Heritage Financial

HFWA • NASDAQ

Heritage Financial is a banks - regional company in the financial services sector on NASDAQ, led by Jeffrey J. Deuel, with a market cap of $861.5M. As of Q3 2025, 86% of shares are held by 170 institutional investors, with BlackRock, Inc. as the largest holder at 13.92%.

President and CEO of Heritage Financial CorpJeffrey J. Deuel

Market Cap$861.5M

Banks - Regional

Financial Services

Employees799.0

Websitehf-wa.com

Country

United States of America

Overview

Overview of institutional ownership in HFWA as of Q3 2025 with a market cap of $821.3M

All Institutions

Institutions: 170
Value Held: $706.1M
Shares Held: 29.2M
Avg Position: $4.2M
Median Position: $389.6K

Hedge Funds

Hedge Funds: 11
Value Held: $41.0M
Shares Held: 1.7M
Avg Position: $3.7M
Median Position: $3.1M

Ownership Breakdown

Institutional (non-HF)

80.97%

$665.1M

Hedge Funds

4.99%

$41.0M

Retail & Other

14.03%

$115.3M

Based on market cap of $821.3M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in HFWA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$114.4M 0.00% of portfolio	13.92% 4.7M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
JENNISON ASSOCIATES LLC Long Only Manager	Jeffrey Todd Becker CEO	$74.5M 0.04% of portfolio	9.07% 3.1M shares	Q1 2024 Held for 1y 8m	$171.73B
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$63.5M 0.04% of portfolio	7.74% 2.6M shares	Q4 2024 Held for 11 months	$158.22B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$57.3M 0.00% of portfolio	6.97% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$49.1M 0.01% of portfolio	5.97% 2.0M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$36.9M 0.00% of portfolio	4.49% 1.5M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$32.5M 0.01% of portfolio	3.96% 1.3M shares	≤ Q2 2013 Held for 12y 5m+	$317.45B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$20.3M 0.00% of portfolio	2.47% 838.4K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$12.2M 0.01% of portfolio	1.48% 502.9K shares	Q1 2023 Held for 2y 8m	$158.92B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$11.2M 0.00% of portfolio	1.36% 463.4K shares	Q3 2025 Held for 2 months	$571.21B

Net Capital Flow

Institutional buying and selling activity for HFWA in Q3 2025

Traded: +$10.5M
Buyers: 73
Sellers: 84
Total Bought: +$41.0M
Total Sold: −$30.5M
Avg Position: $3.7M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$11.2M +463.4K shares	$11.2M 463.4K shares
A Algebris Ltd Institution	+$10.8M +445.8K shares	$10.8M 445.8K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	+$5.3M +220.3K shares	$63.5M 2.6M shares
JENNISON ASSOCIATES LLC Long Only Manager	+$2.5M +102.7K shares	$74.5M 3.1M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$1.8M +73.6K shares	$6.2M 256.6K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$1.7M +69.9K shares	$5.1M 210.3K shares
R Russell Investments Group, Ltd. RIA/Wealth	+$1.0M +43.0K shares	$3.4M 140.8K shares
BANK OF AMERICA CORP /DE/ Institution	+$850.3K +35.2K shares	$5.2M 215.7K shares
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	+$743.2K +30.7K shares	$1.4M 58.0K shares
D DEPRINCE RACE & ZOLLO INC Long Only Manager	+$646.5K +26.7K shares	$1.7M 70.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
B BlackRock, Inc. Institution	−$4.0M −167.2K shares	$114.4M 4.7M shares
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	−$2.0M −84.5K shares	Sold Off 0 shares
Trexquant Investment LP Hedge Fund•Quant	−$1.8M −77.5K shares	Sold Off 0 shares
STATE STREET CORP Institution	−$1.5M −62.6K shares	$36.9M 1.5M shares
KILEY JUERGENS WEALTH MANAGEMENT, LLC RIA/Wealth	−$1.3M −55.4K shares	$4.3M 177.4K shares
VANGUARD GROUP INC Institution	−$1.3M −52.8K shares	$57.3M 2.4M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$1.1M −47.4K shares	$1.2M 51.4K shares
AMERIPRISE FINANCIAL INC Institution	−$1.1M −44.7K shares	$8.4M 349.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$935.8K −38.7K shares	$459.4K 19.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$863.7K −35.7K shares	$6.9M 285.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited HFWA in Q3 2025

