知名对冲基金经理David Tepper在二季度再次展现其逆向投资风格，大举增持深陷困境的联合健康集团，同时 削减中概股持仓。 8月14日，据13F文件显示，Tepper旗下Appaloosa Management将 联合健康持仓增加230万股，持股价值达 7.64亿美元 。 最新披露显示， 联合健康 目前占Appaloosa 64.5亿美元股票投资组合的11.9%，成为该基金 仅次于阿里巴巴的 第二大持仓 。巧合的是，巴菲特也在同期建仓联合健康。 Tepper二季度大举增持深陷困境的联合健康230万股至7.64亿美元，成为第二大持仓，大幅减持阿里、京东、拼 多多等中概股，阿里巴巴减持超20%但仍以8.02亿美元保持头号重仓。此外还大幅增持英伟达483%、台积电 279.6%，减持Meta、谷歌等科技股。 Tepper此次大举增持联合健康展现了其典型的逆向投资策略。 二季度期间，联合健康股价暴跌约40%，成为标普500指数表现最差的个股之一。该公司面临多重危机，包括暂 停年度业绩指引、更换首席执行官，以及据报道面临医疗保险欺诈的刑事调查。 联合健康在7月表示正在配合司法部调查，并对其业务操作"充满信心"。正是 ...

Core Viewpoint - Berkshire Hathaway has continued its trend of net stock selling for the 11th consecutive quarter, with a reported long position in U.S. stocks amounting to $257.5 billion as of the end of Q2 2025 [2] Group 1: Berkshire Hathaway's Investment Actions - In Q2, Berkshire Hathaway restarted selling Apple shares, continued to reduce its stake in Bank of America, and increased its holdings in Chevron and the food and beverage sector [2] - Six new positions were established, including significant investments in UnitedHealth, Nucor Steel, Lennar, and Lamar Advertising, with a total market value of approximately $3.65 billion at the end of the quarter [2][5] Group 2: UnitedHealth's Performance and Market Reaction - UnitedHealth reported Q2 revenue of $111.6 billion, a year-on-year increase of 13%, but adjusted net profit fell over 23.7% to $3.406 billion, leading to a decline in stock price [6] - Following Berkshire's announcement of re-establishing a position in UnitedHealth, the stock price surged over 8% in after-hours trading [5][6] Group 3: Market Sentiment and Future Outlook - Analysts suggest that Berkshire's renewed investment in UnitedHealth may be due to its stock price reaching a multi-year low, with a current P/E ratio of 11.55, indicating potential for long-term returns [7] - Despite the challenges, if profit margins improve, the stock could return to a fair value of around $360, with conservative estimates placing the target price above $300 [7]

智通财经APP获悉，对冲基金近日陆续发布第二季度13F持仓报告，其中不少机构增持了微软 (MSFT.US)、奈飞(NFLX.US)等科技巨头。期间，尽管特朗普的贸易政策曾一度引发市场波动，但最终 主要指数仍录得显著涨幅。彭博对13F文件数据的分析显示，截至6月30日的三个月内，对冲基金持有 的微软股票市值增长120亿美元，至470亿美元，为持仓总市值最高，这一增长源于净买入操作及公司股 价的飙升。 亿万富翁投资者沃伦·巴菲特与David Tepper在该股Q2大跌近40%期间抄底。巴菲特旗下伯克希尔·哈撒 韦Q2增持504万股联合健康集团股份，价值15.7亿美元。"华尔街抄底王"David Tepper大举加仓该股，占 投资组合比例为11.85%，较上季度持仓数量激增1300.00%。 《大空头》原型、全球知名对冲基金经理迈克尔·巴里(Michael Burry)所管理的旗下Scion资产管理公司 也披露了对这家保险公司的持仓。在前十大重仓股中，联合健康看涨期权(UNH.US,CALL)位列第一， 也是该基金二季度新建仓的资产，市值达1.9亿美元。除此之外，该公司还买入了600万美元的联合健康 的个股。 在人 ...

Core Viewpoint - Despite facing significant challenges, UnitedHealth Group has attracted investments from prominent figures like Warren Buffett, indicating a potential recovery and trust in the company's long-term prospects [1][3][5]. Group 1: Investment Activity - Berkshire Hathaway acquired 5.04 million shares of UnitedHealth Group in Q2, with a market value of approximately $1.57 billion, marking its return to the health insurance sector after 14 years [1][2]. - David Tepper's Appaloosa Fund increased its holdings by 2.3 million shares, valued at $760 million, making it the second-largest position after Alibaba [1][2]. - Renaissance Technologies and Dodge & Cox also increased their stakes, with Renaissance adding 1.35 million shares and Dodge & Cox adding 4.73 million shares [1][2]. Group 2: Company Challenges - UnitedHealth is experiencing its worst year since the 2008 financial crisis, having suspended its annual performance guidance and replaced its CEO amid a criminal investigation by the U.S. Department of Justice [2][5]. - The company's stock has dropped nearly 45% this year, making it one of the worst performers in the S&P 500 [3][5]. - The DOJ is investigating UnitedHealth's billing practices in its Medicare Advantage plans, raising concerns about potential overbilling [5][6]. Group 3: Financial Performance - In 2024, UnitedHealth reported revenues of $400.3 billion and a net profit exceeding $14.4 billion, demonstrating strong profitability [6][7]. - The company's stock has historically been viewed as a "safe and stable" dividend growth stock, with a significant increase in value over the past 20 years despite recent declines [7]. - The current price-to-earnings ratio of 12 indicates a notable attractiveness in valuation, as the stock has returned to 2020 levels [7].

