Shareholders Exceeding 10%, U.S. Permian Royalty Shares Expand to Trillions

Horizon Kinetics Asset Management, which holds more than 10% of Texas Pacific Land Corp (NYSE: TPL), modestly increased its direct stake to approximately 3.39 million shares by making consecutive open-market purchases of common stock on June 3, 15 and 29. According to the filing, the value of these direct holdings—based on the purchase prices—ranges from about $1.3 billion to $1.4 billion (approximately KRW 1.7 trillion to KRW 1.9 trillion). As of the May 7 filing, the group’s total beneficial ownership of some 10.1 million shares was valued at roughly $4.1 billion (around KRW 5.7 trillion). This disclosure underscores Horizon Kinetics’ ongoing active management of its large strategic position.

In its first-quarter 2026 results released in early May, Texas Pacific Land reported record quarterly performance, posting revenue of about $237 million and net income of $142.9 million, while maintaining its quarterly dividend at $0.60 per share. During the same period, the company sold a portion of its West Texas acreage for approximately $42.5 million (around KRW 58 billion) and entered into power and water supply agreements with a power-plant developer to support data-center operations, marking the formal start of its expansion into data-center and power-infrastructure projects. (Source: texaspacific.com)

Texas Pacific Land is a major U.S. land-and-royalty company that owns roughly 880,000 acres in Texas. Its primary revenue streams include oil and gas royalties from Permian Basin developments, water sales and land-use fees. Within the company’s largest shareholder group, Horizon Kinetics, executive leadership changes have also taken place: in April, long-time director and group head Murray Stahl passed away, and in May, co-CEO Peter Doyle was appointed to the Texas Pacific Land board. (Source: texaspacific.com)