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

Artisan Partners, an investment management company, released its “Artisan Value Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The equity market rally persisted in the third quarter as investors ignored tariffs, buoyed by strong corporate earnings, rising AI investment, and prospects of economic support from US fiscal policy and lower interest rates. Against this backdrop, the fund’s Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 0.83%, 0.91%, and 0.90%, respectively, in the third quarter compared to a 5.33% return for the Russell 1000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2025.

In its third-quarter 2025 investor letter, Artisan Value Fund highlighted stocks such as The Cigna Group (NYSE:CI). The Cigna Group (NYSE:CI) is a US-based insurance company that offers insurance and related products and services. The one-month return of The Cigna Group (NYSE:CI) was 0.70%, and its shares lost 0.05% of their value over the last 52 weeks. On December 29, 2025, The Cigna Group (NYSE:CI) stock closed at $276.01 per share, with a market capitalization of $73.73 billion.

Artisan Value Fund stated the following regarding The Cigna Group (NYSE:CI) in its third quarter 2025 investor letter:

“We swapped one managed care company for another in purchasing Elevance and selling The Cigna Group (NYSE:CI). Both companies operate health insurance businesses and trade cheaply, but their business mixes are different. Formerly known as Anthem and Wellpoint, Elevance is one of the nation’s largest health insurers and the largest for-profit entity in the Blue Cross Blue Shield Association. The company operates in commercial, Medicare Advantage and Medicaid through its health benefits segment and provides pharmacy benefits, life insurance and disability insurance. Cigna has a much larger pharmacy benefits management (PBM)business that generates over 50% of operating profits. There are rumblings in Washington about PBM reform, which should pose a greater risk to Cigna than to Elevance.”

In another article, we covered The Cigna Group (NYSE:CI) and shared the list of cheap healthcare stocks to buy heading into 2026. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.