HORIZON KINETICS ASSET MANAGEMENT LLC 4

4 · Texas Pacific Land Corp · Filed Feb 17, 2026

AI-generated summary of this filing

Updated Feb 17, 2026

Texas Pacific Land (TPL) — Horizon Kinetics (10% Owner) Buys 1 Share

What Happened

Horizon Kinetics Asset Management LLC (reported 10% owner) purchased 1 share of Texas Pacific Land Corporation (TPL) in an open-market/private purchase (code P) on February 13, 2026 at $426.38 per share, for a total of $426.38.
This was a purchase (potentially a bullish action in general), but the size—one share—is immaterial and likely routine.

Key Details

Transaction date and price: Feb 13, 2026 — 1 share at $426.38.
Shares owned after transaction: based on HKAM’s prior Schedule 13D amendment (footnote), HKAM reported beneficial ownership of 3,578,173 shares; adding this purchase yields 3,578,174 shares beneficially owned.
Footnote: the 13D amendment (filed Dec 18, 2024) discloses the 3-for-1 stock split effective Dec 22, 2025 and notes Murray Stahl’s reported direct and indirect interests; Mr. Stahl does not exercise investment discretion for the issuer’s securities.
Filing timeliness: Form 4 was filed Feb 17, 2026. Given the Feb 16 federal holiday (Presidents’ Day), this filing falls within the standard two-business-day reporting window.

Context

Horizon Kinetics is an institutional 10% beneficial owner, not an individual executive — institutional filings can reflect portfolio activity rather than insider sentiment.
A one-share purchase is de minimis and should not be taken as a meaningful signal of a change in conviction or strategy.

Form 4

Period: 2026-02-13

10% Owner

Transactions

Footnotes (1)

[F1]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.

Signature

/s/Jay Kesslen, attorney-in-fact|2026-02-17

1 file