Here’s What Happened to UnitedHealth (UNH)

Core Insights - Pelican Bay Capital Management (PBCM) reported a 7.8% return for its Concentrated Value Strategy in Q3 2025, outperforming the Russell 1000 Value Index which returned 5.3% during the same period [1]. - Year-to-date, PBCM's fund returned 11.2%, slightly below the index's 11.6% return [1]. Company Analysis - UnitedHealth Group Incorporated (NYSE:UNH) is highlighted as a significant holding in PBCM's portfolio, with a one-month return of -9.61% and a 52-week loss of 48.15% [2]. - As of November 7, 2025, UnitedHealth's stock closed at $324.21, with a market capitalization of $293.682 billion [2]. Industry Overview - The health insurance industry is experiencing significant pressure, with profitability in Medicaid and Medicare declining due to aggressive pricing from competitors and increased utilization of behavioral health services, GLP-1 drugs, and elective surgeries [3].