TPL · NYSE · CIK 0001811074
Texas Pacific Land Corporation
Texas Pacific Land Corporation holds 1 disclosed position, 1 of them carrying a sourced value.
Texas Pacific Land Corporation - Profile
- Sector
- EnergyGICS
- Industry
- Oil Royalty TradersSIC 6792
- Listed on
- NYSE
- Employees
- 114stated 2025
- Incorporated in
- Delaware
- Financial year ends
- 31 December
Source
Address, industry classification, listing and incorporation come from Texas Pacific Land Corporation's own SEC filer record, so the industry is the SEC's dry classification rather than a marketing label. The website was checked for this site against the company's own pages. The headcount is the figure the sources below state for 2025. The description was written for this site in August 2026 from Texas Pacific Land Corporation Form 10-K for the year ended December 31, 2025 and Texas Pacific Land Corporation (Wikipedia), not taken from any single article.
Share price
TPL
Description
Texas Pacific Land Corporation owns roughly 882,000 surface acres in West Texas, concentrated in the Permian Basin, together with oil and gas royalty interests amounting to about 224,000 net royalty acres. It does not drill or produce hydrocarbons: income comes from royalties on wells other operators develop on its acreage, from water sold to those operators, from produced water disposal royalties, and from easements, commercial leases and land sales. Total revenue in 2025 was $798.2 million: $411.7 million of oil and gas royalties, $169.7 million of water sales, $124.2 million of produced water royalties, $91.8 million of easements and other surface related income and $0.8 million of land sales, on a payroll of 114 full time staff. The land came from the Texas and Pacific Railway and was held by Texas Pacific Land Trust under an 1888 declaration of trust until the trust reorganised into a Delaware corporation on 11 January 2021.
Equity stakes Texas Pacific Land Corporation holds in other companies.
modelled, reported or pending
Select a row or a slice for its provenance: the filing it came from, when it was measured, and the arithmetic behind it if it was modelled.
The full register, from 13F filings
The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 850 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.
850 managers reported a position, together holding 50.2m shares, or 72.8% of the company. The 40 largest are listed. Percentages are of the 69.0m shares outstanding at 30 Apr 2026, the count in force when this quarter was measured rather than the count today.
Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.
What a reader needs to know to read these numbers
- Trust-to-corporation conversion: Texas Pacific Land Trust converted to Texas Pacific Land Corporation in January 2021 (hence the recent CIK 0001811074). Every figure in this file is post-conversion, sourced from the corporation's own SEC filings (10-K, 10-Q, 13F, proxy/10-K Item 12 table); no pre-2021 trust sub-share-certificate figures are mixed in.
- Stock split: confirmed FROM THE FY2025 10-K (filed 2026-02-18), NOT taken on trust. TPL effected a three-for-one forward stock split on December 22, 2025 (record date Dec 12, 2025; trading split-adjusted from Dec 23, 2025). This is the ONLY split found; SEC XBRL dei:EntityCommonStockSharesOutstanding shows shares outstanding flat at approximately 22.97-22.99 million from Q3 2024 through Q3 2025, then jumping to approximately 68.94 million at the Feb 2026 10-K cover date and 68.97 million at the Aug 2026 10-Q cover date, a clean 3x consistent with the Dec 2025 split and no other split. NOTE: the task brief's premise of a 'March 2024' split was checked against the filings and NOT found; no split occurred in March 2024 and the only forward split on record is the December 22, 2025 three-for-one. Every row in this file (company.shares_outstanding and every register row's shares) is on the SAME post-split (current) basis; any pre-split reference figure encountered (e.g. the 10-K's own footnote restating Horizon Kinetics' 2024 Schedule 13D shares 'after giving effect to' the split) is noted as such in that row's method_note.
- shares_outstanding = 68,974,683, sourced from SEC XBRL dei:EntityCommonStockSharesOutstanding, value as of 2026-07-31, reported on the cover of the 10-Q for the quarter ended 2026-06-30 (filed 2026-08-05, the newest filing on EDGAR for this CIK, newer than the Feb 2026 10-K). Cross-checked against stockanalysis.com (68.97 million, matches) and against implied price-per-share consistency across nine independently filed Q2 2026 13Fs, all of which imply approximately $437.7/share on the same post-split share count.
