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/A

Under the Securities Exchange Act of 1934

(Amendment No. 11)

(Name of Issuer)

Texas Pacific Land Trust

(Title of Class of Securities)

Sub-share Certificates

(CUSIP Number)

882610108

Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

Jay Kesslen

c/o Horizon Kinetics LLC

470 Park Avenue South

New York, NY 10016

(Date of Event which Requires Filing of this Statement)

October 15, 2020

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.  Names of Reporting Persons.

Horizon Kinetics Asset Management LLC

13-3776334

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

1,638,935

 

8.  Shared Voting Power

 

 

9.  Sole Dispositive Power

  1,638,935

 

10.  Shared Dispositive Power

 

 

11.  Aggregate Amount Beneficially Owned by Each Reporting Person

  1,638,935

12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

☐

13.  Percent of Class Represented by Amount in Row (11)

  21.1

14.  Type of Reporting Person

IA



This Amendment No. 11 to the Schedule 13D (this "Amendment No. 11") relates to the sub-share certificates of proprietary interests (the "Shares") of Texas Pacific Land Trust ("TPL") and amends the Schedule 13D Amendment 10 filed on June 15, 2020 (the "Schedule 13D 10" and, together with this Amendment No. 11, the "Schedule 13D"). Capitalized terms used and not defined in this Amendment No. 11 have the meanings set forth in the Original Schedule 13D.

This Amendment No. 11 is being filed by Horizon Kinetics Asset Management LLC ("Horizon") a Delaware limited liability company, a wholly owned subsidiary of Horizon Kinetics LLC.

This Amendment No. 11 is being filed to amend Item 5 of the Schedule 13D as follows:

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

Item 5 of the Schedule 13D is amended by adding the following:

Percentages of the Shares outstanding reported in this Amendment No. 11 are calculated based upon the 7,756,156 Shares outstanding as of July 31, 2020, as reported in TPL's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020, filed by TPL with the SEC on August 6, 2020.

The aggregate number and percentage of the class of securities identified pursuant to Item 1 beneficially owned by Horizon, on behalf of its clients, including its proprietary accounts may be found in rows 11 and 13 of the cover page, which is hereby incorporated by reference.

This Schedule 13D does not include approximately 23,795 Shares of TPL held personally by senior portfolio managers of Horizon and their families.  The right to dividends from, or proceeds from the sale of such Shares resides with the beneficial owners of such accounts, and Horizon with respect to its proprietary accounts.  Transactions effected by Horizon in the last 60 days are as listed below.  All sales were the result of a client direction or account limitation, and no sales were made in any proprietary account. 

