SCHEDULE: WCAS Entities Reduce Clearwater Analytics Stake to 1.6%
Beneficial Ownership Report
WCAS entities have reduced their beneficial ownership in Clearwater Analytics Holdings, Inc. to 1.6%, falling below the 5% threshold for Section 13 reporting.
Summary
- WCAS XIII Carbon Analytics Acquisition, L.P., WCAS GP CW LLC, WCAS XIII Carbon Investors, L.P., and WCAS XIII Associates LLC (collectively, 'Reporting Persons') now beneficially own 4,820,856 shares of Clearwater Analytics Holdings, Inc. Class A common stock.
- This aggregate amount represents 1.6% of the Issuer's Class A common stock outstanding.
- The reported percentage is calculated based on 292,445,162 Class A Shares outstanding as of August 4, 2025, which includes 287,938,740 Class A Shares and 4,506,422 Class A Shares issuable from Class B Shares and LLC Interests.
- The holdings comprise 2,069,714 Class A Shares and 2,751,142 Class A Shares issuable upon conversion of Class B Shares and LLC Interests.
- As a result of owning less than five percent of the Issuer's outstanding common stock, the Reporting Persons are no longer subject to Section 13 reporting requirements.
Sentiment
Score: 5
Explanation: Neutral. This is a factual disclosure of a change in beneficial ownership, with no direct positive or negative implications for the company's operational performance or financial health.
Negatives
- The reduction in beneficial ownership below 5% by the WCAS entities means less detailed public disclosure regarding their future holdings and transactions in Clearwater Analytics.
Future Outlook
The filing indicates that the Reporting Persons are no longer subject to Section 13 reporting requirements due to their ownership falling below the 5% threshold, implying reduced future disclosure from this group.
Industry Context
This filing is a routine disclosure of a change in significant ownership, common in the financial technology and software sector as institutional investors adjust their portfolios. It does not provide insights into broader industry trends or competitive dynamics beyond the specific ownership stake.
Stakeholder Impact
- Shareholders: Reduced transparency regarding future changes in the WCAS entities' holdings in Clearwater Analytics due to the cessation of Section 13 reporting.
Next Steps
- The Reporting Persons are no longer subject to Section 13 reporting requirements for Clearwater Analytics Holdings, Inc. as their beneficial ownership is below 5%.
Key Dates
| Date | Description |
|---|---|
| 2025-02-14 | Date of previous Schedule 13G filing, referenced for Exhibit B Joint Filing Agreement. |
| 2025-06-30 | Date of event which required the filing of this statement (ownership change). |
| 2025-08-04 | Date as of which Class A Shares outstanding and Class B Shares/LLC Interests outstanding were reported on the Issuer's Form 10-Q. |
| 2025-08-06 | Date the Issuer filed its Form 10-Q with the SEC. |
| 2025-08-13 | Signature date of the Schedule 13G Amendment No. 4 filing. |
Keywords
Clearwater Analytics, WCAS, Schedule 13G, Beneficial Ownership, Class A Common Stock, SEC Filing, Institutional Investor, Ownership Disclosure, Financial Software
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