Horizon Kinetics, 10% owner, buys $2,260 of RENN Fund stock

On August 13, 2026, Horizon Kinetics Asset Management LLC, a significant investor in Texas Pacific Land Corp (TPL), acquired a single share of the company's common stock for $343.02, bringing the firm's total investment in TPL to 3,244,009 shares. TPL's market capitalization stands at $23.94 billion with a P/E ratio of 45.98, suggesting that investors may be paying a premium for the company's earnings.

Despite the acquisition, TPL remains in a financially healthy position. However, the stock is currently considered overvalued according to InvestingPro analysis. The company reported second-quarter 2026 earnings that missed Wall Street's expectations, with earnings per share at $2.23 and revenue of $246.1 million, both falling short of forecasts.

Despite the shortfalls, TPL's revenue and adjusted EBITDA both grew compared to the previous year, with significant increases in oil and gas royalty production and water royalty volumes. The company is also diversifying into data center, power, and water infrastructure, with projects valued at 25 gigawatts in advanced discussions.