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Tenet Healthcare
THC

257 hedge funds and large institutions have $1.51B invested in Tenet Healthcare in 2016 Q4 according to their latest regulatory filings, with 55 funds opening new positions, 82 increasing their positions, 84 reducing their positions, and 59 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

3% more call options, than puts

Call options by funds: $43.6M | Put options by funds: $42.3M

0.01% less ownership

Funds ownership: 102.12% → 102.1% (-0.01%)

2% less repeat investments, than reductions

Existing positions increased: 82 | Existing positions reduced: 84

7% less first-time investments, than exits

New positions opened: 55 | Existing positions closed: 59

3% less funds holding

Funds holding: 264 → 257 (-7)

34% less capital invested

Capital invested by funds: $2.29B → $1.51B (-$779M)

Holders
257
Holders Change
-7
Holders Change %
-2.65%
% of All Funds
6.42%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.07%
New
55
Increased
82
Reduced
84
Closed
59
Calls
$43.6M
Puts
$42.3M
Net Calls
+$1.31M
Net Calls Change
+$929K

Top Buyers

Rank Fund Capital Flow
1
O
OrbiMed
New York
+$30.9M
2
EM
Elliott Management
New York
+$26.8M
3
Renaissance Technologies
Renaissance Technologies
New York
+$23.8M
4
Invesco
Invesco
Georgia
+$18.2M
5
HI
HBK Investments
Texas
+$14.6M

Top Sellers

Rank Fund Capital Flow
1
CCM
Camber Capital Management
Massachusetts
-$56.6M
2
LCOV
London Company of Virginia
Virginia
-$28.1M
3
Harris Associates
Harris Associates
Illinois
-$17.1M
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$16.5M
5
QF
QVT Financial
New York
-$15.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
State Board of Administration of Florida Retirement System
76
State Board of Administration of Florida Retirement System
Florida
$2.17M – – –
GC
77
Guggenheim Capital
Illinois
$2.04M +$899K +50,135 +57%
JG
78
Jefferies Group
New York
$1.98M +$1.14M +63,552 +91%
Wells Fargo
79
Wells Fargo
California
$1.98M -$27.5K -1,535 -1%
HSBC Holdings
80
HSBC Holdings
United Kingdom
$1.97M -$68K -3,792 -3%
CG
81
Cutler Group
California
$1.97M +$1.44M +80,172 +152%
Federated Hermes
82
Federated Hermes
Pennsylvania
$1.96M -$1.57M -87,434 -40%
NFA
83
Nationwide Fund Advisors
Ohio
$1.95M -$46.5K -2,594 -2%
TA
84
Teachers Advisors
New York
$1.93M -$1.95M -108,545 -45%
CA
85
Continental Advisors
Utah
$1.9M +$124K +6,900 +6%
FQ
86
First Quadrant
California
$1.79M – – –
BSP
87
Benefit Street Partners
New York
$1.7M +$2.05M +114,493 New
UBS AM
88
UBS AM
Illinois
$1.65M -$285K -15,900 -13%
BlackRock
89
BlackRock
New York
$1.63M -$1.45M -80,881 -42%
Manulife (Manufacturers Life Insurance)
90
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$1.62M -$8.63K -481 -0.4%
SFM
91
Systematic Financial Management
New Jersey
$1.61M +$657K +36,605 +51%
Retirement Systems of Alabama
92
Retirement Systems of Alabama
Alabama
$1.53M +$6.06K +338 +0.3%
ERSOT
93
Employees Retirement System of Texas
Texas
$1.47M – – –
UBS Group
94
UBS Group
Switzerland
$1.46M -$411K -22,905 -19%
PCM
95
Proxima Capital Management
New York
$1.42M – – –
QIM
96
Quantitative Investment Management
Virginia
$1.42M +$1.72M +95,800 New
ST
97
Spot Trading
Illinois
$1.38M +$825K +45,983 +98%
MC
98
Menta Capital
California
$1.35M +$727K +40,500 +80%
State of Tennessee, Department of Treasury
99
State of Tennessee, Department of Treasury
Tennessee
$1.34M -$1.44M -80,000 -47%
NSEDCP
100
NJ State Employees Deferred Compensation Plan
New Jersey
$1.26M – – –
2 3
4
5 6

THC Hedge Fund Activity: Q4 2016 in Review

257 of the 4,000 institutional investors tracked by Wall St. Rank reported a position in Tenet Healthcare (THC) for Q4 2016, worth a combined $1.51B — down 34% from $2.29B a quarter earlier.

Sellers outnumbered buyers: 59 funds closed out of THC and 55 opened new positions — a net loss of 4 holders — while 84 trimmed existing stakes and 82 added.

The largest buyer was OrbiMed, adding an estimated $30.9M. The largest seller was Camber Capital Management, exiting entirely with an estimated $56.6M sold.

  • 257 institutional investors held Tenet Healthcare (THC) as of Q4 2016, down from 264 in Q3 2016.
  • Funds reported $1.51B of Tenet Healthcare stock for Q4 2016, down 34% quarter-over-quarter.
  • 55 funds opened new Tenet Healthcare positions in Q4 2016 and 59 closed out, a net change of -4 holders.
  • The largest Tenet Healthcare buyer in Q4 2016 was OrbiMed, an estimated $30.9M added.
  • The largest Tenet Healthcare seller in Q4 2016 was Camber Capital Management, an estimated $56.6M sold.

Based on aggregated 13F filings for Q4 2016.