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

What Happened Horizon Kinetics Asset Management LLC, reported as a 10% beneficial owner of Texas Pacific Land Corp (TPL), executed an open-market purchase of 1 share on September 16, 2026 at $352.36 per share, a total of about $352. This was a purchase (a bullish signal in principle), although the trade size is de minimis relative to the firm’s reported holding.

Key Details

• Transaction date and price: 2026-09-16 — Purchase (open market) of 1 share at $352.36.
• Aggregate value: Approximately $352.
• Shares owned after transaction: Per HKAM’s Schedule 13D amendment filed May 7, 2026, HKAM reported beneficial ownership of 10,109,933 shares; adding this 1-share purchase implies ~10,109,934 shares beneficially owned.
• Footnote: F1 references the Schedule 13D amendment (filed May 7, 2026) disclosing the 10% ownership and the extent of HKAM’s pecuniary interest.
• Filing timeliness: No late-filing flag noted in this Form 4.

Context This filing reflects an institutional 10% owner making a very small open-market purchase; such tiny buys are common and typically not material to the holder’s overall position. For retail investors, purchases by insiders or large holders can be informative, but the economic significance here is negligible given the size of HKAM’s reported stake.