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[Form 4] Texas Pacific Land Corporation Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

Texas Pacific Land Corporation (TPL) has received a Form 4 from large shareholder Horizon Kinetics Asset Management LLC. On 3 July 2025 the 10% owner purchased 1 share of TPL common stock at $1,075.80. After the immaterial purchase, Horizon Kinetics鈥� direct holding is reported at 1,163,946 shares. No derivative securities were involved and no Rule 10b5-1 plan was flagged. While the filing confirms the firm鈥檚 continuing >10% ownership, the single-share transaction does not meaningfully alter its economic exposure or signal a decisive change in insider sentiment.

Texas Pacific Land Corporation (TPL) ha ricevuto un Modulo 4 da parte del grande azionista Horizon Kinetics Asset Management LLC. Il 3 luglio 2025 il proprietario del 10% ha acquistato 1 azione ordinaria di TPL al prezzo di $1.075,80. Dopo questo acquisto irrilevante, la partecipazione diretta di Horizon Kinetics 猫 segnalata a 1.163.946 azioni. Non sono stati coinvolti titoli derivati n茅 猫 stato segnalato alcun piano ai sensi della Regola 10b5-1. Sebbene la comunicazione confermi il mantenimento di una partecipazione superiore al 10%, la transazione di una singola azione non modifica in modo significativo l'esposizione economica n茅 indica un cambiamento deciso nel sentimento interno.

Texas Pacific Land Corporation (TPL) ha recibido un Formulario 4 por parte del gran accionista Horizon Kinetics Asset Management LLC. El 3 de julio de 2025, el propietario del 10% compr贸 1 acci贸n ordinaria de TPL a $1,075.80. Tras esta compra insignificante, la participaci贸n directa de Horizon Kinetics se reporta en 1,163,946 acciones. No se involucraron valores derivados ni se se帽al贸 ning煤n plan bajo la Regla 10b5-1. Aunque la presentaci贸n confirma la propiedad continua superior al 10%, la transacci贸n de una sola acci贸n no altera significativamente su exposici贸n econ贸mica ni indica un cambio decisivo en el sentimiento interno.

Texas Pacific Land Corporation (TPL)電� 雽�欤检＜鞚� Horizon Kinetics Asset Management LLC搿滊秬韯� Form 4毳� 鞝戩垬頄堨姷雼堧嫟. 2025雲� 7鞗� 3鞚�, 10% 歆�攵� 氤挫湢鞛愱皜 TPL 氤错喌欤� 1欤�毳� $1,075.80鞐� 毵れ垬頄堨姷雼堧嫟. 氙鸽頃� 毵れ垬 鞚错泟, Horizon Kinetics鞚� 歆侅爲 氤挫湢 欤检嫕鞚� 1,163,946欤�搿� 氤搓碃霅橃棃鞀惦媹雼�. 韺岇儩 歃濌秾鞚� 韽暔霅橃 鞎婌晿鞙茧┌, Rule 10b5-1 瓿勴殟霃� 鞁犼碃霅橃 鞎婌晿鞀惦媹雼�. 鞚� 氤搓碃靹滊姅 須岇偓臧� 瓿勳啀頃挫劀 10% 鞚挫儊鞚� 歆�攵勳潉 氤挫湢頃橁碃 鞛堨潓鞚� 頇曥澑頃橃毵�, 雼� 頃� 欤检潣 瓯半灅電� 瓴届牅鞝� 雲胳稖鞐� 鞁れ鞝侅澑 氤�頇旊ゼ 欤缄卑雮� 雮措秬鞛愳潣 鞁Μ 氤�頇旊ゼ 雮橅儉雮挫 鞎婌姷雼堧嫟.

Texas Pacific Land Corporation (TPL) a re莽u un formulaire 4 de la part du grand actionnaire Horizon Kinetics Asset Management LLC. Le 3 juillet 2025, le d茅tenteur de 10 % a achet茅 1 action ordinaire de TPL au prix de 1 075,80 $. Apr猫s cet achat insignifiant, la participation directe d鈥橦orizon Kinetics est d茅clar茅e 脿 1 163 946 actions. Aucun titre d茅riv茅 n鈥檃 茅t茅 impliqu茅 et aucun plan conforme 脿 la r猫gle 10b5-1 n鈥檃 茅t茅 signal茅. Bien que le d茅p么t confirme la d茅tention continue de plus de 10 %, cette transaction d鈥檜ne seule action ne modifie pas significativement son exposition 茅conomique ni ne traduit un changement d茅cisif dans le sentiment des initi茅s.

