UNITEDHEALTH GROUP INC UNH
COM · Common Stock · CUSIP 91324P102 · ISIN US91324P1021
For-profit health care company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.0bn this quarter). Holder counts are more reliable. Shares outstanding: 907.1m as of 2025-04-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $523.49. Options: 68 managers hold calls ($6.0bn notional), 70 hold puts ($5.1bn).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 3,001 |
| Q4 2022 | 3,161 |
| Q1 2023 | 3,114 |
| Q2 2023 | 3,137 |
| Q3 2023 | 3,145 |
| Q4 2023 | 3,421 |
| Q1 2024 | 3,382 |
| Q2 2024 | 3,406 |
| Q3 2024 | 3,476 |
| Q4 2024 | 3,683 |
| Q1 2025 | 3,613 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 1,576 | 1,306 |
| Q3 2023 | 1,613 | 1,256 |
| Q4 2023 | 1,584 | 1,327 |
| Q1 2024 | 1,670 | 1,481 |
| Q2 2024 | 1,682 | 1,485 |
| Q3 2024 | 1,602 | 1,560 |
| Q4 2024 | 1,523 | 1,681 |
| Q1 2025 | 1,571 | 1,886 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $4.0bn | $3.9bn | 0.98 |
| Q3 2024 | $4.7bn | $5.0bn | 1.08 |
| Q4 2024 | $5.6bn | $5.3bn | 0.95 |
| Q1 2025 | $6.0bn | $5.1bn | 0.86 |
Biggest buyers
| VANGUARD GROUP INC | Added | +5.6m |
| Capital Research Global Investors | Added | +2.9m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +2.5m |
| BlackRock, Inc. | Added | +2.3m |
| JPMORGAN CHASE & CO | Added | +1.9m |
| Fisher Asset Management, LLC | Added | +1.8m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +1.4m |
| Capital World Investors | Added | +1.3m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +1.1m |
| Capital International Investors | Added | +1.0m |
Biggest sellers
| FMR LLC | Reduced | -5.9m |
| GQG Partners LLC | Sold out | -3.4m |
| T. Rowe Price Investment Management, Inc. | Reduced | -1.9m |
| MACKENZIE FINANCIAL CORP | Reduced | -1.5m |
| Amundi | Reduced | -1.4m |
| Orbis Allan Gray Ltd | Reduced | -1.2m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -1.2m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.1m |
| MARSHALL WACE, LLP | Reduced | -1.0m |
| TD Asset Management Inc | Reduced | -879.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.7bn3.2m shares |
| CITADEL ADVISORS LLC | Added | $1.0bn2.0m shares |
| JANE STREET GROUP, LLC | Reduced | $401.2m766.1k shares |
| IMC-Chicago, LLC | Reduced | $312.9m597.4k shares |
| SIMPLEX TRADING, LLC | Added | $308.6m616.3k shares |
| WOLVERINE TRADING, LLC | Added | $217.4m421.3k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $203.7m389.0k shares |
| CITIGROUP INC | Added | $187.7m358.3k shares |
| BlackRock, Inc. | New | $173.9m332.0k shares |
| GROUP ONE TRADING LLC | Reduced | $173.6m331.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.2bn2.2m shares |
| CITADEL ADVISORS LLC | Reduced | $530.9m1.0m shares |
| BNP PARIBAS FINANCIAL MARKETS | First filing | $406.1m7.8k shares |
| JANE STREET GROUP, LLC | Reduced | $400.0m763.8k shares |
| IMC-Chicago, LLC | Reduced | $267.2m510.1k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $225.6m430.7k shares |
| UBS Group AG | Reduced | $212.5m405.7k shares |
| WOLVERINE TRADING, LLC | Added | $171.8m332.9k shares |
