CLEARWATER PAPER CORP CLW
COM · Common Stock · CUSIP 18538R103
Pulp and paper product company
- SectorMaterials
- IndustryPaperboard Mills
- HeadquartersSpokane, WA
- Founded2008
- Websiteclearwaterpaper.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($1.7m this quarter). Holder counts are more reliable. Shares outstanding: 16.1m as of 2026-07-27, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $15.69. Options: 6 managers hold calls ($3.7m notional), 6 hold puts ($9.2m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 169 |
| Q4 2022 | 166 |
| Q1 2023 | 165 |
| Q2 2023 | 160 |
| Q3 2023 | 157 |
| Q4 2023 | 164 |
| Q1 2024 | 184 |
| Q2 2024 | 203 |
| Q3 2024 | 172 |
| Q4 2024 | 173 |
| Q1 2025 | 161 |
| Q2 2025 | 159 |
| Q3 2025 | 144 |
| Q4 2025 | 124 |
| Q1 2026 | 123 |
| Q2 2026 | 134 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 80 | 117 |
| Q4 2024 | 89 | 93 |
| Q1 2025 | 69 | 94 |
| Q2 2025 | 86 | 83 |
| Q3 2025 | 64 | 89 |
| Q4 2025 | 61 | 75 |
| Q1 2026 | 68 | 56 |
| Q2 2026 | 87 | 47 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $3.5m | $2.1m | 0.61 |
| Q4 2025 | $6.5m | $843.9k | 0.13 |
| Q1 2026 | $2.1m | $402.6k | 0.19 |
| Q2 2026 | $3.7m | $9.2m | 2.45 |
Biggest buyers
| GATE CITY CAPITAL MANAGEMENT, LLC | New | +938.5k |
| AQR CAPITAL MANAGEMENT LLC | Added | +242.5k |
| UBS Group AG | Added | +237.8k |
| Assenagon Asset Management S.A. | Added | +174.8k |
| JPMORGAN CHASE & CO | Added | +155.1k |
| Invenomic Capital Management LP | Added | +116.3k |
| Trexquant Investment LP | Added | +106.5k |
| Peapod Lane Capital LLC | Added | +75.4k |
| Quantinno Capital Management LP | Added | +71.7k |
| Jefferies Financial Group Inc. | New | +64.7k |
Biggest sellers
| DIMENSIONAL FUND ADVISORS LP | Reduced | -223.3k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -202.2k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -146.0k |
| WEDGE CAPITAL MANAGEMENT L L P/NC | Sold out | -128.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -106.2k |
| JANE STREET GROUP, LLC | Reduced | -104.1k |
| CRAMER ROSENTHAL MCGLYNN LLC | Reduced | -85.0k |
| CITADEL ADVISORS LLC | Reduced | -83.9k |
| STATE OF WISCONSIN INVESTMENT BOARD | Reduced | -53.5k |
| GSA CAPITAL PARTNERS LLP | Sold out | -48.8k |
Biggest calls
| Caption Management, LLC | New | $2.2m140.0k shares |
| JANE STREET GROUP, LLC | Added | $895.3k57.1k shares |
| IMC-Chicago, LLC | Added | $329.3k21.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $163.1k10.4k shares |
| Walleye Capital LLC | New | $150.5k9.6k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $15.7k1.0k shares |
Biggest puts
| Parallax Volatility Advisers, L.P. | New | $8.1m515.0k shares |
| JANE STREET GROUP, LLC | New | $319.9k20.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $305.8k19.5k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $285.4k18.2k shares |
| IMC-Chicago, LLC | New | $211.7k13.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.1k200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ 13G · institution +2.8 pts · filed 2026-02-13 | 8.6% |
| BlackRock, Inc. 13G · institution -1.5 pts · filed 2026-04-24 | 7.1% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution filed 2026-07-14 | 6.6% |
| GATE CITY CAPITAL MANAGEMENT, LLC 13G · institution new · filed 2026-08-14 | 5.8% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $101.4k | $101.4k |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 1 | $161.2k | $161.2k |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ 1.26% of their portfolio | 1.5m $24.1m | Added +14.1k |
| BlackRock, Inc. 0.00% of their portfolio | 1.3m $19.8m | Added +41.3k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 1.1m $16.7m | Reduced -223.3k |
| GATE CITY CAPITAL MANAGEMENT, LLC 3.81% of their portfolio | 938.5k $14.7m | New |
