Invesco Discloses Passive Stake in Tenet Healthcare Corp

TL;DR

**Invesco just revealed a big, passive stake in Tenet Healthcare, signaling institutional confidence.**

AI Summary

Invesco Ltd., a major investment management firm, filed an SC 13G on February 9, 2024, disclosing its ownership of Tenet Healthcare Corp (THC) common stock as of December 29, 2023. This filing indicates that Invesco holds a significant, but passive, stake in Tenet Healthcare, signaling their confidence in the company's future without seeking to influence management. For investors, this means a large institutional player sees value in THC, which can be a positive signal for the stock's stability and potential growth.

Why It Matters

This filing shows a major institutional investor, Invesco Ltd., has a significant, passive stake in Tenet Healthcare, which can be interpreted as a vote of confidence in the company's long-term prospects.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a passive investment by a large institution, indicating stability rather than immediate risk.

Analyst Insight

An investor might view Invesco's passive stake as a positive signal, suggesting fundamental strength in Tenet Healthcare, and could consider further research into THC's financials and market position.

Key Players & Entities

• Invesco Ltd. (company) — the reporting person, an investment management firm
• Tenet Healthcare Corp (company) — the subject company whose stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• February 9, 2024 (date) — the filing date of the SC 13G

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G) — 16KB
• Rule13D_JointFilingAgreement.htm (EX-99) — 6KB
• 0000914208-24-000113.txt ( ) — 24KB

From the Filing

SC 13G 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _ ) * Tenet Healthcare Corp (Name of Issuer) Common Stock (Title of Class of Securities) 88033G407 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 88033G407 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Invesco Ltd. 98-0557567 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 5,298,784 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 5,422,099 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,422,099 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.3% 12. TYPE OF REPORTING PERSON HC, IA Item 1. (a) Name of Issuer Tenet Healthcare Corp (b) Address of Issuer's Principal Executive Offices 1445 Ross Avenue, Suite 1400, Dallas, TX 75202 Item 2. (a) Name of Person Filing Invesco Ltd. ("Invesco Ltd.") (b) Address of Principal Business Office or, if None, Residence 1331 Spring Street NW, Suite 2500, Atlanta, GA 30309 (c) Citizenship Bermuda (d) Title of Class of Securities Common Stock (e) CUSIP Number 88033G407 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: Invesco Ltd. , in its capacity as a parent holding company to its investment advisers, may be deemed to beneficially own 5,422,099 shares of the Issuer which are held of record by clients of Invesco Ltd. . (b) Percent of Class: 5.3% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 5,298,784 (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 5,422,099 (iv) shared power to dispose or to direct the disposition of 0 Item 5. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: [ ] Item 6. However, no one individual has greater than 5% economic ownership. The shareholders of the Fund have the right to receive or the power to direct the receipt of dividends and proceeds from the sale of securities listed above. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Invesco Advisers, Inc. Invesco Asset Management Deutschland GmbH Invesco Asset Management Limited Invesco Investment Advisers LLC Invesco Capital Management LLC Item 8. Identification and Clas

View Full Filing

View this SC 13G filing on SEC EDGAR