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), made an open-market purchase of 1 share on September 22, 2026, at $361.36 per share, for a total of $361.36. This is a purchase (a bullish signal in general), but the size is immaterial relative to its reported holdings.

Key Details

• Transaction type/code: Open market purchase (P).
• Transaction date and filing: Trade on 2026-09-22; Form 4 filed 2026-09-23 (timely filing).
• Price and value: 1 share at $361.36; total = $361.36.
• Shares owned after transaction: Schedule 13D reported 10,109,933 shares on May 7, 2026; after this acquisition the reported beneficial ownership would be 10,109,934 shares.
• Footnote: F1 notes HKAM’s Schedule 13D (filed 2026-05-07) reporting beneficial ownership and discloses the extent of HKAM’s pecuniary interest.
• No indication of option exercise, gift, tax withholding, or a 10b5-1 plan in this filing.

Context
This filing is from an institutional 10% owner, not a company executive. While purchases can be informative, this single-share buy is negligible relative to Horizon Kinetics’ multi-million‑share position and should be viewed accordingly.