Signal dossier · Q4 2025

UNH

UnitedHealth · Healthcare

HoldLens verdict · single −100..+100 scale

SELL

−4

3Q BUY

on a signed −100 sell scale · WEAK SELL

2 tracked managers selling. MODERATE sell signal.

Unified ConvictionScore · −100..+100

Smart money + insider + track record + trend + concentration + contrarian − dissent − crowding

−4

Buy component

+28

Dissent penalty

−32

Unanimity bonus

Quality differential

-6

Info density

+13

Buyers / Sellers

2 / 2

ConvictionScore v5 · 9-layer breakdown

13F superinvestor moves + Form 4 insider trades + 8-K material events. The SEC Signals trilogy.

−4

Smart money (13F)

+13

Insider activity (Form 4)

Track record (CAGR)

-3

Trend streak

Concentration

+10

Contrarian bonus

Event signal (8-K)

− Dissent penalty

−32

− Crowding penalty

−0

Owners: 2·Buyers: 18·Sellers: 33·Buyer-CAGR-weighted expected return: +11.2% ±2.2%·How this is computed

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8-quarter activity

Distinct managers buying or selling UNH each quarter — last 2 years.

3 buy moves·0 sell moves·net buying

'24 Q1

'24 Q2

'24 Q3

'24 Q4

'25 Q1

'25 Q2

'25 Q3

'25 Q4

Buyers (new + add)Sellers (trim + exit)

Ownership breadth · 8 quarters

Breadth falling

-3 owners over 8Q

Q1 '24

Q2 '24

Q3 '24

Q4 '24

Q1 '25

Q2 '25

Q3 '25

Q4 '25

Fewer superinvestors hold this name than 8 quarters ago — rotation out. See the most-owned names across all tracked managers →

Multi-quarter conviction

Managers who have been moving the same direction on UNH for 2+ consecutive quarters. Streaks matter far more than single-quarter moves — they reveal thesis conviction, not reactive trading.

Consecutive-quarter BUYERS

Joel Greenblatt
Gotham Asset Management
3Q

Smart money activity

Every tracked 13F move on UNH — grouped by quarter, ranked by manager quality.

Smart money activity

18 buys · 33 sells across tracked 13F filings

Net signal: STRONG SELL

Q4 2025(4 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management Adding aggressively on UnitedHealth's pullback.	Add 30.00%	+60K	3.10%
Andreas HalvorsenElite Viking Global Investors	Buy (new)	+1.20M	1.00%
Polen CapitalElite Polen Capital Management	Reduce 19.00%	-286	0.00%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Reduce 19.00%	-9K	0.00%

Q3 2025(8 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management Adding on UnitedHealth pullback.	Add 20.00%	+40K	2.50%
Bill Nygren Oakmark Funds	Buy (new)	+1K	0.00%
David TepperTier 1 Appaloosa Management	Reduce 92.00%	-2.25M	1.00%
Stephen MandelTier 1 Lone Pine Capital	Sell (exit)	-1.69M	0.00%
Polen CapitalElite Polen Capital Management	Reduce 76.00%	-5K	0.00%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Reduce 93.00%	-643K	0.00%
Glenn Greenberg Brave Warrior Advisors	Sell (exit)	-1K	0.00%
Michael Burry Scion Asset Management	Sell (exit)	-370K	0.00%

Q2 2025(9 moves)

Portfolio manager	Activity	Share change	% portfolio
Warren BuffettTier 1 Berkshire Hathaway	Buy (new)	+5.04M	0.60%
David TepperTier 1 Appaloosa Management	Add 1300%	+2.27M	11.90%
Stephen MandelTier 1 Lone Pine Capital	Buy (new)	+1.69M	3.80%
Joel GreenblattElite Gotham Asset Management Adding on healthcare weakness.	Add 12.00%	+22K	2.00%
Glenn Greenberg Brave Warrior Advisors	Add 200%	+1K	0.00%
Michael Burry Scion Asset Management	Buy (new)	+370K	20.00%
David RolfeTier 1 Wedgewood Partners	Sell (exit)	-10K	0.00%
Andreas HalvorsenElite Viking Global Investors	Sell (exit)	-2.14M	0.00%
Polen CapitalElite Polen Capital Management	Reduce 99.00%	-1.03M	0.00%

