Warren Buffett’s Berkshire Hathaway reveals new stake in beleaguered insurer UnitedHealth

Investment Moves - Berkshire Hathaway revealed a sizable stake in United Healthcare [1] - Berkshire Hathaway held approximately $1.57 billion worth of United Healthcare stock as of the end of Q2 [3] - Appaloosa added 2.3 million shares of United Health, holding $764 million worth, making it the firm's largest single stock position [4] - Michael Barry's Scion also bought over $100 million notional exposure to United Health [4] - Viking Global sold out of a $1 billion stake in United Health [5] - Berkshire Hathaway took new stakes in steelmaker Newor and homebuilder Dr Horton, and bought a new class of shares in its peer Lenar [5] Market Reaction - The disclosure of Berkshire Hathaway's stake sent United Health soaring in after-hours trading, up about 13% the following morning [2] - United Healthcare stock had previously run up to $600 a share [7] - United Healthcare stock was available at a discount, potentially around a 50% discount, below $300 [8] - United Healthcare's stock price is currently around $305 to $306, up $34 [8] Company Specifics - United Health has faced challenges, including financial news and an incident involving a top management member [10]