# Healthquest Capital Management, L.P.

> Healthquest Capital Management, L.P. is an SEC-registered investment advisory firm in Austin, TX, registered since 2023, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 296583
- Filed as: HEALTHQUEST CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Austin, TX
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/296583
- AdvisorCensus page: https://advisorcensus.com/firm/healthquest-capital-management-l-p-austin-tx-296583

## Quick answers

**How is Healthquest Capital Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Healthquest Capital Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Healthquest Capital Management, L.P. located?**
Healthquest Capital Management, L.P.'s principal office is in Austin, TX, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Healthquest Capital Management, L.P. registered with the SEC or a state?**
Healthquest Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 296583.

**How much does Healthquest Capital Management, L.P. manage?**
Healthquest Capital Management, L.P. reports $1,777,766,571 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have Healthquest Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Healthquest Capital Management, L.P.: Regulatory assets under management: $1,836,735,588 in the October 2023 data and $1,777,766,571 in the October 2026 data, down 3%. Total employees: 23 in October 2023 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Healthquest Capital Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (11).

**Does Healthquest Capital Management, L.P. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/296583

**What changed in Healthquest Capital Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 18 to 20.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $1,777,766,571
- Discretionary: $1,777,766,571
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 11 | $1,777,766,571 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2023 (3 years)
- Employees: 28 total, 20 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Redwood City, CA

### Websites listed on Form ADV (Item 1.I)
- healthquestcapital.com
- LinkedIn @healthquest-capital
- X @HealthQuest_Cap

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | March 30, 2021 |
| October 2022 | Not reported | Not reported | March 28, 2022 |
| October 2023 | $1,836,735,588 | 23 | July 20, 2023 |
| October 2024 | $1,815,565,479 | 22 | March 25, 2024 |
| October 2025 | $1,865,885,814 | 23 | May 5, 2025 |
| October 2026 | $1,777,766,571 | 28 | March 30, 2026 |

Regulatory assets under management: $1,836,735,588 in the October 2023 data and $1,777,766,571 in the October 2026 data, down 3%.
Total employees: 23 in October 2023 and 28 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 18 to 20.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Healthquest Capital Management, L.P. (CRD 296583): Form ADV filing data as of October 2026.