- Land, mineral and royalty interests are property, not equity holdings, and are excluded from `holdings`. TPL's core business (per the FY2025 10-K, Item 1 Business) is owning approximately 880,000 surface acres and roughly 4.2 million gross royalty acres of oil-and-gas mineral and royalty interests in the Permian Basin, plus its Water Services and Operations segment (produced-water gathering/disposal/recycling and sourced-water sales, including easements and water royalties). None of this is an equity interest in another entity; it was excluded on the same ground this database has applied to Evergy's plant interests, Weyerhaeuser's timberland, DTE's Belle River/Ludington stakes and Expand Energy's working interests.
- Holdings side: searched the FY2025 10-K (filed 2026-02-18) and the Q2 2026 10-Q (filed 2026-08-05) for 'equity method', 'equity securities', 'joint venture', 'unconsolidated', 'non-marketable', 'minority interest', 'variable interest entity' and 'investments in'. The 10-Q returned nothing beyond boilerplate (Credit Facility security-interest language, cash-equivalents policy). The 10-K surfaced exactly one substantive holding: the December 2025 $50.0 million minority investment in Bolt Data & Energy, Inc. (private), TPL's only equity interest in another entity found in either filing. No Exhibit 21 subsidiaries list was located for TPL in this filing (a Delaware corporation of TPL's structure files relatively few operating subsidiaries and none is itself an equity stake TPL holds a fraction of).
- Horizon Kinetics: historically TPL's largest outside holder, and closely associated with the company through director Murray Stahl (CEO/Chairman/CIO of Horizon Kinetics Holding Corporation, HKAM's parent). Fresh Q2 2026 13F puts HKAM at 9,802,899 shares (14.21%), the single largest register position, ahead of Vanguard. Stahl's own beneficial ownership (10-K Item 12 table, 5.1% as filed) overlaps with HKAM's holding; see the Murray Stahl row's method_note for how the overlap was handled to avoid double-counting. holder_type for HKAM is set to 'strategic' rather than 'index' or 'active' given this board-level relationship and Horizon's parallel co-investment alongside TPL in Bolt (Horizon put in approximately $47.5 million to the same Bolt round, reviewed by TPL's Audit Committee as a related-person transaction).
- Checked and found NOT holding (recorded here, not as null rows): Capital Group (all three registrants checked for Q2 2026: Capital World Investors CIK 0001422849, Capital International Investors CIK 0001562230, Capital Research Global Investors CIK 0001422848; none has a CUSIP 88262P102 row). T. Rowe Price Investment Management, Inc. (CIK 0001897612, the second T. Rowe registrant) also checked for Q2 2026 and holds nothing. FMR LLC (Fidelity) does hold a small position (23,514 shares, approximately 0.03%, per its fresh Q2 2026 13F) but was left out of the top-12 register as immaterial relative to the rows included.
- Self-gate, computed on the FINAL file exactly as the register chart computes it (raw shares summed, aggregate rows reduced by their rolls_up_into members, everything else at full value): 12 rows, total 35,973,233 shares, 52.15% of 68,974,683 shares outstanding. This sits at the high end of the 25-45% typical band but below the 55% suspect threshold, consistent with TPL's unusually concentrated register (one strategic holder at 14.2%, four large index managers totalling roughly 27%, and an insider group at 5.2%).
Looked for, not found
Recorded rather than filled in. Each of these is a place where a number could have been invented and was not.
- Bolt Data & Energy, Inc.: no share count or ownership percentage disclosed anywhere in TPL's FY2025 10-K or Q2 2026 10-Q, so holdings[0].shares and pct_of_target are null. The $50m TPL contribution to Bolt's $150m raise is not a safe basis for modelling an ownership percentage because Bolt's pre-existing capitalization and post-money valuation are not disclosed.
- No 2026 Schedule 13D/13D-A or 13G/13G-A for TPL from Horizon Kinetics Asset Management post-dating the Dec 22 2025 split was located and read directly (the 10-K's Item 12 table cites Amendment No. 8 to the Schedule 13D filed Dec 18, 2024, restated by the company for the split); the register instead uses HKAM's own fresh Q2 2026 13F-HR as the more current, independently filed figure, which is 9,802,899 shares versus the proxy-table's restated 10,734,519, a real disagreement of about 932,000 shares likely reflecting portfolio activity between Dec 2024 and Jun 2026 rather than an error.
- No DEF 14A newer than 2025-09-26 (pre-split, and superseded for beneficial-ownership purposes by the 10-K's own Feb 9 2026 Item 12 table) was used for register figures; if TPL files a 2026 annual-meeting proxy after this research date it may carry an updated 5%-holder table.