Group 1: UnitedHealth Group - UnitedHealth Group operates the largest private health insurer in the U.S. and a health services platform called Optum, which provides various healthcare services [2] - The company anticipates losing up to 2.8 million members due to increased rates in response to rising medical costs [2] - The stock recently dropped 20% following Q4 results, attributed to a rising medical care ratio (MCR) of 91.5%, the highest since last year's cost spike [3] - A proposed 0.09% increase for 2027 Medicare Advantage rates was below industry expectations, adding to uncertainty [3] - Despite challenges, the company maintains a safe 3.2% dividend, supported by $16 billion in free cash flow, funding the payout nearly twice over [4] - Management expects earnings per share (EPS) growth of around 8.5% this year, with the stock trading at 15.5 times next year's earnings target of $17.75 per share [4] Group 2: Ryman Hospitality Properties - Ryman Hospitality Properties is a REIT that owns large-scale convention resorts and iconic country music venues, including five of the seven largest non-gaming convention hotels in the U.S. [5] - In Q3, Ryman reported a 15.5% drop in adjusted funds from operations (AFFO) per unit due to planned renovations, a shift to lower-margin groups, and increased cancellations [7] - Bookings are up nearly 8% for the year, and the stock offers a 4.8% yield with a 57% payout ratio, producing nearly double the cash needed for its dividend [8] - Shares trade at just 12 times AFFO per unit expectations for fiscal year 2025, providing compelling exposure to the growing country music scene in Nashville [8] Group 3: ONEOK - ONEOK has transformed from a regional NGL business into a fully integrated platform through three major deals worth over $25 billion, creating a 60,000-mile network for transporting gas and crude [9] - Adjusted EBITDA increased by 37% year over year to $2.1 billion in Q3, driven by contributions from EnLink and Medallion assets, as well as higher processing volumes [10] - The stock is up nearly 15% over the past month, trading at just 11 times EBITDA with a yield of 5.1% [11] - Current spending on integration and pipeline repairs keeps free cash flow payout around 100%, but this is expected to improve as major projects complete this year [11]