ULTA BEAUTY INC ULTA
COM · Common Stock · CUSIP 90384S303 · ISIN US90384S3031
American chain of beauty stores
* 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 ($81.4m this quarter). Holder counts are more reliable. Shares outstanding: 44.4m as of 2025-12-01, 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 ≈ $601.28. Options: 31 managers hold calls ($966.8m notional), 32 hold puts ($1.2bn).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 928 |
| Q4 2022 | 970 |
| Q1 2023 | 1,039 |
| Q2 2023 | 1,031 |
| Q3 2023 | 992 |
| Q4 2023 | 1,049 |
| Q1 2024 | 1,069 |
| Q2 2024 | 1,015 |
| Q3 2024 | 976 |
| Q4 2024 | 1,003 |
| Q1 2025 | 957 |
| Q2 2025 | 1,036 |
| Q3 2025 | 1,067 |
| Q4 2025 | 1,125 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 503 | 488 |
| Q2 2024 | 522 | 525 |
| Q3 2024 | 446 | 529 |
| Q4 2024 | 410 | 532 |
| Q1 2025 | 426 | 493 |
| Q2 2025 | 494 | 467 |
| Q3 2025 | 484 | 483 |
| Q4 2025 | 464 | 492 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $1.4bn | $807.3m | 0.58 |
| Q2 2025 | $740.0m | $960.3m | 1.30 |
| Q3 2025 | $820.9m | $949.6m | 1.16 |
| Q4 2025 | $966.8m | $1.2bn | 1.21 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +640.6k |
| AGF MANAGEMENT LTD | Added | +349.1k |
| Squarepoint Ops LLC | Added | +245.5k |
| GOLDMAN SACHS GROUP INC | Added | +236.9k |
| Corient Private Wealth LP | Added | +232.2k |
| 1832 Asset Management L.P. | Added | +226.5k |
| D. E. Shaw & Co., Inc. | Added | +218.8k |
| HSBC HOLDINGS PLC | Added | +152.0k |
| BlackRock, Inc. | Added | +114.2k |
| Rathbones Group PLC | Added | +109.2k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -1.4m |
| Holocene Advisors, LP | Reduced | -359.5k |
| CITADEL ADVISORS LLC | Reduced | -307.4k |
| DEUTSCHE BANK AG\ | Reduced | -224.9k |
| Interval Partners, LP | Reduced | -173.7k |
| MORGAN STANLEY | Reduced | -166.7k |
| BANK OF AMERICA CORP /DE/ | Reduced | -156.0k |
| Alecta Tjanstepension Omsesidigt | Reduced | -130.4k |
| Candlestick Capital Management LP | Sold out | -130.1k |
| Rakuten Investment Management, Inc. | Reduced | -125.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $300.8m497.1k shares |
| CITADEL ADVISORS LLC | Reduced | $172.1m284.4k shares |
| IMC-Chicago, LLC | Added | $127.3m210.4k shares |
| JANE STREET GROUP, LLC | Added | $70.8m117.1k shares |
| UBS Group AG | Added | $62.6m103.5k shares |
| Walleye Trading LLC | Added | $41.6m68.8k shares |
| BARCLAYS PLC | Unchanged | $33.3m55.1k shares |
| SIMPLEX TRADING, LLC | Added | $25.9m42.8k shares |
| Squarepoint Ops LLC | Added | $21.8m36.0k shares |
| Qube Research & Technologies Ltd | Reduced | $18.9m31.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $407.1m672.9k shares |
| IMC-Chicago, LLC | Added | $142.1m234.8k shares |
| CITADEL ADVISORS LLC | Reduced | $118.9m196.6k shares |
| UBS Group AG | Added | $102.7m169.7k shares |
| JANE STREET GROUP, LLC | Added | $67.3m111.3k shares |
| BARCLAYS PLC | Reduced | $58.9m97.3k shares |
| Walleye Trading LLC | Added | $47.9m79.2k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $28.6m47.2k shares |
| Balyasny Asset Management L.P. | Added | $26.8m44.3k shares |
| Qube Research & Technologies Ltd | Added | $23.9m39.5k 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 |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-07-17 | 8.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.6% |
| Sanders Capital, LLC 13G · institution new · filed 2026-08-04 | 5.7% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
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 | — | 3 | $12.9m | — |
| Q2 2024 | 0 | — | 2 | $407.2k | — |
| Q3 2024 | 0 | — | 1 | $39.0k | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $499.5k | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $333.0k | — |
| Q3 2025 | 0 | — | 1 | $264.2k | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 5.4m $3.3bn | Added +23.4k |
| BlackRock, Inc. 0.04% of their portfolio | 4.1m $2.5bn | Added +114.2k |
| STATE STREET CORP 0.04% of their portfolio | 2.0m $1.2bn | Added +50.3k |
