Texas Pacific Land Corp (TPL) holder Horizon Kinetics notes minor share buy

Rhea-AI Filing Summary

Horizon Kinetics Asset Management LLC, a more than 10% owner of Texas Pacific Land Corp, purchased 1 share of common stock on July 22, 2026 at $427.42 per share in an open-market or private transaction.

After this trade it directly holds 3,263,681 shares. A Schedule 13D amendment dated May 7, 2026 reported beneficial ownership of 10,109,933 shares.

Insider Trade Summary

Net Buyer: 1 shares

Net Buy 1 txn

Insider HORIZON KINETICS ASSET MANAGEMENT LLC

Role 10% Owner

Bought 1 shs ($427.42)

Type	Security	Shares	Price	Value
Purchase	Common Stock F1	1	$427.42	$427.42

Holdings After Transaction: Common Stock — 3,263,681 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: $427.42 per share Direct holdings after transaction: 3,263,681 shares +2 more

5 metrics

Shares purchased 1 share Common stock transaction on July 22, 2026

Purchase price $427.42 per share Price for Texas Pacific Land Corp common stock bought July 22, 2026

Direct holdings after transaction 3,263,681 shares Common stock directly held by Horizon Kinetics Asset Management LLC after the trade

Beneficial ownership 10,109,933 shares Shares reported in Schedule 13D amendment dated May 7, 2026

Transaction date July 22, 2026 Date of reported purchase of Texas Pacific Land Corp common stock

Key Terms

Schedule 13D, beneficial ownership, pecuniary interest, open market or private transaction

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

"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"

open market or private transaction market

"transaction code P described as Purchase in open market or private transaction"

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/23/2026 - 01:43 PM Accepted by SEC EDGAR 07/23/2026 - 01:43 PM Learn about SEC filing dates

FAQ

What insider transaction in TPL did Horizon Kinetics report?

Horizon Kinetics Asset Management reported buying 1 share of Texas Pacific Land Corp (TPL) common stock on July 22, 2026 at $427.42 per share, recorded as a purchase in an open-market or private transaction.

How many TPL shares does Horizon Kinetics directly hold after this trade?

Following the reported transaction, Horizon Kinetics Asset Management directly holds 3,263,681 shares of Texas Pacific Land Corp common stock, as shown in the post-transaction ownership reported in the Form 4.

What is Horizon Kinetics’ reported beneficial ownership in TPL?

A Schedule 13D amendment dated May 7, 2026 reported that Horizon Kinetics Asset Management had beneficial ownership of 10,109,933 shares of Texas Pacific Land Corp, reflecting its broader economic interest beyond the directly held shares.

Was Horizon Kinetics’ TPL trade under a Rule 10b5-1 plan?

The Rule 10b5-1 trading plan checkbox for this Texas Pacific Land Corp (TPL) transaction is not marked, so the report does not affirm that the July 22, 2026 purchase occurred pursuant to a Rule 10b5-1 trading plan.

What transaction code is used for Horizon Kinetics’ TPL trade?

The Texas Pacific Land Corp (TPL) transaction is coded P, described as a “Purchase in open market or private transaction”, indicating the 1-share acquisition was a buy rather than a sale or derivative exercise.

What role does Horizon Kinetics have with respect to TPL shares?

Horizon Kinetics Asset Management LLC is identified as a more than 10% owner of Texas Pacific Land Corp (TPL), with 3,263,681 shares held directly and 10,109,933 shares reported as beneficially owned in a Schedule 13D amendment.

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)
07/22/2026

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	07/22/2026		P		1	A	$427.42	3,263,681(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	07/23/2026
	** 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)