UNITED AIRLS HLDGS INC UAL
COM · Common Stock · CUSIP 910047109 · ISIN US9100471096
- SectorIndustrials
- IndustryAir Transportation, Scheduled
- HeadquartersChicago, IL
- Founded1968
- Websiteir.united.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 ($17.6m this quarter). Holder counts are more reliable. Shares outstanding: 328.0m as of 2023-04-13, 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 ≈ $44.19. Options: 42 managers hold calls ($872.5m notional), 46 hold puts ($1.9bn).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 508 |
| Q4 2022 | 578 |
| Q1 2023 | 603 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 282 | 199 |
| Q1 2023 | 279 | 269 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $873.2m | $1.4bn | 1.56 |
| Q4 2022 | $1.0bn | $1.6bn | 1.58 |
| Q1 2023 | $872.5m | $1.9bn | 2.18 |
Biggest buyers
| Capital World Investors | New | +11.9m |
| Capital International Investors | Added | +8.4m |
| FMR LLC | Added | +8.2m |
| ENVESTNET ASSET MANAGEMENT INC | Added | +2.3m |
| GMT Capital Corp | New | +2.2m |
| MARSHALL WACE, LLP | New | +1.7m |
| CITADEL ADVISORS LLC | Added | +1.6m |
| Man Group plc | New | +1.4m |
| VANGUARD GROUP INC | Added | +789.7k |
| STRS OHIO | Added | +780.2k |
Biggest sellers
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -4.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -3.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.6m |
| Man Group plc | Sold out | -1.5m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.5m |
| U S GLOBAL INVESTORS INC | Reduced | -1.2m |
| Cubist Systematic Strategies, LLC | Reduced | -1.2m |
| Parallax Volatility Advisers, L.P. | Reduced | -986.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -947.4k |
| NEUBERGER BERMAN GROUP LLC | Reduced | -945.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $135.5m3.1m shares |
| CITADEL ADVISORS LLC | Reduced | $113.7m2.6m shares |
| Twin Tree Management, LP | Added | $83.6m1.9m shares |
| JANE STREET GROUP, LLC | Reduced | $82.9m1.9m shares |
| BlackRock Inc. | New | $74.7m1.7m shares |
| CITIGROUP INC | Added | $64.0m1.4m shares |
| IMC-Chicago, LLC | Reduced | $47.4m1.1m shares |
| SIMPLEX TRADING, LLC | Reduced | $40.9m924.9k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $28.2m637.9k shares |
| Capital Markets Trading UK LLP | Reduced | $20.9m471.2k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $253.9m5.7m shares |
| CITADEL ADVISORS LLC | Added | $253.6m5.7m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $182.9m4.1m shares |
| NOMURA HOLDINGS INC | Added | $113.4m2.6m shares |
| JANE STREET GROUP, LLC | Added | $96.1m2.2m shares |
| SIMPLEX TRADING, LLC | Added | $95.4m2.2m shares |
| UBS Group AG | Reduced | $92.4m2.1m shares |
| Twin Tree Management, LP | Added | $87.5m2.0m shares |
| Parallax Volatility Advisers, L.P. | Reduced | $80.3m1.8m shares |
| Saba Capital Management, L.P. | New | $69.1m1.6m 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 | 7.3% |
Fell to 5% or below in the last year: Capital International Investors (2.0%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), PRIMECAP MANAGEMENT CO/CA/ (4.9%, 2026-02-11), FMR LLC (5.0%, 2026-02-05)
Insider purchases and sales in Q1 2023
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 |
|---|---|---|---|---|---|
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 1 | $4.1m | 3 | $1.4m | — |
| Q3 2022 | 1 | $1.8m | 1 | $544.3k | — |
| Q4 2022 | 2 | $1.2m | 1 | $1.2m | — |
| Q1 2023 | 1 | $1.1m | 2 | $1.8m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-03-15 | SHAPIRO EDWARD Director | Bought | $1.1m25.0k shares |
| 2023-02-10 | KENNY CHRIS Vice President & Controller | Sold | $783.0k16.0k shares |
| 2023-02-06 | Hart Gregory L EVP & Chief Growth Officer | Sold | $1.0m20.0k 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, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 37.9m $1.7bn | Added +789.7k |
| PRIMECAP MANAGEMENT CO/CA/ 0.92% of their portfolio | 23.9m $1.1bn | Reduced -165.0k |
