LandBridge Gains 17 % Passive Holder as Morgan Stanley Files Schedule 13G/A

Rhea-AI Filing Summary

Morgan Stanley and subsidiary Morgan Stanley Investment Management Inc. (together, the “Reporting Persons”) filed Amendment No. 2 to Schedule 13G disclosing their aggregate beneficial ownership of 4,005,849 Class A shares of LandBridge Co LLC (CUSIP 514952100) as of 30 June 2025. The position equals 17.2 % of the outstanding class.

The Reporting Persons report shared voting power over 3,867,715 shares and shared dispositive power over 4,005,849 shares; they hold no sole voting or dispositive power. Morgan Stanley is classified as a parent holding company/control person (HC, CO), while MSIM is an investment adviser (IA, CO). Both entities are organized in Delaware and list their principal office at 1585 Broadway, New York, NY.

The certification states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. Signatures were provided by authorized signatories Christopher O’Hara and Deidre A. Downes on 5 Aug 2025.

Positive

• 17.2 % institutional stake signals meaningful interest from a major financial firm, potentially enhancing market sentiment and liquidity.

Negative

• None.

Insights

Securities Analyst

TL;DR: Morgan Stanley now discloses a 17.2 % passive stake in LandBridge; material ownership but no intent to influence control.

The 13G/A reveals that Morgan Stanley and its investment-management arm collectively control roughly one-sixth of LandBridge’s Class A shares. While this is a substantial block that can improve market liquidity and signal institutional confidence, the 13G format and the included certification indicate the stake is passive—there is no activism or control agenda. From a governance perspective, LandBridge gains a prominent institutional holder without immediate control risk. From a trading standpoint, the presence of a large, widely diversified financial institution suggests lower float concentration than if the stake were in a strategic acquirer. Overall impact on valuation or strategy is limited until further action (e.g., 13D filing) occurs.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

LandBridge Co LLC

(Name of Issuer)

Class A Shares

(Title of Class of Securities)

514952100

(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. 514952100

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 3,867,715.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,005,849.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,005,849.00

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)

17.2 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 514952100

1

Names of Reporting Persons

Morgan Stanley Investment Management Inc.

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 3,863,383.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,001,138.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,001,138.00

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)

17.2 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: LandBridge Co LLC
(b)	Address of issuer's principal executive offices: 5555 SAN FELIPE STREET, SUITE 1200, HOUSTON, TX, 77056
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Investment Management Inc.
(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: Class A Shares
(e)	CUSIP No.: 514952100
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: 17.2 %
(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.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
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 Investment Management Inc.

Signature:	Deidre A. Downes
Name/Title:	Authorized Signatory, Morgan Stanley Investment Management Inc.
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 LandBridge (LB) shares does Morgan Stanley own?

The filing reports 4,005,849 Class A shares, representing 17.2 % of the class.

Does Morgan Stanley have sole voting power over LandBridge shares?

No. The filing shows 0 shares with sole voting power; all voting authority is shared on 3,867,715 shares.

What is the nature of Morgan Stanley’s filing (13G vs. 13D)?

It is a Schedule 13G/A, indicating a passive investment with no intent to influence control.

When was the ownership position effective?

The ownership data is as of June 30, 2025.

Who signed the Schedule 13G/A for Morgan Stanley?

Authorized signatories Christopher O’Hara (Morgan Stanley) and Deidre A. Downes (MSIM) signed on Aug 5, 2025.