Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Clearwater Paper Corp (CLW)

123 + Investors. Track Smart Money conviction in CLW. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -5
Streak
3Q ▼
Buyers last Q
54%

Smart Money Signals — CLW

Based on 123 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their CLW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻

Below peak — only 61% of 3.0Y high

61% of all-time peak
Only 123 funds hold CLW today versus a peak of 201 funds at 2024 Q2 — just 61% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
📉

Outflows — 23% fewer funds vs a year ago

fund count last 6Q
37 fewer hedge funds hold CLW compared to a year ago (-23% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 54% buying

72 buying62 selling
Last quarter: 72 funds bought or added vs 62 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~20 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 32 → 21 → 15 → 20. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

67% of holders stayed for 2+ years

■ 67% conviction (2yr+) ■ 20% medium ■ 13% new
83 out of 123 hedge funds have held CLW for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -8%, value -24%

Value
-24%
Shares
-7%
Last quarter: funds added -8% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊

Peak discovery — momentum slowing

27 → 32 → 21 → 15 → 20 new funds/Q
New funds entering each quarter: 32 → 21 → 15 → 20. CLW is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 75% veterans vs 14% newcomers

■ 75% veterans ■ 11% 1-2yr ■ 14% new
Entry-cohort mix of 127 holders: 95 (75%) are 2+ year veterans, 14 entered 1–2 years ago, and 18 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 38% AUM from major funds

38% from top-100 AUM funds
34 of 122 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
1.4
out of 10
Low Exit Risk
Exit risk score 1.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — CLW

In 2026 Q1, 72 hedge funds were net buyers of CLW (20 opened a new position, 52 added to an existing one), while 62 reduced or exited (37 trimmed, 25 sold completely) — a 54% buyer ratio, indicating a slight buying edge. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 38% of total institutional value in CLW is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -5 funds (more exits than new entries). Total institutional holders: 123.

Hedge Fund Ownership: CLW

How many hedge funds hold CLW — quarterly history vs. share price
Quarterly hedge fund ownership of CLW vs. share price

Market Analysis: CLW

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: CLW

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Clearwater Paper Corp (CLW) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much CLW has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 77d ago
CLW
nan%
SPY
+15.9%

CLW outperformed SPY by nan% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
CLW
nan%
SPY
+2.0%

Since the filing became public, CLW outperformed SPY by nan% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

15 top-rated funds 1 high-conviction
Consensus
5.2
/ 10
breadth
×
Elite
1.0
/ 10
conviction
Hedge Fund Positioning: CLW
123 + Investors

Track Smart Money conviction in CLW. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 123 128 -3.91%
13F Shares 13M 14M -7.7%
Total Value $185M $244M -24.07%
New Positions 20 15 +5
Increased Positions 52 50 +2
Closed Positions 25 33 -8
Reduced Positions 34 47 -13
Total Calls 4 5 -20.0%
Total Puts 1 1 -
PUT/CALL Ratio 0.25 0.2 Bullish

Statistics: CLW

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

123 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in CLW. Verified SEC 13F-HR filings.

QUARTER:
Top 25 CLW holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Peapod Lane Capital LLC 2.51% 214,521 $3.1M
2 Seven Six Capital Management, LLC 1.23% 79,427 $1.1M
3 Southeastern Asset Management Inc/Tn/ 1.08% 1,525,491 $21.9M
4 Readystate Asset Management LP 0.50% 781,384 $11.2M
5 Jefferson Bridge Capital, LLC 0.40% 27,740 $399K
6 Cramer Rosenthal Mcglynn LLC 0.28% 266,259 $3.8M
7 Invenomic Capital Management LP 0.20% 304,150 $4.4M
8 Numerai GP LLC 0.09% 64,135 $922K
9 Nebula Research & Development LLC 0.06% 26,106 $711K
10 AlphaQuest LLC 0.06% 59,549 $1.0M
11 Bridgeway Capital Management, LLC 0.04% 134,601 $1.9M
12 Mangrove Partners IM, LLC 0.04% 32,562 $468K
13 Wedge Capital Management L L P/Nc 0.03% 128,150 $1.8M
14 Woodmont Investment Counsel LLC 0.03% 36,830 $530K
15 Jacobs Levy Equity Management, Inc 0.02% 281,048 $4.0M
16 Trexquant Investment LP 0.02% 161,862 $2.3M
17 Laurion Capital Management LP 0.01% 20,000 $288K
18 Turtle Creek Asset Management Inc. 0.01% 28,700 $413K
19 Jump Financial, LLC 0.01% 46,531 $669K
20 XTX Topco Ltd 0.01% 35,438 $510K
21 Investors Research Corp 0.01% 3,150 $45K
22 Capstone Financial Advisors, Inc. 0.01% 10,000 $144K
23 Engineers Gate Manager LP 0.01% 41,187 $592K
24 Empowered Funds, LLC 0.01% 80,101 $1.2M
25 Renaissance Technologies LLC 0.01% 237,115 $3.4M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Clearwater Paper Corp (CLW)

What does the Smart Money Trend signal show for CLW?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their CLW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for CLW?

Slight buying edge — 54% buying: Last quarter: 72 funds bought or added vs 62 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for CLW holders?

Strong quality — 38% AUM from major funds: 34 of 122 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held CLW?

67% of holders stayed for 2+ years: 83 out of 123 hedge funds have held CLW for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Clearwater Paper Corp (CLW) following the 2026 Q1 hedge fund 13F filings?

As of today, CLW has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.0% for the SPY sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), CLW has gained nan% vs +15.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →