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 ($20.3m this quarter). Holder counts are more reliable. Shares outstanding: 328.0m as of 2023-07-13, 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 ≈ $54.84. Options: 45 managers hold calls ($1.1bn notional), 51 hold puts ($2.4bn).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 508 |
| Q4 2022 | 578 |
| Q1 2023 | 603 |
| Q2 2023 | 647 |
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 |
| Q2 2023 | 288 | 268 |
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 |
| Q2 2023 | $1.1bn | $2.4bn | 2.17 |
Biggest buyers
| CITADEL ADVISORS LLC | Added | +2.8m |
| BlackRock Inc. | Added | +1.8m |
| Man Group plc | New | +1.7m |
| Patient Capital Management, LLC | Added | +977.6k |
| Balyasny Asset Management L.P. | Added | +934.6k |
| Qube Research & Technologies Ltd | Added | +883.5k |
| LSV ASSET MANAGEMENT | Added | +751.8k |
| AQR CAPITAL MANAGEMENT LLC | Added | +660.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +570.1k |
| CITIGROUP INC | Added | +546.5k |
Biggest sellers
| FMR LLC | Reduced | -6.6m |
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -2.0m |
| Man Group plc | Sold out | -1.4m |
| Point72 Asset Management, L.P. | Reduced | -1.3m |
| MARSHALL WACE, LLP | Reduced | -1.2m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -1.1m |
| Miller Value Partners, LLC | Sold out | -991.8k |
| STRS OHIO | Reduced | -781.8k |
| Candlestick Capital Management LP | Sold out | -719.8k |
| U S GLOBAL INVESTORS INC | Reduced | -467.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $198.3m3.6m shares |
| CITADEL ADVISORS LLC | Added | $171.0m3.1m shares |
| JANE STREET GROUP, LLC | Added | $117.3m2.1m shares |
| CITIGROUP INC | Added | $116.5m2.1m shares |
| Twin Tree Management, LP | Reduced | $77.9m1.4m shares |
| BlackRock Inc. | Reduced | $60.9m1.1m shares |
| SIMPLEX TRADING, LLC | Added | $55.1m1.0m shares |
| IMC-Chicago, LLC | Reduced | $38.2m696.1k shares |
| WOLVERINE TRADING, LLC | Added | $29.5m549.4k shares |
| Capital Markets Trading UK LLP | Added | $28.8m524.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $303.7m5.5m shares |
| CITADEL ADVISORS LLC | Reduced | $289.6m5.3m shares |
| Saba Capital Management, L.P. | Added | $165.0m3.0m shares |
| Parallax Volatility Advisers, L.P. | Added | $163.9m3.0m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $162.3m3.0m shares |
| NOMURA HOLDINGS INC | Added | $146.2m2.7m shares |
| UBS Group AG | Added | $125.5m2.3m shares |
| SIMPLEX TRADING, LLC | Reduced | $109.8m2.0m shares |
| Twin Tree Management, LP | Added | $109.1m2.0m shares |
| CITIGROUP INC | Added | $77.0m1.4m 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — |
| Q2 2023 | 0 | — | 1 | $627.1k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-06-15 | Hart Gregory L EVP & Chief Growth Officer | Sold | $627.1k12.0k 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, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 37.8m $2.1bn | Reduced -173.2k |
| PRIMECAP MANAGEMENT CO/CA/ 1.08% of their portfolio | 23.6m $1.3bn | Reduced -342.8k |
| Capital International Investors 0.27% of their portfolio | 20.7m $1.1bn | Added +255.9k |
| BlackRock Inc. 0.03% of their portfolio | 18.6m $1.0bn | Added +1.8m |
| Capital World Investors 0.13% of their portfolio | 11.9m $654.6m | Added +1.7k |
| STATE STREET CORP 0.03% of their portfolio | 10.1m $553.5m | Added +221.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 7.2m $393.0m | Added +153.7k |
| FMR LLC 0.03% of their portfolio | 6.6m $361.5m | Reduced -6.6m |
| CITADEL ADVISORS LLC 0.30% of their portfolio | 5.0m $272.4m | Added +2.8m |
| Newport Trust Company, LLC 0.62% of their portfolio | 3.8m $211.2m | Reduced -46.4k |
