Ameriprise Financial and affiliated entities reported beneficial ownership stakes in Energy Recovery, Inc. As of March 31, 2026, Ameriprise-related holders report shared dispositive power over 5,259,816 shares (10.0%). Separate Threadneedle/Columbia Threadneedle entities report positions including 2,761,541 shares (5.2%) held by CT (Lux) American Smaller Companies.
The filing is an amended Schedule 13G/A documenting institutional ownership and identifies the Ameriprise group and several Luxembourg and UK entities as reporting persons.
Positive
None.
Negative
None.
Insights
Large institutional holdings noted: Ameriprise group at 10.0% and Columbia Threadneedle sub-fund at 5.2%.
These entries list exact share counts and percent ownership as of March 31, 2026, with Ameriprise entities showing shared dispositive power for 5,259,816 shares. The Schedule 13G/A format indicates passive/investment reporting rather than activist intent.
Future filings may update positions; changes would appear in subsequent amendments or Schedule 13D/13G updates.
The amendment documents joint reporting by multiple related entities and includes required exhibits and powers of attorney.
The filing identifies parent/affiliate relationships, disclaims direct beneficial ownership for some reporting persons, and attaches Exhibit I (subsidiary identifications) and Exhibit II (joint filing agreement). Signatures are provided by authorized representatives.
No transactional sales or acquisitions are disclosed; the filing serves as an ownership disclosure under applicable rules.
Key Figures
Ameriprise shared dispositive power:5,259,816 sharesAmeriprise percent of class:10.0%CT (Lux) American Smaller Companies holdings:2,761,541 shares+3 more
6 metrics
Ameriprise shared dispositive power5,259,816 sharesas of March 31, 2026
Ameriprise percent of class10.0%as of March 31, 2026
CT (Lux) American Smaller Companies holdings2,761,541 sharesas of March 31, 2026
CT (Lux) percent of class5.2%as of March 31, 2026
TAM UK International holdings4,276,415 sharesas of March 31, 2026
Threadneedle entity example holding1,514,874 sharesreported by multiple Threadneedle entities; as of March 31, 2026
"Amendment No. 4 and heading showing the filing type"
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.
Shared Dispositive Powerregulatory
"Rows showing 'Shared Dispositive Power 5,259,816.00' on the cover data"
Beneficially ownedregulatory
"Item 4. Ownership (a) Amount beneficially owned: Incorporated by reference"
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.
Ameriprise-related entities report shared dispositive power over 5,259,816 shares representing 10.0%. This figure is reported as of March 31, 2026 and appears on the amended Schedule 13G/A cover rows for the Ameriprise reporting persons.
Which Columbia Threadneedle entity holds shares of ERII?
CT (Lux) American Smaller Companies reports ownership of 2,761,541 shares, equal to 5.2%. That position is shown on the same Schedule 13G/A and is dated March 31, 2026.
Does the filing indicate control or voting power changes for ERII?
The filing shows reported sole and shared voting/dispositive powers by each reporting person, with Ameriprise reporting shared voting power for 5,258,831 shares. It is an ownership disclosure and does not state any change in corporate control.
Who signed the Schedule 13G/A for these holdings?
Signatures include Michael G. Clarke signing on behalf of Ameriprise entities and Columbia Management Investment Advisers, LLC, plus Claire Manier for Threadneedle Management Luxembourg S.A., with signature dates of 04/08/2026.
Are these holdings reported as beneficially owned by a single entity?
No. The filing explains that AFI may be deemed to beneficially own shares reported by affiliate reporting persons, and each Ameriprise Entity disclaims direct beneficial ownership; holdings reflect aggregated reporting across related entities.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Energy Recovery, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
29270J100
(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):
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
5,258,831.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
5,259,816.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,259,816.00
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)
10.0 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP Number(s):
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
4,276,415.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,276,415.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,276,415.00
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)
8.1 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
1,514,874.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,514,874.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,514,874.00
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)
2.9 %
12
Type of Reporting Person (See Instructions)
FI
SCHEDULE 13G
CUSIP Number(s):
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
2,761,541.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,761,541.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,761,541.00
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)
FI
SCHEDULE 13G
CUSIP Number(s):
29270J100
1
Names of Reporting Persons
CT (Lux) American Smaller Companies, a sub-fund of Columbia Threadneedle (Lux) I SICAV
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
2,761,541.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,761,541.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,761,541.00
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)
IV
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")
(j) CT (Lux) American Smaller Companies, a sub-fund of Columbia Threadneedle (Lux) I SICAV ("Fund")
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
(j) Luxembourg
(d)
Title of class of securities:
Common Stock
(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:
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.
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.
To the knowledge of the Ameriprise Entities and the Fund, no other persons besides the Ameriprise Entities and the Fund and those persons for whose shares of common stock the Ameriprise Entities report beneficial ownership have the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of the securities of the issuer reported herein. As of March 31, 2026, only the Fund owned more than 5% of the class of securities reported herein.
Any remaining shares reported herein by the Ameriprise Entities are held by various other funds or accounts managed by one or more of the Ameriprise Entities which each have the right to receive any dividends paid by the issuer and could terminate their respective investment advisory relationship with the applicable Ameriprise Entity and then subsequently direct the use of proceeds from the sale of the common stock owned by such fund or account. To the knowledge of the Ameriprise Entities, none of these other funds or accounts own more than 5% of the outstanding shares of the issuer as March 31, 2026, other than the Funds.
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 SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
TAM UK International Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
Threadneedle Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
TAM UK Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
Threadneedle Asset Management Holdings Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
TC Financing Ltd
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
Threadneedle Asset Management Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact,By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
Threadneedle Investment Services Limited
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
Threadneedle Management Luxembourg S.A.
Signature:
/s/ Michael G. Clarke
Name/Title:
By: Columbia Management Investment Advisers, LLC, as Attorney in Fact, By: Michael G. Clarke SVP, North America Head of Operations & Investor Services
Date:
04/08/2026
CT (Lux) American Smaller Companies, a sub-fund of Columbia Threadneedle (Lux) I SICAV
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
