Clarus Corporation ownership update:Greenhouse Funds LLLP and related Greenhouse entities report shared beneficial ownership of 5,448,431 shares, representing 14.2% of Clarus Corporation common stock. Related entities Greenhouse Fund GP LLC, Greenhouse Master Fund LP, and Greenhouse Long Only Master Fund LP report beneficial holdings of 4,314,706, 1,997,839, and 2,027,088 shares, respectively. The filing lists shared voting and shared dispositive power for these holdings; none of the reporting persons claim sole voting or sole dispositive power. The report is signed by Joseph Milano as authorized person for the filers.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by Greenhouse group.
The filing documents that Greenhouse Funds LLLP and affiliated entities collectively hold substantial positions in Clarus: 5,448,431 shares (14.2%) for the principal reporting entity. The schedule characterizes these holdings as shared voting and shared dispositive power, suggesting coordinated control or advisory arrangements rather than individual sole control.
Key dependencies include the identity of underlying advisory clients and any agreements among the Greenhouse entities. Subsequent filings or exhibits referenced (Exhibit B) may clarify control relationships and whether these positions translate to coordinated voting in corporate actions.
Voting power is shared; no sole dispositive authority reported.
The report explicitly states zero sole voting and sole dispositive power for each reporting person and instead reports shared voting and shared dispositive power figures (for example, 4,782,997 shared voting for several filers). This indicates the holdings are managed collectively or held for clients.
Monitor Exhibits A and B referenced in the filing for the joint filing agreement and control‑person identification to understand allocation of voting instructions and any potential influence on board matters.
Key Figures
Greenhouse Funds LLLP holdings:5,448,431 sharesPercent of class (Greenhouse Funds LLLP):14.2%Greenhouse Fund GP LLC holdings:4,314,706 shares+3 more
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared dispositive powerregulatory
"Item 4. | (c) | (iv) Shared power to dispose or to direct the disposition of: Greenhouse Funds LLLP - 5,448,431"
Joint Filing Agreementlegal
"Exhibit A - Joint Filing Agreement"
Amendment No. 10regulatory
"(Amendment No. 10 ) Clarus Corporation"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 10)
Clarus Corporation
(Name of Issuer)
Common Stock, par value $0.0001 per share
(Title of Class of Securities)
18270P109
(CUSIP Number)
03/31/2026
(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):
18270P109
1
Names of Reporting Persons
Greenhouse Funds LLLP
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
4,782,997.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,448,431.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,448,431.00
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)
14.2 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP Number(s):
18270P109
1
Names of Reporting Persons
Greenhouse GP 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
4,782,997.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,448,431.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,448,431.00
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)
14.2 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
18270P109
1
Names of Reporting Persons
Greenhouse Fund GP 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
4,314,706.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,314,706.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,314,706.00
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)
11.2 %
12
Type of Reporting Person (See Instructions)
HC, OO
SCHEDULE 13G
CUSIP Number(s):
18270P109
1
Names of Reporting Persons
Greenhouse Master Fund LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,997,839.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,997,839.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,997,839.00
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)
5.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
18270P109
1
Names of Reporting Persons
Greenhouse Long Only Master Fund LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,027,088.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,027,088.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,027,088.00
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)
5.3 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
18270P109
1
Names of Reporting Persons
Joseph Milano
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,782,997.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,448,431.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,448,431.00
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)
14.2 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Clarus Corporation
(b)
Address of issuer's principal executive offices:
2084 East 3900 South, Salt Lake City, Utah 84124
Item 2.
(a)
Name of person filing:
Greenhouse Funds LLLP
Greenhouse GP LLC
Greenhouse Fund GP LLC
Greenhouse Master Fund LP
Greenhouse Long Only Master Fund LP
Joseph Milano
(b)
Address or principal business office or, if none, residence:
Greenhouse Funds LLLP
605 S. Eden St.
Suite 250
Baltimore, MD 21231
Greenhouse GP LLC
605 S. Eden St.
Suite 250
Baltimore, MD 21231
Greenhouse Fund GP LLC
605 S. Eden St.
Suite 250
Baltimore, MD 21231
Greenhouse Master Fund LP
c/o Maples Corporate Services Limited
PO Box 309, Ugland House
Grand Cayman, KY1-1104
Cayman Islands
Greenhouse Long Only Master Fund LP
c/o Maples Corporate Services Limited
PO Box 309, Ugland House
Grand Cayman, KY1-1104
Cayman Islands
Joseph Milano
605 S. Eden St.
Suite 250
Baltimore, MD 21231
(c)
Citizenship:
Greenhouse Funds LLLP - Delaware
Greenhouse GP LLC - Delaware
Greenhouse Fund GP LLC - Delaware
Greenhouse Master Fund LP - Cayman Islands
Greenhouse Long Only Master Fund LP - Cayman Islands
Joseph Milano - United States
(d)
Title of class of securities:
Common Stock, par value $0.0001 per share
(e)
CUSIP No.:
18270P109
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:
Greenhouse Funds LLLP - 5,448,431
Greenhouse GP LLC - 5,448,431
Greenhouse Fund GP LLC - 4,314,706
Greenhouse Master Fund LP - 1,997,839
Greenhouse Long Only Master Fund LP - 2,027,088
Joseph Milano - 5,448,431
(b)
Percent of class:
Greenhouse Funds LLLP - 14.2%
Greenhouse GP LLC - 14.2%
Greenhouse Fund GP LLC - 11.2%
Greenhouse Master Fund LP - 5.2%
Greenhouse Long Only Master Fund LP - 5.3%
Joseph Milano - 14.2%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Greenhouse Funds LLLP - 0
Greenhouse GP LLC - 0
Greenhouse Fund GP LLC - 0
Greenhouse Master Fund LP - 0
Greenhouse Long Only Master Fund LP - 0
Joseph Milano - 0
(ii) Shared power to vote or to direct the vote:
Greenhouse Funds LLLP - 4,782,997
Greenhouse GP LLC - 4,782,997
Greenhouse Fund GP LLC - 4,314,706
Greenhouse Master Fund LP - 1,997,839
Greenhouse Long Only Master Fund LP - 2,027,088
Joseph Milano - 4,782,997
(iii) Sole power to dispose or to direct the disposition of:
Greenhouse Funds LLLP - 0
Greenhouse GP LLC - 0
Greenhouse Fund GP LLC - 0
Greenhouse Master Fund LP - 0
Greenhouse Long Only Master Fund LP - 0
Joseph Milano - 0
(iv) Shared power to dispose or to direct the disposition of:
Greenhouse Funds LLLP - 5,448,431
Greenhouse GP LLC - 5,448,431
Greenhouse Fund GP LLC - 4,314,706
Greenhouse Master Fund LP - 1,997,839
Greenhouse Long Only Master Fund LP - 2,027,088
Joseph Milano - 5,448,431
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.
All of the securities reported in this Schedule 13G Amendment No. 10 are directly owned by advisory clients of Greenhouse Funds LLLP. None of those advisory clients, other than Greenhouse Master Fund LP and Greenhouse Long Only Master Fund LP, may be deemed to beneficially own more than 5% of the Common Stock, par value $0.0001 per share.
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.
Please see Exhibit B attached hereto.
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 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.
Greenhouse Funds LLLP
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano. Authorized Person of the general partner
Date:
05/15/2026
Greenhouse GP LLC
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano, Authorized Person
Date:
05/15/2026
Greenhouse Fund GP LLC
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano, Authorized Person
Date:
05/15/2026
Greenhouse Master Fund LP
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano, Authorized Person of the general partner
Date:
05/15/2026
Greenhouse Long Only Master Fund LP
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano, Authorized Person of the general partner
Date:
05/15/2026
Joseph Milano
Signature:
/s/ Joseph Milano*
Name/Title:
Joseph Milano
Date:
05/15/2026
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
What stake does Greenhouse Funds LLLP hold in Clarus (CLAR)?
Greenhouse Funds LLLP beneficially owns 5,448,431 shares, equal to 14.2% of common stock. The filing lists this stake under shared voting and shared dispositive power and is signed by Joseph Milano as authorized person.
Which Greenhouse entities report holdings in Clarus (CLAR)?
The filing lists Greenhouse Funds LLLP, Greenhouse GP LLC, Greenhouse Fund GP LLC, Greenhouse Master Fund LP, and Greenhouse Long Only Master Fund LP, plus Joseph Milano, each reporting specified beneficial ownership amounts and voting/dispositive powers.
Do any reporting persons claim sole voting or dispositive power over CLAR shares?
No. Each reporting person indicates 0 sole voting power and 0 sole dispositive power; the filing shows only shared voting and shared dispositive power figures for the reported shares.
How much does Greenhouse Fund GP LLC beneficially own in Clarus (CLAR)?
Greenhouse Fund GP LLC reports beneficial ownership of 4,314,706 shares, representing 11.2% of Clarus common stock. The filing lists this amount under shared voting and shared dispositive power.
Are the reported CLAR shares owned directly or on behalf of clients?
The filing states the securities are directly owned by advisory clients of Greenhouse Funds LLLP. The report clarifies that, except for two funds, no single advisory client is reported to beneficially own more than 5% of the class.
