organization · Reporting owner
HORIZON KINETICS ASSET MANAGEMENT LLC
Disclosed activity across 4 companies
Sign in to followReported relationships
Latest disclosed role at each company.
| Company | Last reported as | Report date | Published |
|---|---|---|---|
| RENN Fund, Inc.RCG · Entity 209 | 10% owner | September 28, 2026 | September 29, 2026 |
| TEXAS PACIFIC LAND TRUSTTPL · Entity 143917 | 10% owner | January 08, 2021 | January 12, 2021 |
| Texas Pacific Land CorpTPL · Entity 133 | 10% owner | September 29, 2026 | October 01, 2026 |
Disclosed balances
About these balances
Latest available filing per company, not a reconstructed current portfolio. Matching sequences show the last reported balance with all source rows expandable; grouping alone does not establish account ownership. Do not add unresolved positions together. Filings may omit unchanged positions, and amendments may correct only part of an older disclosure. Jointly reported shares are not necessarily this owner's personal holdings.
RENN Fund, Inc.
Report date September 28, 2026 · Filed September 29, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 975,000 |
Reported balance
After 2026-09-28 transaction · row 1
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 1 · 2026-09-28 · Purchase · Acquired 756 · Balance 975,000 F1: Horizon Kinetics Asset Management LLC, a Delaware limited liability company and wholly owned subsidiary of Horizon Kinetics Holding Corporation, serves as the investment adviser to the Issuer and has a pecuniary interest in shares held in various accounts that it manages. |
Filing footnotes · ownership attribution and instrument terms
F1: Horizon Kinetics Asset Management LLC, a Delaware limited liability company and wholly owned subsidiary of Horizon Kinetics Holding Corporation, serves as the investment adviser to the Issuer and has a pecuniary interest in shares held in various accounts that it manages.
TEXAS PACIFIC LAND TRUST
Report date January 08, 2021 · Filed January 12, 2021
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 281,710 |
Reported balance
After 2021-01-08 transaction · row 1
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 1 · 2021-01-08 · Purchase · Acquired 44 · Balance 281,710 F1: The amount reported as held following the transaction excludes approximately 1,320,740 shares as of December 11, 2020 for which the Investment Manager does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts. |
Filing footnotes · ownership attribution and instrument terms
F1: The amount reported as held following the transaction excludes approximately 1,320,740 shares as of December 11, 2020 for which the Investment Manager does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts.
Texas Pacific Land Corp
Report date September 29, 2026 · Filed October 01, 2026
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | Direct | 3,364,203 |
Reported balance
After 2026-09-29 transaction · row 1
Account or security details depend on footnotes; rows are not merged.
1 source rowRow 1 · 2026-09-29 · Purchase · Acquired 4 · Balance 3,364,203 F1: On May 7, 2026, Horizon Kinetics Asset Management LLC ("HKAM") filed an amendment to its Schedule 13D wherein it reported beneficial ownership of 10,109,933 shares. The extent of HKAM's pecuniary interest in the shares reported in the Schedule 13D is disclosed herein. F2: The change represents a reduction of 26,657 shares delivered without consideration as part of a client in-kind redemption. |
Filing footnotes · ownership attribution and instrument terms
F1: On May 7, 2026, Horizon Kinetics Asset Management LLC ("HKAM") filed an amendment to its Schedule 13D wherein it reported beneficial ownership of 10,109,933 shares. The extent of HKAM's pecuniary interest in the shares reported in the Schedule 13D is disclosed herein.
F2: The change represents a reduction of 26,657 shares delivered without consideration as part of a client in-kind redemption.
Past disclosures · reporting ended (1)
No longer tracked through insider filings. These historical balances do not imply present ownership or a zero position.
MIAMI INTERNATIONAL HOLDINGS, INC.
Report date May 19, 2026 · Filed May 21, 2026
Section 16 reporting ended · disclosed 2026-05-21. Current position is not established by this disclosure.
| Security / award | Ownership account | Disclosed shares / units | Disclosure context |
|---|---|---|---|
| Common StockSEC Table I · non-derivative | IndirectHorizon Kinetics Asset Management LLC | 2,170,898 |
Reported balance
After 2026-05-19 transaction · row 1
Account identity is unresolved; indirect or unspecified ownership is not merged.