| Capital International Investors 0.23% of their portfolio | 20.4m $904.2m | Added +8.4m |
| BlackRock Inc. 0.02% of their portfolio | 16.8m $741.5m | Reduced -453.5k |
| FMR LLC 0.03% of their portfolio | 13.1m $581.7m | Added +8.2m |
| Capital World Investors 0.11% of their portfolio | 11.9m $527.8m | New |
| STATE STREET CORP 0.02% of their portfolio | 9.9m $436.6m | Reduced -246.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 7.0m $310.2m | Added +146.8k |
| U S GLOBAL INVESTORS INC 11.47% of their portfolio | 4.0m $176.9m | Reduced -1.2m |
| Newport Trust Company, LLC 0.48% of their portfolio | 3.9m $172.4m | Reduced -55.2k |
| Invesco Ltd. 0.05% of their portfolio | 3.8m $166.2m | Reduced -371.4k |
| MORGAN STANLEY 0.02% of their portfolio | 3.4m $149.2m | Reduced -336.5k |
| LSV ASSET MANAGEMENT 0.28% of their portfolio | 2.8m $123.6m | Reduced -174.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 2.6m $113.2m | Added +568 |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 2.5m $16.2m | Added +2.3m |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.4m $106.6m | Reduced -34.6k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 2.2m $98.7m | Added +731.4k |
| GMT Capital Corp 3.84% of their portfolio | 2.2m $98.0m | New |
| PAR CAPITAL MANAGEMENT INC 3.58% of their portfolio | 2.2m $97.4m | Reduced -99.8k |
| CITADEL ADVISORS LLC 0.11% of their portfolio | 2.2m $96.7m | Added +1.6m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.9m $82.6m | Added +24.6k |
| MARSHALL WACE, LLP 0.18% of their portfolio | 1.7m $74.7m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.6m $72.0m | Reduced -947.4k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.6m $69.1m | Reduced -163.7k |
| JANE STREET GROUP, LLC 0.11% of their portfolio | 1.5m $65.0m | Added +762.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio | 1.4m $62.3m | Reduced -4.6m |
| Man Group plc 0.22% of their portfolio | 1.4m $61.7m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.09% of their portfolio | 1.3m $56.0m | Added +190.7k |
| Point72 Asset Management, L.P. 0.20% of their portfolio | 1.3m $55.6m | Added +610.4k |
| Qube Research & Technologies Ltd 0.30% of their portfolio | 1.2m $52.6m | Reduced -191.9k |
| NORGES BANK 0.01% of their portfolio | 1.2m $52.2m | Added +440.2k |
| STRS OHIO 0.08% of their portfolio | 1.2m $52.0m | Added +780.2k |
| CITIGROUP INC 0.07% of their portfolio | 1.1m $48.7m | Added +34.7k |
| AQR CAPITAL MANAGEMENT LLC 0.11% of their portfolio | 1.1m $48.3m | Added +769.6k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 1.1m $47.3m | Reduced -2.6m |
| UBS Group AG 0.02% of their portfolio | 1.1m $46.5m | Reduced -293.7k |
| Miller Value Partners, LLC 2.74% of their portfolio | 991.8k $43.9m | Reduced -10.1k |
| PRUDENTIAL FINANCIAL INC 0.07% of their portfolio | 968.1k $42.8m | Added +21.2k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 945.2k $41.8m | Added +42.2k |
| Walleye Trading LLC 1.41% of their portfolio | 898.4k $39.8m | Added +437.7k |
| Capital Group Private Client Services, Inc. 0.43% of their portfolio | 789.7k $34.9m | Added +347.8k |
| Candlestick Capital Management LP 1.07% of their portfolio | 719.8k $31.8m | New |
| BARCLAYS PLC 0.03% of their portfolio | 706.3k $31.3m | Reduced -185.5k |
| FEDERATED HERMES, INC. 0.07% of their portfolio | 673.3k $29.8m | Added +517.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 668.8k $29.6m | Reduced -624.7k |
| California Public Employees Retirement System 0.03% of their portfolio | 648.2k $28.7m | Reduced -81.2k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 647.1k $28.7m | Reduced -313.7k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 633.2k $28.0m | Reduced -284.9k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 616.1k $27.3m | Added +217.4k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 610.8k $27.0m | Added +8.8k |
| GROUP ONE TRADING LLC 1.19% of their portfolio | 567.2k $25.1m | Reduced -94.7k |
| PANAGORA ASSET MANAGEMENT INC 0.16% of their portfolio | 562.2k $24.9m | Added +124.2k |
