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On October 15, 2025, Davenport & Co LLC disclosed a purchase of 155,551 shares of UnitedHealth Group (UNH) for the period ended Q3 2025, an estimated $47.04 million trade.

What happened

An SEC filing dated October 15, 2025 shows Davenport increased its position in UnitedHealth Group (UNH 0.38%) by 155,551 shares during Q3 2025.

The estimated transaction value, based on the average closing price during the quarter, was approximately $47.04 million.

The post-trade position reached 739,525 shares, with a market value of $255.34 million.

What else to know

Following this buy, UnitedHealth Group accounts for 1.36% of Davenport $18.76 billion in 13F reportable assets

The firm’s top holdings after the filing:

1. Brookfield Corp: $583.81 million (3.13% of AUM)
2. Microsoft: $478.54 million (2.56% of AUM) as of 2025-09-30
3. Amazon: $451.10 million (2.42% of AUM) as of 2025-09-30
4. Markel: $391.43 million (2.1% of AUM) as of 2025-09-30
5. Nvidia: $375.98 million (2.01% of AUM) as of 2025-09-30

As of October 14, 2025, shares of UnitedHealth Group were priced at $359.93, down 40.6% over the prior year and underperforming the S&P 500 by 53 percentage points over the same period.

Company Overview

Company Snapshot

UnitedHealth Group:

• Offers health benefit plans, pharmacy care services, healthcare management, and data analytics solutions through segments including UnitedHealthcare and Optum.
• Generates revenue primarily from insurance premiums, healthcare services, and pharmacy benefit management, leveraging scale and integrated platforms.
• Serves national and public sector employers, government programs (Medicare, Medicaid), individuals, and healthcare providers across the United States.

UnitedHealth Group is a leading diversified healthcare company with a broad national footprint and an integrated business model spanning insurance, pharmacy benefits, and healthcare services. The company maintains a competitive edge through its extensive provider networks, data-driven solutions, and ability to serve a wide range of customer segments.

Foolish take

Davenport & Company continued to add to their UnitedHealth position, which now accounts for 1.4% of the firm’s portfolio and is its 9th-largest position.

What makes Davenport’s purchases over the last two quarters noteworthy is that they are essentially doubling down on the company right after its stock sold off heavily.

Hampered by ballooning medical costs, changes in leadership, reduced guidance, and mounting regulatory pressure, UnitedHealth’s stock dropped 39% from its highs in just the last six months.

While UnitedHealth has become a battleground stock of sorts lately, it received a major lift after Warren Buffett’s Berkshire Hathaway disclosed it took a $1.6 billion stake in the stock in the second quarter of 2025.

That is great company for Davenport to join, as it also adds to its stake in UnitedHealth.

Regardless of the headwinds facing UnitedHealth, the company remains one of the most dominant health insurers in the United States.

Currently trading at just 16 times earnings and 13 times free cash flow, the risk-reward ratio on UnitedHealth Group is very appealing.

Glossary

13F reportable AUM: Assets under management that must be disclosed in quarterly SEC Form 13F filings by institutional investment managers.
Quarterly average price: The average price of a security over a specific quarter, used for estimating transaction values.
Post-trade holdings: The total number of shares or value held in a security after a trade is completed.
Top holdings: The largest investments in a fund or portfolio, ranked by market value.
Pharmacy benefit management: Services that manage prescription drug programs for health plans, employers, and government programs.
Integrated platforms: Systems that combine multiple services or business functions into a unified offering.
Provider networks: Groups of healthcare professionals and facilities contracted to deliver services to insurance plan members.
Medicare: A U.S. federal health insurance program for people aged 65 and older, and certain younger individuals with disabilities.
Medicaid: A joint federal and state program in the U.S. providing health coverage to eligible low-income individuals.
TTM: The 12-month period ending with the most recent quarterly report.

On October 8, 2025, Osprey Private Wealth LLC disclosed a buy of 13,580 shares of JPMorgan Chase & Co.(JPM -0.63%), an estimated $4.04 million trade.

