Oscar Health’s Transition Continues Following a Stake Reduction by Glynn Capital
Key Points
Sold 153,753 shares of Oscar Health, a net position change of $10.47 million
Transaction represented 0.8% of fund’s 13F AUM
Post-sale stake: 2,856,025 shares valued at $54.06 million
Oscar Health remains the fund’s 1st-largest holding, accounting for 17.06% of AUM
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GLYNN CAPITAL MANAGEMENT LLC disclosed a sale of 153,753 shares of Oscar Health (NYSE:OSCR), reducing its position by approximately $10.47 million, per a November 12, 2025, SEC filing.
What happened
According to a Securities and Exchange Commission filing dated November 12, 2025, GLYNN CAPITAL MANAGEMENT LLC sold 153,753 shares of Oscar Health (NYSE:OSCR) during the third quarter. The fund’s position decreased to 2,856,025 shares, valued at $54.06 million as of September 30, 2025.
What else to know
This reduction leaves Oscar Health at 17.06% of the fund’s 13F AUM, retaining its status as the 1st-largest holding.
Top holdings after the filing:
- NYSE:OSCR: $54.06 million (18.0% of AUM)
- NYSE:TSM: $24.21 million (8.1% of AUM)
- NYSE:NU: $22.29 million (7.4% of AUM)
- NYSE:VRT: $21.11 million (7.0% of AUM)
- NYSE:SNOW: $20.06 million (6.7% of AUM)
As of November 11, 2025, shares of Oscar Health were priced at $14.85, up 7.6% over the past year, underperforming the S&P 500 by 4.52 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $11.29 billion |
| Net Income (TTM) | $-244.09 million |
| Price (as of market close 2025-11-11) | $14.85 |
| One-Year Price Change | 7.61% |
Company Snapshot
Oscar Health, Inc. is a technology-focused health insurance company that provides health insurance products and the +Oscar platform to customers in the United States.
The company offers health insurance products including Individual & Family, Small Group, and Medicare Advantage plans, as well as the +Oscar technology platform and reinsurance services.
Oscar Health, Inc. serves individuals, families, small businesses, and Medicare-eligible customers across the United States.
Foolish take
Oscar Health has reached a point that few young insurers ever do. The company is no longer fighting for survival. For the first time in its history, the fundamentals are stable enough that institutional investors can treat the stock as a long-term bet rather than a speculative swing. Glynn Capital trimmed its position this quarter, but it kept Oscar as its largest holding. This decision speaks to the underlying belief that something more durable is taking shape within the business.
Oscar Health is finding its footing again, backed by stronger cost controls and a clearer read on the membership mix that drives sustainable performance in the insurance market. Oscar’s medical loss ratios have improved as its pricing finally lines up with the risk in its membership. Administrative spending is also starting to reflect a more focused operating structure. The +Oscar platform, once treated as a side project, is now playing a fundamental role in how the company scales without adding heavy overhead. And now Oscar Health is no longer in the business of offering insurance alone. It is building a technology-enabled model that can learn and improve with each enrollment cycle.
For investors, it is important to watch whether Oscar can turn this stability into steady and predictable earnings. Investors should also evaluate how well the company protects this progress as it scales membership and expands the reach of +Oscar. The company has a more substantial base to build on and a clearer sense of the levers that matter. If the company stays on this path, Oscar’s recovery could become one of the more critical turnarounds in the health insurance space.
Glossary
13F AUM: The total value of assets reported by an institutional investment manager on SEC Form 13F.
Stake: The amount of ownership an investor or fund holds in a particular company or asset.
Holding: A security or asset owned by an investor or fund, typically part of a portfolio.
Fund: An investment vehicle pooling money from multiple investors to buy securities according to a stated strategy.
Quarter: A three-month period used by companies and funds for financial reporting and performance measurement.
Technology platform: A suite of digital tools or software services supporting a company's core business operations.
Reinsurance: Insurance purchased by an insurance company from another insurer to reduce risk exposure.
Medicare Advantage: A type of health insurance plan in the U.S. offered by private companies as an alternative to traditional Medicare.
Payors: Entities, such as insurance companies or government programs, that pay for healthcare services.
TTM: The 12-month period ending with the most recent quarterly report.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Snowflake and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Nu Holdings. The Motley Fool has a disclosure policy.
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