Vault-13

WATERBRIDGE INFRASTRUCTURE L WBI

CL A SHS REPSTG · Common Stock · CUSIP 940923105

155 institutional holders +50 vs Q4 2025
55,699,05255.7m shares reported held*
$1.5bnreported value*
62 new 46 added 21 reduced 13 sold out net bought ≈ $103.5m (+3.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $26.79. Options: 2 managers hold calls ($1.0m notional), 7 hold puts ($6.7m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 25: 116Q4 25: 105Q1 26: 155155Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q3 2025116
Q4 2025105
Q1 2026155

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 25: 72 bought or addedQ4 25: 55 cut or sold outQ4 25Q1 26: 108 bought or addedQ1 26: 34 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q4 20257255
Q1 202610834

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6m$8mQ2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $0Q3 25 puts: $0Q3 25P/C —Q4 25 calls: $1.3mQ4 25 puts: $22.0kQ4 25P/C 0.02Q1 26 calls: $1.0mQ1 26 puts: $6.7mQ1 26P/C 6.55
Numbers
QuarterCallsPutsP/C
Q2 2025$0$0—
Q3 2025$0$0—
Q4 2025$1.3m$22.0k0.02
Q1 2026$1.0m$6.7m6.55

Biggest buyers

T. Rowe Price Investment Management, Inc. New +2,153,601+2.2m
CITADEL ADVISORS LLC Added +866,416+866.4k
FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. New +641,861+641.9k
LOOMIS SAYLES & CO L P New +600,602+600.6k
MARSHALL WACE, LLP Added +518,142+518.1k
HORIZON KINETICS ASSET MANAGEMENT LLC Added +504,627+504.6k
Tensile Capital Management LP Added +455,768+455.8k
Ranger Investment Management, L.P. Added +345,554+345.6k
Zimmer Partners, LP New +320,000+320.0k
TWO SIGMA INVESTMENTS, LP New +280,669+280.7k

Biggest sellers

STEADFAST CAPITAL MANAGEMENT LP Sold out -1,053,289-1.1m
MILLENNIUM MANAGEMENT LLC Reduced -924,756-924.8k
Merewether Investment Management, LP Sold out -870,400-870.4k
HAMILTON LANE ADVISORS LLC Reduced -739,686-739.7k
Yaupon Capital Management LP Sold out -497,046-497.0k
MORGAN STANLEY Reduced -484,107-484.1k
Cinctive Capital Management LP Reduced -448,381-448.4k
HITE Hedge Asset Management LLC Sold out -284,689-284.7k
Longaeva Partners L.P. Reduced -282,615-282.6k
VAN ECK ASSOCIATES CORP Sold out -244,160-244.2k

Biggest calls

IMC-Chicago, LLC New $610.8k22.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $404.5k15.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $3.1m116.6k shares
CITADEL ADVISORS LLC New $1.4m53.3k shares
IMC-Chicago, LLC New $779.6k29.1k shares
SIMPLEX TRADING, LLC New $659.0k24.6k shares
JANE STREET GROUP, LLC New $648.3k24.2k shares
GROUP ONE TRADING LLC Reduced $8.0k300 shares
WOLVERINE ASSET MANAGEMENT LLC Unchanged $8.0k300 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
WBR Holdings LLC 13G · exempt (held before listing) -8.8 pts · filed 2026-06-26 52.1% -8.8 pts 53.7m≈ $1.8bn 2026-06-26
Devon WB Holdco L.L.C. 13G · exempt (held before listing) -6.7 pts · filed 2026-08-13 22.4% -6.7 pts 16.0m≈ $548.4m 2026-08-13
HORIZON KINETICS ASSET MANAGEMENT LLC 13G · institution +1.2 pts · filed 2026-04-29 17.0% +1.2 pts 7.3m≈ $251.6m 2026-04-29
T. Rowe Price Investment Management, Inc. 13G · institution new · filed 2026-07-08 11.4% new 5.4m≈ $184.2m 2026-07-08
ALPS ADVISORS INC 13G · institution +2.0 pts · filed 2026-10-07 10.0% +2.0 pts 12.3m≈ $421.5m 2026-10-07
FMR LLC 13G · institution new · filed 2025-11-05 8.5% new 3.7m≈ $126.6m 2025-11-05
GIC Private Ltd 13G · exempt (held before listing) new · filed 2025-11-06 7.9% new 3.4m≈ $116.5m 2025-11-06

Fell to 5% or below in the last year: Elda River Infrastructure WB LLC (0.0%, 2026-05-11)

