As of November 10, 2026, 4 holders' latest Schedule 13D or 13G filings report owning 5% or more of Health Catalyst, Inc. The largest reported stake is First Light Asset Management, LLC's, at 18.3%. 16 filings are on record since September 8, 2025 (Schedule 13D/A, March 13, 2026).
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Key facts
- · Reporting person: Palogic Value Management, LP · Sole voting: 0 · Shared voting: 5,366,087 · Sole dispositive: 0 · Shared dispositive: 5,374,949 · SCHEDULE 13D/A, 2026-09-08
- · Reporting person: Stoney Lonesome HF LP · Sole voting: 0 · Shared voting: 6,772,260 · Sole dispositive: 0 · Shared dispositive: 6,772,260 · SCHEDULE 13G/A, 2026-08-14
- · Reporting person: BlackRock, Inc. · Sole voting: 1,128,517 · Shared voting: 0 · Sole dispositive: 1,128,517 · Shared dispositive: 0 · SCHEDULE 13G/A, 2026-07-28
- · Reporting person: Impax Asset Management Group plc · Sole voting: 4,000,000 · Shared voting: 0 · Sole dispositive: 4,000,000 · Shared dispositive: 0 · SCHEDULE 13G, 2026-07-21
- · Holder: Palogic Value Management, LP · Percent: 6.7% · SCHEDULE 13D
Health Catalyst, Inc. has 16 Schedule 13D or 13G filings on record since 2025-09-08. 4 holders' latest filing reports 5% or more of common stock, par value $0.001 per share. Each figure below is the holder's own, as filed, with the filing linked.
Stated intent
Intent stated in Item 4 Whetstone Capital Advisors, LLC
Specifically, on January 15, 2026, the Reporting Persons notified the Company that they intend to submit a proposal to improve corporate governance at the Company for a vote at the next annual or special meeting of shareholders.From Item 4 of the SCHEDULE 13D filed 2026-01-21
Holders
| Holder | Percent | Shares | Latest | Event date |
|---|---|---|---|---|
| First Light Asset Management, LLC | 18.3% | 12,884,373 | SCHEDULE 13D/A, 2026-03-13 | 2026-03-12 |
| CDC Financial, Inc. | 9.6% | 7,092,698 | SCHEDULE 13G/A, 2026-08-14 | 2026-06-30 |
| Palogic Value Management, LP | 7.1% | 5,374,949 | SCHEDULE 13D/A, 2026-09-08 | 2026-09-04 |
| Impax Asset Management Group plc | 5.4% | 4,000,000 | SCHEDULE 13G, 2026-07-21 | 2026-06-30 |
| Whetstone Capital Advisors, LLC | 4.5% | 3,285,690 | SCHEDULE 13D/A, 2026-06-08 | 2026-06-04 |
| BlackRock, Inc. | 1.5% | 1,128,517 | SCHEDULE 13G/A, 2026-07-28 | 2026-06-30 |
| The Vanguard Group | 0% | 0 | SCHEDULE 13G/A, 2026-03-27 | 2026-03-13 |
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More on Health Catalyst, Inc. and the records around it.
Health Catalyst, Inc. elsewhere on the record
- Leadership changes Sep 2026
- Who owns it
Companies that share a holder
- Palogic Value Management, LP also filed stake reports on 1 other company: Open Lending Corp (Jul 2025)
- Whetstone Capital Advisors, LLC also filed stake reports on 3 other companies: Open Lending Corp (May 2026)
- Stoney Lonesome HF LP also filed stake reports on 4 other companies: Advanced Flower Capital Inc. (Jul 2026), Amplify Energy Corp. (Mar 2026), Algoma Steel Group Inc. (Aug 2025)
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What the Full Report on Health Catalyst, Inc. covers
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Which Company This Is
What They Do, And How The Money Works
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Voting and dispositive power, as filed
| Reporting person | Sole voting | Shared voting | Sole dispositive | Shared dispositive | Filing |
|---|---|---|---|---|---|
| Stoney Lonesome HF LP | 0 | 6,772,260 | 0 | 6,772,260 | SCHEDULE 13G/A, 2026-08-14 |
| Coghill Capital Management LLC | 0 | 6,772,260 | 0 | 6,772,260 | SCHEDULE 13G/A, 2026-08-14 |
| Drake Helix Holdings, LLC | 0 | 320,438 | 0 | 320,438 | SCHEDULE 13G/A, 2026-08-14 |
| CDC Financial, Inc. | 0 | 7,092,698 | 0 | 7,092,698 | SCHEDULE 13G/A, 2026-08-14 |
| Coghill Clint D | 2,800 | 7,092,698 | 2,800 | 7,092,698 | SCHEDULE 13G/A, 2026-08-14 |
