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SCHEDULE 13D Filed 2026-06-22 Event 2026-06-12 SEC 0001104659-26-076342 →

Palogic Value Management, L.P. Health Catalyst, Inc. HCAT

Stake: 6.70% Shares: 4,918,866 CUSIP: 42225T107 Class: Common Stock, par value $0.001 per share

Item 4 — Purpose of Transaction

On June 12, 2026, the Reporting Persons' aggregate share ownership crossed the applicable reporting threshold. The Reporting Persons acquired shares of Common Stock of the Issuer in the ordinary course of business for investment purposes. On June 22, 2026, the Palogic Value Management sent a letter (the "Letter") to the Issuer expressing support for the recent appointment of Ben Albert as Chief Executive Officer and as a member of the Board of Directors of the Issuer, and the Issuer's announced divestiture of VitalWare. The foregoing description of the Letter does not purport to be complete and is qualified in its entirety by the full text of the Letter, which is attached hereto as Exhibit 99.3 and incorporated herein by reference. The Reporting Persons have in the past, and may in the future, engage in discussions with the Issuer's management, board of directors, and/or other shareholders covering a broad range of subjects, including relative to performance, strategic direction, capital allocation, shareholder value, composition of the board of directors, and governance of the Issuer. Depending upon each factor discussed above and any other factor (which may be unknown at this time) that is, or may become relevant, the Reporting Persons may consider, among other things: (a) the acquisition by the Reporting Persons of additional securities of the Issuer, the disposition of securities of the Issuer, the exercise of convertible securities of the Issuer, or engaging in short selling of or any hedging or similar transaction with respect to the shares of Common Stock of the Issuer, including swaps and other derivative transactions; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) changes in the present board of directors or management of the Issuer; (e) a material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) changes in the Issuer's articles of incorporation, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) causing any class of the Issuer's securities to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; (j) any action similar to those enumerated above. The Reporting Persons intend to review their investment in the Issuer on a continuing basis taking into consideration various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for shares of Common Stock of the Issuer in particular, as well as other developments and other investment opportunities. Based upon such review, the Reporting Persons will take such actions in the future as the Reporting Persons may deem appropriate in light of the circumstances existing from time to time, which may include further acquisitions of shares of Common Stock of the Issuer or disposal of some or all of the shares of Common Stock of the Issuer owned by the Reporting Persons or otherwise acquired by the Reporting Persons, either in the open market or in privately negotiated transactions. Any open market or privately negotiated purchases or sales, acquisition recommendations or proposals or other transactions concerning the Issuer may be made at any time without prior notice. Any alternative may depend upon a variety of factors, including, without limitation, current and anticipated future trading prices of the securities, the financial condition, results of operations and prospects of the Issuer and general industry conditions, the availability, form and terms of financing, other investment and business opportunities, general stock market and economic conditions, tax considerations and other factors. Except to the extent that the foregoing may be deemed to be a plan or proposal, none of the Reporting Persons currently has any plans or proposals that relate to or would result in any of the actions specified in clause (a) through (j) of Item 4 of Schedule 13D. Depending upon the foregoing factors and to the extent deemed advisable in light of their general investment policies, or other factors, the Reporting Persons may, at any time and from time to time, formulate other purposes, plans or proposals regarding the Issuer or shares of Common Stock of the Issuer, or any other actions that could involve one or more of the types of transactions or have one or more of the results described in paragraphs (a) through

Cross-References

Insider Activity (last 365d)
0 transactions
0 buys · 0 sales · 0 awards/exercises
Issuer Cluster
3 13D/G filings on this issuer
2 other filings besides this one
Filer Track Record
11 filings by this filer
10 other filings in the data moat
Short Interest · settle 2026-07-15
DTC 3.78
3,645,405 shares short · -20.7% vs prior

Post-Filing Returns · since 2026-06-12 on HCAT

+1 day
0.0%
+5 days
0.0%
+30 days
+0.9%
+60 days
+90 days
+180 days

Anchor price 2.27 on closest trading day on/after 2026-06-12. Source: Yahoo Finance daily adj_close (split + dividend adjusted).

Other 13D/G Filings on Health Catalyst, Inc.

FiledFormFilerStakeShares
2026-07-21 SCHEDULE 13G Impax Asset Management Group plc view →
2026-06-08 SCHEDULE 13D/A Whetstone Capital Advisors, LLC 4.50% 3,285,690 view →

Other Filings by Palogic Value Management, L.P.

FiledFormIssuerStakeShares
2023-10-13 SC BSQUARE CORP /WA view →
2021-06-14 SC BSQUARE CORP /WA view →
2020-03-10 SC BSQUARE CORP /WA view →
2019-11-21 SC BSQUARE CORP /WA view →
2019-11-15 SC Qumu Corp view →
2019-09-12 SC Orion Group Holdings Inc ORN view →
2019-07-18 SC Orion Group Holdings Inc ORN view →
2019-07-12 SC Qumu Corp view →
2019-05-20 SC BSQUARE CORP /WA view →
2019-05-06 SC Qumu Corp view →

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