Horizon Kinetics buys Texas Pacific Land shares

Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp, reported purchasing 1 share of common stock on July 20, 2026 at $416.47 per share, bringing its directly reported holdings to 3,263,679 shares.

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 July 20, 2026 at $416.47 per share, bringing its directly reported holdings to 3,263,679 shares. A footnote notes an amended Schedule 13D filed May 7, 2026 reporting beneficial ownership of 10,109,933 shares, with the Form 4 disclosure describing HKAM's pecuniary interest in those shares. The transaction was not reported as pursuant to 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 ($416.47)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$416.47	$416.47

Holdings After Transaction: Common Stock — 3,263,679 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: $416.47 per share Direct holdings after trade: 3,263,679 shares +2 more

5 metrics

Shares purchased 1 share Common stock purchased on July 20, 2026

Purchase price $416.47 per share Price paid for the 1 share of common stock

Direct holdings after trade 3,263,679 shares Total common shares directly held by Horizon Kinetics after the transaction

Beneficial ownership 10,109,933 shares Shares reported beneficially owned on amended Schedule 13D filed May 7, 2026

Rule 10b5-1 status Not pursuant to Rule 10b5-1 plan Document-level checkbox for Rule 10b5-1 plans was unchecked

Key Terms

Schedule 13D, pecuniary interest, Rule 10b5-1, 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.

pecuniary interest financial

"The extent of HKAM's pecuniary interest in the shares reported in the Schedule 13D"

Rule 10b5-1 regulatory

"The transaction was not reported as pursuant to a Rule 10b5-1 trading plan"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

ten percent owner regulatory

"Horizon Kinetics Asset Management LLC is identified as a ten percent owner"

FAQ

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

What insider transaction did Horizon Kinetics report for TPL?

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land Corp common stock on July 20, 2026 at $416.47 per share, a very small addition relative to its existing multi-million share holdings.

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

After the reported purchase, Horizon Kinetics Asset Management LLC directly holds 3,263,679 shares of Texas Pacific Land Corp common stock. This figure reflects the shares in which it reports a pecuniary interest on the Form 4.

What level of beneficial ownership in TPL does Horizon Kinetics disclose?

An amended Schedule 13D filed by Horizon Kinetics Asset Management LLC on May 7, 2026 reported beneficial ownership of 10,109,933 shares of Texas Pacific Land Corp. The Form 4 further describes its pecuniary interest in these shares.

Was Horizon Kinetics’ TPL share purchase under a Rule 10b5-1 plan?

The Form 4 indicates the transaction was not made pursuant to a Rule 10b5-1 trading plan. The document’s specific checkbox for Rule 10b5-1 plans was left unchecked for this reported purchase.

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

Yes. Horizon Kinetics Asset Management LLC is identified as a ten percent owner of Texas Pacific Land Corp. Its amended Schedule 13D reports beneficial ownership of 10,109,933 TPL shares, indicating a substantial stake.

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

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Accepted by SEC EDGAR 07/21/2026 - 10:38 AM EDT 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)
07/20/2026

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	07/20/2026		P		1	A	$416.47	3,263,679(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	07/21/2026
	** 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)