SCHEDULE: Whetstone Capital Discloses Health Catalyst Stake

Whetstone Capital Advisors and David Atterbury report a 4.5% beneficial ownership stake in Health Catalyst, Inc. through an amended Schedule 13D filing.

Summary

• Whetstone Capital Advisors, LLC and David Atterbury report beneficial ownership of 3,285,690 shares of Health Catalyst, Inc. common stock.
• The reported stake represents 4.5% of the company's total issued and outstanding common stock.
• The holdings include 1,515,000 shares receivable upon the exercise of long options.
• The reporting persons also disclosed short positions involving 30,030 options exercisable until December 18, 2026.
• The total investment value for the reported common stock is approximately $7,829,759.62.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral disclosure of institutional investment activity, reflecting standard portfolio management rather than a change in corporate strategy.

Positives

• The reporting entity maintains a significant position in the issuer, signaling long-term interest.
• The investment is backed by the working capital of the funds managed by Whetstone Capital Advisors.

Negatives

• The reporting persons hold short positions in the issuer's options, indicating a hedged or complex trading strategy.
• The stake remains below the 5% threshold typically associated with significant activist influence.

Risks

• Market volatility affecting the value of the underlying common stock.
• Potential expiration of long options on December 18, 2026.
• Risks associated with the short option positions held by the reporting persons.

Future Outlook

The filing does not provide specific forward-looking guidance regarding the issuer's business operations, focusing instead on the reporting person's investment position and derivative holdings.

Management Comments

• The reporting persons certify that the information set forth in the statement is true, complete, and correct.

Industry Context

StockSavvy.ai notes that this filing reflects standard institutional disclosure requirements for investment advisors managing private funds, highlighting ongoing capital allocation into the healthcare technology sector.

Comparison to Industry Standards

• The filing adheres to standard SEC Schedule 13D disclosure requirements for institutional investors.
• The use of derivative instruments (long and short options) is consistent with sophisticated investment management strategies employed by firms like Whetstone Capital.

Legal Proceedings

• None disclosed.

Related Party Transactions

• None disclosed.

Stakeholder Impact

• Shareholders should note the presence of a 4.5% holder with active derivative positions.
• No immediate impact on employees, customers, or suppliers.

Next Steps

• Monitor for future amendments if ownership thresholds change significantly.
• Observe the expiration of options on December 18, 2026.

Key Dates

Keywords

Health Catalyst, Whetstone Capital, Schedule 13D, Institutional Ownership, Common Stock, David Atterbury