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 ($76.5m this quarter). Holder counts are more reliable. Shares outstanding: 324.6m as of 2026-04-16, 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 ≈ $92.08. Options: 55 managers hold calls ($3.8bn notional), 45 hold puts ($1.7bn).
Trends to Q1 2026
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 |
| Q4 2024 | 858 |
| Q1 2025 | 849 |
| Q2 2025 | 867 |
| Q3 2025 | 914 |
| Q4 2025 | 1,020 |
| Q1 2026 | 980 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 300 | 284 |
| Q3 2024 | 281 | 335 |
| Q4 2024 | 466 | 289 |
| Q1 2025 | 479 | 402 |
| Q2 2025 | 463 | 376 |
| Q3 2025 | 478 | 380 |
| Q4 2025 | 530 | 378 |
| Q1 2026 | 532 | 440 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $1.8bn | $2.2bn | 1.23 |
| Q3 2025 | $2.0bn | $2.3bn | 1.11 |
| Q4 2025 | $1.8bn | $2.6bn | 1.39 |
| Q1 2026 | $3.8bn | $1.7bn | 0.43 |
Biggest buyers
| Capital World Investors | Added | +3.8m |
| Balyasny Asset Management L.P. | Added | +2.0m |
| GOLDMAN SACHS GROUP INC | Added | +1.8m |
| Capital Research Global Investors | New | +1.3m |
| Slate Path Capital LP | Added | +1.2m |
| Boston Partners | Added | +1.2m |
| Caisse de depot et placement du Quebec | Added | +998.3k |
| Alyeska Investment Group, L.P. | Added | +991.3k |
| MORGAN STANLEY | Added | +905.5k |
| Man Group plc | Added | +839.1k |
Biggest sellers
| Capital International Investors | Reduced | -11.8m |
| Senator Investment Group LP | Reduced | -1.7m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -1.3m |
| BARCLAYS PLC | Reduced | -1.1m |
| Anomaly Capital Management, LP | Sold out | -1.0m |
| JANE STREET GROUP, LLC | Reduced | -1.0m |
| Pacer Advisors, Inc. | Reduced | -1.0m |
| AMERIPRISE FINANCIAL INC | Reduced | -804.7k |
| TWO SIGMA ADVISERS, LP | Sold out | -748.6k |
| Interval Partners, LP | Reduced | -740.5k |
Biggest calls
| Castle Hook Partners LP | New | $1.2bn125.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $526.3m5.7m shares |
| CITADEL ADVISORS LLC | Added | $501.3m5.4m shares |
| JANE STREET GROUP, LLC | Added | $285.3m3.1m shares |
| IMC-Chicago, LLC | Added | $231.1m2.5m shares |
| BARCLAYS PLC | Added | $153.1m1.7m shares |
| 140 Summer Partners LP | New | $125.4m1.4m shares |
| SIMPLEX TRADING, LLC | Added | $108.1m1.2m shares |
| GROUP ONE TRADING LLC | Added | $106.6m1.2m shares |
| BlackRock, Inc. | Added | $75.8m823.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $360.8m3.9m shares |
| CITADEL ADVISORS LLC | Reduced | $290.8m3.2m shares |
| JANE STREET GROUP, LLC | Added | $239.5m2.6m shares |
| IMC-Chicago, LLC | Added | $115.1m1.3m shares |
| Walleye Trading LLC | Reduced | $71.3m774.0k shares |
| BARCLAYS PLC | Reduced | $59.6m647.7k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $59.6m613.3k shares |
| D. E. Shaw & Co., Inc. | Reduced | $54.9m596.8k shares |
| JPMORGAN CHASE & CO | Reduced | $51.0m598.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $49.6m539.1k 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 2026
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 2024 | 0 | — | 1 | $1.5m | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 3 | $9.6m | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 6 | $12.1m | — |
| Q4 2025 | 0 | — | 1 | $12.9m | $12.9m |
| Q1 2026 | 0 | — | 1 | $2.0m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-02-02 | Hart Brett J President | Sold | $2.0m19.0k 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 2026
| Manager | Shares | Change |
