These Were the 3 Top-Performing Stocks in the S&P 500 in August 2025

The S&P 500 advanced 1.9% in August, with top performers including UnitedHealth Group, Intel, and Newmont. UnitedHealth Group surged 24.2% after Warren Buffett's Berkshire Hathaway disclosed a new 5 million share position and its Amedisys acquisition finalized. Intel gained 23% following an $8.9 billion government investment, granting the Trump administration a 9.9% ownership stake. Concurrently, gold miner Newmont rose 19.8% as gold prices, up 4.8% in August and near all-time highs, drove an industry-wide boom for mining stocks amid investors seeking safe-haven assets due to prevailing macroeconomic uncertainty.

Analysis

The S&P 500's 1.9% gain in August was significantly outperformed by a few key constituents driven by distinct, non-market catalysts. UnitedHealth Group (UNH) surged 24.2%, primarily due to the disclosure of a new 5 million share position by Berkshire Hathaway, which acted as a powerful investor endorsement. This momentum was further supported by the closure of its long-awaited $3.3 billion acquisition of Amedisys and a technical rebound following weak Q2 results reported in late July. Similarly, Intel (INTC) gained 23% not on operational news but on an unprecedented $8.9 billion direct investment from the U.S. government, granting the administration a 9.9% equity stake and fundamentally altering its capital structure. Meanwhile, Newmont (NEM) rose 19.8% as part of an industry-wide boom in gold mining stocks, fueled by a 4.8% rise in gold prices as investors sought safe-haven assets amid macroeconomic uncertainty. However, Newmont's performance was notably weaker than non-S&P 500 peers such as Coeur Mining (+51.3%), positioning it as a relative underperformer within the sector's rally.

Key Decisions for Investors

• For UnitedHealth, the 24.2% rally has priced in the Berkshire Hathaway endorsement, so investors should now focus on the fundamental execution and synergy realization from the newly closed Amedisys acquisition.
• Investors in Intel must evaluate the long-term implications of the U.S. government's 9.9% ownership, as this introduces both a significant capital backstop and potential political and governance complexities.
• While Newmont benefited from the surge in gold prices, its relative underperformance suggests investors seeking exposure to precious metals should compare its fundamentals against higher-beta peers like Coeur Mining and Gold Fields, which demonstrated greater sensitivity to the commodity's upswing.
• Recognize that August's top performers were driven by idiosyncratic events rather than a single market trend, necessitating a careful evaluation of whether these specific catalysts have sustainable long-term value.