Horizon Kinetics Asset Management buys $2,305 in RENN Fund shares

Horizon Kinetics Asset Management LLC, a 10% owner and director of Texas Pacific Land Corp, acquired 1 share of TPL common stock on September 15, 2026. This purchase was made at a price of $370.59 per share, resulting in an investment of approximately $370. Following this transaction, Horizon Kinetics Asset Management LLC now holds 3,390,847 shares of Texas Pacific Land Corp. The stock price has decreased by about 24% over the past six months, currently trading at $291.91.

Analysts suggest the stock may be slightly overvalued in relation to its fair value. TPL demonstrates strong financials with a gross profit margin of 94% and a higher cash position than debt. The details of Horizon Kinetics Asset Management LLC's stake were disclosed in their May 7, 2026 Schedule 13D amendment. Recently, Texas Pacific Land Corporation reported strong third-quarter earnings for 2026, beating analyst expectations.

The company reported $2.42 earnings per share on $273.4 million in revenue, surpassing projections of $2.36 and $255 million. This marks the third quarter in a row with record revenue, net income, and free cash flow. Shareholders also approved TPL's redomestication from Delaware to Texas, which will take effect on November 17. The common stock will continue to trade on the New York Stock Exchange under the same symbol TPL, with no action required from existing shareholders.