Horizon Kinetics Acquires 6.35M Shares of WaterBridge Infrastructure Worth $160.26M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
0mins
Source: Fool
- New Investment Disclosure: Horizon Kinetics Asset Management disclosed an acquisition of approximately 6.35 million shares of WaterBridge Infrastructure LLC valued at $160.26 million in a recent SEC filing, representing 1.95% of its $8.2 billion reportable holdings, indicating confidence in the company.
- Portfolio Diversification: As of quarter-end, the fund held 329 U.S. equity positions, with top holdings including Texas Pacific Land ($3.27 billion) and GBTC ($1.27 billion), reflecting a broad strategy in the energy and asset management sectors.
- Post-IPO Performance: In its first reported quarter as a public company, WaterBridge achieved pro forma revenue of $205.5 million, an 8% quarter-over-quarter increase driven by produced water volumes reaching 2.5 million barrels per day, showcasing strong growth potential in water management infrastructure.
- Improved Financial Position: The company utilized its IPO and a subsequent $1.425 billion senior notes offering to refinance legacy debt, extend maturities, and boost liquidity to $547 million, enhancing its financial stability and capacity for future growth.
Analyst Views on WBI
Wall Street analysts forecast WBI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WBI is 28.00 USD with a low forecast of 23.00 USD and a high forecast of 32.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
4 Buy
5 Hold
0 Sell
Moderate Buy
Current: 23.110
Low
23.00
Averages
28.00
High
32.00
Current: 23.110
Low
23.00
Averages
28.00
High
32.00
About WBI
Waterbridge Infrastructure LLC is an integrated, pure-play water infrastructure company with operations predominantly in the Delaware Basin, the oil and natural gas basin in North America, with additional assets in the Eagle Ford and Arkoma Basins. The Company operates a water infrastructure network in the United States, through which it provides water management solutions to oil and natural gas exploration and production companies under long-term contracts, which include gathering, transporting, recycling and handling produced water. The Company's infrastructure network includes approximately 2,500 miles of pipelines and 197 produced water handling facilities, which handle over 2.6 million bpd of produced water for its customers and have more than 4.5 million bpd of total produced water handling capacity. Its advanced recycling processes allow it to return water to the ecosystem, supporting sustainable operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
