Texas Pacific Land (TPL) holder Horizon Kinetics buys 1 share

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a 10% owner of Texas Pacific Land Corp (TPL), reported a small open‑market purchase of common stock. On February 9, 2026 it bought 1 share at $371.57, bringing its directly held position to 3,479,369 shares.

A prior Schedule 13D amendment dated December 18, 2024 had noted Horizon Kinetics’ beneficial ownership of 3,578,173 shares and separate direct and indirect interests held by Murray Stahl, who does not exercise investment discretion over the issuer’s securities.

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

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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)
02/09/2026

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	02/09/2026		P		1	A	$371.57	3,479,369(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	02/10/2026
	** 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).
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FAQ

What insider transaction involving TPL did Horizon Kinetics report?

Horizon Kinetics Asset Management LLC reported buying 1 share of Texas Pacific Land Corp (TPL) common stock. The February 9, 2026 purchase was at $371.57 per share and increased its directly held position to 3,479,369 shares as disclosed in the Form 4 filing.

Who is the reporting person in the latest Texas Pacific Land (TPL) Form 4?

The reporting person is Horizon Kinetics Asset Management LLC, identified as a 10% owner of Texas Pacific Land Corp (TPL). It files individually, not jointly, and reports transactions and holdings in TPL common stock under Section 16 beneficial ownership rules.

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

After the reported February 9, 2026 transaction, Horizon Kinetics Asset Management LLC directly holds 3,479,369 shares of Texas Pacific Land Corp (TPL) common stock. This figure reflects its position following the small open‑market purchase of 1 additional share at $371.57.

What price was paid per share in Horizon Kinetics’ recent TPL stock purchase?

Horizon Kinetics Asset Management LLC paid $371.57 per share for the 1 share of Texas Pacific Land Corp (TPL) common stock it purchased on February 9, 2026. This transaction was reported with transaction code "P" for a market purchase.

What prior ownership information about TPL did Horizon Kinetics reference?

The Form 4 footnote references a December 18, 2024 Schedule 13D amendment, which noted beneficial ownership of 3,578,173 Texas Pacific Land Corp (TPL) shares and separate direct and indirect holdings associated with Murray Stahl, as well as a three‑for‑one stock split effective December 22, 2025.

Does Murray Stahl control investment decisions for Horizon Kinetics’ TPL holdings?

No. The footnote states that Murray Stahl does not exercise investment discretion with respect to Texas Pacific Land Corp (TPL) securities. The Form 4 attributes the reported ownership and the February 9, 2026 transaction to Horizon Kinetics Asset Management LLC as the reporting person.