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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
Vanguard Group
1
Vanguard Group
Pennsylvania
$1.83B -$80.3M -452,814 -5%
BlackRock
2
BlackRock
New York
$1.74B -$70.3M -396,379 -4%
Fidelity Investments
3
Fidelity Investments
Massachusetts
$1.61B -$83.5M -470,873 -6%
T. Rowe Price Associates
4
T. Rowe Price Associates
Maryland
$1.5B +$25.7M +144,704 +2%
Boston Partners
5
Boston Partners
Massachusetts
$639M +$156M +880,413 +39%
State Street
6
State Street
Massachusetts
$555M -$25.7M -144,948 -5%
GCM
7
Glenview Capital Management
New York
$472M -$108M -606,326 -21%
Invesco
8
Invesco
Georgia
$432M -$121M -681,050 -24%
AQR Capital Management
9
AQR Capital Management
Connecticut
$381M +$128M +720,160 +62%
Ameriprise
10
Ameriprise
Minnesota
$373M -$50.3M -283,312 -13%
Geode Capital Management
11
Geode Capital Management
Massachusetts
$361M -$67.5M -380,355 -18%
Dimensional Fund Advisors
12
Dimensional Fund Advisors
Texas
$270M -$26.6M -150,154 -10%
EC
13
Eminence Capital
New York
$225M +$197M +1,109,450 New
Bank of America
14
Bank of America
North Carolina
$219M +$16.8M +94,903 +10%
Citadel Advisors
15
Citadel Advisors
Florida
$214M -$137M -772,360 -42%
N
16
Nuveen
North Carolina
$209M +$60.1M +338,827 +49%
Northern Trust
17
Northern Trust
Illinois
$163M -$5.37M -30,270 -4%
Morgan Stanley
18
Morgan Stanley
New York
$161M +$46.4M +261,555 +49%
AllianceBernstein
19
AllianceBernstein
Tennessee
$153M -$6.76M -38,078 -5%
D.E. Shaw & Co
20
D.E. Shaw & Co
New York
$151M -$11.2M -63,358 -8%
Millennium Management
21
Millennium Management
New York
$151M -$47M -264,860 -26%
Bank of New York Mellon
22
Bank of New York Mellon
New York
$146M -$7.03M -39,609 -5%
Raymond James Financial
23
Raymond James Financial
Florida
$134M -$1.88M -10,614 -2%
Charles Schwab
24
Charles Schwab
California
$129M -$3.76M -21,193 -3%
Victory Capital Management
25
Victory Capital Management
Texas
$125M -$384K -2,165 -0.3%
1
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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.