Texas Pacific Land Corp (TPL) 10% owner updates Form 4 share holdings

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a 10% owner of Texas Pacific Land Corp, reported a small open-market purchase of 1 share of common stock on January 9, 2026 at $309.15 per share. Following this trade, it reported beneficial ownership of 3,487,689 shares held directly. A footnote explains earlier disclosed beneficial ownership on a Schedule 13D, the effect of a three-for-one stock split effective December 22, 2025, and notes that Murray Stahl 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)
01/09/2026

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	01/09/2026		P		1	A	$309.15	3,487,689(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 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.

2. The change represents a reduction of 460 shares delivered without consideration as part of a client in-kind redemption.

	/s/ Jay Kesslen, attorney-in-fact	01/12/2026
	** 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

Who reported this Form 4 transaction for Texas Pacific Land Corp (TPL)?

The reporting person is Horizon Kinetics Asset Management LLC, which is identified as a 10% owner of Texas Pacific Land Corp.

What transaction did Horizon Kinetics Asset Management LLC report in TPL stock?

It reported a purchase of 1 share of Texas Pacific Land Corp common stock on January 9, 2026, coded as P for an open-market or private purchase.

At what price was the Texas Pacific Land Corp share purchased on January 9, 2026?

The 1 share of Texas Pacific Land Corp common stock was purchased at a price of $309.15 per share.

How many Texas Pacific Land Corp shares did Horizon Kinetics Asset Management LLC own after the reported transaction?

After the reported transaction, Horizon Kinetics Asset Management LLC reported beneficial ownership of 3,487,689 shares of Texas Pacific Land Corp common stock.

Is the ownership of TPL shares reported as direct or indirect for Horizon Kinetics Asset Management LLC?

The 3,487,689 shares of Texas Pacific Land Corp common stock are reported as direct ownership by Horizon Kinetics Asset Management LLC.

What does the Form 4 footnote say about Murray Stahl’s role regarding Texas Pacific Land Corp shares?

The footnote states that Murray Stahl does not exercise investment discretion with respect to the securities of Texas Pacific Land Corp, even though his direct and indirect interests were described in a Schedule 13D amendment.

What additional details are provided about past TPL ownership and stock split effects?

A footnote explains that a Schedule 13D amendment filed on December 18, 2024 noted beneficial ownership of 3,578,173 shares, and that the current disclosure reflects a three-for-one stock split effective December 22, 2025.