Texas Pacific Land 10% owner buys 4 shares

The ownership disclosure also describes 26,657 shares delivered without consideration in a client in-kind redemption.

Rhea-AI Filing Summary

Texas Pacific Land Corp (TPL) reports that its 10% owner, Horizon Kinetics Asset Management LLC, purchased 4 common shares on September 29, 2026, at $340.96 per share. The reported direct position following the purchase was 3,364,203 shares, and no Rule 10b5-1 plan is reported. Horizon Kinetics' May 7, 2026 Schedule 13D amendment reported beneficial ownership of 10,109,933 shares.

Insider Trade Summary

Net Buyer: 4 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 4 shs ($1K)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1, F2	4	$340.96	$1K

Holdings After Transaction: Common Stock — 3,364,203 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 26,657 shares delivered without consideration as part of a client in-kind redemption.

Key Figures

Common shares purchased: 4 shares Purchase price: $340.96 per share Direct shares following purchase: 3,364,203 shares +2 more

5 metrics

Common shares purchased 4 shares September 29, 2026

Purchase price $340.96 per share September 29, 2026

Direct shares following purchase 3,364,203 shares Reported after the transaction

Schedule 13D beneficial ownership 10,109,933 shares Reported in a May 7, 2026 amendment

Shares delivered without consideration 26,657 shares Client in-kind redemption

Key Terms

pecuniary interest, beneficial ownership, in-kind redemption

3 terms

pecuniary interest financial

"The extent of HKAM's pecuniary interest"

beneficial ownership regulatory

"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.

in-kind redemption financial

"as part of a client in-kind redemption"

FAQ

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

How many TPL shares did Horizon Kinetics buy, and at what price?

Horizon Kinetics Asset Management LLC purchased 4 common shares on September 29, 2026, at $340.96 per share. The reported direct position following the purchase was 3,364,203 shares, and no Rule 10b5-1 plan is reported.

What did TPL's ownership disclosure say about a client in-kind redemption?

The ownership note describes a 26,657-share reduction, with those shares delivered without consideration as part of a client in-kind redemption.

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

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Available on EDGAR 10/01/2026 - 03:34 PM Accepted by SEC EDGAR 10/01/2026 - 03:34 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)
09/29/2026

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	09/29/2026		P		4	A	$340.96	3,364,203(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 26,657 shares delivered without consideration as part of a client in-kind redemption.

	/s/ Jay Kesslen, attorney-in-fact	10/01/2026
	** 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)