UL SOLUTIONS INC ULS
CLASS A COM SHS · Common Stock · CUSIP 903731107
Safety certification 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 ($12.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $78.56. Options: 12 managers hold calls ($54.4m notional), 6 hold puts ($17.8m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2024 | 131 |
| Q3 2024 | 182 |
| Q4 2024 | 189 |
| Q1 2025 | 191 |
| Q2 2025 | 248 |
| Q3 2025 | 280 |
| Q4 2025 | 353 |
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 2024 | 139 | 46 |
| Q4 2024 | 112 | 72 |
| Q1 2025 | 118 | 85 |
| Q2 2025 | 154 | 94 |
| Q3 2025 | 176 | 111 |
| Q4 2025 | 220 | 114 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $6.2m | $18.3m | 2.95 |
| Q2 2025 | $27.2m | $71.8m | 2.64 |
| Q3 2025 | $20.2m | $9.6m | 0.48 |
| Q4 2025 | $54.4m | $17.8m | 0.33 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +3.8m |
| BlackRock, Inc. | Added | +3.2m |
| Durable Capital Partners LP | New | +2.6m |
| Ghisallo Capital Management LLC | Added | +1.3m |
| VANGUARD GROUP INC | Added | +1.2m |
| STATE STREET CORP | Added | +1.1m |
| Alyeska Investment Group, L.P. | New | +875.0k |
| CITADEL ADVISORS LLC | Added | +547.5k |
| Driehaus Capital Management LLC | Added | +537.5k |
| Capital International Investors | Added | +495.4k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -2.3m |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Reduced | -498.9k |
| Qube Research & Technologies Ltd | Reduced | -438.5k |
| AEGON ASSET MANAGEMENT UK Plc | Reduced | -273.4k |
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -195.5k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -150.5k |
| FMR LLC | Reduced | -142.4k |
| SCOPUS ASSET MANAGEMENT, L.P. | Reduced | -136.0k |
| Capital Research Global Investors | Reduced | -108.5k |
| MACQUARIE GROUP LTD | Sold out | -91.0k |
Biggest calls
| SCOPUS ASSET MANAGEMENT, L.P. | New | $27.6m350.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $10.4m131.6k shares |
| CITADEL ADVISORS LLC | Reduced | $6.0m76.7k shares |
| Walleye Trading LLC | Added | $3.1m39.3k shares |
| JANE STREET GROUP, LLC | Added | $3.0m38.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.6m20.3k shares |
| IMC-Chicago, LLC | New | $1.1m13.4k shares |
| GROUP ONE TRADING LLC | Added | $575.7k7.3k shares |
| JPMORGAN CHASE & CO | New | $473.2k6.0k shares |
| Walleye Capital LLC | Unchanged | $323.3k4.1k shares |
Biggest puts
| Yiheng Capital Management, L.P. | New | $11.8m150.0k shares |
| SCOPUS ASSET MANAGEMENT, L.P. | New | $3.9m50.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $788.6k10.0k shares |
| CITADEL ADVISORS LLC | Reduced | $725.5k9.2k shares |
| Walleye Trading LLC | Reduced | $276.0k3.5k shares |
| Walleye Capital LLC | New | $212.9k2.7k 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 |
|---|---|
| ULSE Inc. 13G · exempt (held before listing) filed 2026-02-10 | 61.6% |
| T. Rowe Price Investment Management, Inc. 13G · institution +2.2 pts · filed 2026-10-07 | 10.7% |
| BlackRock, Inc. 13G · institution +2.7 pts · filed 2026-07-30 | 8.9% |
| Capital International Investors 13G · institution -2.6 pts · filed 2026-05-14 | 8.4% |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 13G · institution -1.8 pts · filed 2026-08-13 | 6.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), Capital Research Global Investors (5.0%, 2026-02-12)
Insider purchases and sales in Q4 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 |
|---|---|---|---|---|---|
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 22 | $11.6m | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $1.6m | — |
| Q1 2025 | 1 | $2.4k | 1 | $102.7k | — |
| Q2 2025 | 1 | $2.3k | 2 | $609.4k | — |
| Q3 2025 | 1 | $2.4k | 0 | — | — |
| Q4 2025 | 2 | $3.0k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-12-19 | ULSE Inc. 10% owner | Sold | $146.2m1.9m shares |
| 2025-12-08 | Genovesi John A Officer | Bought | $2.3k30 shares |
| 2025-12-08 | Hancock Lynn H Officer | Bought | $6238 shares |
| 2025-12-05 | ULSE Inc. 10% owner | Sold | $975.0m12.5m shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| T. Rowe Price Investment Management, Inc. 0.28% of their portfolio | 9.1m $719.0m | Added +3.8m |
