Texas Pacific Land Corporation (TPL)

[Enterprising Investor]

Horizon Kinetics LLC Increased Texas Pacific Land Trust (NYSE:TPL) by $4.41 Million as Shares Rose (9/05/16)

Murray Stahl increased its stake in Texas Pacific Land Trust (NYSE:TPL) by 1.88% based on its latest 2016Q2 regulatory filing with the SEC. Horizon Kinetics Llc bought 30,441 shares as the company’s stock rose 16.63% with the market. The hedge fund run by Murray Stahl held 1.65M shares of the oil & gas production company at the end of 2016Q2, valued at $239.51M, up from 1.62 million at the end of the previous reported quarter. Horizon Kinetics Llc who had been investing in Texas Pacific Land Trust for a number of months, seems to be bullish on the $1.42B market cap company. The stock increased 0.15% or $0.26 on September 2, hitting $176.8. Texas Pacific Land Trust (NYSE:TPL) has risen 40.33% since February 1, 2016 and is uptrending. It has outperformed by 27.92% the S&P500.

Horizon Kinetics Llc, which manages about $5.39B and $4.03 billion US Long portfolio, decreased its stake in Liberty Interactive Corp (NASDAQ:LVNTA) by 1.51M shares to 1.12M shares, valued at $43.65 million in 2016Q2, according to the filing. It also reduced its holding in Howard Hughes Corp (NYSE:HHC) by 483,769 shares in the quarter, leaving it with 3.70 million shares, and cut its stake in Vanguard Index Fds (VTI).

Murray Stahl earned his B.A. and an M.A. from Brooklyn College before obtaining an MBA from Pace University. He was employed as a senior portfolio manager and research analyst by Bankers Trust Company for 16 years. In 1985, Stahl founded Horizon Kinetics, which would become the parent company of Horizon Asset Management Horizon Kinetics Llc is a New York-based hedge fund that was founded by Murray Stahl. It had more than $5.39 billion assets under management in April, 2014. Taken from Horizon Kinetics latest Adv, the fund reported to have 81 full and part-time employees. Among which 21 performing investment advisory and research functions. The hedge fund had more than 3700 clients.

The institutional sentiment decreased to 1 in Q2 2016. Its down 0.26, from 1.26 in 2016Q1. The ratio fall, as 6 funds sold all TPL shares owned while 19 reduced positions. 8 funds bought stakes while 17 increased positions. They now own 3.06 million shares or 1.13% less from 3.09 million shares in 2016Q1.

Arbiter Partners Capital Management Llc holds 2.5% of its portfolio in TPL for 114,598 shares. Pacific Heights Asset Management Llc owns 150,000 shares or 2.31% of their US portfolio. Moreover, Cambrian Capital Limited Partnership has 1.17% invested in the company for 11,642 shares. The California-based Beddow Capital Management Inc has invested 0.61% in the stock. Syntal Capital Partners Llc, a Texas-based fund reported 3,010 shares.

Texas Pacific Land Trust is engaged in managing land, including royalty interests, for the benefit of its owners. The company has a market cap of $1.42 billion. The Trust operates through managing the land segment, including sales and leases of such land, and the retention of gas and oil royalties. It has a 37.9 P/E ratio. It holds title to tracts of land in various West Texas counties.

http://presstelegraph.com/2016/09/05/horizon-kinetics-llc-increased-texas-pacific-land-trust-nysetpl-by-4-41-million-as-shares-rose/