Form 4: Horizon Kinetics Buys TPL Share Post-Split

Horizon Kinetics Asset Management LLC reported the acquisition of one share of Texas Pacific Land Corp common stock at $533.81, bringing its direct beneficial ownership to 3,467,930 shares after a December 2025 stock split.

Summary

• Horizon Kinetics Asset Management LLC (HKAM), a 10% owner and director of Texas Pacific Land Corp (TPL), reported a transaction.
• On March 20, 2026, HKAM purchased 1 share of TPL Common Stock at a price of $533.81 per share.
• Following this transaction, HKAM directly beneficially owns 3,467,930 shares of Texas Pacific Land Corp.
• The reported beneficial ownership reflects a three-for-one stock split that was effective on December 22, 2025.
• An amendment to Schedule 13D filed on December 18, 2024, previously noted HKAM's beneficial ownership of 3,578,173 shares, along with Murray Stahl's direct interest in 7,848 shares and indirect interest in approximately 156,083 shares.
• Murray Stahl does not exercise investment discretion with respect to the securities of the Issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a slightly positive signal due to the insider purchase, albeit for a minimal number of shares, by a significant owner post-stock split, indicating continued confidence.

Positives

• Horizon Kinetics Asset Management, a 10% owner and director, purchased additional common stock, which can be interpreted as a signal of continued confidence in Texas Pacific Land Corp.

Industry Context

StockSavvy.ai notes that insider purchases, even for a minimal number of shares, from a significant shareholder like Horizon Kinetics Asset Management, a 10% owner and director, can be interpreted as a positive signal of continued confidence in the company's prospects. This transaction occurs after a stock split, which typically aims to increase liquidity and make shares more accessible.

Related Party Transactions

• Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp, purchased common stock from the issuer.

Stakeholder Impact

• Shareholders may view the purchase by a significant owner as a vote of confidence in the company's future performance.

Key Dates

Recommendation

The purchase of a single share by a 10% owner, Horizon Kinetics Asset Management LLC, is a minor transaction that does not fundamentally alter the investment thesis for Texas Pacific Land Corp. While it indicates continued insider confidence, the minimal volume does not provide a strong enough signal for a 'buy' or 'sell' recommendation, thus a 'hold' is appropriate.

Keywords

Texas Pacific Land Corp, TPL, Horizon Kinetics Asset Management, HKAM, insider transaction, Form 4, stock purchase, beneficial ownership, stock split