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NYSE · Health Care

ELEVANCE HEALTH INC ELV

Elevance Health is the leading health benefits company in the United States, providing employer, individual, Medicare and Medicaid health insurance plans to approximately 45 million medical members, as well as pharmacy, nursing and specialty services through the Carelon platform. Revenue in 2025 is US$197.6 billion, and adjusted earnings per share guidance in 2026 is no less than US$25.5, focusing on profit margin recovery. The investment analysis portal mainly focuses on medical cost management, member number trends and Carelon service growth.

Sources Company earnings and call materials quartr.com
Medical Specialities

Company profile

Business mix

  • The traditional health insurance business covers employer, individual, Medicare and Medicaid markets, with 45.2 million medical members at the end of 2025.
  • The Carelon platform provides pharmacy benefit management, care management, specialty services and technology solutions. Operating income will increase by 33% in 2025, becoming the company's growth engine.
  • The company extends its service ecosystem through mergers and acquisitions and investment in AI technology, such as strategic acquisitions in the health service field to enhance capabilities.

Current key questions

  • Due to rising medical costs, net profit fell 22.5% year-on-year in the third quarter of 2025, mainly due to pressure on Medicaid costs.
  • Medicare Advantage quality ratings have improved, with 59% of members covered by 4-star and above plans (compared to 40% last year), but face risks from federal regulation and market competition.
  • Adjusted earnings per share guidance for 2026 is ≥ US$25.5, with the company focusing on profit margin recovery through business membership growth and Carelon service expansion.
Holders 10 Current sample portfolio
Public mentions 0 Videos / interviews / letters
Valuation snapshot
PE 17.67 FCF 7.15% Buyback 3.57%
2026-06-07

Current firm holders

Firm Weight Value Filing period
Oakmark / Harris Associates Bill Nygren 1.9% $1.4B 2026-03-31
First Eagle legacy Jean-Marie Eveillard 1.6% $1.2B 2026-03-31
Eagle Capital Management 1.5% $453.4M 2026-03-31
Sequoia Fund 6.7% $406.3M 2026-03-31
Baillie Gifford legacy James Anderson 0.4% $343.3M 2026-03-31
Brave Warrior Advisors Glenn Greenberg 8.1% $328.6M 2026-03-31
Yacktman Asset Management Stephen Yacktman 1.3% $97.9M 2026-03-31
Vulcan Value Partners C.T. Fitzpatrick 2.3% $86.9M 2026-03-31
Tweedy, Browne Company 0.1% $1.4M 2026-03-31
Baupost Group Seth Klarman 7.3% $373,301 2026-03-31

