Who owns Texas Pacific Land (TPL)?
104 holders named in SEC filings declare between 54.9% and 67.2% of Texas Pacific Land's shares outstanding, as of Sep 15, 2026. The largest are HORIZON KINETICS ASSET MANAGEMENT LLC (14.2%), Vanguard (11.0%) and BlackRock (7.7%); the five largest hold 41.0% together. Another 766 institutions hold small positions worth 5.8%. At least 27.0% of the shares appear in no ownership filing: investors who do not have to report, mostly individuals. From Mar 31, 2026 to Jun 30, 2026, institutions that filed both quarters bought 3.1% and sold 3.1% of the shares, a net sale of 0.01%; 82 opened a position, 332 added, 274 reduced and 70 sold out. Biggest buyers: AQR (+216,912 shares) and State Street (+179,791 shares). Biggest sellers: BlackRock (-656,261) and HORIZON KINETICS ASSET MANAGEMENT LLC (-212,480). Schedule 13D/G filings since Mar 31, 2026: HORIZON KINETICS ASSET MANAGEMENT LLC raised its stake to 14.7% on May 5, 2026. Directors and officers, from their latest Form 4: Peter Doyle (0.22%). Over time, 859 managers declared Texas Pacific Land in their 13F for Q2 2026, against 217 for Q4 2019: together at most 72.7% of the shares outstanding, against 42.1%.
| Holder | Filing | Share of capital | As of | Holding since (13F) |
|---|---|---|---|---|
| HORIZON KINETICS ASSET MANAGEMENT LLC | 13F | 14.2% | Jun 30, 2026 | Q4 2019 or earlier |
| Vanguard | 13F | 11.0% | Jun 30, 2026 | Q4 2019 or earlier |
| BlackRock | 13F | 7.7% | Jun 30, 2026 | Q4 2019 or earlier |
| State Street | 13F | 5.7% | Jun 30, 2026 | Q4 2019 or earlier |
| Geode Capital | 13F | 2.4% | Jun 30, 2026 | Q1 2021 |
| FIRST MANHATTAN CO. LLC. | 13F | 1.5% | Jun 30, 2026 | Q4 2019 or earlier |
| SoftVest Advisors, LLC | 13F | 1.5% | Jun 30, 2026 | Q4 2019 or earlier |
| Morgan Stanley | 13F | 1.4% | Jun 30, 2026 | Q4 2019 or earlier |
| UBS | 13F | 1.3% | Jun 30, 2026 | Q4 2019 or earlier |
| Invesco | 13F | 1.0% | Jun 30, 2026 | Q1 2021 |
| Charles Schwab | 13F | 0.94% | Jun 30, 2026 | Q1 2021 |
| Pacific Heights Asset Management LLC | 13F | 0.86% | Jun 30, 2026 | Q4 2019 or earlier |
| Northern Trust | 13F | 0.78% | Jun 30, 2026 | Q4 2019 or earlier |
| Dimensional | 13F | 0.64% | Jun 30, 2026 | Q1 2021 |
| SCHWARTZ INVESTMENT COUNSEL INC | 13F | 0.60% | Jun 30, 2026 | Q4 2019 or earlier |
| Legal & General | 13F | 0.51% | Jun 30, 2026 | Q4 2019 or earlier |
| BNY | 13F | 0.49% | Jun 30, 2026 | Q4 2019 or earlier |
| Goldman Sachs | 13F | 0.46% | Jun 30, 2026 | Q4 2019 or earlier |
| Tidal Investments LLC | 13F | 0.45% | Jun 30, 2026 | Q1 2026 |
| TD Asset Management Inc | 13F | 0.44% | Jun 30, 2026 | Q3 2022 |
| Amundi | 13F | 0.42% | Jun 30, 2026 | Q1 2022 |
| MAD RIVER INVESTORS | 13F | 0.41% | Jun 30, 2026 | Q4 2019 or earlier |
| AQR | 13F | 0.41% | Jun 30, 2026 | Q1 2024 |
| Epoch Investment Partners, Inc. | 13F | 0.40% | Jun 30, 2026 | Q2 2025 |
| T. Rowe Price | 13F | 0.40% | Jun 30, 2026 | Q1 2020 |
Texas Pacific Land institutional ownership over time
| Quarter | 13F managers | Share of the company (upper bound) | Value declared | Held by stock pickers |
|---|---|---|---|---|
| Q4 2019 | 217 | 42.1% | $2.6B | 94.2% |
| Q4 2020 | 227 | 46.1% | $2.6B | 84.7% |
| Q4 2021 | 374 | 55.7% | $5.4B | 68.0% |
| Q4 2022 | 473 | 60.2% | $10.9B | 61.5% |
| Q4 2023 | 463 | 60.5% | $7.3B | 60.1% |
| Q4 2024 | 675 | 70.1% | $17.8B | 51.0% |
| Q4 2025 | 722 | 71.7% | $14.2B | 50.4% |
| Q2 2026 | 859 | 72.7% | $21.9B | 49.6% |
From SEC Form 13F, every quarter since the end of 2019, read like the current quarter: entities of a house summed, a value contradicting its share count set aside. The share of the company is an upper bound — two managers can declare the same shares — over the shares outstanding at that date.