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 ($10.8m this quarter). Holder counts are more reliable. Shares outstanding: 328.9m as of 2024-10-10, 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 ≈ $57.12. Options: 51 managers hold calls ($1.9bn notional), 53 hold puts ($2.2bn).
Trends to Q3 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 508 |
| Q4 2022 | 578 |
| Q1 2023 | 603 |
| Q2 2023 | 647 |
| Q3 2023 | 624 |
| Q4 2023 | 631 |
| Q1 2024 | 636 |
| Q2 2024 | 671 |
| Q3 2024 | 654 |
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 |
| Q3 2023 | 256 | 305 |
| Q4 2023 | 241 | 309 |
| Q1 2024 | 304 | 286 |
| Q2 2024 | 300 | 284 |
| Q3 2024 | 281 | 335 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $823.1m | $2.2bn | 2.72 |
| Q1 2024 | $1.1bn | $2.0bn | 1.88 |
| Q2 2024 | $1.3bn | $1.9bn | 1.52 |
| Q3 2024 | $1.9bn | $2.2bn | 1.15 |
Biggest buyers
| Slate Path Capital LP | Added | +3.4m |
| Balyasny Asset Management L.P. | Added | +3.0m |
| Alyeska Investment Group, L.P. | Added | +3.0m |
| Castle Hook Partners LP | Added | +2.7m |
| SRS Investment Management, LLC | Added | +1.4m |
| MARSHALL WACE, LLP | Added | +1.4m |
| Wolf Hill Capital Management, LP | New | +1.4m |
| Capital International Investors | Added | +1.3m |
| D. E. Shaw & Co., Inc. | Added | +1.2m |
| Rubric Capital Management LP | New | +1.1m |
Biggest sellers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -3.3m |
| Capital World Investors | Reduced | -3.3m |
| MORGAN STANLEY | Reduced | -2.1m |
| NORGES BANK | Reduced | -1.2m |
| Cartenna Capital, LP | Sold out | -975.0k |
| U S GLOBAL INVESTORS INC | Reduced | -823.0k |
| Qube Research & Technologies Ltd | Sold out | -804.1k |
| Point72 Asset Management, L.P. | Reduced | -724.5k |
| Invesco Ltd. | Reduced | -697.9k |
| BARCLAYS PLC | Reduced | -648.5k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $330.1m5.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $245.0m4.3m shares |
| GOLDMAN SACHS GROUP INC | Added | $133.2m2.3m shares |
| Candlestick Capital Management LP | Added | $99.9m1.8m shares |
| IMC-Chicago, LLC | Added | $93.4m1.6m shares |
| JPMORGAN CHASE & CO | Reduced | $91.5m1.6m shares |
| BARCLAYS PLC | Reduced | $74.7m1.3m shares |
| SIMPLEX TRADING, LLC | Added | $74.1m1.3m shares |
| JANE STREET GROUP, LLC | Added | $63.0m1.1m shares |
| Wolf Hill Capital Management, LP | New | $57.1m1.0m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $322.1m5.6m shares |
| CITADEL ADVISORS LLC | Reduced | $298.8m5.2m shares |
| Parallax Volatility Advisers, L.P. | Added | $164.3m2.9m shares |
| D. E. Shaw & Co., Inc. | Added | $114.6m2.0m shares |
| BARCLAYS PLC | New | $106.7m1.9m shares |
| GOLDMAN SACHS GROUP INC | Added | $106.0m1.9m shares |
| JPMORGAN CHASE & CO | Reduced | $90.9m1.6m shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $82.5m1.4m shares |
| IMC-Chicago, LLC | Reduced | $74.0m1.3m shares |
| JANE STREET GROUP, LLC | Reduced | $66.4m1.2m 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 Q3 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 |
|---|---|---|---|---|---|
| Q4 2022 | 2 | $1.2m | 1 | $1.2m | — |
| Q1 2023 | 1 | $1.1m | 2 | $1.8m | — |
| Q2 2023 | 0 | — | 1 | $627.1k | — |
| Q3 2023 | 0 | — | 1 | $256.2k | — |
| Q4 2023 | 1 | $218.9k | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $1.5m | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 36.2m $2.1bn | Reduced -36.5k |
| PRIMECAP MANAGEMENT CO/CA/ 0.99% of their portfolio | 23.6m $1.3bn | Reduced -158.3k |
| Capital International Investors 0.22% of their portfolio | 20.0m $1.1bn | Added +1.3m |
| BlackRock, Inc. 0.02% of their portfolio | 18.4m $1.1bn | First filing |
| STATE STREET CORP 0.02% of their portfolio | 10.3m $588.9m | Added +78.5k |
| Sanders Capital, LLC 0.78% of their portfolio | 9.5m $539.6m | Added +1.0m |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 8.3m $477.5m | Added +168.5k |
