Texas Pacific Land (TPL) holder Horizon Kinetics logs small insider share purchase

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp (TPL), reported buying 1 share of common stock on February 5, 2026 at $341.52 per share. After this small purchase, it beneficially owned 3,479,367 shares directly.

A footnote explains that an earlier Schedule 13D amendment on December 18, 2024 reported Horizon Kinetics’ beneficial ownership of 3,578,173 shares and noted Murray Stahl’s separate direct and indirect interests. The disclosure also states that these figures reflect a three-for-one stock split effective December 22, 2025 and that Mr. Stahl does not exercise investment discretion over Texas Pacific Land securities.

Insider Trade Summary

Net Buyer: 1 shares ($342)

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($341.52)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1	$341.52	$341.52

Holdings After Transaction: Common Stock — 3,479,367 shares (Direct)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

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 NY 10016

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	02/05/2026		P		1	A	$341.52	3,479,367(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 December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein and reflects a three-for-one stock split effective December 22, 2025. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.

	/s/ Jay Kesslen, attorney-in-fact	02/06/2026
	** 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.

FAQ

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

Horizon Kinetics Asset Management LLC reported purchasing 1 share of Texas Pacific Land common stock. The transaction occurred on February 5, 2026 at a price of $341.52 per share, increasing its directly beneficially owned position to 3,479,367 shares after the trade.

Who is the reporting person on this Texas Pacific Land (TPL) Form 4 filing?

The reporting person is Horizon Kinetics Asset Management LLC, identified as a more than 10% owner of Texas Pacific Land Corp. The filing is made on its behalf, with a small open-market common stock purchase reported and a total of 3,479,367 shares owned directly afterward.

How many Texas Pacific Land (TPL) shares does Horizon Kinetics own after this Form 4 transaction?

After the reported transaction, Horizon Kinetics Asset Management LLC beneficially owns 3,479,367 shares of Texas Pacific Land common stock. This total reflects its direct holdings following the purchase of 1 additional share on February 5, 2026 at a price of $341.52 per share.

What price was paid per share in the latest Horizon Kinetics Form 4 for Texas Pacific Land (TPL)?

The Form 4 shows a per‑share purchase price of $341.52 for Texas Pacific Land common stock. Horizon Kinetics Asset Management LLC acquired 1 share at this price in a transaction dated February 5, 2026, modestly increasing its large existing ownership position in the company.

What does the Form 4 footnote say about Murray Stahl and Texas Pacific Land (TPL)?

The footnote notes a prior Schedule 13D amendment reporting Murray Stahl’s direct ownership of 7,848 shares and indirect interest in about 156,083 shares. It also states that Mr. Stahl does not exercise investment discretion regarding Texas Pacific Land securities held by Horizon Kinetics Asset Management LLC.

How does the three-for-one stock split affect Horizon Kinetics’ Texas Pacific Land (TPL) holdings?

The disclosure states that the extent of Horizon Kinetics’ pecuniary interest in Texas Pacific Land shares reflects a three-for-one stock split effective December 22, 2025. This means the reported beneficial ownership figures incorporate the split-adjusted share count in the company’s common stock.