U.S. Large Royalty Stocks Expand Holdings to 1.9 Trillion Won through Major Shareholder Purchases

Horizon Kinetics Asset Management LLC, a U.S. asset management firm, disclosed in SEC filings that it purchased additional common shares of Texas Pacific Land Corp (NYSE: TPL) on May 20, May 28 and June 3 through open-market transactions. According to the filings, the firm’s direct holdings rose to approximately 3.39 million shares, representing an equity value of about $1.39 billion (roughly KRW 1.9 trillion) based on recent trading prices.

In a separate Schedule 13D amendment, Horizon Kinetics confirmed that it beneficially owns around 10.1 million common shares of Texas Pacific Land—about 14.7% of the company’s total outstanding stock. Further filings show that, on June 5, 8 and 9, the firm made small incremental purchases—typically one share at a time—bringing its direct stake to roughly 3.393 million shares and signaling continued modest accumulation.

In its early-May filing for the first quarter of fiscal 2026, Texas Pacific Land reported revenues of approximately $240 million and net income of about $140 million. The company declared a quarterly dividend of $0.60 per share (around KRW 800).

Texas Pacific Land Corp is a land-and-royalties company owning roughly 880,000 acres in western Texas’s Permian Basin, generating primary revenues from oil and gas production royalties and water services. Listed on the New York Stock Exchange, the company has a market capitalization of about $26 billion (around KRW 36 trillion). Horizon Kinetics is disclosed as a prominent long-term shareholder with approximately 10.1 million shares.