UnitedHealth Stock Jumps over 3% Premarket After a 12% Rally Last Friday

UnitedHealth stock jumped over 3% in premarket trading after a 12% rally last Friday, following regulatory filings that showed Warren Buffett’s Berkshire Hathaway and Michael Burry’s Scion Asset Management each made large new investments in the health insurer during the second quarter.

Berkshire purchased more than 5 million shares at an eatimated average price of $411 as of June 30, as shown in the filing. 

Meanwhile, Burry’s Scion Asset Management disclosed a combination of call options tied to 350,000 UnitedHealth shares and a direct holding of roughly 20,000 shares valued at around $6 million. 

Known as the “Big Short” investor for his prescient bet against the U.S. housing market before the 2008 crash, Burry has typically taken a bearish stance in recent years. 

His UnitedHealth position stands out for both its timing and structure, targeting upside in a stock that has declined nearly 46% so far this year. The move comes as Medicare Advantage rates for 2026 have exceeded expectations and the insurer’s competitive positioning remains intact despite recent turbulence.

UnitedHealth’s rally was further underpinned by fresh disclosures of hedge fund buying. Dodge & Cox acquired 4.73 million shares, while David Tepper’s Appaloosa boosted its stake to 2.45 million shares from 180,000 in the first quarter, now worth approximately $764 million. Additionally, Renaissance Technologies purchased 1.35 million shares. 

Saudi Arabia’s Public Investment Fund also reported holding call options in the company.