<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0609</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2026-07-07</periodOfReport>

    <dateOfOriginalSubmission>2026-07-08</dateOfOriginalSubmission>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000766829</issuerCik>
        <issuerName>H2O AMERICA</issuerName>
        <issuerTradingSymbol>HTO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001924953</rptOwnerCik>
            <rptOwnerName>ATLAS Infrastructure Partners (UK) Ltd.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1ST FLOOR WEST</rptOwnerStreet1>
            <rptOwnerStreet2>1-3 COLLEGE HILL</rptOwnerStreet2>
            <rptOwnerCity>LONDON</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>X0</rptOwnerCountry>
            <rptOwnerZipCode>EC4R 2RA</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>N/A</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002131211</rptOwnerCik>
            <rptOwnerName>GIP ATLAS Holdings Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>true</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1ST FLOOR WEST, 1-3 COLLEGE HILL</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LONDON</rptOwnerCity>
            <rptOwnerNonUSStateTerritory></rptOwnerNonUSStateTerritory>
            <rptOwnerCountry>X0</rptOwnerCountry>
            <rptOwnerZipCode>EC4R 2RA</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>N/A</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <remarks>The purpose of this amendment is to reflect that the Reporting Persons do not have, and at no time had, beneficial ownership of the Issuer's common stock (the &quot;Shares&quot;) due to the application of an exemption under Rule 16a-1(a)(1) under the Securities Exchange Act of 1934 (the &quot;Exchange Act&quot;). Atlas Infrastructure Partners (UK) Ltd. (the &quot;Adviser&quot;), which is registered as an investment adviser under Section 203 of the Investment Advisers Act of 1940, does not have beneficial ownership of the Shares pursuant to Rule 16a-1(a)(1)(v). The Adviser did not acquire any Shares with the purpose or effect of changing or influencing control of the Issuer or engaging in any arrangement subject to Rule 13d-3(b). Any Shares held by the Adviser are held for the benefit of third-party investors. GIP ATLAS Holdings Ltd. is the sole owner of the Adviser but does not exercise investment discretion with respect to the entity. As a result, the Reporting Persons were not obligated to file the Form 4 pursuant to Section 16(a) of the Exchange Act and the transactions reported therein were not matchable pursuant to Section 16(b) of the Exchange Act.</remarks>

    <ownerSignature>
        <signatureName>/s/ Toni Rizk</signatureName>
        <signatureDate>2026-08-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
