Cardinal Health

CAH • NYSE

Cardinal Health is a medical - distribution company in the healthcare sector on NYSE, led by Jason M. Hollar, with a market cap of $47.1B. As of Q3 2025, 86% of shares are held by 1,187 institutional investors, with BlackRock, Inc. as the largest holder at 13.24%.

Chief Executive OfficerJason M. Hollar

Market Cap$47.1B

Medical - Distribution

Healthcare

Employees48.0K

Websitecardinalhealth.com

Country

United States of America

Overview

Overview of institutional ownership in CAH as of Q3 2025 with a market cap of $37.3B

All Institutions

Institutions: 1,187
Value Held: $32.1B
Shares Held: 204.7M
Avg Position: $27.0M
Median Position: $827.4K

Hedge Funds

Hedge Funds: 73
Value Held: $2.3B
Shares Held: 14.8M
Avg Position: $31.7M
Median Position: $4.1M

Ownership Breakdown

Institutional (non-HF)

79.85%

$29.8B

Hedge Funds

6.21%

$2.3B

Retail & Other

13.94%

$5.2B

Based on market cap of $37.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CAH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$4.9B 0.09% of portfolio	13.24% 31.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$4.8B 0.07% of portfolio	12.97% 30.8M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.9B 0.07% of portfolio	5.17% 12.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$1.0B 0.06% of portfolio	2.73% 6.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$911.0M 0.16% of portfolio	2.44% 5.8M shares	≤ Q2 2013 Held for 12y 5m+	$571.21B
FMR LLC Institution	-	$850.7M 0.04% of portfolio	2.28% 5.4M shares	≤ Q2 2013 Held for 12y 5m+	$1.92T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$821.0M 0.05% of portfolio	2.20% 5.2M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$563.9M 0.04% of portfolio	1.51% 3.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$546.7M 0.09% of portfolio	1.47% 3.5M shares	≤ Q2 2013 Held for 12y 5m+	$633.08B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$459.3M 0.06% of portfolio	1.23% 2.9M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B

Net Capital Flow

Institutional buying and selling activity for CAH in Q3 2025

Traded: +$1.3B
Buyers: 547
Sellers: 562
Total Bought: +$3.3B
Total Sold: −$2.0B
Avg Position: $24.5M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$551.2M +3.5M shares	$911.0M 5.8M shares
Holocene Advisors, LP Hedge Fund•Long/Short	+$177.1M +1.1M shares	$302.3M 1.9M shares
B BlackRock, Inc. Institution	+$143.9M +916.8K shares	$4.9B 31.5M shares
BARCLAYS PLC Institution	+$129.9M +827.4K shares	$248.7M 1.6M shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$117.5M +748.6K shares	$174.0M 1.1M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$110.9M +706.7K shares	$311.5M 2.0M shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	+$109.1M +707.5K shares	$352.2M 2.3M shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$105.3M +670.9K shares	$307.1M 2.0M shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	+$96.6M +615.4K shares	$129.0M 821.7K shares
A AustralianSuper Pty Ltd Institution	+$75.1M +478.7K shares	$106.8M 680.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
FMR LLC Institution	−$134.2M −854.9K shares	$850.7M 5.4M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$132.6M −844.7K shares	$24.1M 153.4K shares
PRUDENTIAL FINANCIAL INC Institution	−$105.1M −669.6K shares	$33.6M 213.8K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$102.0M −649.6K shares	$161.6M 1.0M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$89.0M −567.3K shares	$19.5M 124.0K shares
Woodline Partners LP Hedge Fund•Long/Short	−$81.3M −483.7K shares	Sold Off 0 shares
A AXA Institution	−$79.4M −472.8K shares	Sold Off 0 shares
R ROYAL BANK OF CANADA Institution	−$67.2M −428.0K shares	$93.2M 593.7K shares
STATE STREET CORP Institution	−$60.5M −385.4K shares	$1.9B 12.3M shares
L LSV ASSET MANAGEMENT Long Only Manager	−$57.6M −367.2K shares	$96.5M 614.8K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CAH in Q3 2025

New Positions: 55
New Value: $32.4M
Exited Positions: 121
Exited Value: $400.2M

New Positions

Institution	Position Value
SIERRA SUMMIT ADVISORS LLC RIA/Wealth	$9.9M 63.1K shares
Clark Capital Management Group, Inc. RIA/Wealth	$4.2M 26.8K shares
Numerai GP LLC Hedge Fund•Quant	$4.1M 26.4K shares
T TEMA ETFS LLC Institution	$2.3M 14.9K shares
Shilanski & Associates, Inc. RIA/Wealth	$2.1M 13.6K shares
FLORIDA FINANCIAL ADVISORS, LLC RIA/Wealth	$1.6M 10.0K shares
J. Safra Sarasin Holding AG Fund of Funds	$1.3M 8.6K shares
Hanlon Investment Management, Inc. RIA/Wealth	$682.5K 4.3K shares
Cheviot Value Management, LLC RIA/Wealth	$667.4K 4.1K shares
P PKO Investment Management Joint-Stock Co RIA/Wealth	$470.9K 3.0K shares

