AMERICAN AIRLS GROUP INC AAL
COM · Common Stock · CUSIP 02376R102 · ISIN US02376R1023
American airline holding company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.1m this quarter). Holder counts are more reliable. Shares outstanding: 659.8m as of 2025-07-18, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $11.22. Options: 39 managers hold calls ($821.3m notional), 60 hold puts ($2.1bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 552 |
| Q4 2022 | 571 |
| Q1 2023 | 562 |
| Q2 2023 | 566 |
| Q3 2023 | 570 |
| Q4 2023 | 576 |
| Q1 2024 | 600 |
| Q2 2024 | 582 |
| Q3 2024 | 535 |
| Q4 2024 | 587 |
| Q1 2025 | 576 |
| Q2 2025 | 565 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 239 | 273 |
| Q4 2023 | 211 | 296 |
| Q1 2024 | 285 | 267 |
| Q2 2024 | 254 | 289 |
| Q3 2024 | 243 | 295 |
| Q4 2024 | 245 | 248 |
| Q1 2025 | 288 | 259 |
| Q2 2025 | 258 | 287 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $730.4m | $2.6bn | 3.62 |
| Q4 2024 | $1.2bn | $3.5bn | 2.80 |
| Q1 2025 | $683.3m | $1.9bn | 2.83 |
| Q2 2025 | $821.3m | $2.1bn | 2.53 |
Biggest buyers
| JANE STREET GROUP, LLC | Added | +4.0m |
| UBS Group AG | Added | +4.0m |
| MARSHALL WACE, LLP | Added | +3.8m |
| MORGAN STANLEY | Added | +3.7m |
| BNP PARIBAS FINANCIAL MARKETS | Added | +3.6m |
| ROYAL BANK OF CANADA | Added | +3.5m |
| WELLS FARGO & COMPANY/MN | Added | +3.1m |
| MILLENNIUM MANAGEMENT LLC | Added | +3.0m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +2.3m |
| BANK OF AMERICA CORP /DE/ | Added | +2.3m |
Biggest sellers
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -11.0m |
| PRIMECAP MANAGEMENT CO/CA/ | Reduced | -7.0m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -4.9m |
| FMR LLC | Reduced | -4.8m |
| Man Group plc | Reduced | -4.3m |
| Nearwater Capital Markets, Ltd | Sold out | -2.8m |
| Qube Research & Technologies Ltd | Sold out | -2.6m |
| Freestone Grove Partners LP | Sold out | -1.7m |
| Slate Path Capital LP | Reduced | -1.7m |
| JPMORGAN CHASE & CO | Reduced | -1.6m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $171.5m15.3m shares |
| CITADEL ADVISORS LLC | Reduced | $121.9m10.9m shares |
| GOLDMAN SACHS GROUP INC | Added | $70.0m6.2m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $62.2m5.5m shares |
| D. E. Shaw & Co., Inc. | Added | $46.8m4.2m shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $43.4m3.9m shares |
| Squarepoint Ops LLC | Added | $39.9m3.6m shares |
| SIMPLEX TRADING, LLC | Reduced | $34.3m3.1m shares |
| UBS Group AG | Added | $30.8m2.7m shares |
| IMC-Chicago, LLC | Added | $21.1m1.9m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $254.0m22.6m shares |
| CITADEL ADVISORS LLC | Added | $233.8m20.8m shares |
| Parallax Volatility Advisers, L.P. | Added | $137.4m12.2m shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $95.4m8.5m shares |
| Lombard Odier Asset Management (USA) Corp | Reduced | $92.7m8.3m shares |
| D. E. Shaw & Co., Inc. | Added | $89.4m8.0m shares |
| CITIGROUP INC | Reduced | $83.6m7.5m shares |
| JANE STREET GROUP, LLC | Added | $81.9m7.3m shares |
| Hudson Bay Capital Management LP | Added | $74.0m6.6m shares |
| BARCLAYS PLC | Reduced | $73.3m6.5m shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| PRIMECAP MANAGEMENT CO/CA/ 13G · institution +2.9 pts · filed 2026-06-05 | 10.5% |
| BlackRock, Inc. 13G · institution filed 2026-10-27 | 9.4% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $235.6k | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $1.8m | $1.8m |
| Q1 2025 | 0 | — | 1 | $890.2k | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 62.2m $698.1m | Reduced -1.4m |
| BlackRock, Inc. 0.01% of their portfolio | 57.8m $648.3m | Reduced -191.4k |
| PRIMECAP MANAGEMENT CO/CA/ 0.48% of their portfolio | 53.5m $600.0m | Reduced -7.0m |
| UBS Group AG 0.06% of their portfolio | 24.8m $278.7m | Added +4.0m |
