Alkeon Capital Management LLC and Panayotis D. Sparaggis have filed an amended Schedule 13G reporting beneficial ownership in Hinge Health, Inc. Class A common stock. They report holding 791,104 shares, representing 2.1% of the Class A shares outstanding.
The ownership percentages are based on 37,919,155 Class A shares outstanding as of October 30, 2025, as disclosed in Hinge Health’s Form 10-Q for the quarter ended September 30, 2025. Both reporting persons list shared voting and dispositive power over the same 791,104 shares and no sole power.
The filing date of the signatures is February 13, 2026, with an event date triggering the filing of December 31, 2025. The filing confirms that the reporting persons’ holdings are 5 percent or less of Hinge Health’s Class A common stock.
Positive
None.
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None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
Hinge Health, Inc.
(Name of Issuer)
Class A Common Stock, par value $0.00001 per share
(Title of Class of Securities)
433313103
(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.
433313103
1
Names of Reporting Persons
Alkeon Capital Management 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
791,104.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
791,104.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
791,104.00
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)
2.1 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP No.
433313103
1
Names of Reporting Persons
Panayotis D. Sparaggis
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
791,104.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
791,104.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
791,104.00
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)
2.1 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Hinge Health, Inc.
(b)
Address of issuer's principal executive offices:
455 Market Street, Suite 700, San Francisco, CA 94105
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Alkeon Capital Management LLC ("Alkeon"), a Delaware limited liability company and the investment manager to certain funds (the "Alkeon Funds"), with respect to the shares of Class A Common Stock, par value $0.00001 per share ("Class A Common Stock") of Hinge Health, Inc., a Delaware corporation (the "Company") directly held by the Alkeon Funds; and
(ii) Panayotis D. Sparaggis ("Mr. Sparaggis"), the Founder and Managing Director of Alkeon, with respect to the shares of Class A Common Stock directly held by the Alkeon Funds.
The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
The filing of this statement should not be construed as an admission that any of the foregoing persons or any Reporting Person is, for the purposes of Section 13 of the Securities Exchange Act of 1934, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 350 Madison Avenue, 20th Floor, New York, NY 10017.
(c)
Citizenship:
The Investment Manager is a Delaware limited liability company. Mr. Sparaggis is a citizen of the United States.
(d)
Title of class of securities:
Class A Common Stock, par value $0.00001 per share
(e)
CUSIP No.:
433313103
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:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth in this Schedule 13G is calculated based upon an aggregate of 37,919,155 shares of Class A Common Stock outstanding as of October 30, 2025, as reported in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the Securities and Exchange Commission on November 7, 2025.
(b)
Percent of class:
2.1%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
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:
Not Applicable
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.
What ownership stake in Hinge Health (HNGE) does Alkeon report in this Schedule 13G/A?
Alkeon Capital Management LLC and Panayotis D. Sparaggis report beneficial ownership of 791,104 Hinge Health Class A shares, representing 2.1% of the class. This percentage is based on 37,919,155 shares outstanding as of October 30, 2025, from Hinge Health’s Form 10-Q.
Who are the reporting persons in the Hinge Health (HNGE) Schedule 13G/A filing?
The reporting persons are Alkeon Capital Management LLC, a Delaware limited liability company, and Panayotis D. Sparaggis, its Founder and Managing Director. Both report indirect beneficial ownership of the same 791,104 Class A shares held by funds managed by Alkeon.
How much voting and dispositive power do the filers report over Hinge Health (HNGE) shares?
Each reporting person discloses 0 shares with sole voting or dispositive power and 791,104 shares with shared voting and shared dispositive power. This means decisions over these Hinge Health Class A shares are controlled jointly, not individually, by the reporting persons.
What dates are important in Alkeon’s Hinge Health (HNGE) Schedule 13G/A amendment?
The filing lists December 31, 2025 as the event date requiring the statement. It relies on Hinge Health’s Form 10-Q showing shares outstanding as of October 30, 2025. The signatures from Jennifer Shufro and Panayotis D. Sparaggis are dated February 13, 2026.
How does the filing show that Alkeon owns under 5% of Hinge Health (HNGE)?
Item 5 explicitly notes ownership of 5 percent or less of the class, and Item 4 shows a 2.1% stake based on 791,104 shares held. The calculation uses a total of 37,919,155 Hinge Health Class A shares outstanding from the company’s latest Form 10-Q.
