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Livermore
Livermore
ZHEN

8 Knots Management, LLC

SEC CIK
0001849457
Latest filing
Feb 13, 2026

The latest 13F from 8 Knots Management, LLC covers Q4 2025 (filed Feb 13, 2026): 12 long positions worth $868.1M. The top 10 holdings make up 98.7% of the portfolio, and the largest is Molina Healthcare, Inc. (MOH) at 22.9%. Livermore has 11 filings on Form 13F from this institution, going back to Q4 2023.

What changed in Q4 2025

Share counts compared with Q3 2025: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$250.9M
Added
3
Est. +$138.2M
Reduced
5
Est. −$176.8M
Sold out
10
Est. −$305.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. MOHMolina Healthcare, Inc.
    22.9%$198.9MHistory
  2. CNCCentene Corp
    22.3%$193.7MHistory
  3. ELVElevance Health, Inc.
    20.7%$179.3MHistory
  4. BTSGBrightSpring Health Services, Inc.
    9.0%$78.2MHistory
  5. EHABEnhabit, Inc.
    5.4%$46.9MHistory

Share of portfolio

Top 5 holdings and the other 7 positions, by share of portfolio value

  1. MOH22.9%
  2. CNC22.3%
  3. ELV20.7%
  4. BTSG9.0%
  5. EHAB5.4%
  6. Other 7 positions19.7%

Biggest buys

New and added positions, by estimated amount bought

  1. MOHMolina Healthcare, Inc.
    +$198.9MNewHistory
  2. ELVElevance Health, Inc.
    +$117.0MAddedHistory
  3. CAHCardinal Health Inc
    +$28.5MNewHistory
  4. PACSPACS Group, Inc.
    +$23.4MNewHistory
  5. BTSGBrightSpring Health Services, Inc.
    +$13.2MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. MOHMolina Healthcare, Inc.
    +22.92 pp0.0% → 22.9%History
  2. ELVElevance Health, Inc.
    +14.15 pp6.5% → 20.7%History
  3. CAHCardinal Health Inc
    +3.29 pp0.0% → 3.3%History
  4. BTSGBrightSpring Health Services, Inc.
    +3.21 pp5.8% → 9.0%History
  5. PACSPACS Group, Inc.
    +2.70 pp0.0% → 2.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. UNHUnitedHealth Group Inc
    −$95.0MSold outHistory
  2. LHLabcorp Holdings Inc.
    −$58.8MSold outHistory
  3. DGXQuest Diagnostics Inc
    −$52.5MSold outHistory
  4. CVSCVS Health Corp
    −$52.4MReducedHistory
  5. PNTGPennant Group, Inc.
    −$48.8MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. UNHUnitedHealth Group Inc
    −10.74 pp10.7% → 0.0%History
  2. LHLabcorp Holdings Inc.
    −6.65 pp6.7% → 0.0%History
  3. DGXQuest Diagnostics Inc
    −5.94 pp5.9% → 0.0%History
  4. CVSCVS Health Corp
    −5.31 pp10.0% → 4.7%History
  5. PNTGPennant Group, Inc.
    −4.94 pp5.0% → <0.1%History

Metrics

13F metrics for Q4 2025, computed only from the numbers in the filings. Definitions below.

Portfolio value
$868.1M
−$16.0M (−1.8%) vs. prior quarter
Positions
12
−7 vs. prior quarter
Top 10 concentration
98.7%
Top 10 as share of value
Turnover
44.4%
Q4 2025, one quarter
Average holding period
2.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2023), so positions held before then are understated.

