Horizon Kinetics Asset Management has filed 381 Form 4 transactions across three companies, with every single one classified as an open-market purchase. The total buy value is $356,572.55, and there are no sales of any kind. The only other transaction type is $803.44 in acquired shares, which are compensation grants and not discretionary buys. The pattern is unambiguous: the firm is accumulating, not reducing, positions.
The recent activity, spanning late August through mid-September 2026, shows a steady cadence of daily purchases in two tickers: Texas Pacific Land (TPL) and RCG. The TPL trades are small, ranging from $360.03 to $378.57 per transaction. The RCG trades are larger, mostly $2,230.20 each, with a few at $2,222.64 and $2,305.80. On nearly every trading day in that window, Horizon Kinetics filed a purchase in both names. For example, on September 14 it bought $371.73 of TPL and $2,305.80 of RCG. On September 2 it bought $363.20 of TPL and $2,230.20 of RCG.
The dollar values are modest, which suggests a systematic accumulation program rather than a one-off repositioning. There are 25 recent purchases and zero recent sales. The absence of any S, D, or F codes in the recent data means no open-market sales, no issuer buybacks, and no tax-withholding disposals. The firm has not trimmed either position in the period covered.
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