| Palogic Value Management, LP | 0 | 5,366,087 | 0 | 5,374,949 | SCHEDULE 13D/A, 2026-09-08 |
| Palogic Value Fund, LP | 0 | 5,366,087 | 0 | 5,366,087 | SCHEDULE 13D/A, 2026-09-08 |
| Palogic Capital Management, LLC | 0 | 5,366,087 | 0 | 5,374,949 | SCHEDULE 13D/A, 2026-09-08 |
| Ryan L. Vardeman | 6,106 | 5,366,087 | 0 | 5,374,949 | SCHEDULE 13D/A, 2026-09-08 |
| Impax Asset Management Group plc | 4,000,000 | 0 | 4,000,000 | 0 | SCHEDULE 13G, 2026-07-21 |
| Impax Asset Management LLC | 4,000,000 | 0 | 4,000,000 | 0 | SCHEDULE 13G, 2026-07-21 |
| Whetstone Capital Advisors, LLC | 0 | 3,285,690 | 0 | 3,285,690 | SCHEDULE 13D/A, 2026-06-08 |
| David Atterbury | 0 | 3,285,690 | 0 | 3,285,690 | SCHEDULE 13D/A, 2026-06-08 |
| BlackRock, Inc. | 1,128,517 | 0 | 1,128,517 | 0 | SCHEDULE 13G/A, 2026-07-28 |
The latest filing identifies Health Catalyst, Inc. by CUSIP 42225T107 and gives its principal executive office as 10897 South River Front Parkway, #300, South Jordan, UT 84095 (SCHEDULE 13D/A, 2026-09-08).
What the percentages are based on
The following percentages are based on 73,894,020 Shares outstanding as of May 22, 2026, which is the total number of Shares outstanding as disclosed in the Issuer's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on June 3, 2026.CDC Financial, Inc., SCHEDULE 13G/A, 2026-08-14
Source of funds (Item 3)
Item 3 is hereby amended and restated in its entirety as follows: "The Reporting Persons expended an aggregate of approximately $11,790,874 (including commissions) to acquire 5,374,949 shares of Common Stock of the Issuer in various open market transactions. The funds used to acquire the shares of Common Stock of the Issuer held by Palogic Value Fund were derived from the general working capital of Palogic Value Fund.Palogic Value Management, LP, SCHEDULE 13D/A, 2026-09-08
The Common Stock reported herein as being beneficially owned by the Reporting Persons was purchased using working capital of the Funds. An aggregate of approximately $7,829,759.62 (excluding brokerage commissions) was used to purchase the Common Stock reported as beneficially owned by the Reporting Persons in this Amendment.Whetstone Capital Advisors, LLC, SCHEDULE 13D/A, 2026-06-08
Purpose of Transaction (Item 4)
Whetstone Capital Advisors, LLC
See the Schedule 13D.Item 4 of the SCHEDULE 13D/A filed 2026-06-08
Palogic Value Management, LP
Item 4 is hereby amended and supplemented as follows: "On September 4, 2026, Palogic Value Management sent a letter (the "September 2026 Letter") to the Board of Directors of the Issuer following the Issuer's VitalWare sale. In the September 2026 Letter, Palogic Value Management applauded the sale and requested that the Board of Directors of the Issuer provide investors a clear, forward-looking business plan. Palogic Value Management further requested that the plan include specific and separated research and development costs, that the Issuer enhance disclosure regarding its revenue and related business metrics, and posed questions to the Board of Directors of the Issuer concerning its capital allocation framework and path to profitable growth. The foregoing description of the September 2026 Letter does not purport to be complete and is qualified in its entirety by the full text of the September 2026 Letter, which is attached hereto as Exhibit 99.4 and incorporated herein by reference."Item 4 of the SCHEDULE 13D/A filed 2026-09-08
Timeline
| Filed | Holder | Percent | Filing |
|---|---|---|---|
| 2025-09-08 | Whetstone Capital Advisors, LLC | 5.4% | SCHEDULE 13G |
| 2025-11-14 | Mathew P. Arens | 19.75% | SCHEDULE 13G/A |
| 2025-12-03 | First Light Asset Management, LLC | 19.68% | SCHEDULE 13D |
| 2025-12-22 | CDC Financial, Inc. | 5.5% | SCHEDULE 13G |
| 2026-01-14 | Whetstone Capital Advisors, LLC | 5.3% | SCHEDULE 13G/A |
| 2026-01-21 | Whetstone Capital Advisors, LLC intent stated | 7.4% | SCHEDULE 13D |
