UnitedHealth Group Incorporated
US ˙ NYSE ˙ US91324P1021

SecurityUNH / UnitedHealth Group Incorporated
InstitutionShell Asset Management Co
Latest Disclosed Ownership14,761 shares
Latest Disclosed Value $ 5,097
Shell Asset Management Co reports 77.94% decrease in ownership of UNH / UnitedHealth Group Incorporated

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 14,761 shares of UnitedHealth Group Incorporated (US:UNH) valued at $5,096,973 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 66,912 shares of UnitedHealth Group Incorporated. This represents a change in shares of -77.94% during the quarter. The current value of the position is $5,896,577 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-11-07 2025-09-30 13F UNITEDHEALTH GROUP COM 91324P102 14,761 -52,151 -77.94 5 -75.00 0.5119
2025-07-23 2025-06-30 13F UNITEDHEALTH GROUP COM 91324P102 66,912 11,036 19.75 21 -31.03 0.7208
2025-05-14 2025-03-31 13F UNITEDHEALTH GROUP COM 91324P102 55,876 -12,276 -18.01 29 -14.71 1.3895
2025-02-14 2024-12-31 13F UNITEDHEALTH GROUP COM 91324P102 68,152 -375 -0.55 34 -15.00 1.5062
2024-11-07 2024-09-30 13F UNITEDHEALTH GROUP COM 91324P102 68,527 4,618 7.23 40 25.00 1.7635
2024-07-25 2024-03-31 13F UNITEDHEALTH GROUP COM 91324P102 63,909 -16,241 -20.26 33 -23.81 1.4819
2024-02-14 2023-12-31 13F UNITEDHEALTH GROUP COM 91324P102 80,150 -19,918 -19.90 42 -16.00 1.9489
2023-11-08 2023-09-30 13F UNITEDHEALTH GROUP COM 91324P102 100,068 4,826 5.07 50 11.11 2.0848
2023-07-28 2023-06-30 13F UNITEDHEALTH GROUP COM 91324P102 95,242 44,416 87.39 46 87.50 1.8055
2023-05-15 2023-03-31 13F UNITEDHEALTH GROUP COM 91324P102 50,826 -6,430 -11.23 24 -20.00 0.9968
2023-02-07 2022-12-31 13F UNITEDHEALTH GROUP COM 91324P102 57,256 -12,709 -18.16 30 -99.92 1.3296
2022-11-14 2022-09-30 13F UNITEDHEALTH GROUP COM 91324P102 69,965 -2,868 -3.94 35,335 -5.54 1.3771
2022-08-09 2022-06-30 13F UNITEDHEALTH GROUP COM 91324P102 72,833 10,568 16.97 37,409 17.81 1.1066
2022-05-04 2022-03-31 13F UNITEDHEALTH GROUP COM 91324P102 62,265 -4,771 -7.12 31,753 -5.67 0.7495
2022-02-09 2021-12-31 13F UNITEDHEALTH GROUP COM 91324P102 67,036 5,733 9.35 33,661 40.52 0.6906
2021-11-04 2021-09-30 13F UNITEDHEALTH GROUP COM 91324P102 61,303 1,526 2.55 23,954 0.07 0.5378
2021-08-12 2021-06-30 13F UNITEDHEALTH GROUP COM 91324P102 59,777 -23,995 -28.64 23,937 -23.20 0.4640
2021-05-10 2021-03-31 13F UNITEDHEALTH GROUP COM 91324P102 83,772 -16,859 -16.75 31,169 -11.68 0.6236
2021-02-16 2020-12-31 13F UNITEDHEALTH GROUP COM 91324P102 100,631 3,867 4.00 35,289 16.97 0.7287
2020-11-13 2020-09-30 13F UNITEDHEALTH GROUP COM 91324P102 96,764 1,371 1.44 30,168 7.22 0.7014
2020-08-10 2020-06-30 13F UNITEDHEALTH GROUP COM 91324P102 95,393 -4,970 -4.95 28,136 12.41 0.7023
2020-05-11 2020-03-31 13F UNITEDHEALTH GROUP COM 91324P102 100,363 -7,323 -6.80 25,029 -20.94 0.6973
