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Tenet Healthcare
THC

680 hedge funds and large institutions have $17B invested in Tenet Healthcare in 2025 Q3 according to their latest regulatory filings, with 128 funds opening new positions, 207 increasing their positions, 260 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 128 | Existing positions closed: 64

27% more call options, than puts

Call options by funds: $397M | Put options by funds: $313M

11% more capital invested

Capital invested by funds: $15.2B → $17B (+$1.74B)

9% more funds holding

Funds holding: 626 → 680 (+54)

1.41% more ownership

Funds ownership: 93.2% → 94.61% (+1.4%)

20% less repeat investments, than reductions

Existing positions increased: 207 | Existing positions reduced: 260

28% less funds holding in top 10

Funds holding in top 10: 18 → 13 (-5)

Holders
680
Holders Change
+54
Holders Change %
+8.63%
% of All Funds
8.93%
Holding in Top 10
13
Holding in Top 10 Change
-5
Holding in Top 10 Change %
-27.78%
% of All Funds
0.17%
New
128
Increased
207
Reduced
260
Closed
64
Calls
$397M
Puts
$313M
Net Calls
+$84M
Net Calls Change
-$13.9M

Top Buyers

1
EC
Eminence Capital
New York
+$197M
2
Boston Partners
Boston Partners
Massachusetts
+$156M
3
AQR Capital Management
AQR Capital Management
Connecticut
+$128M
4
WCM Investment Management
WCM Investment Management
California
+$64.2M
5
Point72 Asset Management
Point72 Asset Management
Connecticut
+$63.8M

Top Sellers

1
Citadel Advisors
Citadel Advisors
Florida
-$137M
2
Invesco
Invesco
Georgia
-$121M
3
GCM
Glenview Capital Management
New York
-$108M
4
Holocene Advisors
Holocene Advisors
New York
-$103M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$83.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
Pacer Advisors
26
Pacer Advisors
Pennsylvania
$109M -$9.18M -51,729 -9%
WCM Investment Management
27
WCM Investment Management
California
$103M +$64.2M +362,083 +244%
KCM
28
Khrom Capital Management
Florida
$102M -$8.99M -50,643 -9%
UBS Group
29
UBS Group
Switzerland
$99.9M +$34.1M +192,060 +64%
Allianz Asset Management
30
Allianz Asset Management
Germany
$99M -$1.51M -8,534 -2%
Point72 Asset Management
31
Point72 Asset Management
Connecticut
$96.2M +$63.8M +359,499 +314%
PHS
32
PFM Health Sciences
California
$93.7M -$6.67M -37,589 -8%
Marshall Wace
33
Marshall Wace
United Kingdom
$90.3M +$981K +5,529 +1%
BGDI
34
BW Gestao de Investimentos
Brazil
$84.9M -$2.1M -11,860 -3%
FCM
35
Farallon Capital Management
California
$84.1M -$20.4M -115,000 -22%
JP Morgan Chase
36
JP Morgan Chase
New York
$83.7M +$947K +5,336 +1%
Allspring Global Investments
37
Allspring Global Investments
North Carolina
$81.5M -$3.87M -21,795 -5%
Adage Capital Partners
38
Adage Capital Partners
Massachusetts
$80.3M +$6.84M +38,540 +11%
Arrowstreet Capital
39
Arrowstreet Capital
Massachusetts
$75.5M -$37.1M -209,107 -36%
Citigroup
40
Citigroup
New York
$75M -$5.22M -29,416 -7%
Assenagon Asset Management
41
Assenagon Asset Management
Luxembourg
$73.9M +$49.6M +279,377 +331%
Jane Street
42
Jane Street
New York
$73.7M +$33.9M +190,977 +111%
Balyasny Asset Management
43
Balyasny Asset Management
Illinois
$70.3M +$60.7M +342,215 +8,717%
Royal Bank of Canada
44
Royal Bank of Canada
Ontario, Canada
$61.4M +$29.6M +166,763 +123%
IHAM
45
Integral Health Asset Management
New York
$60.9M +$4.44M +25,000 +9%
Franklin Resources
46
Franklin Resources
California
$58M -$3.87M -21,822 -7%
SEI Investments
47
SEI Investments
Pennsylvania
$56.2M -$2.16M -12,193 -4%
Prudential Financial
48
Prudential Financial
New Jersey
$55.5M -$9.02M -50,822 -16%
Wells Fargo
49
Wells Fargo
California
$48.9M -$5.43M -30,589 -11%
RhumbLine Advisers
50
RhumbLine Advisers
Massachusetts
$48.5M -$2.23M -12,556 -5%
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THC Hedge Fund Activity: Q3 2025 in Review

680 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Tenet Healthcare (THC) for Q3 2025, worth a combined $17B — up 11% from $15.2B a quarter earlier.

Buyers outnumbered sellers: 128 funds opened new THC positions and 64 closed out — a net gain of 64 holders — while 207 added to existing stakes and 260 trimmed.

The largest buyer was Eminence Capital, opening a new position worth an estimated $197M. The largest seller was Citadel Advisors, cutting an estimated $137M.

  • 680 institutional investors held Tenet Healthcare (THC) as of Q3 2025, up from 626 in Q2 2025.
  • Funds reported $17B of Tenet Healthcare stock for Q3 2025, up 11% quarter-over-quarter.
  • 128 funds opened new Tenet Healthcare positions in Q3 2025 and 64 closed out, a net change of +64 holders.
  • The largest Tenet Healthcare buyer in Q3 2025 was Eminence Capital, an estimated $197M added.
  • The largest Tenet Healthcare seller in Q3 2025 was Citadel Advisors, an estimated $137M sold.

Based on aggregated 13F filings for Q3 2025.