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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
LSV Asset Management
51
LSV Asset Management
Illinois
$46.5M -$1.24M -7,000 -3%
UBS AM
52
UBS AM
Illinois
$46.4M -$23.8M -134,141 -37%
HF
53
HRT Financial
New York
$44.3M +$21.2M +119,241 +120%
Voloridge Investment Management
54
Voloridge Investment Management
Florida
$43.3M +$13.2M +74,459 +54%
EF
55
Empowered Funds
Pennsylvania
$42.3M +$4.3M +24,263 +13%
Principal Financial Group
56
Principal Financial Group
Iowa
$39.8M -$2.55M -14,357 -7%
WCM
57
Wedge Capital Management
North Carolina
$39.4M -$5.99M -33,748 -15%
BNP Paribas Financial Markets
58
BNP Paribas Financial Markets
France
$37.2M +$1.52M +8,588 +5%
Swiss National Bank
59
Swiss National Bank
Switzerland
$36.5M -$35.5K -200 -0.1%
First Trust Advisors
60
First Trust Advisors
Illinois
$36.5M -$14.7M -82,896 -32%
Goldman Sachs
61
Goldman Sachs
New York
$35.6M -$1.29M -7,278 -4%
ClearBridge Investments
62
ClearBridge Investments
New York
$35M -$169K -953 -0.6%
Retirement Systems of Alabama
63
Retirement Systems of Alabama
Alabama
$33.9M -$1.19M -6,704 -4%
California Public Employees Retirement System
64
California Public Employees Retirement System
California
$33.8M -$234K -1,318 -0.8%
Envestnet Asset Management
65
Envestnet Asset Management
Illinois
$33.2M -$864K -4,867 -3%
Legal & General Group
66
Legal & General Group
United Kingdom
$31.4M -$1.69M -9,501 -6%
PAM
67
Panagora Asset Management
Massachusetts
$30.8M +$25M +140,767 +1,280%
Deutsche Bank
68
Deutsche Bank
Germany
$30.5M +$18.3M +103,206 +220%
Lazard Asset Management
69
Lazard Asset Management
New York
$29.9M +$6.38M +35,936 +32%
8KM
70
8 Knots Management
Texas
$29.9M -$22.8M -128,387 -47%
Cerity Partners
71
Cerity Partners
New York
$29.3M +$4.16M +23,458 +19%
Walleye Capital
72
Walleye Capital
New York
$29.1M -$6.41M -36,108 -20%
WP
73
Woodline Partners
California
$28.2M +$2.74M +15,425 +12%
ITP
74
Iron Triangle Partners
Connecticut
$27.9M -$9.32M -52,552 -28%
FGP
75
Freestone Grove Partners
California
$27.2M -$16.6M -93,833 -41%
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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.