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Stock impact report

2026 New Year Letter From Our Founders [Seeking Alpha]

WaterBridge Infrastructure LLC Class A Shares Representing Limited Liability Company Interests (WBI) 
Company Research Source: Seeking Alpha
WaterBridge Infrastructure LLC, via a September 2025 IPO, is a slightly more recent portfolio holding than MIAX. While TPL was no doubt the preeminent entree in our curricula vitae for the LandBridge and WaterBridge transactions, there were others. Shutthiphong Chandaeng/iStock via Getty Images Dear Clients and Friends: Some clients have remarked upon the private investment funds we've been presenting in recent years—and presenting with some greater frequency. From real-asset royalty funds to more than one private securities exchange, then to cryptocurrency mining, and this year both a data-center project and an AI company. (Not the help-with-college-essay AI, but the new drug discovery, high-performance-computing type.) It's been asked whether we've wandered from the path of fundamental value investing or become enamored of private funds over individual account management. Rather than “none of the above,” the answer is “the opposite.” These offerings are natural extensio Show less Read more
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