Here’s What Impacted Centene Corporation (CNC) in Q3

Core Insights - Oakmark Fund underperformed the S&P 500 Index in Q3 2025 but has outperformed since inception [1] - Financials and energy sectors were the largest contributors to performance, while health care and consumer staples detracted [1] Company Analysis: Centene Corporation (NYSE:CNC) - Centene Corporation is a healthcare enterprise focused on services for under-insured and uninsured families and commercial organizations [2] - The stock experienced a one-month return of 12.92% but has lost 48.16% over the past 52 weeks, closing at $37.83 with a market cap of $18.432 billion on October 9, 2025 [2] - Centene was the top detractor for Oakmark Fund in Q3 2025 due to a significant decline in stock price after withdrawing and then lowering its 2025 earnings per share guidance, attributed to cost pressures in Medicaid and Marketplace businesses [3] - The current valuation of Centene suggests structural headwinds, but the company is expected to see a meaningful earnings recovery in the coming years [3] Hedge Fund Interest - Centene Corporation is not among the 30 most popular stocks among hedge funds, with 59 hedge fund portfolios holding the stock at the end of Q2 2025, down from 64 in the previous quarter [4] - While Centene has potential as an investment, certain AI stocks are viewed as offering greater upside potential with less downside risk [4]