Elevance Health

ELV • NYSE

Elevance Health is a medical - healthcare plans company in the healthcare sector on NYSE, led by Gail K. Boudreaux, with a market cap of $74.1B. As of Q3 2025, 86% of shares are held by 1,459 institutional investors, with VANGUARD GROUP INC as the largest holder at 10.21%.

President and Chief Executive OfficerGail K. Boudreaux

Market Cap$74.1B

Medical - Healthcare Plans

Healthcare

Employees104.9K

Websiteelevancehealth.com

Country

United States of America

Overview

Overview of institutional ownership in ELV as of Q3 2025 with a market cap of $72.8B

All Institutions

Institutions: 1,459
Value Held: $62.8B
Shares Held: 194.5M
Avg Position: $43.1M
Median Position: $929.2K

Hedge Funds

Hedge Funds: 94
Value Held: $3.5B
Shares Held: 10.9M
Avg Position: $37.4M
Median Position: $7.3M

Ownership Breakdown

Institutional (non-HF)

81.53%

$59.3B

Hedge Funds

4.83%

$3.5B

Retail & Other

13.65%

$9.9B

Based on market cap of $72.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ELV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$7.4B 0.11% of portfolio	10.21% 23.0M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$6.6B 0.12% of portfolio	9.12% 20.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$3.3B 0.12% of portfolio	4.59% 10.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Edmund Wellington Iii President	$2.1B 0.37% of portfolio	2.94% 6.6M shares	≤ Q2 2013 Held for 12y 5m+	$571.21B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$1.9B 0.21% of portfolio	2.59% 5.8M shares	≤ Q2 2013 Held for 12y 5m+	$912.31B
Sanders Capital, LLC Long Only Manager	Lewis Alan Sanders CEO	$1.9B 2.29% of portfolio	2.56% 5.8M shares	Q4 2010 Held for 14y 11m	$81.3B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$1.7B 0.11% of portfolio	2.28% 5.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
Artisan Partners Limited Partnership Long Only Manager	Eric Richard Colson CEO	$1.5B 2.13% of portfolio	2.03% 4.6M shares	Q3 2015 Held for 10y 2m	$69.5B
F First Eagle Investment Management, LLC Long Only Manager	David Lynn Summers Managing Partner	$1.3B 2.35% of portfolio	1.78% 4.0M shares	≤ Q2 2013 Held for 12y 5m+	$54.9B
HARRIS ASSOCIATES L P Long Only Manager	David Gregory Herro Chairman	$1.0B 1.65% of portfolio	1.42% 3.2M shares	Q4 2024 Held for 11 months	$62.4B

Net Capital Flow

Institutional buying and selling activity for ELV in Q3 2025

Net Flow: −$2.8B
Buyers: 547
Sellers: 805
Total Bought: +$4.7B
Total Sold: −$7.5B
Avg Position: $40.2M

Biggest Buyers

Institution	Net Bought	Current Position
HARRIS ASSOCIATES L P Long Only Manager	+$291.5M +902.1K shares	$1.0B 3.2M shares
Artisan Partners Limited Partnership Long Only Manager	+$291.3M +901.6K shares	$1.5B 4.6M shares
F First Eagle Investment Management, LLC Long Only Manager	+$258.0M +798.5K shares	$1.3B 4.0M shares
B Brave Warrior Advisors, LLC Hedge Fund•Long/Short	+$234.1M +724.3K shares	$592.6M 1.8M shares
BAUPOST GROUP LLC/MA Hedge Fund	+$227.2M +703.0K shares	$426.2M 1.3M shares
HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC Long Only Manager	+$202.6M +627.0K shares	$660.9M 2.0M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$183.9M +569.0K shares	$488.4M 1.5M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$176.9M +548.0K shares	$258.7M 801.3K shares
Invesco Ltd. ETF Provider	+$156.5M +484.3K shares	$839.3M 2.6M shares
G Grantham, Mayo, Van Otterloo & Co. LLC Long Only Manager	+$156.2M +483.3K shares	$815.4M 2.5M shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital International Investors Institution	−$1.1B −3.5M shares	$954.6M 3.0M shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$725.8M −2.2M shares	$1.9B 5.8M shares
GQG Partners LLC Long Only Manager	−$569.3M −1.5M shares	Sold Off 0 shares
O Orbis Allan Gray Ltd RIA/Wealth	−$500.1M −1.5M shares	$422.7M 1.3M shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	−$401.6M −1.2M shares	$47.8M 147.9K shares
AMERIPRISE FINANCIAL INC Institution	−$371.9M −1.2M shares	$234.3M 725.0K shares
Robeco Investment Management, Inc. Long Only Manager	−$259.0M −799.3K shares	$50.3M 155.3K shares
S STIFEL FINANCIAL CORP Long Only Manager	−$207.3M −641.5K shares	$31.9M 98.7K shares
A Atlantic Trust Group, LLC Institution	−$201.8M −624.5K shares	$123.9M 383.3K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$191.7M −593.3K shares	$771.0M 2.4M shares

