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

What Happened
Horizon Kinetics Asset Management LLC, a reported 10% beneficial owner of Texas Pacific Land Corp (TPL), purchased 1 share on 2026-08-31 at $369.47 per share (total ≈ $369). This transaction is a purchase (P) reported on a Form 4 and is a small addition relative to Horizon Kinetics’ previously disclosed stake.

Key Details

• Transaction date and type: 2026-08-31 — purchase (Code P), described as an open market or private purchase.
• Price and value: $369.47 per share; total reported value ≈ $369.
• Shares owned after transaction: Horizon Kinetics reported beneficial ownership of 10,109,933 shares in a Schedule 13D amendment filed May 7, 2026; adding this 1-share purchase implies 10,109,934 shares.
• Footnote: The filing references a Schedule 13D (see F1) that discloses Horizon Kinetics’ 10,109,933-share position as of May 7, 2026.
• Timeliness: Form 4 was filed 2026-09-01 for the 2026-08-31 transaction — consistent with normal Form 4 reporting timing.

Context
Horizon Kinetics is an institutional 10% owner, not an executive of TPL. A single-share purchase is immaterial relative to its multi-million-share stake and may be administrative in nature; it should not be overinterpreted as a material signal about company prospects. Purchases generally attract more attention than sales, but size and context matter.