WaterBridge Infrastructure
WBI on NYSE. Market value $3.6bn.
Should I look at this?
We have not checked this company yet
This is not advice.
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 163 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $28m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Horizon KineticsMurray Stahl | $262m | 3.0% | Added |
| Tensile Capital ManagementTensile Capital team | $37m | 5.1% | Added |
| First Manhattan Co.First Manhattan partners | $28m | <0.1% |
Largest holders overall
- Devon Energy$548mCut
- Alps Advisors$338mNew
- Horizon Kinetics$262mAdded
- T. Rowe Price Investment Management$184mAdded
- FMR$133mCut
- Hood River Capital Management$67mAdded
- UBS Group AG$66mAdded
- Schwartz Investment Counsel$58mAdded
- Capital Research Global Investors$51mNew
- Tensile Capital Management$37mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
7 investors own more than 5%.
- David CapobiancoPassive investorat least 52.1%−8.8 pts(filed with 8 related holders)Since 22 June 2026
- Devon WB Holdco L.L.C.Passive investorat least 22.4%−6.7 pts(filed with 3 related holders)Since 30 June 2026
- Horizon KineticsPassive investorat least 17.0%+1.2 pts(filed with 1 related holder)Since 31 March 2026
- T. Rowe Price Investment Management, Inc.Passive investor11.4%Since 30 June 2026
- FMR LLCPassive investorat least 8.5%(filed with 1 related holder)Since 30 September 2025
- ALPS Advisors, Inc.Passive investorat least 8.0%(filed with 1 related holder)Since 30 June 2026
- GIC Private LtdPassive investorat least 7.9%(filed with 2 related holders)Since 18 September 2025
- Elda River Infrastructure WB LLCPassive investorSold down below 5%Since 31 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
David Capobianco Passive investor | at least 52.1%−8.8 pts (filed with 8 related holders) | 22 June 2026 | |
Devon WB Holdco L.L.C. Passive investor | at least 22.4%−6.7 pts (filed with 3 related holders) | 30 June 2026 | |
Horizon Kinetics Passive investor | at least 17.0%+1.2 pts (filed with 1 related holder) | 31 March 2026 | |
T. Rowe Price Investment Management, Inc. Passive investor | 11.4% | 30 June 2026 | |
FMR LLC Passive investor | at least 8.5% (filed with 1 related holder) | 30 September 2025 | |
ALPS Advisors, Inc. Passive investor | at least 8.0% (filed with 1 related holder) | 30 June 2026 | |
GIC Private Ltd Passive investor | at least 7.9% (filed with 2 related holders) | 18 September 2025 | |
Elda River Infrastructure WB LLC Passive investor | Sold down below 5% | 31 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $263,842 of shares on the open market. 1 sold $177m.
- Capobianco David NDirectorSold
- Date
- 22 June 2026
- Shares
- 5,894,826
- Price
- $30.05
- Value
- $177m
- McNeely Scott LloydSee RemarksBought
- Date
- 6 January 2026
- Shares
- 1,278
- Price
- $19.56
- Value
- $24,998
- Reitz Michael Howard JRSee RemarksBought
- Date
- 6 January 2026
- Shares
- 4,865
- Price
- $20.49
- Value
- $99,684
- Long Jason ThomasChief Executive Officer, DirectorBought
- Date
- 5 January 2026
- Shares
- 5,000
- Price
- $19.84
- Value
- $99,200
- Bolling Harrison FennerSee RemarksBought
- Date
- 5 January 2026
- Shares
- 2,000
- Price
- $19.98
- Value
- $39,960
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 22 June 2026 | Capobianco David N Director | Sold | 5,894,826 | $30.05 | $177m |
| 6 January 2026 | McNeely Scott Lloyd See Remarks | Bought | 1,278 | $19.56 | $24,998 |
| 6 January 2026 | Reitz Michael Howard JR See Remarks | Bought | 4,865 | $20.49 | $99,684 |
| 5 January 2026 | Long Jason Thomas Chief Executive Officer, Director | Bought | 5,000 | $19.84 | $99,200 |
| 5 January 2026 | Bolling Harrison Fenner See Remarks | Bought | 2,000 | $19.98 | $39,960 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.