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374Water

SCWO on Nasdaq. Market value $52m.

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Who owns it

None of the long-term investors we follow own it. 44 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

2 investors own more than 5%; 1 of them is pushing for change.

  • Yaacov Nagar
    10.2%−8.8 pts
    Since 30 April 2026
  • Richard H. Davis
    Activist
    at least 2.4%0.0 pts
    (filed with 9 related holders)
    Since 22 January 2026
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: As disclosed in Amendment No. 2 to the Schedule 13D filed by Yaacov (Kobe) Nagar on January 23, 2026, Mr. Nagar was no longer a member of the group as of January 22, 2026. On February 8, 2026, the Issuer…

    Read the filing
  • Richard H. Davis
    Activist
    Wants board seats
    Sold down below 5%
    Since 14 December 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Letter Agreement On December 14, 2025, Mr. Nagar entered into a letter agreement with the Issuer (the "Agreement"). Pursuant to the Agreement, Ms. Deanna Rene Estes will tender her resignation as a member…

    Read the filing
  • Stephen H. McKnight
    Activist
    Sold down below 5%
    Since 31 December 2025
    What they said

    Item 4 of the Schedule 13D is hereby amended and supplemented as follows: Each of the Ehrman Trust, Ligi Investments LLLP, and Messrs. Greenfield, Lockwood, McClure, and Johnson acquired the Shares reported herein for investment purposes. Mr. McKnight Jr. acquired his Shares as…

    Read the filing

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $107,900 of shares on the open market. 1 sold $45,046.

  • Meyers Brad Ian
    Chief Operating Officer
    Sold
    Date
    12 June 2026
    Shares
    9,831
    Price
    $2.33
    Value
    $22,906
  • Meyers Brad Ian
    Chief Operating Officer
    Sold
    Date
    11 June 2026
    Shares
    9,000
    Price
    $2.46
    Value
    $22,140
  • Russell Kline
    Chief Financial Officer
    Bought
    Date
    16 December 2025
    Shares
    20,000
    Price
    $0.22
    Value
    $4,400
  • Jones Stephen J
    Interim CEO, Director
    Bought
    Date
    16 December 2025
    Shares
    450,000
    Price
    $0.23
    Value
    $103,500

From Form 4 filings: insiders must report trades in their own company's shares within two days.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.