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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
AG
126
Aperio Group
California
$655K -$318K -22,608 -34%
EIM
127
Essex Investment Management
Massachusetts
$651K -$2.52K -179 -0.4%
SACTSONJ
128
Supplemental Annuity Collective Trust (SACT) of New Jersey
New Jersey
$606K – – –
MSA
129
Mason Street Advisors
Wisconsin
$603K -$3.52K -250 -0.6%
ADEF
130
Adams Diversified Equity Fund
Maryland
$572K -$155K -11,000 -23%
VOYA Investment Management
131
VOYA Investment Management
Georgia
$557K – – –
LCM
132
Laurion Capital Management
New York
$541K +$327K +23,200 +186%
WAM
133
Wolverine Asset Management
Illinois
$537K +$274K +19,502 +122%
RJA
134
Raymond James & Associates
Florida
$535K +$269K +19,145 +119%
FP
135
Factorial Partners
New York
$532K +$494K +35,100 New
Teacher Retirement System of Texas
136
Teacher Retirement System of Texas
Texas
$527K +$490K +34,781 New
Ohio Public Employees Retirement System (OPERS)
137
Ohio Public Employees Retirement System (OPERS)
Ohio
$522K – – –
CIBC World Market
138
CIBC World Market
Ontario, Canada
$516K +$214K +15,190 +81%
Tudor Investment Corp
139
Tudor Investment Corp
Connecticut
$482K +$447K +31,782 New
Wolverine Trading
140
Wolverine Trading
Illinois
$479K +$444K +31,565 New
IRC
141
Investors Research Corp
Georgia
$477K +$443K +31,475 New
AIP
142
Ameritas Investment Partners
Nebraska
$474K – – –
Schroder Investment Management Group
143
Schroder Investment Management Group
United Kingdom
$459K +$99.2K +7,051 +30%
SF
144
Synovus Financial
Georgia
$455K +$13.2K +940 +3%
OPERF
145
Oregon Public Employees Retirement Fund
Oregon
$454K +$4.6K +327 +1%
SOMRS
146
State of Michigan Retirement System
Michigan
$440K -$18.3K -1,300 -4%
First Trust Advisors
147
First Trust Advisors
Illinois
$418K +$94.9K +6,741 +32%
TI
148
Trexquant Investment
Connecticut
$413K +$383K +27,219 New
T. Rowe Price Associates
149
T. Rowe Price Associates
Maryland
$374K -$268K -19,012 -44%
MERSOM
150
Municipal Employees' Retirement System of Michigan
Michigan
$370K – – –
4 5
6
7 8

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.