Major Shareholder of U.S. Energy Land Company Acquires Billions in Shares

Horizon Kinetics Asset Management, a US asset manager, disclosed on March 20, April 2 and April 14 that it had made additional open-market purchases of Texas Pacific Land Corp’s common shares. Following these transactions, the firm’s direct holdings remain at approximately 3.4 million shares, representing an equity stake valued at about $1.4–1.5 billion (roughly KRW 2 trillion) based on the most recent reported valuation. The related amended Schedule 13D specifies total beneficial ownership of around 10 million shares, adjusted for the 3-for-1 stock split effective December 22, 2025.

Texas Pacific Land reported record revenues, net income and free cash flow for both the fourth quarter and full year 2025, and announced a 12.5% increase in its regular dividend to $0.60 per share per quarter, effective with the March 2026 payment. The company had previously implemented a 3-for-1 split of its common stock on December 22, 2025, increasing its shares outstanding, with split-adjusted trading commencing on December 23.

Texas Pacific Land is an S&P 500–listed real estate and energy infrastructure company that owns about 880,000 acres in the western Permian Basin of Texas. Its core businesses include royalties from oil and gas production, water infrastructure services and land-lease revenues. Horizon Kinetics, one of its largest shareholder groups, is a US asset manager focused on long-term value investing and has accumulated a mid-teens percentage stake, positioning it as a key shareholder with influence over the company’s governance and strategic direction.