UNDER ARMOUR INC UA
CL C · Common Stock · CUSIP 904311206 · ISIN US9043112062
American sports clothing and accessories company
- SectorConsumer discretionary
- IndustryApparel & Other Finishd Prods of Fabrics & Similar Matl
- HeadquartersBaltimore, MD
- Founded1996
- Websiteunderarmour.com
- FilingsSEC EDGAR
* 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 ($852.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $4.80. Options: 6 managers hold calls ($4.0m notional), 7 hold puts ($12.0m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 354 |
| Q4 2022 | 352 |
| Q1 2023 | 342 |
| Q2 2023 | 338 |
| Q3 2023 | 335 |
| Q4 2023 | 334 |
| Q1 2024 | 339 |
| Q2 2024 | 311 |
| Q3 2024 | 325 |
| Q4 2024 | 336 |
| Q1 2025 | 313 |
| Q2 2025 | 306 |
| Q3 2025 | 307 |
| Q4 2025 | 300 |
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 | 129 | 130 |
| Q2 2024 | 94 | 157 |
| Q3 2024 | 114 | 116 |
| Q4 2024 | 116 | 139 |
| Q1 2025 | 102 | 146 |
| Q2 2025 | 105 | 131 |
| Q3 2025 | 112 | 144 |
| Q4 2025 | 114 | 153 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $3.5m | $3.5m | 1.01 |
| Q2 2025 | $3.3m | $4.3m | 1.29 |
| Q3 2025 | $3.3m | $12.9m | 3.90 |
| Q4 2025 | $4.0m | $12.0m | 2.99 |
Biggest buyers
| FAIRFAX FINANCIAL HOLDINGS LTD/ CAN | New | +9.5m |
| BlackRock, Inc. | Added | +2.7m |
| JANE STREET GROUP, LLC | Added | +1.7m |
| PICTON MAHONEY ASSET MANAGEMENT | New | +833.1k |
| VANGUARD GROUP INC | Added | +831.2k |
| MARSHALL WACE, LLP | New | +767.6k |
| Quinn Opportunity Partners LLC | Added | +705.0k |
| D. E. Shaw & Co., Inc. | Added | +563.2k |
| Invesco Ltd. | Added | +513.7k |
| MORGAN STANLEY | Added | +422.3k |
Biggest sellers
| FIL Ltd | Reduced | -7.1m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Sold out | -3.6m |
| AMERICAN CENTURY COMPANIES INC | Reduced | -2.5m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.8m |
| UBS Group AG | Reduced | -1.5m |
| CITADEL ADVISORS LLC | Reduced | -690.7k |
| GMT Capital Corp | Sold out | -617.9k |
| Engineers Gate Manager LP | Reduced | -614.7k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -451.6k |
| FORMULA GROWTH LTD | Reduced | -400.0k |
Biggest calls
| GROUP ONE TRADING LLC | Added | $1.4m293.3k shares |
| UBS Group AG | Reduced | $1.4m291.6k shares |
| TORONTO DOMINION BANK | New | $576.9k97.7k shares |
| SIMPLEX TRADING, LLC | Added | $359.6k73.3k shares |
| JANE STREET GROUP, LLC | Added | $150.2k31.3k shares |
| Squarepoint Ops LLC | New | $121.9k25.4k shares |
Biggest puts
| SIMPLEX TRADING, LLC | Added | $8.2m1.7m shares |
| D. E. Shaw & Co., Inc. | Unchanged | $960.0k200.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $909.6k189.5k shares |
| JANE STREET GROUP, LLC | Added | $749.3k156.1k shares |
| CITADEL ADVISORS LLC | Added | $668.6k139.3k shares |
| IMC-Chicago, LLC | Reduced | $415.7k86.6k shares |
| GROUP ONE TRADING LLC | Reduced | $77.8k16.2k 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 +2.6 pts · filed 2026-07-08 | 10.9% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)
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 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 2 | $508.6k | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $100.2k | — |
| Q3 2025 | 4 | $1.5m | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-12-30 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $67.4m13.2m shares |
| 2025-12-29 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $11.6m2.5m shares |
| 2025-12-26 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $6.3m1.4m shares |
| 2025-12-24 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $6.0m1.3m shares |
| 2025-12-23 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $12.4m2.7m shares |
| 2025-12-22 | FAIRFAX FINANCIAL HOLDINGS LTD/ CAN +1 10% owner · See Footnote | Bought | $34.7m7.7m 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 |
|---|---|---|
| BDT CAPITAL PARTNERS, LLC 9.83% of their portfolio | 65.1m $312.2m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 16.7m $80.3m | Added +2.7m |