| SIMPLEX TRADING, LLC | Added | $144.0m274.9k shares |
| Qube Research & Technologies Ltd | Added | $140.9m269.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
| STATE STREET CORP 13G · institution new · filed 2026-08-07 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 2 | $4.7m | — |
| Q3 2023 | 0 | — | 1 | $2.0m | — |
| Q4 2023 | 0 | — | 2 | $104.5m | — |
| Q1 2024 | 0 | — | 3 | $16.1m | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 2 | $2.5m | — |
| Q4 2024 | 0 | — | 1 | $439.0k | — |
| Q1 2025 | 1 | $511.6k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-01-17 | FLYNN TIMOTHY PATRICK Director · By Trust | Bought | $511.6k1.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.86% of their portfolio | 90.7m $47.5bn | Added +5.6m |
| BlackRock, Inc. 0.82% of their portfolio | 74.3m $38.9bn | Added +2.3m |
| STATE STREET CORP 0.98% of their portfolio | 45.3m $23.7bn | Reduced -254.4k |
| JPMORGAN CHASE & CO 1.05% of their portfolio | 26.3m $13.8bn | Added +1.9m |
| WELLINGTON MANAGEMENT GROUP LLP 2.60% of their portfolio | 25.8m $13.5bn | Added +2.5m |
| FMR LLC 0.81% of their portfolio | 24.2m $12.7bn | Reduced -5.9m |
| Capital World Investors 1.93% of their portfolio | 22.8m $11.9bn | Added +1.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ 1.38% of their portfolio | 21.4m $11.2bn | Reduced -8.6k |
| MORGAN STANLEY 0.80% of their portfolio | 21.4m $11.2bn | Reduced -31.5k |
| Capital Research Global Investors 2.37% of their portfolio | 20.8m $10.9bn | Added +2.9m |
| GEODE CAPITAL MANAGEMENT, LLC 0.85% of their portfolio | 20.6m $10.8bn | Added +680.9k |
| Capital International Investors 1.71% of their portfolio | 16.7m $8.7bn | Added +1.0m |
| NORGES BANK 0.93% of their portfolio | 12.6m $6.6bn | Reduced -14.6k |
| NORTHERN TRUST CORP 0.73% of their portfolio | 9.3m $4.9bn | Reduced -171.1k |
| FRANKLIN RESOURCES INC 1.34% of their portfolio | 8.8m $4.6bn | Reduced -74.5k |
| ROYAL BANK OF CANADA 1.01% of their portfolio | 8.6m $4.5bn | Added +497.5k |
| BANK OF AMERICA CORP /DE/ 0.40% of their portfolio | 8.6m $4.5bn | Added +797.7k |
| Bank of New York Mellon Corp 0.84% of their portfolio | 8.1m $4.3bn | Added +196.7k |
| ALLIANCEBERNSTEIN L.P. 1.42% of their portfolio | 7.5m $3.9bn | Reduced -23.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 1.00% of their portfolio | 7.4m $3.9bn | Reduced -1.2m |
| Nuveen, LLC 1.17% of their portfolio | 7.3m $3.8bn | First filing |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.69% of their portfolio | 7.1m $3.7bn | Added +840.8k |
| WELLS FARGO & COMPANY/MN 0.81% of their portfolio | 6.4m $3.4bn | Reduced -363.9k |
| Invesco Ltd. 0.59% of their portfolio | 6.0m $3.1bn | Reduced -43.4k |
| Legal & General Group Plc 0.85% of their portfolio | 6.0m $3.1bn | Reduced -53.2k |
| GOLDMAN SACHS GROUP INC 0.58% of their portfolio | 5.8m $3.1bn | Reduced -1.1m |
| UBS Group AG 0.64% of their portfolio | 5.5m $2.9bn | Added +358.4k |
| DEUTSCHE BANK AG\ 1.12% of their portfolio | 5.4m $2.8bn | Added +103.2k |
| Fisher Asset Management, LLC 1.19% of their portfolio | 5.3m $2.7bn | Added +1.8m |
| Sanders Capital, LLC 4.08% of their portfolio | 5.2m $2.7bn | Reduced -41.1k |