| Legal & General Group Plc 0.01% of their portfolio | 558.4k $24.7m | Added +8.3k |
| Calamos Advisors LLC 0.11% of their portfolio | 492.8k $21.8m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 480.7k $21.3m | Reduced -442.6k |
| CAPITAL FUND MANAGEMENT S.A. 0.40% of their portfolio | 462.8k $20.5m | Added +383.0k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 454.5k $20.1m | New |
| Douglas Lane & Associates, LLC 0.33% of their portfolio | 454.3k $20.1m | Reduced -4.8k |
| NATIONAL BANK OF CANADA /FI/ 0.05% of their portfolio | 405.0k $17.9m | Added +207.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 400.5k $17.7m | Added +7.9k |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 369.6k $16.4m | Added +122.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 368.2k $16.3m | Reduced -438 |
| Quadrature Capital Ltd 0.43% of their portfolio | 356.7k $15.8m | Added +107.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 356.4k $15.8m | Reduced -4.2k |
| JUPITER ASSET MANAGEMENT LTD 0.21% of their portfolio | 340.3k $15.1m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 339.4k $15.0m | Reduced -94.9k |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.18% of their portfolio | 330.6k $14.6m | Added +242.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 327.3k $14.5m | Reduced -5.2k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 310.8k $13.8m | Added +187.6k |
| TWO SIGMA ADVISERS, LP 0.04% of their portfolio | 310.1k $13.7m | Reduced -245.4k |
| Harel Insurance Investments & Financial Services Ltd. 0.28% of their portfolio | 306.2k $13.5m | New |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 305.9k $13.5m | Reduced -141.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 299.3k $13.2m | Reduced -62.0k |
| AXA S.A. 0.04% of their portfolio | 289.0k $12.8m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 285.6k $12.6m | Reduced -8.0k |
| Squarepoint Ops LLC 0.09% of their portfolio | 273.0k $12.1m | Reduced -317.4k |
| Capital International, Inc./CA/ 0.23% of their portfolio | 259.1k $11.5m | Added +14.3k |
| Twin Tree Management, LP 0.32% of their portfolio | 253.6k $11.2m | Added +228.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 249.6k $11.0m | Reduced -26.4k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 237.4k $10.5m | Added +70.1k |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 237.3k $10.5m | Reduced -42.3k |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 234.7k $10.4m | Added +221.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 228.0k $10.1m | Reduced -13.0k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 226.3k $10.0m | Reduced -62.7k |
| CAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD. 0.54% of their portfolio | 226.3k $10.0m | Reduced -123.4k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 222.8k $9.9m | Added +161.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 212.1k $9.4m | Reduced -2.8k |
| Pacer Advisors, Inc. 0.04% of their portfolio | 206.6k $9.1m | Added +200.7k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 205.1k $9.1m | Added +37.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 203.4k $9.0m | Added +29.5k |
| State of Tennessee, Department of Treasury 0.04% of their portfolio | 201.7k $8.9m | Added +57.6k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 201.7k $8.9m | Added +1.4k |
| ClariVest Asset Management LLC 0.40% of their portfolio | 201.3k $8.9m | Reduced -6.6k |
| Amundi 0.00% of their portfolio | 197.0k $8.3m | Reduced -301.2k |
| Chevy Chase Trust Holdings, LLC 0.03% of their portfolio | 190.0k $8.4m | Added +1.9k |
| GATEWAY INVESTMENT ADVISERS LLC 0.10% of their portfolio | 183.5k $8.1m | Reduced -13.3k |
| Aquatic Capital Management LLC 0.50% of their portfolio | 183.4k $8.1m | Reduced -33.4k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 183.0k $8.1m | Reduced -186.2k |
| COBALT CAPITAL MANAGEMENT, INC. 2.82% of their portfolio | 175.0k $7.7m | New |
| EAGLE ASSET MANAGEMENT INC 0.05% of their portfolio | 174.8k $7.7m | Added +4.6k |