Is Elevance Health (ELV) a Mispriced Opportunity?

Sound Shore Management, an investment management firm, has released its investor letter for the second quarter of 2026. The letter can be downloaded here. The Sound Shore Fund’s Investor Class (SSHFX) and Institutional Class (SSHVX) rose 10.48% and 10.58% in the second quarter of 2026, trailing the Russell 1000 Value Index’s 13.87% and the S&P 500’s 15.20% returns. Over three years, SSHFX and SSHVX posted annualized gains of 19.41% and 19.66%, outperforming the Russell Value (17.79%) but...