Victory Capital Management Trims UnitedHealth Group Stake

Healthcare conglomerate's shares owned by firm reduced by over 60% in Q3

Published on Mar. 4, 2026

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Victory Capital Management Inc. reduced its position in UnitedHealth Group Incorporated (NYSE:UNH) by 62.3% in the third quarter, according to the company's latest Form 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 434,721 shares of the healthcare conglomerate's stock, down from 1.15 million shares previously.

Why it matters

UnitedHealth Group is one of the largest healthcare companies in the U.S., providing insurance and other services. Institutional investors' holdings in the stock can signal broader market sentiment and trends in the healthcare sector.

The details

According to the 13F filing, Victory Capital Management sold 719,587 shares of UnitedHealth Group during the third quarter, leaving it with a remaining stake valued at $150.1 million. The firm cited portfolio rebalancing and risk management as reasons for the reduced position.

  • Victory Capital Management filed its 13F report for the third quarter of 2026 on March 4, 2026.

The players

Victory Capital Management Inc.

An investment management firm that provides asset management services to institutional and individual investors.

UnitedHealth Group Incorporated

A diversified healthcare company that provides insurance, healthcare services, and technology solutions.

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The takeaway

The reduced stake by Victory Capital Management in UnitedHealth Group reflects broader trends in the healthcare sector, as investors navigate regulatory changes, cost pressures, and evolving consumer preferences. The move highlights the importance of portfolio diversification and risk management for institutional investors.