AQR Capital discloses 6.47% Centene (CNC) stake in Schedule 13G

Rhea-AI Filing Summary

AQR Capital Management, LLC and AQR Capital Management Holdings, LLC reported a passive ownership stake in Centene Corporation. The firms beneficially own 31,798,738 shares of Centene common stock, representing 6.47% of the outstanding class as of the reported date. All of these shares are reported with shared voting and shared dispositive power, with no sole voting or dispositive authority. The reporting persons state that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Centene.

Insights

Equity ownership and governance analyst

AQR discloses a 6.47% passive stake in Centene.

AQR Capital Management, LLC and its parent, AQR Capital Management Holdings, LLC, report beneficial ownership of 31,798,738 Centene common shares, equal to 6.47% of the class. All voting and dispositive authority over these shares is shared between the two reporting entities, with no sole control reported.

The filing is a Schedule 13G, which is used for holders that characterize their position as passive. The certifying language states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Centene. This generally indicates an institutional investment rather than an activist campaign.

For investors, a stake above 5% confirms Centene is a significant holding for AQR-managed vehicles, but the passive certification limits governance implications. Future beneficial ownership filings would be needed to see if this percentage increases, decreases, or if the holder ever reclassifies under a more activist-oriented schedule.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

CENTENE CORP

(Name of Issuer)

Common Stock $0.001 Par Value

(Title of Class of Securities)

15135B101

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 15135B101

1

Names of Reporting Persons

AQR Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 31,798,738.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 31,798,738.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,798,738.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.47 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 15135B101

1

Names of Reporting Persons

AQR Capital Management Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 31,798,738.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 31,798,738.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,798,738.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.47 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CENTENE CORP
(b)	Address of issuer's principal executive offices: 7700 FORSYTH BLVD., ST LOUIS, MISSOURI 63105
Item 2.
(a)	Name of person filing: AQR Capital Management, LLC AQR Capital Management Holdings, LLC
(b)	Address or principal business office or, if none, residence: ONE GREENWICH PLAZA SUITE 130 Greenwich, Connecticut 06830
(c)	Citizenship: AQR Capital Management, LLC - UNITED STATES AQR Capital Management Holdings, LLC - UNITED STATES
(d)	Title of class of securities: Common Stock $0.001 Par Value
(e)	CUSIP No.: 15135B101
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 31,798,738
(b)	Percent of class: 6.47 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(ii) Shared power to vote or to direct the vote: AQR Capital Management, LLC - 31,798,738 AQR Capital Management Holdings, LLC - 31,798,738
	(iii) Sole power to dispose or to direct the disposition of: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: AQR Capital Management, LLC - 31,798,738 AQR Capital Management Holdings, LLC - 31,798,738
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2(a) above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AQR Capital Management, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

AQR Capital Management Holdings, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	02/13/2026

Exhibit Information

AQR Capital Management Holdings, LLC and AQR Capital Management, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC.

FAQ

What percentage of Centene Corp (CNC) shares does AQR own?

AQR Capital Management entities report beneficial ownership of 6.47% of Centene’s common stock. This equals 31,798,738 shares, making AQR a significant institutional shareholder without sole voting or dispositive control over these shares.

How many Centene Corp (CNC) shares are beneficially owned by AQR?

AQR Capital Management, LLC and its parent report beneficial ownership of 31,798,738 Centene common shares. All of these shares are subject to shared voting and shared dispositive power, with no sole authority reported by either entity.

Is AQR’s stake in Centene Corp (CNC) an activist position?

The filing describes AQR’s Centene stake as passive. AQR certifies the shares were acquired and are held in the ordinary course of business, not to change or influence control or participate in control-related transactions, consistent with a non-activist investment stance.

Which AQR entities are reporting ownership in Centene Corp (CNC)?

The reporting persons are AQR Capital Management, LLC and AQR Capital Management Holdings, LLC. The filing notes that AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC, and both report the same Centene share position.

What voting power does AQR have over Centene Corp (CNC) shares?

AQR reports 0 shares with sole voting power and 31,798,738 shares with shared voting power in Centene. The same 31,798,738 shares are also reported with shared dispositive power, indicating joint authority over voting and disposition decisions.

When was AQR’s ownership position in Centene Corp (CNC) measured?

The ownership information is reported as of December 31, 2025. On that date, AQR Capital Management entities beneficially owned 31,798,738 Centene common shares, representing 6.47% of the company’s outstanding common stock class.