CNC at a glance
Centene Corporation (CNC, SEC CIK 1071739) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 16, 2026 and Form 4 insider filings as recently as September 30, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Centene Corporation (CNC) reported revenue of $174.6 billion (up 20.0% from FY2024) and a net loss of $6.7 billion. Diluted EPS was -$13.53.
- As of June 30, 2026, 39 institutional investment managers tracked by SignalX reported holding Centene Corporation (CNC) shares worth $15.2 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by KOSTER CHRISTOPHER on August 26, 2026 of 56,500 shares at $66.90 per share.
- In the last 90 days, CNC insiders reported 0 open-market purchases ($0) and 2 open-market sales ($6.9M) on Form 4, a net sale of $6.9M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $174.6B
- +20.0% vs prior year
- Insiders · 90 days
- 0 buys · 2 sells
- Net −$6.9M
- 13F holders
- 39 funds
- $15.2B · +0 vs prior quarter
- Latest 8-K
- Sep 16, 2026
- Item 7.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- CMS audit intensification risk with expanded risk adjustment data validation audits since 2025, potentially causing premium refunds and reducing revenue materially
- Texas and Georgia Medicaid reprocurement loss risk, involving protests due to unsuccessful bidding, threatening contract renewals and associated revenues
- Elevated medical cost risk from 2025 Marketplace membership with unexpectedly higher morbidity reducing net risk adjustment revenue significantly
- Part D bid risk from IRA-induced increased costs and enrollment volatility, with PDP membership boosted to 8.7 million in 2026 due to below-benchmark bids
- Medicare Advantage Star ratings risk with 40% of membership below 3.5 stars and contract terminations notices for 2025 impacting profitability and contract retention
Business Overview
- Core business model not directly described; document is primarily governance and regulatory disclosures
- No new products, services, or segments introduced or emphasized in this section
- Strategic shifts or competitive positioning not addressed in this text
- Independent auditor for FY 2026 confirmed as KPMG LLP, Auditor Firm ID 185
- Filing mainly references Proxy Statement for detailed governance, executive compensation, and ownership information
Management Discussion & Analysis
- Revenue details not explicitly provided; 2025 Medicaid membership 12.5M, Marketplace 5.5M, Medicare Advantage 1.0M, PDP 8.1M members
- No direct profitability or margin % figures disclosed in the text
- Best segments by membership: Medicaid 12.5M members, weakest not specified
- Capital allocation specifics (buybacks, dividends, capex) not detailed; $1.3B Magellan Rx divestiture gain $269M pre-tax; other divestitures totaling ~$1.6B in proceeds and related gains
- Forward outlook: 2026 Marketplace morbidity expected to increase; medical costs rising accelerated by policy and market changes; OBBBA impacts Medicaid eligibility and funding by 2027; CMS Medicare risk-sharing adjustments and integrated D-SNP requirement beginning 2027
AI summary of the CNC 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Total revenue $53.579B, up 10% YoY from $48.742B
- HBR 89.6% vs 93.0% YoY; SG&A ratio 7.0% vs 7.1%
- PDP membership growth drove premium revenue; Marketplace membership fell to 3.495M from 5.863M
- Operating cash flow $3.6B in Q2 2026
- Headwinds: elevated medical cost trend, Medicaid redeterminations, expired Enhanced APTCs and Marketplace membership decline
Risk Factors
- Voluntary separation program accepted July 27, 2026, triggering estimated severance costs of $315–$365 million in 2026
- Additional enterprise optimization charges possible in 2027, with amounts and cash expenditures not estimable
- Actual separation-program costs may differ materially from estimates due to underlying assumptions
- Stock repurchase authorization leaves $1.8 billion available as of June 30, 2026
AI summary of the CNC 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 7.01: Regulation FD Disclosure
- 2026 full-year guidance remains effective only through September 25, 2026
- Guidance will not be updated or affirmed unless Centene publicly announces revised or reaffirmed expectations
Item EX-99.1: Item EX-99.1
- CFO Drew Asher steps down December 31, 2026; retirement planned for end-2027
- Chris Neczypor joins in September and becomes Executive Vice President and CFO January 1, 2027
Item 7.01: Regulation FD Disclosure
- Forward-looking disclosure covers 2026 full-year guidance and expected CFO transition timing and terms
- Key earnings risks: government reimbursement changes, Medicaid and Medicare contract outcomes, medical-cost inflation, and CMS Star ratings
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CFO Andrew Asher retiring December 31, 2026, with strategic-advisor support through 2027 for transition and initiatives
