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

What Happened
Horizon Kinetics Asset Management LLC, a reported 10% beneficial owner of Texas Pacific Land Corporation (TPL), purchased 1 share on August 28, 2026 at $364.42 per share, for a total of about $364. This was a purchase (rather than a sale), but the trade size is de minimis.

Key Details

• Transaction date and price: 2026-08-28 — 1 share acquired at $364.42 (code P: purchase).
• Reported beneficial ownership: HKAM previously reported beneficial ownership of 10,109,933 shares in a Schedule 13D amendment filed May 7, 2026; this 1-share buy would bring that to 10,109,934 shares (per the filing disclosures).
• Footnote: F1 references the May 7, 2026 Schedule 13D showing HKAM’s 10% position and discloses the extent of its pecuniary interest.
• Filing: Form 4 filed Aug 31, 2026 (no late-filing flag indicated in the filing).

Context
HKAM is an institutional 10% holder, not a company executive — institutional purchases can reflect portfolio adjustments rather than insider sentiment. Given the single-share size (~$364), this specific transaction is likely administrative or de minimis and should not be overinterpreted by retail investors.