Ameriprise Financial and its affiliates filed Amendment No. 3 to a Schedule 13G/A reporting their holdings in Energy Recovery, Inc. common stock. Ameriprise Financial, Inc. reports beneficial ownership of 4,563,348 shares, representing 8.6% of the class, all with shared voting and dispositive power.
Within the Ameriprise group, UK International Holdings Limited reports 3,860,753 shares (7.3%), and Threadneedle Management Luxembourg S.A. reports 2,458,997 shares (4.6%). Several related Threadneedle entities each report 1,401,756 shares (2.7%). The Ameriprise entities state the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of Energy Recovery.
What ownership stake in Energy Recovery (ERII) does Ameriprise report?
Ameriprise Financial, Inc. reports beneficial ownership of 4,563,348 Energy Recovery common shares, representing 8.6% of the outstanding class. All of these shares are reported with shared voting and shared dispositive power among Ameriprise-related entities.
Which Ameriprise affiliate holds the largest Energy Recovery (ERII) position?
UK International Holdings Limited, an Ameriprise affiliate, reports the largest single position with 3,860,753 Energy Recovery shares, equal to 7.3% of the common stock. These shares are reported with shared voting and shared dispositive power within the Ameriprise group.
How much of Energy Recovery (ERII) stock does Threadneedle Management Luxembourg hold?
Threadneedle Management Luxembourg S.A. reports beneficial ownership of 2,458,997 Energy Recovery common shares, representing 4.6% of the class. All of these shares are listed with shared voting and shared dispositive power among related Ameriprise entities.
Do Ameriprise entities seek to influence control of Energy Recovery (ERII)?
The Ameriprise entities certify the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Energy Recovery, nor in connection with any transaction intended to have that effect.
Which entities are included as Ameriprise group filers for Energy Recovery (ERII)?
The filing lists Ameriprise Financial, Inc. and multiple affiliates, including UK International Holdings Limited, several Threadneedle entities, and Threadneedle Management Luxembourg S.A.. Together they are described as the “Ameriprise Entities” for this Schedule 13G/A.
What is the filing date and event date for this Energy Recovery (ERII) Schedule 13G/A?
The Schedule 13G/A, Amendment No. 3, reports holdings as of the event date 12/31/2025. The signatures on the statement, executed by Michael G. Clarke on behalf of the reporting entities, are dated 02/17/2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
Energy Recovery, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
29270J100
(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.
29270J100
1
Names of Reporting Persons
Ameriprise Financial, Inc.
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
4,562,723.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,563,348.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,563,348.00
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)
8.6 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
TAM UK International Holdings Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,860,753.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,860,753.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,860,753.00
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)
7.3 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
Threadneedle Holdings Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
TAM UK Holdings Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
Threadneedle Asset Management Holdings Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
TC Financing Ltd
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
Threadneedle Asset Management Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
Threadneedle Investment Services Limited
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 KINGDOM
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,401,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,401,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,401,756.00
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)
2.7 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP No.
29270J100
1
Names of Reporting Persons
Threadneedle Management Luxembourg S.A.
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
LUXEMBOURG
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,458,997.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,458,997.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,458,997.00
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)
4.6 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Energy Recovery, Inc.
(b)
Address of issuer's principal executive offices:
1717 Doolittle Drive, San Leandro, CA 94577
Item 2.
(a)
Name of person filing:
(a) Ameriprise Financial, Inc. ("AFI")
(b) TAM UK International Holdings Limited ("TAMUKI")
(c) Threadneedle Holdings Limited ("THL")
(d) TAM UK Holdings Limited ("TUHL")
(e) Threadneedle Asset Management Holdings Limited ("TAMHL")
(f) TC Financing Ltd ("TCFL")
(g) Threadneedle Asset Management Limited ("TAML")
(h) Threadneedle Investment Services Limited ("TISL")
(i) Threadneedle Management Luxembourg S.A. ("TML")
Persons (a) through (i) are sometimes referred to herein as the "Ameriprise Entities".
(b)
Address or principal business office or, if none, residence:
(a) Delaware
(b) United Kingdom
(c) United Kingdom
(d) United Kingdom
(e) United Kingdom
(f) United Kingdom
(g) United Kingdom
(h) United Kingdom
(i) Luxembourg
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
29270J100
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:
Incorporated by reference to Items (5)-(9) and (11) of the cover page pertaining to each reporting person.
AFI, as the parent company of the other Ameriprise Entities, may be deemed to beneficially own the shares reported herein by those reporting persons. Accordingly, the shares reported herein by AFI include those shares separately reported herein by those reporting persons.
Each of the Ameriprise Entities disclaims beneficial ownership of any shares reported on this Schedule.
(b)
Percent of class:
The information required by Item 4(b) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c) is set forth in Rows (5)-(9) and (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each Reporting Person.
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.
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.
AFI: See Exhibit I
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.
Ameriprise Financial, Inc.
Signature:
/s/ Michael G. Clarke
Name/Title:
Michael G. Clarke, Senior Vice President, North America Head of Operations & Investor Services
Date:
02/17/2026
TAM UK International Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Threadneedle Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
TAM UK Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Threadneedle Asset Management Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
TC Financing Ltd
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Threadneedle Asset Management Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Threadneedle Investment Services Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Threadneedle Management Luxembourg S.A.
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Mgmt Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke, SVP, North America Head of Operations & Investor Services
Date:
02/17/2026
Comments accompanying signature:
Contact Information
Charles Chiesa
VP Fund Treasurer Global Operations and Investor Services
Telephone: 617-385-9593
Exhibit Information
Exhibit Index
Exhibit I Identification and Classification of the Subsidiaries which Acquired the Security Being
Reported on by the Parent Holding Company.
Exhibit II Joint Filing Agreement
Exhibit III Powers of Attorney
