Whetstone discloses 5.3% Health Catalyst (HCAT) stake in 13G filing

Rhea-AI Filing Summary

Health Catalyst, Inc. received an updated ownership report showing that Whetstone Capital Advisors, LLC and David Atterbury together beneficially own 3,750,377 shares of its common stock. This stake represents 5.3% of the company’s outstanding common shares as of the reporting date.

The filing states that the reporting persons share both voting and dispositive power over all of these shares and have no sole voting or dispositive authority. They also certify that the shares were not acquired for the purpose of changing or influencing control of Health Catalyst.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Health Catalyst, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

42225T107

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 42225T107

1

Names of Reporting Persons

Whetstone Capital Advisors, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

KANSAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,750,377.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,750,377.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,750,377.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 42225T107

1

Names of Reporting Persons

David Atterbury

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,750,377.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,750,377.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,750,377.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.3 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Health Catalyst, Inc.
(b)	Address of issuer's principal executive offices: 10897 South River Front Parkway #300, South Jordan, Utah 84095
Item 2.
(a)	Name of person filing: Whetstone Capital Advisors, LLC ("WCA") and Mr. David Atterbury (collectively the "Reporting Persons").
(b)	Address or principal business office or, if none, residence: 2001 Shawnee Mission Parkway, Shawnee Mission, Kansas 66205
(c)	Citizenship: United States of America
(d)	Title of class of securities: Common Stock, par value $0.001 per share
(e)	CUSIP No.: 42225T107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,750,377
(b)	Percent of class: 5.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote:
	(ii) Shared power to vote or to direct the vote: 3,750,377
	(iii) Sole power to dispose or to direct the disposition of:
	(iv) Shared power to dispose or to direct the disposition of: 3,750,377
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Whetstone Capital Advisors, LLC

Signature:	/s/ David Atterbury
Name/Title:	Manager
Date:	01/14/2026

David Atterbury

Signature:	/s/ David Atterbury
Name/Title:	CCO/President
Date:	01/14/2026

FAQ

What ownership stake in HCAT does Whetstone Capital report?

Whetstone Capital Advisors, LLC and David Atterbury report beneficial ownership of 3,750,377 Health Catalyst common shares, representing 5.3% of the class.

Who are the reporting persons in this Health Catalyst (HCAT) Schedule 13G/A?

The reporting persons are Whetstone Capital Advisors, LLC and David Atterbury, who filed jointly as the beneficial owners of the shares.

Does Whetstone have sole or shared voting power over HCAT shares?

The filing shows 0 shares with sole voting power and 3,750,377 shares with shared voting power and shared dispositive power.

What class of Health Catalyst (HCAT) securities is covered in this filing?

The filing covers common stock of Health Catalyst, Inc., with a par value of $0.001 per share and CUSIP 42225T107.

Is Whetstone’s HCAT position reported as passive or control-seeking?

The certification states the securities were not acquired and are not held for the purpose of changing or influencing control of Health Catalyst.

What is the relevant date for this HCAT Schedule 13G/A ownership report?

The date of the event requiring the filing is listed as 12/31/2025.