Texas Pacific Land major holder buys additional share

Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp, purchased 1 share of common stock on July 27, 2026 at $409.31 per share in an open-market or private transaction.

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a ten percent owner of Texas Pacific Land Corp, purchased 1 share of common stock on July 27, 2026 at $409.31 per share in an open-market or private transaction. Following this trade, it directly held 3,263,684 shares. An earlier Schedule 13D amendment filed on May 7, 2026 reported beneficial ownership of 10,109,933 shares and describes HKAM’s pecuniary interest in those shares. The transaction is not marked as being made 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 ($409.31)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$409.31	$409.31

Holdings After Transaction: Common Stock — 3,263,684 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: $409.31 per share Shares held after transaction: 3,263,684 shares +2 more

5 metrics

Shares purchased 1 share Common Stock transaction on July 27, 2026

Purchase price $409.31 per share Price for the Common Stock purchase

Shares held after transaction 3,263,684 shares Direct holdings of Horizon Kinetics Asset Management LLC following the purchase

Beneficial ownership in Schedule 13D 10,109,933 shares Beneficial ownership reported in Schedule 13D amendment filed May 7, 2026

Net buy shares 1 share Net buy-sell shares in the transaction summary

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, open market or private transaction

4 terms

Schedule 13D financial

"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 the Schedule 13D"

open market or private transaction financial

"Purchase in open market or private transaction"

FAQ

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

What did Horizon Kinetics Asset Management LLC report in its latest Form 4 for TPL?

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land common stock at $409.31 on July 27, 2026. After this open-market or private purchase, it directly held 3,263,684 shares of TPL common stock.

How many Texas Pacific Land (TPL) shares did Horizon Kinetics buy and at what price?

Horizon Kinetics bought 1 share of Texas Pacific Land common stock at a price of $409.31 per share. The transaction code description characterizes this as a purchase in an open-market or private transaction.

What is Horizon Kinetics’ direct Texas Pacific Land (TPL) holding after this transaction?

Following the July 27, 2026 purchase, Horizon Kinetics Asset Management LLC directly held 3,263,684 shares of Texas Pacific Land common stock. This figure reflects the total direct position reported immediately after the 1‑share acquisition.

What does the Schedule 13D footnote in the TPL Form 4 say about ownership?

The footnote explains that a May 7, 2026 amendment to Horizon Kinetics’ Schedule 13D reported 10,109,933 shares of beneficial ownership. It also notes that the extent of HKAM’s pecuniary interest in those shares is described in that Schedule 13D.

Was the July 27, 2026 TPL trade by Horizon Kinetics under a Rule 10b5-1 plan?

No. The Form 4 indicates the Rule 10b5‑1 checkbox is not selected, so this 1‑share purchase at $409.31 is not identified as being executed under a Rule 10b5‑1 trading plan.

What type of owner is Horizon Kinetics Asset Management LLC in relation to Texas Pacific Land (TPL)?

Horizon Kinetics Asset Management LLC is identified as a ten percent owner of Texas Pacific Land Corp. This status is reflected in the Form 4 reporting person details alongside its direct holding of 3,263,684 common shares after the reported trade.

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

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Available on EDGAR 07/28/2026 - 11:27 AM Accepted by SEC EDGAR 07/28/2026 - 11:26 AM 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)
07/27/2026

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	07/27/2026		P		1	A	$409.31	3,263,684(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	07/28/2026
	** 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)