WaterBridge Infrastructure LLC reporting persons filed an amendment to a joint Schedule 13G/A disclosing beneficial ownership of Class A Shares. The cover data states 51,480,071 Class A Shares outstanding as of the filing and reports combined holdings by affiliated entities and David Capobianco. Key reported holdings include 53,743,584 shares (52.1%) attributed to Mr. Capobianco-related entities on the cover pages and entity-level holdings of 40,698,738 shares (44.2%), 35,747,578 shares (41.0%), 13,044,846 shares (20.9%), and 4,951,160 shares (8.8%). The filing notes alternate percent calculations “assuming the redemption of all 71,976,138 OpCo Units into Class A Shares”, which produces lower percent-of-class figures for certain Reporting Persons. The cover lists the CUSIP 940923105 and identifies the Reporting Persons and their Delaware organization status.
Positive
None.
Negative
None.
Insights
Affiliated entities and a single individual report concentrated voting/disposing power around the same holdings.
The filing shows aggregated beneficial ownership across affiliated entities and Mr. Capobianco, with cover counts such as 53,743,584 shares and subsidiary-level counts like 35,747,578 and 40,698,738. These counts are presented under Rule 13d-3 calculations and include shares underlying OpCo Units.
Dependencies include the OpCo Unit redemption mechanics and the OpCo LLC Agreement's cash-or-share election; the filing explicitly states the alternate percentages “assuming the redemption of all 71,976,138 OpCo Units into Class A Shares”. Subsequent filings would clarify any changes in outstanding share counts or redemptions.
The amendment clarifies beneficial ownership attribution and disclaims direct beneficial ownership by certain reporting entities.
The statement attaches attribution language: managing-member and general-partner relationships may cause entities and Mr. Capobianco to be “deemed” beneficial owners, but each such entity and individual expressly disclaims beneficial ownership of the underlying securities in the filing.
Material qualifiers preserved in the filing include the Rule 13d-3 basis for percent calculations and the OpCo Unit redemption assumption; these qualifiers determine which percentage applies and should be noted when interpreting voting or disposition power.
Key Figures
Class A Shares outstanding:51,480,071 sharesAdditional Class A issued on redemption:4,464,012 sharesDavid Capobianco-related beneficial ownership:53,743,584 shares+5 more
8 metrics
Class A Shares outstanding51,480,071 sharesas stated in Item 4 of this filing
Additional Class A issued on redemption4,464,012 sharesissued upon redemption of Class B Shares/OpCo Units as disclosed in Forms 4
David Capobianco-related beneficial ownership53,743,584 sharescover-page total and Row 9 for Mr. Capobianco-related reporting persons
Five Point Energy GP III group holding40,698,738 sharescover-page holding listed with <b>44.2%</b> percent of class
NDB Holdings LLC holding35,747,578 sharescover-page holding listed with <b>41.0%</b> percent of class
WBR Holdings LLC holding13,044,846 sharescover-page holding listed with <b>20.9%</b> percent of class
Desert Environmental Holdings LLC holding4,951,160 sharescover-page holding listed with <b>8.8%</b> percent of class
OpCo Units referenced71,976,138 unitsused for alternate percent calculations when redeemed into Class A Shares
Key Terms
OpCo Units, Rule 13d-3, Beneficial ownership, Class B Shares
4 terms
OpCo Unitsfinancial
"Each OpCo Unit may be redeemed at the request of the holder for either Class A Shares"
Rule 13d-3regulatory
"percentage of all outstanding Class A shares as calculated pursuant to Rule 13d-3"
Rule 13d-3 defines who is treated as the beneficial owner of a company’s shares for U.S. securities disclosure rules — essentially anyone who has the power to vote or direct how shares are voted, or the power to buy or sell them, even if they don’t hold the certificates. For investors this matters because crossing certain ownership thresholds triggers public filing and disclosure obligations and signals potential control or influence, much like having the keys to a car implies you can drive it even if it’s registered to someone else.
Beneficial ownershipregulatory
"The ownership information presented herein represents beneficial ownership of Class A Shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Class B Sharesfinancial
"4,464,012 Class A Shares issued upon redemption of an equal number of Class B shares"
Class B shares are one type of a company’s stock that carries a specific set of rights — often different voting power or dividend rules compared with other classes. For investors, that affects influence over company decisions and potential income: owning Class B might mean fewer or more votes per share or different claim on profits, like having a different seat at a decision table or a different slice of the payout pie.
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What Class A share count does WBI report in this Schedule 13G/A amendment?
The amendment reports 51,480,071 Class A Shares outstanding. This figure reflects prior 10-Q disclosure plus 4,464,012 Class A Shares issued upon specified redemptions disclosed in Forms 4.
How many shares does David Capobianco-related group report beneficially owning?
