Several models attempt to account for the bulk properties of water by assuming that they are dominated by cluster formation within the liquid. According to the quantum cluster equilibrium (QCE) theory of liquids, n=8 clusters dominate the liquid water bulk phase, followed by n=5 and n=6 clusters. Near the triple point, the presence of an n=24 cluster is invoked. In another model, bulk water is built up from a mixture of hexamer and pentamer rings containing cavities capable of enclosing small solutes. In yet another model an equilibrium exists between a cubic water octamer and two cyclic tetramers. However, no model yet has reproduced the experimentally-observed density maximum of water as a function of temperature.