13F filings by quarter

9 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.04B (Q1 2024)

Q4 2023: $535.6MQ1 2024: $1.04BQ2 2024: $1.04BQ3 2024: $846.6MQ4 2024: $999.4MQ1 2025: $793.1MQ2 2025: $697.8MQ3 2025: $884.1MQ4 2025: $868.1M
Q4 2023Q4 2025
13F filings of 8 Knots Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q4 2025Feb 13, 202612$868.1MMOHCNCELVvs. Q3 2025SEC
Q3 2025Nov 14, 202519$884.1MCNCUNHCVSvs. Q2 2025SEC
Q2 2025Aug 14, 202516$697.8MHUMPNTGEHCvs. Q1 2025SEC
Q1 2025May 15, 202518$793.1MCNCUNHALHCvs. Q4 2024SEC
Q4 2024Feb 14, 202517$999.4MUNHHUMCNCvs. Q3 2024SEC
Q3 2024Nov 14, 202417$846.6MCNCDVAMOHvs. Q2 2024SEC
Q2 2024Aug 14, 202418$1.04BDVATHCBTSGvs. Q1 2024SEC
Q1 2024Aug 14, 2024Amended18$1.04BDVATHCBTSGvs. Q4 2023SEC
Q4 2023Feb 14, 202416$535.6MDVAEHCCI–SEC

13D and 13G filings

Companies where 8 Knots Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

8 Knots Management, LLC does not currently report owning 5% or more of any company.

Latest filings

18 filings on file made by 8 Knots Management, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by 8 Knots Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
EHABEnhabit, Inc.Apr 10, 20264:14 PM ET13G/A0.00%0 shares−9.99 ppfrom 9.99%Below 5%Feb 20, 2026SEC
EHTHeHealth, Inc.Apr 10, 20264:12 PM ET13G/A0.00%0 shares−7.58 ppfrom 7.58%Below 5%Feb 18, 2026SEC
EHTHeHealth, Inc.Feb 17, 20269:28 PM ET13G/A7.58%2.33M shares−0.65 ppfrom 8.23%Dec 31, 2025SEC
PNTGPennant Group, Inc.Feb 17, 20264:44 PM ET13G/A0.03%8.71K shares−5.01 ppfrom 5.04%Below 5%Dec 31, 2025SEC
EHABEnhabit, Inc.Feb 13, 20268:14 PM ET13G/A9.99%5.06M shares+2.38 ppfrom 7.61%Dec 31, 2025SEC
PNTGPennant Group, Inc.Nov 14, 20255:06 PM ET13G/A5.04%1.74M shares−2.66 ppfrom 7.70%Sep 30, 2025SEC
PNTGPennant Group, Inc.Aug 14, 20254:20 PM ET13G/A7.70%2.65M shares−1.05 ppfrom 8.75%Jun 30, 2025SEC
EHABEnhabit, Inc.Aug 14, 20254:14 PM ET13G/A7.61%3.85M shares−2.27 ppfrom 9.88%Jun 30, 2025SEC
PNTGPennant Group, Inc.May 15, 20254:48 PM ET13G/A8.75%3.01M shares+1.67 ppfrom 7.08%Mar 31, 2025SEC
EHABEnhabit, Inc.May 15, 20254:47 PM ET13G9.88%4.99M shares+1.07 ppfrom 8.81%Mar 31, 2025SEC
EHTHeHealth, Inc.May 15, 20254:47 PM ET13G/A8.23%2.46M shares+0.14 ppfrom 8.09%Mar 31, 2025SEC
EHTHeHealth, Inc.Feb 14, 20254:10 PM ET13G/A8.09%2.40M shares–Dec 31, 2024SEC
EHABEnhabit, Inc.Feb 14, 20254:09 PM ET13G/A8.81%4.43M shares–Dec 31, 2024SEC
PNTGPennant Group, Inc.Feb 14, 20254:08 PM ET13G/A7.08%2.43M shares–Dec 31, 2024SEC
EHABEnhabit, Inc.Nov 14, 202413GOld format–New–SEC
EHTHeHealth, Inc.Feb 14, 202413G/AOld format–––SEC
PNTGPennant Group, Inc.Feb 14, 202413GOld format–New–SEC
EHTHeHealth, Inc.Feb 14, 202313GOld format–New–SEC