Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Healthequity Inc (HQY)

477 + 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
↓ -23
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — HQY

Based on 481 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their HQY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (95% of max)

95% of all-time peak
481 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 — +5% more funds vs a year ago

fund count last 6Q
+22 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 47% buying

257 buying287 selling
Last quarter: 287 funds reduced or exited vs 257 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.
⚠️

Fewer new buyers each quarter (-12 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 77 → 77 → 93 → 81. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 24% medium ■ 21% new
262 out of 481 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

81 → 77 → 77 → 93 → 81 new funds/Q
New funds entering each quarter: 77 → 77 → 93 → 81. A growing number of institutions are discovering HQY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 59% veterans vs 29% newcomers

■ 59% veterans ■ 12% 1-2yr ■ 29% new
Entry-cohort mix of 488 holders: 287 (59%) are 2+ year veterans, 61 entered 1–2 years ago, and 140 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 33% AUM from major funds

33% from top-100 AUM funds
55 of 480 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — 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 — HQY

In 2026 Q1, 257 hedge funds were net buyers of HQY (81 opened a new position, 176 added to an existing one), while 287 reduced or exited (183 trimmed, 104 sold completely) — a 47% buyer ratio, indicating roughly balanced activity. 33% of total institutional value in HQY is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -23 funds (more exits than new entries). Total institutional holders: 481.

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.

Is It Too Late to Buy Healthequity Inc (HQY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much HQY has moved relative to its sector benchmark (XLV) since the 2026 Q1 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 March 31, 2026 · 77d ago
HQY
+4.1%
XLV
+4.3%

HQY outperformed XLV by -0.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 32d ago
HQY
+5.8%
XLV
+5.4%

Since the filing became public, HQY outperformed XLV by +0.4% .

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.

30 top-rated funds 1 high-conviction
Consensus
6.5
/ 10
breadth
×
Elite
2.2
/ 10
conviction
Hedge Fund Positioning: HQY
477 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 477 504 -5.36%
13F Shares 85M 90M -5.24%
Total Value $6.91B $8.08B -14.47%
New Positions 79 93 -14
Increased Positions 175 179 -4
Closed Positions 106 70 +36
Reduced Positions 179 178 +1
Total Calls 5 6 -16.67%
Total Puts 3 5 -40.0%
PUT/CALL Ratio 0.6 0.83 Bullish

Statistics: HQY

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Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

477 + investors

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

QUARTER:
Top 25 HQY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Cadian Capital Management, LP 8.47% 832,700 $69.6M
2 Atalan Capital Partners, LP 6.81% 883,670 $73.8M
3 Greenhouse Funds LLLP 4.71% 1,257,854 $105.1M
4 Park West Asset Management LLC 4.42% 623,156 $52.1M
5 Wasatch Advisors LP 4.00% 7,202,934 $601.9M
6 12th Street Asset Management Company, LLC 3.44% 251,361 $21.0M
7 Summit Creek Advisors LLC 2.77% 161,123 $13.5M
8 Ashford Capital Management Inc 2.75% 266,481 $22.3M
9 Geneva Capital Management LLC 2.09% 1,174,070 $98.1M
10 Aristotle Capital Boston, LLC 2.06% 397,229 $33.2M
11 1492 Capital Management LLC 1.77% 55,772 $4.7M
12 Ranger Investment Management, L.P. 1.64% 271,223 $22.7M
13 Beacon Investment Advisors LLC 1.53% 48,391 $4.0M
14 Future Fund LLC 1.49% 50,580 $4.2M
15 Formula Growth Ltd 1.30% 34,552 $2.9M
16 Montanaro Asset Management Ltd 1.27% 50,800 $4.2M
17 Expect Equity LLC 1.25% 15,540 $1.3M
18 Elk River Wealth Management LLC 0.87% 62,610 $5.2M
19 Stephens Investment Management Group LLC 0.78% 684,619 $57.2M
20 Grandeur Peak Global Advisors, LLC 0.71% 36,445 $3.0M
21 Private Advisory Group LLC 0.70% 127,156 $10.6M
22 Thompson Investment Management, INC. 0.69% 63,981 $5.3M
23 Inspirion Wealth Advisors, LLC 0.68% 65,000 $5.4M
24 GDS Wealth Management 0.63% 125,608 $10.5M
25 Motley Fool Wealth Management, LLC 0.61% 64,752 $5.4M
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their HQY 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 HQY?

More sellers than buyers — 47% buying: Last quarter: 287 funds reduced or exited vs 257 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 HQY holders?

Strong quality — 33% AUM from major funds: 55 of 480 holders rank in the top 100 by AUM, accounting for 33% 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 HQY?

54% of holders stayed for 2+ years: 262 out of 481 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.

Is it too late to buy Healthequity Inc (HQY) following the 2026 Q1 hedge fund 13F filings?

As of today, HQY has moved +5.8% since the 2026 Q1 13F filing date (May 15, 2026), compared to +5.4% for the XLV sector ETF — an outperformance of +0.4%. Since the quarter end (March 31, 2026), HQY has gained +4.1% vs +4.3% 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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