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Heritage Financial
HFWA

171 hedge funds and large institutions have $685M invested in Heritage Financial in 2025 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 56 increasing their positions, 59 reducing their positions, and 24 closing their positions.

New
Increased
Maintained
Reduced
Closed

0.29% more ownership

Funds ownership: 83.95% → 84.23% (+0.29%)

1% less capital invested

Capital invested by funds: $694M → $685M (-$9.39M)

5% less repeat investments, than reductions

Existing positions increased: 56 | Existing positions reduced: 59

5% less funds holding

Funds holding: 180 → 171 (-9)

33% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 24

100% less call options, than puts

Call options by funds: $5K | Put options by funds: $2.01M

Holders
171
Holders Change
-9
Holders Change %
-5%
% of All Funds
2.25%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
16
Increased
56
Reduced
59
Closed
24
Calls
$5K
Puts
$2.01M
Net Calls
-$2.01M
Net Calls Change
-$2.03M

Top Buyers

Rank Fund Capital Flow
1
Victory Capital Management
Victory Capital Management
Texas
+$21.3M
2
Jennison Associates
Jennison Associates
New York
+$5.18M
3
N
Nuveen
North Carolina
+$3.56M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$1.37M
5
Two Sigma Investments
Two Sigma Investments
New York
+$1.23M

Top Sellers

Rank Fund Capital Flow
1
DRZID
DePrince Race & Zollo Inc (DRZ)
Florida
-$3.25M
2
ZIM
Zacks Investment Management
Illinois
-$2.99M
3
AQR Capital Management
AQR Capital Management
Connecticut
-$2.84M
4
JP Morgan Chase
JP Morgan Chase
New York
-$2.43M
5
HF
HRT Financial
New York
-$2.02M
Name Holding Trade Value Shares
Change 		Change in
Stake
TRSOTSOK
101
Teachers Retirement System of the State of Kentucky
Kentucky
$273K – – –
ACM
102
Aquatic Capital Management
Illinois
$260K +$239K +10,370 +1,892%
Mariner
103
Mariner
Kansas
$254K +$245K +10,636 New
MSRPS
104
Maryland State Retirement & Pension System
Maryland
$236K – – –
ASRS
105
Arizona State Retirement System
Arizona
$236K +$3.25K +141 +1%
AB
106
Amalgamated Bank
New York
$232K – – –
New York State Common Retirement Fund
107
New York State Common Retirement Fund
New York
$229K – – –
DT
108
Diversified Trust
Tennessee
$210K – – –
ACA
109
Aspire Capital Advisors
Washington
$209K – – –
COPPSERS
110
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$209K +$202K +8,756 New
State of Tennessee, Department of Treasury
111
State of Tennessee, Department of Treasury
Tennessee
$206K -$466K -20,225 -70%
BHCM
112
Brevan Howard Capital Management
Jersey
$203K -$168K -7,294 -46%
Zurich Cantonal Bank
113
Zurich Cantonal Bank
Switzerland
$194K – – –
US Bancorp
114
US Bancorp
Minnesota
$193K -$57.5K -2,500 -24%
PFSRSONJ
115
Police & Firemen's Retirement System of New Jersey
New Jersey
$187K – – –
OPERF
116
Oregon Public Employees Retirement Fund
Oregon
$187K – – –
SG Americas Securities
117
SG Americas Securities
New York
$177K -$15.7K -682 -8%
ZBNA
118
Zions Bancorporation, National Association
Utah
$163K – – –
KK
119
KLP Kapitalforvaltning
Norway
$153K – – –
CFS
120
CGC Financial Services
Oregon
$147K – – –
MS
121
Marshall & Sullivan
Washington
$146K +$141K +6,144 New
Fidelity Investments
122
Fidelity Investments
Massachusetts
$142K +$32.6K +1,415 +31%
New York State Teachers Retirement System (NYSTRS)
123
New York State Teachers Retirement System (NYSTRS)
New York
$141K +$2.3K +100 +2%
GI
124
GAMMA Investing
California
$109K +$36.5K +1,585 +53%
BNP Paribas Financial Markets
125
BNP Paribas Financial Markets
France
$92.9K -$255K -11,099 -74%
3 4
5
6 7

HFWA Hedge Fund Activity: Q2 2025 in Review

171 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Heritage Financial (HFWA) for Q2 2025, worth a combined $685M — down 1.4% from $694M a quarter earlier.

Sellers outnumbered buyers: 24 funds closed out of HFWA and 16 opened new positions — a net loss of 8 holders — while 59 trimmed existing stakes and 56 added.

The largest buyer was Victory Capital Management, adding an estimated $21.3M. The largest seller was DePrince Race & Zollo Inc (DRZ), cutting an estimated $3.25M.

  • 171 institutional investors held Heritage Financial (HFWA) as of Q2 2025, down from 180 in Q1 2025.
  • Funds reported $685M of Heritage Financial stock for Q2 2025, down 1.4% quarter-over-quarter.
  • 16 funds opened new Heritage Financial positions in Q2 2025 and 24 closed out, a net change of -8 holders.
  • The largest Heritage Financial buyer in Q2 2025 was Victory Capital Management, an estimated $21.3M added.
  • The largest Heritage Financial seller in Q2 2025 was DePrince Race & Zollo Inc (DRZ), an estimated $3.25M sold.

Based on aggregated 13F filings for Q2 2025.