T. Rowe Price discloses 13.1% Concentra stake in 13G/A filing (CON)

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. filed an amended Schedule 13G reporting a significant ownership stake in Concentra Group Holdings Par common stock. As of 12/31/2025, it beneficially owned 16,843,425 shares, representing 13.1% of the class, with sole voting and dispositive power over essentially all of these shares.

The filing explains that T. Rowe Price acts as an investment adviser and that its clients, not the adviser, ultimately receive dividends and sale proceeds. The T. Rowe Price Mid-Cap Value Fund holds 7,546,942 shares, or 5.9% of the class. The stake is certified as held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

CONCENTRA GROUP HOLDINGS PAR

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

20603L102

(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. 20603L102

1

Names of Reporting Persons

T. Rowe Price Associates, 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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 16,684,137.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 16,843,370.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,843,425.00

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)

13.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CONCENTRA GROUP HOLDINGS PAR
(b)	Address of issuer's principal executive offices: CO SELECT MEDICAL CORPORATION, 4714 GETTYSBURG RD., P.O. BOX 2034, MECHANICSBURG, PA, 17055
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 20603L102
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: 16843425
(b)	Percent of class: 13.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 16684137
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 16843370
	(iv) Shared power to dispose or to direct the disposition of: 0
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. Ownership of More than Five Percent on Behalf of Another Person (1) Price Associates does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Associates serves as investment adviser. Any and all discretionary authority which has been delegated to Price Associates may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Associates which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Associates. (2) [T. ROWE PRICE MID-CAP VALUE FUND ]: T. ROWE PRICE MID-CAP VALUE FUND, of which T. Rowe Price Associates, Inc. is the investment adviser, holds the securities reported herein in their investment portfolio managed by T. Rowe Price Associates, Inc. and such funds have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities that they hold. T. ROWE PRICE MID-CAP VALUE FUND has an interest in 7,546,942 of the class reported herein representing 5.9% of the class.
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 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. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What ownership stake in CON does T. Rowe Price report on this Schedule 13G/A?

T. Rowe Price Associates reports beneficial ownership of 16,843,425 Concentra Group Holdings Par shares, equal to 13.1% of the common stock. This stake reflects shares over which it has sole voting and dispositive power as an investment adviser for its clients.

Which T. Rowe Price fund is mentioned in the CON Schedule 13G/A filing?

The filing highlights the T. Rowe Price Mid-Cap Value Fund, which holds 7,546,942 shares of Concentra Group Holdings Par. That position represents 5.9% of the common stock class and is managed by T. Rowe Price Associates as investment adviser.

Does T. Rowe Price seek control of CON according to this Schedule 13G/A?

No. T. Rowe Price certifies the securities were acquired and are held in the ordinary course of business and not for changing or influencing control of Concentra Group Holdings Par. The filing explicitly disclaims any control-oriented purpose for this ownership stake.

Who ultimately receives dividends and sale proceeds from CON shares held by T. Rowe Price?

According to the filing, clients and their custodians ultimately receive dividends and sale proceeds from the Concentra Group Holdings Par shares. T. Rowe Price Associates acts only as investment adviser, and any discretionary authority granted to it can be revoked by clients at any time.

What voting and dispositive powers over CON stock does T. Rowe Price report?

T. Rowe Price reports sole voting power over 16,684,137 Concentra Group Holdings Par shares and sole dispositive power over 16,843,370 shares. It reports no shared voting or dispositive power over any of the issuer’s common stock.

On what date is T. Rowe Price’s CON ownership information in this filing measured?

The ownership information is measured as of December 31, 2025. The Schedule 13G/A specifies this date as the event requiring the filing, tying the reported share counts and the 13.1% ownership percentage to that point in time.