some insider is buying one share of TPL every single day for a month. anyone know what this is?
u/mathewarena ·
Reddit — r/investing
· July 20, 2026 at 22:49
· ⬆ 22 pts
· 💬 20 comments
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been messing with SEC insider filings data and found something i cant explain.
Texas Pacific Land (TPL, the oil royalties company) has Horizon Kinetics, a big holder, buying literally one share of the stock on the open market almost every trading day for the last month. not 100 shares, not 1000. one. total capital deployed maybe $8000 over the month, at prices between $351 and $435.
my best guess is its a 10b5-1 plan (the pre-committed insider trading plans) set to buy 1 share per day. horizon already owns millions of shares of TPL so theyre not building a position, theyre publishing conviction. every 1-share buy files a Form 4 that shows up on every insider screener in the market. its basically free advertising that they still like the company.
what i cant figure out is if this is a common pattern or specific to TPL. anyone here seen this on other names?
writeup with the actual data and a bit of code if anyone wants to run it against their own watchlist: https://edgarkit.com/guides/spotting-scheduled-accumulation-programs
disclosure: i built the api that pulled the data. not shilling, just the pattern is weird enough i wanted to see if anyone here has a better explanation.