8 Knots Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), 8 Knots Management, LLC reported 16 stock positions worth $697.8 million. Its top holding was Humana (HUM) at 15.5% of the portfolio, followed by Pennant (PNTG, 11.3%) and Encompass Health (EHC, 11.3%). Compared with Q1 2025, it opened 8 new positions, sold out of 10, added to 4 and reduced 4. The biggest buy was Humana (HUM, shares +671%) and the biggest sale an exit from Centene (CNC).
- Most Recent 13F
- Q4 2025
- Location
- DALLAS, TX
- CIK
- 0001849457
- Portfolio Value
- $697.8M (Q2 2025)
- SEC Filing
- 0001849457-25-000003 ↗ filed Aug 14, 2025
Holdings Value
Holdings 16 stocks · $697.8M
| HUM Humana Inc. | 15.47% | 441,623 | $108.0M | Add +671.0% |
| PNTG The Pennant Group Inc. | 11.35% | 2,652,806 | $79.2M | Reduce -12.0% |
| EHC Encompass Health Corp. | 11.27% | 641,314 | $78.6M | New |
| ALHC Alignment Healthcare Inc. | 10.06% | 5,015,881 | $70.2M | Add +6.4% |
| CAH Cardinal Health Inc. | 7.20% | 299,258 | $50.3M | Add +12.4% |
| THC Tenet Healthcare Corp. | 6.95% | 275,559 | $48.5M | New |
| PREMIER INC-CLASS A | 5.32% | 1,694,066 | $37.2M | New |
| EHAB Enhabit Inc. | 5.32% | 3,853,067 | $37.1M | Reduce -22.8% |
| EVH Evolent Health Inc. Class A | 4.70% | 2,913,135 | $32.8M | New |
| DGX Quest Diagnostics Inc. | 4.54% | 176,538 | $31.7M | Add +42.9% |
| LH Labcorp Holdings Inc. | 3.92% | 104,184 | $27.3M | New |
| SEM Select Medical Holdings Corp. | 3.81% | 1,750,188 | $26.6M | New |
| CI The Cigna Group | 3.77% | 79,617 | $26.3M | New |
| ACHC Acadia Healthcare Co. Inc. | 2.75% | 844,850 | $19.2M | Reduce -35.5% |
| RDNT Radnet Inc. | 2.10% | 257,488 | $14.7M | New |
| EHTH Ehealth Inc. | 1.45% | 2,332,017 | $10.1M | Reduce -5.3% |
Portfolio Sells Q1 2025 → Q2 2025
| CNC Centene Corp. | Sold out | 0.00% | −23.35 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −11.16 |
| CON Concentra Group Holdings Par | Sold out | 0.00% | −5.29 |
| CVS CVS Health Corp. | Sold out | 0.00% | −5.27 |
| MCK McKesson Corp. | Sold out | 0.00% | −4.03 |
| DVA Davita Inc. | Sold out | 0.00% | −3.73 |
| BTSG Brightspring Health Services | Sold out | 0.00% | −3.35 |
| ACHC Acadia Healthcare Co. Inc. | Reduce -35.5% | 2.75% | −2.26 |
| GDRX Goodrx Holdings Inc. Class A | Sold out | 0.00% | −1.02 |
| EHTH Ehealth Inc. | Reduce -5.3% | 1.45% | −0.62 |
| CLOV Clover Health Investments Co. | Sold out | 0.00% | −0.37 |
| EHAB Enhabit Inc. | Reduce -22.8% | 5.32% | −0.21 |
| MODVQ Modivcare Inc. | Sold out | 0.00% | −0.02 |
| PNTG The Pennant Group Inc. | Reduce -12.0% | 11.35% | +1.79 |
Portfolio Buys Q1 2025 → Q2 2025
| HUM Humana Inc. | Add +671.0% | 15.47% | +13.56 |
| EHC Encompass Health Corp. | New | 11.27% | +11.27 |
| THC Tenet Healthcare Corp. | New | 6.95% | +6.95 |
| PREMIER INC-CLASS A | New | 5.32% | +5.32 |
| EVH Evolent Health Inc. Class A | New | 4.70% | +4.70 |
| LH Labcorp Holdings Inc. | New | 3.92% | +3.92 |
| SEM Select Medical Holdings Corp. | New | 3.81% | +3.81 |
| CI The Cigna Group | New | 3.77% | +3.77 |
| CAH Cardinal Health Inc. | Add +12.4% | 7.20% | +2.58 |
| RDNT Radnet Inc. | New | 2.10% | +2.10 |
| DGX Quest Diagnostics Inc. | Add +42.9% | 4.54% | +1.91 |
| ALHC Alignment Healthcare Inc. | Add +6.4% | 10.06% | −1.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 12 | $868.1M | MOH, CNC, ELV, BTSG, EHAB |
| Q3 2025 | 19 | $884.1M | CNC, UNH, CVS, LH, ELV |
| Q2 2025 | 16 | $697.8M | HUM, PNTG, EHC, ALHC, CAH |
| Q1 2025 | 18 | $793.1M | CNC, UNH, ALHC, PNTG, EHAB |
| Q4 2024 | 17 | $999.4M | UNH, HUM, CNC, DVA, BTSG |
| Q3 2024 | 17 | $846.6M | CNC, DVA, MOH, PNTG, BTSG |
| Q2 2024 | 18 | $1.0B | DVA, THC, BTSG, UHS, EHC |
| Q1 2024Amended | 18 | $1.0B | DVA, THC, BTSG, UHS, EHC |