- Christopher Neczypor, former Lincoln National CFO, slated to become Centene CFO January 1, 2027
Item 8.01: Other Events
- Centene plans to redeem $500 million of 4.25% notes on August 13, 2026
- Redemption at 100% principal plus accrued unpaid interest, limiting investor loss on redeemed notes
AI summaries of CNC 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CNC
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| TANJI KENNETH | A | Sep 30, 2026 | 603 | - |
| COUGHLIN CHRISTOPHER J | A | Sep 30, 2026 | 583 | - |
| EPPINGER FREDERICK H | A | Sep 30, 2026 | 864 | - |
| Samuels Theodore R. II | A | Sep 30, 2026 | 583 | - |
| Tyler Lauren M | A | Sep 30, 2026 | 482 | - |
| PIENKOS THEODORE J | F | Sep 15, 2026 | 1,092 | $69.41 |
| KOSTER CHRISTOPHER | Sell | Aug 26, 2026 | 56,500 | $66.90 |
| KOSTER CHRISTOPHER | Sell | Aug 18, 2026 | 47,603 | $65.36 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $145.5B | $174.6B |
| Gross Profit | - | $17.1B | $14.2B |
| Operating Income | - | $3.2B | -$7.6B |
| Net Income | - | $3.3B | -$6.7B |
| Gross Margin | - | 11.7% | 8.1% |
| Op. Margin | - | 2.2% | -4.4% |
| Net Margin | - | 2.3% | -3.8% |
| Balance Sheet | |||
| Total Assets | $84.6B | $82.4B | $76.7B |
| Equity | - | $26.4B | $20.0B |
| ROE | - | 12.5% | -33.4% |
| Per Share | |||
| EPS | - | $6.31 | $-13.53 |
| Cash Flow | |||
| Operating CF | - | $154.0M | $5.1B |
| CapEx | $799.0M | $644.0M | $767.0M |
Source: XBRL data in Centene Corporation (CNC)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate CNC share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 39 | $15.16B |
| Q1 2026 | 39 | $7.64B |
| Q4 2025 | 36 | $9.97B |
| Q3 2025 | 37 | $8.41B |
| Q2 2025 | 37 | $12.13B |
| Q1 2025 | 32 | $10.83B |
| Q4 2024 | 30 | $9.81B |
| Q3 2024 | 27 | $5.09B |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 277 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CNC filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 30, 2026 | - | - | - |
| 4 | Sep 16, 2026 | - | - | - |
| 8-K | Sep 16, 2026 | - | Analysis | - |
| 4 | Aug 27, 2026 | - | - | - |
| 4 | Aug 19, 2026 | - | - | - |
| 8-K | Aug 17, 2026 | - | Analysis | - |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 8-K | Jul 28, 2026 | - | Analysis | - |
| 10-Q | Jul 28, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 28, 2026 | - | - | - |
| 4 | Jul 20, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 4 | Jul 1, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 15, 2026 | - | - | - |
| 4 | Jun 11, 2026 | - | - | - |
| 8-K | May 15, 2026 | - | Analysis | |
| 4 | May 13, 2026 | - | - |
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CNC SEC filings: frequently asked questions
Are CNC insiders buying or selling?
In the last 90 days, Centene Corporation (CNC) officers, directors and 10% owners reported no open-market purchases and 2 open-market sales worth $6.9 million by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold CNC stock?
As of June 30, 2026, the largest Centene Corporation (CNC) holders among the 13F filers tracked by SignalX were BlackRock ($2.7 billion), Vanguard Capital Management LLC ($2.0 billion), AQR Capital Management ($1.8 billion), Vanguard Portfolio Management LLC ($1.4 billion), State Street Corp ($1.4 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CNC's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Centene Corporation (CNC) reported revenue of $174.6 billion (up 20.0% from FY2024) and a net loss of $6.7 billion. Diluted EPS was -$13.53. The figures come from the XBRL data in the 10-K.
What are the main risks in CNC's latest 10-K?
In the 10-K filed February 17, 2026, Centene Corporation (CNC) flagged: CMS audit intensification risk with expanded risk adjustment data validation audits since 2025, potentially causing premium refunds and reducing revenue materially. Texas and Georgia Medicaid reprocurement loss risk, involving protests due to unsuccessful bidding, threatening contract renewals and associated revenues. (AI summary of the Risk Factors section.)
What did CNC report in its latest 8-K?
Centene Corporation (CNC) filed an 8-K on September 16, 2026 reporting Item 7.01 (Regulation FD Disclosure). 2026 full-year guidance remains effective only through September 25, 2026.
What are the latest CNC SEC filings?
Centene Corporation (CNC) filed its latest 10-K annual report on February 17, 2026, a 10-Q quarterly report on July 28, 2026, an 8-K current report on September 16, 2026 and a Form 4 insider filing on September 30, 2026.
What is CNC's SEC CIK number?
Centene Corporation (CNC)'s SEC Central Index Key (CIK) is 1071739. EDGAR lists every CNC filing under that number.
Ask anything about CNC
The research agent reads CNC's filings, financials, insider trades and 13F holders, then answers with sources.