Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

HEALTHEQUITY INC (HQY)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +22
Streak
11Q ▲
Buyers last Q
52%

Smart Money Signals — HQY

Based on 475 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 11 quarters in a row

last 6Q
For 11 consecutive quarters, more hedge funds added HQY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
475 hedge funds hold HQY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +16% more funds vs a year ago

fund count last 6Q
+64 new funds entered over the past year (+16% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 52% buying

263 buying238 selling
Last quarter: 263 funds bought or added vs 238 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+17 vs last Q)

new funds entering per quarter
Funds opening a new HQY position: 75 → 72 → 74 → 91. 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+) ■ 25% medium ■ 22% new
255 out of 475 hedge funds have held HQY 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.
📈

Growing discovery — still being found

83 → 75 → 72 → 74 → 91 new funds/Q
New funds entering each quarter: 75 → 72 → 74 → 91. A growing number of institutions are discovering HQY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 61% of holders stayed 2+ years

■ 61% veterans ■ 10% 1-2yr ■ 29% new
Of 485 current holders: 295 (61%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 40% AUM from top-100 funds

40% from top-100 AUM funds
43 of 475 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in HQY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.7
out of 10
Low Exit Risk
Exit risk score 3.7/10 — 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.

Hedge Fund Ownership: HQY

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

Market Analysis: HQY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: HQY

-- --

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

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

61 top-rated funds 1 high-conviction
Consensus
7.8
/ 10
breadth
×
Elite
2.3
/ 10
conviction
Hedge Fund Positioning: HQY
2026 Q1 Stats Unlock in 10 days 485 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 485 466 4.08%
13F Shares 89M 88M 1.54%
Total Value $8.00B $8.15B -1.78%
New Positions 91 76 +15
Increased Positions 189 173 +16
Closed Positions 72 74 -2
Reduced Positions 183 189 -6
Total Calls 6 6 -
Total Puts 5 7 -28.57%
PUT/CALL Ratio 0.83 1.17 Neutral

Statistics: HQY

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

485 + investors

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

Top 25 institutional holders of HQY — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 WASATCH ADVISORS LP 4.00% 7,202,934 $601.9M
2 Summit Creek Advisors LLC 2.77% 161,123 $13.5M
3 GENEVA CAPITAL MANAGEMENT LLC 2.09% 1,174,070 $98.1M
4 1492 Capital Management LLC 1.77% 55,772 $4.7M
5 Future Fund LLC 1.49% 50,580 $4.2M
6 Elk River Wealth Management LLC 0.87% 62,610 $5.2M
7 Stephens Investment Management Group LLC 0.78% 684,619 $57.2M
8 Private Advisory Group LLC 0.70% 127,156 $10.6M
9 THOMPSON INVESTMENT MANAGEMENT, INC. 0.69% 63,981 $5.3M
10 INSPIRION WEALTH ADVISORS, LLC 0.68% 65,000 $5.4M
11 GDS Wealth Management 0.63% 125,608 $10.5M
12 Physician Wealth Advisors, Inc. 0.55% 47,049 $3.9M
13 HC Advisors, LLC 0.49% 8,690 $726K
14 DAVENPORT & Co LLC 0.46% 1,015,434 $84.9M
15 MOODY ALDRICH PARTNERS LLC 0.46% 30,504 $2.5M
16 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.46% 1,659,616 $138.7M
17 WASHINGTON CAPITAL MANAGEMENT, INC 0.45% 6,350 $531K
18 PEREGRINE CAPITAL MANAGEMENT LLC 0.39% 126,231 $10.5M
19 Three Seasons Wealth, LLC 0.38% 11,966 $1000K
20 TECTONIC ADVISORS LLC 0.37% 82,831 $6.9M
21 Maridea Wealth Management LLC 0.36% 29,272 $2.4M
22 Steadtrust LLC 0.33% 7,020 $587K
23 City Center Advisors, LLC 0.27% 3,502 $293K
24 Oxbow Advisors, LLC 0.27% 37,653 $3.1M
25 GM Advisory Group, LLC 0.24% 75,402 $6.3M
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 — HEALTHEQUITY INC (HQY)

What does the Smart Money Trend signal show for HQY?

Buying streak — 11 quarters in a row: For 11 consecutive quarters, more hedge funds added HQY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for HQY?

Slight buying edge — 52% buying: Last quarter: 263 funds bought or added vs 238 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for HQY holders?

Elite ownership — 40% AUM from top-100 funds: 43 of 475 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in HQY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held HQY?

54% of holders stayed for 2+ years: 255 out of 475 hedge funds have held HQY 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.

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.