Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Health Catalyst Inc (HCAT)

129 + Investors. Track Smart Money conviction in HCAT. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -5
Streak
4Q ▼
Buyers last Q
49%

Smart Money Signals — HCAT

Based on 131 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 4 quarters in a row

last 6Q
For 4 consecutive quarters, more hedge funds reduced or closed their HCAT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 78% of 3.0Y peak

78% of all-time peak
131 funds currently hold this stock — 78% of the 3.0-year high of 168 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 20% fewer funds vs a year ago

fund count last 6Q
33 fewer hedge funds hold HCAT compared to a year ago (-20% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 49% buying

68 buying72 selling
Last quarter: 72 funds reduced or exited vs 68 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
📈

More new buyers each quarter (+9 vs last Q)

new funds entering per quarter
Funds opening a new HCAT position: 16 → 31 → 22 → 31. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 21% medium ■ 25% new
71 out of 131 hedge funds have held HCAT for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +6%, value -44%

Value
-43%
Shares
+5%
Last quarter: funds added +6% more shares while total portfolio value only changed -44%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

30 → 16 → 31 → 22 → 31 new funds/Q
New funds entering each quarter: 16 → 31 → 22 → 31. A growing number of institutions are discovering HCAT each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 58% veterans vs 30% newcomers

■ 58% veterans ■ 12% 1-2yr ■ 30% new
Entry-cohort mix of 140 holders: 81 (58%) are 2+ year veterans, 17 entered 1–2 years ago, and 42 (30%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 25% AUM from major funds

25% from top-100 AUM funds
32 of 129 holders rank in the top 100 by AUM, accounting for 25% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.6
out of 10
Low Exit Risk
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — HCAT

In 2026 Q1, 68 hedge funds were net buyers of HCAT (31 opened a new position, 37 added to an existing one), while 72 reduced or exited (36 trimmed, 36 sold completely) — a 49% buyer ratio, indicating roughly balanced activity. This extends a 4-quarter selling streak, suggesting sustained institutional caution. 25% of total institutional value in HCAT is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -5 funds (more exits than new entries). Total institutional holders: 131.

Hedge Fund Ownership: HCAT

How many hedge funds hold HCAT — quarterly history vs. share price
Quarterly hedge fund ownership of HCAT vs. share price

Market Analysis: HCAT

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HCAT

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Health Catalyst Inc (HCAT) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much HCAT has moved relative to its sector benchmark (XLV) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 47d ago
HCAT
-7.0%
XLV
+5.5%

HCAT outperformed XLV by -12.5% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 2d ago
HCAT
+0.0%
XLV
+0.0%

Since the filing became public, HCAT outperformed XLV by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 1 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: HCAT
2026 Q2 Stats Unlock in 3 days 129 + Investors

Track Smart Money conviction in HCAT. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 129 135 -4.44%
13F Shares 59M 55M 5.6%
Total Value $74M $132M -43.84%
New Positions 30 22 +8
Increased Positions 37 38 -1
Closed Positions 36 30 +6
Reduced Positions 34 48 -14
Total Calls 5 1 400.0%
Total Puts 5 1 400.0%
PUT/CALL Ratio 1.0 1.0 Neutral

Statistics: HCAT

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Price/Book (mrq) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Total Cash (mrq) --
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Institutional Holders (2026 Q2)

129 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in HCAT. Verified SEC 13F-HR filings.

QUARTER:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 HCAT holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 CDC Financial, Inc. 5.91% 7,092,698 $14.1M
2 Palogic Value Management, L.P. 3.23% 4,922,442 $9.8M
3 Nepsis Inc. 2.01% 2,976,187 $5.9M
4 First Light Asset Management, LLC 1.55% 12,810,861 $25.5M
5 Whetstone Capital Advisors, LLC 0.79% 1,515,000 $3.0M
6 Mink Brook Asset Management LLC 0.65% 738,277 $1.5M
7 HighMark Wealth Management LLC 0.58% 871,082 $1.7M
8 Prescott Group Capital Management, L.L.C. 0.12% 710,803 $1.4M
9 Veradace Capital Management LLC 0.11% 70,000 $139K
10 Whetstone Capital Advisors, LLC 0.09% 167,097 $333K
11 Williams & Novak Wealth Management, LLC 0.07% 53,607 $107K
12 Impax Asset Management Group plc 0.05% 4,000,000 $8.0M
13 Rangeley Capital, LLC 0.03% 15,880 $32K
14 71 West Capital Partners 0.02% 339,515 $676K
15 Strong Retirement Solutions LLC 0.02% 18,080 $36K
16 Headlands Technologies LLC 0.01% 65,715 $131K
17 Caption Management, LLC 0.01% 850,000 $1.7M
18 Caption Management, LLC 0.01% 850,000 $1.7M
19 Caption Management, LLC 0.01% 773,650 $1.5M
20 Susquehanna Portfolio Strategies, LLC 0.01% 168,443 $335K
21 Axq Capital, LP 0.00% 19,104 $38K
22 Abel Hall, LLC 0.00% 10,557 $21K
23 MCF Advisors LLC 0.00% 46,500 $93K
24 Sepio Capital, LP 0.00% 29,474 $59K
25 SageView Advisory Group, LLC 0.00% 55,442 $70K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Health Catalyst Inc (HCAT)

What does the Smart Money Trend signal show for HCAT?

Selling streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds reduced or closed their HCAT positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for HCAT?

More sellers than buyers — 49% buying: Last quarter: 72 funds reduced or exited vs 68 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for HCAT holders?

Strong quality — 25% AUM from major funds: 32 of 129 holders rank in the top 100 by AUM, accounting for 25% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held HCAT?

54% of holders stayed for 2+ years: 71 out of 131 hedge funds have held HCAT for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Health Catalyst Inc (HCAT) following the 2026 Q2 hedge fund 13F filings?

As of today, HCAT has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the XLV sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), HCAT has gained -7.0% vs +5.5% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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