Elanco Animal Health Inc.

ELAN • NYSE

Elanco Animal Health Inc. is a drug manufacturers - specialty & generic company in the healthcare sector on NYSE, led by Jeffrey Simmons, with a market cap of $10.9B. As of Q3 2025, 115% of shares are held by 398 institutional investors, with DODGE & COX as the largest holder at 16.66%.

Chief Executive OfficerJeffrey Simmons

Market Cap$10.9B

Drug Manufacturers - Specialty & Generic

Healthcare

Employees9.8K

Websiteelanco.com

Country

United States of America

Overview

Overview of institutional ownership in ELAN as of Q3 2025 with a market cap of $10.0B

All Institutions

Institutions: 398
Value Held: $11.5B
Shares Held: 570.2M
Avg Position: $28.9M
Median Position: $650.6K

Hedge Funds

Hedge Funds: 30
Value Held: $589.0M
Shares Held: 29.3M
Avg Position: $19.6M
Median Position: $4.7M

Ownership Breakdown

Institutional (non-HF)

108.87%

$10.9B

Hedge Funds

5.89%

$589.0M

Retail & Other

Based on market cap of $10.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ELAN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
DODGE & COX Long Only Manager	Dana Morton Emery CEO	$1.7B 0.90% of portfolio	16.66% 82.8M shares	Q3 2021 Held for 4y 2m	$185.33B
FMR LLC Institution	-	$1.3B 0.07% of portfolio	13.16% 65.4M shares	Q3 2018 Held for 7y 2m	$1.92T
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	Theofanis A Kolokotrones Chairman	$1.0B 0.78% of portfolio	10.06% 50.0M shares	Q3 2018 Held for 7y 2m	$128.84B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$978.5M 0.01% of portfolio	9.78% 48.6M shares	Q3 2018 Held for 7y 2m	$6.69T
B BlackRock, Inc. Institution	-	$930.0M 0.02% of portfolio	9.29% 46.2M shares	Q3 2018 Held for 7y 2m	$5.67T
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$634.6M 0.39% of portfolio	6.34% 31.5M shares	Q3 2023 Held for 2y 2m	$161.58B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	Gerard Kieran O'Reilly CEO	$497.6M 0.11% of portfolio	4.97% 24.7M shares	Q1 2019 Held for 6y 8m	$466.32B
UBS Group AG Institution	Sergio P. Ermotti CEO	$331.7M 0.06% of portfolio	3.31% 16.5M shares	Q3 2018 Held for 7y 2m	$511.54B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$307.1M 0.01% of portfolio	3.07% 15.2M shares	Q3 2018 Held for 7y 2m	$2.88T
Black Creek Investment Management Inc. Long Only Manager	Richard Lyle Jenkins Chairman	$251.4M 11.85% of portfolio	2.51% 12.5M shares	Q1 2023 Held for 2y 8m	$2.1B

Net Capital Flow

Institutional buying and selling activity for ELAN in Q3 2025

Net Flow: +$553.6M
Buyers: 163
Sellers: 144
Total Bought: +$1.5B
Total Sold: −$950.9M
Avg Position: $31.3M

Biggest Buyers

Institution	Net Bought	Current Position
B BlackRock, Inc. Institution	+$465.4M +23.1M shares	$930.0M 46.2M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$240.8M +12.0M shares	$634.6M 31.5M shares
STATE STREET CORP Institution	+$123.2M +6.1M shares	$307.1M 15.2M shares
UBS Group AG Institution	+$120.1M +6.0M shares	$331.7M 16.5M shares
Bank of New York Mellon Corp Institution	+$67.7M +3.4M shares	$103.3M 5.1M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	+$39.5M +2.0M shares	$497.6M 24.7M shares
JUPITER ASSET MANAGEMENT LTD Long Only Manager	+$37.2M +1.8M shares	$74.9M 3.7M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$35.8M +1.8M shares	$113.0M 5.6M shares
M MANUFACTURERES LIFE INSURANCE CO Institution	+$31.1M +1.5M shares	$152.7M 7.6M shares
JPMORGAN CHASE & CO Institution	+$29.8M +1.5M shares	$38.6M 1.9M shares

Biggest Sellers

Institution	Net Sold	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$178.4M −8.9M shares	$97.5M 4.8M shares
Black Creek Investment Management Inc. Long Only Manager	−$136.3M −6.8M shares	$251.4M 12.5M shares
PRUDENTIAL FINANCIAL INC Institution	−$65.8M −3.3M shares	$13.9M 691.8K shares
SHAPIRO CAPITAL MANAGEMENT CO INC Long Only Manager	−$58.3M −2.9M shares	$128.8M 6.4M shares
BARROW HANLEY MEWHINNEY & STRAUSS LLC Long Only Manager	−$52.2M −2.6M shares	$101.4M 5.0M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$50.4M −2.5M shares	$217.1K 10.8K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	−$47.0M −2.3M shares	$1.2M 60.0K shares
B BRANDES INVESTMENT PARTNERS, LP Long Only Manager	−$43.5M −2.2M shares	$119.6M 5.9M shares
GOLDMAN SACHS GROUP INC Institution	−$41.9M −2.1M shares	$27.8M 1.4M shares
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	−$36.4M −1.8M shares	$1.0B 50.0M shares