| READYSTATE ASSET MANAGEMENT LP 0.50% of their portfolio | 781.4k $12.3m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 694.9k $10.9m | Added +14.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 453.7k $7.3m | Added +155.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 420.8k $6.6m | Added +242.5k |
| Invenomic Capital Management LP 0.39% of their portfolio | 420.4k $6.6m | Added +116.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 404.3k $6.3m | Added +13.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 396.7k $6.2m | Reduced -106.2k |
| STATE STREET CORP 0.00% of their portfolio | 352.8k $5.5m | Added +11.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 297.4k $4.7m | Added +29.5k |
| Peapod Lane Capital LLC 3.07% of their portfolio | 289.9k $4.5m | Added +75.4k |
| Assenagon Asset Management S.A. 0.00% of their portfolio | 288.8k $4.5m | Added +174.8k |
| Trexquant Investment LP 0.03% of their portfolio | 268.4k $4.2m | Added +106.5k |
| UBS Group AG 0.00% of their portfolio | 267.5k $4.2m | Added +237.8k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 263.9k $4.1m | Added +41.0k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 261.9k $4.1m | Reduced -19.2k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 209.0k $3.3m | Reduced -9.2k |
| MORGAN STANLEY 0.00% of their portfolio | 205.4k $3.2m | Added +17.5k |
| Man Group plc 0.01% of their portfolio | 190.4k $3.0m | Added +33.0k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 182.5k $2.9m | Reduced -47.9k |
| CRAMER ROSENTHAL MCGLYNN LLC 0.14% of their portfolio | 181.2k $2.8m | Reduced -85.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 174.6k $2.7m | Added +34.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 137.7k $2.2m | Added +7.7k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 137.6k $2.2m | Added +3.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 127.8k $2.0m | Reduced -1.1k |
| Quantinno Capital Management LP 0.00% of their portfolio | 123.2k $1.9m | Added +71.7k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 109.9k $1.7m | Added +11.9k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 106.7k $1.7m | Added +5.5k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 100.2k $1.6m | Added +58.3k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 93.5k $1.5m | Reduced -146.0k |
| Nuveen, LLC 0.00% of their portfolio | 92.9k $1.5m | Added +51.5k |
| Empowered Funds, LLC 0.01% of their portfolio | 83.1k $1.3m | Added +3.0k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 77.7k $1.2m | Added +60.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 76.3k $1.2m | Added +13.3k |
| Numerai GP LLC 0.10% of their portfolio | 74.8k $1.2m | Added +10.6k |
| Jefferies Financial Group Inc. 0.01% of their portfolio | 64.7k $1.0m | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 54.1k $848.0k | Reduced -6.9k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 53.0k $831.0k | Added +3.3k |
| Seven Six Capital Management, LLC 0.65% of their portfolio | 45.2k $709.2k | Reduced -34.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 45.1k $707.7k | Reduced -2.7k |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 41.1k $643.8k | New |
| Susquehanna Portfolio Strategies, LLC 0.01% of their portfolio | 40.9k $641.7k | Added +18.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 40.6k $637.0k | Added +11.7k |
| Marquette Asset Management, LLC 0.08% of their portfolio | 39.0k $611.5k | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 38.4k $602.7k | Added +16.9k |
| Invesco Ltd. 0.00% of their portfolio | 38.0k $595.4k | Reduced -8.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 37.7k $590.9k | Reduced -1.9k |
| SIMPLEX TRADING, LLC 0.01% of their portfolio | 35.1k $550.6k | Added +13.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 34.9k $547.2k | Reduced -202.2k |
