AI Special Purpose SPAC Acquires $1.8 Trillion Stake in U.S. Energy Royalty Stocks

Horizon Kinetics Asset Management LLC, a major U.S. shareholder, disclosed that it increased its direct holdings of Texas Pacific Land Corp. (“TPL”) common stock to approximately 3.48 million shares through successive open-market purchases on February 6, 9 and 10. On February 10 alone, it acquired about 380,000 shares at roughly $388 per share—a $135 million investment (approximately KRW 180 billion). At current market prices, the total value of its stake stands at around $1.3 billion (about KRW 1.8 trillion). In its filing, Horizon Kinetics reiterated the three-for-one stock split it effected on December 22, 2025, and reaffirmed the details of its prior Schedule 13D report—originally encompassing both direct and indirect holdings attributed to Murray Stahl—underscoring that the firm itself now holds the economic interest.

In December 2025, TPL entered into a strategic partnership with Bolt Data & Energy—co-founded by former Google CEO Eric Schmidt—to develop a large-scale data-center campus and related infrastructure on its West Texas acreage, committing $50 million to the venture. Fueled by optimism around an AI-driven infrastructure shift, TPL’s share price is reported to have risen by more than 40 percent year-to-date through early February 2026.

Headquartered in Dallas, Texas, Texas Pacific Land Corp. is a publicly traded land and royalty company that owns roughly 880,000 acres in the West Texas Permian Basin. The company derives the bulk of its revenues from oil and gas royalties and water-services operations. Horizon Kinetics, which holds just over 10 percent of TPL’s common stock, is recognized for its long-standing engagement on the company’s governance and strategic direction.