This Fund Dumped a $16 Million Waystar Stake as Shares Lagged the Market by Nearly 30 Points

1 day ago 4

Jonathan Ponciano, The Motley Fool

Sat, January 10, 2026 astatine 11:36 AM CST 5 min read

New Mexico-based Westwind Capital exited 420,897 shares of Waystar worthy an estimated $15.96 million.
The money reported holding nary Waystar shares astatine the extremity of the 4th quarter.
The presumption had represented 3.3% of money AUM successful the anterior quarter, marking a implicit exit from a antecedently important holding.
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On Friday, New Mexico-based Westwind Capital sold retired its full presumption successful Waystar (NASDAQ:WAY) for an estimated $15.96 cardinal based connected quarterly mean pricing.

In an SEC filing released Friday, Westwind Capital disclosed a merchantability of 420,897 shares of Waystar. The estimated worth of the transaction was $15.96 million. This liquidation reduced the fund’s involvement successful Waystar to zero shares astatine quarter-end.

Westwind Capital's Waystar involvement had represented 3.3% of AUM successful the anterior quarter.

Top holdings aft the filing:

NYSE:V: $39.51 cardinal (8.1% of AUM)
NYSE:MA: $38.89 cardinal (8.0% of AUM)
NASDAQ:GOOGL: $37.89 cardinal (7.7% of AUM)
NASDAQ:AMZN: $32.10 cardinal (6.6% of AUM)
NASDAQ:ISRG: $30.95 cardinal (6.3% of AUM)

As of Thursday, shares of Waystar were priced astatine $33.08; the banal declined 11.81% implicit the past twelvemonth and underperformed the S&P 500 by astir 30 percent points.

Metric

Value

Price (as of Thursday)	$33.08
Market Capitalization	$6 billion
Revenue (TTM)	$1.04 billion
Net Income (TTM)	$111.18 million

Waystar provides a cloud-based bundle level focused connected healthcare payments, including fiscal clearance, diligent fiscal care, claims and outgo management, denial prevention, gross capture, and analytics solutions.
Its concern exemplary centers connected offering software-as-a-service (SaaS) solutions to healthcare providers, generating gross done subscription and transaction-based fees.
The institution chiefly serves hospitals, doc groups, and different healthcare organizations seeking to streamline and optimize outgo workflows.

Waystar specializes successful cloud-based outgo solutions for the healthcare industry, enabling healthcare organizations to amended operational ratio and gross rhythm absorption done automation and analytics.

Portfolio exits are astir compelling erstwhile they chopped against improving fundamentals, and that hostility is precisely what stands retired here. Waystar precocious delivered different 4th of double-digit growth, posting third-quarter gross of $268.7 million, up 12% twelvemonth implicit year, alongside an adjusted EBITDA borderline of 42% and nett gross retention of 113%. Management besides raised full-year guidance and pointed to assurance successful some request and execution.

Yet Westwind Capital chose to afloat liquidate its presumption amid Waystar’s underperformance, with shares down astir 12% implicit the past year. That spread versus the broader marketplace apt matters much than the income statement. Westwind’s remaining portfolio is present dominated by mega-cap compounders similar Visa, Mastercard, Alphabet, Amazon, and Intuitive Surgical, a premix that emphasizes durability, liquidity, and accordant escaped currency travel implicit emerging level risk.

For semipermanent investors, this looks little similar a thesis interruption and much similar a portfolio-level decision. Waystar is inactive scaling profitably, generating $82 cardinal successful operating currency travel successful the 4th and benefiting from structural tailwinds successful healthcare payments automation. But it besides carries leverage and integration hazard pursuing caller acquisitions, which tin trial patience during uneven banal performance.