US Land and Royalty Giant Major Shareholder Acquires Additional Stake Worth 2 Trillion Won

Horizon Kinetics Asset Management LLC, a beneficial owner holding over 10% of Texas Pacific Land Corp (TPL), disclosed in a Form 4 filing that it increased its direct stake in TPL common shares to approximately 3.4 million shares through open-market purchases on April 17, May 5 and May 6. The shares were acquired at prices ranging from about $419 to $433 each, valuing the direct holding at roughly $1.4 billion to $1.5 billion—equivalent to about KRW 2 trillion at an exchange rate of KRW 1,400 per dollar. Including affiliated accounts under an amended Schedule 13D, its total potential holding was reported at around 10 million shares.

Recently, Texas Pacific Land Corp reported its first-quarter 2026 results, showing year-over-year growth in both revenue and net income. The company also signed a land-sale agreement worth approximately $42.5 million with a power-plant developer supporting data-center operations—about KRW 600 billion. On May 5, TPL appointed Peter Doyle to its board of directors, and in a separate 13D/A filing Horizon Kinetics reaffirmed that it remains a major shareholder with a mid-teens stake of roughly 14%. (texaspacific.com)

Texas Pacific Land Corp is one of the largest private landowners in Texas, operating as an energy-infrastructure and royalty company that generates revenue from oil and gas royalties, land leases and water services. New York–based Horizon Kinetics Asset Management has long held TPL as one of its largest core holdings by asset weight, maintaining a concentrated, long-term investment in the company. (en.wikipedia.org)