New Positions: 9
New Value: $10.8M
Exited Positions: 18
Exited Value: $8.6M

New Positions

Institution	Position Value
A Algebris Ltd Institution	$10.8M 445.8K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$9.6K 395.0 shares
Sontag Advisory, LLC RIA/Wealth	$9.1K 375.0 shares
Triumph Capital Management RIA/Wealth	$4.8K 200.0 shares
S Salomon & Ludwin, LLC Institution	$4.6K 191.0 shares
O Optiver Holding B.V. Institution	$4.3K 176.0 shares
C Cedar Mountain Advisors, LLC RIA/Wealth	$2.5K 102.0 shares
V Vermillion Wealth Management, Inc. RIA/Wealth	$435.0 18.0 shares
R Root Financial Partners, LLC RIA/Wealth	$363.0 15.0 shares

Exited Positions

Institution	Previous Position
PANAGORA ASSET MANAGEMENT INC Hedge Fund•Quant	$2.0M 84.5K shares
Trexquant Investment LP Hedge Fund•Quant	$1.8M 77.5K shares
ARP AMERICAS LLC Hedge Fund•Multi-Strategy	$815.3K 34.2K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$809.7K 34.0K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$794.2K 33.3K shares
D Dynamic Technology Lab Private Ltd Institution	$750.0K 31.5K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$504.3K 21.2K shares
Mariner Wealth Advisors, LLC RIA/Wealth	$253.6K 10.6K shares
M Maryland State Retirement & Pension System Institution	$236.5K 9.9K shares
Diversified Trust Co RIA/Wealth	$209.7K 8.8K shares

Options Activity

Institutions with the largest Call and Put options positions in HFWA as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 2
Put Value: $621.7K

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$621.7K 257.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with HFWA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
A Algebris Ltd Institution	-	1.35% $10.8M	1.31% 445.8K shares	Q3 2025 Held for 2 months	$799.8M
KILEY JUERGENS WEALTH MANAGEMENT, LLC RIA/Wealth	Martin Edwin Juergens CEO	0.95% $4.3M	0.52% 177.4K shares	Q4 2017 Held for 7y 11m	$452.9M
M MARTIN & CO INC /TN/ RIA/Wealth	Michael Wright Holt CEO	0.57% $3.2M	0.39% 132.6K shares	Q2 2014 Held for 11y 5m	$561.9M
H HEARTLAND ADVISORS INC Long Only Manager	William Richard Nasgovitz CEO	0.35% $6.7M	0.81% 275.0K shares	≤ Q2 2013 Held for 12y 5m+	$1.9B
B BASSWOOD CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	Bennett David Lindenbaum Managing Partner	0.26% $5.6M	0.68% 230.7K shares	Q1 2018 Held for 7y 8m	$2.2B
Pacific Ridge Capital Partners, LLC Long Only Manager	Mark Daniel Cooper President	0.22% $1.0M	0.12% 42.0K shares	Q2 2023 Held for 2y 5m	$460.6M
Dana Investment Advisors, Inc. Long Only Manager	Mark Richard Mirsberger CEO	0.16% $5.3M	0.65% 220.7K shares	Q1 2024 Held for 1y 8m	$3.3B
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.13% $6.3M	0.77% 260.2K shares	Q3 2020 Held for 5y 2m	$4.7B
GLOBEFLEX CAPITAL L P Long Only Manager	Marina Loretta Marrelli CEO	0.10% $660.4K	0.08% 27.3K shares	Q4 2023 Held for 1y 11m	$644.8M
Mengis Capital Management, Inc. RIA/Wealth	Joseph Jeffrey Mengis President	0.10% $491.3K	0.06% 20.3K shares	Q3 2018 Held for 7y 2m	$499.7M