Clearwater Paper (CLW)

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	79.60 mm	79.60 mm	79.60 mm	79.60 mm	79.60 mm	79.60 mm
Cash burn (monthly)	(no burn)	(no burn)	5.20 mm	491.67 k	11.70 mm	(no burn)
Cash used (since last report)	n/a	n/a	10.76 mm	1.02 mm	24.21 mm	n/a
Cash remaining	n/a	n/a	68.84 mm	78.58 mm	55.39 mm	n/a
Runway (months of cash)	n/a	n/a	13.2	159.8	4.7	n/a

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Financial data from company earnings reports.

Institutional ownership, Q4 2024

CLW institutional ownership history Ownership history

89.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	172	171	+0.6%
Opened positions	45	26	+73.1%
Closed positions	44	59	-25.4%
Increased positions	54	55	-1.8%
Reduced positions	51	59	-13.6%

13F shares	Current	Prev Q	Change
Total value	422.49 bn	437.22 bn	-3.4%
Total shares	14.48 mm	15.68 mm	-7.6%
Total puts	250.10 k	48.30 k	+417.8%
Total calls	1.10 mm	209.20 k	+426.2%
Total put/call ratio	0.2	0.2	-1.6%

Largest owners	Shares	Value	Change
BlackRock	1.73 mm	$51.64 bn	-40.5%
Dimensional Fund Advisors	1.30 mm	$38.59 bn	-5.0%
Vanguard	1.12 mm	$33.39 bn	-8.5%
American Century Companies	637.11 k	$18.97 bn	+7.3%
Millennium Management	429.26 k	$12.78 bn	+1102.7%
STT State Street	408.90 k	$12.17 bn	-37.1%
D. E. Shaw & Co.	388.34 k	$11.56 bn	+101.4%
Geode Capital Management	386.98 k	$11.52 bn	+1.3%
Readystate Asset Management	370.72 k	$11.04 bn	+434.9%
UBS UBS	358.14 k	$10.66 bn	+3111.1%

Largest transactions	Shares	Bought/sold	Change
Pacer Advisors	0.00	-1.89 mm	EXIT
BlackRock	1.73 mm	-1.18 mm	-40.5%
Millennium Management	429.26 k	+393.57 k	+1102.7%
IVZ Invesco	67.69 k	-388.28 k	-85.2%
UBS UBS	358.14 k	+346.98 k	+3111.1%
Readystate Asset Management	370.72 k	+301.42 k	+434.9%
STT State Street	408.90 k	-240.98 k	-37.1%
Jane Street	241.15 k	+225.00 k	+1393.4%
Susquehanna International	229.62 k	+211.59 k	+1173.3%
D. E. Shaw & Co.	388.34 k	+195.49 k	+101.4%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

CLW insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
24 Feb 25	Mathew D Passarello	Common Stock	Grant	Acquire A	No	No	0	4,732	0.00	16,540
24 Feb 25	Steve M Bowden	Common Stock	Payment of exercise	Dispose F	No	No	27.3	4,316	117.83 k	78,898
24 Feb 25	Steve M Bowden	Common Stock	Grant	Acquire A	No	No	27.3	14,798	403.99 k	83,214
24 Feb 25	Steve M Bowden	Common Stock	Grant	Acquire A	No	No	0	6,029	0.00	68,416
24 Feb 25	Kari G. Moyes	Common Stock	Payment of exercise	Dispose F	No	No	27.3	3,586	97.90 k	86,577
24 Feb 25	Kari G. Moyes	Common Stock	Grant	Acquire A	No	No	27.3	13,890	379.20 k	90,163
24 Feb 25	Kari G. Moyes	Common Stock	Grant	Acquire A	No	No	0	5,666	0.00	76,273
24 Feb 25	Michael J Urlick	Common Stock	Payment of exercise	Dispose F	No	No	27.3	3,805	103.88 k	32,596
24 Feb 25	Michael J Urlick	Common Stock	Grant	Acquire A	No	No	27.3	11,773	321.40 k	36,401
24 Feb 25	Michael J Urlick	Common Stock	Grant	Acquire A	No	No	0	5,705	0.00	24,628