Tetragon Group discloses 5.6% holding in UiPath (NYSE: PATH)

Rhea-AI Filing Summary

UiPath, Inc.: Schedule 13G — Tetragon Group reports a 5.6% stake

Tetragon Financial Group and affiliated entities disclosed beneficial ownership of 25,500,201 shares of UiPath Class A common stock, representing 5.6% of the class, based on 459,231,166 shares outstanding as of March 20, 2026. Related entities (including Tetragon Partners and investment managers) and principals Patrick Dear and Reade Griffith are listed as reporting persons. The filing also shows Westbourne River Event Master Fund holding 4,632,044 shares (approximately 1.0%).

Key Figures

Shares outstanding: 459,231,166 shares Tetragon beneficial ownership: 25,500,201 shares Tetragon percent of class: 5.6% +2 more

5 metrics

Shares outstanding 459,231,166 shares as of March 20, 2026

Tetragon beneficial ownership 25,500,201 shares reported in Schedule 13G

Tetragon percent of class 5.6% of Class A common stock

Westbourne beneficial ownership 4,632,044 shares reported on cover page

Westbourne percent of class 1.0% of Class A common stock

Key Terms

Schedule 13G, beneficially owned, shared dispositive power

3 terms

Schedule 13G regulatory

"This statement is filed by: ... (Schedule 13G context)"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Amount beneficially owned: The information required by Item 4(a) ..."

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.

shared dispositive power regulatory

"Shared Dispositive Power 25,500,201.00 9 25,500,201.00"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

UiPath, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.00001 per share

(Title of Class of Securities)

90364P105

(CUSIP Number)

03/25/2026

(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): 90364P105

1

Names of Reporting Persons

Westbourne River Event Master Fund

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 4,632,044.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,632,044.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,632,044.00

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)

1.0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Financial Group 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

GUERNSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,500,201.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,500,201.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,500,201.00

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)

5.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Partners 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,500,000.00

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)

1.6 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Partners GP 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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 7,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,500,000.00

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)

1.6 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Partners US 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,632,044.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,632,044.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,632,044.00

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)

1.0 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Partners UK LLP

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 7,500,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,500,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,500,000.00

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)

1.6 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Tetragon Financial Management 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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 25,500,201.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,500,201.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,500,201.00

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)

5.6 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Patrick G. G. Dear

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 25,500,201.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,500,201.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,500,201.00

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)

5.6 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 90364P105

1

Names of Reporting Persons

Reade E. Griffith

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 25,500,201.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 25,500,201.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,500,201.00

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)

