Form 4: Horizon Kinetics Adds to Texas Pacific Land Holdings

Horizon Kinetics Asset Management LLC, a 10% owner and director, reported the acquisition of one share of Texas Pacific Land Corp common stock.

Summary

• Horizon Kinetics Asset Management LLC (HKAM), a 10% owner and director of Texas Pacific Land Corp (TPL), acquired 1 share of TPL common stock.
• The transaction occurred on March 17, 2026, at a price of $525.47 per share.
• Following this transaction, HKAM directly beneficially owns 3,467,927 shares of TPL common stock.
• This beneficial ownership figure reflects a three-for-one stock split that became effective on December 22, 2025.
• Previously, on December 18, 2024, HKAM's Schedule 13D amendment noted beneficial ownership of 3,578,173 shares.
• Murray Stahl, associated with HKAM, has a direct interest in 7,848 shares and an indirect interest in approximately 156,083 shares, but does not exercise investment discretion over the Issuer's securities.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal. While the quantity of shares purchased is minimal, the act of a 10% owner and director buying shares generally indicates confidence in the company's prospects.

Positives

• A 10% owner and director, Horizon Kinetics Asset Management LLC, purchased shares, indicating confidence in Texas Pacific Land Corp's future prospects.
• Insider buying, even of a small quantity, can signal a belief that the stock is undervalued or that positive developments are anticipated.

Future Outlook

No specific forward-looking statements or guidance were provided in this filing beyond the transaction details and historical ownership context.

Management Comments

• Murray Stahl does not exercise investment discretion with respect to the securities of the Issuer.

Industry Context

StockSavvy.ai notes that insider buying, particularly from a significant institutional investor like Horizon Kinetics, often provides a positive signal to the market, suggesting that those closest to the company see value. This contrasts with broader market trends where insider selling might indicate concerns.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive signal of confidence from a significant investor and director, potentially influencing their investment decisions.

Key Dates

Recommendation

The act of an insider purchasing shares, especially a 10% owner and director, is a strong signal of confidence in the company's future performance, even if the quantity is small. This suggests that the insider believes the stock is a good investment at the current price.

Keywords

Texas Pacific Land Corp, TPL, Horizon Kinetics Asset Management, Insider Trading, Form 4, Beneficial Ownership, Stock Split, Equity Acquisition