What happened

According to its SEC filing dated October 8, 2025, Osprey Private Wealth LLC acquired an additional 13,580 shares of JPMorgan Chase & Co. in the third quarter of 2025. The estimated value of the shares purchased is approximately $4.04 million, based on the average closing price for the quarter. The post-trade position stands at 48,910 shares, worth $15.43 million at quarter-end.

What else to know

The fund increased its JPMorgan Chase & Co. stake, now representing 5.6% of reportable assets.

Osprey’s top holdings after the filing:

• Alphabet: $22.44 million (8.2% of AUM) as of September 30, 2025
• Nvidia: $21.11 million (7.7% of AUM) as of September 30, 2025
• JPMorgan Chase: $15.43 million (5.6% of AUM) as of September 30, 2025
• Meta Platforms: $14.74 million (5.4% of AUM) as of September 30, 2025
• Visa: $12.47 million (4.5% of AUM) as of September 30, 2025

As of October 7, 2025, shares were priced at $307.69, up 45.9% over the past year, outperforming the S&P 500 by 32.0 percentage points over the past year

Company overview

Company snapshot

JPMorgan Chase:

• offers a comprehensive suite of financial products and services, including consumer banking, investment banking, commercial banking, asset and wealth management, and payment solutions.
• serves a broad client base comprising individual consumers, small businesses, corporations, institutional investors, and government entities worldwide.
• operates globally with significant scale across multiple banking segments.

JPMorgan Chase & Co. is one of the world’s largest and most diversified financial institutions, with significant scale across consumer, commercial, and investment banking segments. The company’s integrated business model and global reach enable it to capture a wide range of revenue streams and maintain a strong competitive position.

Foolish take

While Osprey’s addition of $4 million to its JPMorgan Chase position purchase may seem encouraging to investors, it may not be as big a deal as it looks.

Despite this hefty purchase, Osprey’s portfolio allocation to JPMorgan Chase actually dipped from 5.7% to 5.6%. This decline stems from the fact that the firm added to almost all of the investments it holds.

Ultimately, Osprey mostly holds niche-leading stocks that may prove hard to disrupt, so its 5.6% in JP Morgan Chase — making it the largest bank in the United States — fits this billing nicely.

Despite being the largest bank here in the states, JPMorgan Chase has grown its net income and dividend payments by 13% and 9% annually over the last decade.

This growth, paired with the company’s solid return on equity of 16%, reasonable price-to-earnings ratio of 16, and top-quality leadership, makes JPMorgan Chase a great steady-Eddie investment to consider — and why it looks like an excellent stock for Osprey to add to.

Glossary

AUM: Assets under management – The total market value of investments managed by a fund or firm.

Reportable AUM: The portion of a fund’s assets required to be disclosed in regulatory filings.

Stake: The ownership interest or amount of shares held in a particular company or asset.

Holding: A specific security or asset owned within an investment portfolio.

Outperforming: Achieving a higher return than a relevant benchmark or index over a given period.

Dividend yield: Annual dividends per share divided by the share price, expressed as a percentage.

Quarter-end: The last day of a fiscal quarter, used as a reference point for financial data.

Integrated business model: A company structure combining multiple business lines or services to create operational efficiencies.

Institutional investors: Organizations such as pension funds, insurance companies, or endowments that invest large sums of money.

TTM: The 12-month period ending with the most recent quarterly report.

On October 07, 2025, Carolina Wealth Advisors, LLC disclosed a buy of Novo Nordisk A/S (NYSE: NVO) shares, an estimated $6.01 million trade based on the average price for Q3 2025.

What happened

According to a U.S. Securities and Exchange Commission (SEC) filing dated October 07, 2025, Carolina Wealth Advisors, LLC increased its stake in Novo Nordisk, adding 102,629 shares during the third quarter. The estimated trade size was $6.01 million, calculated using the average closing price for the period from July 1 through September 30, 2025. The updated holding stands at 116,973 shares.

What else to know

This transaction was a buy, raising Novo Nordisk A/S to 2.8% of the fund’s 13F reportable AUM as of Q3 2025.