| 2026-02-18 | Whetstone Capital Advisors, LLC | 8.2% | SCHEDULE 13D/A |
| 2026-03-13 | First Light Asset Management, LLC | 18.3% | SCHEDULE 13D/A |
| 2026-03-27 | The Vanguard Group | 0% | SCHEDULE 13G/A |
| 2026-05-15 | CDC Financial, Inc. | 8.6% | SCHEDULE 13G/A |
| 2026-06-08 | Whetstone Capital Advisors, LLC | 4.5% | SCHEDULE 13D/A |
| 2026-06-22 | Palogic Value Management, LP | 6.7% | SCHEDULE 13D |
| 2026-07-21 | Impax Asset Management Group plc | 5.4% | SCHEDULE 13G |
| 2026-07-28 | BlackRock, Inc. | 1.5% | SCHEDULE 13G/A |
| 2026-08-14 | CDC Financial, Inc. | 9.6% | SCHEDULE 13G/A |
| 2026-09-08 | Palogic Value Management, LP | 7.1% | SCHEDULE 13D/A |
Questions about who owns Health Catalyst, Inc.
Who owns Health Catalyst, Inc.?
On this page, 4 holders' latest ownership filings report 5% or more of Health Catalyst, Inc.: First Light Asset Management, LLC (18.3%, Schedule 13D/A, filed 2026-03-13), CDC Financial, Inc. (9.6%, Schedule 13G/A, filed 2026-08-14), Palogic Value Management, LP (7.1%, Schedule 13D/A, filed 2026-09-08) and Impax Asset Management Group plc (5.4%, Schedule 13G, filed 2026-07-21).
Who are the largest shareholders of Health Catalyst, Inc.?
By the share each holder's latest filing reports, the largest holders of Health Catalyst, Inc. on this page are First Light Asset Management, LLC (18.3%), CDC Financial, Inc. (9.6%) and Palogic Value Management, LP (7.1%).
When did First Light Asset Management, LLC buy into Health Catalyst, Inc.?
The filings give report dates, not purchase dates. The earliest filing from First Light Asset Management, LLC on this page is the Schedule 13D, filed 2025-12-03, reporting 19.68%; its latest, Schedule 13D/A filed 2026-03-13, reports 18.3%.
Is this an audit or a full list?
Neither. The ownership list on this page covers only Schedule 13D and 13G filings, which holders make once they own 5% or more of a class of shares (an amendment can report a stake that has since fallen below 5%); 16 such filings are shown here. It is not an audit and not a full cap table: holders who never reached 5% are not listed, and a stake can change after its latest filing.
Also on the record for Health Catalyst, Inc.
| Date | Record | Figure | Our page | Source |
|---|---|---|---|---|
| September 14, 2026 | Leadership change: Tami Reller appointed, Director | — | Leadership changes | Source |
| September 8, 2026 | Leadership change: Simeon Kohl appointed, President | — | Leadership changes | Source |
| April 30, 2026 | Leadership change: Steven Nelson appointed, Director | — | Leadership changes | Source |
| April 3, 2026 | Leadership change filing (Form 8-K, Item 5.02) | — | Leadership changes | Source |
| February 6, 2025 | Form D, private offering | $44.50M sold | Form D page | Source |
| November 25, 2024 | Form D, private offering | $18M sold | Form D page | Source |
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Where this comes from
Anyone who comes to own more than 5% of a class of a listed company's voting shares has to tell the SEC. A holder who may seek to change or influence the company files Schedule 13D, and has to say in Item 4, "Purpose of Transaction", what it intends to do. A holder with no such intent, such as many index and passive funds, may file the shorter Schedule 13G. Both are amended when the stake changes, including when it falls below 5%.
Every row here is one of those filings, linked to the filing itself. Percentages and share counts are exactly as the holder filed them, for the holder the filing names; an amendment showing a lower figure is shown as filed. Item 4 text is quoted word for word. Where a 13D's Item 4 contains a sentence stating a definite intent to influence the company, that sentence is marked and quoted; the page does not describe the holder or its motives beyond the words it filed. Nothing here is investment advice.