Horizon Kinetics buys small stake in Texas Pacific Land

Horizon Kinetics Asset Management LLC, a more than ten percent owner of Texas Pacific Land Corp, reported a very small open-market purchase of common stock.

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more than ten percent owner of Texas Pacific Land Corp, reported a very small open-market purchase of common stock. It bought 1 share on June 5, 2026 at $394.84 per share and now holds 3,393,547 shares directly. A footnote notes that an amended Schedule 13D filed on May 7, 2026 reported beneficial ownership of 10,109,933 shares, with the extent of HKAM’s pecuniary interest in those shares described in that Schedule 13D.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($394.84)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1	$394.84	$394.84

Holdings After Transaction: Common Stock — 3,393,547 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: $394.84 per share Direct holdings after trade: 3,393,547 shares +1 more

4 metrics

Shares purchased 1 share Open-market purchase on June 5, 2026

Purchase price $394.84 per share Price for the 1 share of common stock

Direct holdings after trade 3,393,547 shares Total Texas Pacific Land common stock directly held after transaction

Beneficial ownership reported 10,109,933 shares Beneficial ownership in Texas Pacific Land per amended Schedule 13D filed May 7, 2026

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, ten percent owner

4 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

"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"

ten percent owner regulatory

"HORIZON KINETICS ASSET MANAGEMENT LLC ... is_ten_percent_owner"

FAQ

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

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

Horizon Kinetics Asset Management reported buying 1 share of Texas Pacific Land common stock at $394.84 on June 5, 2026. After this small open-market purchase, it directly holds 3,393,547 shares, according to the Form 4 disclosure.

How many Texas Pacific Land shares does Horizon Kinetics now hold directly?

Following the June 5, 2026 transaction, Horizon Kinetics Asset Management directly holds 3,393,547 Texas Pacific Land common shares. This total reflects its position after purchasing 1 additional share in the open market at a price of $394.84 per share.

What price did Horizon Kinetics pay per TPL share in the recent transaction?

Horizon Kinetics Asset Management paid $394.84 per share for its recent Texas Pacific Land purchase. The transaction involved buying a single share of common stock in an open-market trade, as recorded in the Form 4 insider filing for June 5, 2026.

How many TPL shares did Horizon Kinetics buy in the June 2026 trade?

Horizon Kinetics Asset Management bought 1 share of Texas Pacific Land common stock in the June 5, 2026 transaction. The filing characterizes this as an open-market purchase, slightly increasing its already large existing direct holdings in the company.

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

An amended Schedule 13D filed May 7, 2026 reported Horizon Kinetics Asset Management’s beneficial ownership of 10,109,933 Texas Pacific Land shares. The filing notes that the extent of HKAM’s pecuniary interest in those shares is described within that Schedule 13D document.

Is Horizon Kinetics considered a ten percent owner of Texas Pacific Land?

Yes, Horizon Kinetics Asset Management is identified as a more than ten percent owner of Texas Pacific Land. This status appears in the Form 4 reporting structure and aligns with the substantial beneficial ownership disclosed in its amended Schedule 13D filing.

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

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Accepted by SEC EDGAR 06/08/2026 - 11:21 AM EDT 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)
06/05/2026

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	06/05/2026		P		1	A	$394.84	3,393,547(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	06/08/2026
	** 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)