Top Superinvestors Are Buying Elevance Health (ELV)

According to the latest 13F filings, several top investors increased their holdings in Elevance Health Inc. (ELV) this quarter, signaling growing confidence in the company’s managed-care scale, pricing discipline, and long-term earnings durability within U.S. healthcare. Below are the most notable buy-side additions only from the period:

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Brave Warrior Advisors, LLC (Glenn Greenberg)

Shares: 1,834,002  Change: +724,349  Value: $0.59B
Glenn Greenberg made the largest increase among superinvestors this quarter, substantially adding to an already sizable position. The move reflects conviction in Elevance Health’s dominant competitive position, disciplined capital allocation, and ability to compound earnings through scale advantages and data-driven care management.

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Baupost Group LLC/MA (Seth Klarman)

Shares: 1,319,000  Change: +703,000  Value: $0.43B
Seth Klarman nearly doubled Baupost’s stake, signaling strong value-oriented confidence. The aggressive addition suggests ELV is viewed as a high-quality healthcare franchise trading at an attractive margin of safety, with resilient cash flows and structural growth tied to U.S. healthcare spending.

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Grantham, Mayo, Van Otterloo & Co. LLC (Jeremy Grantham)

Shares: 2,523,450  Change: +483,340  Value: $0.82B
Jeremy Grantham added meaningfully to GMO’s already large position, reinforcing long-term confidence in Elevance Health as a defensive compounder with pricing power, demographic tailwinds, and strong return-on-capital characteristics.

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AQR Capital Management LLC (Cliff Asness)

Shares: 801,268  Change: +547,950  Value: $0.26B
Cliff Asness more than doubled AQR’s position, highlighting strong quantitative appeal. The increase points to favorable valuation metrics, earnings stability, and attractive risk-adjusted returns within the healthcare services sector.

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Sequoia Fund Inc. (Sequoia Fund)

Shares: 533,318  Change: +114,351  Value: $0.17B
Sequoia Fund added decisively, consistent with its focus on high-quality businesses with durable competitive advantages and long runways for intrinsic value growth.

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Cooperman Leon G (Leon Cooperman)

Shares: 340,900  Change: +60,000  Value: $0.11B
Leon Cooperman increased his stake, aligning with a thesis centered on predictable cash flows, strong balance sheet characteristics, and long-term healthcare demand growth.

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Gotham Asset Management, LLC (Joel Greenblatt)

Shares: 117,407  Change: +58,077  Value: $0.04B
Joel Greenblatt added substantially, consistent with Gotham’s quantitative value framework emphasizing strong earnings yield, return on capital, and downside protection.

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New Positions

Tweedy, Browne Co. LLC (Tweedy Browne)

Shares: 2,696  Change: NEW POSITION  Value: ~$0.00B
Tweedy Browne initiated a new position, reflecting selective interest in Elevance Health’s conservative financial profile, steady free cash flow, and shareholder-friendly economics.

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Fisher Asset Management, LLC (Ken Fisher)

Shares: 1,372  Change: NEW POSITION  Value: ~$0.00B
Ken Fisher also established a new stake, indicating early-stage conviction in Elevance Health as a scalable, non-cyclical healthcare leader with long-term earnings consistency.

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Overall takeaway:
This quarter’s buying activity shows broad-based accumulation across value, quantitative, and long-term fundamental investors, reinforcing Elevance Health’s status as a high-quality healthcare compounder with defensive characteristics and durable growth drivers.