1 source rowRow 1 · 2026-05-19 · Other · Disposed 2,455,744 · Balance 2,170,898 F1: On May 21, 2026, Horizon Kinetics Asset Management LLC ("HKAM") filed an amendment to its Schedule 13D wherein it reported beneficial ownership of 7,400,316 shares or 7.8 percent of the outstanding shares of the Issuer. The extent of HKAM's pecuniary interest in the shares reported in the Schedule 13D are disclosed herein. F2: The change represents a reduction of 2,455,744 shares that were distributed in-kind on a pro rata basis, without consideration. F3: This amount reflects a reduction of 7,200 shares that were held in an account for which the Reporting Person no longer has a pecuniary interest. |
Filing footnotes · ownership attribution and instrument terms
F1: On May 21, 2026, Horizon Kinetics Asset Management LLC ("HKAM") filed an amendment to its Schedule 13D wherein it reported beneficial ownership of 7,400,316 shares or 7.8 percent of the outstanding shares of the Issuer. The extent of HKAM's pecuniary interest in the shares reported in the Schedule 13D are disclosed herein.
F2: The change represents a reduction of 2,455,744 shares that were distributed in-kind on a pro rata basis, without consideration.
F3: This amount reflects a reduction of 7,200 shares that were held in an account for which the Reporting Person no longer has a pecuniary interest.
Transaction history
JSON APIPurchases/sales include open-market and private transactions. Plan disclosure applies to the filing; individual rows may differ. “Not disclosed” is not “unplanned.”
The cutoff filters transaction history only. Company summaries and owner relationships show the latest available disclosures. Parser corrections can improve historical records.
| Transaction date | Company | Activity / security | Shares / units | Reported price | Reported value | Details |
|---|---|---|---|---|---|---|
| April 04, 2019 Filed Apr 5, 2019 11:24 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 1,516 | $784.57 | $1,189,408.12 |
DisclosureSEC source: 0001519418-19-000023 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 203,493 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 03, 2019 Filed Apr 4, 2019 11:41 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000022 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 03, 2019 Filed Apr 4, 2019 11:41 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000022 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 03, 2019 Filed Apr 4, 2019 11:41 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $797.88 | $33,510.96 |
DisclosureSEC source: 0001519418-19-000022 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,977 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 02, 2019 Filed Apr 3, 2019 11:49 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000021 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 02, 2019 Filed Apr 3, 2019 11:49 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000021 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 02, 2019 Filed Apr 3, 2019 11:49 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $801.16 | $33,648.72 |
DisclosureSEC source: 0001519418-19-000021 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,935 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 01, 2019 Filed Apr 2, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000020 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 01, 2019 Filed Apr 2, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000020 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| April 01, 2019 Filed Apr 2, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $784.30 | $32,940.60 |
DisclosureSEC source: 0001519418-19-000020 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,893 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 29, 2019 Filed Apr 1, 2019 11:47 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000019 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 29, 2019 Filed Apr 1, 2019 11:47 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000019 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 29, 2019 Filed Apr 1, 2019 11:47 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $773.48 | $32,486.16 |
DisclosureSEC source: 0001519418-19-000019 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,851 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 28, 2019 Filed Mar 29, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000018 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 28, 2019 Filed Mar 29, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000018 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 28, 2019 Filed Mar 29, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 7 | $774.83 | $5,423.81 |
DisclosureSEC source: 0001519418-19-000018 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,809 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 27, 2019 Filed Mar 28, 2019 11:57 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000017 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 27, 2019 Filed Mar 28, 2019 11:57 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000017 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 27, 2019 Filed Mar 28, 2019 11:57 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $774.38 | $32,523.96 |
DisclosureSEC source: 0001519418-19-000017 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,802 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 26, 2019 Filed Mar 27, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000016 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 26, 2019 Filed Mar 27, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000016 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 26, 2019 Filed Mar 27, 2019 11:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $764.28 | $32,099.76 |
