Patient Opportunity Equity Strategy Remains Firm on Its Thesis for UnitedHealth Group (UNH)

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Soumya Eswaran

Mon, April 13, 2026 astatine 8:40 AM CDT 3 min read

Patient Capital Management, based successful Baltimore, released its first-quarter 2026 capitalist missive for the “Patient Opportunity Equity Strategy,” disposable for download here. The strategy’s semipermanent worth attack aims to physique wealthiness implicit time. It returned -5.96% nett of fees successful Q1, compared to the S&P 500’s -4.33% return. As per three-factor show attribution exemplary the underperformance was owed to enactment and enactment effects, partially offset by allocation effects. The twelvemonth started powerfully with markets reaching an all-time precocious successful precocious January, past reversed. AI fears sparked a "SaaS pocalypse," portion 'hyperscalers' CAPEX worries affected returns. Software indebtedness and illiquid markets unsettled backstage credit, starring astir BDCs to restrict redemptions. Middle East conflicts pushed crude lipid prices higher, further expanding the hazard of inflation. Please reappraisal the Strategy’s apical 5 holdings to summation insights into their cardinal selections for 2026.

In its first-quarter 2026 capitalist letter, Patient Opportunity Equity Strategy highlighted stocks similar UnitedHealth Group Incorporated (NYSE:UNH). UnitedHealth Group Incorporated (NYSE:UNH) is simply a multinational wellness benefits institution based successful Eden Prairie, Minnesota. On April 10, 2026, UnitedHealth Group Incorporated (NYSE:UNH) banal closed astatine $304.33 per share. One-month instrumentality of UnitedHealth Group Incorporated (NYSE:UNH) was 6.60%, and its shares mislaid 48.16% implicit the past 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a marketplace capitalization of $276.23 billion.

Patient Opportunity Equity Strategy stated the pursuing regarding UnitedHealth Group Incorporated (NYSE:UNH) successful its Q1 2026 capitalist letter:

"UnitedHealth Group Incorporated (NYSE:UNH) was the largest detractor successful the archetypal quarter, declining 15.7%. Shares came nether unit pursuing a disappointing Medicare Advantage complaint update, arsenic CMS projected conscionable a 0.09% reimbursement summation for 2027, good beneath capitalist expectations for a mid-single-digit summation and insufficient to offset rising aesculapian outgo trends. However, arsenic we entered the 2nd quarter, CMS revised its last Medicare Advantage outgo complaint to a 2.48% increase, materially supra the 0.09% initially proposed. We proceed to judge UnitedHealth remains a class person with a uniquely integrated level spanning wellness benefits (Optum Health), pharmacy benefits absorption (Optum Rx), and wellness services (Optum Insight). The company's semipermanent net powerfulness and competitory positioning remain, successful our view, intact. Management continues to people 13-16% semipermanent EPS growth, which they expect to resume successful 2027. We took the pullback arsenic an accidental to summation our vulnerability astatine what we judge is simply a compelling valuation for a concern of this quality. We stay diligent successful the interim collecting a 3% dividend output supported by a accordant buyback program."

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