| VANGUARD GROUP INC 0.00% of their portfolio | 15.7m $75.5m | Added +831.2k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 10.8m $51.8m | Reduced -451.6k |
| FAIRFAX FINANCIAL HOLDINGS LTD/ CAN 2.18% of their portfolio | 9.5m $45.4m | New |
| STATE STREET CORP 0.00% of their portfolio | 4.5m $21.8m | Reduced -59.0k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 3.8m $18.1m | Added +100.1k |
| UBS Group AG 0.00% of their portfolio | 3.6m $17.1m | Reduced -1.5m |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 3.0m $14.6m | Added +563.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.6m $12.3m | Reduced -145.5k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 1.8m $8.7m | Added +1.7m |
| Quinn Opportunity Partners LLC 0.30% of their portfolio | 1.4m $6.8m | Added +705.0k |
| Invesco Ltd. 0.00% of their portfolio | 1.0m $4.8m | Added +513.7k |
| MORGAN STANLEY 0.00% of their portfolio | 960.2k $4.6m | Added +422.3k |
| PICTON MAHONEY ASSET MANAGEMENT 0.04% of their portfolio | 833.1k $4.0m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 783.4k $3.8m | Reduced -319.3k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 767.6k $3.7m | New |
| Bastion Asset Management Inc. 2.01% of their portfolio | 753.5k $3.6m | Added +350.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 705.9k $3.4m | Reduced -93.7k |
| NORGES BANK 0.00% of their portfolio | 621.1k $3.0m | Not comparable |
| FORMULA GROWTH LTD 1.11% of their portfolio | 600.0k $2.9m | Reduced -400.0k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 596.3k $2.9m | Reduced -1.8m |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 564.1k $2.7m | Added +291.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 540.8k $2.6m | Added +141.5k |
| XTX Topco Ltd 0.07% of their portfolio | 536.0k $2.6m | Added +232.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 412.8k $2.0m | Reduced -388.0k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 409.6k $2.0m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 373.0k $1.8m | Reduced -20.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 340.6k $1.6m | Reduced -50.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 333.1k $1.6m | Added +92.4k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 320.5k $1.5m | Reduced -2.5m |
| Legal & General Group Plc 0.00% of their portfolio | 293.3k $1.4m | Added +90.8k |
| SG Americas Securities, LLC 0.00% of their portfolio | 281.3k $1.4m | Reduced -35.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 275.9k $1.3m | Reduced -31.8k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 260.0k $1.2m | Reduced -690.7k |
| Summit Trail Advisors, LLC 0.02% of their portfolio | 259.3k $1.2m | Added +90.5k |
| Nuveen, LLC 0.00% of their portfolio | 258.0k $1.2m | Added +13.0k |
| Federation des caisses Desjardins du Quebec 0.00% of their portfolio | 255.5k $1.2m | Added +9.6k |
| CITIGROUP INC 0.00% of their portfolio | 253.6k $1.2m | Reduced -1.0k |
| Swiss National Bank 0.00% of their portfolio | 243.2k $1.2m | Reduced -13.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 228.1k $1.1m | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 211.7k $1.0m | Added +167.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 210.2k $1.0m | Added +3.1k |
| GM Advisory Group, LLC 0.04% of their portfolio | 203.0k $974.4k | Added +72.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 189.0k $907.3k | Reduced -269.3k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 183.5k $880.9k | Reduced -39.9k |
| Mariner, LLC 0.00% of their portfolio | 173.7k $833.9k | Added +106.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 165.4k $794.0k | Reduced -12.0k |
| IMC-Chicago, LLC 0.01% of their portfolio | 160.1k $768.5k | Reduced -69.9k |
| NewEdge Advisors, LLC 0.00% of their portfolio | 157.5k $680.2k | Added +155.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 144.7k $694.7k | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 143.3k $688.0k | Added +17.5k |