Texas Pacific Land Corporation (TPL) hat ein Formular 4 von Gro脽aktion盲r Horizon Kinetics Asset Management LLC erhalten. Am 3. Juli 2025 kaufte der 10%-Eigent眉mer 1 Aktie der TPL-Stammaktien zu $1.075,80. Nach diesem unwesentlichen Kauf wird der direkte Bestand von Horizon Kinetics mit 1.163.946 Aktien angegeben. Es waren keine Derivatwerte beteiligt und kein Rule 10b5-1-Plan wurde gemeldet. Obwohl die Meldung den fortbestehenden Besitz von 眉ber 10% best盲tigt, ver盲ndert die Ein-Aktien-Transaktion die wirtschaftliche Beteiligung nicht wesentlich und signalisiert keine entscheidende 脛nderung der Insider-Stimmung.

Positive
  • Continued insider ownership: Horizon Kinetics maintains a large 1,163,946-share stake, underscoring long-term commitment.
Negative
  • Immaterial transaction size: Only one share purchased, offering limited insight into insider conviction or near-term outlook.

Insights

TL;DR: Nominal insider buy; confirms >10% stake, but impact on valuation is negligible.

The purchase of just one share suggests Horizon Kinetics is maintaining filing compliance rather than actively accumulating. Ownership remains sizable at over 1.16 million shares, reinforcing its strategic interest in TPL, yet the dollar value (<$1.1 k) is immaterial versus its existing position. As such, I regard the disclosure as neutral; it neither strengthens nor weakens the investment case.

TL;DR: Procedural filing; indicates ongoing 10% holder status, not a meaningful governance signal.

The Form 4 meets Section 16 obligations, showing Horizon Kinetics still crosses the 10% threshold. No derivatives, no 10b5-1 plan, and no accompanying governance commentary are disclosed. From a compliance perspective, the firm remains transparent, but investors should not infer any material strategic shift from a one-share trade.

Texas Pacific Land Corporation (TPL) ha ricevuto un Modulo 4 da parte del grande azionista Horizon Kinetics Asset Management LLC. Il 3 luglio 2025 il proprietario del 10% ha acquistato 1 azione ordinaria di TPL al prezzo di $1.075,80. Dopo questo acquisto irrilevante, la partecipazione diretta di Horizon Kinetics 猫 segnalata a 1.163.946 azioni. Non sono stati coinvolti titoli derivati n茅 猫 stato segnalato alcun piano ai sensi della Regola 10b5-1. Sebbene la comunicazione confermi il mantenimento di una partecipazione superiore al 10%, la transazione di una singola azione non modifica in modo significativo l'esposizione economica n茅 indica un cambiamento deciso nel sentimento interno.

Texas Pacific Land Corporation (TPL) ha recibido un Formulario 4 por parte del gran accionista Horizon Kinetics Asset Management LLC. El 3 de julio de 2025, el propietario del 10% compr贸 1 acci贸n ordinaria de TPL a $1,075.80. Tras esta compra insignificante, la participaci贸n directa de Horizon Kinetics se reporta en 1,163,946 acciones. No se involucraron valores derivados ni se se帽al贸 ning煤n plan bajo la Regla 10b5-1. Aunque la presentaci贸n confirma la propiedad continua superior al 10%, la transacci贸n de una sola acci贸n no altera significativamente su exposici贸n econ贸mica ni indica un cambio decisivo en el sentimiento interno.

Texas Pacific Land Corporation (TPL)電� 雽�欤检＜鞚� Horizon Kinetics Asset Management LLC搿滊秬韯� Form 4毳� 鞝戩垬頄堨姷雼堧嫟. 2025雲� 7鞗� 3鞚�, 10% 歆�攵� 氤挫湢鞛愱皜 TPL 氤错喌欤� 1欤�毳� $1,075.80鞐� 毵れ垬頄堨姷雼堧嫟. 氙鸽頃� 毵れ垬 鞚错泟, Horizon Kinetics鞚� 歆侅爲 氤挫湢 欤检嫕鞚� 1,163,946欤�搿� 氤搓碃霅橃棃鞀惦媹雼�. 韺岇儩 歃濌秾鞚� 韽暔霅橃 鞎婌晿鞙茧┌, Rule 10b5-1 瓿勴殟霃� 鞁犼碃霅橃 鞎婌晿鞀惦媹雼�. 鞚� 氤搓碃靹滊姅 須岇偓臧� 瓿勳啀頃挫劀 10% 鞚挫儊鞚� 歆�攵勳潉 氤挫湢頃橁碃 鞛堨潓鞚� 頇曥澑頃橃毵�, 雼� 頃� 欤检潣 瓯半灅電� 瓴届牅鞝� 雲胳稖鞐� 鞁れ鞝侅澑 氤�頇旊ゼ 欤缄卑雮� 雮措秬鞛愳潣 鞁Μ 氤�頇旊ゼ 雮橅儉雮挫 鞎婌姷雼堧嫟.

