Core Insights - Pelican Bay Capital Management (PBCM) reported a 7.8% return for its Concentrated Value Strategy in Q3 2025, outperforming the Russell 1000 Value Index which returned 5.3% [1] - Year-to-date, PBCM's fund returned 11.2%, slightly below the index's 11.6% [1] Company Overview: Elevance Health, Inc. (NYSE:ELV) - Elevance Health, Inc. is a health benefits company with over 45 million members, operating under brands like Anthem Blue Cross Blue Shield and Wellpoint [3] - The company has a competitive advantage through its in-house pharmacy benefit manager, Carelon [3] Stock Performance - Elevance Health's stock experienced a one-month return of -10.04% and a 52-week decline of 24.81% [2] - As of November 7, 2025, Elevance Health's stock closed at $317.78, with a market capitalization of $70.623 billion [2] Financial Performance - In Q3 2025, Elevance Health reported operating revenue of $50.1 billion, marking a 12% year-over-year increase [4] - Despite the revenue growth, the stock is not favored among hedge funds, with a decrease in holdings from 75 to 67 portfolios [4] Investment Perspective - While Elevance Health is recognized for its potential, the company is compared unfavorably to certain AI stocks that are perceived to offer greater upside potential and lower downside risk [4]