| D.A. DAVIDSON & CO. 0.00% of their portfolio | 34.5k $541.0k | Reduced -400 |
| STRS OHIO 0.00% of their portfolio | 34.4k $539.4k | Added +4.6k |
| XTX Topco Ltd 0.01% of their portfolio | 34.1k $534.4k | Reduced -1.4k |
| WOODMONT INVESTMENT COUNSEL LLC 0.02% of their portfolio | 28.7k $449.9k | Reduced -8.1k |
| Jefferson Bridge Capital, LLC 0.38% of their portfolio | 27.7k $435.0k | Unchanged |
| Engineers Gate Manager LP 0.01% of their portfolio | 26.8k $420.9k | Reduced -14.3k |
| TURTLE CREEK ASSET MANAGEMENT INC. 0.02% of their portfolio | 26.0k $407.7k | Added +10.0k |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 25.6k $401.3k | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 25.5k $400.4k | Reduced -83.9k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 23.4k $366.1k | Added +487 |
| Corient Private Wealth LP 0.00% of their portfolio | 23.1k $362.2k | Added +542 |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 20.8k $325.8k | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 20.7k $297.8k | Added +2.6k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 20.5k $322.0k | Reduced -1.0k |
| Odyssean, LLC 0.05% of their portfolio | 18.7k $292.9k | New |
| BARCLAYS PLC 0.00% of their portfolio | 17.8k $278.9k | Reduced -6.1k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 17.8k $278.7k | Reduced -9.9k |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 15.9k $249.2k | Added +1.9k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 15.5k $242.3k | Added +10.5k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 15.2k $239.0k | Reduced -53.5k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 15.2k $237.6k | Added +475 |
| Inscription Capital, LLC 0.02% of their portfolio | 14.1k $221.7k | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 13.7k $215.3k | Added +7.4k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 13.3k $210.1k | Reduced -6.3k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 13.1k $204.7k | Reduced -104.1k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 12.5k $197.3k | New |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 11.2k $176.4k | Added +249 |
| Quadrature Capital Ltd 0.00% of their portfolio | 10.4k $163.7k | New |
| Significant Wealth Partners LLC 0.17% of their portfolio | 10.2k $160.2k | New |
| IMC-Chicago, LLC 0.00% of their portfolio | 10.1k $157.7k | Reduced -3.4k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 9.3k $146.0k | Unchanged |
| Caption Management, LLC 0.01% of their portfolio | 9.1k $142.9k | New |
| CITIGROUP INC 0.00% of their portfolio | 7.3k $114.6k | Added +6.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 7.3k $114.3k | Reduced -132 |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 6.4k $100.8k | Unchanged |
| Arax Advisory Partners 0.00% of their portfolio | 6.1k $95.4k | New |
| Versant Capital Management, Inc 0.01% of their portfolio | 4.6k $72.6k | Added +965 |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 4.5k $70.5k | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 4.2k $66.5k | Unchanged |
| FMR LLC 0.00% of their portfolio | 3.6k $56.9k | Added +2.7k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 3.4k $52.8k | Added +3.3k |
| Investors Research Corp 0.01% of their portfolio | 3.1k $49.4k | Unchanged |
| SUMMIT SECURITIES GROUP LLC 0.01% of their portfolio | 3.1k $48.0k | New |
| Walleye Capital LLC 0.00% of their portfolio | 2.2k $34.5k | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 2.2k $35.0k | Added +1.6k |
| Quantbot Technologies LP 0.00% of their portfolio | 1.7k $27.1k | New |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 1.7k $25.9k | Unchanged |
| GROUP ONE TRADING LLC 0.00% of their portfolio | 1.6k $25.2k | Reduced -2.0k |