UNION PAC CORP UNP
COM · Common Stock · CUSIP 907818108 · ISIN US9078181081
American railroad 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 ($380.6m this quarter). Holder counts are more reliable. Shares outstanding: 604.3m as of 2025-01-31, 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 ≈ $228.09. Options: 48 managers hold calls ($1.2bn notional), 45 hold puts ($914.0m).
Trends to Q4 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,329 |
| Q4 2022 | 2,420 |
| Q1 2023 | 2,379 |
| Q2 2023 | 2,417 |
| Q3 2023 | 2,403 |
| Q4 2023 | 2,581 |
| Q1 2024 | 2,617 |
| Q2 2024 | 2,574 |
| Q3 2024 | 2,616 |
| Q4 2024 | 2,701 |
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 2023 | 1,065 | 1,072 |
| Q2 2023 | 1,018 | 1,084 |
| Q3 2023 | 1,001 | 1,106 |
| Q4 2023 | 1,118 | 1,053 |
| Q1 2024 | 1,097 | 1,162 |
| Q2 2024 | 1,131 | 1,143 |
| Q3 2024 | 1,168 | 1,084 |
| Q4 2024 | 1,088 | 1,168 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $1.4bn | $916.9m | 0.66 |
| Q2 2024 | $1.1bn | $746.3m | 0.67 |
| Q3 2024 | $1.2bn | $1.2bn | 0.99 |
| Q4 2024 | $1.2bn | $914.0m | 0.75 |
Biggest buyers
| MACKENZIE FINANCIAL CORP | Added | +2.7m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.6m |
| BlackRock, Inc. | Added | +1.6m |
| Capital Research Global Investors | Added | +1.3m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +1.3m |
| Brookfield Corp /ON/ | New | +1.3m |
| Point72 Asset Management, L.P. | New | +1.1m |
| NORTHERN TRUST CORP | Added | +920.4k |
| Vontobel Holding Ltd. | Added | +918.2k |
| BNP PARIBAS FINANCIAL MARKETS | Added | +819.8k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -6.4m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -3.1m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.6m |
| Capital International Investors | Reduced | -1.6m |
| MARSHALL WACE, LLP | Reduced | -1.2m |
| Capital World Investors | Reduced | -1.1m |
| Meritage Group LP | Sold out | -1.1m |
| AMERIPRISE FINANCIAL INC | Reduced | -1.0m |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | Reduced | -892.7k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -841.2k |
Biggest calls
| Twin Tree Management, LP | Added | $199.6m875.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $134.8m591.0k shares |
| CITADEL ADVISORS LLC | Reduced | $118.8m520.8k shares |
| JANE STREET GROUP, LLC | Reduced | $114.7m502.9k shares |
| UBS Group AG | Added | $88.0m385.9k shares |
| BANK OF AMERICA CORP /DE/ | Added | $76.7m336.3k shares |
| JPMORGAN CHASE & CO | Added | $61.9m271.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $55.8m244.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $52.9m232.0k shares |
| IMC-Chicago, LLC | Added | $47.4m207.9k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $113.4m497.1k shares |
| CITADEL ADVISORS LLC | Added | $94.6m414.8k shares |
| BANK OF AMERICA CORP /DE/ | Added | $65.8m288.6k shares |
| CITIGROUP INC | Added | $57.4m251.6k shares |
| Eisler Capital Management Ltd. | First filing | $55.7m242.9k shares |
| IMC-Chicago, LLC | Reduced | $52.3m229.4k shares |
| UBS Group AG | Added | $49.1m215.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $48.2m211.4k shares |
| JANE STREET GROUP, LLC | Reduced | $43.1m189.2k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $39.0m170.9k 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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
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 2024
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 2023 | 0 | — | 1 | $532.5k | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 2 | $2.2m | — |
| Q4 2023 | 1 | $999.0k | 2 | $493.9k | — |
| Q1 2024 | 0 | — | 1 | $1.9m | $1.9m |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 1 | $875.9k | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.23% of their portfolio | 59.0m $13.4bn | Added +113.3k |
| BlackRock, Inc. 0.21% of their portfolio | 45.0m $10.3bn | Added +1.6m |
| STATE STREET CORP 0.23% of their portfolio | 25.3m $5.8bn | Added +502.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.25% of their portfolio | 14.4m $3.3bn | Added +1.6m |
| JPMORGAN CHASE & CO 0.19% of their portfolio | 10.7m $2.4bn | Reduced -6.4m |