Entry and Exit Activity

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

New Positions: 45
New Value: $95.3M
Exited Positions: 35
Exited Value: $49.9M

New Positions

Institution	Position Value
B BOWEN HANES & CO INC Institution	$47.6M 2.4M shares
R Retirement Systems of Alabama Institution	$12.1M 600.7K shares
N NEW YORK STATE TEACHERS RETIREMENT SYSTEM Institution	$5.5M 273.3K shares
MUTUAL OF AMERICA CAPITAL MANAGEMENT CORP Long Only Manager	$4.6M 229.4K shares
E Estate Counselors, LLC Institution	$4.2M 210.6K shares
L Louisiana State Employees Retirement System Institution	$2.8M 138.3K shares
S State of Tennessee, Treasury Department Institution	$2.7M 135.6K shares
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Private Equity	$2.6M 127.5K shares
S STATE TREASURER STATE OF MICHIGAN Institution	$2.4M 118.3K shares
NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC Insurance Manager	$2.2M 110.7K shares

Exited Positions

Institution	Previous Position
T TANG CAPITAL MANAGEMENT LLC Institution	$11.4M 800.1K shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	$10.4M 728.3K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$4.4M 310.4K shares
SANDERS MORRIS HARRIS INC. Long Only Manager	$4.1M 286.3K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$4.0M 279.1K shares
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$3.9M 273.6K shares
Trexquant Investment LP Hedge Fund•Quant	$3.0M 213.3K shares
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$2.1M 147.8K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$1.9M 133.2K shares
A ARP AMERICAS LLC Hedge Fund•Long/Short	$714.0K 50.0K shares

Options Activity

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

Call Positions: 9
Call Value: $15.7M
Put Positions: 11
Put Value: $21.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.2M 2.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.3M 1.6K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$2.9M 1.4K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$2.0M 988.0 contracts
J JANE STREET GROUP, LLC Institution	$1.4M 694.0 contracts
W WOLVERINE TRADING, LLC Institution	$743.2K 379.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$149.0K 74.0 contracts
Walleye Trading LLC RIA/Wealth	$44.3K 22.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
BlackBarn Capital Partners LP Hedge Fund•Multi-Strategy	$15.1M 7.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.1M 1.1K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.5M 759.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.5M 756.0 contracts
J JANE STREET GROUP, LLC Institution	$592.1K 294.0 contracts
W WOLVERINE TRADING, LLC Institution	$470.6K 240.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$402.8K 200.0 contracts
Walleye Trading LLC RIA/Wealth	$6.0K 3.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$4.0K 2.0 contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$2.0K 1.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Black Creek Investment Management Inc. Long Only Manager	Richard Lyle Jenkins Chairman	11.85% $251.4M	2.51% 12.5M shares	Q1 2023 Held for 2y 8m	$2.1B
Redwood Grove Capital, LLC Hedge Fund•Value	Gregory Ryan Serrurier Managing Partner	8.11% $28.3M	0.28% 1.4M shares	Q1 2025 Held for 8 months	$349.4M
SHAPIRO CAPITAL MANAGEMENT CO INC Long Only Manager	Louis Steven Shapiro President	5.80% $128.8M	1.29% 6.4M shares	Q2 2021 Held for 4y 5m	$2.2B
D DDD Partners, LLC Institution	-	2.25% $35.3M	0.35% 1.8M shares	Q4 2024 Held for 11 months	$1.6B
O Old West Investment Management, LLC Hedge Fund•Multi-Strategy	Brian Alan Laks Managing Partner	2.07% $9.1M	0.09% 452.2K shares	Q4 2024 Held for 11 months	$439.2M
S Sapience Investments, LLC Long Only Manager	Samir (Nmn) Sikka CEO	1.90% $486.0K	0.00% 24.1K shares	Q3 2021 Held for 4y 2m	$25.5M
P Perbak Capital Partners LLP Institution	-	1.75% $10.0M	0.10% 494.4K shares	Q2 2024 Held for 1y 5m	$568.0M
S SECTOR GAMMA AS Institution	-	1.53% $6.2M	0.06% 307.3K shares	Q4 2024 Held for 11 months	$403.3M
B BOWEN HANES & CO INC Institution	-	1.22% $47.6M	0.48% 2.4M shares	Q3 2025 Held for 2 months	$3.9B
Integral Health Asset Management, LLC Hedge Fund•Sector	Bhagwan Jay Rao CIO	1.22% $16.1M	0.16% 800.0K shares	Q2 2025 Held for 5 months	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in ELAN

Integral Health Asset Management, LLC

Hedge Fund • Sector

Portfolio ManagerBhagwan Jay Rao

Portfolio Value: $1.3B
Positions: 70
Last Reported: Q3 2025

Sector Allocation

Position in Elanco Animal Health Inc.

Market Value: $16.1M
Shares Held: 800.0K
Portfolio Weight: 1.22%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Insmed INSM	Biotechnology Healthcare	$230.4M	17.41%
2 Cytokinetics CYTK	Biotechnology Healthcare	$76.9M	5.82%
3 Tenet Healthcare THC	Medical - Care Facilities Healthcare	$60.9M	4.60%