| Capital World Investors 0.07% of their portfolio | 8.0m $456.3m | Reduced -3.3m |
| Invesco Ltd. 0.07% of their portfolio | 6.4m $364.8m | Reduced -697.9k |
| DIMENSIONAL FUND ADVISORS LP 0.08% of their portfolio | 5.5m $313.4m | Reduced -109.0k |
| Alyeska Investment Group, L.P. 1.58% of their portfolio | 5.4m $309.8m | Added +3.0m |
| Slate Path Capital LP 4.77% of their portfolio | 5.0m $284.4m | Added +3.4m |
| PAR CAPITAL MANAGEMENT INC 7.83% of their portfolio | 4.8m $276.2m | Added +282.0k |
| MORGAN STANLEY 0.02% of their portfolio | 4.3m $247.8m | Reduced -2.1m |
| FMR LLC 0.01% of their portfolio | 4.3m $242.7m | Reduced -45.1k |
| Castle Hook Partners LP 7.25% of their portfolio | 4.2m $242.2m | Added +2.7m |
| CITADEL ADVISORS LLC 0.23% of their portfolio | 3.9m $222.1m | Reduced -100.5k |
| Newport Trust Company, LLC 0.50% of their portfolio | 3.6m $206.6m | Reduced -43.2k |
| Balyasny Asset Management L.P. 0.50% of their portfolio | 3.4m $195.0m | Added +3.0m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 3.1m $177.6m | Added +908.6k |
| Candlestick Capital Management LP 7.10% of their portfolio | 3.0m $173.2m | Added +210.9k |
| LSV ASSET MANAGEMENT 0.36% of their portfolio | 2.9m $167.7m | Reduced -145.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.9m $167.4m | Added +1.1m |
| Amundi 0.06% of their portfolio | 2.6m $157.1m | Reduced -463.2k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.4m $135.1m | Reduced -185 |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 2.1m $121.2m | Reduced -625.2k |
| U S GLOBAL INVESTORS INC 11.30% of their portfolio | 2.1m $117.3m | Reduced -823.0k |
| SRS Investment Management, LLC 1.59% of their portfolio | 1.9m $106.5m | Added +1.4m |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.8m $104.4m | Reduced -332.7k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 1.7m $96.9m | Added +442.0k |
| GMT Capital Corp 3.66% of their portfolio | 1.6m $91.7m | Reduced -67.9k |
| Point72 Asset Management, L.P. 0.31% of their portfolio | 1.6m $89.6m | Reduced -724.5k |
| MARSHALL WACE, LLP 0.12% of their portfolio | 1.6m $88.7m | Added +1.4m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.5m $88.0m | Reduced -62.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.15% of their portfolio | 1.5m $86.6m | Reduced -3.3m |
| D. E. Shaw & Co., Inc. 0.11% of their portfolio | 1.5m $84.7m | Added +1.2m |
| RENAISSANCE TECHNOLOGIES LLC 0.12% of their portfolio | 1.4m $80.3m | Added +223.2k |
| Wolf Hill Capital Management, LP 7.39% of their portfolio | 1.4m $77.0m | New |
| Assenagon Asset Management S.A. 0.16% of their portfolio | 1.3m $75.6m | Added +847.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.2m $69.3m | Added +15.0k |
| JANE STREET GROUP, LLC 0.11% of their portfolio | 1.2m $66.8m | Added +574.7k |
| Rubric Capital Management LP 1.04% of their portfolio | 1.1m $63.5m | New |
| Senator Investment Group LP 2.81% of their portfolio | 1.0m $59.1m | Reduced -10.0k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 1.0m $58.3m | Added +496.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.0m $57.8m | Reduced -307.2k |
| Patient Capital Management, LLC 2.82% of their portfolio | 1.0m $57.4m | Added +12.1k |
| UBS Group AG 0.02% of their portfolio | 962.2k $54.9m | Reduced -222.2k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 907.7k $51.8m | Reduced -4.9k |
| NOMURA HOLDINGS INC 0.38% of their portfolio | 881.2k $50.3m | New |
| BARCLAYS PLC 0.02% of their portfolio | 865.3k $49.4m | Reduced -648.5k |
| Holocene Advisors, LP 0.19% of their portfolio | 822.9k $47.0m | Added +692.2k |
| Palestra Capital Management LLC 1.54% of their portfolio | 816.7k $46.6m | New |
| Walleye Trading LLC 1.05% of their portfolio | 768.8k $43.9m | Added +212.9k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 707.9k $40.4m | Reduced -342.3k |