Insider purchases and sales in Q1 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 0 buyingQ3 24: 0 sellingQ3 24Q4 24: 0 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 2 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 4 buyingQ1 26: 0 sellingQ1 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q2 20240—0——
Q3 20240—0——
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——
Q3 20252$7.5m0——
Q4 20250—0——
Q1 20264$263.8k0——
DateInsiderTradeSharesPrice ValueTheir holding
2026-01-06 Reitz Michael Howard JR Officer · Class A shares Bought 4,865 $20.49 $99.7k4.9k shares +5%
2026-01-06 McNeely Scott Lloyd Officer · Class A shares Bought 1,278 $19.56 $25.0k1.3k shares +2%
2026-01-05 Long Jason Thomas Chief Executive Officer, director · Class A shares Bought 5,000 $19.84 $99.2k5.0k shares +4%
2026-01-05 Bolling Harrison Fenner Officer · Class A shares Bought 2,000 $19.98 $40.0k2.0k shares +3%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Devon Energy Corp/DE 100.00% of their portfolio Houston, TX 17,757,22517.8m $475.7m $475.7m 100.00% First filing
2 HORIZON KINETICS ASSET MANAGEMENT LLC 2.13% of their portfolio NEW YORK, NY 7,342,1477.3m $196.7m $196.7m 2.13% Added +504.6k +504,627
3 FMR LLC 0.01% of their portfolio BOSTON, MA 3,963,7744.0m $106.2m $106.2m 0.01% Reduced -75.0k -74,986
4 T. Rowe Price Investment Management, Inc. 0.04% of their portfolio BALTIMORE, MD 2,153,6012.2m $57.7m $57.7m 0.04% New
5 SCHWARTZ INVESTMENT COUNSEL INC 1.53% of their portfolio PLYMOUTH, MI 1,603,0291.6m $42.9m $42.9m 1.53% Added +218.0k +218,000
6 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 1,179,5251.2m $31.6m $31.6m 0.01% Reduced -83.7k -83,729
7 EMORY UNIVERSITY 10.02% of their portfolio ATLANTA, GA 1,000,0001.0m $26.8m $26.8m 10.02% Unchanged
8 Tensile Capital Management LP 3.78% of their portfolio LARKSPUR, CA 984,574984.6k $26.4m $26.4m 3.78% Added +455.8k +455,768
9 Ranger Investment Management, L.P. 1.79% of their portfolio DALLAS, TX 924,570924.6k $24.8m $24.8m 1.79% Added +345.6k +345,554
10 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 909,651909.7k $24.4m $24.4m 0.02% Added +866.4k +866,416
11 FIRST MANHATTAN CO. LLC. 0.06% of their portfolio NEW YORK, NY 803,720803.7k $21.5m $21.5m 0.06% Unchanged
12 WESTWOOD HOLDINGS GROUP INC 0.15% of their portfolio DALLAS, TX 743,162743.2k $19.9m $19.9m 0.15% Added +132.5k +132,507
13 Hill City Capital, LP 0.67% of their portfolio BOSTON, MA 700,000700.0k $18.8m $18.8m 0.67% Unchanged
14 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 672,990673.0k $18.0m $18.0m 0.02% Added +518.1k +518,142
15 FIDEURAM - INTESA SANPAOLO PRIVATE BANKING S.P.A. 0.60% of their portfolio TURIN, L6 641,861641.9k $17.2m $17.2m 0.60% New
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 641,560641.6k $17.2m $17.2m 0.00% Reduced -484.1k -484,107
17 FEDERATED HERMES, INC. 0.03% of their portfolio PITTSBURGH, PA 633,000633.0k $17.0m $17.0m 0.03% Unchanged
18 Hood River Capital Management LLC 0.17% of their portfolio PALM BEACH GARDENS, FL 620,574620.6k $16.6m $16.6m 0.17% Added +12.2k +12,183
19 LOOMIS SAYLES & CO L P 0.02% of their portfolio BOSTON, MA 600,602600.6k $16.1m $16.1m 0.02% New
20 Cinctive Capital Management LP 1.04% of their portfolio New York, NY 588,908588.9k $15.8m $15.8m 1.04% Reduced -448.4k -448,381
21 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 573,508573.5k $15.4m $15.4m 0.01% Reduced -924.8k -924,756
22 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 464,900464.9k $12.5m $12.5m 0.02% Added +263.7k +263,700
23 REAVES W H & CO INC 0.20% of their portfolio JERSEY CITY, NJ 450,000450.0k $12.1m $12.1m 0.20% Unchanged
24 Walleye Capital LLC 0.06% of their portfolio NEW YORK, NY 365,380365.4k $9.8m $9.8m 0.06% Added +262.2k +262,183
25 UBS Group AG 0.00% of their portfolio ZURICH, V8 327,661327.7k $8.8m $8.8m 0.00% Added +90.7k +90,702
26 JENNISON ASSOCIATES LLC 0.01% of their portfolio NEW YORK, NY 323,923323.9k $8.7m $8.7m 0.01% Added +17.2k +17,246
