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Did not see this coming:
Warren Buffett’s Berkshire Hathaway revealed a new stake in troubled insurer UnitedHealth after secretly building the position for two quarters in a row, according to a regulatory filing.
The Omaha-based conglomerate bought more than 5 million shares in the health care firm for a stake worth about $1.6 billion at the end of June.
There was much speculation about the mystery position before Thursday with many guessing it would be a defense name. The confidential treatment allowed Berkshire to quietly build up a position and limit price movement without stoking volatility.
Warren Buffett’s Berkshire Hathaway revealed a new stake in troubled insurer UnitedHealth after secretly building the position for two quarters in a row, according to a regulatory filing.
The Omaha-based conglomerate bought more than 5 million shares in the health care firm for a stake worth about $1.6 billion at the end of June.
There was much speculation about the mystery position before Thursday with many guessing it would be a defense name. The confidential treatment allowed Berkshire to quietly build up a position and limit price movement without stoking volatility.