Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Waystar Hldg Corp (WAY)

296 + 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
↓ -3
Streak
1Q ▼
Buyers last Q
54%

Smart Money Signals — WAY

Based on 300 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their WAY 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 (99% of max)

99% of all-time peak
300 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.
📶

Steady growth — +13% more funds vs a year ago

fund count last 6Q
+34 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 54% buying

191 buying164 selling
Last quarter: 191 funds bought or added vs 164 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 — ~71 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 87 → 72 → 76 → 71. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 41% entered in last year

■ 13% conviction (2yr+) ■ 45% medium ■ 41% new
Only 40 funds (13%) 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.
➡️

Steady discovery — ~71 new funds/quarter

75 → 87 → 72 → 76 → 71 new funds/Q
New funds entering each quarter: 87 → 72 → 76 → 71. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🌱

Early stage — 55% of holders entered in last year

■ 3% veterans ■ 42% 1-2yr ■ 55% new
Of 313 current holders: 173 (55%) entered in the past year, only 9 (3%) 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.
🏆

Elite ownership — 49% AUM from top-100 funds

49% from top-100 AUM funds
53 of 298 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in WAY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — 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 Q2, 191 hedge funds were net buyers of WAY (71 opened a new position, 120 added to an existing one), while 164 reduced or exited (90 trimmed, 74 sold completely) — a 54% buyer ratio, indicating a slight buying edge. 49% of total institutional value in WAY is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -3 funds (more exits than new entries). Total institutional holders: 300.

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.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 2 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
3.3
/ 10
conviction
Hedge Fund Positioning: WAY
296 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 296 303 -2.31%
13F Shares 212M 206M 3.0%
Total Value $4.26B $4.90B -13.0%
New Positions 70 76 -6
Increased Positions 116 113 +3
Closed Positions 75 73 +2
Reduced Positions 86 91 -5
Total Calls 8 8 -
Total Puts 7 8 -12.5%
PUT/CALL Ratio 0.88 1.0 Neutral

Statistics: WAY

View More

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 Q2)

296 + 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 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 EQT Fund Management S.a r.l. 59.21% 24,879,437 $510.8M
2 Bain Capital Venture Investors, LLC 13.65% 882,965 $18.1M
3 Blue Door Asset Management, LLC 9.42% 974,000 $20.0M
4 Goldentree Asset Management LP 7.34% 6,160,110 $126.3M
5 Bain Capital Investors LLC 5.65% 13,243,539 $271.9M
6 Alta Fox Capital Management, LLC 4.29% 1,039,000 $21.3M
7 Greenvale Capital LLP 3.36% 1,500,000 $30.8M
8 Sio Capital Management, LLC 3.15% 925,834 $19.0M
9 Avenir Corp 2.86% 1,144,717 $23.5M
10 Sunriver Management LLC 2.76% 855,000 $17.6M
11 Clarkston Capital Partners, LLC 2.71% 1,560,190 $32.0M
12 Blue Door Asset Management, LLC 1.69% 175,000 $3.6M
13 Roubaix Capital, LLC 1.41% 191,234 $3.9M
14 Marathon Capital Management 1.31% 315,265 $6.5M
15 Advent International, L.P. 1.28% 11,059,899 $227.1M
16 Aurora Investment Counsel 0.91% 85,951 $1.8M
17 Main Street Financial Solutions, LLC 0.68% 387,750 $9.3M
18 Oberweis Asset Management Inc/ 0.67% 1,589,364 $32.6M
19 ArrowMark Colorado Holdings LLC 0.50% 585,430 $12.0M
20 Parkman Healthcare Partners LLC 0.43% 203,986 $4.2M
21 Systematic Financial Management LP 0.35% 848,499 $17.4M
22 Diamond Hill Capital Management, LLC (Investment Advisor) 0.35% 2,109,793 $43.3M
23 Rhenman & Partners Asset Management AB 0.35% 178,566 $3.7M
24 Renaissance Group LLC 0.30% 358,495 $7.4M
25 Peregrine Capital Management LLC 0.28% 426,367 $8.8M
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?

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

Slight buying edge — 54% buying: Last quarter: 191 funds bought or added vs 164 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?

Elite ownership — 49% AUM from top-100 funds: 53 of 298 holders are among the 100 largest funds by AUM, controlling 49% of total institutional value in WAY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held WAY?

Mostly new holders — 41% entered in last year: Only 40 funds (13%) 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.

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.

Full history →