HORIZON KINETICS ASSET MANAGEMENT LLC - 27 Jun 2025 Form 4 Insider Report for Texas Pacific Land Corp (TPL)

Role: 10%+ Owner
Signature: /s/ Jay Kesslen, attorney-in-fact
Issuer symbol: TPL
Transactions as of: 27 Jun 2025
Net transactions value: +$1,069
Form type: 4
Filing time: 30 Jun 2025, 13:35:55 UTC
Previous filing: 24 Feb 2025
Next filing: 01 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
HORIZON KINETICS ASSET MANAGEMENT LLC	10%+ Owner	470 PARK AVENUE SOUTH, 4TH FLOOR SOUTH, NEW YORK	/s/ Jay Kesslen, attorney-in-fact	30 Jun 2025	0001056823

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TPL	Common Stock	Purchase	$1,069	+1	+0%	$1069.00	1,166,252	27 Jun 2025	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.
F2	Mr. Stahl's most recent 10b5-1 plan was adopted on November 21, 2024, began trading on February 24, 2025, and ended trading on June 26, 2025. As such, partnerships and other accounts totaling 528,487 shares in which Mr. Stahl has a controlling interest and that were reported as separate line items are now included in the total shares. All accounts are managed by HKAM, in which Mr. Stahl serves as Chairman, Chief Executive Officer, and Chief Investment Manager but does not participate in investment decisions with respect to the securities of the Issuer.

Content

On December 18, 2024, Horizon Kinetics Asset Management LLC (HKAM) filed an amendment to its Schedule 13D, in which it noted beneficial ownership of 3,578,173 shares and Murray Stahl's direct interest in 7,848 shares and his indirect interest in approximately 156,083 shares. The extent of HKAM's pecuniary interest in the shares beneficially owned is disclosed herein. Mr. Stahl does not exercise investment discretion with respect to the securities of the Issuer.

Mr. Stahl's most recent 10b5-1 plan was adopted on November 21, 2024, began trading on February 24, 2025, and ended trading on June 26, 2025. As such, partnerships and other accounts totaling 528,487 shares in which Mr. Stahl has a controlling interest and that were reported as separate line items are now included in the total shares. All accounts are managed by HKAM, in which Mr. Stahl serves as Chairman, Chief Executive Officer, and Chief Investment Manager but does not participate in investment decisions with respect to the securities of the Issuer.