David Einhorn Stock Portfolio: Top 10 Stock Picks

8. Centene Corporation (NYSE:CNC)

Greenlight Capital’s Stake: $109 Million 

Centene Corporation (NYSE:CNC) first appeared in the 13F portfolio of Greenlight Capital in the first quarter of 2020. This holding comprised 204,000 shares and was sold off within the next few months. A new position was then opened in the fourth quarter of 2024 that consisted of more than 870,000 shares. After trimming this stake in the first quarter of 2025, David Einhorn has added to it in each of the last three quarters. Filings for the fourth quarter of 2025 show that the fund owned more than 2.6 million shares in the company, up close to 70% compared to filings for the third quarter of 2025.

Centene Corporation (NYSE:CNC) stock took a beating in 2025 and hedge funds view this as a buying opportunity given the earnings potential of the firm. For example, Centene has guided for 40% growth in adjusted EPS for 2026, targeting over $3 per share. Institutional investors expect a coiled spring effect where Medicaid and ACA Marketplace rates—which lagged during the inflation of 2025—will realign with cost trends in 2026, restoring historical profit margins. Hedge funds also favor management’s value-over-volume approach. CEO Sarah London has aggressively moved to divest non-core assets to simplify the business. The recent deal to sell off the remaining Magellan Health businesses is seen as a major step in cleaning up the balance sheet and focusing on the core government-sponsored healthcare segments.