Texas Pacific Land Trust (TPL): Murray Stahl Adds More Shares to Texas-Sized Position

Page 2 of 12

Page 2 of 12 SEC Filing

1. Names of Reporting Persons.

Kinetics Advisers, LLC
13-4121163
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

New York
Number of
Shares
Beneficially
Owned by
Each Reporting
Person With:
7. Sole Voting Power

54,462
8. Shared Voting Power
9. Sole Dispositive Power

54,462
10. Shared Dispositive
Power
11. Aggregate Amount Beneficially Owned
by Each Reporting Person
54,462
12. Check if the Aggregate Amount in
Row (11) Excludes Certain Shares
[ ]
13. Percent of Class Represented by
Amount in Row (11)
0.7%
14. Type of Reporting Person
IA

Follow Texas Pacific Land Trust (NYSE:TPL)

Page 2 of 12