| Capital Research Global Investors 0.49% of their portfolio | 10.4m $2.4bn | Added +1.3m |
| BANK OF AMERICA CORP /DE/ 0.22% of their portfolio | 10.2m $2.3bn | Reduced -1.6m |
| MORGAN STANLEY 0.16% of their portfolio | 9.7m $2.2bn | Reduced -16.2k |
| Capital International Investors 0.37% of their portfolio | 8.7m $2.0bn | Reduced -1.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.62% of their portfolio | 8.6m $2.0bn | Reduced -495.6k |
| NORGES BANK 0.25% of their portfolio | 8.5m $1.9bn | Added +477.0k |
| AMERIPRISE FINANCIAL INC 0.46% of their portfolio | 7.9m $1.8bn | Reduced -1.0m |
| FRANKLIN RESOURCES INC 0.49% of their portfolio | 7.7m $1.8bn | Added +363.9k |
| NORTHERN TRUST CORP 0.22% of their portfolio | 7.0m $1.6bn | Added +920.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.17% of their portfolio | 6.6m $1.5bn | Added +105.1k |
| Invesco Ltd. 0.27% of their portfolio | 6.4m $1.5bn | Added +285.4k |
| Fisher Asset Management, LLC 0.57% of their portfolio | 6.3m $1.4bn | Added +20.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.24% of their portfolio | 5.8m $1.3bn | Reduced -841.2k |
| ROYAL BANK OF CANADA 0.25% of their portfolio | 5.0m $1.1bn | Added +90.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.26% of their portfolio | 5.0m $1.1bn | Added +1.3m |
| FMR LLC 0.07% of their portfolio | 4.9m $1.1bn | Reduced -103.8k |
| UBS Group AG 0.25% of their portfolio | 4.8m $1.1bn | Added +43.0k |
| Bank of New York Mellon Corp 0.20% of their portfolio | 4.8m $1.1bn | Added +119.0k |
| Clearbridge Investments, LLC 0.86% of their portfolio | 4.6m $1.1bn | Added +397.2k |
| RAYMOND JAMES FINANCIAL INC 0.38% of their portfolio | 4.5m $1.0bn | First filing |
| Legal & General Group Plc 0.27% of their portfolio | 4.5m $1.0bn | Reduced -195.2k |
| Nuveen Asset Management, LLC 0.28% of their portfolio | 4.4m $997.1m | Added +89.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.91% of their portfolio | 4.2m $951.7m | Added +33.4k |
| Amundi 0.32% of their portfolio | 4.0m $925.5m | Added +237.3k |
| MACKENZIE FINANCIAL CORP 0.41% of their portfolio | 4.0m $901.9m | Added +2.7m |
| Capital World Investors 0.13% of their portfolio | 3.8m $870.9m | Reduced -1.1m |
| DEUTSCHE BANK AG\ 0.33% of their portfolio | 3.7m $838.0m | Added +203.1k |
| WELLS FARGO & COMPANY/MN 0.20% of their portfolio | 3.7m $835.3m | Added +5.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.15% of their portfolio | 3.7m $835.3m | Added +100.8k |
| DIMENSIONAL FUND ADVISORS LP 0.19% of their portfolio | 3.5m $789.3m | Added +55.0k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.63% of their portfolio | 3.0m $688.2m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.13% of their portfolio | 3.0m $677.9m | Reduced -697.5k |
| Fayez Sarofim & Co 1.60% of their portfolio | 2.9m $658.1m | Reduced -81.1k |
| NEUBERGER BERMAN GROUP LLC 0.46% of their portfolio | 2.5m $577.0m | Reduced -596.4k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.45% of their portfolio | 2.4m $558.0m | Added +3.3k |
| STIFEL FINANCIAL CORP 0.55% of their portfolio | 2.3m $531.0m | Added +36.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.17% of their portfolio | 2.3m $516.0m | Added +92.1k |
| Vontobel Holding Ltd. 1.68% of their portfolio | 2.1m $489.6m | Added +918.2k |
| Baird Financial Group, Inc. 0.84% of their portfolio | 1.9m $438.5m | Added +24.1k |
| Diamond Hill Capital Management, LLC (Investment Advisor) 1.90% of their portfolio | 1.9m $431.2m | Added +74.3k |
| Swiss National Bank 0.26% of their portfolio | 1.7m $392.5m | Reduced -90.0k |
| CIBC Private Wealth Group LLC 0.66% of their portfolio | 1.6m $363.5m | Reduced -53.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.27% of their portfolio | 1.6m $354.9m | Added +819.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.37% of their portfolio | 1.6m $353.5m | Reduced -13.6k |
| PRIMECAP MANAGEMENT CO/CA/ 0.26% of their portfolio | 1.5m $341.4m | Reduced -107.7k |
| BANK OF MONTREAL /CAN/ 0.16% of their portfolio | 1.4m $321.4m | Reduced -99.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.28% of their portfolio | 1.4m $320.9m | Reduced -58.1k |
| PNC Financial Services Group, Inc. 0.21% of their portfolio | 1.4m $316.8m | Reduced -63.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.21% of their portfolio | 1.4m $316.4m | Added +25.8k |
| Soroban Capital Partners LP 4.06% of their portfolio | 1.3m $302.9m | Unchanged |
| HSBC HOLDINGS PLC 0.19% of their portfolio | 1.3m $302.1m | Reduced -7.2k |
| TD Asset Management Inc 0.27% of their portfolio | 1.3m $300.2m | Added +53.2k |
| California Public Employees Retirement System 0.20% of their portfolio | 1.3m $293.2m | Reduced -49.7k |
| Brookfield Corp /ON/ 0.89% of their portfolio | 1.3m $292.4m | New |
| RHUMBLINE ADVISERS 0.25% of their portfolio | 1.2m $284.5m | Reduced -11.4k |
| Assenagon Asset Management S.A. 0.50% of their portfolio | 1.2m $279.6m | Added +323.5k |
| AMERICAN CENTURY COMPANIES INC 0.16% of their portfolio | 1.2m $270.1m | Reduced -28.7k |
| National Pension Service 0.25% of their portfolio | 1.2m $265.3m | Added +57.4k |
| Epoch Investment Partners, Inc. 1.27% of their portfolio | 1.2m $262.8m | Added +86.4k |
| KING LUTHER CAPITAL MANAGEMENT CORP 1.11% of their portfolio | 1.1m $256.4m | Reduced -5.5k |
| LPL Financial LLC 0.10% of their portfolio | 1.1m $256.0m | Added +51.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.26% of their portfolio | 1.1m $247.7m | Reduced -3.1m |
| Cercano Management LLC 6.22% of their portfolio | 1.1m $244.0m | Unchanged |
| Point72 Asset Management, L.P. 0.67% of their portfolio | 1.1m $243.9m | New |
| Mitsubishi UFJ Trust & Banking Corp 0.57% of their portfolio | 1.1m $240.9m | Reduced -614.5k |
| ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio | 1.1m $239.5m | Reduced -85.6k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.49% of their portfolio | 1.0m $233.0m | Added +54.8k |
| FIRST TRUST ADVISORS LP 0.20% of their portfolio | 1.0m $232.2m | Added +774.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.22% of their portfolio | 996.1k $230.6m | Added +93.1k |
| ClearBridge Investments Ltd 5.91% of their portfolio | 988.5k $225.4m | Added +26.5k |
| COHEN & STEERS, INC. 0.42% of their portfolio | 983.3k $224.2m | Added +139.8k |
| TRUIST FINANCIAL CORP 0.34% of their portfolio | 942.2k $214.9m | Added +101 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.25% of their portfolio | 927.2k $211.4m | Reduced -55.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.11% of their portfolio | 880.5k $200.8m | Reduced -47.5k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 1.22% of their portfolio | 860.7k $196.3m | Reduced -4.8k |
| BARCLAYS PLC 0.10% of their portfolio | 850.6k $194.0m | Reduced -656.7k |
| Public Sector Pension Investment Board 0.82% of their portfolio | 850.3k $193.9m | Added +96.0k |
| Robeco Institutional Asset Management B.V. 0.36% of their portfolio | 839.7k $191.5m | Added +294.2k |
| US BANCORP \DE\ 0.25% of their portfolio | 826.6k $188.5m | Reduced -12.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.33% of their portfolio | 822.0k $187.5m | Added +126.7k |
| OMERS ADMINISTRATION Corp 1.63% of their portfolio | 815.1k $185.9m | Added +2.3k |
| Ensign Peak Advisors, Inc 0.32% of their portfolio | 800.9k $182.6m | Added +4.5k |
| JENNISON ASSOCIATES LLC 0.11% of their portfolio | 799.8k $182.4m | Added +63.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.24% of their portfolio | 774.3k $176.6m | Reduced -8.0k |
| FIL Ltd 0.15% of their portfolio | 696.2k $158.8m | Reduced -161.2k |
| BRIDGES INVESTMENT MANAGEMENT INC 2.20% of their portfolio | 688.8k $157.1m | Reduced -8.9k |
| CITIGROUP INC 0.15% of their portfolio | 672.3k $153.3m | Added +85.6k |
| Squarepoint Ops LLC 0.37% of their portfolio | 637.0k $145.3m | Added +479.2k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.14% of their portfolio | 631.9k $144.1m | Reduced -17.0k |
| Impax Asset Management Group plc 0.64% of their portfolio | 622.8k $142.0m | Added +76.6k |
| Mariner, LLC 0.24% of their portfolio | 621.2k $141.6m | Added +22.5k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 616.9k $140.7m | Reduced -206.0k |
| FIFTH THIRD BANCORP 0.51% of their portfolio | 611.2k $139.4m | Reduced -1.0k |
| 1832 Asset Management L.P. 0.25% of their portfolio | 611.1k $139.3m | Reduced -28.5k |
| HighTower Advisors, LLC 0.19% of their portfolio | 609.6k $139.0m | Added +19.0k |