27 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 323,061323.1k $8.7m $8.7m 0.01% Added +263.1k +263,125
28 Zimmer Partners, LP 0.21% of their portfolio NEW YORK, NY 320,000320.0k $8.6m $8.6m 0.21% New
29 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 315,910315.9k $8.5m $8.5m 0.00% Reduced -126.6k -126,568
30 Ghisallo Capital Management LLC 0.22% of their portfolio BOSTON, MA 300,000300.0k $8.0m $8.0m 0.22% Unchanged
31 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 280,669280.7k $7.5m $7.5m 0.01% New
32 MAD RIVER INVESTORS 2.62% of their portfolio BOSTON, MA 270,900270.9k $7.3m $7.3m 2.62% Added +13.9k +13,900
33 HRT FINANCIAL LP 0.03% of their portfolio NEW YORK, NY 263,573263.6k $7.1m $7.1m 0.03% Added +92.4k +92,378
34 HAMILTON LANE ADVISORS LLC 4.98% of their portfolio CONSHOHOCKEN, PA 260,314260.3k $7.0m $7.0m 4.98% Reduced -739.7k -739,686
35 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 250,730250.7k $6.7m $6.7m 0.01% Added +101.9k +101,866
36 SEVEN GRAND MANAGERS, LLC 0.45% of their portfolio BRONXVILLE, NY 250,000250.0k $6.7m $6.7m 0.45% Unchanged
37 Moors & Cabot, Inc. 0.27% of their portfolio BOSTON, MA 234,082234.1k $6.3m $6.3m 0.27% Added +130.9k +130,919
38 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 231,460231.5k $6.2m $6.2m 0.01% Added +104.2k +104,163
39 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 218,400218.4k $5.9m $5.9m 0.00% Added +56.2k +56,228
40 Jump Financial, LLC 0.08% of their portfolio Chicago, IL 212,328212.3k $5.7m $5.7m 0.08% Added +165.9k +165,928
41 CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 0.27% of their portfolio DALLAS, TX 202,500202.5k $5.4m $5.4m 0.27% New
42 EagleClaw Capital Managment, LLC 0.75% of their portfolio BOSTON, MA 200,200200.2k $5.4m $5.4m 0.75% Added +80.4k +80,375
43 Aventail Capital Group, LP 0.24% of their portfolio NEW YORK, NY 184,230184.2k $4.9m $4.9m 0.24% Added +60.7k +60,703
44 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 174,832174.8k $4.7m $4.7m 0.01% Reduced -217.7k -217,677
45 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 172,043172.0k $4.6m $4.6m 0.00% Added +20.0k +20,047
46 TOCQUEVILLE ASSET MANAGEMENT L.P. 0.07% of their portfolio New York, NY 169,565169.6k $4.5m $4.5m 0.07% Reduced -38.0k -38,020
47 Burkehill Global Management, LP 0.20% of their portfolio NEW YORK, NY 150,000150.0k $4.0m $4.0m 0.20% Unchanged
48 KING LUTHER CAPITAL MANAGEMENT CORP 0.02% of their portfolio FORT WORTH, TX 143,380143.4k $3.8m $3.8m 0.02% Reduced -66.7k -66,736
49 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 137,373137.4k $3.7m $3.7m 0.00% Added +10.9k +10,899
50 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 131,289131.3k $3.5m $3.5m 0.01% Added +6.1k +6,089
51 Militia Capital Management LLC 0.26% of their portfolio AUSTIN, TX 128,400128.4k $3.4m $3.4m 0.26% First filing
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 127,978128.0k $3.4m $3.4m 0.00% Reduced -9.4k -9,372
53 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 125,398125.4k $3.4m $3.4m 0.00% New
54 TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio STAMFORD, CT 117,291117.3k $3.1m $3.1m 0.02% New
55 CAZ INVESTMENTS LP 3.63% of their portfolio HOUSTON, TX 112,500112.5k $3.0m $3.0m 3.63% Unchanged
56 NEEDHAM INVESTMENT MANAGEMENT LLC 0.15% of their portfolio NEW YORK, NY 110,000110.0k $2.9m $2.9m 0.15% Unchanged
57 LMR Partners LLP 0.03% of their portfolio LONDON, X0 104,400104.4k $2.8m $2.8m 0.03% Unchanged
58 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 100,411100.4k $2.7m $2.7m 0.00% Added +51.9k +51,908
59 Concurrent Investment Advisors, LLC 0.03% of their portfolio Tampa, FL 99,22699.2k $2.7m $2.7m 0.03% Added +87.6k +87,576
60 Aquatic Capital Management LLC 0.08% of their portfolio CHICAGO, IL 98,71098.7k $2.6m $2.6m 0.08% New
61 ING GROEP NV 0.02% of their portfolio AMSTERDAM, P7 94,00094.0k $2.5m $2.5m 0.02% Unchanged
62 Trexquant Investment LP 0.02% of their portfolio STAMFORD, CT 92,18992.2k $2.5m $2.5m 0.02% New
63 Quantbot Technologies LP 0.10% of their portfolio NEW YORK, NY 90,06690.1k $2.4m $2.4m 0.10% Added +59.4k +59,369