| Allspring Global Investments Holdings, LLC 0.06% of their portfolio | 672.4k $38.4m | Reduced -3.5k |
| NORGES BANK 0.01% of their portfolio | 667.1k $38.1m | Reduced -1.2m |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 649.6k $37.1m | Added +299.3k |
| California Public Employees Retirement System 0.03% of their portfolio | 639.9k $36.5m | Added +26.7k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 607.5k $34.7m | Added +31.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 570.2k $32.5m | Added +117.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 559.8k $31.9m | Added +141.4k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 550.2k $31.4m | Added +61.5k |
| Avala Global LP 2.05% of their portfolio | 544.6k $31.1m | New |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 524.7k $29.9m | Reduced -17.2k |
| Legal & General Group Plc 0.01% of their portfolio | 516.1k $29.4m | Added +45.3k |
| Capital Group Private Client Services, Inc. 0.28% of their portfolio | 509.8k $29.1m | Reduced -17.5k |
| Retirement Systems of Alabama 0.11% of their portfolio | 509.1k $29.1m | Reduced -75.8k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 504.4k $28.8m | Reduced -88.8k |
| Douglas Lane & Associates, LLC 0.40% of their portfolio | 504.1k $28.8m | Reduced -4.6k |
| CITIGROUP INC 0.03% of their portfolio | 489.9k $28.0m | Added +42.6k |
| TOWLE & CO 3.87% of their portfolio | 475.4k $27.1m | Reduced -12.7k |
| DENDUR CAPITAL LP 3.83% of their portfolio | 472.0k $26.9m | Reduced -63.0k |
| J. Goldman & Co LP 1.14% of their portfolio | 461.4k $26.3m | Added +221.2k |
| Calamos Advisors LLC 0.12% of their portfolio | 430.0k $24.5m | Reduced -197.0k |
| Schonfeld Strategic Advisors LLC 0.18% of their portfolio | 387.3k $22.1m | Added +345.2k |
| COBALT CAPITAL MANAGEMENT, INC. 9.76% of their portfolio | 385.0k $22.0m | Added +135.0k |
| Anomaly Capital Management, LP 0.78% of their portfolio | 382.1k $21.8m | New |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.08% of their portfolio | 379.5k $21.7m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 378.2k $21.6m | Added +11.6k |
| Rockefeller Capital Management L.P. 0.06% of their portfolio | 374.5k $21.4m | Added +349.4k |
| Sculptor Capital LP 0.40% of their portfolio | 355.0k $20.3m | New |
| MACKENZIE FINANCIAL CORP 0.03% of their portfolio | 353.7k $20.2m | Added +81.0k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 346.6k $20.1m | Reduced -1.7k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 333.0k $19.0m | Reduced -102.7k |
| Walleye Capital LLC 0.20% of their portfolio | 327.0k $18.7m | Reduced -179.7k |
| STRS OHIO 0.07% of their portfolio | 326.0k $18.6m | Added +6.2k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 314.6k $18.0m | Added +168.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 313.7k $17.9m | Reduced -12.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 310.0k $17.7m | New |
| Jump Financial, LLC 0.35% of their portfolio | 301.2k $17.2m | Added +296.8k |
| Cannell & Spears LLC 0.33% of their portfolio | 293.0k $16.7m | New |
| HIGHLAND PEAK CAPITAL, LLC 10.57% of their portfolio | 286.1k $16.3m | New |
| PRUDENTIAL FINANCIAL INC 0.02% of their portfolio | 283.7k $16.2m | Reduced -59.5k |
| Appian Way Asset Management LP 3.62% of their portfolio | 282.4k $16.1m | Added +45.9k |
| Trexquant Investment LP 0.20% of their portfolio | 282.3k $16.1m | Reduced -279.1k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.03% of their portfolio | 276.9k $15.8m | Unchanged |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 266.3k $15.2m | Added +39.4k |
| State of Tennessee, Department of Treasury 0.05% of their portfolio | 256.7k $14.6m | Added +13.5k |
| Man Group plc 0.04% of their portfolio | 246.2k $14.0m | Reduced -382.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 234.6k $13.4m | Reduced -128.2k |