| DIMENSIONAL FUND ADVISORS LP 0.68% of their portfolio | 5.2m $2.7bn | Added +839.0k |
| JANUS HENDERSON GROUP PLC 1.41% of their portfolio | 5.0m $2.6bn | Reduced -527.1k |
| Amundi 0.91% of their portfolio | 4.6m $2.5bn | Reduced -1.4m |
| BARCLAYS PLC 1.01% of their portfolio | 4.3m $2.2bn | Added +349.0k |
| Clearbridge Investments, LLC 1.87% of their portfolio | 4.1m $2.1bn | Reduced -251.1k |
| Dodge & Cox 1.20% of their portfolio | 4.0m $2.1bn | Reduced -72.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 2.04% of their portfolio | 4.0m $2.1bn | Reduced -313.4k |
| AMERIPRISE FINANCIAL INC 0.55% of their portfolio | 3.9m $2.0bn | Reduced -781.7k |
| RAYMOND JAMES FINANCIAL INC 0.72% of their portfolio | 3.7m $1.9bn | Reduced -113.6k |
| Mitsubishi UFJ Asset Management Co., Ltd. 1.48% of their portfolio | 3.1m $1.6bn | Added +319.6k |
| T. Rowe Price Investment Management, Inc. 1.00% of their portfolio | 2.9m $1.5bn | Reduced -1.9m |
| EAGLE CAPITAL MANAGEMENT LLC 5.15% of their portfolio | 2.7m $1.4bn | Added +398.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.97% of their portfolio | 2.6m $1.4bn | Reduced -4.5k |
| Swiss National Bank 0.96% of their portfolio | 2.6m $1.4bn | Reduced -13.1k |
| California Public Employees Retirement System 0.93% of their portfolio | 2.5m $1.3bn | Reduced -40.7k |
| HSBC HOLDINGS PLC 0.88% of their portfolio | 2.5m $1.3bn | Added +50.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.66% of their portfolio | 2.3m $1.2bn | Added +1.4m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.96% of their portfolio | 2.3m $1.2bn | Added +1.1m |
| ENVESTNET ASSET MANAGEMENT INC 0.38% of their portfolio | 2.2m $1.2bn | Added +100.0k |
| Grantham, Mayo, Van Otterloo & Co. LLC 3.67% of their portfolio | 2.2m $1.2bn | Added +153.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 1.09% of their portfolio | 2.2m $1.1bn | Added +52.1k |
| CITIGROUP INC 0.86% of their portfolio | 2.2m $1.1bn | Added +987.6k |
| VIKING GLOBAL INVESTORS LP 3.56% of their portfolio | 2.1m $1.1bn | Added +237.3k |
| BANK OF MONTREAL /CAN/ 0.60% of their portfolio | 2.1m $1.1bn | Reduced -73.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.84% of their portfolio | 2.1m $1.1bn | First filing |
| Mawer Investment Management Ltd. 5.25% of their portfolio | 2.1m $1.1bn | Reduced -56.4k |
| Boston Partners 1.28% of their portfolio | 2.0m $1.1bn | Added +434.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.55% of their portfolio | 1.9m $982.5m | Reduced -76.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.97% of their portfolio | 1.8m $962.6m | Reduced -165.9k |
| National Pension Service 0.92% of their portfolio | 1.8m $958.5m | Added +98.2k |
| AMERICAN CENTURY COMPANIES INC 0.56% of their portfolio | 1.7m $912.9m | Added +128.3k |
| BESSEMER GROUP INC 1.61% of their portfolio | 1.7m $899.3m | Reduced -290.5k |
| NATIONAL BANK OF CANADA /FI/ 1.01% of their portfolio | 1.6m $859.5m | Added +950.9k |
| Sustainable Growth Advisers, LP 4.79% of their portfolio | 1.6m $857.9m | Reduced -20.6k |
