Horizon Kinetics (NYSE: TPL) adds to Texas Pacific Land stake

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp, reported an open-market purchase of 1 share of Common Stock at $419.26 on April 15, 2026. Following this trade, it directly held 3,435,497 shares.

A footnote states that on April 13, 2026, the firm’s amended Schedule 13D reported 9,974,556 shares of beneficial ownership, with the extent of its pecuniary interest in those shares described in that Schedule 13D and this filing.

Insider Trade Summary

Net Buyer: 1 shares ($419)

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($419.26)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1	$419.26	$419.26

Holdings After Transaction: Common Stock — 3,435,497 shares (Direct)

Footnotes (1)

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Key Figures

Shares purchased: 1 share Purchase price: $419.26 per share Shares after transaction: 3,435,497 shares +1 more

4 metrics

Shares purchased 1 share Open-market purchase on April 15, 2026

Purchase price $419.26 per share Price for the 1 share of Common Stock

Shares after transaction 3,435,497 shares Direct holdings following the April 15, 2026 trade

Beneficial ownership 9,974,556 shares Reported in amended Schedule 13D as of April 13, 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 9,974,556 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

"is_ten_percent_owner: 1"

Form 4 Insider Transactions: What Each Field Means →

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)
04/15/2026

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	04/15/2026		P		1	A	$419.26	3,435,497(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 April 13, 2026, Horizon Kinetics Asset Management LLC ("HKAM") filed an amendment to its Schedule 13D wherein it reported beneficial ownership of 9,974,556 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	04/16/2026
	** 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)

FAQ

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

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land Corp Common Stock in an open-market purchase at $419.26 per share. This is a very small incremental trade relative to its reported overall shareholdings.

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

After the April 15, 2026 transaction, Horizon Kinetics Asset Management LLC directly held 3,435,497 shares of Texas Pacific Land Corp Common Stock. This post-transaction balance reflects the addition of the single share purchased in the reported open-market transaction.

What price did Horizon Kinetics pay for its latest TPL share purchase?

Horizon Kinetics Asset Management LLC paid $419.26 per share for its April 15, 2026 open-market purchase of 1 Texas Pacific Land Corp Common Stock share. This per-share price is explicitly disclosed as the transaction price in the filing data.

What does the Schedule 13D footnote say about Horizon Kinetics’ TPL holdings?

A footnote explains that on April 13, 2026, Horizon Kinetics Asset Management LLC filed an amended Schedule 13D reporting beneficial ownership of 9,974,556 Texas Pacific Land Corp shares. The filing notes that the extent of its pecuniary interest in those shares is disclosed there.

Is Horizon Kinetics considered a major shareholder of Texas Pacific Land (TPL)?

Yes. The reporting status indicates Horizon Kinetics Asset Management LLC is a ten percent owner of Texas Pacific Land Corp. The amended Schedule 13D referenced in the footnote reports beneficial ownership of 9,974,556 shares, underscoring its role as a significant shareholder.