Exited Positions

Institution	Previous Position
Woodline Partners LP Hedge Fund•Long/Short	$81.3M 483.7K shares
A AXA Institution	$79.4M 472.8K shares
8 8 KNOTS MANAGEMENT, LLC Hedge Fund•Long/Short	$50.3M 299.3K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	$36.7M 218.6K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$21.8M 129.7K shares
Gradient Investments LLC RIA/Wealth	$17.7M 105.6K shares
Polar Capital Holdings Plc Long Only Manager	$12.8M 76.3K shares
E Entropy Technologies, LP Hedge Fund•Quant Macro	$6.3M 37.2K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$5.1M 30.5K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	$5.0M 29.6K shares

Options Activity

Institutions with the largest Call and Put options positions in CAH as of Q3 2025

Call Positions: 29
Call Value: $341.1M
Put Positions: 30
Put Value: $287.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$61.9M 3.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$50.0M 3.2K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$40.7M 2.6K contracts
J JANE STREET GROUP, LLC Institution	$30.8M 2.0K contracts
W WOLVERINE TRADING, LLC Institution	$20.1M 1.3K contracts
D Delta Accumulation, LLC Hedge Fund•Vol Arbitrage	$18.3M 1.7K contracts
Walleye Trading LLC RIA/Wealth	$17.1M 1.1K contracts
C Cubist Systematic Strategies, LLC Institution	$15.2M 970.0 contracts
GOLDMAN SACHS GROUP INC Institution	$11.2M 714.0 contracts
D D. E. Shaw & Co., Inc. Institution	$8.4M 536.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$68.7M 4.4K contracts
Oribel Capital Management, LP Hedge Fund•Long/Short	$59.2M 3.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$26.0M 1.7K contracts
D Delta Accumulation, LLC Hedge Fund•Vol Arbitrage	$20.2M 1.8K contracts
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$17.5M 1.1K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$13.6M 864.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$11.1M 709.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$10.2M 651.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$9.5M 604.0 contracts
H HSBC HOLDINGS PLC Institution	$6.4M 405.0 contracts

Most Committed Institutions

Institutions with CAH as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
K Krensavage Asset Management, LLC Hedge Fund•Long/Short	Michael Paul Krensavage CEO	5.79% $11.6M	0.03% 73.7K shares	Q1 2022 Held for 3y 8m	$199.9M
Oribel Capital Management, LP Hedge Fund•Long/Short	Charles Ignazio Leone CFO	4.77% $59.2M	0.16% 377.1K shares	Q4 2024 Held for 11 months	$1.2B
LIBERTY ONE INVESTMENT MANAGEMENT, LLC RIA/Wealth	Roch Richard Tranel CEO	3.82% $67.9M	0.18% 433.0K shares	Q4 2019 Held for 5y 11m	$1.8B
Orca Investment Management, LLC RIA/Wealth	Shawn Patrick Willard CCO	3.68% $4.5M	0.01% 28.6K shares	Q4 2020 Held for 4y 11m	$122.1M
CLIFFORD CAPITAL PARTNERS LLC Long Only Manager	Roger Allen Hill CEO	3.64% $21.0M	0.06% 134.0K shares	Q2 2021 Held for 4y 5m	$578.6M
Cambridge Financial Group, Inc. RIA/Wealth	Gregory Joseph Bauer Chairman	3.33% $8.6M	0.02% 54.7K shares	Q4 2024 Held for 11 months	$257.9M
Sivik Global Healthcare LLC Hedge Fund•Long/Short	Krishen Kumar Sud Managing Partner	3.19% $5.9M	0.02% 37.5K shares	Q1 2020 Held for 5y 8m	$184.7M
Beck Bode, LLC RIA/Wealth	Benjamin W Beck Managing Partner	3.17% $19.6M	0.05% 125.2K shares	Q1 2025 Held for 8 months	$618.9M
Iron Triangle Partners LP Hedge Fund•Long/Short	Michael John O'Brien CFO	3.08% $21.7M	0.06% 138.0K shares	Q4 2024 Held for 11 months	$703.3M
Empyrean Capital Partners, LP Hedge Fund•Event Driven	Amos Meron CIO	2.92% $56.1M	0.15% 357.4K shares	Q1 2025 Held for 8 months	$1.9B

Hedge Fund Spotlight

Discover hedge funds investing in CAH

Freestone Grove Partners LP

Hedge Fund • Multi-Strategy

Portfolio ManagerTodd Keefe Barker

Portfolio Value: $13.5B
Positions: 680
Last Reported: Q3 2025

Sector Allocation

Position in Cardinal Health

Market Value: $72.9M
Shares Held: 464.6K
Portfolio Weight: 0.54%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Vanguard S&P 500 ETF VOO	ETF ETF	$828.1M	6.16%
2 iShares Core S&P 500 ETF IVV	ETF ETF	$201.2M	1.50%
3 Weyerhaeuser WY	REIT - Specialty Real Estate	$166.0M	1.23%