53,743,584 Class A Shares are reported on the cover pages as beneficially owned by Mr. Capobianco-related reporting persons, shown as 52.1% under the Rule 13d-3 calculation disclosed in the filing.
What is the filing's disclosure about OpCo Units and alternate percentages?
The filing states 71,976,138 OpCo Units may be redeemed into Class A Shares and provides alternate ownership percentages “assuming the redemption of all 71,976,138 OpCo Units into Class A Shares,” producing lower percent figures for some Reporting Persons.
Which entities are named as Reporting Persons on the amendment?
The filing lists affiliated entities including WBR Holdings LLC, WaterBridge Resources LLC, NDB Holdings LLC, Desert Environmental Holdings LLC, Five Point Energy GP I/II/III (and related LLCs), and individual David Capobianco.
Does the filing state who holds voting or dispositive power over the shares?
Yes; the cover pages report voting and dispositive power breakdowns (e.g., shared voting/dispositive power figures such as 53,743,584 for Mr. Capobianco-related entries) and Item 4 cross-references those cover-page rows for powers to vote and dispose.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
WaterBridge Infrastructure LLC
(Name of Issuer)
Class A Shares
(Title of Class of Securities)
940923105
(CUSIP Number)
06/22/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
WBR Holdings 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
13,044,846.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,044,846.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,044,846.00
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)
20.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A shares representing limited liability company interests ("Class A Shares") as calculated pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Assuming the redemption of all 71,976,138 outstanding limited liability company interests in WBI Operating LLC ("OpCo Units") into Class A Shares, the Reporting Person's beneficial ownership percentage is 10.6%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
WaterBridge Resources 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
13,044,846.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,044,846.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,044,846.00
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)
20.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 10.6%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
NDB Holdings 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
35,747,578.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
35,747,578.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
35,747,578.00
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)
41.0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 29.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
WaterBridge NDB 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
35,747,578.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
35,747,578.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
35,747,578.00
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)
41.0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 29.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Desert Environmental Holdings 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
4,951,160.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,951,160.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,951,160.00
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)
8.8 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 4.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP I LP
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
13,044,846.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,044,846.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,044,846.00
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)
20.9 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 10.6%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP I 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
13,044,846.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
13,044,846.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,044,846.00
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)
20.9 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 10.6%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP II LP
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
35,747,578.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
35,747,578.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
35,747,578.00
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)
41.0 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 29.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP II 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
35,747,578.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
35,747,578.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
35,747,578.00
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)
41.0 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 29.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP III LP
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
40,698,738.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
40,698,738.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
40,698,738.00
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)
44.2 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 33.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
Five Point Energy GP III 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
40,698,738.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
40,698,738.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
40,698,738.00
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)
44.2 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 33.0%.
SCHEDULE 13G
CUSIP Number(s):
940923105
1
Names of Reporting Persons
David Capobianco
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
53,743,584.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
53,743,584.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
53,743,584.00
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)
52.1 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The percent of class set forth in Row 11 reflects the percentage of all outstanding Class A Shares as calculated pursuant to Rule 13d-3 under the Exchange Act. Assuming the redemption of all 71,976,138 outstanding OpCo Units into Class A Shares, the Reporting Person's beneficial ownership percentage is 43.5%.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
WaterBridge Infrastructure LLC
(b)
Address of issuer's principal executive offices:
5555 San Felipe Street, Suite 1200, Houston, Texas 77056
Item 2.
(a)
Name of person filing:
Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:
WBR Holdings LLC
WaterBridge Resources LLC
NDB Holdings LLC
WaterBridge NDB LLC
Desert Environmental Holdings LLC
Five Point Energy GP I LP
Five Point Energy GP I LLC
Five Point Energy GP II LP
Five Point Energy GP II LLC
Five Point Energy GP III LP
Five Point Energy GP III LLC
David Capobianco
(b)
Address or principal business office or, if none, residence:
The principal business office address for each of the Reporting Persons is c/o WaterBridge Infrastructure LLC, 5555 San Felipe Street, Suite 1200, Houston, Texas 77056.
(c)
Citizenship:
Mr. Capobianco is a citizen of the United States. Each of the remaining Reporting Persons is organized under the laws of the State of Delaware.
(d)
Title of class of securities:
Class A Shares
(e)
CUSIP No.:
940923105
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:
The information contained on the cover pages to this Schedule 13G is incorporated by reference into this Item 4(a).
The ownership information presented herein represents beneficial ownership of Class A Shares as of the date of this filing, based upon 51,480,071 Class A Shares outstanding, which represents 47,016,059 Class A Shares outstanding as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on May 7, 2026 plus 4,464,012 Class A Shares issued upon redemption of an equal number of Class B shares representing limited liability company interests ("Class B Shares") and limited liability company interests in WBI Operating LLC ("OpCo" and such units, "OpCo Units") as disclosed in the Reporting Persons' Statements of Changes in Beneficial Ownership on Forms 4 filed with the SEC on June 22, 2026.
