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

What Happened

• Horizon Kinetics Asset Management LLC, reported as a 10% owner of Texas Pacific Land Corp (TPL), purchased 1 share in an open-market transaction on September 17, 2026. The share was acquired at $349.35, a total cost of roughly $349. This is a straight purchase (transaction code P), which is a bullish signal in principle but very small in size.

Key Details

• Transaction date and price: 2026-09-17, open-market purchase at $349.35 per share.
• Shares acquired: 1 share; total reported value ≈ $349.
• Shares owned after transaction: Per HKAM’s Schedule 13D filed May 7, 2026, the firm reported beneficial ownership of 10,109,933 shares; this 1-share purchase would bring that total to 10,109,934 shares.
• Footnote: HKAM filed an amendment to a Schedule 13D on May 7, 2026 disclosing the 10,109,933-share position; the Form 4 references HKAM’s pecuniary interest as disclosed in that Schedule 13D.
• Filing timeliness: Form 4 was filed on 2026-09-18 for the 2026-09-17 transaction (appears to be filed promptly).

Context

• Horizon Kinetics is an institutional 10% owner, not an executive officer; institutional purchases can reflect portfolio adjustments rather than management sentiment.
• The purchase size is minimal (one share), so it is unlikely to materially change ownership or signal a significant change in intent.