Horizon Kinetics buys Texas Pacific Land (NYSE: TPL) stock at $393.09

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp, reported purchasing 1 share of common stock on 2026-07-28 at $393.09 per share in an open-market transaction. Following this trade it reports 3,263,685 shares held directly.

A related footnote states that Horizon Kinetics has reported 10,109,933 shares beneficially owned in an amended Schedule 13D filed on May 7, 2026. The transaction was not reported as executed under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($393.09)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$393.09	$393.09

Holdings After Transaction: Common Stock — 3,263,685 shares (Direct)

Footnotes (1)

1. 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 are disclosed herein.

Key Figures

Shares purchased: 1 share Purchase price: $393.0900 per share Shares held directly after transaction: 3,263,685 shares +2 more

5 metrics

Shares purchased 1 share Common Stock transaction on 2026-07-28

Purchase price $393.0900 per share Open-market or private purchase on 2026-07-28

Shares held directly after transaction 3,263,685 shares Total Common Stock held directly following the reported purchase

Beneficial ownership per Schedule 13D 10,109,933 shares Reported in amended Schedule 13D filed on May 7, 2026

Net shares bought in this filing 1 share transactionSummary netBuySellShares for this Form 4

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest

3 terms

Schedule 13D regulatory

"filed an amendment to its Schedule 13D wherein it reported beneficial ownership"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficial ownership regulatory

"wherein it reported beneficial ownership of 10,109,933 shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"The extent of HKAM's pecuniary interest in the shares reported"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/29/2026 - 12:09 PM Accepted by SEC EDGAR 07/29/2026 - 12:08 PM Learn about SEC filing dates

FAQ

What transaction did Horizon Kinetics report for Texas Pacific Land (TPL)?

Horizon Kinetics reported purchasing 1 share of Texas Pacific Land common stock at $393.09 on 2026-07-28. This open-market transaction is reported on Form 4 as a small addition to its existing position.

How many Texas Pacific Land (TPL) shares does Horizon Kinetics hold after this Form 4?

After the reported transaction, Horizon Kinetics lists 3,263,685 shares of Texas Pacific Land common stock held directly. This figure reflects the total direct holdings reported in the Form 4 following the 1-share purchase.

What price did Horizon Kinetics pay per share for TPL in this transaction?

The purchase price was $393.09 per share for the 1 share of Texas Pacific Land common stock. The transaction is characterized as a purchase in an open market or private transaction at that per-share price.

What is Horizon Kinetics’ broader beneficial ownership in Texas Pacific Land (TPL)?

A footnote explains that Horizon Kinetics reported 10,109,933 shares of Texas Pacific Land beneficially owned in an amended Schedule 13D filed on May 7, 2026. This 13D figure is separate from the 3,263,685 shares reported as held directly.

Was the Horizon Kinetics TPL share purchase made under a Rule 10b5-1 trading plan?

The Rule 10b5-1 checkbox for this Form 4 is not marked, indicating the transaction was not reported as made under a Rule 10b5-1 trading plan. It is instead presented as a discretionary open-market or private purchase.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HORIZON KINETICS ASSET MANAGEMENT LLC

(Last) (First) (Middle)

470 PARK AVENUE SOUTH

4TH FLOOR SOUTH

(Street)

NEW YORK NEW YORK 10016

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Texas Pacific Land Corp [ TPL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/28/2026		P		1	A	$393.09	3,263,685(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 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 are disclosed herein.

	/s/ Jay Kesslen, attorney-in-fact	07/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)