ALPS Advisors, Alerian ETF Report ~8% Stakes in WBI

WaterBridge Infrastructure LLC received a Schedule 13G disclosing large passive holdings by ALPS Advisors, Inc. and the Alerian MLP ETF.

Rhea-AI Filing Summary

WaterBridge Infrastructure LLC received a Schedule 13G disclosing large passive holdings by ALPS Advisors, Inc. and the Alerian MLP ETF. ALPS Advisors reports 9,851,493 common units (7.98% of the class) held on behalf of funds it advises; Alerian MLP ETF reports 9,734,757 units (7.89%).

The filing states both holders report shared voting and shared dispositive power over their respective positions and that ALPS Advisors disclaims beneficial ownership because the units are owned by advised funds. The filing is certified by Matthew Sutula, Chief Compliance Officer.

Insights

Institutional Ownership Analyst

Two institutional holders report near-8% stakes via shared authority.

The filing lists ALPS Advisors with 9,851,493 units (7.98%) and Alerian MLP ETF with 9,734,757 units (7.89%). Both report shared voting and shared dispositive power, indicating voting authority exercised with others or via fund structures.

Ownership is reported as held by funds advised by AAI; AAI disclaims beneficial ownership. Subsequent filings could disclose changes if voting or dispositive control shifts.

Regulatory Compliance Specialist

Schedule 13G used for passive/investment company holdings; disclosure appears procedural and compliant.

The statement references the Investment Company Act of 1940 and clarifies that the units are owned by funds to which AAI provides advice. The form includes required voting/dispositive power breakdowns and certification by the Chief Compliance Officer.

No statement of acquisition intent or control change is included; filings under other schedules would be expected if activism or control were intended.

Key Figures

ALPS Advisors units: 9,851,493 shares ALPS Advisors percent: 7.98% Alerian MLP ETF units: 9,734,757 shares +3 more

6 metrics

ALPS Advisors units 9,851,493 shares reported beneficial ownership

ALPS Advisors percent 7.98% percent of class

Alerian MLP ETF units 9,734,757 shares reported beneficial ownership

Alerian MLP ETF percent 7.89% percent of class

CUSIP 940923105 WaterBridge common units

Filing certification date 07/06/2026 signature by Chief Compliance Officer

Key Terms

Schedule 13G, Shared dispositive power, Investment Company Act of 1940

3 terms

Schedule 13G regulatory

"Item 1. Name of issuer: WaterBridge Infrastructure LLC"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Shared dispositive power financial

"Item 4. (iv) Shared power to dispose or to direct the disposition of"

Investment Company Act of 1940 regulatory

"Item 6. listing of the shareholders of an investment company registered under the Investment Company Act"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does ALPS Advisors report in WBI?

ALPS Advisors reports beneficial ownership of 9,851,493 common units, representing 7.98% of the class; the units are held by funds advised by AAI, which disclaims direct beneficial ownership.

How many WBI units does Alerian MLP ETF hold?

Alerian MLP ETF reports owning 9,734,757 common units, representing 7.89% of the class; those units are held in the fund that AAI advises per the filing.

Do these filings indicate active control of WaterBridge Infrastructure LLC?

No. The filing reports shared voting and shared dispositive power and is filed under Schedule 13G, which generally covers passive or investment-company holdings rather than an intent to control.

Who certified the Schedule 13G for these holdings?

The filing is certified and signed by Matthew Sutula, Chief Compliance Officer, with signature dates shown as 07/06/2026 in the submission.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/09/2026 - 11:52 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

WaterBridge Infrastructure LLC

(Name of Issuer)

Common Units Representing Limited Partner Interests

(Title of Class of Securities)

940923105

(CUSIP Number)

06/30/2026

(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

ALPS Advisors, 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

COLORADO

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,851,493.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,851,493.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,851,493.00

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)

7.98 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 940923105

1

Names of Reporting Persons

Alerian MLP ETF

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 9,734,757.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,734,757.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,734,757.00

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)

7.89 %

12

Type of Reporting Person (See Instructions)

IV

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, TX, 77056
Item 2.
(a)	Name of person filing: (1) ALPS Advisors, Inc. (2) Alerian MLP ETF
(b)	Address or principal business office or, if none, residence: (1) ALPS Advisors, Inc.: 1290 Broadway, Suite 1000, Denver, CO, 80203 (2) Alerian MLP ETF: 1290 Broadway, Suite 1000, Denver, CO, 80203
(c)	Citizenship: (1) ALPS Advisors, Inc.: Colorado (2) Alerian MLP ETF: Delaware
(d)	Title of class of securities: Common Units Representing Limited Partner Interests
(e)	CUSIP Number(s): 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: (1) ALPS Advisors, Inc.: 9851493 (2) Alerian MLP ETF: 9734757
(b)	Percent of class: (1) ALPS Advisors, Inc.: 7.98% (2) Alerian MLP ETF: 7.89%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: (1) ALPS Advisors, Inc.: 9851493 (2) Alerian MLP ETF: 9734757
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: (1) ALPS Advisors, Inc.: 9851493 (2) Alerian MLP ETF: 9734757
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. ALPS Advisors, Inc. ("AAI"), an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to investment companies registered under the Investment Company Act of 1940 (collectively referred to as the "Funds"). In its role as investment advisor, AAI has voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of the Issuer held by the Funds. However, all securities reported in this schedule are owned by the Funds. AAI disclaims beneficial ownership of such securities. In addition, the filing of this Schedule 13G shall not be construed as an admission that the reporting person or any of its affiliates is the beneficial owner of any securities covered by this Schedule 13G for any other purposes than Section 13(d) of the Securities Exchange Act of 1934. Alerian MLP ETF is an investment company registered under the Investment Company Act of 1940 and is one of the Funds to which AAI provides investment advice.
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. N/A
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. N/A
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. N/A

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.

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.

ALPS Advisors, Inc.

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	07/06/2026

Alerian MLP ETF

Signature:	/s/ Matthew Sutula
Name/Title:	Matthew Sutula, Chief Compliance Officer
Date:	07/06/2026

Comments accompanying 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.