Recent trading changes over the last 3 quarters

Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Net buyers 8 Last 3 13F filing periods
Net reducers 5 Last 3 13F filing periods
Unchanged holders 1 Share count unchanged
Increase amount $1.1B Estimated from net added shares
Reduction amount $497.8M Estimated from net reduced shares
Net share change / base shares +23.8% +3,110,521 / 13,059,677
Gotham Asset Management Joel Greenblatt 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 97.9% 13F value change +$14.9M
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -4.0% 13F value change +$1.6M
13F 2026-03-31 Filed 2026-05-15
Major reduction Shares -64.7% 13F value change -$27.8M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 59,330 Last 3 periods -19,516 (-32.9%) Total shares 39,814 Value $11.7M
Oakmark / Harris Associates Bill Nygren 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 39.4% 13F value change +$140.9M
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 50.3% 13F value change +$650.1M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 0.0% 13F value change -$276.5M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 2,287,565 Last 3 periods +2,508,961 (+109.7%) Total shares 4,796,526 Value $1.4B
Sequoia Fund 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 32.2% 13F value change +$41.8M
13F 2025-12-31 Filed 2026-02-13
Minor reduction Shares -1.8% 13F value change +$30.7M
13F 2026-03-31 Filed 2026-05-15
Minor reduction Shares -2.4% 13F value change -$92.3M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 1,095,655 Last 3 periods +292,313 (+26.7%) Total shares 1,387,968 Value $406.3M
Brave Warrior Advisors Glenn Greenberg 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 65.3% 13F value change +$161.0M
13F 2025-12-31 Filed 2026-02-17
Major reduction Shares -31.7% 13F value change -$153.8M
13F 2026-03-31 Filed 2026-05-15
Minor reduction Shares -10.3% 13F value change -$110.3M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 1,109,653 Last 3 periods +12,655 (+1.1%) Total shares 1,122,308 Value $328.6M
Eagle Capital Management 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Minor reduction Shares -0.2% 13F value change -$104.7M
13F 2025-12-31 Filed 2026-02-17
Minor reduction Shares -4.3% 13F value change +$19.4M
13F 2026-03-31 Filed 2026-05-15
Minor increase Shares 3.0% 13F value change -$73.9M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 1,574,950 Last 3 periods -26,340 (-1.7%) Total shares 1,548,610 Value $453.4M
Eminence Capital Ricky Sandler 3 filing periods
13F 2025-09-30 Filed 2025-11-14
Major increase Shares 52.1% 13F value change +$24.7M
13F 2025-12-31 Filed 2026-02-17
Major increase Shares 32.8% 13F value change +$52.3M
13F 2026-03-31 Filed 2026-05-15
Sold out Shares -100.0% 13F value change -$170.8M
Settlement As of 13F 2026-03-31 · Filed 2026-05-15
Base shares 241,157 Last 3 periods -241,157 (-100.0%) Total shares 0 Value $0
Baupost Group Seth Klarman 3 filing periods
13F 2025-09-30 Filed 2025-11-13
Major increase Shares 114.1% 13F value change +$186,596
13F 2025-12-31 Filed 2026-02-13
Minor reduction Shares -3.8% 13F value change +$18,759
13F 2026-03-31 Filed 2026-05-14
Minor increase Shares 0.5% 13F value change -$71,653
Settlement As of 13F 2026-03-31 · Filed 2026-05-14
Base shares 616,000 Last 3 periods +659,154 (+107.0%) Total shares 1,275,154 Value $373,301
First Eagle legacy Jean-Marie Eveillard 3 filing periods
13F 2025-09-30 Filed 2025-11-12
Major increase Shares 25.0% 13F value change +$47.3M
13F 2025-12-31 Filed 2026-02-04
Minor increase Shares 0.6% 13F value change +$118.2M
13F 2026-03-31 Filed 2026-05-12
Minor increase Shares 2.7% 13F value change -$200.5M
Settlement As of 13F 2026-03-31 · Filed 2026-05-12
Base shares 3,200,146 Last 3 periods +932,145 (+29.1%) Total shares 4,132,291 Value $1.2B
Vulcan Value Partners C.T. Fitzpatrick 3 filing periods
13F 2025-09-30 Filed 2025-11-10
Major increase Shares 42.7% 13F value change +$11.9M
13F 2025-12-31 Filed 2026-02-09
Minor reduction Shares -7.9% 13F value change -$282,495
13F 2026-03-31 Filed 2026-05-11
Major reduction Shares -23.2% 13F value change -$48.5M
Settlement As of 13F 2026-03-31 · Filed 2026-05-11
Base shares 293,731 Last 3 periods +3,040 (+1.0%) Total shares 296,771 Value $86.9M
Baillie Gifford legacy James Anderson 3 filing periods
13F 2025-09-30 Filed 2025-10-31
Minor reduction Shares -3.1% 13F value change -$169.9M
13F 2025-12-31 Filed 2026-01-23
Minor reduction Shares -8.7% 13F value change -$6.8M
13F 2026-03-31 Filed 2026-05-08
Major reduction Shares -40.7% 13F value change -$350.0M
Settlement As of 13F 2026-03-31 · Filed 2026-05-08
Base shares 2,237,022 Last 3 periods -1,064,214 (-47.6%) Total shares 1,172,808 Value $343.3M
Tweedy, Browne Company 1 filing periods
13F 2026-03-31 Filed 2026-05-06
Major increase Shares 53.3% 13F value change +$307,509
Settlement As of 13F 2026-03-31 · Filed 2026-05-06
Base shares 3,128 Last 3 periods +1,668 (+53.3%) Total shares 4,796 Value $1.4M
Yacktman Asset Management Stephen Yacktman 3 filing periods
13F 2025-09-30 Filed 2025-11-04
Minor reduction Shares -2.0% 13F value change -$24.7M
13F 2025-12-31 Filed 2026-02-03
Minor reduction Shares -1.7% 13F value change +$7.2M
13F 2026-03-31 Filed 2026-05-01
Minor increase Shares 1.7% 13F value change -$17.4M
Settlement As of 13F 2026-03-31 · Filed 2026-05-01
Base shares 341,340 Last 3 periods -7,025 (-2.1%) Total shares 334,315 Value $97.9M
GQG Partners Rajiv Jain 2 filing periods
13F 2025-06-30 Filed 2025-08-13
New Shares - 13F value change +$569.3M
13F 2025-09-30 Filed 2025-11-13
Sold out Shares -100.0% 13F value change -$569.3M
Settlement As of 13F 2025-09-30 · Filed 2025-11-13
Base shares 0 Last 3 periods +0 (New) Total shares 0 Value $0
Bridgewater Associates Ray Dalio 2 filing periods
13F 2025-03-31 Filed 2025-05-14
New Shares - 13F value change +$36.3M
13F 2025-06-30 Filed 2025-08-13
Major reduction Shares -29.4% 13F value change -$13.4M
Settlement As of 13F 2025-06-30 · Filed 2025-08-13
Base shares 0 Last 3 periods +58,837 (New) Total shares 58,837 Value $22.9M

Recent mentions

No public mentions.