SCHEDULE: Janus Henderson Group Reports 10.2% Stake in Surgery Partners

Sentiment:

Beneficial Ownership Report (Schedule 13G)


Janus Henderson Group plc and its affiliates reported a beneficial ownership of 10.2% in Surgery Partners, Inc. common stock as of September 30, 2025.

Summary

  • Janus Henderson Group plc, a Jersey-based parent holding company and investment adviser, reported beneficial ownership of 13,036,583 shares of Surgery Partners, Inc. common stock, representing 10.2% of the class.
  • Janus Henderson Contrarian Fund, a Massachusetts-based investment company, reported beneficial ownership of 12,479,640 shares, representing 9.7% of the class.
  • The shares are held in the ordinary course of business and not for the purpose of changing or influencing the control of Surgery Partners, Inc.
  • JHIUS, an indirect subsidiary of Janus Henderson Group plc and a registered investment adviser, may be deemed the beneficial owner of 13,005,961 shares, representing 10.1% of the class, with shared voting and dispositive power.

Sentiment

Score: 5

Explanation: The filing is a factual report of beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment regarding the company's operational or financial performance.

Future Outlook

NA

Industry Context

This filing indicates continued institutional interest and a significant stake held by a major asset manager in the healthcare services sector, specifically in Surgery Partners, Inc. Such a substantial holding by Janus Henderson Group plc suggests a long-term investment perspective, aligning with broader trends of institutional capital allocation into established healthcare providers.

Stakeholder Impact

  • Shareholders: The disclosure of a significant institutional stake by Janus Henderson Group plc may be viewed positively by other shareholders, potentially signaling confidence in the company's long-term prospects.

Key Dates

DateDescription
12/09/2022Date Power of Attorney was executed by Janus Henderson Group plc.
09/30/2025Date of event which requires the filing of this statement.
11/14/2025Signature date for Janus Henderson Group plc and Janus Henderson Contrarian Fund.

Keywords

Surgery Partners, Janus Henderson Group, beneficial ownership, common stock, institutional investment, healthcare services, SEC filing

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