Key Points
Acquired 312,234 shares of HeartFlow, estimated at ~$10.51 million based on quarterly average price
Post-trade position: 312,234 shares, valued at $10.51 million as of 2025-09-30
New position places HeartFlow outside the fund’s top five holdings by reported value
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On November 04, 2025, Board of Trustees of The Leland Stanford Junior University disclosed a new stake in HeartFlow (NASDAQ:HTFL), acquiring 312,234 shares estimated at $10.51 million as of Q3 2025.
What happened
According to a filing with the U.S. Securities and Exchange Commission dated November 04, 2025, Board of Trustees of The Leland Stanford Junior University initiated a new position in HeartFlow (NASDAQ:HTFL). The fund reported purchasing 312,234 shares, at an estimated transaction value of $10.51 million.
What else to know
This new position represents approximately 1.24% of the fund’s $850.75 million in reportable assets under management as of Q3 2025.
Top holdings after the filing:
- EFA: $312.46 million, representing 36.7% of AUM as of Q3 2025
- NASDAQ:GOOGL: $190.77 million, or 22.4% of AUM as of Q3 2025
- EEM: $189.22 million, or 22.2% of AUM as of 2025-09-30
- EWJ: $77.91 million, or 9.2% of AUM as of Q3 2025
- NASDAQ:LNW: $22.26 million, or 2.6% of AUM as of 2025-09-30
HeartFlow shares closed at $33.89 as of Novemeber 4th, 2025. Over the past 12 months, HTFL has outperformed S&P 500 by 33.1%.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close Nov 4th, 2025) | $33.89 |
| Market Capitalization | $2.83 billion |
| Revenue (TTM) | $138.53 million |
| Net Income (TTM) | ($85.85 million) |
Company Snapshot
HeartFlow provides non-invasive AI-powered diagnostic solutions for coronary artery disease, with its core platform generating 3D heart models from coronary CT angiography scans.
The company’s business model centers on providing its HeartFlow platform to healthcare providers, generating revenue through usage-based or subscription arrangements.
HeartFlow’s primary customers are hospitals, cardiology clinics, and healthcare systems seeking advanced cardiac diagnostic tools for improved patient care.
HeartFlow, Inc. leverages artificial intelligence and computational fluid dynamics to deliver advanced cardiac imaging solutions, enabling more precise diagnosis and management of coronary artery disease. The platform provides actionable insights for healthcare providers.
Foolish take
Stanford’s Board of Trustees has taken a new position in HeartFlow that stands out in a portfolio anchored by a broad range of global ETFs. The position is modest but intentional, providing the endowment with early exposure to a company at the forefront of AI-assisted diagnostics that has grown close to Stanford’s own academic and clinical network.
HeartFlow is developing a platform that aims to transform the way coronary artery disease is diagnosed and managed. Instead of sending patients to complex catheterization procedures, HeartFlow’s technology converts CT scans into detailed three-dimensional models of the heart and simulates blood flow to identify blockages with far greater precision. This matters because coronary artery disease is one of the most common and costly conditions globally, and hospitals are under pressure to improve accuracy while reducing unnecessary procedures.
The company is growing rapidly and maintains margins that reflect the scalability of its software-driven model. However, the company remains early in its commercial life. The long-term vision is a suite of AI-powered tools that become embedded in everyday cardiac workflows, from diagnosis to treatment planning and beyond. The company’s current adoption curve will determine how quickly that vision takes shape.
For investors, the indicators that matter most are those that show HeartFlow transitioning from promise to routine use. The most evident signs will come from procedure volumes and the frequency with which hospitals utilize the platform in their day-to-day work. It is also worth tracking how efficiently the company manages its losses as revenue grows, since the path to scale will shape the durability of the business. If HeartFlow earns a consistent place in everyday cardiac care, it could shift from an early-stage innovator into a defining medtech company of the next decade. That possibility is what makes HeartFlow's story worth following closely.
Glossary
Stake: An ownership interest or investment in a company, typically represented by shares.
Assets Under Management (AUM): The total market value of investments managed by a fund or institution on behalf of clients.
Top Holdings: The largest investments in a fund's portfolio, ranked by their value or percentage of total assets.
Alpha: A measure of an investment's performance relative to a benchmark, indicating outperformance or underperformance.
Position: The amount of a particular security or asset held in a portfolio.
Filing: An official document submitted to a regulatory authority, often disclosing financial or ownership information.
Coronary CT Angiography: A medical imaging technique using CT scans to visualize the heart's arteries.
Computational Fluid Dynamics: The use of computer simulations to analyze fluid flow, applied here to model blood movement in the heart.
Non-invasive: A medical procedure or technology that does not require entering the body or breaking the skin.
Reportable Assets: The portion of a fund's assets that must be disclosed in regulatory filings.
Initiated a New Position: When an investor or fund buys a security for the first time, creating a new holding.
TTM: The 12-month period ending with the most recent quarterly report.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Light & Wonder Inc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
