# UnitedHealth Group (UNH): value investors who own it

13 value investors held UnitedHealth Group in their Q3 2026 13F, led by Ruane, Cunniff & Goldfarb (Sequoia), Smead Capital Management, Davis Selected…

## 13F holders

| Manager | Portfolio | Value | Change | Quarters held |
| --- | --- | --- | --- | --- |
| Ruane, Cunniff & Goldfarb (Sequoia) | 4.6% | $293m | Trimmed -3.1% | 27 |
| Smead Capital Management | 2.5% | $119m | Trimmed -1.2% | 6 |
| Davis Selected Advisers | 2.3% | $530m | Added +2.2% | 53 |
| Mairs & Power | 2.1% | $233m | Trimmed -24% | 53 |
| Dodge & Cox | 2.0% | $3.8bn | Trimmed -4.2% | 53 |
| Yacktman Asset Management | 0.9% | $71.4m | Added +2.0% | 5 |
| H&H International (Duan Yongping) | 0.9% | $166m | Trimmed -34% | 2 |
| Vulcan Value Partners | 0.8% | $28.0m | Trimmed -93% | 7 |
| Tweedy, Browne | 0.1% | $1.7m | Added +12% | 5 |
| First Eagle Investment Management | 0.0% | $17.6m | Added +3.8% | 24 |
| Horizon Kinetics | 0.0% | $725k | Added +2.9% | 4 |
| Jensen Investment Management | 0.0% | $357k | Trimmed -42% | 53 |
| Appaloosa | 0.0% | $0k | Sold out | 37 |
| Brave Warrior Advisors | 0.0% | $207k | New | 1 |
| Markel Group | 0.0% | $0k | Sold out | 11 |

## Directors buying and selling (Form 4, last 12 months)

| Date | Who | Role | Bought or sold | Shares | Value |
| --- | --- | --- | --- | --- | --- |
| 2026-08-21 | Conway Patrick Hugh | Chief Executive Officer, Optum | Sold | 1169 | $456k |
| 2026-08-05 | Conway Patrick Hugh | Chief Executive Officer, Optum | Sold | 500 | $205k |

## Fund holders

| Fund | Manager | Weight | Value | As at |
| --- | --- | --- | --- | --- |
| Sequoia Fund | Ruane, Cunniff & Goldfarb (Sequoia) | 3.2% | $115m | 2026-06-30 |
| Smead Value Fund | Smead Capital Management | 2.7% | $104m | 2026-05-29 |
| Mairs & Power Growth Fund | Mairs & Power | 2.1% | $118m | 2026-06-30 |
| Davis Global Fund | Davis Selected Advisers | 1.7% | $15.9m | 2026-07-31 |
| Vulcan Value Partners Fund | Vulcan Value Partners | 1.6% | $3.7m | 2026-07-31 |
| Dodge & Cox Global Stock Fund | Dodge & Cox | 1.2% | $160m | 2026-06-30 |
| AMG Yacktman Fund | Yacktman Asset Management | 0.7% | $49.9m | 2026-06-30 |

Source: SEC filings, via moatshark (https://www.moatshark.com/s/unh). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.