Artisan Sold Cencora (COR) as Earnings Momentum Slowed
The Artisan Global Opportunities Strategy, managed by Artisan Partners, reported solid absolute returns of 12.65% for the second quarter of 2026, but trailed the benchmark due to underweight tech exposure and overweight health care holdings. Despite inflation, higher bond yields, and geopolitical risks, global equities rose sharply, driven by resilient economic growth, robust corporate earnings, and growing interest in artificial intelligence.
The fund continued to identify attractive long-term prospects in AI infrastructure, healthcare, and consumer internet sectors while maintaining a cautious approach to valuations. Cencora, a global pharmaceutical sourcing and distribution company, was among the fund's holdings, with its stock trading at $336.36 per share as of September 2, 2026.
The fund exited its position in Cencora, citing a mature profit cycle and the emergence of earlier-stage opportunities with higher conviction. Cencora, while a high-quality franchise, was seen as lacking sufficient catalysts for future growth, prompting the fund to reallocate capital to more promising prospects. Notably, Cencora is not listed among the 40 most popular stocks among hedge funds, suggesting limited interest from other institutional investors.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