| STIFEL FINANCIAL CORP 0.90% of their portfolio | 1.6m $842.0m | Reduced -43.8k |
| RHUMBLINE ADVISERS 0.78% of their portfolio | 1.6m $832.0m | Reduced -10.7k |
| Veritas Asset Management LLP 8.35% of their portfolio | 1.6m $827.0m | Added +31.8k |
| Ensign Peak Advisors, Inc 1.51% of their portfolio | 1.5m $789.1m | Added +140.2k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 4.23% of their portfolio | 1.5m $784.5m | Added +35.4k |
| Allianz Asset Management GmbH 1.12% of their portfolio | 1.4m $758.2m | Reduced -281.7k |
| CIBC Private Wealth Group LLC 1.68% of their portfolio | 1.4m $793.9m | Reduced -3.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.92% of their portfolio | 1.4m $747.6m | Reduced -10.9k |
| TD Asset Management Inc 0.64% of their portfolio | 1.3m $698.6m | Reduced -879.4k |
| Fiera Capital Corp 2.52% of their portfolio | 1.3m $698.5m | Reduced -279.2k |
| ROYAL LONDON ASSET MANAGEMENT LTD 1.65% of their portfolio | 1.3m $696.6m | Added +24.4k |
| Pictet Asset Management Holding SA 0.74% of their portfolio | 1.3m $669.8m | Added +238.0k |
| MACQUARIE GROUP LTD 0.82% of their portfolio | 1.3m $661.1m | Added +100.5k |
| LAZARD ASSET MANAGEMENT LLC 1.01% of their portfolio | 1.3m $659.8m | Reduced -604.8k |
| FIL Ltd 0.62% of their portfolio | 1.2m $652.6m | Reduced -133.2k |
| 1832 Asset Management L.P. 1.23% of their portfolio | 1.2m $643.3m | Reduced -7.7k |
| SG Americas Securities, LLC 2.18% of their portfolio | 1.2m $641.0m | Added +599.6k |
| Russell Investments Group, Ltd. 0.88% of their portfolio | 1.2m $639.2m | Reduced -21.5k |
| WCM INVESTMENT MANAGEMENT, LLC 1.61% of their portfolio | 1.2m $627.6m | Added +4.9k |
| PNC Financial Services Group, Inc. 0.33% of their portfolio | 1.2m $629.5m | Reduced -8.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.91% of their portfolio | 1.2m $621.7m | Reduced -48.8k |
| Aberdeen Group plc 1.20% of their portfolio | 1.2m $616.9m | Added +81.3k |
| Fayez Sarofim & Co 1.53% of their portfolio | 1.2m $613.4m | Reduced -378.9k |
| FIRST MANHATTAN CO. LLC. 1.75% of their portfolio | 1.1m $599.9m | Reduced -377.5k |
| PineStone Asset Management Inc. 4.44% of their portfolio | 1.1m $588.2m | Added +257.2k |
| Corient Private Wealth LP 0.96% of their portfolio | 1.1m $585.0m | Reduced -33.7k |
| CANADA LIFE ASSURANCE Co 1.03% of their portfolio | 1.1m $582.3m | Added +30.2k |
| US BANCORP \DE\ 0.77% of their portfolio | 1.1m $573.4m | Reduced -24.6k |
| Assenagon Asset Management S.A. 1.01% of their portfolio | 1.1m $564.8m | Added +375.8k |
| LPL Financial LLC 0.21% of their portfolio | 1.0m $549.8m | Added +63.9k |
| POLEN CAPITAL MANAGEMENT LLC 1.71% of their portfolio | 1.0m $543.4m | Reduced -88.0k |
| Allen Investment Management, LLC 6.30% of their portfolio | 1.0m $540.0m | Added +64.4k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.95% of their portfolio | 1.0m $537.9m | Added +310.4k |
| MILLENNIUM MANAGEMENT LLC 0.51% of their portfolio | 1.0m $529.1m | Reduced -120.5k |
| Caisse de depot et placement du Quebec 1.10% of their portfolio | 1.0m $523.8m | Added +55.6k |
| AVIVA PLC 1.24% of their portfolio | 978.9k $512.7m | Added +86.5k |