The beneficial ownership presented herein includes: (i) 1,980,921 Class A Shares and 11,063,925 Class A Shares underlying an equal number of OpCo Units held of record by WBR Holdings LLC ("WBR Holdings"), (ii) 35,747,578 Class A Shares underlying an equal number of OpCo Units held of record by NDB Holdings LLC ("NDB Holdings") and (iii) 4,951,160 Class A Shares underlying an equal number of OpCo Units held of record by Desert Environmental Holdings LLC ("Desert Holdings"). Each OpCo Unit may be redeemed at the request of the holder for either Class A Shares on a one-to-one basis or for a cash payment, as determined by the OpCo LLC Agreement. Upon redemption of OpCo Units, an equal number of Class B Shares will be canceled.
WaterBridge Resources LLC is the managing member of WBR Holdings and is controlled by a board of managers consisting of four members. Funds controlled by Five Point Energy GP I LP ("GP I") have a right to appoint a majority of the members of the board of managers. Five Point Energy GP I LLC ("GP I LLC") is the sole general partner of GP I, and David N. Capobianco is the sole member of GP I LLC. As a result, each of WaterBridge Resources LLC, GP I, GP I LLC and Mr. Capobianco may be deemed to beneficially own the securities held by WBR Holdings. Each such entity and individual disclaims beneficial ownership of such securities.
WaterBridge NDB LLC is the managing member of NDB Holdings and is controlled by a board of managers consisting of four members. Funds controlled by Five Point Energy GP II LP ("GP II") and Five Point Energy GP III LP ("GP III") have a right to appoint a majority of the members of the board of managers. Five Point Energy GP II LLC ("GP II LLC") is the sole general partner of GP II and Five Point Energy GP III LLC ("GP III LLC") is the sole general partner of GP III. David N. Capobianco is the sole member of each of GP II LLC and GP III LLC. As a result, each of GP II, GP III, GP II LLC, GP III LLC and Mr. Capobianco may be deemed to beneficially own the securities held by NDB Holdings. Each such entity and individual disclaims beneficial ownership of such securities.
Desert Holdings is controlled by a board of managers consisting of four members. Funds controlled by GP III have a right to appoint a majority of the members of the board of managers of Desert Holdings. As a result, each of GP III, GP III LLC and Mr. Capobianco may be deemed to beneficially own the securities held by Desert Holdings. Each such entity and individual disclaims beneficial ownership of such securities.
(b)
Percent of class:
The information contained on the cover pages is incorporated by reference into this Item 4(b).
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Row 5 of each of the cover pages.
(ii) Shared power to vote or to direct the vote:
See Row 6 of each of the cover pages.
(iii) Sole power to dispose or to direct the disposition of:
See Row 7 of each of the cover pages.
(iv) Shared power to dispose or to direct the disposition of:
See Row 8 of each of the cover pages.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
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:
Not Applicable
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.
WBR Holdings LLC
Signature:
/s/ Scott L. McNeely
Name/Title:
Scott L. McNeely, Executive Vice President, Chief Financial Officer
Date:
06/26/2026
WaterBridge Resources LLC
Signature:
/s/ Scott L. McNeely
Name/Title:
Scott L. McNeely, Executive Vice President, Chief Financial Officer
Date:
06/26/2026
NDB Holdings LLC
Signature:
/s/ Scott L. McNeely
Name/Title:
Scott L. McNeely, Executive Vice President, Chief Financial Officer
Date:
06/26/2026
WaterBridge NDB LLC
Signature:
/s/ Scott L. McNeely
Name/Title:
Scott L. McNeely, Executive Vice President, Chief Financial Officer
Date:
06/26/2026
Desert Environmental Holdings LLC
Signature:
/s/ Scott L. McNeely
Name/Title:
Scott L. McNeely, Executive Vice President, Chief Financial Officer
Date:
06/26/2026
Five Point Energy GP I LP
Signature:
By: Five Point Energy GP I LLC, its sole GP, By: /s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
Five Point Energy GP I LLC
Signature:
/s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
Five Point Energy GP II LP
Signature:
By: Five Point Energy GP II LLC, its sole GP, By: /s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
Five Point Energy GP II LLC
Signature:
/s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
Five Point Energy GP III LP
Signature:
By: Five Point Energy GP III LLC, its sole GP, By: /s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
Five Point Energy GP III LLC
Signature:
/s/ David Capobianco
Name/Title:
David Capobianco, sole member
Date:
06/26/2026
David Capobianco
Signature:
/s/ David Capobianco
Name/Title:
David Capobianco
Date:
06/26/2026
Exhibit Information
Exhibit 1: Joint Filing Agreement (incorporated by reference to Exhibit 1 of the Schedule 13G filed by the Reporting Persons on November 14, 2025).