| STATE STREET CORP 0.01% of their portfolio | 18.7m $210.3m | Reduced -269.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 12.4m $139.1m | Reduced -20.2k |
| TWO SIGMA INVESTMENTS, LP 0.19% of their portfolio | 9.2m $102.9m | Added +515.3k |
| TWO SIGMA ADVISERS, LP 0.20% of their portfolio | 8.6m $96.8m | Reduced -494.9k |
| MORGAN STANLEY 0.01% of their portfolio | 8.4m $94.1m | Added +3.7m |
| U S GLOBAL INVESTORS INC 10.20% of their portfolio | 7.7m $86.6m | Added +537.0k |
| Slate Path Capital LP 1.36% of their portfolio | 7.1m $79.2m | Reduced -1.7m |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 6.4m $71.7m | Added +397.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio | 6.2m $69.4m | Reduced -11.0m |
| JANE STREET GROUP, LLC 0.11% of their portfolio | 5.9m $66.5m | Added +4.0m |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 5.3m $59.3m | Added +3.1m |
| MARSHALL WACE, LLP 0.07% of their portfolio | 5.0m $56.3m | Added +3.8m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 5.0m $55.9m | Reduced -235.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 4.9m $55.3m | Added +357.7k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 4.6m $51.4m | Added +3.0m |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 4.4m $49.9m | Added +3.6m |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 4.2m $47.3m | Added +1.0m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 4.1m $45.9m | Reduced -289.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 3.9m $43.6m | Added +3.5m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 3.8m $42.4m | Added +299.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 3.2m $36.4m | Added +2.3m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 3.2m $35.6m | Reduced -4.9m |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 3.1m $35.0m | Added +2.3m |
| Invesco Ltd. 0.01% of their portfolio | 3.0m $33.4m | Added +36.9k |
| HRT FINANCIAL LP 0.16% of their portfolio | 2.7m $30.8m | Added +83.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 2.6m $29.5m | Added +152.8k |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 2.6m $28.6m | Added +828.6k |
| Rockefeller Capital Management L.P. 0.03% of their portfolio | 2.5m $28.1m | Added +1.5m |
| BARCLAYS PLC 0.01% of their portfolio | 2.4m $26.9m | Added +31.8k |
| Parallax Volatility Advisers, L.P. 1.06% of their portfolio | 2.3m $26.5m | Added +200.2k |
| NATIONAL BANK OF CANADA /FI/ 0.03% of their portfolio | 2.3m $25.4m | Added +2.3m |
| FEDERATED HERMES, INC. 0.05% of their portfolio | 2.2m $24.8m | Added +714.6k |
| Jump Financial, LLC 0.26% of their portfolio | 1.9m $21.5m | Added +1.3m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.9m $21.3m | Reduced -1.6m |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 1.7m $19.0m | Reduced -18.9k |
| LSV ASSET MANAGEMENT 0.04% of their portfolio | 1.6m $18.3m | Reduced -53.8k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 1.5m $16.9m | Added +386.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 1.5m $16.8m | Reduced -19.1k |
| NORGES BANK 0.00% of their portfolio | 1.3m $15.1m | Reduced -447.9k |
| Engineers Gate Manager LP 0.19% of their portfolio | 1.3m $15.0m | Added +369.3k |
| PEAK6 LLC 0.27% of their portfolio | 1.3m $15.0m | Added +661.8k |
| Brevan Howard Capital Management LP 0.16% of their portfolio | 1.3m $14.9m | Added +601.5k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 1.3m $14.8m | Added +329.5k |
| Hosking Partners LLP 0.58% of their portfolio | 1.3m $14.5m | Reduced -25.3k |
| PAR CAPITAL MANAGEMENT INC 0.46% of their portfolio | 1.2m $14.0m | New |
| Verition Fund Management LLC 0.08% of their portfolio | 1.2m $13.7m | Added +791.7k |
| Nuveen, LLC 0.00% of their portfolio | 1.2m $13.4m | Reduced -291.1k |
| California Public Employees Retirement System 0.01% of their portfolio | 1.2m $13.1m | Added +55.1k |
