U.S. Energy Land Company Continues Major Shareholder's ₩2 Trillion Stake Acquisition

Texas Pacific Land Corp (NYSE: TPL) disclosed that its major shareholder, Horizon Kinetics Asset Management, added to its stake via open-market purchases on April 14, April 17 and May 5. After these transactions, Horizon Kinetics directly holds approximately 3.43 million shares—worth about $1.4–1.5 billion (roughly KRW 2 trillion)—and, in an amended Schedule 13D filing, reported a broader voting stake of around 10 million shares.

In its May 6 first-quarter earnings release, the company announced the sale of land to a power-plant developer supporting data-center operations and the signing of a water-supply agreement. It also declared a quarterly dividend of $0.60 per share and the appointment of Peter Doyle, co-CEO of Horizon Kinetics, to its board of directors.

Texas Pacific Land Corporation is one of the largest land-and-royalty firms in the U.S., owning roughly 880,000 acres in Texas. Its core businesses include royalties and surface-use fees from Permian Basin oil and gas development, plus water-services revenue. The company converted from a trust to a corporate structure in 2021 and is listed on the New York Stock Exchange, operating a portfolio linked to energy development and data-center infrastructure.