Mar 31, 2026 filings. Quarterly 13F reports arrive up to 45 days after quarter end; this register is filed through May 29, 2026.
470 institutional managers reported holding HQY for the quarter ended Mar 31, 2026. Reported positions total over 95% of shares outstanding; the top 10 hold 47%. 71 opened new positions; 104 closed out. Complete ranked register from SEC 13F filings.
| manager | shares | % out | value (Mar 31, 2026 close) | change | held since |
|---|---|---|---|---|---|
| BlackRock | 10.53M | 12.11% | $880.0M | trimmed -6.1% | 2014 Q3 |
| Vanguard Group | 8.73M | 10.04% | $729.4M | added +0.6% | 2014 Q3 |
| Wasatch Advisors LP | 7.20M | 8.28% | $601.8M | added +9.3% | 2014 Q3 |
| State Street | 3.10M | 3.56% | $259.0M | unchanged | 2014 Q3 |
| Morgan Stanley | 2.49M | 2.86% | $207.7M | added +67.3% | 2014 Q3 |
| Geode Capital | 2.26M | 2.60% | $188.8M | added +2.7% | 2014 Q3 |
| AQR Capital | 2.09M | 2.41% | $174.8M | added +18.7% | 2022 Q4 |
| William Blair Investment Management, LLC | 1.66M | 1.91% | $138.7M | trimmed -10.5% | 2025 Q4 |
| Dimensional Fund Advisors | 1.63M | 1.87% | $135.9M | added +2.9% | 2016 Q3 |
| Brown Advisory INC | 1.41M | 1.62% | $118.0M | trimmed -6.8% | 2018 Q1 |
| Clearbridge Investments, LLC | 1.31M | 1.51% | $109.4M | trimmed -3.6% | 2016 Q3 |
| Mackenzie Financial CORP | 1.28M | 1.47% | $107.1M | added +9.4% | 2020 Q4 |
| Greenhouse Funds Lllp (focused) | 1.26M | 1.45% | $105.1M | added +16.5% | 2024 Q1 |
| Charles Schwab Investment Management | 1.18M | 1.35% | $98.2M | added +3.8% | 2014 Q4 |
| Geneva Capital Management LLC | 1.17M | 1.35% | $98.1M | added +5% | 2020 Q1 |
| FMR (Fidelity) | 1.13M | 1.30% | $94.8M | trimmed -44.7% | 2015 Q2 |
| Northern Trust | 1.04M | 1.19% | $86.6M | added +1.8% | 2014 Q3 |
| Davenport & CO LLC | 1.02M | 1.17% | $84.8M | added +157.5% | 2020 Q1 |
| UBS | 981.5k | 1.13% | $82.0M | added +21.5% | 2014 Q3 |
| Loomis Sayles & CO L P | 931.9k | 1.07% | $77.9M | trimmed -2.2% | 2023 Q2 |
| Atalan Capital Partners, LP (focused) | 883.7k | 1.02% | $73.8M | trimmed -3.4% | 2025 Q2 |
| Bank OF America CORP /DE/ | 862.0k | 0.99% | $72.0M | added +43.5% | 2014 Q4 |
| Janus Henderson | 850.4k | 0.98% | $71.1M | added +3.7% | 2014 Q3 |
| Balyasny Asset Management | 835.1k | 0.96% | $69.8M | added +196.5% | 2024 Q4 |
| Cadian Capital Management, LP (focused) | 832.7k | 0.96% | $69.6M | added +46.9% | 2025 Q4 |
| Millennium Management | 808.9k | 0.93% | $67.6M | trimmed -15% | 2015 Q1 |
| T. Rowe Price | 803.4k | 0.92% | $67.1M | trimmed -39% | 2014 Q3 |
| Goldman Sachs | 800.8k | 0.92% | $66.9M | trimmed -13.4% | 2014 Q3 |
| Bamco INC /NY/ | 750.0k | 0.86% | $62.7M | trimmed -0.8% | 2014 Q3 |
| American Century Companies INC | 742.8k | 0.85% | $62.1M | trimmed -0.6% | 2015 Q4 |
| Westfield Capital Management CO LP | 712.8k | 0.82% | $59.6M | trimmed -63.5% | 2025 Q1 |
| Swedbank Robur | 706.3k | 0.81% | $59.0M | added +61.5% | 2025 Q4 |
| Stephens Investment Management Group LLC | 684.6k | 0.79% | $57.2M | trimmed -5.7% | 2014 Q3 |
| Nuveen | 680.5k | 0.78% | $56.9M | added +0.9% | 2017 Q1 |
| Ameriprise Financial INC | 638.0k | 0.73% | $53.3M | trimmed -5.2% | 2014 Q3 |
| Park West Asset Management LLC (focused) | 623.2k | 0.72% | $52.1M | opened | 2026 Q1 |
| SEI Investments CO | 602.7k | 0.69% | $50.4M | trimmed -9.9% | 2016 Q4 |
| BNY Mellon | 599.3k | 0.69% | $50.1M | trimmed -3.6% | 2014 Q3 |
| Nomura Asset Management International INC. | 592.0k | 0.68% | $49.5M | trimmed -6.6% | 2025 Q4 |
| Wellington Management | 497.5k | 0.57% | $41.6M | trimmed -35.2% | 2022 Q2 |
| Kayne Anderson Rudnick Investment Management LLC | 485.4k | 0.56% | $40.6M | trimmed -16.3% | 2016 Q1 |
| Gw&k Investment Management, LLC | 464.3k | 0.53% | $38.8M | unchanged | 2020 Q1 |
| Invesco | 452.7k | 0.52% | $37.8M | trimmed -48.1% | 2015 Q2 |
| Man Group | 423.3k | 0.49% | $35.4M | added +53.1% | 2023 Q2 |
| Aristotle Capital Boston, LLC | 397.2k | 0.46% | $33.2M | trimmed -8.2% | 2020 Q3 |
| Bessemer Group INC | 388.4k | 0.45% | $32.5M | added +4% | 2022 Q2 |
| Raymond James Financial INC | 380.5k | 0.44% | $31.8M | trimmed -7.4% | 2016 Q4 |
| Lazard Asset Management LLC | 341.4k | 0.39% | $28.5M | trimmed -2.8% | 2023 Q2 |
| Franklin Resources | 341.4k | 0.39% | $28.5M | unchanged | 2014 Q3 |
| Cibc Bancorp USA INC. | 322.2k | 0.37% | $26.9M | added +14.1% | 2014 Q3 |
Largest 50 of 470 shown; the full ranked, searchable register is at boothcheck.com/holders/HQY. Related filers are grouped using the filings' own included-manager declarations. Historically, several managers opening new positions in the same quarter said almost nothing about the quarter that followed (59,118 cases since 2013). A filed record, not a forecast. Nothing here is investment advice.