Horizon Kinetics Asset Management disclosed a nominal purchase of Texas Pacific Land Corp (TPL) stock, acquiring one ordinary share at $381.51 on August 21, 2026. The transaction, documented in a U.S. Securities and Exchange Commission Form 4 filed on August 24, follows a previously disclosed amendment to the firm’s Schedule 13D on May 7.
The stakeholder’s beneficial ownership in TPL now totals 3,244,015 shares, up from the 10,109,933 shares reported in the May filing. Horizon Kinetics holds a 10% stake in the company and maintains a directorship position.
Texas Pacific Land, which operates oil and gas royalty interests and water infrastructure, reported a market capitalization of $25.8 billion. The stock has gained 27% over the past year and 34% year-to-date, according to the filing.
For the second quarter of 2026, TPL posted revenue of $246.1 million, below the estimated $255.5 million, though the figure represents a quarterly record. Earnings per share came in at $2.23, short of the $2.28 consensus. Adjusted EBITDA reached $216 million, yielding an 88% margin.
Production metrics showed a 20% year-over-year increase in oil and gas royalty output, averaging 39,700 barrels of oil equivalent per day. Water royalties hit a record 4.9 million barrels per day. The company is also advancing discussions on projects totaling 25 gigawatts of capacity across data centers, energy, and water infrastructure.
