Horizon Kinetics Purchases 1 Share of Texas Pacific Land Corp ($TPL)

Executive Summary

On September 16, 2026, Horizon Kinetics Asset Management LLC, a 10% beneficial owner of Texas Pacific Land Corp ($TPL), reported an open-market purchase of 1 share of Common Stock on September 15, 2026, at an execution price of $370.59 per share.

Transaction Breakdown

• Security: Common Stock
• Transaction Type: Purchase (Code: P)
• Shares Acquired: 1
• Price Per Share: $370.59
• Total Consideration: $370.59
• Ownership Type: Direct
• Post-Transaction Direct Ownership: 3,390,847 shares

Footnote & Contextual Information

• Footnote [F1] references Horizon Kinetics' Schedule 13D filing from May 7, 2026, in which it reported aggregate beneficial ownership of 10,109,933 shares across its entities/clients. The shares reported on this Form 4 represent its direct pecuniary interest.

Significance Assessment

• Significance Level: Low
• Rationale: The transaction involves a nominal volume of 1 share valued at $370.59, representing negligible change relative to the reporting owner's existing multimillion-share stake.