Luther King Capital Mgmt Discloses Passive Stake in TXO Partners
Ticker: TXO · Form: SC 13G · Filed: 2024-02-07T00:00:00.000Z
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**Luther King Capital Management just revealed a passive stake in TXO Partners, signaling institutional confidence.**
AI Summary
Luther King Capital Management Corporation, a Fort Worth-based investment firm, filed an SC 13G on February 7, 2024, disclosing its ownership of Common Units in TXO Partners, L.P. as of December 31, 2023. This filing indicates that Luther King Capital Management holds a passive investment, meaning they are not seeking to influence or control TXO Partners' management or operations. For investors, this signals a notable institutional endorsement of TXO Partners, L.P., potentially boosting confidence in the stock.
Why It Matters
This filing shows a significant institutional investor, Luther King Capital Management, has taken a passive stake in TXO Partners, L.P., which can be seen as a vote of confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a passive investment, indicating no immediate negative risks to the company or its shareholders.
Analyst Insight
A smart investor would view this as a positive signal, suggesting that a reputable institutional firm sees value in TXO Partners, L.P. It might warrant further research into TXO Partners' fundamentals and recent performance.
Key Players & Entities
- Luther King Capital Management Corporation (company) — reporting person, investment firm
- TXO Partners, L.P. (company) — subject company, issuer of securities
- J. LUTHER KING, JR. (person) — group member associated with the filing
- December 31, 2023 (date) — date of event requiring the filing
- February 7, 2024 (date) — filing date
Forward-Looking Statements
- Other institutional investors may take note of Luther King Capital Management's stake and potentially initiate or increase their own positions in TXO Partners, L.P. (TXO Partners, L.P.) — medium confidence, target: Q2 2024
FAQ
What type of filing is this and what does it generally indicate?
This is an SC 13G filing, which is typically used by passive investors who own more than 5% but less than 20% of a company's stock and do not intend to influence or control the company's management or policies. It signals a significant, but non-activist, institutional investment.
Who is the reporting person in this SC 13G filing?
The reporting person is Luther King Capital Management Corporation, located at 301 Commerce Suite 1600, Fort Worth, TX 76102.
What is the subject company whose securities are being reported?
The subject company is TXO Partners, L.P., with a business address at 400 West 7th Street, Fort Worth, TX 76102.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Units of TXO Partners, L.P. is 87313P103.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
Filing Stats: 792 words · 3 min read · ~3 pages · Grade level 8.1 · Accepted 2024-02-07 08:01:27
Filing Documents
- d679708dsc13g.htm (SC 13G) — 50KB
- d679708dex991.htm (EX-99.1) — 3KB
- 0001193125-24-025944.txt ( ) — 54KB
(b)
Item 1(b) Address of Issuers Principal Executive Offices 400 West 7 th Street Fort Worth, Texas 76102
(a)
Item 2(a) Name of Person Filing Luther King Capital Management Corporation J. Luther King, Jr.
(b)
Item 2(b) Address of Principal Business Offices 301 Commerce Street, Suite 1600 Fort Worth, Texas 76102
(c)
Item 2(c) Citizenship Luther King Capital Management Corporation Delaware J. Luther King, Jr. United States
(d)
Item 2(d) Title of Class of Securities Common Units
(e)
Item 2(e) CUSIP Number 87313P103 Item 3 Status of Person Filing Not applicable. Item 4 Ownership (a)Amount beneficially owned: Luther King Capital Management Corporation 2,591,530 J. Luther King, Jr. 3,331,474 (b)Percent of class: Luther King Capital Management Corporation 8.4% J. Luther King, Jr. 10.8% (c)Number of shares as to which the person has: (i)Sole power to vote or to direct the vote: Luther King Capital Management Corporation 2,591,530 J. Luther King, Jr. 3,331,474 (ii)Shared power to vote or to direct the vote: 0 (iii)Sole power to dispose or to direct the disposition of: Luther King Capital Management Corporation 2,591,530 J. Luther King, Jr. 3,331,474 (iv)Shared power to dispose or to direct the disposition of: 0 Item 5 Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: Item 6 Ownership of More than Five Percent on Behalf of Another Person Not applicable. Item 7 Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not applicable. Item 8 Identification and Classification of Members of the Group Not applicable. Item 9 Notice of Dissolution of Group Not applicable. Item10 Certification Not applicable. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Luther King Capital Management Corporation By: /s/ J. Luther King, Jr. J. Luther King, Jr. President /s/ J. Luther King, Jr. J. Luther King, Jr. Dated: February 7, 2024 LIST OF EXHIBITS Exhibit No. Description 1 Joint Filing Agreement