| MORGAN STANLEY 0.02% of their portfolio | 3.8m $208.1m | Added +420.6k |
| Invesco Ltd. 0.05% of their portfolio | 3.8m $206.6m | Added +8.7k |
| LSV ASSET MANAGEMENT 0.43% of their portfolio | 3.5m $194.5m | Added +751.8k |
| U S GLOBAL INVESTORS INC 11.49% of their portfolio | 3.5m $193.7m | Reduced -467.2k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 2.6m $143.6m | Added +387.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 2.6m $140.1m | Reduced -5.8k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.3m $127.6m | Reduced -84.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 2.2m $120.6m | Added +570.1k |
| GMT Capital Corp 4.52% of their portfolio | 2.2m $119.5m | Reduced -36.8k |
| PAR CAPITAL MANAGEMENT INC 3.96% of their portfolio | 2.1m $113.8m | Reduced -126.8k |
| Qube Research & Technologies Ltd 0.44% of their portfolio | 2.1m $113.7m | Added +883.5k |
| JANE STREET GROUP, LLC 0.14% of their portfolio | 1.9m $105.6m | Added +454.4k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.9m $102.6m | Added +308.4k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.9m $102.0m | Reduced -7.3k |
| AQR CAPITAL MANAGEMENT LLC 0.20% of their portfolio | 1.8m $95.4m | Added +660.0k |
| Man Group plc 0.30% of their portfolio | 1.7m $95.8m | New |
| CITIGROUP INC 0.12% of their portfolio | 1.6m $90.4m | Added +546.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.13% of their portfolio | 1.6m $89.7m | Added +226.5k |
| UBS Group AG 0.04% of their portfolio | 1.5m $81.0m | Added +425.2k |
| PRUDENTIAL FINANCIAL INC 0.11% of their portfolio | 1.4m $78.3m | Added +458.1k |
| Walleye Trading LLC 3.70% of their portfolio | 1.3m $70.8m | Added +392.5k |
| Patient Capital Management, LLC 3.39% of their portfolio | 1.1m $61.0m | Added +977.6k |
| NORGES BANK 0.01% of their portfolio | 1.0m $57.2m | Reduced -138.2k |
| PANAGORA ASSET MANAGEMENT INC 0.31% of their portfolio | 966.1k $53.0m | Added +403.9k |
| Balyasny Asset Management L.P. 0.15% of their portfolio | 952.0k $52.2m | Added +934.6k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 929.1k $51.0m | Reduced -16.0k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 875.3k $48.0m | Reduced -193.0k |
| Capital Group Private Client Services, Inc. 0.51% of their portfolio | 795.1k $43.6m | Added +5.4k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 763.3k $41.9m | Added +308.8k |
| BARCLAYS PLC 0.03% of their portfolio | 707.5k $38.8m | Added +1.2k |
| FEDERATED HERMES, INC. 0.09% of their portfolio | 687.7k $37.7m | Added +14.4k |
| GROUP ONE TRADING LLC 1.61% of their portfolio | 684.6k $37.6m | Added +117.4k |
| Calamos Advisors LLC 0.18% of their portfolio | 654.5k $35.9m | Added +161.8k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 637.3k $35.0m | Reduced -9.8k |
| California Public Employees Retirement System 0.03% of their portfolio | 626.8k $34.4m | Reduced -21.4k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 603.4k $33.1m | Reduced -7.4k |
| Legal & General Group Plc 0.01% of their portfolio | 579.4k $31.8m | Added +21.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 533.6k $29.3m | Added +194.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.46% of their portfolio | 532.8k $29.2m | Added +70.1k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 504.2k $27.7m | Added +193.4k |
| MARSHALL WACE, LLP 0.06% of their portfolio | 504.1k $27.7m | Reduced -1.2m |
| Douglas Lane & Associates, LLC 0.42% of their portfolio | 476.7k $26.2m | Added +22.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio | 466.7k $25.6m | Added +392.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 456.6k $25.1m | Reduced -212.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 438.1k $24.0m | Reduced -2.0m |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 417.4k $22.9m | Reduced -215.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 413.1k $22.7m | Reduced -203.0k |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 395.7k $21.8m | Added +26.2k |