| GROUP ONE TRADING LLC 0.40% of their portfolio | 1.1m $12.4m | Added +285.9k |
| Man Group plc 0.03% of their portfolio | 1.1m $12.2m | Reduced -4.3m |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 983.3k $11.0m | Added +78.5k |
| Quantbot Technologies LP 0.28% of their portfolio | 973.0k $10.9m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 881.2k $9.9m | Reduced -137.1k |
| SIMPLEX TRADING, LLC 0.26% of their portfolio | 851.3k $9.6m | Added +373.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 828.9k $9.3m | Added +153.2k |
| CITIGROUP INC 0.01% of their portfolio | 823.5k $9.2m | Reduced -1.4m |
| Retirement Systems of Alabama 0.03% of their portfolio | 806.1k $9.0m | Added +5.7k |
| Aquatic Capital Management LLC 0.18% of their portfolio | 789.0k $8.9m | New |
| Squarepoint Ops LLC 0.02% of their portfolio | 697.6k $7.8m | Reduced -506.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 689.9k $7.7m | Reduced -32.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 614.8k $6.9m | Reduced -37.1k |
| CIBC WORLD MARKET INC. 0.02% of their portfolio | 614.3k $6.9m | Reduced -59.1k |
| Legal & General Group Plc 0.00% of their portfolio | 573.8k $6.4m | Added +12.2k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio | 573.5k $6.4m | Added +176.6k |
| IMC-Chicago, LLC 0.16% of their portfolio | 557.9k $6.3m | Added +107.3k |
| Leonteq Securities AG 0.36% of their portfolio | 542.3k $6.1m | Added +77.9k |
| NATIXIS 0.03% of their portfolio | 531.2k $6.0m | New |
| MetLife Investment Management, LLC 0.03% of their portfolio | 499.8k $5.6m | Reduced -80.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 497.7k $5.6m | Reduced -27.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 473.3k $5.3m | Reduced -19.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 468.5k $5.3m | Added +15.2k |
| Jessup Wealth Management, Inc 2.02% of their portfolio | 447.5k $5.0m | New |
| LPL Financial LLC 0.00% of their portfolio | 436.7k $4.9m | Added +65.8k |
| Amundi 0.00% of their portfolio | 430.8k $5.0m | Reduced -316.1k |
| Nebula Research & Development LLC 0.41% of their portfolio | 428.8k $4.8m | New |
| KWMG, LLC 0.44% of their portfolio | 420.4k $4.7m | Added +37.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 403.5k $4.5m | Reduced -456.6k |
| Quinn Opportunity Partners LLC 0.39% of their portfolio | 402.0k $4.5m | Reduced -290.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 372.9k $4.2m | Reduced -50.9k |
| MAVERICK CAPITAL LTD 0.06% of their portfolio | 368.6k $4.1m | New |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 361.1k $4.1m | Reduced -82.0k |
| Quantinno Capital Management LP 0.02% of their portfolio | 359.1k $4.0m | Added +54.8k |
| TUDOR INVESTMENT CORP ET AL 0.03% of their portfolio | 353.5k $4.0m | New |
| Allianz Asset Management GmbH 0.01% of their portfolio | 352.3k $4.0m | Reduced -173.2k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 328.0k $3.7m | Reduced -10.5k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 318.6k $3.6m | Reduced -18.0k |
| FMR LLC 0.00% of their portfolio | 315.5k $3.5m | Reduced -4.8m |
| Swiss National Bank 0.00% of their portfolio | 314.2k $3.5m | Reduced -4.1k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 307.2k $4.3m | Reduced -859.8k |
| Treasurer of the State of North Carolina 0.01% of their portfolio | 304.6k $3.4m | Added +5.1k |
| AMALGAMATED BANK 0.03% of their portfolio | 301.9k $3.4m | Reduced -251 |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 297.3k $3.3m | Reduced -907.9k |
| Capital Markets Trading UK LLP 3.70% of their portfolio | 290.3k $3.3m | Added +234.1k |
| Schonfeld Strategic Advisors LLC 0.02% of their portfolio | 282.7k $3.2m | New |
| SG Americas Securities, LLC 0.01% of their portfolio | 274.2k $3.1m | Reduced -462.1k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 270.7k $3.0m | Unchanged |