Major Shareholder of U.S. Listed Land Company Acquires Additional Shares Worth Trillions

Horizon Kinetics Asset Management, a shareholder owning more than 10% of Texas Pacific Land Corp (TPL), disclosed that it purchased additional common shares on the open market on May 5, May 6, and May 20.

The purchase price ranged from approximately $395 to $430 per share, and following these transactions, the value of its direct holdings remains well above $1 billion—equivalent to several trillion Korean won.

According to an amendment to Schedule 13D, the total beneficial interest held across affiliated accounts amounts to about 10.1 million shares, representing roughly 15% of the company’s outstanding stock—a substantial stake.

On May 6, the company reported first-quarter 2026 results, posting revenue of approximately $236 million and net income of about $140 million. It also announced a land sale and water-supply agreement worth around $42.5 million with a power-plant developer supporting data-center operations.

In addition, the board appointed Peter Doyle, a Horizon Kinetics executive, as a new director on May 5. In April, the company had announced the passing of Murray Stahl, who served as a director and CEO of Horizon Kinetics.

Texas Pacific Land is a publicly traded U.S. company that owns approximately 880,000 acres of land and mineral rights in the Permian Basin of Texas. It is a major land and resource management firm generating most of its revenue from oil and gas royalties, land-use fees, and water-supply services.

Horizon Kinetics is a U.S. asset management firm known as a key shareholder that has positioned TPL as one of its largest portfolio holdings and maintained its investment over the long term.