Entry and Exit Activity

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

New Positions: 63
New Value: $224.7M
Exited Positions: 216
Exited Value: $1.2B

New Positions

Institution	Position Value
8 8 KNOTS MANAGEMENT, LLC Hedge Fund•Long/Short	$57.5M 178.0K shares
L Long Focus Capital Management, LLC Hedge Fund•Global Macro	$28.1M 87.0K shares
D DEPRINCE RACE & ZOLLO INC Long Only Manager	$20.7M 64.0K shares
Allen Mooney & Barnes Investment Advisors LLC RIA/Wealth	$15.3M 47.2K shares
S SCOPIA CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$12.3M 38.2K shares
T TenCore Partners, LP Hedge Fund•Long/Short	$11.3M 35.0K shares
V Venator Management LLC Hedge Fund•Long/Short	$8.9M 27.5K shares
Levin Easterly Partners LLC Long Only Manager	$8.8M 27.1K shares
M Mizuho Markets Cayman LP Institution	$7.8M 24.2K shares
IMC-Chicago, LLC RIA/Wealth	$6.6M 20.5K shares

Exited Positions

Institution	Previous Position
GQG Partners LLC Long Only Manager	$569.3M 1.5M shares
D D1 Capital Partners L.P. Hedge Fund•Long/Short	$127.0M 326.4K shares
WOODLEY FARRA MANION PORTFOLIO MANAGEMENT INC RIA/Wealth	$51.8M 133.1K shares
A AXA Institution	$37.1M 95.3K shares
WEDGE CAPITAL MANAGEMENT L L P/NC Long Only Manager	$30.2M 77.7K shares
B Border to Coast Pensions Partnership Ltd Institution	$26.5M 68.1K shares
R Railway Pension Investments Ltd Institution	$25.8M 66.4K shares
Trexquant Investment LP Hedge Fund•Quant	$25.2M 64.7K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$20.8M 53.6K shares
MARTINGALE ASSET MANAGEMENT L P Long Only Manager	$17.3M 44.4K shares

Options Activity

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

Call Positions: 44
Call Value: $805.4M
Put Positions: 35
Put Value: $697.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$186.2M 5.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$156.3M 4.8K contracts
J JANE STREET GROUP, LLC Institution	$86.5M 2.7K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$65.0M 2.0K contracts
W WOLVERINE TRADING, LLC Institution	$58.6M 1.8K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$45.2M 1.4K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$28.5M 882.0 contracts
UBS Group AG Institution	$25.1M 776.0 contracts
D D. E. Shaw & Co., Inc. Institution	$20.7M 642.0 contracts
Q Qube Research & Technologies Ltd Institution	$17.3M 535.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$164.9M 5.1K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$138.1M 4.3K contracts
Marshall Wace LLP Institution	$64.3M 2.0K contracts
W WOLVERINE TRADING, LLC Institution	$47.7M 1.5K contracts
J JANE STREET GROUP, LLC Institution	$35.2M 1.1K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$34.6M 1.1K contracts
D D. E. Shaw & Co., Inc. Institution	$30.2M 934.0 contracts
UBS Group AG Institution	$28.3M 877.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$24.5M 757.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$18.1M 561.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
H High Ground Investment Management LLP Institution	-	15.53% $93.5M	0.13% 289.2K shares	Q4 2022 Held for 2y 11m	$601.9M
G Grafton Street Partners Fund, LP Private Equity	Scott Charles Malpass Founder	13.50% $25.1M	0.03% 77.5K shares	Q4 2024 Held for 11 months	$185.6M
B Brave Warrior Advisors, LLC Hedge Fund•Long/Short	Donna M. Martel-Downing CCO	13.20% $592.6M	0.81% 1.8M shares	Q3 2019 Held for 6y 2m	$4.5B
CNA FINANCIAL CORP Private Equity	Jared Corey Kushner CEO	11.42% $19.4M	0.03% 60.0K shares	Q4 2024 Held for 11 months	$169.8M
BAUPOST GROUP LLC/MA Hedge Fund	Christopher Poh Huei Cheang Managing Partner	9.43% $426.2M	0.59% 1.3M shares	Q1 2025 Held for 8 months	$4.5B
North Peak Capital Management, LLC Hedge Fund•Long/Short	Jeremy Steven Kahan Managing Partner	9.28% $81.7M	0.11% 252.8K shares	Q4 2024 Held for 11 months	$880.7M
R Ranmore Fund Management Ltd Institution	-	9.27% $30.4M	0.04% 94.0K shares	Q2 2025 Held for 5 months	$327.8M
H Hyperion Capital Advisors LP Hedge Fund•Long/Short	John Brooks Harris President	8.92% $16.7M	0.02% 51.6K shares	Q1 2021 Held for 4y 8m	$187.0M
Ruane, Cunniff & Goldfarb L.P. Long Only Manager	John Brooks Harris Managing Partner	7.75% $468.0M	0.64% 1.4M shares	Q1 2021 Held for 4y 8m	$6.0B
LAKEWOOD CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Anthony Theodore Bozza Managing Partner	7.38% $97.5M	0.13% 301.7K shares	Q2 2023 Held for 2y 5m	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in ELV

Generate Investment Management Ltd

Hedge Fund • Credit Arb

Portfolio ManagerAnthony Frank Pasqua

Portfolio Value: $2.0B
Positions: 81
Last Reported: Q3 2025

Sector Allocation

Position in Elevance Health

Market Value: $43.6M
Shares Held: 135.0K
Portfolio Weight: 2.21%
Owned Since: 2024-Q2

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