Berkshire Hathaway’s Secret Stock Purchase Boosts UnitedHealth Amid DOJ Scrutiny
UnitedHealth Group saw its shares surge 7% on Thursday after Berkshire Hathaway disclosed a significant stake in the embattled health insurer. The SEC filing revealed Berkshire acquired over 5 million shares during Q2, making UnitedHealth its 18th-largest holding in a $300 billion portfolio.
The timing proves strategic. UnitedHealth had lost nearly half its value this year amid a DOJ investigation into Medicare billing practices. CEO Andrew Witty's resignation and withdrawn guidance further rattled markets. While Warren Buffett's name tops Berkshire, deputies Todd Combs and Ted Weschler likely orchestrated the move—mirroring their 2019 Amazon play.