Warren Buffett’s Berkshire Hathaway revealed a position in embattled healthcare giant UnitedHealth Group while showing smaller stakes in longtime holdings Apple and Bank of America, according to a regulatory filing Thursday. https://t.co/GqZKI9WRyg ...

该公司今年二季度新建仓位，买入联合健康集团（UnitedHealth Group）504万股股票，按6月底市值约15.7亿美元。这是 伯克希尔自2010年退出后，时隔14年再次进入医疗保险板块。 受消息推动，联合健康股价在盘后交易中一度上涨超10%。二季度期间，联合健康股价暴跌约40%，成为标普500指数 表现最差的个股之一。该公司面临多重危机，包括暂停年度业绩指引、更换首席执行官，以及据报道面临医疗保险欺诈 的刑事调查。联合健康在7月表示正在配合司法部调查，并对其业务操作"充满信心"。 北京时间周五清晨，"股神"巴菲特领导的伯克希尔哈撒韦公布二季度节点13F表。 13F报告显示，伯克希尔哈撒韦二季度减持苹果、美国银行、DaVita、特许通讯。 新进（建仓做多）联合健康、纽柯钢铁、地产股Lennar A类股+霍顿房屋（DHI）、户外广告公司Lamar Advertising Company。增持Pool、Heico、Lennar B类股、达美乐披萨、饮料公司Constellation Brands（STZ，星座品牌）。清仓电 信运营商T-Mobile。 具体来看，二季度，伯克希尔出售了2000万股苹果股票，将 ...

Core Insights - The data breach at UnitedHealth Group's tech unit, Change Healthcare, affected approximately 192.7 million individuals, making it the largest data breach in the U.S. healthcare industry to date [1][3][4] Group 1: Data Breach Details - The initial estimate of individuals impacted was 190 million, which was later revised to 192.7 million [2] - The breach was caused by the "Blackcat" ransomware group, leading to significant disruptions in claims processing across the nation [3] - Vulnerable information included health insurance member IDs, patient diagnoses, treatment information, social security numbers, and billing codes [4] Group 2: Financial Impact - Following the breach, Change Healthcare had to process $14 billion in backlogged healthcare claims after a month of service restoration efforts [4] - The cyberattack was noted to potentially reduce UnitedHealth Group's profit by $1.6 billion in 2024 [6] Group 3: Security Vulnerabilities - The hackers accessed the system through a Citrix portal that lacked multi-factor authentication, allowing them to move laterally within the systems [5][6] - The breach was disclosed in February, with the attack occurring on February 12, when compromised credentials were used for remote access [5]

Investment Actions - Berkshire Hathaway sold some Apple shares [1] - Berkshire Hathaway bought United Health shares [1] Company Comparison - The report questions which company, Apple or United Health, is more admirable [1]

Core Insights - David Tepper's Appaloosa LP significantly increased its stake in UnitedHealth (UNH.US) during Q2, showcasing a contrarian investment strategy [1][2] - The total market value of Appaloosa LP's holdings decreased to $6.45 billion from $8.38 billion, a 23% decline quarter-over-quarter [1] - Alibaba (BABA.US) remains the largest holding, with approximately 7.07 million shares valued at about $800 million, representing 12.43% of the portfolio, down 23.43% from the previous quarter [1][2] Holdings Overview - UnitedHealth (UNH.US) is the second-largest holding, with around 2.45 million shares valued at approximately $764 million, a 1300% increase in holdings compared to the previous quarter [2] - Amazon (AMZN.US) ranks third, holding about 2.7 million shares valued at approximately $592 million, a 7.57% increase from the last quarter [2] - Vistra Energy (VST.US) is the fourth-largest holding, with around 1.8 million shares valued at approximately $349 million, a 21.74% decrease from the previous quarter [2] - NRG Energy (NRG.US) is the fifth-largest holding, with about 1.98 million shares valued at approximately $318 million, a 3.41% decrease from the last quarter [3] New Positions and Exits - Appaloosa LP established new positions in Intel (INTC.US), Raytheon Technologies (RTX.US), United Airlines (UAL.US), and Delta Air Lines (DAL.US) during Q2 [3] - The firm exited positions in Apple put options (AAPL.US, PUT), Broadcom (AVGO.US), and Las Vegas Sands (LVS.US) [3] Top Buy and Sell Changes - The top five new buys included UnitedHealth, Nvidia (NVDA.US), Amazon, TSMC (TSM.US), and Intel [3] - The top five sells included SPDR S&P 500 Fossil put options (SPYX.US, PUT), Apple put options, Alibaba, and the China large-cap ETF (FXI.US) [3]

知名对冲基金经理David Tepper在二季度再次展现其逆向投资风格，大举增持深陷困境的联合健康集团，同时削减中概股持仓。 8月14日，据13F文件显示，Tepper旗下Appaloosa Management将联合健康持仓增加230万股，持股价值达7.64亿美元。 最新披露显示，联合健康目前占Appaloosa 64.5亿美元股票投资组合的11.9%，成为该基金仅次于阿里巴巴的第二大持仓。巧合的是，巴菲特也在 同期建仓联合健康。 与此同时，Tepper显著减持了包括阿里巴巴、京东和拼多多在内的中概股持仓。尽管减持超过20%，阿里巴巴仍以约8.02亿美元的持股价值保持 Appaloosa第一大重仓股地位。 | T Filter | Columns | Export 0 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Stock = | Company Name = | % of Portfolio ▼ | Shares Owned | Value Owned = | Latest Activity = | Own ...