Horizon Kinetics Amends TPL Stake, Signals Ownership Change

Ticker: TPL · Form: SC 13D/A · Filed: 2024-02-07T00:00:00.000Z

Sentiment: neutral

Topics: insider-ownership, amendment, institutional-investor

TL;DR

**Horizon Kinetics updated their TPL ownership, signaling a change in their investment position.**

AI Summary

Horizon Kinetics Asset Management LLC filed an amended Schedule 13D/A on February 7, 2024, indicating a change in their beneficial ownership of Texas Pacific Land Corporation (TPL) common stock. This amendment, number 6, updates previous disclosures regarding their stake in the oil royalty trader. The filing specifies February 5, 2024, as the date of the event requiring this amendment. This matters to investors because Horizon Kinetics is a significant institutional holder, and changes in their position can signal their sentiment about TPL's future prospects, potentially influencing other investors and the stock price.

Why It Matters

Changes in major institutional holdings like Horizon Kinetics' stake in TPL can indicate shifts in investor confidence or strategy, potentially impacting the stock's perceived value and future performance.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous disclosure and does not inherently present new risks, but rather updates existing information about a significant shareholder.

Analyst Insight

A smart investor would monitor subsequent filings from Horizon Kinetics to understand the nature of their ownership change (increase or decrease) and consider if it aligns with their own investment thesis for Texas Pacific Land Corporation.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13D/A, which is an amendment to a Schedule 13D filing under the Securities Exchange Act of 1934.

Who is the issuer of the securities discussed in this filing?

The issuer of the securities is Texas Pacific Land Corporation, with the CUSIP Number 88262P102 for its Common Stock.

Who filed this amendment?

This amendment was filed by Horizon Kinetics Asset Management LLC, whose business address is 470 Park Avenue South, 4th Floor South, New York, NY 10016.

What is the date of the event that triggered this filing?

The date of the event which required the filing of this statement is February 5, 2024.

What is the primary business of Texas Pacific Land Corp according to its SIC code?

According to its Standard Industrial Classification (SIC), Texas Pacific Land Corp is categorized under OIL ROYALTY TRADERS [6792].

From the Filing

0001056823-24-000008.txt : 20240207 0001056823-24-000008.hdr.sgml : 20240207 20240207201215 ACCESSION NUMBER: 0001056823-24-000008 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240207 DATE AS OF CHANGE: 20240207 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Texas Pacific Land Corp CENTRAL INDEX KEY: 0001811074 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 750279735 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91958 FILM NUMBER: 24606481 BUSINESS ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 BUSINESS PHONE: 214-969-5530 MAIL ADDRESS: STREET 1: 1700 PACIFIC AVENUE STREET 2: SUITE 2900 CITY: DALLAS STATE: TX ZIP: 75201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HORIZON KINETICS ASSET MANAGEMENT LLC CENTRAL INDEX KEY: 0001056823 ORGANIZATION NAME: IRS NUMBER: 133776334 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 470 PARK AVENUE SOUTH STREET 2: 4TH FLOOR SOUTH CITY: NEW YORK STATE: NY ZIP: 10016 BUSINESS PHONE: 646-495-7347 MAIL ADDRESS: STREET 1: 470 PARK AVENUE SOUTH STREET 2: 4TH FLOOR SOUTH CITY: NEW YORK STATE: NY ZIP: 10016 FORMER COMPANY: FORMER CONFORMED NAME: HORIZON ASSET MANAGEMENT LLC DATE OF NAME CHANGE: 20130813 FORMER COMPANY: FORMER CONFORMED NAME: HORIZON ASSET MANAGEMENT INC/NY DATE OF NAME CHANGE: 19990319 SC 13D/A 1 formsc13da.htm Horizon Kinetics LLC: Form SC 13D/A - Filed by newsfilecorp.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 6) TEXAS PACIFIC LAND CORPORATION (Name of Issuer) Common Stock (Title of Class of Securities) 88262P102 (CUSIP Number) Jay Kesslen c/o Horizon Kinetics LLC 470 Park Avenue South New York, NY 10016 646-867-1176 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 5, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d -1(e), 240.13d -1(f) or 240.13d -1(g), check the following box. ☐ Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 Name of Reporting Persons   Horizon Kinetics Asset Management LLC 2 Check the Appropriate Box if a Member of a Group   (A):   ☐ (B):   ☐ 3 SEC Use Only     4 Source of Funds   WC 5 Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(D) or 2(E)   ☐ 6 Citizenship or Place of Organization   Delaware Number of Shares Beneficially Owned by Each Reporting Person with 7 Sole Voting Power   1,281,215 8 Shared Voting Power     9 Sole Dispositive Power   1,281,215 10 Shared Dispositive Power     11 Aggregate Amount Beneficially Owned by Each Reporting Person   1,281,215 12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares   &#9744

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