Texas Landowner Accumulates 1.5 Trillion Won Stake... Horizon Kinetics Continues Buying

Horizon Kinetics Asset Management LLC made three open-market purchases of Texas Pacific Land Corp (NYSE: TPL) common shares on April 2, 14 and 17, lifting its direct holdings to approximately 3.43 million shares. According to its filings, the average purchase price ranged from about $414 to $443 per share, valuing the direct stake at roughly $1.4–$1.5 billion (₩1.9–2.0 trillion). In its amended Schedule 13D, Horizon Kinetics reports an economic interest of around 10 million shares in total, reaffirming its status as the largest shareholder group in TPL.

Since then, Horizon Kinetics has continued modest buys on April 23 and 24, nudging its direct holdings above 3.43 million shares. Meanwhile, TPL’s stock experienced heightened volatility after the early-April announcement of the death of Murray Stahl—founding partner of Horizon Kinetics and a TPL board member—which triggered a brief, double-digit drop in the share price.

Texas Pacific Land Corp is a leading land and royalties company that owns nearly 870,000 acres and associated mineral and oil-and-gas royalty rights in the Permian Basin. It generates substantial cash flow from oil and gas production royalties and water services. Since converting from a trust structure to a corporation in 2021, the company has strengthened its board-centered governance and is gaining attention for its long-term growth potential amid rising energy and infrastructure demand.