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UnitedHealth
UNH

3,177 hedge funds and large institutions have $242B invested in UnitedHealth in 2025 Q2 according to their latest regulatory filings, with 277 funds opening new positions, 1,289 increasing their positions, 1,433 reducing their positions, and 654 closing their positions.

New
Increased
Maintained
Reduced
Closed

26% more call options, than puts

Call options by funds: $15.3B | Put options by funds: $12.1B

3.46% less ownership

Funds ownership: 88.76% → 85.3% (-3.5%)

10% less repeat investments, than reductions

Existing positions increased: 1,289 | Existing positions reduced: 1,433

12% less funds holding

Funds holding: 3,602 → 3,177 (-425)

43% less capital invested

Capital invested by funds: $425B → $242B (-$184B)

58% less first-time investments, than exits

New positions opened: 277 | Existing positions closed: 654

68% less funds holding in top 10

Funds holding in top 10: 226 → 73 (-153)

Holders
3,177
Holders Change
-425
Holders Change %
-11.8%
% of All Funds
41.83%
Holding in Top 10
73
Holding in Top 10 Change
-153
Holding in Top 10 Change %
-67.7%
% of All Funds
0.96%
New
277
Increased
1,289
Reduced
1,433
Closed
654
Calls
$15.3B
Puts
$12.1B
Net Calls
+$3.18B
Net Calls Change
+$2.32B

Top Buyers

Rank Fund Capital Flow
1
Berkshire Hathaway
Berkshire Hathaway
Nebraska
+$1.93B
2
Dodge & Cox
Dodge & Cox
California
+$1.81B
3
HSBC Holdings
HSBC Holdings
United Kingdom
+$1.04B
4
Eagle Capital Management (New York)
Eagle Capital Management (New York)
New York
+$1.02B
5
AL
Appaloosa LP
New Jersey
+$869M

Top Sellers

Rank Fund Capital Flow
1
Capital Research Global Investors
Capital Research Global Investors
California
-$5.76B
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$2.83B
3
JP Morgan Chase
JP Morgan Chase
New York
-$2.41B
4
Morgan Stanley
Morgan Stanley
New York
-$2.39B
5
Capital World Investors
Capital World Investors
California
-$1.7B
Name Holding Trade Value Shares
Change 		Change in
Stake
Dimensional Fund Advisors
26
Dimensional Fund Advisors
Texas
$1.72B +$122M +320,014 +6%
Eagle Capital Management (New York)
27
Eagle Capital Management (New York)
New York
$1.68B +$1.02B +2,673,994 +99%
HSBC Holdings
28
HSBC Holdings
United Kingdom
$1.63B +$1.04B +2,729,246 +109%
Fisher Asset Management
29
Fisher Asset Management
Washington
$1.63B -$14.2M -37,108 -0.7%
N
30
Nuveen
North Carolina
$1.59B -$856M -2,240,042 -30%
Berkshire Hathaway
31
Berkshire Hathaway
Nebraska
$1.57B +$1.93B +5,039,564 New
Janus Henderson Group
32
Janus Henderson Group
United Kingdom
$1.53B -$31.8M -83,131 -2%
Franklin Resources
33
Franklin Resources
California
$1.52B -$1.52B -3,971,789 -45%
Barclays
34
Barclays
United Kingdom
$1.39B +$76.4M +199,877 +5%
UBS Group
35
UBS Group
Switzerland
$1.37B -$416M -1,089,486 -20%
Wells Fargo
36
Wells Fargo
California
$1.36B -$795M -2,079,186 -32%
Invesco
37
Invesco
Georgia
$1.3B -$701M -1,833,037 -31%
Raymond James Financial
38
Raymond James Financial
Florida
$1.1B -$56.7M -148,319 -4%
ClearBridge Investments
39
ClearBridge Investments
New York
$1.08B -$237M -619,905 -15%
Deutsche Bank
40
Deutsche Bank
Germany
$1.03B -$791M -2,069,214 -38%
National Bank of Canada
41
National Bank of Canada
Quebec, Canada
$1.02B +$618M +1,617,071 +99%
Ameriprise
42
Ameriprise
Minnesota
$999M -$265M -694,354 -18%
BNP Paribas Financial Markets
43
BNP Paribas Financial Markets
France
$985M +$407M +1,065,772 +51%
VAM
44
Veritas Asset Management
United Kingdom
$970M +$584M +1,528,984 +97%
Arrowstreet Capital
45
Arrowstreet Capital
Massachusetts
$905M +$247M +646,373 +29%
Sumitomo Mitsui Trust Group
46
Sumitomo Mitsui Trust Group
Japan
$891M +$92M +240,664 +9%
Swiss National Bank
47
Swiss National Bank
Switzerland
$864M +$66.3M +173,500 +7%
AL
48
Appaloosa LP
New Jersey
$764M +$869M +2,275,000 +1,300%
T. Rowe Price Investment Management
49
T. Rowe Price Investment Management
Maryland
$700M -$242M -632,213 -22%
California Public Employees Retirement System
50
California Public Employees Retirement System
California
$675M -$143M -373,367 -15%
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UNH Hedge Fund Activity: Q2 2025 in Review

3,177 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in UnitedHealth (UNH) for Q2 2025, worth a combined $242B — down 43% from $425B a quarter earlier.

Sellers outnumbered buyers: 654 funds closed out of UNH and 277 opened new positions — a net loss of 377 holders — while 1,433 trimmed existing stakes and 1,289 added.

The largest buyer was Berkshire Hathaway, opening a new position worth an estimated $1.93B. The largest seller was Capital Research Global Investors, cutting an estimated $5.76B.

  • 3,177 institutional investors held UnitedHealth (UNH) as of Q2 2025, down from 3,602 in Q1 2025.
  • Funds reported $242B of UnitedHealth stock for Q2 2025, down 43% quarter-over-quarter.
  • 277 funds opened new UnitedHealth positions in Q2 2025 and 654 closed out, a net change of -377 holders.
  • The largest UnitedHealth buyer in Q2 2025 was Berkshire Hathaway, an estimated $1.93B added.
  • The largest UnitedHealth seller in Q2 2025 was Capital Research Global Investors, an estimated $5.76B sold.

Based on aggregated 13F filings for Q2 2025.