8 KNOTS MANAGEMENT, LLC Quant / Systematic

CIK: 0001849457 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $868,105 (100.0% shares, 0.0% debt)

Holdings (12)

New Positions (3)

MOH MOLINA HEALTHCARE INC 22.9%

Value ($000) $198,942 Shares 1,146,378 Est. Cost $164.37 Unrealized 0.0%

CAH CARDINAL HEALTH INC 3.3%

Value ($000) $28,522 Shares 138,795 Est. Cost $187.72 Unrealized 0.0%

PACS PACS GROUP INC 2.7%

Value ($000) $23,421 Shares 610,070 Est. Cost $21.94 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MOH	MOLINA HEALTHCARE INC	1,146,378	$198,942	22.9%	$164.37	0.0%	COM	60855R100
CAH	CARDINAL HEALTH INC	138,795	$28,522	3.3%	$187.72	0.0%	COM	14149Y108
PACS	PACS GROUP INC	610,070	$23,421	2.7%	$21.94	0.0%	COM SHS	69380Q107

Increased Positions (3)

ELV ELEVANCE HEALTH INC 20.7%

Value ($000) $179,336 (+211.9%) Shares 511,585 (+187.5%) Est. Cost $326.76 Unrealized +3.0%

BTSG BRIGHTSPRING HEALTH SVCS INC 9.0%

Value ($000) $78,161 (+52.5%) Shares 2,087,076 (+20.4%) Est. Cost $24.99 Unrealized +34.2%

EHAB ENHABIT INC 5.4%

Value ($000) $46,881 (+38.7%) Shares 5,084,714 (+20.5%) Est. Cost $9.12 Unrealized -4.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ELV	ELEVANCE HEALTH INC	511,585 (+187.5%)	$179,336 (+211.9%)	20.7%	$326.76	+3.0%	COM	036752103
BTSG	BRIGHTSPRING HEALTH SVCS INC	2,087,076 (+20.4%)	$78,161 (+52.5%)	9.0%	$24.99	+34.2%	COM	10950A106
EHAB	ENHABIT INC	5,084,714 (+20.5%)	$46,881 (+38.7%)	5.4%	$9.12	-4.9%	COM	29332G102

Exited Positions (10)

UNH UNITEDHEALTH GROUP INC 10.9%

Value ($000) $94,965 Shares 275,022 Est. Cost $298.94 Unrealized +12.8%

LH LABORATORY CRP OF AMER HLDGS 6.8%

Value ($000) $58,807 Shares 204,859 Est. Cost $254.07 Unrealized +4.4%

DGX QUEST DIAGNOSTICS INC 6.0%

Value ($000) $52,475 Shares 275,344 Est. Cost $169.16 Unrealized +7.6%

THC TENET HEALTHCARE CORP 3.4%

Value ($000) $29,882 Shares 147,172 Est. Cost $150.53 Unrealized +34.3%

HCA HCA HEALTHCARE INC 2.6%

Value ($000) $22,862 Shares 53,641 Est. Cost $386.45 Unrealized +20.0%

EVH EVOLENT HEALTH INC - A 1.7%

Value ($000) $14,958 Shares 1,768,113 Est. Cost $9.18 Unrealized -39.5%

MCK MCKESSON CORP 1.6%

Value ($000) $13,594 Shares 17,596 Est. Cost $703.03 Unrealized +16.0%

SCI SERVICE CORP INTERNATIONAL 0.8%

Value ($000) $6,996 Shares 84,062 Est. Cost $79.79 Unrealized +0.3%

ADUS ADDUS HOMECARE CORP 0.7%

Value ($000) $6,075 Shares 51,491 Est. Cost $112.20 Unrealized +2.4%

SGRY SURGERY PARTNERS INC 0.5%

Value ($000) $4,763 Shares 220,088 Est. Cost $22.31 Unrealized -17.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC	275,022	$94,965	10.9%	$298.94	+12.8%	—	91324P102
LH	LABORATORY CRP OF AMER HLDGS	204,859	$58,807	6.8%	$254.07	+4.4%	—	504922105
DGX	QUEST DIAGNOSTICS INC	275,344	$52,475	6.0%	$169.16	+7.6%	—	74834L100
THC	TENET HEALTHCARE CORP	147,172	$29,882	3.4%	$150.53	+34.3%	—	88033G407
HCA	HCA HEALTHCARE INC	53,641	$22,862	2.6%	$386.45	+20.0%	—	40412C101
EVH	EVOLENT HEALTH INC - A	1,768,113	$14,958	1.7%	$9.18	-39.5%	—	30050B101
MCK	MCKESSON CORP	17,596	$13,594	1.6%	$703.03	+16.0%	—	58155Q103
SCI	SERVICE CORP INTERNATIONAL	84,062	$6,996	0.8%	$79.79	+0.3%	—	817565104
ADUS	ADDUS HOMECARE CORP	51,491	$6,075	0.7%	$112.20	+2.4%	—	006739106
SGRY	SURGERY PARTNERS INC	220,088	$4,763	0.5%	$22.31	-17.6%	—	86881A100

Decreased Positions (5)

CVS CVS HEALTH CORP 4.7%

Value ($000) $40,857 (-53.9%) Shares 514,834 (-56.2%) Est. Cost $67.82 Unrealized +16.0%

PNTG PENNANT GROUP INC 0.0%

Value ($000) $245 (-99.4%) Shares 8,705 (-99.5%) Est. Cost $16.43 Unrealized +61.9%

HCSG HEALTHCARE SVCS GROUP INC 3.5%

Value ($000) $30,450 (-46.1%) Shares 1,592,565 (-52.6%) Est. Cost $14.88 Unrealized +20.9%

ALHC ALIGNMENT HEALTHCARE INC 4.3%

Value ($000) $36,900 (-26.9%) Shares 1,868,367 (-35.4%) Est. Cost $11.54 Unrealized +55.6%

CNC CENTENE CORP DEL 22.3%

Value ($000) $193,662 (+3.8%) Shares 4,706,250 (-10.0%) Est. Cost $30.20 Unrealized +23.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CVS	CVS HEALTH CORP	514,834 (-56.2%)	$40,857 (-53.9%)	4.7%	$67.82	+16.0%	COM	126650100
PNTG	PENNANT GROUP INC	8,705 (-99.5%)	$245 (-99.4%)	0.0%	$16.43	+61.9%	COM	70805E109
HCSG	HEALTHCARE SVCS GROUP INC	1,592,565 (-52.6%)	$30,450 (-46.1%)	3.5%	$14.88	+20.9%	COM	421906108
ALHC	ALIGNMENT HEALTHCARE INC	1,868,367 (-35.4%)	$36,900 (-26.9%)	4.3%	$11.54	+55.6%	COM	01625V104
CNC	CENTENE CORP DEL	4,706,250 (-10.0%)	$193,662 (+3.8%)	22.3%	$30.20	+23.9%	COM	15135B101

Unchanged Positions (1)

EHTH EHEALTH INC 1.2%

Value ($000) $10,727 Shares 2,332,017 Est. Cost $8.20 Unrealized -46.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EHTH	EHEALTH INC	2,332,017	$10,727	1.2%	$8.20	-46.3%	COM	28238P109