5.6 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: UiPath, Inc.
(b)	Address of issuer's principal executive offices: ONE VANDERBILT AVENUE, 60TH FLOOR, NEW YORK NY 10017
Item 2.
(a)	Name of person filing: This statement is filed by: i. Westbourne River Event Master Fund ("WREMF"), a Cayman Islands exempted company, with respect to the Class A common stock, par value $0.00001 per share (the "Shares"), of UiPath, Inc. (the "Company") directly held by it; ii. Tetragon Financial Group Limited ("Tetragon"), a Guernsey company, as the parent company of the General Partner (as defined below), with respect to the Shares directly held by it, WREMF and Blackwell Partners LLC - Series A (the "Managed Account"), one of the series of a limited liability company formed under the laws of the State of Delaware; iii. Tetragon Partners L.P. ("Tetragon Partners"), a Cayman Islands limited partnership, as the parent company of the US Investment Manager and the UK Investment Manager (each as defined below), with respect to the Shares directly held by WREMF and the Managed Account; iv. Tetragon Partners GP Ltd ("General Partner"), a Cayman Islands limited company, as the general partner of Tetragon Partners, with respect to the Shares directly held by WREMF and the Managed Account; v. Tetragon Partners US LP ("US Investment Manager"), a Delaware limited partnership, as the investment manager of WREMF, with respect to the Shares directly held by WREMF; vi. Tetragon Partners UK LLP ("UK Investment Manager"), a United Kingdom limited liability partnership, as the investment manager of WREMF and the Managed Account, with respect to the Shares directly held by WREMF and the Managed Account; vii. Tetragon Financial Management L.P. ("Tetragon Manager"), a Delaware limited partnership, as the investment manager of Tetragon, with respect to the Shares directly held by Tetragon, WREMF and the Managed Account; viii. Patrick G. G. Dear ("Mr. Dear"), as principal to US Investment Manager, UK Investment Manager and Tetragon Manager, with respect to the Shares directly held by Tetragon, WREMF and the Managed Account; and ix. Reade E. Griffith ("Mr. Griffith"), as principal to US Investment Manager, UK Investment Manager and Tetragon Manager, with respect to the Shares directly held by Tetragon, WREMF and the Managed Account.
(b)	Address or principal business office or, if none, residence: The address of the principal office of each of WREMF, Tetragon, Tetragon Partners, General Partner, UK Investment Manager, Messrs. Dear and Griffith is c/o Tetragon Partners UK LLP, 4 Sloane Terrace, London SW1X 9DQ, United Kingdom. The address of the principal office of each of Tetragon Manager and US Investment Manager is 399 Park Avenue, 22nd Floor, New York, New York 10022.
(c)	Citizenship: WREMF is a Cayman Islands exempted company. Tetragon is a Guernsey company. Tetragon Partners is a Cayman Islands limited partnership. The General Partner is a Cayman Islands limited company. Each of US Investment Manager and Tetragon Manager is a Delaware limited partnership. UK Investment Manager is a United Kingdom limited partnership. Messrs. Dear and Griffith are citizens of the United Kingdom.
(d)	Title of class of securities: Class A Common Stock, par value $0.00001 per share
(e)	CUSIP Number(s): 90364P105
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: The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference. The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 459,231,166 Shares outstanding as of March 20, 2026, as reported in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the Securities and Exchange Commission on March 25, 2026.
(b)	Percent of class: 5.6%
(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)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(ii) Shared power to vote or to direct the vote: The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iii) Sole power to dispose or to direct the disposition of: The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
	(iv) Shared power to dispose or to direct the disposition of: The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is 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.
	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. See Item 2(a).
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:

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.

Westbourne River Event Master Fund

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Financial Group Limited

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Partners L.P.

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Partners GP Ltd

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Partners US LP

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Partners UK LLP

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Tetragon Financial Management LP

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

Patrick G. G. Dear

Signature:	/s/ Patrick G.G. Dear
Name/Title:	Patrick G.G. Dear, Individually
Date:	04/01/2026

Reade E. Griffith

Signature:	/s/ Reade E. Griffith
Name/Title:	Reade E. Griffith, Authorized Signatory
Date:	04/01/2026

FAQ

What stake does Tetragon report in UiPath (PATH)?

Tetragon reports beneficial ownership of 25,500,201 shares, equal to 5.6% of Class A common stock. This percentage is calculated using 459,231,166 shares outstanding as of March 20, 2026, per the filing.

Who are the reporting persons behind the 5.6% position in PATH?

The filing is reported by Tetragon Financial Group and affiliated entities, including Tetragon Partners, investment managers, and principals Patrick G.G. Dear and Reade E. Griffith, each named as reporting persons for the disclosed holdings.

How much of UiPath does Westbourne River Event Master Fund own?

Westbourne River Event Master Fund is listed with beneficial ownership of 4,632,044 shares, representing approximately 1.0% of the Class A shares, as shown on the filing's cover-page rows.

What share count did the filing use to calculate percentages for PATH?

Percentages in the filing are calculated using an aggregate of 459,231,166 Shares outstanding as of March 20, 2026, a figure cited from UiPath's Annual Report on Form 10-K filed March 25, 2026.

Does the Schedule 13G indicate who controls voting or disposition rights for these PATH shares?

The filing shows shared voting power and shared dispositive power for the reporting entities (e.g., 25,500,201 shared for Tetragon). Sole voting and sole dispositive power are reported as 0.00 for those entities.