What smart money is saying about Elevance Health, Inc.
7 funds in our archive have pitched Elevance Health, Inc. — most recently Baron Health Care Fund in June 2026.
Operating as a major health benefits organization, Elevance Health Inc. commits to guiding consumers, families, and communities across their entire health and wellness path. It facilitates access to vital care, assistance, and tools designed to enable healthier living for approximately 118 million individuals. The company's comprehensive offerings span medical, digital, pharmaceutical, behavioral health, clinical, and other care solutions. Founded in 1944 and based in Indianapolis, Indiana, this entity adopted its current name, Elevance Health Inc., in June 2022, having previously operated as Anthem, Inc.
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Position history
Between Q4 2024 and Q2 2026, 13 fund letters reported a position in Elevance Health, Inc. — 2 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 12 | 1 | 1 | 2 |
| Q1 2026 | 1 | 1 | 0 | 1 |
| Q4 2025 | 0 | 0 | 0 | 2 |
| Q2 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Fund activity · 13 positions · 3 moves
- HoldsHarding Loevner Global EquityJune 2026
Listed in Harding Loevner Global Equity’s reported holdings.
Read the letterElevance Health, Inc. - HoldsHotchkis & Wiley Global Value StrategyJune 2026
“Similar to Humana, shares rose because investors see increasing evidence of a recovery in profitability.”
Read the letterElevance Health, Inc. - HoldsHotchkis & Wiley Value OpportunitiesJune 2026
“Elevance Health Inc. (ELV) is the second largest health insurer, and one of the largest commercial insurers in the United States.”
Read the letterElevance Health, Inc. - AddedBaron Health Care FundJune 2026
“We reestablished positions in UnitedHealth and Elevance during the quarter as discussed below in the Recent Activity section.”
Read the letterElevance Health, Inc. - HoldsBrown Advisory Global Value Select StrategyJune 2026
“The other four largest contributors are all large Managed Care Organizations (also known as health insurers) with exposure spread across a mixture of commercial payers, Medicaid and Medicare.”
Read the letterElevance Health, Inc. - HoldsHotchkis & Wiley Large Cap Fundamental ValueJune 2026
“Elevance Health Inc. (ELV) is the second largest health insurer, and one of the largest commercial insurers in the United States.”
Read the letterElevance Health, Inc. - HoldsArtisan Partners Select Equity StrategyJune 2026
“Elevance’s share price climbed 33% this quarter.”
Read the letterElevance Health, Inc. - TrimmedSequoia Fund (Ruane Cunniff LP)June 2026
“We funded these purchases by trimming our investments in Sunbelt Rentals and Elevance Health and exiting the last of our holdings in Amentum Holdings, Liberty Broadband, and Credit Acceptance Corp.”
Read the letterElevance Health, Inc. - HoldsHotchkis & Wiley Large Cap Disciplined ValueJune 2026
“Elevance Health Inc. (ELV) is the second largest health insurer, and one of the largest commercial insurers in the United States.”
Read the letterElevance Health, Inc. - HoldsArtisan Partners US Select Equity FundJune 2026
“Aramark (contract catering), Elevance (health insurance company), Alphabet and Citigroup (money center bank) all returned between 24% and 40%.”
Read the letterElevance Health, Inc. - HoldsArtisan Partners Global Value FundJune 2026
“Elevance’s share price climbed 33% this quarter.”
Read the letterElevance Health, Inc. - HoldsGreensKeeper Value FundJune 2026
“Elevance Health (ELV) was another strong contributor during the quarter, gaining 32.1%.”
Read the letterElevance Health, Inc. - AddedBA Beutel Goodman World Value FundMarch 2026
“We added to our existing positions in Euronext, Michelin, Carlsberg, NetApp, Elevance, Qualcomm and Wells Fargo.”
Read the letterElevance Health, Inc.
Also mentioned · 2
These funds discuss Elevance Health, Inc. — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedArtisan Partners Value Equity StrategyJune 2026
“Our top five contributors to return in Q2 were Texas Instruments, Lam Research, NXP Semiconductors, Elevance Health and Alphabet.”
Read the letterElevance Health, Inc. - MentionedHarris Associates U.S. Large Value StrategyJune 2026
“Elevance Health was a contributor during the quarter.”
Read the letterElevance Health, Inc.
Fund coverage · 7 theses
- Baron Health Care FundJune 2026
Elevance Health offers diversified managed care services, with a favorable insurance cycle, AI cost benefits, and margin recovery upside.
Read the full thesis - GreensKeeper Value FundJune 2026
Elevance Health, Inc. has a strong commercial health insurance franchise, improving cost trends, and potential for an earnings recovery.
Read the full thesis - Hotchkis & Wiley Large Cap Fundamental ValueMarch 2026
Elevance Health, Inc. is a large, high-quality insurer trading at a discount with long-term growth and margin improvement potential despite near-term policy headwinds.
Read the full thesis - Meditation CapitalDecember 2025
Elevance Health is a diversified insurer with a strong Anthem Blue Cross Blue Shield brand, attractive valuation and margin normalization potential, and possible AI-driven efficiencies supporting a ~25% 4-year IRR.
Read the full thesis - Sequoia FundDecember 2025
Elevance Health is a deeply entrenched insurer with cyclical margin headwinds in government lines that should normalize, trading at a single-digit multiple of normalized earnings.
Read the full thesis - BA Beutel Goodman US Value FundJune 2025
Elevance Health Inc. is a major managed care organization poised for growth due to favorable trends in government outsourcing and value-based care, despite current margin pressures.
Read the full thesis - Harris Global Concentrated StrategyDecember 2024
Elevance Health is poised for recovery as its stock, currently undervalued due to temporary industry challenges, is expected to bounce back, reflecting its quality and growth potential.
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