HEALTHEQUITY, INC.
Ticker: HQYIndustrialsBusiness ServicesThe business
HealthEquity, Inc. (NASDAQ: HQY) is a leading technology-enabled services provider that empowers consumers to make healthcare saving, spending, and investing decisions through tax-advantaged accounts. The company's website is www.healthequity.com.
HealthEquity administers health savings accounts (HSAs) and complementary consumer-directed benefits (CDBs) including flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA continuation coverage, and commuter benefit programs. As of January 31, 2026, the company administered 10.6 million HSAs with balances totaling $36.5 billion in HSA Assets, along with 7.2 million complementary CDBs, for a combined total of 17.8 million accounts. The company holds a 20 percent market share of HSA Assets as of June 2025 and is the largest HSA provider by number of accounts and second largest by HSA Assets.
The company operates a business-to-business-to-consumer distribution model, reaching consumers primarily through relationships with employers (Clients) and benefits brokers, as well as through integrated partnerships with health plans, benefits administrators, and retirement plan recordkeepers (Network Partners). As of January 31, 2026, HealthEquity's platforms were integrated with more than 200 Network Partners.
Revenue is generated from three primary sources: service fees from Clients, Network Partners, and members for administration services; custodial revenue from HSA cash held by insurance company and bank partners; and interchange revenue from payment card transactions. The company also provides investment advisory services through its SEC-registered subsidiary, HealthEquity Advisors, LLC, and offers members access to healthcare products and services through its marketplace.
HealthEquity operates a proprietary cloud-based technology platform designed specifically for managing consumer healthcare savings and spending. The company employs 2,814 team members and serves the United States market exclusively. In fiscal 2025, the company acquired the BenefitWallet HSA portfolio from Conduent Business Services, LLC, comprising approximately 616,000 HSAs and $2.7 billion in HSA Assets for $425.0 million, significantly expanding its market position.
- Sector
- Industrials
- Industry
- Business Services
- HQ
- DRAPER, UT
- FY end
- 01-31
- CIK
- 1428336
- SIC
- 7389
Ownership
Who holds HEALTHEQUITY, INC. — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30
Top fund holders
| Fund | % of fund | Value |
|---|---|---|
| iShares Core S&P Mid-Cap ETF IJH · iShares Trust | 0.21% | $261.14M |
| VANGUARD TOTAL STOCK MARKET INDEX FUND VTI · VANGUARD INDEX FUNDS | 0.01% | $227.88M |
| Wasatch Core Growth Fund WGROX · WASATCH FUNDS TRUST | 6.75% | $201.30M |
| iShares Russell 2000 ETF IWM · iShares Trust | 0.24% | $196.74M |
| VANGUARD SMALL-CAP INDEX FUND VB · VANGUARD INDEX FUNDS | 0.09% | $164.58M |
Bonds held by funds
Funds report holding 1 issues of HEALTHEQUITY, INC.'s debt, $243.71M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 4.50%, maturing 2029–2029.
| Issue | Coupon | Matures | Funds | Fund-held |
|---|---|---|---|---|
| HealthEquity Inc | 4.500% | 2029-10-01 | 110 | $243.71M |
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
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