64 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 89,30089.3k $2.4m $2.4m 0.00% New
65 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio JUPITER, FL 89,23389.2k $2.4m $2.4m 0.01% New
66 PECAUT & CO. 0.76% of their portfolio SIOUX CITY, IA 87,50087.5k $2.3m $2.3m 0.76% Added +21.0k +21,000
67 BlackRock, Inc. 0.00% of their portfolio New York, NY 84,29084.3k $2.3m $2.3m 0.00% Reduced -38.6k -38,566
68 Massar Capital Management, LP 0.45% of their portfolio STAMFORD, CT 84,22484.2k $2.3m $2.3m 0.45% New
69 PROMETHIUM ADVISORS,LLC 0.99% of their portfolio BETHESDA, MD 71,09771.1k $1.9m $1.9m 0.99% Added +6.9k +6,927
70 Swiss National Bank 0.00% of their portfolio ZURICH, V8 68,50068.5k $1.8m $1.8m 0.00% New
71 GSA CAPITAL PARTNERS LLP 0.11% of their portfolio LONDON, X0 64,77464.8k $1.7m $1.7m 0.11% New
72 Steward Partners Investment Advisory, LLC 0.01% of their portfolio STAMFORD, CT 61,78661.8k $1.7m $1.7m 0.01% Added +51.6k +51,582
73 Weiss Asset Management LP 0.03% of their portfolio BOSTON, MA 60,00060.0k $1.6m $1.6m 0.03% Added +45.0k +45,000
74 TD Asset Management Inc 0.00% of their portfolio Toronto, A6 57,31257.3k $1.5m $1.5m 0.00% New
75 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 49,03849.0k $1.3m $1.3m 0.00% New
76 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 41,88441.9k $1.1m $1.1m 0.00% New
77 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 41,26341.3k $1.1m $1.1m 0.01% Added +19.1k +19,147
78 OCCUDO QUANTITATIVE STRATEGIES LP 0.06% of their portfolio FORT LAUDERDALE, FL 38,45838.5k $1.2m $1.2m 0.06% Reduced -27.6k -27,577
79 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 38,32338.3k $1.0m $1.0m 0.00% Added +20.5k +20,483
80 Brevan Howard Capital Management LP 0.01% of their portfolio ST. HELIER, Y9 35,48735.5k $950.7k $950.7k 0.01% New
81 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 34,72634.7k $930.3k $930.3k 0.00% Added +11.4k +11,448
82 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 32,93732.9k $882.4k $882.4k 0.00% New
83 Lido Advisors, LLC 0.00% of their portfolio Los Angeles, CA 30,19730.2k $809.0k $809.0k 0.00% Unchanged
84 Benin Management CORP 0.17% of their portfolio Redding, CT 28,63028.6k $767.0k $767.0k 0.17% Added +10.2k +10,200
85 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 25,93825.9k $694.9k $694.9k 0.01% Reduced -71.8k -71,793
86 Legal & General Group Plc 0.00% of their portfolio London, X0 24,86724.9k $666.2k $666.2k 0.00% New
87 Adalta Capital Management LLC 0.32% of their portfolio NEW YORK, NY 24,62524.6k $659.7k $659.7k 0.32% New
88 Pekin Hardy Strauss, Inc. 0.07% of their portfolio CHICAGO, IL 24,35024.4k $652.3k $652.3k 0.07% Added +10.8k +10,850
89 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 22,90722.9k $613.7k $613.7k 0.01% Reduced -44.0k -43,995
90 VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio London, EC4N 8AF, X0 22,47222.5k $602.0k $602.0k 0.00% First filing
91 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 21,89021.9k $586.4k $586.4k 0.00% First filing
92 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 20,20020.2k $540.9k $540.9k 0.00% New
93 Patriot Financial Group Insurance Agency, LLC 0.03% of their portfolio Westborough, MA 19,85019.9k $531.8k $531.8k 0.03% New
94 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 19,07619.1k $511.0k $511.0k 0.00% Reduced -44.0k -44,007
95 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 18,60418.6k $498.4k $498.4k 0.01% Added +3.4k +3,404
96 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 17,51417.5k $469.2k $469.2k 0.01% Added +4.7k +4,668
97 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 17,04517.0k $457.0k $457.0k 0.00% New
98 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 16,84716.8k $451.3k $451.3k 0.00% New
99 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 16,70916.7k $447.6k $447.6k 0.00% New
100 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,58316.6k $444.3k $444.3k 0.00% Reduced -3.2k -3,248