Some of the world’s richest investors have followed Warren Buffett’s Berkshire Hathaway into UnitedHealth Group, adding to their positions in the troubled health insurer during the second quarter.
According to fresh 13F filings, George Soros’ family office, the investment vehicle of a Swedish packaging dynasty, and Michael Platt’s BlueCrest Capital all expanded their stakes in UnitedHealth. The moves provided a rare lift for the company, which has faced a difficult year after the fatal shooting of a senior executive, a federal probe into its Medicare billing, an earnings downgrade in April, and the sudden resignation of its CEO in May.
These challenges appear to have attracted contrarian investors such as hedge fund billionaire David Tepper, whose Appaloosa Management added 2.3 million shares, making UnitedHealth its second-largest holding. Shares surged 14% to $308.84 in New York trading, with Berkshire’s stake alone valued at roughly $1.6 billion.
Family offices also pushed deeper into tech during the same quarter. Soros and the Parker family’s Kemnay Advisory Services raised their Apple holdings, while Platt’s BlueCrest and Iconiq Capital – which manages money for several Silicon Valley billionaires – bought more Nvidia shares. Iconiq also initiated a new position in Taiwan Semiconductor.
Other notable shifts included the Bill & Melinda Gates Foundation selling 2.3 million Microsoft shares while boosting its Berkshire Hathaway stake to $11.7 billion, and Iconiq taking a 4.4% holding in fintech firm Chime. Meanwhile, Stanley Druckenmiller’s Duquesne Family Office exited 37 positions, including US Bancorp, Wells Fargo, and Citigroup.
These quarterly filings, required for money managers overseeing more than $100 million in US equities, offer a rare look at how hedge funds and family offices position themselves in turbulent markets.
