S&P500 'Surge Stocks' Continue 1.7 Trillion Won Bet from Major Shareholders

Horizon Kinetics Asset Management, which holds over 10% of Texas Pacific Land Corp (NYSE: TPL), purchased additional common shares of TPL on the open market for three consecutive trading days—February 6, 9 and 10—raising its direct holdings to roughly 3.48 million shares. According to the filing, this stake is now valued at approximately $1.3 billion (about KRW 1.7 trillion). On February 10 alone, the firm acquired several hundred thousand shares at an average price of about $388, executing a major purchase of around $135 million (KRW 180 billion). The disclosure reaffirmed that the transactions primarily reflect the manager’s own economic interests and included an adjustment in share count to reflect the 3-for-1 stock split effected in December 2025.

TPL’s stock has recently rallied, driven by news of an approximately $50 million (KRW 65 billion) partnership with Bolt Data & Energy to develop large-scale data centers on West Texas land and the company’s expansion into AI infrastructure. Since the start of the year, the shares have ranked among the top performers in the S&P 500, and even without any new corporate catalysts, the stock saw a one-day jump of over 7% in February, accompanied by unusual trading volume of about $370 million (KRW 480 billion).

Based in Dallas, Texas, and listed in the S&P 500, Texas Pacific Land is one of the state’s largest private landowners, holding some 880,000 acres across 20 counties in western Texas. Its core business lines include oil and gas royalties from the Permian Basin and the sale of land and water rights. Horizon Kinetics Asset Management, a U.S. asset manager with a value-oriented, long-term investment approach, has been a consistent buyer of TPL shares and remains a key shareholder, maintaining a net buying trend over the past year as confirmed by this recent sizable stake increase.