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

What Happened

Horizon Kinetics Asset Management LLC, listed as a 10% owner of Texas Pacific Land Corporation (TPL), reported an open-market purchase of 1 share on 2026-09-11 at $367.88 per share, for a total of $367.88 (reported as $368). This transaction is a purchase (P), which is typically viewed as a buying signal, though a single-share trade is economically immaterial.

Key Details

• Transaction date and price: 2026-09-11, purchase at $367.88 per share.
• Shares acquired: 1 share; total value ≈ $368.
• Shares reported owned after transaction: previously reported beneficial ownership was 10,109,933 shares (Schedule 13D filed May 7, 2026); this purchase increases that total to 10,109,934 shares.
• Footnote: The filer amended a Schedule 13D on May 7, 2026 reporting beneficial ownership of 10,109,933 shares; the filing discloses the extent of HKAM's pecuniary interest (see footnote F1).
• Timeliness: Form 4 filed 2026-09-14 for the 2026-09-11 trade; filing appears timely under Form 4 rules.

Context

Horizon Kinetics is an institutional 10% owner (reported via Schedule 13D), not an officer or director of TPL. Institutional purchases can matter for investors, but a one-share open-market purchase is effectively nominal and should not be overinterpreted.