SEC Filings

Vanguard Portfolio Management Reports 5.11% Passive Stake In Texas Pacific Land

The Vanguard unit holds 3,530,140 shares of the Permian landowner, and the company reports third-quarter results on November 4.

Vanguard Portfolio Management holds 3,530,140 shares of Texas Pacific Land, or 5.11% of the common stock, according to a Schedule 13G filed Friday. The form is a passive ownership disclosure, and Vanguard certified the shares were not bought to influence control of the company.

A passive position, by Vanguard's certification

The filing lists September 30, 2026 as the event date and classifies Vanguard Portfolio Management as an investment adviser. Of the 3,530,140 shares, it has sole voting power over 15,072 and shared voting power over none.

Vanguard certified that the shares were acquired and are held in the ordinary course of business, not to change or influence control of the issuer. The count covers affiliates including Vanguard Fiduciary Trust Company and Vanguard Global Advisers, and includes shares held by Vanguard funds and clients. The filing says no one other person's interest in the securities exceeds 5%.

A Permian landowner, not a driller

Texas Pacific Land, based in Dallas, owns about 882,000 surface acres in Texas, mostly in the Permian Basin, plus royalty interests equal to about 224,000 net royalty acres, according to its 10-K for 2025. It does not produce oil and gas. Royalties, easement and lease fees and land sales made up 62% of 2025 revenue, and water sales to operators made up 38%.

It is also pushing beyond oil and gas. The company agreed to supply land and brackish water for Chevron's Project Kilby power project in Reeves County, Texas.

Shares near $328 before November 4 earnings

Texas Pacific Land shares traded at $327.84 in Friday trading, down 0.04% from the prior close of $327.96, for a market value of $22.6 billion. The stock has fallen 15.1% over three months.

The company is scheduled to report third-quarter results on November 4 after the close. Zacks expects $2.35 per share on revenue of $264 million.

Texas Pacific Land reports third-quarter results after the market close on November 4.