Texas Pacific Land Corporation (TPL) a re莽u un formulaire 4 de la part du grand actionnaire Horizon Kinetics Asset Management LLC. Le 3 juillet 2025, le d茅tenteur de 10 % a achet茅 1 action ordinaire de TPL au prix de 1 075,80 $. Apr猫s cet achat insignifiant, la participation directe d鈥橦orizon Kinetics est d茅clar茅e 脿 1 163 946 actions. Aucun titre d茅riv茅 n鈥檃 茅t茅 impliqu茅 et aucun plan conforme 脿 la r猫gle 10b5-1 n鈥檃 茅t茅 signal茅. Bien que le d茅p么t confirme la d茅tention continue de plus de 10 %, cette transaction d鈥檜ne seule action ne modifie pas significativement son exposition 茅conomique ni ne traduit un changement d茅cisif dans le sentiment des initi茅s.

Texas Pacific Land Corporation (TPL) hat ein Formular 4 von Gro脽aktion盲r Horizon Kinetics Asset Management LLC erhalten. Am 3. Juli 2025 kaufte der 10%-Eigent眉mer 1 Aktie der TPL-Stammaktien zu $1.075,80. Nach diesem unwesentlichen Kauf wird der direkte Bestand von Horizon Kinetics mit 1.163.946 Aktien angegeben. Es waren keine Derivatwerte beteiligt und kein Rule 10b5-1-Plan wurde gemeldet. Obwohl die Meldung den fortbestehenden Besitz von 眉ber 10% best盲tigt, ver盲ndert die Ein-Aktien-Transaktion die wirtschaftliche Beteiligung nicht wesentlich und signalisiert keine entscheidende 脛nderung der Insider-Stimmung.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
HORIZON KINETICS ASSET MANAGEMENT LLC
(Last) (First) (Middle)
470 PARK AVENUE SOUTH
4TH FLOOR SOUTH
(Street)
NEW YORK NY 10016
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Texas Pacific Land Corp [ TPL ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/03/2025 P 1 A $1,075.8 1,163,946(1) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.
/s/ Jay Kesslen, attorney-in-fact 07/07/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source:

FAQ

Why did Horizon Kinetics file a Form 4 for TPL on 7 July 2025?

Under Section 16, the firm had to report its 3 July 2025 purchase of 1 TPL share.

How many Texas Pacific Land shares does Horizon Kinetics now own?

The filing lists 1,163,946 shares held directly after the transaction.

What price was paid in the latest insider transaction?

The single share was bought at $1,075.80.

Was a Rule 10b5-1 trading plan indicated?

No. The checkbox denoting a 10b5-1 transaction was left blank.

Does this insider buy materially affect TPL's share count or valuation?

No. The acquisition of one share is negligible relative to Texas Pacific Land's total shares outstanding.
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TPL Rankings

#551 Ranked by Market Cap
#1954 Ranked by Dividends

TPL Latest News

Jul 10, 2025
Texas Pacific Land Corporation Sets Dates for Second Quarter 2025 Earnings Release and Conference Call
May 7, 2025
Texas Pacific Land Corporation Announces First Quarter Results
Apr 15, 2025
Texas Pacific Land Corporation Sets Dates for First Quarter 2025 Earnings Release and Conference Call
Feb 19, 2025
Texas Pacific Land Corporation Announces Fourth Quarter and Full Year 2024 Results
Feb 4, 2025
Texas Pacific Land Corporation Sets Dates for Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

TPL Latest SEC Filings

Jul 10, 2025
[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Jul 9, 2025
[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Jul 8, 2025
[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Jul 3, 2025
[Form 4] Texas Pacific Land Corporation Insider Trading Activity
Jul 2, 2025
[Form 4] Texas Pacific Land Corporation Insider Trading Activity

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