Horizon Kinetics Asset Management LLC disclosed a purchase of one share of Texas Pacific Land Corp (NYSE: TPL) on January 27, 2026. The transaction price was $339.86, producing a reported transaction value of $339. After this filing, Horizon Kinetics directly holds 3,487,700 shares of Texas Pacific Land, maintaining its status as a ten percent owner of the company.
That regulatory filing coincides with recent corporate disclosures from Texas Pacific Land. In its third-quarter 2025 results, the company posted earnings per share of $5.27, short of the $5.69 analysts had expected. Revenue for the quarter was $203 million, below the $210 million forecast. Despite those misses, the company’s stock registered meaningful gains during premarket trading following the release of the results.
Separately, Texas Pacific Land announced a strategic agreement with Bolt Data & Energy to pursue development of large-scale data center campuses on land it controls in West Texas. As part of the arrangement, Texas Pacific Land will invest $50 million and will receive an equity interest, warrants, and a right of first refusal to supply water to projects affiliated with Bolt.
Investors were also notified that a three-for-one stock split for Texas Pacific Land will take effect on December 22, 2025. In addition, KeyBanc initiated coverage on Texas Pacific Land Trust with an Overweight rating, citing the company’s sizable land and royalty positions in Texas as reasoning for the call.
Context and balance-sheet notes
The Horizon Kinetics one-share purchase is a disclosure item that leaves the fund’s overall ownership unchanged in proportion. The company-level items disclosed by Texas Pacific Land include operating results that missed expectations, a material partnership commitment tied to data center development, and a forthcoming stock split. Independent analysts entering coverage have highlighted the company’s land and royalty holdings as central to their outlook.
What remains limited in these disclosures - details on the timeline, execution milestones, and expected near-term financial impact of the Bolt Data & Energy partnership were not provided in the filings described above. Similarly, while premarket share gains were noted following the earnings release, the filings do not include further detail on market drivers beyond those events.