What is the 13F Pro Quality Score for CWAN?

13F Pro ranks Clearwater Analytics Holdings, Inc. (CWAN) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CWAN's current score at https://13fpro.ai/research/CWAN (free sign-up required for the full ranking).

Which hedge funds own the most CWAN stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of CWAN include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, UBS Group AG. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/CWAN as soon as new 13F filings post.

Where does 13F Pro source CWAN data?

All Clearwater Analytics Holdings, Inc. fundamentals and ownership data come directly from SEC EDGAR. Clearwater Analytics Holdings, Inc. files with the SEC under CIK 1866368. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CWAN in?

Clearwater Analytics Holdings, Inc. (CWAN) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

How often is CWAN research updated on 13F Pro?

CWAN's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Clearwater Analytics Holdings, Inc.(CWAN)Stock Analysis

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SEC EDGAR: CIK 1866368 CWAN stock profile & AI dashboard →

13F Pro Quality Score

50.2/100

Rank #1,468 of 2,879 stocks

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

90.7/100

Profitability

23.6/100

Balance Sheet

32.0/100

Earnings Quality

30.0/100

Free Cash Flow

75.0/100

Institutional Flow

55.2/100

Revenue Scale

43.7/100

Dilution Risk

10.6/100

CWAN Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Clearwater Analytics Holdings, Inc. (CWAN), a Technology sector company. 13F Pro's AI-powered ranking engine scores CWAN at 50.2/100 on a 32-signal composite quality model, placing it at rank #1,468 of 2,879 stocks — the bottom half of the AI-ranked universe. CWAN scores in the top quartile across revenue growth (90.7), free cash flow (75.0). Areas of concern include profitability (23.6) and earnings quality (30.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 10.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Clearwater Analytics Holdings, Inc. reports quarterly revenue of $221.2M, net income of $-2.8M, free cash flow of $11.2M. Top institutional holders of CWAN by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, UBS Group AG, based on the most recent SEC filings. CWAN trades on the NYSE exchange and files with the SEC under CIK 1866368. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CWAN daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Clearwater Analytics Holdings, Inc. directly from SEC EDGAR. Clearwater Analytics Holdings, Inc.'s 13F Pro composite quality score has ranged between 46 and 64 since 2024, currently 50.2 — an improving long-term trajectory across 18 quarterly and live scoring snapshots.

✦

Fun facts about Clearwater Analytics Holdings, Inc.

Quirks, history, and lore behind CWAN — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. enterprise software company · mid-cap · listed on the NYSE · headquartered in Boise, Idaho — yes, Boise.
2
The Numbers
Annual revenue in the low hundreds of millions, growing steadily on a subscription SaaS model — the kind of recurring revenue Wall Street loves to overpay for.
3
The History
Founded in the early 2000s, it went public around 2021 and was backed by Welsh, Carson, Anderson & Stowe, a major healthcare and tech private-equity firm.
4
The Secret
Its clients are institutional investors — insurers, asset managers, pension funds — who let it crunch trillions of dollars in investment portfolio data so they don't have to.
5
The Lore
It processes over $7 trillion in assets on its platform, which means it quietly touches a chunk of the world's wealth from a city most people associate with potatoes.
6
The Giveaway
Cloud-based investment accounting and analytics platform for the buy side — if your insurance company knows what its bond portfolio is worth today, there's a good chance this Boise fintech told it so.

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Revenue

Q1 2026

$221.2M

Net Income

Q1 2026

$-2.8M

Free Cash Flow

Q1 2026

$11.2M

ROIC

Q1 2026

0.3%

D/E Ratio

Q1 2026

0.40

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+61.9% YoY

$731.4MFY 2025

FY22 $303.4MFY23 $368.2MFY24 $451.8MFY25 $731.4M

Net Income

-109.1% YoY

$-38.8MFY 2025

FY22 $-8.0MFY23 $-21.6MFY24 $424.4MFY25 $-38.8M

Operating Income

-162.8% YoY

$-7.7MFY 2025

FY22 $5.1MFY23 $-16.7MFY24 $12.2MFY25 $-7.7M

EPS (Diluted)

