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

What Happened
Horizon Kinetics Asset Management LLC, identified as a 10% beneficial owner of Texas Pacific Land Corp (TPL), made an open-market purchase of 1 share on September 25, 2026 at $339.72 per share (total ≈ $340). This was a purchase (code P), a small-dollar acquisition that can be viewed as a minor bullish signal but is not material by itself.

Key Details

• Transaction date and price: 2026-09-25 — Open market purchase of 1 share at $339.72 (total ≈ $340).
• Transaction code: P (Purchase).
• Shares owned after transaction: Horizon Kinetics reported beneficial ownership of 10,109,933 shares in a Schedule 13D amendment filed May 7, 2026; this purchase increases that count by 1 to 10,109,934 (per filings).
• Footnote: The Schedule 13D amendment (May 7, 2026) discloses Horizon Kinetics’ beneficial ownership and the extent of its pecuniary interest.
• Filing: Form 4 filed with the SEC on 2026-09-29 reporting the 2026-09-25 transaction.

Context
This transaction was made by an institutional 10% holder, not a company executive. Institutional purchases of a single share are typically administrative or rounding transactions and are not a strong signal on their own. Retail investors should note the purchase but weigh it against the holder’s larger disclosed stake and other market factors.