Texas Pacific Land Corp (TPL): 10% Owner Reports Minor Share Purchase

On August 28, 2026, Horizon Kinetics Asset Management LLC, a designated ten percent owner of Texas Pacific Land Corp (TPL), filed a Form 4 reporting a transaction that occurred on August 27, 2026.

Transaction Analysis: The filing details the purchase (Code 'P') of a single share of Common Stock at a price of $365.74 per share. The total value of this transaction was just $365.74. Following this acquisition, Horizon Kinetics Asset Management LLC directly holds 3,244,019 shares of the company.

Significance: The transaction is of very low significance due to the minuscule number of shares and low total value. Such a small purchase by a major institutional holder is likely not indicative of a strategic investment shift but may be related to administrative purposes, account maintenance, or a test transaction. The footnote references a much larger beneficial ownership position reported on a Schedule 13D, highlighting that this single-share transaction does not materially alter their substantial stake in the company.