Top holdings after the filing:

• NYSEMKT:SCHQ: $18.93 million (8.2% of AUM) as of September 30, 2025.
• NYSEMKT:BKAG: $13.22 million (5.7% of AUM) as of September 30, 2025.
• NYSEMKT:SCHP: $13.10 million (5.6589% of AUM) as of September 30, 2025.
• NYSE:DELL: $10.14 million (4.3781% of AUM) as of September 30, 2025.
• NYSEMKT:SPHY: $10.09 million (4.3568% of AUM) as of Q3 2025.

As of October 6, 2025, Novo Nordisk A/S shares were priced at $59.65. This price reflects an underperformance of 65.4 percentage points relative to the S&P 500 over the past year.

Company Overview

Company Snapshot

Novo Nordisk:

• Offers pharmaceutical products focused on diabetes, obesity, cardiovascular, rare blood disorders, and hormone replacement therapies, as well as medical devices such as insulin pens and smart diabetes solutions.
• Generates revenue primarily through the development, manufacturing, and global distribution of branded prescription medicines and medical devices, with a strong focus on chronic disease management.
• Serves healthcare providers, hospitals, and patients in Europe, North America, Asia, and other international markets, targeting individuals with diabetes, obesity, and rare diseases.

Novo Nordisk is a global healthcare leader specializing in diabetes and obesity care, with a robust presence in rare disease therapeutics. The company leverages extensive research and development capabilities to deliver innovative pharmaceutical products and smart medical devices. Its scale, diversified product portfolio, and global reach provide a strong competitive position in chronic disease management.

Foolish take

Carolina Wealth Advisors’ $6 million addition to its Novo Nordisk holdings is noteworthy as it grows the holding from a 0.5% position to a 2.8% stake in the firm’s overall portfolio.

This purchase makes the Ozempic and Wegovy maker the 11th-largest holding overall in the firm’s portfolio, and its sixth-largest stock holding.

With five bond and treasury ETFs making up 28% of Carolina Wealth’s holdings, this ballooning Novo Nordisk stake stands out.

Novo Nordisk’s shares have dropped nearly 60% from their highs in the last two years, so this could be a well-timed acquisition.

After receiving immense fanfare for its obesity and diabetic drug breakthroughs, the company’s price-earnings (P/E) ratio soared to 50 as the stock hit new all-time highs in 2024.

However, with revolutionary breakthroughs like these — paired with the subsequent fanfare — comes competition. Now the market has Novo Nordisk trading at a much more reasonable 19 times earnings as it tries to gauge just how much of its leading market share the company will be able to hold on to.

Ultimately, if investors believe in Novo Nordisk’s ability to maintain its leadership advantage and build upon its pipeline of promising treatments, today’s valuation could be a bargain — and Carolina Wealth is piling in.

Glossary

13F AUM: Assets under management reported in quarterly SEC Form 13F filings, covering U.S. equity holdings by institutional investors.
Reportable AUM: The portion of a fund’s assets under management that must be disclosed in regulatory filings, such as Form 13F.
Quarter (Q3 2025): The third three-month period of the 2025 calendar year, covering July 1 to September 30.
Stake: The ownership interest or position held in a company, typically measured by the number of shares owned.
Top holdings: The largest investments in a fund’s portfolio, usually ranked by market value or percentage of total assets.
Filing: An official document submitted to a regulatory authority, such as the SEC, disclosing financial or investment information.
Underperformance: When an investment’s returns are lower than a benchmark or comparable index over a specific period.
Chronic disease management: Ongoing medical care and treatment strategies for long-term health conditions, such as diabetes or obesity.
Pharmaceutical products: Medications developed and manufactured for diagnosis, treatment, or prevention of diseases.
Medical devices: Instruments or apparatuses used in the diagnosis, treatment, or management of medical conditions.
Smart diabetes solutions: Technology-enabled tools, such as connected insulin pens, designed to help manage diabetes more effectively.
TTM: The 12-month period ending with the most recent quarterly report.