Texas Pacific Land 10% holder buys 1 share at $369

Horizon Kinetics bought 1 share on Sept. 1, 2026 at $369.10, raising its directly held stake to 3,242,743 shares.

Rhea-AI Filing Summary

Texas Pacific Land Corp (TPL) reported an insider ownership update by Horizon Kinetics Asset Management LLC, a more than 10% owner. On September 1, 2026, Horizon Kinetics purchased 1 share of common stock at $369.10 per share, bringing its directly held position to 3,242,743 shares. Footnotes state that Horizon Kinetics previously reported 10,109,933 shares of beneficial ownership on an amended Schedule 13D and that a reduction of 1,279 shares occurred through an in-kind redemption delivered without consideration. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($369.10)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2	1	$369.10	$369.10

Holdings After Transaction: Common Stock — 3,242,743 shares (Direct)

Footnotes (2)

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.
2. F2. The change represents a reduction of 1,279 shares delivered without consideration as part of a client in-kind redemption.

Key Figures

Shares purchased: 1 share Purchase price per share: $369.10 per share Shares held directly after transaction: 3,242,743 shares +2 more

5 metrics

Shares purchased 1 share Common stock transaction on September 1, 2026

Purchase price per share $369.10 per share Common stock purchase on September 1, 2026

Shares held directly after transaction 3,242,743 shares Direct holdings of Horizon Kinetics Asset Management LLC after the reported trade

Beneficial ownership reported on Schedule 13D 10,109,933 shares Beneficial ownership of Texas Pacific Land Corp reported on amended Schedule 13D filed May 7, 2026

Shares reduced via in-kind redemption 1,279 shares Reduction described as delivered without consideration as part of a client in-kind redemption

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, in-kind redemption, +1 more

5 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"

in-kind redemption financial

"delivered without consideration as part of a client in-kind redemption"

more than 10% owner regulatory

"is_ten_percent_owner 1 in the reporting person information"

FAQ

What insider transaction did Horizon Kinetics report for TPL on September 1, 2026?

Horizon Kinetics Asset Management LLC reported purchasing 1 share of Texas Pacific Land Corp common stock at $369.10 per share on September 1, 2026, in an open-market or private transaction.

How many TPL shares does Horizon Kinetics hold directly after this Form 4 transaction?

After the reported transaction, Horizon Kinetics Asset Management LLC directly holds 3,242,743 shares of Texas Pacific Land Corp common stock, as stated in the filing.

What total beneficial ownership in TPL has Horizon Kinetics reported on Schedule 13D?

Horizon Kinetics Asset Management LLC disclosed in an amended Schedule 13D filed May 7, 2026 that it had beneficial ownership of 10,109,933 shares of Texas Pacific Land Corp.

Did Horizon Kinetics trade TPL shares under a Rule 10b5-1 plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked, and no footnote states that the Texas Pacific Land Corp transaction was made pursuant to a Rule 10b5-1 trading plan.

What does the 1,279-share change mentioned in the TPL Form 4 footnote refer to?

A footnote states that a change in Horizon Kinetics’ position represents a reduction of 1,279 shares that were delivered without consideration as part of a client in-kind redemption.

Who is the reporting person in this TPL Form 4 and what is their status?

The reporting person is Horizon Kinetics Asset Management LLC. It is not listed as a director or officer of Texas Pacific Land Corp but is identified as a more than 10% owner of the company’s common stock.

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Available on EDGAR 09/02/2026 - 01:16 PM Accepted by SEC EDGAR 09/02/2026 - 01:15 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)
09/01/2026

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	09/01/2026		P		1	A	$369.1	3,242,743(1)(2)	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.

2. The change represents a reduction of 1,279 shares delivered without consideration as part of a client in-kind redemption.

	/s/ Jay Kesslen, attorney-in-fact	09/02/2026
	** 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)