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Definitive Healthcare
DH

136 hedge funds and large institutions have $295M invested in Definitive Healthcare in 2025 Q1 according to their latest regulatory filings, with 29 funds opening new positions, 43 increasing their positions, 44 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

90% more call options, than puts

Call options by funds: $38K | Put options by funds: $20K

45% more first-time investments, than exits

New positions opened: 29 | Existing positions closed: 20

7% more funds holding

Funds holding: 127 → 136 (+9)

0.34% less ownership

Funds ownership: 90.88% → 90.54% (-0.34%)

2% less repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 44

32% less capital invested

Capital invested by funds: $431M → $295M (-$136M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
136
Holders Change
+9
Holders Change %
+7.09%
% of All Funds
1.82%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
29
Increased
43
Reduced
44
Closed
20
Calls
$38K
Puts
$20K
Net Calls
+$18K
Net Calls Change
-$99K

Top Buyers

1
Goldman Sachs
Goldman Sachs
New York
+$30M
2
WCA
Whetstone Capital Advisors
Kansas
+$3.53M
3
Morgan Stanley
Morgan Stanley
New York
+$2.22M
4
PA
Pinnacle Associates
New York
+$1.06M
5
PWMAG
Pinnacle Wealth Management Advisory Group
New Jersey
+$1.06M

Top Sellers

1
ICM
Irenic Capital Management
New York
-$28.8M
2
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$7.41M
3
ACH
ArrowMark Colorado Holdings
Colorado
-$4.1M
4
Vanguard Group
Vanguard Group
Pennsylvania
-$3.53M
5
Millennium Management
Millennium Management
New York
-$3M
Name Holding Trade Value Shares
Change 		Change in
Stake
AG
26
Algert Global
California
$685K -$62.6K -15,424 -6%
Victory Capital Management
27
Victory Capital Management
Texas
$647K +$762K +187,780 +519%
Bank of New York Mellon
28
Bank of New York Mellon
New York
$647K -$21.3K -5,239 -2%
Two Sigma Investments
29
Two Sigma Investments
New York
$624K -$282K -69,578 -24%
Two Sigma Advisers
30
Two Sigma Advisers
New York
$569K +$31.6K +7,800 +4%
CSS
31
Cubist Systematic Strategies
Connecticut
$417K +$563K +138,640 +2,456%
Verition Fund Management
32
Verition Fund Management
Connecticut
$381K +$418K +103,116 +359%
Teacher Retirement System of Texas
33
Teacher Retirement System of Texas
Texas
$376K +$529K +130,266 New
Susquehanna International Group
34
Susquehanna International Group
Pennsylvania
$363K +$325K +80,077 +176%
SFI
35
Susquehanna Fundamental Investments
Pennsylvania
$347K -$679K -167,318 -58%
PAM
36
Panagora Asset Management
Massachusetts
$328K +$270K +66,436 +141%
BNP Paribas Financial Markets
37
BNP Paribas Financial Markets
France
$323K +$145K +35,710 +47%
Citadel Advisors
38
Citadel Advisors
Florida
$322K -$1.67M -412,640 -79%
XT
39
XTX Topco
Cayman Islands
$311K -$44K -10,845 -9%
2C
40
272 Capital
Texas
$311K -$2.31M -570,409 -84%
Jane Street
41
Jane Street
New York
$304K +$266K +65,597 +166%
N
42
Nuveen
North Carolina
$300K – – –
GCM
43
Graham Capital Management
Connecticut
$296K +$68.3K +16,840 +20%
Point72 Asset Management
44
Point72 Asset Management
Connecticut
$293K +$113K +27,733 +38%
PNC Financial Services Group
45
PNC Financial Services Group
Pennsylvania
$267K -$262K -64,513 -41%
Swiss National Bank
46
Swiss National Bank
Switzerland
$259K -$55.6K -13,700 -13%
AllianceBernstein
47
AllianceBernstein
Tennessee
$257K – – –
UBS AM
48
UBS AM
Illinois
$235K – – –
RhumbLine Advisers
49
RhumbLine Advisers
Massachusetts
$221K -$19K -4,688 -6%
QC
50
Quadrature Capital
United Kingdom
$217K +$304K +74,979 New
1
2
3 4 5

DH Hedge Fund Activity: Q1 2025 in Review

136 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Definitive Healthcare (DH) for Q1 2025, worth a combined $295M — down 32% from $431M a quarter earlier.

Buyers outnumbered sellers: 29 funds opened new DH positions and 20 closed out — a net gain of 9 holders — while 43 added to existing stakes and 44 trimmed.

The largest buyer was Goldman Sachs, adding an estimated $30M. The largest seller was Irenic Capital Management, exiting entirely with an estimated $28.8M sold.

  • 136 institutional investors held Definitive Healthcare (DH) as of Q1 2025, up from 127 in Q4 2024.
  • Funds reported $295M of Definitive Healthcare stock for Q1 2025, down 32% quarter-over-quarter.
  • 29 funds opened new Definitive Healthcare positions in Q1 2025 and 20 closed out, a net change of +9 holders.
  • The largest Definitive Healthcare buyer in Q1 2025 was Goldman Sachs, an estimated $30M added.
  • The largest Definitive Healthcare seller in Q1 2025 was Irenic Capital Management, an estimated $28.8M sold.

Based on aggregated 13F filings for Q1 2025.