Horizon Kinetics buys Texas Pacific Land stock

Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp, reported an open-market purchase of 1 share of common stock on July 16, 2026 at $416.05 per share.

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp, reported an open-market purchase of 1 share of common stock on July 16, 2026 at $416.05 per share. Following this transaction, it reports 3,263,677 shares, with a footnote stating that on May 7, 2026 it filed a Schedule 13D amendment reporting beneficial ownership of 10,109,933 shares and that the extent of its pecuniary interest in those shares is disclosed here. 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 ($416.05)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$416.05	$416.05

Holdings After Transaction: Common Stock — 3,263,677 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: $416.05 per share Shares after transaction (pecuniary interest): 3,263,677 shares +1 more

4 metrics

Shares purchased 1 share Common stock bought on July 16, 2026

Purchase price $416.05 per share Price for the 1 share acquired on July 16, 2026

Shares after transaction (pecuniary interest) 3,263,677 shares Total shares reported following the transaction, footnoted to pecuniary interest

Beneficial ownership per Schedule 13D 10,109,933 shares Shares of beneficial ownership reported in a May 7, 2026 Schedule 13D amendment

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, Rule 10b5-1

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

"filed an amendment to its Schedule 13D 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 in the Schedule 13D are disclosed herein"

Rule 10b5-1 regulatory

"The transaction was not reported as executed under 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.

FAQ

What insider trade did Horizon Kinetics report for Texas Pacific Land Corp (TPL)?

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land Corp common stock on July 16, 2026 at $416.05 per share. The purchase was an open-market or private transaction reported on Form 4.

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

After the July 16, 2026 purchase, Horizon Kinetics reports 3,263,677 shares, reflecting its pecuniary interest described in the filing. A related footnote notes 10,109,933 shares of beneficial ownership reported in a prior Schedule 13D amendment.

At what price did Horizon Kinetics buy Texas Pacific Land Corp (TPL) stock?

Horizon Kinetics bought the reported Texas Pacific Land Corp share at a price of $416.05 per share. The filing identifies this as the per-share purchase price for the 1 share acquired on July 16, 2026.

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

Yes. The reporting person is identified as a more than 10% owner of Texas Pacific Land Corp. A May 7, 2026 Schedule 13D amendment reported 10,109,933 shares of beneficial ownership for Horizon Kinetics Asset Management LLC.

Was Horizon Kinetics’ TPL trade made under a Rule 10b5-1 plan?

The transaction was not reported as executed under a Rule 10b5-1 trading plan. The filing’s Rule 10b5-1 checkbox is unchecked, and no footnote indicates that a pre-arranged trading plan governed this purchase.

What is the relationship between Horizon Kinetics’ pecuniary interest and its beneficial ownership in TPL?

The filing reports 3,263,677 shares after the transaction, with a footnote stating this reflects Horizon Kinetics’ pecuniary interest. It also references a prior Schedule 13D amendment reporting 10,109,933 shares of beneficial ownership as of May 7, 2026.

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Available on EDGAR 07/17/2026 - 12:20 PM Accepted by SEC EDGAR 07/17/2026 - 12:19 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)

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)
07/16/2026

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	07/16/2026		P		1	A	$416.05	3,263,677(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	07/17/2026
	** 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)