-108.3% YoY

$-0.14FY 2025

FY22 $-0.04FY23 $-0.11FY24 $1.68FY25 $-0.14

Total Assets

+159.2% YoY

$3.03BFY 2025

FY22 $481.9MFY23 $558.7MFY24 $1.17BFY25 $3.03B

Total Debt

+1817.8% YoY

$830.6MFY 2025

FY22 $51.6MFY23 $46.1MFY24 $43.3MFY25 $830.6M

Op. Cash Flow

+136.7% YoY

$175.9MFY 2025

FY22 $58.0MFY23 $84.6MFY24 $74.3MFY25 $175.9M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$731.4M +61.9%	$451.8M +22.7%	$368.2M +21.3%	$303.4M +20.4%	$252.0M +24.0%	$203.2M
Net Income	$-38.8M -109.1%	$424.4M +2062.3%	$-21.6M -171.5%	$-8.0M +3.0%	$-8.2M	—
Operating Income	$-7.7M -162.8%	$12.2M +173.1%	$-16.7M -427.2%	$5.1M -82.0%	$28.5M +239.4%	$-20.4M
EPS (Diluted)	$-0.14 -108.3%	$1.68 +1627.3%	$-0.11 -175.0%	$-0.04 +20.0%	$-0.05	—
Total Assets	$3.03B +159.2%	$1.17B +109.3%	$558.7M +15.9%	$481.9M +40.0%	$344.4M +198.0%	$115.6M
Total Debt	$830.6M +1817.8%	$43.3M -6.0%	$46.1M -10.7%	$51.6M -5.1%	$54.3M	—
Operating Cash Flow	$175.9M +136.7%	$74.3M -12.2%	$84.6M +45.9%	$58.0M +1627.4%	$3.4M +151.8%	$-6.5M

AI Insight: CWAN Financial Trends

Revenue surged 74% year-over-year in Q1 2026 but operating cash flow declined sharply from $55M to $18M quarter-over-quarter.

• Revenue accelerated from $127M in Q1 2025 to $221M in Q1 2026, representing 74% year-over-year growth.

• Total debt increased significantly from zero to $814M by Q1 2026, with initial debt of $884M in Q2 2025.

• Equity base expanded from $381M in Q2 2024 to $2,050M in Q1 2026, more than quintupling over seven quarters.

⚠ Operating cash flow dropped from $55M in Q4 2025 to $18M in Q1 2026, the lowest level since Q4 2024.

⚠ Net income remained negative in five of the last six quarters despite strong revenue growth trajectory.

AI Insight: CWAN Ratio Trends

Operating margin turned positive to 4.1% in Q1 2026 after two consecutive negative quarters, but profitability remains elusive with -1.2% net margin.

• Operating margin improved from -3.1% in Q4 2025 to 4.1% in Q1 2026, breaking two-quarter decline streak.

• Net profit margin remained negative at -1.2% in Q1 2026, though improved from -5.5% in Q4 2025.

• ROIC recovered to 1.3% in Q1 2026 from -0.9% in Q4 2025, showing operational efficiency gains.

⚠ TTM operating margin remains negative at -0.7% despite Q1 2026 improvement, indicating sustained profitability challenges.

⚠ Debt-to-equity ratio stable around 0.40-0.45 range but company still generating negative returns on equity.

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Available Research

13F Pro tracks comprehensive data for Clearwater Analytics Holdings, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CWAN

BlackRock, Inc.
$668.6M28,270,108 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$432.6M18,293,833 sh
UBS Group AG
$348.5M14,735,354 sh
HBK INVESTMENTS L P
$328.1M13,875,000 sh
VANGUARD CAPITAL MANAGEMENT LLC
$309.8M13,097,435 sh
FIL Ltd
$278.5M11,774,123 sh
Pentwater Capital Management LP
$269.3M11,385,000 sh
MILLENNIUM MANAGEMENT LLC
$219.8M9,294,096 sh
CITADEL ADVISORS LLC
$199.6M8,441,416 sh
BALYASNY ASSET MANAGEMENT L.P.
$173.0M7,313,635 sh

Fund	Value	Shares
BlackRock, Inc.	$668.6M	28,270,108
VANGUARD PORTFOLIO MANAGEMENT LLC	$432.6M	18,293,833
UBS Group AG	$348.5M	14,735,354
HBK INVESTMENTS L P	$328.1M	13,875,000
VANGUARD CAPITAL MANAGEMENT LLC	$309.8M	13,097,435
FIL Ltd	$278.5M	11,774,123
Pentwater Capital Management LP	$269.3M	11,385,000
MILLENNIUM MANAGEMENT LLC	$219.8M	9,294,096
CITADEL ADVISORS LLC	$199.6M	8,441,416
BALYASNY ASSET MANAGEMENT L.P.	$173.0M	7,313,635

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Is CWAN a good stock to buy?

13F Pro's AI-powered analysis of Clearwater Analytics Holdings, Inc. (CWAN) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CWAN are available on the CWAN stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CWAN?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CWAN. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Clearwater Analytics Holdings, Inc.'s investment landscape.