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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
Barclays
76
Barclays
United Kingdom
$26.5M -$22.5M -126,642 -49%
Swedbank
77
Swedbank
Sweden
$25.9M +$11M +62,257 +96%
BAMF
78
BI Asset Management Fondsmaeglerselskab
Denmark
$25.6M +$1.94M +10,951 +10%
RSCM
79
Rock Springs Capital Management
Maryland
$25.4M -$887K -5,000 -4%
EGM
80
Engineers Gate Manager
New York
$25.2M +$22.1M +124,330 New
AIM
81
AXA Investment Managers
France
$25.2M +$22M +123,957 New
TD Asset Management
82
TD Asset Management
Ontario, Canada
$24.7M -$1.01M -5,666 -4%
B
83
Braidwell
Connecticut
$24.7M +$21.6M +121,700 New
WAM
84
Winslow Asset Management
Ohio
$24.5M -$1.12M -6,310 -5%
PCM
85
Pentwater Capital Management
Florida
$22.3M +$19.5M +110,000 New
VOYA Investment Management
86
VOYA Investment Management
Georgia
$21.6M -$3.9M -22,009 -17%
IC
87
IEQ Capital
California
$21.4M +$8.26M +46,545 +79%
BGIM
88
Brandywine Global Investment Management
Pennsylvania
$21.3M +$7.66M +43,165 +70%
T. Rowe Price Investment Management
89
T. Rowe Price Investment Management
Maryland
$20.9M +$14.1M +79,411 +341%
Caisse de Depot et Placement du Quebec (CDPQ)
90
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$20.4M +$4.98M +28,068 +39%
Manulife (Manufacturers Life Insurance)
91
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$19.9M -$3.52M -19,855 -17%
FAM
92
Fred Alger Management
New York
$19.8M -$7.32M -41,267 -30%
QCM
93
Quantinno Capital Management
New York
$19.6M +$6.72M +37,853 +65%
GF
94
Gabelli Funds
New York
$19.4M -$7.45M -42,000 -31%
Thrivent Financial for Lutherans
95
Thrivent Financial for Lutherans
Minnesota
$19.2M +$3.68M +20,754 +28%
Wellington Management Group
96
Wellington Management Group
Massachusetts
$19M +$4.88M +27,479 +42%
HW
97
Hancock Whitney
Mississippi
$19M -$1.91M -10,783 -10%
RC
98
RBF Capital
California
$18.9M – – –
New York State Teachers Retirement System (NYSTRS)
99
New York State Teachers Retirement System (NYSTRS)
New York
$18.8M -$958K -5,401 -6%
GAI
100
General American Investors
New York
$18.6M -$2.66M -15,000 -14%
2 3
4
5 6

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.