New and Increased Positions
First time back in UNH since 2010; stock jumped 6–7% in after-hours trading on the news.
Seen as a contrarian bargain move; possibly initiated by investment lieutenants Todd Combs or Ted Weschler.
Lennar (LEN) – Significantly increased stake; shares rose ~3% after filing.
Other smaller stakes – Lamar Advertising (outdoor advertising) and Allegion (security products).
Apple (AAPL) – Further reduced stake.
Context & Speculation
Berkshire’s equity portfolio value: ~US$300B.
Market Impact
UNH also attracted other notable buyers in Q2, including Michael Burry and David Tepper.
UNH trading at a P/E just under 12, near decade-long lows.
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