Hotchkis & Wiley released its third-quarter 2025 investor letter, noting strong equity market gains with indices hitting all-time highs. The fund outperformed the Russell Midcap Value Index, gaining 7.74% vs 6.18%. Centene Corporation (NYSE:CNC) was highlighted as a stock pick, with a one-month return of 5.19% and shares losing 33.08% over 52 weeks.

Centene Corporation (NYSE:CNC) is a healthcare enterprise with services for under-insured families. Centene stock closed at $38.08 per share on December 9, 2025, with a market cap of $18.717 billion. The fund views CNC as attractive due to its position in the managed Medicaid market.

Centene Corporation (NYSE:CNC) is not among the 30 most popular stocks among hedge funds. While acknowledging CNC’s potential, the fund believes certain AI stocks offer greater upside. For those seeking an undervalued AI stock with potential benefits from tariffs and onshoring trends, a free report is available.

Read more at Yahoo Finance: Should You Hold Centene (CNC)?