LandBridge Co

LB

Market cap $1.54B

Added 66,806 shares, raising the position by $1,028,693 Post-trade stake: 244,982 shares valued at $13,069,801 LandBridge is now 3.43% of fund AUM, placing it outside the fund's top five holdings

Texas Pacific Land Corporation, LandBridge Company LLC, and WaterBridge Infrastructure LLC are poised to benefit from the next phase of U.S. shale, dubbed "shale 4.0." Innovative extraction technologies and increased water needs are driving demand for land, water disposal, and infrastructure, boosting pricing power for TPL and LB. Despite current market apathy due to low oil prices, the long-term outlook for asset-light land and water businesses in the Permian Basin remains highly bullish.

HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB; NYSE Texas: LB) (“LandBridge”) announced today that DBR Land Holdings LLC, a subsidiary of LandBridge, has priced its offering of $500 million aggregate principal amount of 6.250% senior notes due 2030 at par (the “Notes”). The offering is expected to close on November 25, 2025, subject to customary closing conditions. LandBridge intends to use the net proceeds from the offering of the Notes, together with borrowings under its new cred.

HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB; NYSE Texas: LB) (“LandBridge”) announced today that DBR Land Holdings LLC, a subsidiary of LandBridge, intends to offer $500 million in aggregate principal amount of senior notes (the “Notes”) in a private placement to eligible purchasers, subject to market conditions. LandBridge intends to use the net proceeds from the offering of the Notes, together with borrowings under its new credit facility, to repay all outstanding borrowings un.

HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB) (“LandBridge” or the "Company") today announced the pricing of an underwritten public offering of 2,500,000 Class A shares representing limited liability company interests (“Class A shares”), at a price to the public of $71.00 per share, by LandBridge Holdings LLC (the “Selling Shareholder”). LandBridge will not sell any Class A shares in the offering and will not receive any proceeds therefrom. The Selling Shareholder granted the unde.

HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB) (“LandBridge” or the “Company”) today announced the commencement of an underwritten public offering of 2,500,000 Class A shares representing limited liability company interests (“Class A shares”) by LandBridge Holdings LLC (the “Selling Shareholder”). LandBridge will not sell any Class A shares in the offering and will not receive any proceeds therefrom. The Selling Shareholder expects to grant the underwriter a 30-day option to purcha.

LandBridge (LB) is my largest holding, embodying bullish themes in energy, water, and commercial land in the Permian Basin. LB's unique value lies in its contiguous land, water disposal assets, and growing surface operations, with data center potential as a major future catalyst. Despite volatility and market skepticism, LB delivers strong EBITDA growth, high margins, and prudent M&A, supporting a long-term price target of $120+ per share.

LandBridge Company LLC ( LB ) Q3 2025 Earnings Call November 13, 2025 10:30 AM EST Company Participants Mae Harrington Jason Long - President & CEO Scott McNeely - Executive VP & CFO Conference Call Participants John Mackay - Goldman Sachs Group, Inc., Research Division Theresa Chen - Barclays Bank PLC, Research Division Alexander Goldfarb - Piper Sandler & Co., Research Division Charles Meade - Johnson Rice & Company, L.L.C., Research Division Derrick Whitfield - Texas Capital Securities, Research Division Kevin MacCurdy - Pickering Energy Partners Insights Presentation Operator Thank you for standing by.

LandBridge is emerging as a royalty landlord in the heart of the Permian water bottleneck, with a fee-based model that delivers exceptional margins and cash flow. Q3 confirmed the flywheel: record surface revenues, record produced-water volumes, and EBITDA margins near 90%, all while crude prices slide — proving LB isn't a commodity play. The business is outstanding, but the stock isn't cheap: at roughly $80, LB trades at premium multiples that leave little margin of safety unless new surface-use catalysts materialize quickly.

HOUSTON--(BUSINESS WIRE)--LandBridge Company LLC (NYSE: LB) (the “Company,” or “LandBridge”) today announced its financial and operating results for the third quarter ended September 30, 2025. Third Quarter 2025 Financial Highlights Revenues of $50.8 million, up 78% year-over-year and 7% quarter-over-quarter Net income(1) of $20.3 million Net income margin(1) of 40% Adjusted EBITDA(2) of $44.9 million, up 79% year-over-year and 6% quarter-over-quarter Adjusted EBITDA Margin(2) of 88% Cash flows.