What smart money is saying about Cencora
3 funds in our archive have pitched Cencora, most recently Alpha Wealth Fund The Insiders Fund in July 2026.
Cencora, Inc. functions as a global leader in the sourcing and distribution of pharmaceutical products, with operations spanning both the United States and international markets. Within its U.S. Healthcare Solutions segment, the company supplies a broad spectrum of pharmaceutical items, including generic and injectable medications, over-the-counter health products, and home healthcare equipment. Its extensive client network includes acute care hospitals, health systems, a variety of retail and mail-order pharmacies (independent, chain, long-term care), medical clinics, and other healthcare providers. This division also manages the distribution of crucial specialized pharmaceutical products like plasma, blood derivatives, and vaccines. Beyond product supply, Cencora offers comprehensive support services, such as pharmacy management, staffing solutions, and strategic consulting. It develops and implements supply management software, provides packaging services for both institutional and retail healthcare settings, and assists with clinical trial support, post-market approval processes, and commercialization strategies. For biotechnology and pharmaceutical manufacturers, the company delivers data analytics, outcomes research, and other specialized services. Furthermore, Cencora serves the animal health market, providing pharmaceuticals, vaccines, parasiticides, diagnostics, and micro feed ingredients for both companion and production animals. It also offers sales force support to manufacturers and specialized services to medical professionals, particularly oncologists, as well as to hospitals and dialysis clinics. The International Healthcare Solutions division concentrates on global pharmaceutical wholesale activities, associated services, and worldwide commercialization support. It ensures the efficient distribution of medicines, various healthcare goods, and related services to an international customer base comprising pharmacies, doctors, health centers, and hospitals. This segment also delivers specialized transportation and logistics solutions specifically designed for the biopharmaceutical sector. Founded in 1871, the company was formerly known as AmerisourceBergen Corporation before adopting the name Cencora, Inc. in August 2023. Its corporate headquarters are situated in Conshohocken, Pennsylvania.
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Fund signal · last 12 months
6 lettersToo few moves on Cencora yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q3 2026, 9 fund letters reported a position in Cencora, with 2 buys (opened or added) and 3 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 1 |
| Q2 2026 | 3 | 1 | 1 | 0 |
| Q1 2026 | 1 | 1 | 0 | 0 |
| Q2 2025 | 2 | 0 | 1 | 2 |
| Q1 2025 | 1 | 0 | 1 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 5 moves
- September 2026
“Cencora, Inc. Distributes pharmaceutical & medical products to pharmacies, hospitals, & other health care providers 2.70”
Cencora - July 2026
“9.Cencora Group (COR) ● Business: formerly known as AmerisourceBergen, is a top-tier global pharmaceutical solutions leader and a top 10 Fortune 500 company.”
Cencora - June 2026
“In addition to ROBLOX and Insulet, we also ended our investment campaign in Cencora during the quarter. Cencora is a major drug distributor across branded, generic and specialty drugs. We exited the position as the profit cycle matured and recent results suggested that the strongest period of earnings momentum is likely behind the company.”
Cencora - AddedLatitude Global FundJune 2026
“In May, Cencora reported earnings. The company has generated fundamental value growth (earnings per share + dividends) of 15% per year for the past five and ten years, and our research suggests this will continue. On their earnings call, the company noted a 2% miss in recent earnings estimates, while simultaneously increasing guidance for the full year by about 2%. The shares fell 20% to 12.5x PE. We added substantially to the position that day at $250 per share.”
Cencora - June 2026
“Cencora, Inc. 2.10”
Cencora - March 2026
“Cencora Inc. sources and distributes pharmaceutical products. Reported mixed fiscal first quarter results as revenues for the US Healthcare business came in slightly below sell-side projections, and the International was in-line. Its stock price pulled back -7% and we added to the position on weakness. Of note, the index sector had an average return for the quarter of -10%.”
Cencora - June 2025
“If Sector % of Portfolio Holding % of Portfolio Technology 29.26% AppLovin Corp. Class A 4.31% Financial Services 15.98% Palantir Technologies Inc. Class A 3.99% Consumer Discretionary 15.65% Natera, Inc. 2.78% Health Care 15.58% Ameriprise Financial, Inc. 2.47% Producer Durables 14.02% Datadog, Inc. Class A 2.44% Energy 3.64% Ulta Beauty Inc. 2.24% Materials & Processing 2.40% Burlington Stores, Inc. 2.17% Consumer Staples 1.40% FTAI Aviation Ltd. 2.15% Cash / Other Assets and Liabilities 1.15% Cencora, Inc. 2.00%”
Cencora - TrimmedBA Beutel Goodman US Value FundJune 2025
“In addition, we trimmed our positions in eBay Inc., Amdocs Ltd. and Gen Digital Inc., and completed a process-driven one- third trim of Cencora Inc. as the stock reached our target price.”
Cencora - TrimmedBell Global Sustainable FundMarch 2025
“Additionally, pharmaceutical distributor, Cencora, was among the strongest contributors to portfolio performance over the month, extending its recent period of outperformance. The stock benefitted from its positioning as a defensive compounder within the ;ealth Care sector, offering relatively limited exposure to policy and tariff-related risks. Since inception of the position over 1' years ago, Cencora has generated a 1'% CAGE in earnings and delivered total shareholder returns in excess of 1*% p.a. While we modestly trimmed our position during the period to crystallise gains following the strong rally, we retain conviction in the name given its attractive risk-return profile and ongoing ability to compound through the cycle.”
Cencora
Also mentioned · 3
These funds discuss Cencora as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedAristotle Global Equity AdvisorySeptember 2026
“Headquartered in Irving, Texas, and founded in 1833, McKesson is the market leader in U.S. pharmaceutical distribution. The company serves as a critical intermediary within the healthcare system, sourcing branded, generic, specialty, biosimilar and over-the-counter pharmaceuticals from manufacturers and delivering them to retail pharmacies, hospitals, health systems, physician practices, long-term care providers and other healthcare customers. Together with Cardinal Health and Cencora, McKesson is one of three dominant national pharmaceutical distributors that collectively account for more than 90% of the U.S. market.”
Cencora - MentionedTimesSquare U.S. Mid Cap GrowthJune 2026
“Cencora Inc. sources and distributes pharmaceutical products.”
Cencora - MentionedCDTMay 2026
“Increasingly insiders from high caliber companies such as Boston Scientific (BSX), Intuit (INTU), Textron (TXT), Flowserve (FLS) and Cencora (COR) are buying up the shares of the businesses they manage.”
Cencora
Fund coverage · 3 theses
- Alpha Wealth Fund The Insiders FundJuly 2026
Cencora is a high-quality pharmaceutical distributor with near-monopoly scale, strong cash generation, and long-term compounding potential.
Read the full thesis - LRT Capital ManagementJune 2025
Cencora, Inc. is a leading pharmaceutical distribution company with a strong competitive advantage in an oligopolistic market, providing essential logistics and services that connect manufacturers with healthcare providers, ensuring steady, recession-proof growth and long-term value creation.
Read the full thesis Cencora is a major drug distributor enhancing its specialty drug business through higher margin services and acquisitions, positioning itself for increased market share and profits.
Read the full thesis
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