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Tenet Healthcare
THC

233 hedge funds and large institutions have $1.82B invested in Tenet Healthcare in 2017 Q4 according to their latest regulatory filings, with 41 funds opening new positions, 73 increasing their positions, 73 reducing their positions, and 50 closing their positions.

New
Increased
Maintained
Reduced
Closed

13% more call options, than puts

Call options by funds: $146M | Put options by funds: $129M

0% more repeat investments, than reductions

Existing positions increased: 73 | Existing positions reduced: 73

4% less funds holding

Funds holding: 243 → 233 (-10)

7.83% less ownership

Funds ownership: 126.88% → 119.04% (-7.8%)

13% less capital invested

Capital invested by funds: $2.1B → $1.82B (-$278M)

18% less first-time investments, than exits

New positions opened: 41 | Existing positions closed: 50

23% less funds holding in top 10

Funds holding in top 10: 13 → 10 (-3)

Holders
233
Holders Change
-10
Holders Change %
-4.12%
% of All Funds
5.28%
Holding in Top 10
10
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-23.08%
% of All Funds
0.23%
New
41
Increased
73
Reduced
73
Closed
50
Calls
$146M
Puts
$129M
Net Calls
+$16.6M
Net Calls Change
+$11.5M

Top Buyers

1
DKCM
Davidson Kempner Capital Management
New York
+$38M
2
LBA
Letko, Brosseau & Associates
Quebec, Canada
+$28.1M
3
NCM
Nantahala Capital Management
Connecticut
+$23.2M
4
Millennium Management
Millennium Management
New York
+$21M
5
Goldman Sachs
Goldman Sachs
New York
+$16.6M

Top Sellers

1
Franklin Resources
Franklin Resources
California
-$82.2M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$70.5M
3
HM
HealthCor Management
New York
-$22.2M
4
ACG
Anchorage Capital Group
New York
-$19.7M
5
CHCM
Columbus Hill Capital Management
New Jersey
-$14.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
Barclays
76
Barclays
United Kingdom
$2.51M +$1.07M +76,170 +85%
TCM
77
Tekla Capital Management
Massachusetts
$2.49M – – –
RhumbLine Advisers
78
RhumbLine Advisers
Massachusetts
$2.35M +$128K +9,078 +6%
UBS AM
79
UBS AM
Illinois
$2.29M -$8.42M -598,430 -80%
Allianz Asset Management
80
Allianz Asset Management
Germany
$2.22M -$926K -65,808 -31%
Citigroup
81
Citigroup
New York
$2.22M +$2.05M +145,394 +18,243%
TA
82
Teachers Advisors
New York
$2.21M -$5.73K -407 -0.3%
California State Teachers Retirement System (CalSTRS)
83
California State Teachers Retirement System (CalSTRS)
California
$2.11M -$15.7K -1,113 -0.8%
CCM
84
Contrarian Capital Management
Connecticut
$2.02M +$1.88M +133,375 New
SEC
85
Seven Eight Capital
New York
$1.96M +$1.82M +129,513 New
BCP
86
Berylson Capital Partners
Massachusetts
$1.92M +$1.78M +126,400 New
AllianceBernstein
87
AllianceBernstein
Tennessee
$1.89M -$196K -13,902 -10%
BNP Paribas Financial Markets
88
BNP Paribas Financial Markets
France
$1.79M +$134K +9,527 +9%
OAM
89
Oxford Asset Management
United Kingdom
$1.69M +$1.56M +110,990 New
SIM
90
Spark Investment Management
New York
$1.64M +$1.52M +107,900 New
Retirement Systems of Alabama
91
Retirement Systems of Alabama
Alabama
$1.58M +$4.86K +345 +0.3%
MSU
92
Mizuho Securities USA
New York
$1.52M +$232K +16,500 +20%
Parallax Volatility Advisers
93
Parallax Volatility Advisers
California
$1.48M +$891K +63,329 +184%
Federated Hermes
94
Federated Hermes
Pennsylvania
$1.48M -$91.7K -6,512 -6%
Royal Bank of Canada
95
Royal Bank of Canada
Ontario, Canada
$1.41M -$51.7K -3,676 -4%
MIM
96
MetLife Investment Management
New Jersey
$1.36M +$1.26M +89,581 New
New York State Common Retirement Fund
97
New York State Common Retirement Fund
New York
$1.32M – – –
Bank of America
98
Bank of America
North Carolina
$1.26M -$1.77M -125,763 -60%
PIA
99
Phoenix Investment Adviser
New York
$1.25M -$352K -25,000 -23%
Canada Life
100
Canada Life
Manitoba, Canada
$1.22M +$62K +4,402 +6%
2 3
4
5 6

THC Hedge Fund Activity: Q4 2017 in Review

233 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Tenet Healthcare (THC) for Q4 2017, worth a combined $1.82B — down 13% from $2.1B a quarter earlier.

Sellers outnumbered buyers: 50 funds closed out of THC and 41 opened new positions — a net loss of 9 holders — while 73 trimmed existing stakes and 73 added.

The largest buyer was Davidson Kempner Capital Management, adding an estimated $38M. The largest seller was Franklin Resources, exiting entirely with an estimated $82.2M sold.

  • 233 institutional investors held Tenet Healthcare (THC) as of Q4 2017, down from 243 in Q3 2017.
  • Funds reported $1.82B of Tenet Healthcare stock for Q4 2017, down 13% quarter-over-quarter.
  • 41 funds opened new Tenet Healthcare positions in Q4 2017 and 50 closed out, a net change of -9 holders.
  • The largest Tenet Healthcare buyer in Q4 2017 was Davidson Kempner Capital Management, an estimated $38M added.
  • The largest Tenet Healthcare seller in Q4 2017 was Franklin Resources, an estimated $82.2M sold.

Based on aggregated 13F filings for Q4 2017.