The London Firm, an funding administration firm, launched “The London Firm Earnings Fairness Technique” third-quarter 2025 investor letter. A replica of the letter might be downloaded right here. US equities continued their rally within the third quarter, pushed by the Fed charge reduce, strong company earnings, and enthusiasm round AI. Within the third quarter, the portfolio appreciated 6.0% gross (5.8% web) in comparison with a 5.3% improve within the Russell 1000 Worth Index. Constructive inventory part led the outperformance of the portfolio within the quarter, however was partially offset by sector publicity headwinds. Please evaluation the fund’s high 5 holdings to realize perception into their key alternatives for 2025.
In its third-quarter 2025 investor letter, The London Firm Earnings Fairness Technique highlighted shares corresponding to UnitedHealth Group Integrated (NYSE:UNH). UnitedHealth Group Integrated (NYSE:UNH) is a diversified healthcare firm that operates by UnitedHealthcare, Optum Well being, Optum Perception, and Optum Rx segments. The one-month return of UnitedHealth Group Integrated (NYSE:UNH) was -10.57%, and its shares misplaced 44.56% of their worth during the last 52 weeks. On November 4, 2025, UnitedHealth Group Integrated (NYSE:UNH) inventory closed at $330.83 per share, with a market capitalization of $299.679 billion.
The London Firm Earnings Fairness Technique said the next concerning UnitedHealth Group Integrated (NYSE:UNH) in its third quarter 2025 investor letter:
“Initiated: UnitedHealth Group Integrated (NYSE:UNH) – UNH is the biggest and most diversified well being insurer within the U.S., anchored by two complementary platforms: UnitedHealthcare, which offers advantages to people and employers, and Optum, which gives healthcare companies, knowledge, and know-how options. This built-in mannequin provides UNH unmatched scale and perception into healthcare prices, enabling each effectivity and improved outcomes. Its huge supplier networks, native dominance, and data-driven capabilities kind sturdy aggressive benefits and excessive limitations to entry. Lengthy-term development is supported by highly effective demographics, because the ageing U.S. inhabitants drives regular Medicare Benefit enrollment—a core UNH energy. Whereas near-term elevated medical prices have pressured margins and weighed on the inventory, we view these headwinds as short-term. UNH is already repricing future plans to replicate increased prices, supporting a gradual return to historic margin ranges. With a recurring income base, diversified earnings, and monetary energy, UNH gives engaging draw back safety. At in the present day’s valuation, we see a compelling alternative to personal a structural development chief with resilient money flows.”
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