Here’s Why Artisan Value Fund Sold The Cigna Group (CI)

Group 1 - Artisan Partners reported that the equity market rally continued in Q3 2025, driven by strong corporate earnings, rising AI investment, and favorable US fiscal policy, resulting in fund returns of 0.83%, 0.91%, and 0.90% for its Investor Class, Advisor Class, and Institutional Class, respectively, compared to a 5.33% return for the Russell 1000 Value Index [1] - The Cigna Group (NYSE:CI) had a one-month return of 0.70% and a 52-week loss of 0.05%, with a market capitalization of $73.73 billion as of December 29, 2025 [2] - Artisan Value Fund swapped The Cigna Group for Elevance, noting that while both companies are health insurers, Elevance has a more diversified business mix and is less exposed to potential risks from pharmacy benefits management (PBM) reform compared to Cigna [3] Group 2 - The Cigna Group was held by 78 hedge fund portfolios at the end of Q3 2025, a slight decrease from 80 in the previous quarter, indicating a decline in popularity among hedge funds [4] - Despite recognizing The Cigna Group's investment potential, Artisan Partners believes that certain AI stocks present greater upside potential and lower downside risk [4]