Form 4: Horizon Kinetics Updates TPL Stake Post-Stock Split

Horizon Kinetics Asset Management LLC reported a minor acquisition of Texas Pacific Land Corp common stock, updating its beneficial ownership after a stock split.

Summary

• Horizon Kinetics Asset Management LLC (HKAM), a 10% owner of Texas Pacific Land Corp (TPL), acquired 1 share of TPL common stock.
• The transaction occurred on February 26, 2026, at a price of $507.39 per share.
• Following this acquisition, HKAM directly beneficially owns 3,479,381 shares of TPL common stock.
• The reported beneficial ownership reflects a three-for-one stock split that became effective on December 22, 2025.
• An amendment to HKAM's Schedule 13D, filed on December 18, 2024, previously noted beneficial ownership of 3,578,173 shares.
• Murray Stahl holds 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: 5

Explanation: StockSavvy.ai views this filing as neutral, primarily serving to update beneficial ownership details following a stock split rather than signaling a significant change in investment strategy or company performance.

Positives

• Horizon Kinetics Asset Management LLC, a significant shareholder, continues to hold a substantial stake in Texas Pacific Land Corp, with a minor increase in direct beneficial ownership.

Negatives

• The reported acquisition of only 1 share is a de minimis transaction and does not signal a significant new investment or change in strategy by the reporting person.

Future Outlook

NA

Management Comments

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

Industry Context

StockSavvy.ai notes that Form 4 filings provide transparency into insider and significant shareholder transactions. This specific filing, detailing a minimal purchase by a 10% owner, is primarily an update on beneficial ownership post-stock split rather than a strong market signal regarding broader industry trends or TPL's operational performance.

Stakeholder Impact

• Shareholders: Provides updated transparency on a significant holder's ownership, adjusted for a stock split, ensuring accurate public records.

Key Dates

Keywords

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