US 'Energy Land' Large Cap, Major Shareholder Institution Increases Stake by 1 Trillion Won

Horizon Kinetics Asset Management LLC, the largest shareholder of Texas Pacific Land Corp (NYSE: TPL), disclosed in a U.S. Securities and Exchange Commission Form 4 filing that it purchased TPL common shares in the open market from May 28 to June 15. After these trades, its direct holdings totaled approximately 3.39 million shares, valued at $1.3–$1.4 billion (roughly KRW 1.7–1.9 trillion) based on the reported share price. The amended Schedule 13D cited in the same filing shows that, across various accounts and vehicles, its aggregate stake in TPL amounts to about 10 million shares, or roughly 15%, implying a total holding value near $4 billion (approximately KRW 5 trillion), underscoring a significant long-term investment.

Recently, Texas Pacific Land strengthened its governance ties with its major shareholder by appointing Peter Doyle, co-CEO of Horizon Kinetics and a principal of the controlling shareholder group, to its board. This appointment follows the passing of Murray Stahl, a fellow Horizon Kinetics affiliate and former TPL director, and continues the company’s trend of board realignment in coordination with its largest shareholder.

Texas Pacific Land is one of the largest private landowners in Texas, managing about 880,000 acres in the western Permian Basin. The land and resource management company primarily earns revenue from oil and gas royalties and drilling and produced-water services. By leveraging its land, mineral rights, and water rights, the company operates a unique dual-income model that combines royalty income from oilfield development with water services.