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 Corp (TPL), made a small open-market purchase: 1 share at $369.10 on 2026-09-01 (total cost ~$369). This is a purchase (a bullish signal in principle), but the size is de minimis relative to institutional holdings.

Key Details

• Transaction date: 2026-09-01; price: $369.10; shares purchased: 1; total value: ~$369.
• Filing date: 2026-09-02 (appears timely, filed the next day).
• Shares owned after transaction: HKAM previously reported beneficial ownership of 10,109,933 shares (Schedule 13D filed May 7, 2026); this 1-share purchase would increase that count to 10,109,934, subject to other adjustments noted below.
• Footnotes of the Form 4:
  • F1: HKAM reported beneficial ownership of 10,109,933 shares on a Schedule 13D amendment filed May 7, 2026; the extent of its pecuniary interest is disclosed there.
  • F2: The filing notes a separate reduction of 1,279 shares delivered without consideration as part of a client in‑kind redemption.
• Transaction code: P = Purchase.

Context

• This filing is from an institutional 10% owner, not an individual executive—institutional buys/sells can reflect portfolio/client activity rather than personal trading intent.
• The purchase is extremely small relative to HKAM’s reported stake (~10.1M shares), so it should not be interpreted as a material change in conviction on its own.