Murray Stahl - 25 Jul 2023 Form 4/A - Amendment Insider Report for Texas Pacific Land Corp (TPL)

Role: Director
Signature: /s/Jay Kesslen, attorney-in-fact
Issuer symbol: TPL
Transactions as of: 25 Jul 2023
Net transactions value: +$10,584
Form type: 4/A - Amendment
Filing time: 31 Jul 2023, 14:05:10 UTC
Date Of Original Report: 26 Jul 2023
Previous filing: 25 Jul 2023
Next filing: 28 Jul 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TPL	Common Stock	Purchase	$3,024	+2	+0%	$1512.05	104,973	25 Jul 2023	Horizon Kinetics Hard Assets LLC	F1, F2, F3
transaction	TPL	Common Stock	Purchase	$3,024	+2	+0.13%	$1512.05	1,591	25 Jul 2023	Horizon Common Inc	F2, F3
transaction	TPL	Common Stock	Purchase	$4,536	+3	+0.14%	$1512.05	2,139	25 Jul 2023	Direct	F3, F4
holding	TPL	Common Stock						197,910	25 Jul 2023	Horizon Kinetics Asset Management LLC	F5
holding	TPL	Common Stock						1,472	25 Jul 2023	Horizon Kinetics Hard Assets II LLC	F2
holding	TPL	Common Stock						2,484	25 Jul 2023	CDK Partners LP	F2
holding	TPL	Common Stock						5,549	25 Jul 2023	CDK Fund Ltd	F2
holding	TPL	Common Stock						60	25 Jul 2023	Spouse	F2
holding	TPL	Common Stock						1,711	25 Jul 2023	Horizon Credit Opportunity Fund LP	F2
holding	TPL	Common Stock						43,308	25 Jul 2023	Polestar Offshore Fund Ltd	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	This corrects a previous filing which incorrectly listed the aggregate ownership as 43,310 instead of 104,973.
F2	The amount of common shares of the Issuer reported excludes other accounts in which Mr. Stahl has a non-controlling interest and does not exercise investment discretion. These accounts are managed by Horizon Kinetics Asset Management LLC ("Horizon"), in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer. Mr. Stahl disclaims beneficial ownership except to the extent of his pecuniary interest, if any.
F3	Purchased pursuant to a Rule 10b5-1 plan adopted on March 15, 2023.
F4	Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer. These accounts are managed by Horizon Kinetics Asset Management LLC ("Horizon"), in which Mr. Stahl serves as Chairman, Chief Executive Officer and Chief Investment Officer but does not participate in investment decisions with respect to the securities of the Issuer.
F5	The amount reported as held excludes approximately 1,206,558 shares as noted in Horizon's Schedule 13D filed on January 26, 2023, for which Horizon does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts.