Cricut, Inc. shows reported beneficial ownership by Petrus-related entities of 120,882,351 shares of convertible Class B Common Stock, representing 68.72% on a combined basis as calculated in the filing.
The percentage is calculated on a base of 175,900,007 shares, which the filing states equals 55,017,656 shares of Class A Common Stock outstanding as of March 31, 2026 plus the 120,882,351 convertible Class B shares. Voting and dispositive control is described as exercised via an investment committee at Petrus Trust Company; no single person controls those decisions, per the filing.
Positive
None.
Negative
None.
Insights
Petrus-related entities control a supermajority of voting power through Class B shares.
The filing reports 120,882,351 convertible Class B shares held of record by HWGAA, L.P., with voting and dispositive control allocated via an investment committee at Petrus Trust Company. The filing ties the 68.72% figure to a calculated base of 175,900,007 shares.
Key governance implications include sustained control over vote outcomes while the Class B shares remain convertible; subsequent filings or conversions would update the ownership picture. Timing for any conversion or disposition is not stated in the provided excerpt.
Key Figures
Class B shares beneficially owned:120,882,351 sharesCalculated ownership percentage:68.72%Calculation base:175,900,007 shares+1 more
4 metrics
Class B shares beneficially owned120,882,351 sharesreported by Petrus entities (as stated in filing)
Calculated ownership percentage68.72%based on 175,900,007-share calculation in filing
Calculation base175,900,007 shares55,017,656 Class A outstanding as of March 31, 2026 plus 120,882,351 convertible Class B shares
Class A shares outstanding55,017,656 sharesoutstanding as of March 31, 2026 (stated in filing)
Key Terms
convertible Class B Common Stock, beneficially owned, Schedule 13G/A
3 terms
convertible Class B Common Stockfinancial
"120,882,351 shares of convertible Class B Common Stock held of record by HWGAA"
beneficially ownedregulatory
"120,882,351 shares of Class B Common Stock beneficially owned by PTC"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Schedule 13G/Aregulatory
"This Schedule 13G/A amends prior filings and reports beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
Cricut, Inc.
(Name of Issuer)
Class A Common Stock, $0.001 par value
(Title of Class of Securities)
22658D100
(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):
22658D100
1
Names of Reporting Persons
Petrus Trust Company, LTA
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
TEXAS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
120,882,351.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
120,882,351.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
120,882,351.00
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)
68.72 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The shares set forth in Rows 5,7 and 9 consist of 120,882,351 shares of Class B Common Stock held of record by HWGAA, L.P. (HWGAA) and for which Petrus Capital Management, LLC (PCM) serves as the general partner. Petrus Trust Company, LTA (PTC) serves as an investment advisor to HWGAA. An investment committee of PTC comprised of three individuals has voting and dispositive control over the Class B Common Stock held by HWGAA. No single person controls investment or voting decisions with respect to the shares beneficially owned by PTC.
The percentage set forth in Row 11 is calculated based on 175,900,007 shares of Class A Common Stock of the Issuer, which includes 55,017,656 shares of Class A Common Stock outstanding as of March 31, 2026, plus 120,882,351 shares of convertible Class B Common Stock beneficially owned by PTC.
SCHEDULE 13G
CUSIP Number(s):
22658D100
1
Names of Reporting Persons
Petrus 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
TEXAS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
120,882,351.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
120,882,351.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
120,882,351.00
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)
68.72 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The shares set forth in Rows 5,7 and 9 consist of 120,882,351 shares of Class B Common Stock held of record by HWGAA, for which PCM serves as the general partner. PTC serves as an investment advisor to HWGAA. An investment committee of PTC comprised of three individuals has voting and dispositive control over the Class B Common Stock held by HWGAA. Each member of the investment committee has one vote, and the approval of two of the three members is required to approve an action of the investment committee. No single person controls investment or voting decisions with respect to the shares beneficially owned by PCM.
The percentage set forth in Row 11 is calculated based on 175,900,007 shares of Class A Common Stock of the Issuer, which includes 55,017,656 shares of Class A Common Stock outstanding as of March 31, 2026, plus 120,882,351 shares of convertible Class B Common Stock beneficially owned by PCM.
SCHEDULE 13G
CUSIP Number(s):
22658D100
1
Names of Reporting Persons
HWGAA, L.P.
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
120,882,351.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
120,882,351.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
120,882,351.00
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)
68.72 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The shares set forth in Rows 5,7 and 9 consist of 120,882,351 shares of Class B Common Stock held of record by HWGAA, for which PCM serves as the general partner. PTC serves as an investment advisor to HWGAA. An investment committee of PTC comprised of three individuals has voting and dispositive control over the Class B Common Stock held by HWGAA. Each member of the investment committee has one vote, and the approval of two of the three members is required to approve an action of the investment committee. No single person controls investment or voting decisions with respect to the shares held by HWGAA.
The percentage set forth in Row 11 is calculated based on 175,900,007 shares of Class A Common Stock of the Issuer, which includes 55,017,656 shares of Class A Common Stock outstanding as of March 31, 2026, plus 120,882,351 shares of convertible Class B Common Stock held of record by HWGAA.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Cricut, Inc.
(b)
Address of issuer's principal executive offices:
10855 South River Front Parkway, Suite 600 South Jordan, UT 84095
Item 2.
(a)
Name of person filing:
Each of the following is a reporting person ("Reporting Person"):
Petrus Trust Company, LTA
Petrus Capital Management, LLC
HWGAA, L.P.
(b)
Address or principal business office or, if none, residence:
c/o Petrus Trust Company 3000 Turtle Creek Boulevard Dallas, Texas 75219
(c)
Citizenship:
Reference is made to the response to Row 4 on each of pages 2-4 of this Schedule 13G/A (this "Schedule"), which responses are incorporated herein by reference.
(d)
Title of class of securities:
Class A Common Stock, $0.001 par value
(e)
CUSIP No.:
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:
Reference is made to the response to Row 9 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
(b)
Percent of class:
Reference is made to the response to Row 11 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Reference is made to the response to Row 5 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
Reference is made to the response to Row 6 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
Reference is made to the response to Row 7 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
Reference is made to the response to Row 8 on each of pages 2-4 of this Schedule, which responses are incorporated herein by reference.
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:
Not Applicable
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.
Petrus Trust Company, LTA
Signature:
/s/ Jonathan Covin, General Counsel
Name/Title:
Petrus Trust Company, LTA
Date:
04/10/2026
Petrus Capital Management, LLC
Signature:
/s/ Jonathan Covin, General Counsel
Name/Title:
Petrus Capital Management, LLC
Date:
04/10/2026
HWGAA, L.P.
Signature:
/s/ Jonathan Covin, General Counsel
Name/Title:
Petrus Capital Management, LLC, the general partner of HWGAA, L.P.
Date:
04/10/2026
Exhibit Information
Exhibit 1: Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons on February 14, 2022).
Petrus-related entities report beneficial ownership of 120,882,351 shares of convertible Class B Common Stock. The filing states this equals 68.72% on the combined-share basis used in the calculation.
How is the 68.72% ownership percentage calculated?
The percentage is calculated on 175,900,007 shares, equal to 55,017,656 Class A shares outstanding as of March 31, 2026 plus the 120,882,351 convertible Class B shares beneficially owned.
Which entities are listed as reporting persons on the Schedule 13G/A?
The reporting persons are Petrus Trust Company, LTA, Petrus Capital Management, LLC, and HWGAA, L.P., each shown with the same beneficial share count and percentage.
Who has voting and dispositive control of the reported shares?
The filing states an investment committee of Petrus Trust Company, composed of three individuals, has voting and dispositive control; approval of two members is required and no single person controls decisions.
What Class A share count is used as the base for the percentage?
The filing uses 55,017,656 shares of Class A Common Stock outstanding as of March 31, 2026 as part of the base for the percentage calculation.