| T. Rowe Price Investment Management, Inc. 0.39% of their portfolio | 1.6m $975.5m | Added +640.6k |
| Sanders Capital, LLC 0.88% of their portfolio | 1.3m $764.6m | Reduced -84 |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 1.2m $747.6m | Added +21.9k |
| MORGAN STANLEY 0.04% of their portfolio | 1.1m $659.8m | Reduced -166.7k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 1.1m $639.7m | Reduced -1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio | 991.1k $599.6m | Reduced -72.3k |
| Invesco Ltd. 0.05% of their portfolio | 864.6k $523.1m | Added +24.2k |
| NORGES BANK 0.05% of their portfolio | 712.3k $431.0m | Not comparable |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 647.4k $391.7m | Added +21.3k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 586.5k $354.8m | Reduced -156.0k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 574.9k $347.8m | Reduced -16.5k |
| Swedbank AB 0.33% of their portfolio | 557.3k $337.2m | Reduced -24.2k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 520.3k $314.8m | Added +236.9k |
| MARSHALL WACE, LLP 0.28% of their portfolio | 478.7k $289.6m | Added +24.5k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 476.5k $288.3m | Reduced -34.4k |
| Amundi 0.08% of their portfolio | 469.7k $284.2m | Added +25.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 451.7k $273.3m | Reduced -31.1k |
| Alyeska Investment Group, L.P. 0.69% of their portfolio | 405.6k $245.4m | Reduced -51.0k |
| TD Asset Management Inc 0.20% of their portfolio | 404.2k $244.6m | Reduced -28.3k |
| Legal & General Group Plc 0.05% of their portfolio | 369.2k $223.3m | Reduced -282 |
| AGF MANAGEMENT LTD 0.94% of their portfolio | 356.3k $215.6m | Added +349.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 348.0k $210.5m | Added +8.4k |
| UBS Group AG 0.04% of their portfolio | 341.9k $206.8m | Added +2.1k |
| Alecta Tjanstepension Omsesidigt 0.85% of their portfolio | 320.1k $193.7m | Reduced -130.4k |
| Caisse de depot et placement du Quebec 0.32% of their portfolio | 313.3k $189.5m | Added +17.4k |
| AQR CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 298.2k $180.2m | Reduced -134 |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 292.7k $177.2m | Added +152.0k |
| Epoch Investment Partners, Inc. 1.00% of their portfolio | 291.9k $176.6m | Reduced -14.1k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 289.6k $175.2m | Added +36.0k |
| Robeco Institutional Asset Management B.V. 0.23% of their portfolio | 271.7k $164.4m | Added +58.7k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 268.7k $162.6m | Reduced -224.9k |
| Nuveen, LLC 0.04% of their portfolio | 268.5k $162.4m | Added +90.4k |
| Squarepoint Ops LLC 0.32% of their portfolio | 264.2k $159.9m | Added +245.5k |
| Corient Private Wealth LP 0.01% of their portfolio | 244.1k $15.8m | Added +232.2k |
| Pictet Asset Management Holding SA 0.14% of their portfolio | 237.0k $143.4m | Added +7.4k |
| 1832 Asset Management L.P. 0.18% of their portfolio | 231.6k $140.1m | Added +226.5k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 231.0k $139.7m | Reduced -13.5k |
| BARCLAYS PLC 0.05% of their portfolio | 225.6k $136.5m | Reduced -50.8k |
| D. E. Shaw & Co., Inc. 0.10% of their portfolio | 223.2k $135.0m | Added +218.8k |
| FEDERATED HERMES, INC. 0.22% of their portfolio | 217.1k $131.3m | Reduced -6.1k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.21% of their portfolio | 211.3k $128.1m | Reduced -15.9k |
| DekaBank Deutsche Girozentrale 0.16% of their portfolio | 209.4k $94.1m | Unchanged |
| Rathbones Group PLC 0.25% of their portfolio | 206.4k $124.9m | Added +109.2k |
| SUMMITRY LLC 5.11% of their portfolio | 202.9k $122.7m | Added +1.3k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 184.0k $111.3m | Reduced -29.1k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 183.6k $111.1m | Added +6.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.11% of their portfolio | 160.2k $96.9m | Added +41.4k |
| Andra AP-fonden 1.16% of their portfolio | 154.6k $93.5m | Reduced -74.2k |
| Thrivent Financial for Lutherans 0.17% of their portfolio | 154.4k $93.4m | Reduced -3.7k |
