8 Knots Management
DALLAS, TXfiles as 8 KNOTS MANAGEMENT, LLC
$868m in 12 US stocks at the end of 31 December 2025. The top 10 are 98.7% of the money. It changed about 49.1% of the portfolio this quarter.
Value
$868m
Stocks
12
Top 10 share
98.7%
Turnover
49.1%
What changed this quarter
New
Bought for the first time this quarter.
- Molina HealthcareMOH22.9% of the fund
- Cardinal HealthCAH3.3% of the fund
- PACS GroupPACS2.7% of the fund
Added
Bought more of a stock they already held.
- Elevance HealthELV20.7% of the fund+187%
- BrightSpring Health ServicesBTSG9.0% of the fund+20%
- Enhabit5.4% of the fund+21%
Cut
Sold some of their stake.
- CenteneCNC22.3% of the fund-10%
- CVS HealthCVS4.7% of the fund-56%
- Alignment HealthcareALHC4.3% of the fund-35%
- Healthcare Services GroupHCSG3.5% of the fund-53%
- Pennant GroupPNTG<0.1% of the fund-100%
Sold out
Sold their entire stake.
- UnitedHealth GroupUNH-100%
- Labcorp HoldingsLH-100%
- Quest DiagnosticsDGX-100%
- Tenet HealthcareTHC-100%
- HCA HealthcareHCA-100%
- Evolent HealthEVH-100%
- MckessonMCK-100%
- Service Corp InternationalSCI-100%
- Addus HomeCareADUS-100%
- Surgery PartnersSGRY-100%
Holdings
- Enhabit
- Share
- 5.4%
- Value
- $47m
- Shares
- 5,084,714
+21%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Molina HealthcareMOH | 22.9% | $199m | 1,146,378 | New |
| CenteneCNC | 22.3% | $194m | 4,706,250 | -10% |
| Elevance HealthELV | 20.7% | $179m | 511,585 | +187% |
| BrightSpring Health ServicesBTSG | 9.0% | $78m | 2,087,076 | +20% |
| Enhabit | 5.4% | $47m | 5,084,714 | +21% |
| CVS HealthCVS | 4.7% | $41m | 514,834 | -56% |
| Alignment HealthcareALHC | 4.3% | $37m | 1,868,367 | -35% |
| Healthcare Services GroupHCSG | 3.5% | $30m | 1,592,565 | -53% |
| Cardinal HealthCAH | 3.3% | $29m | 138,795 | New |
| PACS GroupPACS | 2.7% | $23m | 610,070 | New |
| eHealthEHTH | 1.2% | $11m | 2,332,017 | Held |
| Pennant GroupPNTG | <0.1% | $245,046 | 8,705 | -100% |
Over time and by industry
Value over time
Jun '25
Dec '25
Value is up 24.4% since 30 June 2025.
Where the money is
Health care89.1%
Financial services5.5%
Other5.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.