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Ownership Document
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| Schema Version: X0306 |
| Document Type: 4 |
| Period of Report: 9/23/20 |
| Not Subject to Section 16: 0 |
| Issuer: |
| Issuer CIK: 97517 |
| Issuer Name: TEXAS PACIFIC LAND TRUST |
| Issuer Trading Symbol: TPL |
| Reporting Owner: |
| Reporting Owner ID: |
| | Owner CIK: 1056823 |
| | Owner Name: HORIZON KINETICS ASSET MANAGEMENT LLC |
| Reporting Owner Address: |
| | Owner Street 1: 470 PARK AVENUE SOUTH |
| | Owner Street 2: 4TH FLOOR SOUTH |
| | Owner City: NEW YORK |
| | Owner State: NY |
| | Owner ZIP Code: 10016 |
| | Owner State Description: |
| Reporting Owner Relationship: |
| | Is Director? No |
| | Is Officer? No |
| | Is Ten Percent Owner? Yes |
| | Is Other? No |
| Non-Derivative Table: |
| Non-Derivative Transaction: |
| | Security Title: |
| | | Value: Common Stock |
| | Transaction Date: |
| | | Value: 9/23/20 |
| | Transaction Coding: |
| | | Transaction Form Type: 4 |
| | | Transaction Code: P |
| | | Equity Swap Involved? No |
| | Transaction Timeliness: |
| | | Value: |
| | Transaction Amounts: |
| | | Transaction Shares: |
| Value: 14 |
| | | Transaction Price Per Share: |
| Value: 441.7 |
| | | Transaction Acquired-Disposed Code: |
| Value: A |
| | Post-Transaction Amounts: |
| | | Shares Owned Following Transaction: |
| Value: 276,915 |
| Footnote ID: F1 |
| | Ownership Nature: |
| | | Direct or Indirect Ownership: |
| Value: D |
| Footnotes: |
| Footnote - F1: The amount reported as held following the transaction excludes approximately 1,411,654 shares as of June 12, 2020 for which the Investment Manager does not have a pecuniary interest and also excludes shares purchased by portfolio managers and other employees of the firm for their personal accounts. |
| Owner Signature: |
| Signature Name: /s/Jay Kesslen |
| Signature Date: 9/24/20 |
