Signal dossier · Q2 2026

UNH

UnitedHealth · Healthcare

Informational only — not investment advice. HoldLens tracks institutional positioning from public 13F filings. We are not a registered investment advisor and do not provide recommendations to buy or sell securities. Our 2026 backtest over 221 ticker-quarter pairs found the ConvictionScore has no predictive signal for forward returns (Pearson r = −0.12). The rankings describe what tracked superinvestors were accumulating or selling at the latest 13F snapshot — useful as market intelligence, not as personal investment advice. 13F data is reported with a 45-day SEC filing lag.

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ConvictionScore · single −100..+100 scale

Net selling

−24

3Q ACCUM

on a signed −100 sell scale · Slight selling

3 tracked managers selling. MODERATE selling pattern.

Unified ConvictionScore · −100..+100

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

−24

Buy component

+25

Dissent penalty

−49

Unanimity bonus

Quality differential

-3

Info density

Buyers / Sellers

2 / 3

ConvictionScore v5 · 9-layer breakdown

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

−24

Smart money (13F)

Insider activity (Form 4)

Track record (CAGR)

-2

Trend streak

Concentration

+10

Contrarian bonus

Event signal (8-K)

− Dissent penalty

−49

− Crowding penalty

−0

Owners: 2·Buyers: 17·Sellers: 31·Buyer-CAGR-weighted expected return: +11.5% ±2%·How this is computed

Why this score?

See the 9 factors that produced −24 for UNH

HoldLens's ConvictionScore is the sum of 9 factors clamped to −100/+100. Each factor has a known min/max range; the math is deterministic and reproducible. Every input traces to a public SEC filing. Full methodology →

Factor	Contribution	Range	What it measures
Smart money	+9	0 to +30	Sum of buyer manager quality × consensus (number of managers buying weighted by track record).
Insider activity	0	-15 to +20	Form 4 CEO/CFO/director discretionary buys (+) or sells (−) in last 90 days.
Track record	-2	-10 to +20	Buyer's 10-year compound annual return × position concentration. Pros placing big bets count more.
Trend streak	+8	0 to +10	Multi-quarter compounding — managers adding for 3+ consecutive quarters.
Concentration	+10	0 to +10	Biggest position size among buyers — proves conviction.
Contrarian bonus	0	0 to +10	Under-the-radar — fewer total managers know about it = more upside if right.
8-K events	0	-15 to +5	Material events filed last 90 days — Chapter 11 (−), CEO change, M&A, etc.
Dissent	+49	-40 to +0	Sellers subtract from the buy signal — weighted ×1.6 relative to buys.
Crowding	0	-10 to +0	Too many managers holding = price already reflects consensus = less upside.
Sum (clamped −100/+100)	−24	−100 to +100	(raw sum 74 clamped to score -24)

How to read: emerald = positive contribution to the buy signal; rose = penalty (sellers, crowded ownership, bearish 8-K events). Hover any factor name in the methodology page for the exact formula. Every number is computed at build time from EDGAR filings — no proprietary opinion layer, no editorial scoring. For UNH specifically: 17 buyers vs 31 sellers among the 30 tracked managers.

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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

'26 Q1

'26 Q2

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

Ownership breadth · 8 quarters

Breadth falling

-6 owners over 8Q

Q1 '24

Q2 '24

Q3 '24

Q4 '24

Q1 '25

Q2 '25

Q3 '25

Q4 '25

Q1 '26

Q2 '26

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

17 buys · 31 sells across tracked 13F filings

Net signal: Heavy selling

Q2 2026(5 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management	Add 80.00%	+780K	0.30%
Glenn Greenberg Brave Warrior Advisors	Buy (new)	+499	0.00%
David TepperTier 1 Appaloosa Management	Sell (exit)	-90K	0.00%
Chase ColemanElite Tiger Global Management	Reduce 15.00%	-53K	0.50%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Sell (exit)	-20K	0.00%

Q1 2026(8 moves)

Portfolio manager	Activity	Share change	% portfolio
Joel GreenblattElite Gotham Asset Management	Add 36.00%	+261K	0.10%
Warren BuffettTier 1 Berkshire Hathaway	Sell (exit)	-5.04M	0.00%
David TepperTier 1 Appaloosa Management	Reduce 55.00%	-110K	0.40%
Andreas HalvorsenElite Viking Global Investors	Sell (exit)	-1.20M	0.00%
Chase ColemanElite Tiger Global Management	Reduce 17.00%	-70K	0.40%
Polen CapitalElite Polen Capital Management	Sell (exit)	-1K	0.00%
Tom SlaterElite Baillie Gifford (Long Term Global Growth)	Reduce 48.00%	-19K	0.00%
Bill Nygren Oakmark Funds	Sell (exit)	-1K	0.00%

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)	-55K	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(6 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%
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%

Insider activity

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

Insider activity (Form 4)

15 buys · 0 sells from corporate insiders

Net: INSIDER BUYING

Insider	Action	Shares	Value	Date
Zaetta Christopher R EVP & Chief Legal Officer	buy	66.975	$0	Sep 22, 2026
Stankiewicz Dennis Andrew Chief Accounting Officer	buy	51.084	$0	Sep 22, 2026
Noseworthy John H Director	buy	46	$0	Sep 22, 2026
Noel Timothy John Chief Executive Officer, UHC	buy	83.94	$0	Sep 22, 2026
McSweeney Erin EVP & Chief People Officer	buy	53.225	$0	Sep 22, 2026
MONTGOMERY RICE VALERIE MD Director	buy	47	$0	Sep 22, 2026
MCNABB FREDERICK WILLIAM III Director	buy	57	$0	Sep 22, 2026
HEMSLEY STEPHEN J CEO, UHG	buy	50	$0	Sep 22, 2026
Gottlieb Scott Director	buy	5	$0	Sep 22, 2026
Gil Kristen Director	buy	10	$0	Sep 22, 2026
GARCIA PAUL R Director	buy	16	$0	Sep 22, 2026
FLYNN TIMOTHY PATRICK Director	buy	68	$0	Sep 22, 2026
DeVeydt Wayne S Chief Financial Officer	buy	106.233	$0	Sep 22, 2026
Conway Patrick Hugh Chief Executive Officer, Optum	buy	91.029	$0	Sep 22, 2026
Baker Charles D. Director	buy	15	$0	Sep 22, 2026

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 net selling positioning from 2 institutional filers

Generate a 2-paragraph investment thesis synthesising 2 institutional holdings and the -24 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.

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