Springwater Special Situations (SWSS)

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)	38.81 k	38.81 k	38.81 k	38.81 k	38.81 k	38.81 k
Cash burn (monthly)	(no burn)	(no burn)	78.31 k	(no burn)	34.35 k	81.39 k
Cash used (since last report)	n/a	n/a	1.16 mm	n/a	508.05 k	1.20 mm
Cash remaining	n/a	n/a	-1.12 mm	n/a	-469.24 k	-1.17 mm
Runway (months of cash)	n/a	n/a	-14.3	n/a	-13.7	-14.3

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Financial data from company earnings reports.

Institutional ownership, Q2 2023

SWSS institutional ownership history Ownership history

88.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	32	17	+88.2%
Opened positions	18	3	+500.0%
Closed positions	3	39	-92.3%
Increased positions	2	4	-50.0%
Reduced positions	5	6	-16.7%

13F shares	Current	Prev Q	Change
Total value	18.29 bn	4.28 bn	+327.6%
Total shares	6.19 mm	3.32 mm	+86.6%
Total puts	743.49 k	0.00	NEW
Total calls	971.33 k	742.50 k	+30.8%
Total put/call ratio	0.8	–	–

Largest owners	Shares	Value	Change
Polar Asset Management Partners	1.28 mm	$7.46 bn	NEW
Alberta Investment Management	1.24 mm	$5.18 bn	NEW
Atalaya Capital Management	742.50 k	$14.85 mm	0.0%
K.J. Harrison & Partners	490.14 k	$6.84 mm	-51.7%
EHP Funds	460.10 k	$8.76 mm	NEW
Gritstone Asset Management	384.45 k	$7.42 mm	0.0%
Calamos Advisors	300.29 k	$6.52 mm	0.0%
Cowen And	173.39 k	$837.01 mm	+87.6%
CNH Partners	164.62 k	$1.19 bn	NEW
Radcliffe Capital Management	149.80 k	$2.85 mm	NEW

Largest transactions	Shares	Bought/sold	Change
Polar Asset Management Partners	1.28 mm	+1.28 mm	NEW
Alberta Investment Management	1.24 mm	+1.24 mm	NEW
K.J. Harrison & Partners	490.14 k	-524.24 k	-51.7%
EHP Funds	460.10 k	+460.10 k	NEW
Dark Forest Capital Management	0.00	-179.92 k	EXIT
CNH Partners	164.62 k	+164.62 k	NEW
Radcliffe Capital Management	149.80 k	+149.80 k	NEW
Atlas Merchant Capital	100.00 k	+100.00 k	NEW
Westchester Capital Management	98.00 k	+98.00 k	NEW
Cowen And	173.39 k	+80.98 k	+87.6%

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.