2020-02-13 2019-12-31 13F UNITEDHEALTH GROUP COM 91324P102 107,686 -6,899 -6.02 31,658 27.13 0.6820
2019-11-12 2019-09-30 13F UNITEDHEALTH GROUP COM 91324P102 114,585 -5,760 -4.79 24,902 -15.20 0.5687
2019-08-12 2019-06-30 13F UNITEDHEALTH GROUP COM 91324P102 120,345 -15,825 -11.62 29,365 -12.78 0.6498
2019-05-09 2019-03-31 13F UNITEDHEALTH GROUP COM 91324P102 136,170 -1,545 -1.12 33,669 -1.86 0.7424
2019-02-13 2018-12-31 13F UNITEDHEALTH GROUP COM 91324P102 137,715 -13,792 -9.10 34,308 -14.88 0.8551
2018-11-13 2018-09-30 13F UNITEDHEALTH GROUP COM 91324P102 151,507 7,530 5.23 40,307 14.11 0.7955
2018-08-10 2018-06-30 13F UNITEDHEALTH GROUP COM 91324P102 143,977 -1,995 -1.37 35,323 13.08 0.7241
2018-05-14 2018-03-31 13F UNITEDHEALTH GROUP COM 91324P102 145,972 2,405 1.68 31,238 -1.30 0.6220
2018-02-09 2017-12-31 13F UNITEDHEALTH GROUP COM 91324P102 143,567 2,819 2.00 31,651 14.82 0.6283
2017-10-20 2017-09-30 13F/A-1 UNITEDHEALTH GROUP COM 91324P102 140,748 -16,493 -10.49 27,565 -5.46 0.6129
2017-10-18 2017-09-30 13F UNITEDHEALTH GROUP COM 91324P102 349,385 192,144 30,134
2017-07-26 2017-06-30 13F UNITEDHEALTH GROUP COM 91324P102 157,241 1,254 0.80 29,156 13.97 0.7236
2017-04-26 2017-03-31 13F UNITEDHEALTH GROUP COM 91324P102 155,987 1,994 1.29 25,583 3.81 0.6530
2017-01-10 2016-12-31 13F UNITEDHEALTH GROUP COM 91324P102 153,993 -59,066 -27.72 24,645 -17.38 0.6663
2016-10-28 2016-09-30 13F UNITEDHEALTH GROUP COM 91324P102 213,059 -5,060 -2.32 29,828 -3.15 0.7140
2016-07-25 2016-06-30 13F UNITEDHEALTH GROUP COM 91324P102 218,119 18,675 9.36 30,798 19.80 0.7145
2016-05-11 2016-03-31 13F UNITEDHEALTH GROUP COM 91324P102 199,444 1,341 0.68 25,708 10.31 0.6156
2016-02-05 2015-12-31 13F UNITEDHEALTH GROUP COM 91324P102 198,103 -151,282 -43.30 23,305 -22.66 0.5503
2015-10-13 2015-09-30 13F UNITEDHEALTH GROUP COM 91324P102 349,385 95,557 37.65 30,134 -2.69 0.4775
2015-07-30 2015-06-30 13F UNITEDHEALTH GROUP COM 91324P102 253,828 -46,295 -15.43 30,967 -12.77 0.6196
2015-05-07 2015-03-31 13F UNITEDHEALTH GROUP COM 91324P102 300,123 300,123 0.00 35,502 0.6181
2015-02-04 2014-12-31 13F UNITEDHEALTH GROUP COM 91324P102 0 -349,385 -100.00 0 -100.00
2014-10-24 2014-09-30 13F UNITEDHEALTH GROUP COM 91324P102 349,385 -2,526 -0.72 30,134 4.74 0.4679
2014-08-08 2014-06-30 13F UNITEDHEALTH GROUP COM 91324P102 351,911 39,822 12.76 28,769 12.43 0.4434
2014-05-07 2014-03-31 13F UNITEDHEALTH GROUP COM 91324P102 312,089 -2,348 -0.75 25,588 8.07 0.4252
2014-02-03 2013-12-31 13F/A-1 UNITEDHEALTH GROUP COM 91324P102 314,437 30,595 10.78 23,677 16.49 0.4029
2014-01-27 2013-12-31 13F UNITEDHEALTH GROUP COM 91324P102 314,437 23,677
2013-10-28 2013-09-30 13F UNITEDHEALTH GROUP COM 91324P102 283,842 -1,404 -0.49 20,326 8.82 0.3734
2013-08-01 2013-06-30 13F UNITEDHEALTH GROUP COM 91324P102 285,246 285,246 18,678 0.3556
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.