Name of Reporting
Person

Date of Transaction

Buy/Sale

Aggregate Amount
of Securities

Average Price Per
Share

Horizon Kinetics Asset Management LLC

8/17/2020

Buy

94

596.74

Horizon Kinetics Asset Management LLC

8/17/2020

Sale

1,191

596.30

Horizon Kinetics Asset Management LLC

8/18/2020

Buy

228

587.35

Horizon Kinetics Asset Management LLC

8/18/2020

Sale

1,309

590.52

Horizon Kinetics Asset Management LLC

8/19/2020

Buy

96

572.11

Horizon Kinetics Asset Management LLC

8/19/2020

Sale

1,002

577.81

Horizon Kinetics Asset Management LLC

8/20/2020

Buy

113

559.47

Horizon Kinetics Asset Management LLC

8/20/2020

Sale

1,011

561.78

Horizon Kinetics Asset Management LLC

8/21/2020

Buy

95

552.51




Horizon Kinetics Asset Management LLC

8/21/2020

Sale

1,068

555.73

Horizon Kinetics Asset Management LLC

8/24/2020

Buy

118

543.08

Horizon Kinetics Asset Management LLC

8/24/2020

Sale

681

542.43

Horizon Kinetics Asset Management LLC

8/25/2020

Buy

1,809

545.14

Horizon Kinetics Asset Management LLC

8/25/2020

Sale

2,966

543.90

Horizon Kinetics Asset Management LLC

8/26/2020

Buy

204

542.78

Horizon Kinetics Asset Management LLC

8/26/2020

Sale

490

539.97

Horizon Kinetics Asset Management LLC

8/27/2020

Buy

96

537.74

Horizon Kinetics Asset Management LLC

8/27/2020

Sale

351

535.84

Horizon Kinetics Asset Management LLC

8/28/2020

Buy

77

531.59

Horizon Kinetics Asset Management LLC

8/28/2020

Sale

316

530.26

Horizon Kinetics Asset Management LLC

8/31/2020

Buy

173

526.72

Horizon Kinetics Asset Management LLC

8/31/2020

Sale

694

526.94

Horizon Kinetics Asset Management LLC

9/1/2020

Buy

179

536.72

Horizon Kinetics Asset Management LLC

9/1/2020

Sale

397

535.29

Horizon Kinetics Asset Management LLC

9/2/2020

Buy

83

537.80

Horizon Kinetics Asset Management LLC

9/2/2020

Sale

478

537.49

Horizon Kinetics Asset Management LLC

9/3/2020

Buy

121

526.52




Horizon Kinetics Asset Management LLC

9/3/2020

Sale

286

526.53

Horizon Kinetics Asset Management LLC

9/4/2020

Buy

1,115

510.69

 Horizon Kinetics Asset Management LLC

9/4/2020

Sale

1,340

510.52

Horizon Kinetics Asset Management LLC

9/8/2020

Buy

198

494.03

Horizon Kinetics Asset Management LLC

9/8/2020

Sale

653

497.04

Horizon Kinetics Asset Management LLC

9/9/2020

Buy

164

508.73

Horizon Kinetics Asset Management LLC

9/9/2020

Sale

374

505.65

Horizon Kinetics Asset Management LLC

9/10/2020

Buy

86

481.00

Horizon Kinetics Asset Management LLC

9/10/2020

Sale

291

490.69

Horizon Kinetics Asset Management LLC

9/11/2020

Buy

196

478.13

Horizon Kinetics Asset Management LLC

9/11/2020

Sale

301

479.24

Horizon Kinetics Asset Management LLC

9/14/2020

Buy

361

480.98

Horizon Kinetics Asset Management LLC

9/14/2020

Sale

383

481.08

Horizon Kinetics Asset Management LLC

9/15/2020

Buy

179

463.60

Horizon Kinetics Asset Management LLC

9/15/2020

Sale

334

471.95

Horizon Kinetics Asset Management LLC

9/16/2020

Buy

308

458.56

Horizon Kinetics Asset Management LLC

9/16/2020

Sale

308

461.16

Horizon Kinetics Asset Management LLC

9/17/2020

Buy

379

459.42




Horizon Kinetics Asset Management LLC

9/17/2020

Sale

1,652

456.04

Horizon Kinetics Asset Management LLC

9/18/2020

Buy

1,305

451.91

Horizon Kinetics Asset Management LLC

9/18/2020

Sale

2,572

454.34

Horizon Kinetics Asset Management LLC

9/21/2020

Buy

528

452.32

Horizon Kinetics Asset Management LLC

9/21/2020

Sale

2,365

444.89

Horizon Kinetics Asset Management LLC

9/22/2020

Buy

346

461.30

Horizon Kinetics Asset Management LLC

9/22/2020

Sale

2,289

460.05

Horizon Kinetics Asset Management LLC

9/23/2020

Buy

318

441.70

Horizon Kinetics Asset Management LLC

9/23/2020

Sale

2,320

450.91

Horizon Kinetics Asset Management LLC

9/24/2020

Buy

319

457.02

Horizon Kinetics Asset Management LLC

9/24/2020

Sale

319

457.02

Horizon Kinetics Asset Management LLC

9/25/2020

Buy

533

451.00

Horizon Kinetics Asset Management LLC

9/25/2020

Sale

415

450.49

Horizon Kinetics Asset Management LLC

9/28/2020

Buy

290

461.48

Horizon Kinetics Asset Management LLC

9/28/2020

Sale

360

461.43

Horizon Kinetics Asset Management LLC

9/29/2020

Buy

304

452.06

Horizon Kinetics Asset Management LLC

9/29/2020

Sale

324

451.74

Horizon Kinetics Asset Management LLC

9/30/2020

Buy

298

451.56




Horizon Kinetics Asset Management LLC

9/30/2020

Sale

648

454.47

Horizon Kinetics Asset Management LLC

10/1/2020

Buy

465

450.20

Horizon Kinetics Asset Management LLC

10/1/2020

Sale

1,701

445.67

Horizon Kinetics Asset Management LLC

10/2/2020

Buy

291

448.10

Horizon Kinetics Asset Management LLC

10/2/2020

Sale

233

447.00

Horizon Kinetics Asset Management LLC

10/5/2020

Buy

297

455.11

Horizon Kinetics Asset Management LLC

10/5/2020

Sale

547

454.65

Horizon Kinetics Asset Management LLC

10/6/2020

Buy

297

460.22

Horizon Kinetics Asset Management LLC

10/6/2020

Sale

738

461.80

Horizon Kinetics Asset Management LLC

10/7/2020

Buy

328

473.29

Horizon Kinetics Asset Management LLC

10/7/2020

Sale

539

470.70

Horizon Kinetics Asset Management LLC

10/8/2020

Buy

343

484.73

Horizon Kinetics Asset Management LLC

10/8/2020

Sale

553

481.73

Horizon Kinetics Asset Management LLC

10/9/2020

Buy

222

466.60

Horizon Kinetics Asset Management LLC

10/9/2020

Sale

422

470.28

Horizon Kinetics Asset Management LLC

10/12/2020

Buy

201

471.99

Horizon Kinetics Asset Management LLC

10/12/2020

Sale

301

468.98

Horizon Kinetics Asset Management LLC

10/13/2020

Buy

290

459.65




Horizon Kinetics Asset Management LLC

10/13/2020

Sale

290

459.65

Horizon Kinetics Asset Management LLC

10/14/2020

Buy

186

465.01

Horizon Kinetics Asset Management LLC

10/14/2020

Sale

419

467.84

Horizon Kinetics Asset Management LLC

10/15/2020

Buy

102

481.42

Horizon Kinetics Asset Management LLC

10/15/2020

Sale

102

481.42




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.

Dated: October 16, 2020   

  /s/ Jay Kesslen 
  Jay Kesslen
  General Counsel
  Horizon Kinetics LLC
  Horizon Kinetics Asset Management LLC