SCHEDULE 13G: WaterBridge Infrastructure: Key Investors Disclose Major Stakes

Multiple entities and individuals, including Five Point Energy affiliates and David Capobianco, have disclosed significant beneficial ownership in WaterBridge Infrastructure LLC's Class A Shares.

Summary

• WBR Holdings LLC and WaterBridge Resources LLC, along with Five Point Energy GP I LP and GP I LLC, beneficially own 14,475,660 Class A Shares, representing 26.6% of the outstanding class and 11.7% on a fully diluted basis.
• NDB Holdings LLC and WaterBridge NDB LLC, controlled by Five Point Energy GP II LP, GP II LLC, GP III LP, and GP III LLC, beneficially own 41,425,200 Class A Shares, representing 48.9% of the outstanding class and 33.6% on a fully diluted basis.
• Desert Environmental Holdings LLC, controlled by Five Point Energy GP III LP and GP III LLC, beneficially owns 6,193,800 Class A Shares, representing 12.5% of the outstanding class and 5.0% on a fully diluted basis.
• David Capobianco, through his control of the general partners of Five Point Energy funds, is deemed to beneficially own an aggregate of 62,094,660 Class A Shares, representing 60.9% of the outstanding class and 50.3% on a fully diluted basis.
• The beneficial ownership percentages are calculated based on 43,264,850 Class A Shares outstanding as of the Issuer's initial public offering closing on September 18, 2025.
• Fully diluted percentages assume the redemption of all 80,190,150 outstanding limited liability company interests in WBI Operating LLC (OpCo Units) into Class A Shares on a one-to-one basis.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of beneficial ownership, providing factual information without expressing positive or negative sentiment regarding company performance or future prospects.

Future Outlook

NA

Industry Context

This Schedule 13G filing provides transparency into the significant ownership structure of WaterBridge Infrastructure LLC following its initial public offering. Such disclosures are standard for publicly traded companies, informing the market about major stakeholders and potential control persons, which is crucial for understanding corporate governance and influence within the energy infrastructure sector.

Related Party Transactions

• The filing details a complex ownership structure where David Capobianco, as the sole member of the general partners of various Five Point Energy funds, is deemed to beneficially own shares held by WBR Holdings LLC, NDB Holdings LLC, and Desert Environmental Holdings LLC. Each entity and individual disclaims beneficial ownership of such securities, which is a common legal disclaimer in such control structures.

Stakeholder Impact

• Shareholders: Provides clarity on the significant ownership stakes held by various entities and individuals, particularly the substantial control exercised by David Capobianco and the Five Point Energy funds, which could influence strategic decisions and corporate direction.

Key Dates

Keywords

WaterBridge Infrastructure LLC, Class A Shares, Beneficial Ownership, SEC Filing, Schedule 13G, Five Point Energy, David Capobianco, WBI Operating LLC, OpCo Units