Amundi reports 4.78% stake in H2O America

Rhea-AI Filing Summary

H2O America received an amended Schedule 13G/A showing that French asset manager Amundi and its affiliate Amundi Asset Management beneficially own 1,712,886 shares of H2O America common stock, representing 4.78% of the outstanding class as of the event on 12/31/2025.

They report shared voting power over 1,178,916 shares and shared dispositive power over all 1,712,886 shares, with no sole voting or dispositive authority. The filers state the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of H2O America.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Amundi report in this H2O America (HTO) Schedule 13G/A?

Amundi and Amundi Asset Management report beneficial ownership of 1,712,886 H2O America shares, representing 4.78% of the common stock. The filing states these shares are held in the ordinary course of business, not to change or influence control of the company.

How large is Amundi’s ownership stake in H2O America (HTO)?

Amundi’s group reports beneficial ownership of 1,712,886 H2O America common shares, equal to 4.78% of the class. This level is below the 5% threshold often associated with more detailed activist or control-related disclosure requirements for institutional holders.

What voting power does Amundi have over H2O America (HTO) shares?

The filing shows shared voting power over 1,178,916 shares of H2O America and no sole voting power. Amundi and Amundi Asset Management also have shared dispositive power over 1,712,886 shares, meaning decisions to sell or hold are made on a shared basis.

Why does Amundi say it holds H2O America (HTO) shares?

Amundi certifies the H2O America shares were acquired and are held in the ordinary course of business. It also states they were not acquired, and are not held, for the purpose of changing or influencing control of H2O America or participating in a control-related transaction.

Who signed the H2O America (HTO) Schedule 13G/A on behalf of Amundi?

The filing is signed by John M. Malone, identified as Chief Compliance Officer and holding a Power of Attorney. His signature certifies, after reasonable inquiry, that the information in the statement is true, complete, and correct as of the stated date.

Which Amundi entities are involved in this H2O America (HTO) filing?

The Schedule 13G/A lists Amundi and Amundi Asset Management, both organized under the laws of France. The filing also references subsidiaries including Amundi Asset Management, KBI Global Investors (North America) Ltd, and KBI Global Investors Ltd in the ownership structure description.

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Accepted by SEC EDGAR 02/17/2026 - 04:55 PM EST Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

H2O AMERICA

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

784305104

(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. 784305104

1

Names of Reporting Persons

AMUNDI

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

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,178,916.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,712,886.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,712,886.00

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)

4.78 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. 784305104

1

Names of Reporting Persons

AMUNDI ASSET MANAGEMENT

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

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,178,916.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,712,886.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,712,886.00

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)

4.78 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: H2O AMERICA
(b)	Address of issuer's principal executive offices: 110 W. Taylor Street, San Jose, CA 95110
Item 2.
(a)	Name of person filing: Amundi Amundi Asset Management
(b)	Address or principal business office or, if none, residence: Amundi: 91-93 boulevard Pasteur, 75015 Paris, France Amundi Asset Management: 91-93 boulevard Pasteur, 75015 Paris, France
(c)	Citizenship: Both Amundi and Amundi Asset Management are organized under the laws of the Republic of France.
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 784305104
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: 1,712,886
(b)	Percent of class: 4.78%
(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: 1,178,916
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,712,886
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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. Amundi Asset Management KBI Global Investors (North America) Ltd KBI Global Investors Ltd
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.

AMUNDI

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	02/17/2026

AMUNDI ASSET MANAGEMENT

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	02/17/2026