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First Eagle Global Fund points to Elevance Health as Q2 contributor
The fund cited Elevance Health shares rising in the quarter, with ELV closing at $392.54 on Aug. 31, 2026.
First Eagle Investment Management highlighted Elevance Health, Inc. in its Q2 2026 investor update for the First Eagle Global Fund, describing ELV as a notable contributor amid a strong rally in risk markets during the quarter, according to Yahoo Finance. The update said the S&P 500 rose 15.2% in Q2 2026 and the MSCI EAFE gained 10.8%, with growth stocks outperforming value. It also pointed to a shift in U.S. interest rate expectations after Kevin Warsh was appointed chair of the Federal Open Market Committee, which pushed Treasury yields higher and strengthened the dollar.
In the same context, the fund returned 2.86% in Q2 2026, with emerging markets and developed Europe as the primary contributors, while Developed Asia excluding Japan was the only detractor. Yahoo Finance reported that the fund underperformed the MSCI World Index during the period.
For Elevance Health specifically, Yahoo Finance noted ELV closed at $392.54 per share on Aug. 31, 2026, and that the stock was up 21.78% over the past year. The report also said Elevance Health, the health insurer and healthcare-services provider formerly known as Anthem, rallied during the quarter as margins improved.
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