| Quantinno Capital Management LP 0.00% of their portfolio | 139.1k $667.5k | Reduced -30.5k |
| South Dakota Investment Council 0.01% of their portfolio | 124.2k $596.0k | Reduced -5.7k |
| JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio | 123.0k $590.4k | Added +87.0k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 122.3k $587.0k | Reduced -344.0k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.04% of their portfolio | 120.6k $578.8k | New |
| ClearAlpha Technologies LP 1.61% of their portfolio | 117.2k $562.3k | Reduced -72.1k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 114.4k $548.9k | Added +95.0k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 105.1k $504.5k | Added +22.2k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 102.6k $492.0k | Added +15.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 100.4k $481.7k | Reduced -28.7k |
| SIMPLEX TRADING, LLC 0.01% of their portfolio | 96.4k $462.7k | Reduced -5.5k |
| Values First Advisors, Inc. 0.22% of their portfolio | 90.0k $432.1k | Reduced -23.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 88.8k $427.0k | Added +21 |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 82.5k $395.8k | Unchanged |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 81.6k $392.0k | Added +53.5k |
| Treasurer of the State of North Carolina 0.00% of their portfolio | 78.3k $376.0k | Reduced -93.8k |
| Freestone Grove Partners LP 0.00% of their portfolio | 77.7k $372.9k | Unchanged |
| AXQ CAPITAL, LP 0.08% of their portfolio | 75.0k $360.1k | Reduced -11.3k |
| Integrated Advisors Network LLC 0.02% of their portfolio | 72.5k $347.8k | Added +1.9k |
| PharVision Advisers, LLC 0.17% of their portfolio | 70.1k $336.3k | Added +45.4k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 66.2k $318.2k | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 64.8k $311.0k | Reduced -23.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 63.4k $304.2k | Reduced -4.7k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 63.2k $303.5k | Unchanged |
| State of Alaska, Department of Revenue 0.00% of their portfolio | 60.3k $289.0k | Added +47.0k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 56.2k $269.8k | Reduced -1.4k |
| Louisiana State Employees Retirement System 0.00% of their portfolio | 54.2k $260.2k | Added +20.4k |
| SHERBROOKE PARK ADVISERS LLC 0.66% of their portfolio | 53.1k $254.9k | Reduced -9.8k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 52.7k $253.1k | New |
| GUGGENHEIM CAPITAL LLC 0.00% of their portfolio | 51.9k $249.0k | Added +38.4k |
| BARCLAYS PLC 0.00% of their portfolio | 50.1k $240.6k | Reduced -96.8k |
| LPL Financial LLC 0.00% of their portfolio | 47.6k $228.7k | Reduced -22.1k |
| TWO SIGMA SECURITIES, LLC 0.03% of their portfolio | 47.6k $228.3k | Added +30.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 47.1k $226.0k | Reduced -76.9k |
| Creative Planning 0.00% of their portfolio | 45.5k $218.5k | Added +13.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 42.4k $203.7k | Reduced -40.3k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 41.7k $200.3k | Reduced -99.6k |
| Alpine Global Management, LLC 0.04% of their portfolio | 40.6k $195.0k | New |
| AMALGAMATED BANK 0.00% of their portfolio | 39.8k $191.0k | Reduced -19.7k |
| Gotham Asset Management, LLC 0.00% of their portfolio | 38.3k $184.0k | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 37.8k $205.3k | Added +7.0k |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 37.5k $211.2k | Reduced -7.4k |
| MAI Capital Management 0.00% of their portfolio | 36.5k $175.0k | Added +836 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 35.7k $171.2k | Reduced -3.6k |
| Wedmont Private Capital 0.01% of their portfolio | 35.5k $195.0k | New |
| Handelsbanken Fonder AB 0.00% of their portfolio | 35.4k $170.0k | Unchanged |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 34.4k $164.9k | Reduced -4.7k |
| Farringdon Capital, Ltd. 0.04% of their portfolio | 34.2k $164.0k | New |