Q1 2025(7 moves)

Portfolio manager	Activity	Share change	% portfolio
Andreas HalvorsenElite Viking Global Investors	Add 12.00%	+237K	3.60%
Joel GreenblattElite Gotham Asset Management	Add 252%	+561K	0.40%
David RolfeTier 1 Wedgewood Partners	Reduce 81.00%	-45K	0.70%
François RochonTier 1 Giverny Capital	Sell (exit)	-2K	0.00%
Polen CapitalElite Polen Capital Management	Reduce 8.00%	-88K	1.70%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Reduce 7.00%	-51K	0.30%
Bill Nygren Oakmark Funds	Sell (exit)	-436	0.00%

Q4 2024(8 moves)

Portfolio manager	Activity	Share change	% portfolio
François RochonTier 1 Giverny Capital	Buy (new)	+2K	0.00%
Andreas HalvorsenElite Viking Global Investors	Buy (new)	+1.90M	3.10%
Stephen MandelTier 1 Lone Pine Capital	Sell (exit)	-822K	0.00%
Chase ColemanElite Tiger Global Management	Reduce 81.00%	-1.93M	0.80%
Joel GreenblattElite Gotham Asset Management	Reduce 7.00%	-16K	0.10%
Polen CapitalElite Polen Capital Management	Reduce 44.00%	-871K	1.50%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Reduce 12.00%	-108K	0.30%
Bill Nygren Oakmark Funds	Reduce 10.00%	-50	0.00%

Q3 2024(7 moves)

Portfolio manager	Activity	Share change	% portfolio
Bill Nygren Oakmark Funds	Add 16.00%	+66	0.00%
David TepperTier 1 Appaloosa Management	Reduce 6.00%	-11K	1.50%
Stephen MandelTier 1 Lone Pine Capital	Reduce 13.00%	-122K	3.60%
Andreas HalvorsenElite Viking Global Investors	Sell (exit)	-442K	0.00%
Joel GreenblattElite Gotham Asset Management	Reduce 13.00%	-37K	0.20%
Polen CapitalElite Polen Capital Management	Reduce 11.00%	-253K	3.00%
Glenn Greenberg Brave Warrior Advisors	Reduce 18.00%	-111	0.00%

Q2 2024(8 moves)

Portfolio manager	Activity	Share change	% portfolio
Stephen MandelTier 1 Lone Pine Capital	Buy (new)	+944K	3.90%
Chase ColemanElite Tiger Global Management	Buy (new)	+2.35M	5.50%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Add 1125%	+821K	0.40%
David TepperTier 1 Appaloosa Management	Reduce 7.00%	-15K	1.50%
Andreas HalvorsenElite Viking Global Investors	Reduce 68.00%	-919K	0.90%
Joel GreenblattElite Gotham Asset Management	Reduce 22.00%	-76K	0.20%
Polen CapitalElite Polen Capital Management	Reduce 6.00%	-145K	2.90%
Bill Nygren Oakmark Funds	Reduce 67.00%	-860	0.00%

Insider activity

What the company's own executives and directors are doing — buys are highly bullish.

Latest news

Recent headlines for UNH — context for the moves above.

Who’s betting biggest on UNH

Healthcare sector →

Each bar is one manager’s position size in UNH as a % of their portfolio. Longer bar = bigger conviction bet. T1 badge marks the highest-quality track records.

Andreas Halvorsen

4.1%

“Healthcare scale.”

Joel Greenblatt

2.5%

“Healthcare scale + Optum.”

AI thesis

An AI-synthesised investment thesis for UNH, based on the 13F data above. Generated on demand — not stored or pre-computed.

AI thesis

Claude Haiku synthesis of SELL positioning from 2 institutional filers

Generate a 2-paragraph investment thesis synthesising 2 institutional holdings and the -4 conviction score.

Related smart-money signals

Derived from the same 13F filings

Same sector · Healthcare

Top conviction in this sector

All Healthcare names →

Same owners hold these

Tickers owned by ≥2 of UNH's holders

Full overlap matrix →

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The HoldLens signal dossier shows the unified −100..+100 ConvictionScore alongside live prices, multi-quarter trend detection, insider activity, and real-time news. Not investment advice. Methodology.