Smart Money Is Buying Centene Corp. (CNC)
Monday, July 20, 2026 · Johnny Hopkins
According to the most recent reported 13F filings, institutional investors showed significant buying activity in Centene Corp. (CNC), with several respected value investors, quantitative managers, and hedge funds increasing their positions during the quarter. The buying comes as Centene remains one of the largest providers of government-sponsored healthcare programs in the United States, with substantial exposure to Medicaid and Medicare markets.
Below are the most notable buyers from the latest reported quarter:
Bill Nygren
Shares: 9,666,000 Change: +3,802,000 Value: $0.32B
Oakmark Select Fund recorded the largest increase among tracked investors, adding more than 3.8 million shares during the quarter. The substantial purchase suggests growing conviction in Centene’s valuation and the potential for improved long-term operating performance.
Cliff Asness
Shares: 33,613,787 Change: +1,815,049 Value: $1.09B
AQR Capital Management significantly increased its Centene position during the quarter. The firm remains the largest holder among the investors shown, with more than 33.6 million shares valued at approximately $1.09 billion. The addition fits Asness’ systematic investment approach, which emphasizes valuation, quality, profitability, and momentum factors.
David Einhorn
Shares: 2,731,810 Change: +92,390 Value: $0.09B
Greenlight Capital increased its stake in Centene during the quarter. The purchase is consistent with Einhorn’s value-oriented investment strategy, which seeks companies trading at significant discounts to their underlying business value.
Ray Dalio
Shares: 168,146 Change: +73,614 Value: $0.01B
Bridgewater Associates substantially increased its Centene holdings during the quarter. While relatively modest in overall portfolio value, the purchase represented a meaningful increase from the firm’s previous position of 94,532 shares.
Tweedie Browne
Shares: 18,955 Change: +6,907 Value: $0.00B
Tweedie, Browne increased its Centene position during the quarter. The addition is consistent with the firm’s long-standing value investing approach, which focuses on companies trading below estimates of intrinsic value.
Steve Cohen
Shares: 2,436,892 New Position Value: $0.08B
Point72 Asset Management initiated a new position in Centene during the quarter, purchasing more than 2.4 million shares. The sizeable new investment represents one of the most notable moves among tracked investors and suggests the firm sees an attractive opportunity following weakness in Centene shares.
Ken Fisher
Shares: 7,826 New Position Value: $0.00B
Fisher Asset Management also initiated a new position in Centene during the quarter. Although relatively small, the purchase adds another prominent institutional investor to the group establishing exposure to the healthcare company.
Overall Takeaway
Collectively, these filings highlight significant institutional accumulation of Centene shares. The largest additions came from Oakmark Select Fund and AQR Capital Management, while Point72 Asset Management established a substantial new position of more than 2.4 million shares.
The concentration of buying among value investors, quantitative managers, and major hedge funds suggests growing interest in Centene’s depressed valuation and potential for improved operating performance. With Bill Nygren making a particularly aggressive addition and Steve Cohen initiating a sizeable new position, Centene continues to attract meaningful institutional capital despite the challenges facing the company and broader managed healthcare sector.