| STRS OHIO 0.09% of their portfolio | 393.9k $21.6m | Reduced -781.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 376.5k $20.7m | Reduced -24.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.05% of their portfolio | 365.3k $20.0m | Reduced -2.8k |
| Amundi 0.01% of their portfolio | 364.9k $20.1m | Added +167.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 364.6k $20.0m | Reduced -116.1k |
| Cubist Systematic Strategies, LLC 0.22% of their portfolio | 358.6k $19.7m | Added +348.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 337.0k $18.5m | Added +133.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 331.0k $18.2m | Reduced -25.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 326.8k $17.9m | Reduced -500 |
| ExodusPoint Capital Management, LP 0.21% of their portfolio | 325.4k $17.9m | Added +183.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 290.5k $15.9m | Reduced -8.7k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 288.5k $15.8m | Added +2.9k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 283.6k $15.5m | Reduced -22.2k |
| CLEAR STREET LLC 0.34% of their portfolio | 261.2k $14.3m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 254.2k $14.0m | Added +4.6k |
| Schonfeld Strategic Advisors LLC 0.12% of their portfolio | 250.9k $13.8m | Added +237.3k |
| Capital International, Inc./CA/ 0.25% of their portfolio | 248.5k $13.6m | Reduced -10.6k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 244.9k $13.4m | Added +18.7k |
| AXA S.A. 0.04% of their portfolio | 239.4k $13.1m | Reduced -49.6k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 236.7k $13.0m | Reduced -787 |
| Ensign Peak Advisors, Inc 0.03% of their portfolio | 234.7k $12.9m | Unchanged |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 233.5k $12.8m | Reduced -3.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 233.3k $12.8m | Added +5.3k |
| CAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD. 0.62% of their portfolio | 226.3k $12.4m | Unchanged |
| Jump Financial, LLC 0.46% of their portfolio | 225.0k $12.3m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 212.1k $9.4m | Unchanged |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 210.8k $11.6m | Added +9.1k |
| MERCER GLOBAL ADVISORS INC /ADV 0.05% of their portfolio | 207.7k $11.4m | Added +39.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 198.1k $10.9m | Reduced -7.0k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 190.9k $10.5m | Added +172.3k |
| Squarepoint Ops LLC 0.06% of their portfolio | 190.6k $10.5m | Reduced -82.5k |
| TORONTO DOMINION BANK 0.01% of their portfolio | 188.9k $10.4m | Added +118.2k |
| Chevy Chase Trust Holdings, LLC 0.04% of their portfolio | 188.7k $10.4m | Reduced -1.3k |
| EAGLE ASSET MANAGEMENT INC 0.06% of their portfolio | 188.5k $10.3m | Added +13.7k |
| GATEWAY INVESTMENT ADVISERS LLC 0.12% of their portfolio | 183.5k $10.1m | Reduced -33 |
| CIBC WORLD MARKET INC. 0.03% of their portfolio | 173.3k $9.5m | Added +77.6k |
| Sonic GP LLC 6.29% of their portfolio | 171.8k $9.4m | Unchanged |
| ClariVest Asset Management LLC 0.47% of their portfolio | 169.6k $9.3m | Reduced -31.7k |
| LPL Financial LLC 0.01% of their portfolio | 160.6k $8.8m | Added +9.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 155.5k $8.5m | Reduced -17.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 152.6k $8.4m | Added +17.7k |
| Creative Planning 0.01% of their portfolio | 151.8k $8.3m | Added +22.0k |