| Capital International Investors 0.10% of their portfolio | 8.0m $634.6m | Added +495.4k |
| VANGUARD GROUP INC 0.01% of their portfolio | 6.7m $531.6m | Added +1.2m |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.27% of their portfolio | 6.0m $473.8m | Reduced -498.9k |
| BlackRock, Inc. 0.01% of their portfolio | 5.0m $393.8m | Added +3.2m |
| Capital Research Global Investors 0.06% of their portfolio | 3.8m $302.4m | Reduced -108.5k |
| JANUS HENDERSON GROUP PLC 0.11% of their portfolio | 3.0m $238.5m | Added +54.9k |
| Durable Capital Partners LP 1.91% of their portfolio | 2.6m $202.2m | New |
| BESSEMER GROUP INC 0.27% of their portfolio | 2.2m $175.2m | Added +70.3k |
| FMR LLC 0.01% of their portfolio | 1.9m $147.8m | Reduced -142.4k |
| Allspring Global Investments Holdings, LLC 0.20% of their portfolio | 1.6m $125.5m | Added +167.6k |
| STATE STREET CORP 0.00% of their portfolio | 1.5m $115.2m | Added +1.1m |
| FIRST TRUST ADVISORS LP 0.08% of their portfolio | 1.4m $111.3m | Added +273.7k |
| Ghisallo Capital Management LLC 4.93% of their portfolio | 1.4m $110.3m | Added +1.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.3m $101.2m | Added +230.7k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 1.2m $91.2m | Reduced -47.2k |
| FEDERATED HERMES, INC. 0.14% of their portfolio | 1.1m $83.4m | Added +235.7k |
| Conestoga Capital Advisors, LLC 1.39% of their portfolio | 1.0m $82.5m | Reduced -90.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.0m $81.0m | Added +150.7k |
| NORGES BANK 0.01% of their portfolio | 922.1k $72.7m | Not comparable |
| MORGAN STANLEY 0.00% of their portfolio | 891.9k $70.3m | Added +264.4k |
| Alyeska Investment Group, L.P. 0.19% of their portfolio | 875.0k $69.0m | New |
| Electron Capital Partners, LLC 3.13% of their portfolio | 855.4k $67.5m | Added +69.1k |
| BLAIR WILLIAM & CO/IL 0.18% of their portfolio | 841.6k $66.4m | Reduced -40.7k |
| AltraVue Capital, LLC 5.40% of their portfolio | 830.8k $65.5m | Unchanged |
| Driehaus Capital Management LLC 0.44% of their portfolio | 817.6k $64.5m | Added +537.5k |
| DekaBank Deutsche Girozentrale 0.05% of their portfolio | 756.5k $29.0m | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 727.2k $57.3m | Reduced -65.9k |
| BROWN BROTHERS HARRIMAN & CO 0.30% of their portfolio | 705.0k $55.6m | Reduced -8.9k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 620.1k $48.9m | Added +547.5k |
| Port Capital LLC 1.98% of their portfolio | 581.5k $45.9m | Reduced -43.8k |
| SOROS FUND MANAGEMENT LLC 0.61% of their portfolio | 580.5k $45.8m | Added +100.7k |
| Reynders McVeigh Capital Management, LLC 2.14% of their portfolio | 577.1k $45.5m | Reduced -1.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 574.1k $45.3m | Added +402.6k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 563.4k $44.4m | Reduced -57.5k |
| UBS Group AG 0.01% of their portfolio | 535.6k $42.2m | Reduced -18.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 512.3k $40.4m | Added +87.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 502.0k $39.6m | Reduced -2.3m |
| SCOPUS ASSET MANAGEMENT, L.P. 1.10% of their portfolio | 499.1k $39.4m | Reduced -136.0k |
| NEUBERGER BERMAN GROUP LLC 0.03% of their portfolio | 453.8k $35.8m | Added +334.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio | 445.2k $35.1m | New |
| Zimmer Partners, LP 0.92% of their portfolio | 444.8k $35.1m | New |
| TWO SIGMA INVESTMENTS, LP 0.05% of their portfolio | 434.5k $34.3m | Added +143.3k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 417.5k $32.9m | Added +363.3k |
| Ranger Investment Management, L.P. 2.23% of their portfolio | 411.8k $32.5m | Reduced -1.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 406.7k $32.1m | Added +222.7k |
| SEVEN GRAND MANAGERS, LLC 2.40% of their portfolio | 400.0k $31.5m | Added +200.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 398.0k $31.4m | Reduced -195.5k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 386.3k $30.5m | Reduced -86.6k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 380.9k $30.0m | Added +132.3k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.08% of their portfolio | 376.0k $29.7m | Reduced -26.2k |
