Hood River discloses 9.58% Babcock & Wilcox (BW) ownership stake

Rhea-AI Filing Summary

Hood River Capital Management LLC has filed a Schedule 13G reporting a significant passive stake in Babcock & Wilcox Enterprises Inc. common stock. As of 12/31/2025, it beneficially owned 10,648,389 shares, representing 9.58% of the company’s common stock.

Hood River reports no voting power over these shares but has sole dispositive power, meaning it can decide when to sell them. The firm certifies the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of Babcock & Wilcox.

Insights

Equity ownership and governance analyst

Large passive holder reports 9.58% ownership with sole sale authority but no voting power.

Hood River Capital Management LLC reports beneficial ownership of 10,648,389 Babcock & Wilcox common shares, equal to 9.58% of the class as of 12/31/2025. It discloses sole power to dispose of the shares but no power to vote them.

The passive Schedule 13G certification states the position is held in the ordinary course of business and not to influence control. This indicates an institutional, non-activist stance. Actual impact on corporate decisions should be limited given the absence of voting authority.

The size of the stake means Hood River is a major economic holder, so future filings updating this ownership percentage could matter to liquidity and ownership concentration, but this document itself does not indicate any change in strategy or governance intentions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Babcock & Wilcox Enterprises Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

05614L100

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 05614L100

1

Names of Reporting Persons

Hood River Capital Management 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 0.00
7	Sole Dispositive Power 10,648,389.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,648,389.00

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)

9.58 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Babcock & Wilcox Enterprises Inc.
(b)	Address of issuer's principal executive offices: 1200 E Market Street, Suite 650, Akron, OH, 44305
Item 2.
(a)	Name of person filing: Hood River Capital Management LLC
(b)	Address or principal business office or, if none, residence: 2373 PGA Blvd., Suite 200, Palm Beach Gardens, FL 33410
(c)	Citizenship: United States
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 05614L100
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: 10,648,389
(b)	Percent of class: 9.58 %
(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: 0
	(iii) Sole power to dispose or to direct the disposition of: 10,648,389
	(iv) Shared power to dispose or to direct the disposition of: 0
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:

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.

Hood River Capital Management LLC

Signature:	/s/ Robert Schmaltz
Name/Title:	CCO, COO
Date:	02/03/2026

FAQ

What ownership stake in Babcock & Wilcox (BW) does Hood River report?

Hood River Capital Management LLC reports beneficial ownership of 10,648,389 Babcock & Wilcox common shares, representing 9.58% of the class as of 12/31/2025. This makes Hood River a significant institutional holder of BW’s common stock.

Does Hood River Capital have voting power over its Babcock & Wilcox (BW) shares?

Hood River reports no sole or shared voting power over its Babcock & Wilcox shares. However, it has sole dispositive power over 10,648,389 shares, allowing it to decide when and how to sell them.

Is Hood River’s Babcock & Wilcox (BW) position passive or activist?

The filing characterizes Hood River’s position as passive. The firm certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Babcock & Wilcox.

What type of securities in Babcock & Wilcox (BW) does Hood River own?

Hood River’s reported holdings are in Babcock & Wilcox Enterprises Inc. common stock, identified by CUSIP 05614L100. The Schedule 13G covers only this class of securities, representing a 9.58% beneficial ownership stake.

When was Hood River’s Babcock & Wilcox (BW) ownership measured for this filing?

The Schedule 13G reports Hood River’s ownership as of 12/31/2025. On that date, it beneficially owned 10,648,389 Babcock & Wilcox common shares, representing 9.58% of the outstanding class at that time.