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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
TFM
676
TFC Financial Management
Massachusetts
$204 – – –
ACA
677
American Capital Advisory
Idaho
$204 +$177 +1 New
PWA
678
Principia Wealth Advisory
Texas
$203 -$177 -1 -50%
CFD
679
Creative Financial Designs
Indiana
$203 – – –
PWAM
680
Private Wealth Asset Management
Iowa
$203 – – –
Norges Bank
681
Norges Bank
Norway
– -$207M -1,176,030 Closed
Holocene Advisors
682
Holocene Advisors
New York
– -$103M -584,404 Closed
O
683
OrbiMed
New York
– -$81.8M -465,000 Closed
GAM
684
Goldentree Asset Management
New York
– -$31.5M -179,183 Closed
Alyeska Investment Group
685
Alyeska Investment Group
Illinois
– -$25.6M -145,466 Closed
DCM
686
DG Capital Management
New York
– -$23.7M -134,644 Closed
Axa
687
Axa
France
– -$22.6M -128,637 Closed
APM
688
Avidity Partners Management
Texas
– -$18.7M -106,000 Closed
ACH
689
ArrowMark Colorado Holdings
Colorado
– -$7.64M -43,400 Closed
KCM
690
Kingdon Capital Management
New York
– -$6.65M -37,800 Closed
EIM
691
Essex Investment Management
Massachusetts
– -$3.56M -20,234 Closed
DF
692
Donoghue Forlines
Massachusetts
– -$2.95M -16,743 Closed
WA
693
Wealthstream Advisors
New York
– -$2.36M -13,411 Closed
SGA
694
Sector Gamma AS
Norway
– -$2.2M -12,500 Closed
IEFM
695
IQ EQ Fund Management
Ireland
– -$2.1M -11,957 Closed
JFG
696
Jefferies Financial Group
New York
– -$2.06M -11,714 Closed
Skandinaviska Enskilda Banken (SEB)
697
Skandinaviska Enskilda Banken (SEB)
Sweden
– -$1.53M -8,700 Closed
WIM
698
WealthPlan Investment Management
Nebraska
– -$1.48M -8,426 Closed
IMRF
699
Illinois Municipal Retirement Fund
Illinois
– -$1.29M -7,315 Closed
MC
700
Maverick Capital
Texas
– -$1.18M -6,729 Closed
26 27
28
29 30

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.