Horizon Kinetics (NYSE: TPL) now directly holds 3.24M shares

Rhea-AI Filing Summary

Texas Pacific Land Corp (TPL) had an insider transaction reported by major shareholder Horizon Kinetics Asset Management LLC. On August 25, 2026, the reporting person purchased 1 share of common stock at $372.58 per share, bringing its directly held position to 3,244,017 shares. A related Schedule 13D amendment filed by Horizon Kinetics Asset Management LLC on May 7, 2026 reported beneficial ownership of 10,109,933 shares, with this Form 4 specifying the extent of its pecuniary interest in those shares.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($372.58)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$372.58	$372.58

Holdings After Transaction: Common Stock — 3,244,017 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 of Common Stock Purchase price per share: $372.58 per share Shares directly held after transaction: 3,244,017 shares +1 more

4 metrics

Shares purchased 1 share of Common Stock Non-derivative purchase on August 25, 2026

Purchase price per share $372.58 per share Price paid for the 1 share purchased on August 25, 2026

Shares directly held after transaction 3,244,017 shares Total direct holdings of Horizon Kinetics Asset Management LLC following the reported transaction

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

Key Terms

Form 4, Schedule 13D, beneficial ownership, pecuniary interest, +1 more

5 terms

Form 4 regulatory

"The filing reports that Horizon Kinetics Asset Management LLC purchased 1 share"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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 in the Schedule 13D"

ten percent owner regulatory

"The reporting person, Horizon Kinetics Asset Management LLC, is identified as a ten percent owner"

FAQ

What insider transaction did Horizon Kinetics report for TPL on this Form 4?

The filing reports that Horizon Kinetics Asset Management LLC purchased 1 share of Texas Pacific Land Corp common stock on August 25, 2026 at a price of $372.58 per share, classified as a direct ownership transaction.

How many Texas Pacific Land Corp (TPL) shares does Horizon Kinetics hold after this transaction?

After the August 25, 2026 purchase, Horizon Kinetics Asset Management LLC is reported as directly holding 3,244,017 shares of Texas Pacific Land Corp common stock, according to the post-transaction holdings figure in the Form 4.

What price was paid per share in the latest Horizon Kinetics TPL trade?

The Form 4 states that Horizon Kinetics Asset Management LLC bought the 1 share of Texas Pacific Land Corp common stock at a price of $372.58 per share in an open-market or private purchase transaction.

What level of beneficial ownership in TPL does Horizon Kinetics report in its Schedule 13D?

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

Is the Horizon Kinetics Form 4 for TPL filed under a Rule 10b5-1 trading plan?

The Form 4 indicates the Rule 10b5-1 checkbox is not checked, and there is no footnote stating the trade was made pursuant to a Rule 10b5-1 trading plan.

What is Horizon Kinetics’ status in relation to Texas Pacific Land Corp (TPL)?

The reporting person, Horizon Kinetics Asset Management LLC, is identified on the Form 4 as a ten percent owner of Texas Pacific Land Corp, meaning it reports ownership exceeding 10% of the company’s outstanding common stock.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/26/2026 - 10:22 AM Accepted by SEC EDGAR 08/26/2026 - 10:22 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)
08/25/2026

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	08/25/2026		P		1	A	$372.58	3,244,017(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	08/26/2026
	** 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)