In a significant portfolio shift, Berkshire Hathaway liquidated its entire stake in UnitedHealth Group (UNH) during the first quarter of 2026, reversing a position it had established less than a year earlier. The conglomerate had purchased 5.04 million shares of the health insurer in 2025, a move that had provided a psychological lift to the stock amid a turbulent period.
Berkshire's 13F filing, released Friday, revealed the sale as part of a broader repositioning that included trimming holdings in Amazon, Visa, and Mastercard, while adding new positions in Delta Air Lines (DAL) and Alphabet (GOOGL). The filing showed Berkshire sold $24.09 billion in stocks and bought $15.94 billion in equities during the quarter.
UnitedHealth shares closed Friday at $393.85, down 1.3%, after dipping to an intraday low of $379. The broader managed care sector saw mixed performance, with CVS Health (CVS) falling 1.3% while Humana (HUM) gained 1.4%.
Separately, Bloomberg reported that UnitedHealth is monitoring the use of artificial intelligence tools by some Optum employees, requiring at least one daily search using products like ChatGPT or Microsoft Copilot. This initiative aligns with UnitedHealth's broader cost and productivity drive, which includes a planned $1.5 billion investment in artificial intelligence this year.
Analysts remain cautious about the health insurance sector's recovery, emphasizing the need for another quarter of stable medical-cost data. “It is probably a little early to call a victory,” said Morningstar analyst Julie Utterback. Leerink Partners analyst Whit Mayo noted that the second quarter will be “the test.”
UnitedHealth has also taken steps to address criticism of its prior authorization process. The UnitedHealthcare unit announced it will eliminate prior approval for 30% of services that currently require it, aiming to streamline patient access. Both UnitedHealth and CVS Health have standardized data and submission rules for over half of prior authorizations, with UnitedHealthcare targeting more than 70% of requests processed through the new system by year-end.
Despite these efforts, risks persist. UnitedHealth disclosed last year that it is responding to formal criminal and civil requests from the Justice Department regarding parts of its Medicare segment. The company has stated it will cooperate fully and stands by its practices.
Berkshire's exit from UnitedHealth may signal shifting priorities rather than a specific negative view on the insurer. The timing is notable as UnitedHealth urges Wall Street to support its pricing moves, reduced bureaucracy, and substantial AI investments, all while the next claims cycle has yet to demonstrate conclusive results.
