Health Catalyst
HCAT
165 hedge funds and large institutions have $241M invested in Health Catalyst in 2025 Q1 according to their latest regulatory filings, with 27 funds opening new positions, 52 increasing their positions, 55 reducing their positions, and 28 closing their positions.
1,796% more call options, than puts
Call options by funds: $2.05M | Put options by funds: $108K
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
4% less first-time investments, than exits
New positions opened: 27 | Existing positions closed: 28
5% less repeat investments, than reductions
Existing positions increased: 52 | Existing positions reduced: 55
1% less funds holding
Funds holding: 167 → 165 (-2)
9.4% less ownership
Funds ownership: 85.14% → 75.74% (-9.4%)
36% less capital invested
Capital invested by funds: $376M → $241M (-$135M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FLAM
First Light Asset Management
Edina,
Minnesota
|
+$27.5M |
| 2 |
NI
Nepsis Inc
Minneapolis,
Minnesota
|
+$10.6M |
| 3 |
WCA
Whetstone Capital Advisors
Shawnee Mission,
Kansas
|
+$9.02M |
| 4 |
PCM
Portolan Capital Management
Boston,
Massachusetts
|
+$3.01M |
| 5 |
Connor, Clark & Lunn Investment Management (CC&L)
Vancouver,
British Columbia, Canada
|
+$2.33M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DG
Daventry Group
New York
|
-$17.7M |
| 2 |
Alyeska Investment Group
Chicago,
Illinois
|
-$8.84M |
| 3 |
Millennium Management
New York
|
-$7.87M |
| 4 |
Bank of New York Mellon
New York
|
-$6.55M |
| 5 |
KCM
Kennedy Capital Management
St Louis,
Missouri
|
-$4.03M |
HCAT Hedge Fund Activity: Q1 2025 in Review
165 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in Health Catalyst (HCAT) for Q1 2025, worth a combined $241M — down 36% from $376M a quarter earlier.
Sellers outnumbered buyers: 28 funds closed out of HCAT and 27 opened new positions — a net loss of 1 holder — while 55 trimmed existing stakes and 52 added.
The largest buyer was First Light Asset Management, adding an estimated $27.5M. The largest seller was Daventry Group, exiting entirely with an estimated $17.7M sold.
- 165 institutional investors held Health Catalyst (HCAT) as of Q1 2025, down from 167 in Q4 2024.
- Funds reported $241M of Health Catalyst stock for Q1 2025, down 36% quarter-over-quarter.
- 27 funds opened new Health Catalyst positions in Q1 2025 and 28 closed out, a net change of -1 holder.
- The largest Health Catalyst buyer in Q1 2025 was First Light Asset Management, an estimated $27.5M added.
- The largest Health Catalyst seller in Q1 2025 was Daventry Group, an estimated $17.7M sold.
Based on aggregated 13F filings for Q1 2025.