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Elevance Health (ELV) Fell Amid Healthcare Sector Downturn

Heartland Advisors, an investment management company, released its first-quarter 2026 investor letter for the “Heartland Opportunistic Value Equity Strategy”. A copy of the letter can be downloaded here. Improving market breadth was noted in the first quarter, but geopolitical instability in the Middle East disrupted this trend. Instead of speculating on the conflict’s duration or crude oil prices, we focus on bottom-up fundamental analysis. The market also favored AI winners with high valuations and penalized losers. Against this backdrop, the strategy appreciated 3.66%,...