TPL has a cross-role insider cluster running. Here’s the pattern and the data.

Texas Pacific Land (TPL) has an insider pattern I don’t see highlighted often: one director and one 10%+ owner have logged around 60 open-market purchases over the last 90 days. That’s a sustained, cross-role accumulation rather than a one-off CEO buy.

Academic work on insider clusters (e.g., Cohen, Malloy, Pomorski) tends to find that clusters where multiple roles are buying together are more informative than single-actor trades. The problem is that most retail tools either collapse everything into a simple Buy/Sell column or show a raw list of trades without any role-aware aggregation.

To get a clearer view, I built a page that:

• Aggregates Form 4s into a 90-day rollup

• Breaks out officers, directors, and 10%+ holders separately

• Shows the actual transactions with codes and dollar values

Here’s the TPL view:

[https://edgarkit.com/company/tpl/insiders](https://edgarkit.com/company/tpl/insiders)

There’s no paywall or signup to see it. From a value/intrinsic perspective, I’m more interested in how people here would weigh this kind of cross-role cluster relative to TPL’s current valuation and capital allocation. How much weight would you put on this pattern?