Texas Pacific Land holder buys 1 share at $351

A ten percent owner of Texas Pacific Land Corp disclosed a small open-market share purchase, with total reported holdings remaining in the multi-million share range.

Rhea-AI Filing Summary

Texas Pacific Land Corp (TPL) reported that Horizon Kinetics Asset Management LLC, a ten percent owner, purchased 1 share of Common Stock on September 18, 2026 at $351.34 per share in an open-market or private transaction. Following this trade, the filing shows Horizon Kinetics holding 3,390,850 shares, and a related Schedule 13D amendment reports beneficial ownership of 10,109,933 shares in total for Horizon Kinetics Asset Management LLC.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($351.34)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$351.34	$351.34

Holdings After Transaction: Common Stock — 3,390,850 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 per share: $351.34 per share Shares held after transaction: 3,390,850 shares +1 more

4 metrics

Shares purchased 1 share Common Stock purchase on September 18, 2026

Purchase price per share $351.34 per share Common Stock purchase on September 18, 2026

Shares held after transaction 3,390,850 shares Direct holdings reported for Horizon Kinetics Asset Management LLC after the trade

Beneficial ownership (Schedule 13D) 10,109,933 shares Beneficial ownership reported in Horizon Kinetics’ Schedule 13D amendment dated May 7, 2026

Key Terms

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

4 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 financial

"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"

ten percent owner regulatory

"HORIZON KINETICS ASSET MANAGEMENT LLC ... is_ten_percent_owner"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did TPL disclose for Horizon Kinetics Asset Management LLC?

The filing reports that Horizon Kinetics Asset Management LLC purchased 1 share of Texas Pacific Land Corp Common Stock on September 18, 2026 at $351.34 per share in an open-market or private transaction.

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

After the September 18, 2026 purchase, Horizon Kinetics Asset Management LLC is reported as directly holding 3,390,850 shares of Texas Pacific Land Corp Common Stock in this Form 4.

What is Horizon Kinetics’ total beneficial ownership in TPL according to the recent Schedule 13D amendment?

A Schedule 13D amendment filed on May 7, 2026 reports that Horizon Kinetics Asset Management LLC has beneficial ownership of 10,109,933 shares of Texas Pacific Land Corp.

Was the Texas Pacific Land Corp (TPL) insider trade under a Rule 10b5-1 plan?

No. The Form 4 indicates that the Rule 10b5-1 trading plan checkbox is not checked, so the September 18, 2026 purchase was not reported as made under a Rule 10b5-1 plan.

Who is the reporting person on this Texas Pacific Land Corp (TPL) Form 4 and what is their status?

The reporting person is Horizon Kinetics Asset Management LLC, identified in the filing as a ten percent owner of Texas Pacific Land Corp. It is not listed as a director or officer of the company.

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

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Available on EDGAR 09/21/2026 - 12:56 PM Accepted by SEC EDGAR 09/21/2026 - 12:56 PM 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)

1270 AVENUE OF THE AMERICAS

27TH FLOOR

(Street)

NEW YORK NEW YORK 10020

(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)
09/18/2026

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	09/18/2026		P		1	A	$351.34	3,390,850(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	09/21/2026
	** 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)