| EARNEST PARTNERS LLC 0.38% of their portfolio | 146.5k $88.6m | Reduced -19.4k |
| Smead Capital Management, Inc. 1.80% of their portfolio | 143.5k $86.8m | Reduced -9.9k |
| Russell Investments Group, Ltd. 0.09% of their portfolio | 142.9k $86.5m | Added +14.0k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.30% of their portfolio | 138.4k $83.7m | Added +4.5k |
| Quantinno Capital Management LP 0.16% of their portfolio | 134.8k $81.5m | Added +6.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio | 131.8k $79.7m | Added +15.2k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 126.5k $76.5m | Reduced -35.8k |
| Swiss National Bank 0.04% of their portfolio | 122.9k $74.4m | Reduced -6.6k |
| Allspring Global Investments Holdings, LLC 0.12% of their portfolio | 121.1k $75.1m | Reduced -18.4k |
| BANK OF MONTREAL /CAN/ 0.03% of their portfolio | 118.5k $71.7m | Reduced -10.1k |
| Qube Research & Technologies Ltd 0.10% of their portfolio | 115.5k $69.9m | Added +109.1k |
| GLENMEDE TRUST CO NA 0.32% of their portfolio | 111.8k $67.6m | First filing |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 109.1k $66.0m | Reduced -3.8k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 107.7k $65.2m | Reduced -307.4k |
| AMI ASSET MANAGEMENT CORP 3.68% of their portfolio | 107.3k $64.9m | Reduced -2.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 106.0k $64.1m | Added +15.1k |
| Zuckerman Investment Group, LLC 5.72% of their portfolio | 105.9k $64.0m | Added +711 |
| HUNTINGTON NATIONAL BANK 0.38% of their portfolio | 104.1k $63.0m | Added +12.4k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 101.9k $61.6m | Reduced -61.4k |
| Zurich Insurance Group Ltd/FI 0.43% of their portfolio | 101.6k $61.5m | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 101.5k $62.9m | Added +2.8k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 95.6k $57.8m | Reduced -12.2k |
| Shellback Capital, LP 5.28% of their portfolio | 91.5k $55.4m | Reduced -35.3k |
| EFG International AG 1.03% of their portfolio | 87.7k $53.1m | First filing |
| OSSIAM 1.05% of their portfolio | 86.7k $52.5m | Added +4.9k |
| Gotham Asset Management, LLC 0.19% of their portfolio | 86.4k $52.3m | Added +13.3k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 85.1k $51.5m | Added +49.7k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 84.6k $51.2m | Reduced -3.3k |
| CITIGROUP INC 0.03% of their portfolio | 83.5k $50.5m | Added +46.2k |
| California Public Employees Retirement System 0.03% of their portfolio | 82.7k $50.0m | Reduced -5.2k |
| BRIDGES INVESTMENT MANAGEMENT INC 0.62% of their portfolio | 81.0k $49.0m | Added +89 |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.29% of their portfolio | 80.2k $48.5m | Reduced -3.8k |
| National Pension Service 0.04% of their portfolio | 79.5k $48.1m | Added +76.6k |
| SEI INVESTMENTS CO 0.05% of their portfolio | 76.5k $46.3m | Added +28.6k |
| Allianz Asset Management GmbH 0.05% of their portfolio | 74.9k $45.3m | Added +742 |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 73.8k $44.6m | Added +7.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 69.9k $42.3m | Reduced -201 |
| LPL Financial LLC 0.01% of their portfolio | 65.6k $39.7m | Reduced -6.1k |
| RENAISSANCE GROUP LLC 1.56% of their portfolio | 64.3k $38.9m | Reduced -1.9k |
| Carnegie Investment Counsel 0.71% of their portfolio | 63.7k $38.6m | Reduced -239 |
| HighTower Advisors, LLC 0.04% of their portfolio | 63.6k $38.5m | Reduced -7.7k |
| Freestone Grove Partners LP 0.27% of their portfolio | 62.3k $37.7m | Added +29.4k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 61.6k $37.3m | Reduced -8.6k |
| PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio | 61.4k $37.2m | Reduced -510 |
| AVIVA PLC 0.06% of their portfolio | 61.4k $37.1m | Added +24.7k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 61.3k $37.1m | Reduced -2.6k |
| DANSKE BANK A/S 0.08% of their portfolio | 60.3k $36.5m | Added +1.3k |
| AMF Tjanstepension AB 0.23% of their portfolio | 60.1k $36.4m | Reduced -32.7k |