HORIZON KINETICS ASSET MANAGEMENT LLC 4

What Happened
Horizon Kinetics Asset Management LLC (reported as a 10% owner) purchased 1 share of Texas Pacific Land Corp (TPL) in an open-market transaction on April 9, 2026 at $401.64 per share, a total of about $402. This is a purchase (a bullish signal in general terms), though the size is immaterial.

Key Details

• Transaction date and price: 2026-04-09 — open-market purchase of 1 share at $401.64 per share (total ≈ $402).
• Shares owned / reported holdings: HKAM reported beneficial ownership of 10,050,070 shares on its Schedule 13D filed March 26, 2026; this Form 4 records one additional share purchased.
• Footnote: The Schedule 13D amendment (filed Mar 26, 2026) discloses HKAM’s beneficial ownership of 10,050,070 shares; the Form 4 notes HKAM’s pecuniary interest as disclosed there.
• Timeliness: Filing (period 2026-04-09) was submitted on 2026-04-10 — appears to be timely.

Context

• This is an institutional 10% owner (Horizon Kinetics), not an executive officer; such filings reflect institutional holdings rather than personal executive trading.
• The trade size is nominal (1 share), so it likely reflects administrative/rounding reasons rather than a meaningful new directional bet.