Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Waystar Hldg Corp (WAY)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
1Q ▲
Buyers last Q
53%

Smart Money Signals — WAY

Based on 301 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added WAY 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 (99% of max)

99% of all-time peak
301 hedge funds hold WAY 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.
🚀

Fast accumulation — +39% more funds vs a year ago

fund count last 6Q
+84 new funds entered over the past year (+39% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡

Slight buying edge — 53% buying

189 buying170 selling
Last quarter: 189 funds bought or added vs 170 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.
➡️

Steady new buyers — ~76 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 75 → 87 → 72 → 76. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 48% entered in last year

■ 6% conviction (2yr+) ■ 46% medium ■ 48% new
Only 17 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💎

Buying through price weakness — shares +2%, value -26%

Value
-25%
Shares
+2%
Last quarter: funds added +2% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~76 new funds/quarter

76 → 75 → 87 → 72 → 76 new funds/Q
New funds entering each quarter: 75 → 87 → 72 → 76. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱

Early stage — 61% of holders entered in last year

■ 4% veterans ■ 35% 1-2yr ■ 61% new
Of 316 current holders: 192 (61%) entered in the past year, only 12 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds
50 of 300 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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 — WAY

In 2026 Q1, 189 hedge funds were net buyers of WAY (76 opened a new position, 113 added to an existing one), while 170 reduced or exited (95 trimmed, 75 sold completely) — a 53% buyer ratio, indicating a slight buying edge. 39% of total institutional value in WAY is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 301.

Hedge Fund Ownership: WAY

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

Market Analysis: WAY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: WAY

-- --

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

Is It Too Late to Buy Waystar Hldg Corp (WAY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much WAY 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 · 78d ago
WAY
-21.7%
XLV
+3.5%

WAY outperformed XLV by -25.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
WAY
+5.3%
XLV
+4.6%

Since the filing became public, WAY outperformed XLV by +0.7% .

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.

25 top-rated funds 3 high-conviction
Consensus
6.1
/ 10
breadth
×
Elite
3.4
/ 10
conviction
Hedge Fund Positioning: WAY
300 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 300 300 -
13F Shares 204M 200M 2.12%
Total Value $4.84B $6.50B -25.54%
New Positions 75 72 +3
Increased Positions 111 112 -1
Closed Positions 75 75 -
Reduced Positions 91 93 -2
Total Calls 8 5 60.0%
Total Puts 8 5 60.0%
PUT/CALL Ratio 1.0 1.0 Neutral

Statistics: WAY

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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)

300 + investors

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

QUARTER:
Top 25 WAY holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 EQT Fund Management S.a r.l. 58.77% 24,879,437 $599.8M
2 Bain Capital Venture Investors, LLC 12.17% 882,965 $21.3M
3 Blue Door Asset Management, LLC 10.82% 711,800 $17.2M
4 Bain Capital Investors LLC 9.77% 13,243,539 $319.3M
5 Goldentree Asset Management LP 6.34% 4,443,671 $107.0M
6 Advent International, L.P. 6.28% 11,059,899 $266.7M
7 Sio Capital Management, LLC 5.68% 1,642,236 $39.6M
8 Avenir Corp 2.86% 973,260 $23.5M
9 Roubaix Capital, LLC 2.25% 200,167 $4.8M
10 Clarkston Capital Partners, LLC 1.75% 950,531 $22.9M
11 Blue Door Asset Management, LLC 1.52% 100,000 $2.4M
12 ArrowMark Colorado Holdings LLC 1.41% 2,198,468 $53.0M
13 Kingdon Capital Management, L.L.C. 1.16% 438,000 $10.6M
14 PointState Capital LP 1.15% 3,767,798 $90.8M
15 Lisanti Capital Growth, LLC 1.14% 187,130 $4.5M
16 Parkman Healthcare Partners LLC 1.10% 443,058 $10.7M
17 Aurora Investment Counsel 1.06% 79,000 $1.9M
18 Rhenman & Partners Asset Management AB 1.02% 342,566 $8.3M
19 Oberweis Asset Management Inc/ 0.83% 1,167,474 $28.1M
20 Renaissance Capital LLC 0.81% 52,021 $1.1M
21 Taproot Management LP 0.54% 119,532 $2.9M
22 Seven Grand Managers, LLC 0.48% 300,000 $7.2M
23 Burkehill Global Management, LP 0.48% 400,000 $9.6M
24 Rtw Investments, LP 0.39% 1,630,000 $39.3M
25 Next Century Growth Investors LLC 0.38% 216,616 $5.2M
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 — Waystar Hldg Corp (WAY)

What does the Smart Money Trend signal show for WAY?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added WAY 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 WAY?

Slight buying edge — 53% buying: Last quarter: 189 funds bought or added vs 170 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 WAY holders?

Strong quality — 39% AUM from major funds: 50 of 300 holders rank in the top 100 by AUM, accounting for 39% 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 WAY?

Mostly new holders — 48% entered in last year: Only 17 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

Is it too late to buy Waystar Hldg Corp (WAY) following the 2026 Q1 hedge fund 13F filings?

As of today, WAY has moved +5.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.6% for the XLV sector ETF — an outperformance of +0.7%. Since the quarter end (March 31, 2026), WAY has gained -21.7% vs +3.5% 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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