# 8 KNOTS MANAGEMENT, LLC

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 1849457. Source: https://holderbook.com/funds/1849457-8-knots-management-llc/

- Reported value: $868.1M
- Positions: 12
- Weight of the ten largest: 98.7%
- Filed: 2026-02-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $198.9M | 1,146,378 | 22.9% | 1 |
| CENTENE CORP DEL | [CNC](https://holderbook.com/stocks/CNC/) | $193.7M | 4,706,250 | 22.3% | 2 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $179.3M | 511,585 | 20.7% | 2 |
| BRIGHTSPRING HEALTH SVCS INC | [BTSG](https://holderbook.com/stocks/BTSG/) | $78.2M | 2,087,076 | 9.0% | 2 |
| ENHABIT INC | [EHAB](https://holderbook.com/stocks/EHAB/) | $46.9M | 5,084,714 | 5.4% | 9 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $40.9M | 514,834 | 4.7% | 2 |
| ALIGNMENT HEALTHCARE INC | [ALHC](https://holderbook.com/stocks/ALHC/) | $36.9M | 1,868,367 | 4.3% | 6 |
| HEALTHCARE SVCS GROUP INC | [HCSG](https://holderbook.com/stocks/HCSG/) | $30.4M | 1,592,565 | 3.5% | 2 |
| CARDINAL HEALTH INC | [CAH](https://holderbook.com/stocks/CAH/) | $28.5M | 138,795 | 3.3% | 1 |
| PACS GROUP INC | [PACS](https://holderbook.com/stocks/PACS/) | $23.4M | 610,070 | 2.7% | 1 |
| EHEALTH INC | [EHTH](https://holderbook.com/stocks/EHTH/) | $10.7M | 2,332,017 | 1.2% | 9 |
| PENNANT GROUP INC | [PNTG](https://holderbook.com/stocks/PNTG/) | $245.0K | 8,705 | 0.0% | 9 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2025 | +6.0% | +2.4% | +3.6% | 100% |
| Q3 2025 | +2.6% | +7.8% | -5.2% | 100% |
| Q2 2025 | -7.3% | +10.5% | -17.8% | 100% |
| Q1 2025 | +7.3% | -4.6% | +11.9% | 100% |
| Q4 2024 | -11.2% | +2.1% | -13.4% | 100% |
| Q3 2024 | +16.1% | +5.4% | +10.7% | 100% |
| Q2 2024 | -1.1% | +4.0% | -5.1% | 101% |
| Q1 2024 | +20.3% | +10.0% | +10.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $868.1M | 12 |
| Q3 2025 | $884.1M | 19 |
| Q2 2025 | $697.8M | 16 |
| Q1 2025 | $793.1M | 18 |
| Q4 2024 | $999.4M | 17 |
| Q3 2024 | $846.6M | 17 |
| Q2 2024 | $1.0B | 18 |
| Q1 2024 | $1.0B | 18 |
| Q4 2023 | $535.6M | 16 |