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

Executive Overview

On September 17, 2026, Horizon Kinetics Asset Management LLC, a reported 10% beneficial owner of Texas Pacific Land Corp ($TPL), filed a Form 4 disclosing the open-market purchase of 1 share of Common Stock on September 16, 2026, at an execution price of $352.36.

Transaction Details

• Security: Common Stock
• Transaction Type: Open-market purchase (Code P)
• Shares Acquired: 1 share
• Execution Price: $352.36 per share
• Total Transaction Value: $352.36
• Direct Ownership After Transaction: 3,390,848 shares
• Footnote Context: Horizon Kinetics noted that in its May 7, 2026 Schedule 13D amendment, it reported aggregate beneficial ownership of 10,109,933 shares across its affiliated funds and accounts, with its direct pecuniary interest detailed in this Form 4.

Market Significance & Analysis

The trading significance of this transaction is rated Low. While purchases by large institutional 10% owners typically signal confidence, the acquisition of a single share ($352.36) represents a de minimis change relative to the reporting owner's existing multimillion-share position.