Company: ELV
Filing Date: 2025-06-24
Form Type: 11-K
Source: 0001156039-25-000106
Chunk: 10

Company: Elevance Health, Inc.
Filing Date: 2025-06-24
Form: 11-K
Chunk 10
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| Investments measured at fair value |     |       |    988,096,746 |     |         | 984,141,718 |     |         | 3,920,987 |     |         | 34,041 |
| Investments measured at NAV        |     |       | 10,874,772,817 |     |         |             |     |         |           |     |         |        |
| Total investments at fair value    |     | $     | 11,862,869,563 |     |         |             |     |         |           |     |         |        |

Our Level 3 securities primarily consisted of certain corporate fixed maturity securities for which observable inputs were not always available. The fair values of these securities were estimated using inputs including, but not limited to, credit spreads, default rates and benchmark yields. There were no material transfers in or out of Level 3 during the year ended December 31, 2024.

The following table sets forth by level within the fair value hierarchy a summary of the Plan's investments measured at fair value on a recurring basis as of December 31, 2024:

| December 31, 2024                  |     | Total |            |     | Level 1 |            |     | Level 2 |   |     | Level 3 |   |
|:-----------------------------------|:----|:------|-----------:|:----|:--------|-----------:|:----|:--------|:--|:----|:--------|:--|
| Mutual funds                       |     | $     | 84,682,391 |     | $       | 84,682,391 |     | $       | — |     | $       | — |
| Investments measured at fair value |     |       | 84,682,391 |     |         | 84,682,391 |     |         | — |     |         | — |
| Investments measured at NAV        |     |       |  7,897,333 |     |         |            |     |         |   |     |         |   |
| Total investments at fair value    |     | $     | 92,579,724 |     |         |            |     |         |   |     |         |   |

5. Exempt Related Party and Party-In-Interest Transactions

Parties-in-interest are defined under Department of Labor ("DOL") regulations as any fiduciary of