---
title: "Wasatch 2026Q1 13F: HealthEquity Led a Small and Mid-Cap Growth Book"
type: research
slug: wasatch-q1-2026-small-mid-cap-growth-health-equity
canonical_url: https://13finsight.com/research/wasatch-q1-2026-small-mid-cap-growth-health-equity
published_at: 2026-04-26T09:01:21.898Z
updated_at: 2026-04-26T09:01:26.155Z
author: Marcus Chen
author_title: Senior Market Analyst
author_url: https://13finsight.com/authors/marcus-chen
word_count: 367
locale: en
source: 13F Insight
---

# Wasatch 2026Q1 13F: HealthEquity Led a Small and Mid-Cap Growth Book

> Wasatch Advisors' 2026Q1 13F showed a $15.06B reported book led by HealthEquity, Ensign, Medpace and a set of small and mid-cap growth names.

WASATCH ADVISORS LP filed a 2026Q1 portfolio that gives investors a fresh read on manager positioning before the full filing season is complete. HealthEquity was the largest reported position, and the top ten showed far less mega-cap overlap than broad-market portfolios. The useful signal is not simply the largest dollar value. It is how the top holdings, concentration and share-count changes line up with the manager's style. The visible stock set includes HQY, ENSG, MEDP, ECG, SXI, RBC, KAI. That list is a starting point for analysis, not a model portfolio. A 13F is delayed, long-only in most visible equity lines and incomplete where non-13F instruments matter. Top Holdings Show the Portfolio Shape The top-ten holdings in the fact pack were: HQY: $601.9M (4.00%) | NEW position, ENSG: $414.7M (2.75%) | NEW position, M20791105: $413.6M (2.75%) | NEW position, MEDP: $371.6M (2.47%) | NEW position, M7516K103: $370.3M (2.46%) | NEW position, G3323L100: $366.7M (2.44%) | NEW position, ECG: $356.2M (2.37%) | NEW position, SXI: $335.7M (2.23%) | NEW position, RBC: $312.8M (2.08%) | NEW position, KAI: $303.6M (2.02%) | NEW position. This is enough to identify the portfolio's center of gravity. It also shows whether the manager was leaning into broad mega-cap exposure, a value basket, small and mid-cap growth, or a more balanced mix. Concentration Is the First Risk Check WASATCH ADVISORS LP's top holdings should be read against the full reported value and the number of holdings. A concentrated top five makes each share-count change more important. A wider book makes the top names useful but less definitive. In either case, the next question is whether the reported shares changed or whether market prices did most of the work. What to Compare Next Use the full WASATCH ADVISORS LP filer page to compare this quarter with the next update. Then compare overlapping holdings with Pictet, Assenagon, Ninety One, Pzena and Wasatch. Peer comparison is what turns one filing into a signal. The next anchor is the following 13F cycle. If the same top names remain large and share counts stay stable, the filing points to patient exposure. If the manager changes share counts sharply, the next article should focus on allocation rather than price movement.

## FAQ

### What was the main signal in WASATCH ADVISORS LP's 2026Q1 13F?

HealthEquity was the largest reported position, and the top ten showed far less mega-cap overlap than broad-market portfolios.

### Is this a real-time portfolio?

No. It is a delayed 13F snapshot and should be used for position-change analysis, not trade timing.

---

Source: 13F Insight — https://13finsight.com/research/wasatch-q1-2026-small-mid-cap-growth-health-equity
Author: Marcus Chen — https://13finsight.com/authors/marcus-chen
Last updated: 2026-04-26T09:01:26.155Z