DisclosureSEC source: 0001519418-19-000016 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,760 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 25, 2019 Filed Mar 26, 2019 13:23 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000015 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 25, 2019 Filed Mar 26, 2019 13:23 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000015 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 25, 2019 Filed Mar 26, 2019 13:23 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $725.36 | $30,465.12 |
DisclosureSEC source: 0001519418-19-000015 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,718 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 22, 2019 Filed Mar 25, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000014 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 22, 2019 Filed Mar 25, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000014 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 22, 2019 Filed Mar 25, 2019 11:55 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $751.10 | $31,546.20 |
DisclosureSEC source: 0001519418-19-000014 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,676 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 21, 2019 Filed Mar 22, 2019 12:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000013 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 21, 2019 Filed Mar 22, 2019 12:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000013 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 21, 2019 Filed Mar 22, 2019 12:31 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $767.89 | $32,251.38 |
DisclosureSEC source: 0001519418-19-000013 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,634 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares (as of 03/15/19) for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 20, 2019 Filed Mar 21, 2019 16:32 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000012 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 20, 2019 Filed Mar 21, 2019 16:32 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000012 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 20, 2019 Filed Mar 21, 2019 16:32 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $765.98 | $32,171.16 |
DisclosureSEC source: 0001519418-19-000012 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,592 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 19, 2019 Filed Mar 20, 2019 12:28 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000011 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 19, 2019 Filed Mar 20, 2019 12:28 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000011 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 19, 2019 Filed Mar 20, 2019 12:28 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $760.69 | $31,948.98 |
DisclosureSEC source: 0001519418-19-000011 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,550 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 18, 2019 Filed Mar 19, 2019 12:36 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000010 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 18, 2019 Filed Mar 19, 2019 12:36 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000010 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 18, 2019 Filed Mar 19, 2019 12:36 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $741.16 | $31,128.58 |
DisclosureSEC source: 0001519418-19-000010 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,508 F1 · ownership.nature: These figures exclude approximately 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 15, 2019 Filed Mar 18, 2019 16:40 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000009 · primary_doc.xml · nonDerivative · entry 3 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Asset Management LLC Disclosed balance after: 50,011 F1 · ownership.nature: These figures exclude 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 15, 2019 Filed Mar 18, 2019 16:40 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | OtherCommon Stock | 0 | $0.00 | $0.00 |
DisclosureSEC source: 0001519418-19-000009 · primary_doc.xml · nonDerivative · entry 2 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Kinetics Advisers, LLC Disclosed balance after: 42,437 F1 · ownership.nature: These figures exclude 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| March 15, 2019 Filed Mar 18, 2019 16:40 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 42 | $748.14 | $31,421.88 |
DisclosureSEC source: 0001519418-19-000009 · primary_doc.xml · nonDerivative · entry 1 Horizon Kinetics LLC · CIK 0001519418 · 10% owner HORIZON ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner Kinetics Advisers, LLC · CIK 0001527271 · 10% owner KINETICS ASSET MANAGEMENT LLC · CIK 0001011814 · 10% owner Joint disclosure: these amounts are not allocated separately to each reporting owner. 10b5-1 filing: Not disclosed Ownership: Indirect · Horizon Asset Management LLC Disclosed balance after: 201,466 F1 · ownership.nature: These figures exclude 1,531,265 shares for which the Investment Managers do not have a pecuniary interest. Read SEC document |
| January 07, 2019 Filed Jan 8, 2020 11:10 UTC | TEXAS PACIFIC LAND TRUST TPL · Entity 143917 | PurchaseCommon Stock | 10 | $805.00 | $8,050.00 |
DisclosureSEC source: 0001056823-20-000005 · primary_doc.xml · nonDerivative · entry 1 HORIZON KINETICS ASSET MANAGEMENT LLC · CIK 0001056823 · 10% owner 10b5-1 filing: Not disclosed Ownership: Direct Disclosed balance after: 315,483 F1 · balance_after: This figure excludes approximately 1,469,913 shares (as of 07/30/19) for which the Investment Manager does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts. Read SEC document |
Value uses the disclosed total when available, otherwise shares × reported transaction price. It is not an estimate of exercise cash cost or investment performance.