Texas Pacific Land 10% holder buys 1 share

A 10% owner of Texas Pacific Land Corp made a small open-market purchase while reporting much larger beneficial ownership on an amended Schedule 13D.

Rhea-AI Filing Summary

Texas Pacific Land Corp (TPL) reported that major shareholder Horizon Kinetics Asset Management LLC purchased 1 share of common stock on September 10, 2026 at $366.18 per share. Following this trade, the reporting person directly holds 3,390,844 shares of Texas Pacific Land Corp common stock.

A footnote states that on May 7, 2026 Horizon Kinetics Asset Management LLC filed an amendment to its Schedule 13D reporting beneficial ownership of 10,109,933 shares, with the extent of its pecuniary interest in those shares described in this Form 4. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($366.18)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$366.18	$366.18

Holdings After Transaction: Common Stock — 3,390,844 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 is disclosed herein.

Key Figures

Shares purchased: 1 share Purchase price per share: $366.18 per share Direct holdings after transaction: 3,390,844 shares +3 more

6 metrics

Shares purchased 1 share Non-derivative common stock transaction on September 10, 2026

Purchase price per share $366.18 per share Price for the 1 share of Texas Pacific Land Corp common stock bought on September 10, 2026

Direct holdings after transaction 3,390,844 shares Texas Pacific Land Corp common stock directly held by Horizon Kinetics Asset Management LLC after the purchase

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

Reported buy transactions in this filing 1 transaction Count of purchase transactions in the Form 4 transaction summary

Net shares bought in this filing 1 share Net buy-sell shares according to the Form 4 transaction summary

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest

3 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"

FAQ

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

What insider transaction did TPL disclose for Horizon Kinetics Asset Management LLC?

Texas Pacific Land Corp disclosed that Horizon Kinetics Asset Management LLC purchased 1 share of TPL common stock on September 10, 2026 at $366.18 per share, increasing its directly held position to 3,390,844 shares after the transaction.

How many Texas Pacific Land Corp (TPL) shares does the reporting person directly hold after this Form 4?

After the reported transaction, Horizon Kinetics Asset Management LLC directly holds 3,390,844 shares of Texas Pacific Land Corp common stock, as stated in the Form 4’s post-transaction holdings field.

What larger beneficial ownership in TPL did Horizon Kinetics report on Schedule 13D?

A footnote explains that on May 7, 2026, Horizon Kinetics Asset Management LLC filed an amendment to its Schedule 13D reporting beneficial ownership of 10,109,933 shares of Texas Pacific Land Corp.

Was the TPL insider trade made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that the September 10, 2026 purchase was made pursuant to a Rule 10b5-1 trading plan.

What role does Horizon Kinetics Asset Management LLC have with Texas Pacific Land Corp (TPL)?

Horizon Kinetics Asset Management LLC is identified in the Form 4 as a ten percent owner of Texas Pacific Land Corp, reflecting a large ownership stake in the company’s common stock.

What type of transaction in TPL stock did Horizon Kinetics execute?

The Form 4 classifies the September 10, 2026 activity as a purchase in an open market or private transaction of non-derivative TPL common stock, coded as a standard purchase transaction.

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

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Available on EDGAR 09/11/2026 - 11:13 AM Accepted by SEC EDGAR 09/11/2026 - 11:13 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)

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)
09/10/2026

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	09/10/2026		P		1	A	$366.18	3,390,844(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 is disclosed herein.

	/s/ Jay Kesslen, attorney-in-fact	09/11/2026
	** 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)