[SCHEDULE 13G] AnaptysBio, Inc. SEC Filing

Rhea-AI Filing Summary

Franklin Resources, Inc. and certain affiliates have filed Amendment No. 1 to Schedule 13G disclosing a >5% passive stake in Infinity Natural Resources, Inc. (CUSIP 456941103). As of 30 Jun 2025, the Franklin group reports beneficial ownership of 1,092,884 Class A shares, representing 7.2 % of the outstanding class. Voting and dispositive authority are held solely by subsidiaries, primarily Franklin Advisers, Inc. (1,069,795 shares; 7.0 %), with small additional positions managed by Fiduciary Trust Company International (22,000) and Fiduciary Trust International, LLC (1,089). Charles B. Johnson and Rupert H. Johnson, Jr. report zero direct ownership.

The filing is made under Rule 13d-1(b), indicating the shares were acquired in the ordinary course of investment and not for the purpose of influencing control. No other members are acting as a group, and there are no shared voting or dispositive powers.

• Date of event: 30 Jun 2025
• Filing date: 01 Aug 2025
• Percent of class owned: 7.2 %

Positive

• Franklin Resources now owns 1,092,884 shares (7.2 %) of Infinity Natural Resources, indicating substantial institutional interest.
• Ownership is reported as passive under Schedule 13G, reducing the likelihood of disruptive activism while still expanding the professional shareholder base.

Negative

• None.

Insights

Financial Analyst

TL;DR – Franklin’s 7.2 % passive stake signals institutional confidence and adds liquidity support.

Franklin Resources is a large, long-term asset manager; its emergence as a 7 % holder enhances Infinity Natural Resources’ visibility with buy-side firms. Because the filing is on Schedule 13G, Franklin states it is a passive investor, reducing the likelihood of activism but still indicating positive assessment of the issuer’s risk-reward profile. The concentration of voting/dispositive power in Franklin Advisers suggests the shares are held across diversified managed accounts, limiting forced selling risk. Overall, the disclosure is modestly positive for market perception and could broaden the shareholder base.

Corporate Governance Expert

TL;DR – Passive ownership >5 % triggers reporting but poses no governance pressure.

The Johnson family insiders show 0 % direct ownership, so board influence remains unchanged. Franklin’s passive stance (Rule 13d-1(b)) means no intent to push strategic changes; however, a reputable institutional holder can still enhance market discipline. Because voting is sole, not shared, coordination with other investors is unlikely. Governance impact is therefore low, but the filing confirms that no single shareholder controls the company, keeping governance balance intact.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ANAPTYSBIO, INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

032724106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 032724106

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,841,919.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,845,002.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,845,002.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 032724106

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,525,502.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,525,502.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,525,502.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ANAPTYSBIO, INC
(b)	Address of issuer's principal executive offices: 10770 WATERIDGE CIRCLE, SUITE 210, SAN DIEGO, CA, 92121
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 032724106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 6.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	08/05/2025

Morgan Stanley Capital Services LLC

Signature:	Christopher O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	08/05/2025

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

How many Infinity Natural Resources (INR) shares does Franklin Resources own?

Franklin Resources reports 1,092,884 Class A shares, equal to 7.2 % of the outstanding class.

Which Franklin subsidiary holds most of the INR stake?

Franklin Advisers, Inc. controls 1,069,795 shares (7.0 % of the class) with sole voting and dispositive power.

Is Franklin Resources an activist in Infinity Natural Resources?

No. The filing is on Schedule 13G under Rule 13d-1(b), indicating a passive investment purpose.

Do Charles B. Johnson or Rupert H. Johnson, Jr. personally own INR shares?

Both insiders report 0 shares beneficially owned.

When is the ownership date that required this filing?

The reportable event occurred on 30 June 2025.

What percentage of Infinity Natural Resources’ Class A shares is now institutionally held by Franklin entities?

Combined Franklin entities hold 7.2 % of the class.