| Thrivent Financial for Lutherans 0.05% of their portfolio | 337.9k $26.6m | Added +334.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.03% of their portfolio | 329.8k $26.0m | Reduced -17.7k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 310.7k $24.5m | Added +88.1k |
| TD Asset Management Inc 0.02% of their portfolio | 309.4k $24.4m | Added +20.1k |
| Harvey Partners, LLC 2.18% of their portfolio | 307.8k $24.3m | Reduced -62.2k |
| Senator Investment Group LP 0.95% of their portfolio | 300.0k $23.7m | Added +25.0k |
| Burkehill Global Management, LP 1.56% of their portfolio | 300.0k $23.7m | Unchanged |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.02% of their portfolio | 293.1k $23.5m | Reduced -60.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 287.2k $22.6m | Reduced -150.5k |
| Clearbridge Investments, LLC 0.01% of their portfolio | 222.6k $17.6m | Reduced -20.7k |
| Rockefeller Capital Management L.P. 0.03% of their portfolio | 211.1k $16.6m | Reduced -76.2k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 207.0k $16.3m | Reduced -15.2k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 204.2k $16.1m | New |
| CAPITAL INTERNATIONAL SARL 0.24% of their portfolio | 193.3k $15.2m | Added +29.7k |
| Jefferies Financial Group Inc. 0.12% of their portfolio | 192.9k $15.2m | Added +162.9k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 188.3k $14.9m | Reduced -438.5k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 175.9k $13.9m | Added +9.7k |
| Covalis Capital LLP 1.04% of their portfolio | 169.6k $13.4m | New |
| Baker Chad R 2.39% of their portfolio | 165.6k $13.3m | Added +85 |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 159.8k $12.6m | New |
| AEGON ASSET MANAGEMENT UK Plc 0.14% of their portfolio | 154.3k $12.2m | Reduced -273.4k |
| Swiss National Bank 0.01% of their portfolio | 148.3k $11.7m | Added +27.4k |
| Tidal Investments LLC 0.05% of their portfolio | 145.2k $11.4m | Reduced -68.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 135.6k $10.7m | Added +52.2k |
| Retirement Systems of Alabama 0.03% of their portfolio | 134.8k $10.6m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 131.0k $10.3m | Added +24.0k |
| Monashee Investment Management LLC 5.78% of their portfolio | 130.0k $10.3m | New |
| KINGDON CAPITAL MANAGEMENT, L.L.C. 1.51% of their portfolio | 125.0k $9.9m | Unchanged |
| GABELLI FUNDS LLC 0.07% of their portfolio | 124.4k $9.8m | Added +600 |
| Invesco Ltd. 0.00% of their portfolio | 124.4k $9.8m | Added +99.5k |
| COMERICA BANK 0.04% of their portfolio | 124.2k $9.8m | Added +19.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 121.6k $9.6m | Added +119.2k |
| CAPITAL INTERNATIONAL LTD /CA/ 0.32% of their portfolio | 115.5k $9.1m | Added +14.0k |
| Capital International, Inc./CA/ 0.07% of their portfolio | 115.3k $9.1m | Reduced -4.6k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 113.0k $8.9m | Added +10.9k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 110.2k $8.7m | New |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.05% of their portfolio | 106.8k $8.4m | Reduced -11.7k |
| Legal & General Group Plc 0.00% of their portfolio | 103.3k $8.1m | Added +45.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 96.2k $7.6m | Reduced -17.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 92.2k $7.3m | Added +1.3k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 90.5k $7.1m | First filing |
| Vest Financial, LLC 0.09% of their portfolio | 87.6k $6.9m | Added +24.1k |
| Janney Montgomery Scott LLC 0.01% of their portfolio | 79.3k $6.3m | Reduced -5.6k |
| Vestmark Advisory Solutions, Inc. 0.08% of their portfolio | 77.0k $6.1m | Added +14.2k |
| Candriam S.C.A. 0.03% of their portfolio | 76.9k $6.1m | Reduced -31.2k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 76.6k $6.0m | Added +62.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 74.1k $5.8m | Added +96 |
| Arrow Capital Management, LLC 3.36% of their portfolio | 73.2k $5.8m | First filing |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 67.6k $5.3m | Added +41.3k |