UNITEDHEALTH GROUP INC

Ticker: UNH CUSIP: 91324P102 Class: Common Stock

Welch Group, LLC's Holding History (CIK: 0001443095)

Note: Option positions (PUT/CALL) are excluded.

Q4 2018

Shares 445 Value ($000) $111 Avg Close $235.05 Range $206.71 - $256.77

Q3 2018

Shares 432 Value ($000) $115 Avg Close $230.64 Range $216.27 - $241.03

Q2 2018

Shares 432 Value ($000) $106 Avg Close $212.11 Range $189.47 - $226.77

Q1 2016

Shares 1,674 Value ($000) $216 Avg Close $100.90 Range $91.59 - $112.15

Q4 2015

Shares 1,674 Value ($000) $197 Avg Close $99.29 Range $92.98 - $106.88

Q3 2015

Shares 1,674 Value ($000) $194 Avg Close $101.20 Range $80.24 - $106.60

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	445	$111	$235.05	$206.71 - $256.77
Q3 2018	432	$115	$230.64	$216.27 - $241.03
Q2 2018	432	$106	$212.11	$189.47 - $226.77
Q1 2016	1,674	$216	$100.90	$91.59 - $112.15
Q4 2015	1,674	$197	$99.29	$92.98 - $106.88
Q3 2015	1,674	$194	$101.20	$80.24 - $106.60