Horizon Kinetics (TPL) updates Texas Pacific Land stake with new Form 4 buy

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more-than-10% owner of Texas Pacific Land Corp, reported purchasing 1 share of common stock at $343.02 per share. Following this open-market purchase, it directly holds 3,244,009 shares. A related Schedule 13D amendment reports 10,109,933 shares of beneficial ownership, with the extent of HKAM’s pecuniary interest in those shares referenced in this filing.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($343.02)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$343.02	$343.02

Holdings After Transaction: Common Stock — 3,244,009 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 is disclosed herein.

Key Figures

Shares purchased: 1 share Purchase price: $343.02 per share Direct holdings after transaction: 3,244,009 shares +2 more

5 metrics

Shares purchased 1 share Common Stock transaction coded as a purchase in open market or private transaction

Purchase price $343.02 per share Price paid for the 1 share of Texas Pacific Land Corp common stock

Direct holdings after transaction 3,244,009 shares Total common shares directly owned by Horizon Kinetics Asset Management LLC after the purchase

Beneficial ownership reported on Schedule 13D 10,109,933 shares Shares of Texas Pacific Land Corp reported as beneficially owned by HKAM in its Schedule 13D amendment

Net buy-sell shares in filing 1 share Transaction summary shows net-buy direction with 1 net share purchased

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, ten percent owner

4 terms

Schedule 13D regulatory

"HKAM 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 financial

"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 in the Schedule 13D"

ten percent owner regulatory

"HORIZON KINETICS ASSET MANAGEMENT LLC is listed as a ten percent owner"

FAQ

What transaction did Horizon Kinetics report in this Form 4 for TPL?

Horizon Kinetics Asset Management LLC reported a purchase of 1 share of Texas Pacific Land Corp common stock at $343.02 per share, characterized as an open-market or private transaction, increasing its directly held position slightly.

How many Texas Pacific Land Corp (TPL) shares does Horizon Kinetics now hold directly?

After the reported trade, Horizon Kinetics Asset Management LLC directly holds 3,244,009 shares of Texas Pacific Land Corp common stock. This figure reflects its direct ownership position immediately following the 1-share purchase at $343.02.

What is Horizon Kinetics’ reported beneficial ownership in TPL according to Schedule 13D?

An amendment to Horizon Kinetics Asset Management LLC’s Schedule 13D reports 10,109,933 shares of beneficial ownership in Texas Pacific Land Corp. The filing states that the extent of HKAM’s pecuniary interest in those shares is described in this Form 4.

Was the TPL Form 4 transaction by Horizon Kinetics a buy or a sell?

The transaction reported by Horizon Kinetics Asset Management LLC was a buy. It is coded as a purchase (transaction code P) with an acquired/disposed code indicating shares acquired and a transaction direction classified as a net buy.

Does the Horizon Kinetics Form 4 for TPL involve derivatives or options?

No derivatives or options are listed in this Form 4 for Texas Pacific Land Corp. The derivative summary section is empty, and the only reported transaction involves non-derivative common stock purchased at $343.02 per share.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/14/2026 - 11:55 AM Accepted by SEC EDGAR 08/14/2026 - 11:55 AM Learn about SEC filing dates

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)
08/13/2026

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	08/13/2026		P		1	A	$343.02	3,244,009(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 is disclosed herein.

	/s/ Jay Kesslen, attorney-in-fact	08/14/2026
	** 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)