High-profile stakes boost shares
Some of the world’s wealthiest investors joined Warren Buffett’s Berkshire Hathaway in buying shares of UnitedHealth Group during the second quarter. Regulatory filings show George Soros, a Swedish packaging dynasty’s family office, and Michael Platt’s BlueCrest Capital Management all increased their positions in the health insurer.
A rare bright spot amid turmoil
UnitedHealth has faced a turbulent period, including the fatal shooting of a top executive in December, a federal probe into Medicare billing practices, a reduced financial outlook in April, and the sudden resignation of its CEO in May. Still, value-focused investors such as David Tepper’s Appaloosa Management, which boosted its stake by 2.3 million shares, drove shares up 14% to $308.84. Berkshire’s stake alone is valued at about $1.6 billion.
Family offices lean into tech
Other large family offices expanded in technology. Soros and Kemnay Advisory Services, owned by the Parker family, increased Apple holdings. BlueCrest and Iconiq Capital, which manages wealth for Silicon Valley billionaires, added more Nvidia shares, while Iconiq opened a new position in Taiwan Semiconductor Manufacturing Co.
Other key 13F highlights
The Gates Foundation sold nearly 2.3 million Microsoft shares and bought 7 million Berkshire Hathaway shares, lifting its stake in Buffett’s firm to $11.7 billion. Iconiq took a 4.4% stake in Chime Financial, and Stanley Druckenmiller’s Duquesne Family Office exited 37 positions, including US Bancorp, Wells Fargo, and Citigroup.
