Billionaire Cliff Asness’ 10 Stock Picks with Huge Upside Potential

8. Centene Corporation (NYSE:CNC)

AQR Capital Management’s Q4 Stake: $496 million

Upside Potential as of April 26: 27.06%

Number of Hedge Fund Holders: 72

Centene Corporation (NYSE:CNC), headquartered in St. Louis, Missouri, is a managed care company that serves as a middleman between government-sponsored and privately insured healthcare programs. The firm primarily serves the Medicaid market, with a sizable proportion of its membership coming from programs like as the Children’s Health Insurance Program (CHIP) and Temporary Assistance for Needy Families (TANF).

On April 9, Guggenheim Securities began coverage of Centene Corporation (NYSE:CNC) with a neutral rating. The firm’s analyst noted the healthcare company’s continued advantages from its scale and expertise in government-related sectors as positive aspects. Centene’s recent disposal of around 11 non-core assets, as well as the disposal of its pharmaceutical benefits management (PBM) services arm, were cited as strategic actions that could lead to additional opportunities.

Centene Corporation (NYSE:CNC) announced quarterly earnings of $2.90 per share in the first quarter of 2025, above the average expectation of $2.52 per share and up from $2.26 per share the previous year. Centene assigned its strong first-quarter profitability to a considerable increase in Obamacare enrollment, which drove membership and revenue growth.