UNITEDHEALTH GROUP INC

CUSIP: 91324p102 Class: cs

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (1)

BERKSHIRE ASSET MANAGEMENT LLC/PA

Value ($000) $2,475 Shares 7,498

Institution	Shares	Value ($000)
BERKSHIRE ASSET MANAGEMENT LLC/PA	7,498	$2,475

Increased Positions (5)

RIVERPARK CAPITAL MANAGEMENT LLC

Value ($000) $1,058 (+5.2%) Shares 3,206 (+10.1%)

RiverPark Advisors, LLC

Value ($000) $1,662 (+6.4%) Shares 5,036 (+11.3%)

EVERETT HARRIS & CO /CA/

Value ($000) $975 (+12.3%) Shares 2,953 (+17.5%)

Douglass Winthrop Advisors, LLC

Value ($000) $634 (+7.5%) Shares 1,922 (+12.4%)

CHICKASAW CAPITAL MANAGEMENT LLC

Value ($000) $3 (-0.2%) Shares 9,842 (+4.4%)

Institution	Prev Shares	Curr Shares	Change
RIVERPARK CAPITAL MANAGEMENT LLC	2,913	3,206	+293 (+10.1%)
RiverPark Advisors, LLC	4,525	5,036	+511 (+11.3%)
EVERETT HARRIS & CO /CA/	2,513	2,953	+440 (+17.5%)
Douglass Winthrop Advisors, LLC	1,710	1,922	+212 (+12.4%)
CHICKASAW CAPITAL MANAGEMENT LLC	9,428	9,842	+414 (+4.4%)

Decreased Positions (14)

Sustainable Growth Advisers, LP

Value ($000) $469,585 (-17.1%) Shares 1,422,511 (-13.3%)

AUXIER ASSET MANAGEMENT LLC

Value ($000) $21,136 (-5.6%) Shares 64,028 (-1.3%)

BAHL & GAYNOR INC

Value ($000) $219,477 (-7.1%) Shares 664,861 (-2.8%)

NORTH STAR ASSET MANAGEMENT INC

Value ($000) $8,665 (-17.6%) Shares 26,250 (-13.8%)

Sandhill Capital Partners LLC

Value ($000) $4,234 (-15.6%) Shares 12,826 (-11.7%)

SVB WEALTH LLC

Value ($000) $4,480 (-12.9%) Shares 13,572 (-8.9%)

S&CO INC

Value ($000) $13 (-6.3%) Shares 40,687 (-2.0%)

Azimuth Capital Investment Management LLC

Value ($000) $8,573 (-5.7%) Shares 25,970 (-1.4%)

SlateStone Wealth, LLC

Value ($000) $2 (-13.3%) Shares 5,125 (-9.4%)

Corundum Group, Inc.

Value ($000) $210 (-10.0%) Shares 637 (-5.9%)

DF DENT & CO INC

Value ($000) $884 (-11.6%) Shares 2,677 (-7.6%)

COZAD ASSET MANAGEMENT INC

Value ($000) $204 (-15.7%) Shares 619 (-11.8%)

FRANKLIN STREET ADVISORS INC /NC

Value ($000) $565 (-5.5%) Shares 1,711 (-1.2%)

DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC

Value ($000) $0 (-5.5%) Shares 1,040 (-1.1%)

Institution	Prev Shares	Curr Shares	Change
Sustainable Growth Advisers, LP	1,640,012	1,422,511	-217,501 (-13.3%)
AUXIER ASSET MANAGEMENT LLC	64,868	64,028	-840 (-1.3%)
BAHL & GAYNOR INC	684,161	664,861	-19,300 (-2.8%)
NORTH STAR ASSET MANAGEMENT INC	30,465	26,250	-4,215 (-13.8%)
Sandhill Capital Partners LLC	14,527	12,826	-1,701 (-11.7%)
SVB WEALTH LLC	14,899	13,572	-1,327 (-8.9%)
S&CO INC	41,526	40,687	-839 (-2.0%)
Azimuth Capital Investment Management LLC	26,328	25,970	-358 (-1.4%)
SlateStone Wealth, LLC	5,654	5,125	-529 (-9.4%)
Corundum Group, Inc.	677	637	-40 (-5.9%)
DF DENT & CO INC	2,896	2,677	-219 (-7.6%)
COZAD ASSET MANAGEMENT INC	702	619	-83 (-11.8%)
FRANKLIN STREET ADVISORS INC /NC	1,731	1,711	-20 (-1.2%)
DEROY & DEVEREAUX PRIVATE INVESTMENT COUNSEL INC	1,052	1,040	-12 (-1.1%)

Exited Positions (6)

WBI INVESTMENTS, INC.

Value ($000) $1,127 Shares 3,264

EdgeRock Capital LLC

Value ($000) $924 Shares 2,677

Lesa Sroufe & Co

Value ($000) $0 Shares 877

Calydon Capital

Value ($000) $320 Shares 925

Sageworth Trust Co

Value ($000) $969 Shares 2,806

SONATA CAPITAL GROUP INC

Value ($000) $0 Shares 965

Institution	Prev Shares	Prev Value ($000)
WBI INVESTMENTS, INC.	3,264	$1,127
EdgeRock Capital LLC	2,677	$924
Lesa Sroufe & Co	877	$0
Calydon Capital	925	$320
Sageworth Trust Co	2,806	$969
SONATA CAPITAL GROUP INC	965	$0