|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 21.0m $1.9bn | First filing |
| BlackRock, Inc. 0.03% of their portfolio | 20.9m $1.9bn | Reduced -529.4k |
| FMR LLC 0.08% of their portfolio | 17.0m $1.6bn | Added +603.1k |
| PRIMECAP MANAGEMENT CO/CA/ 1.14% of their portfolio | 15.8m $1.5bn | Reduced -227.9k |
| Sanders Capital, LLC 1.67% of their portfolio | 15.2m $1.4bn | Added +21.7k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.07% of their portfolio | 14.1m $1.3bn | First filing |
| STATE STREET CORP 0.04% of their portfolio | 11.6m $1.1bn | Added +115.6k |
| Capital World Investors 0.14% of their portfolio | 11.1m $1.0bn | Added +3.8m |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 9.3m $865.4m | Added +291.4k |
| Capital International Investors 0.14% of their portfolio | 6.4m $592.7m | Reduced -11.8m |
| DIMENSIONAL FUND ADVISORS LP 0.11% of their portfolio | 5.7m $521.3m | Added +190.0k |
| PAR CAPITAL MANAGEMENT INC 13.38% of their portfolio | 5.0m $460.1m | Added +102.0k |
| GOLDMAN SACHS GROUP INC 0.06% of their portfolio | 4.8m $438.7m | Added +1.8m |
| MORGAN STANLEY 0.02% of their portfolio | 4.5m $413.0m | Added +905.5k |
| CITADEL ADVISORS LLC 0.27% of their portfolio | 4.1m $377.0m | Reduced -306.5k |
| Invesco Ltd. 0.04% of their portfolio | 3.9m $361.3m | Added +76.6k |
| AQR CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 3.7m $324.5m | Added +751.1k |
| Boston Partners 0.34% of their portfolio | 3.5m $323.8m | Added +1.2m |
| Newport Trust Company, LLC 0.73% of their portfolio | 3.2m $296.5m | Reduced -46.8k |
| Slate Path Capital LP 4.26% of their portfolio | 3.1m $286.6m | Added +1.2m |
| SRS Investment Management, LLC 2.83% of their portfolio | 2.9m $268.2m | Added +8.8k |
| UBS Group AG 0.04% of their portfolio | 2.7m $246.7m | Reduced -187.6k |
| LSV ASSET MANAGEMENT 0.51% of their portfolio | 2.6m $237.7m | Added +66.3k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 2.4m $224.1m | Reduced -27.2k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.2m $185.9m | Added +442.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 2.1m $196.9m | Added +74.7k |
| BARCLAYS PLC 0.07% of their portfolio | 2.0m $186.2m | Reduced -1.1m |
| Balyasny Asset Management L.P. 0.36% of their portfolio | 2.0m $181.6m | Added +2.0m |
| Qube Research & Technologies Ltd 0.25% of their portfolio | 1.9m $177.2m | Added +329.2k |
| Allianz Asset Management GmbH 0.20% of their portfolio | 1.9m $176.7m | Reduced -38.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 1.9m $173.2m | Added +460.8k |
| VANGUARD FIDUCIARY TRUST CO 0.04% of their portfolio | 1.8m $167.9m | First filing |
| Pacer Advisors, Inc. 0.45% of their portfolio | 1.7m $158.3m | Reduced -1.0m |
| Alyeska Investment Group, L.P. 0.44% of their portfolio | 1.7m $155.9m | Added +991.3k |
| Point72 Asset Management, L.P. 0.26% of their portfolio | 1.6m $150.4m | Reduced -157.9k |
| ASSETMARK, INC 0.30% of their portfolio | 1.6m $148.9m | Added +22.3k |
| LANSDOWNE PARTNERS (UK) LLP 7.55% of their portfolio | 1.5m $140.9m | Added +300.9k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 1.5m $140.0m | Added +255.5k |
| Senator Investment Group LP 6.04% of their portfolio | 1.4m $131.6m | Reduced -1.7m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.4m $128.4m | Added +22.9k |
| Capital Research Global Investors 0.02% of their portfolio | 1.3m $119.6m | New |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.14% of their portfolio | 1.3m $119.5m | Added +376.7k |
| Amundi 0.03% of their portfolio | 1.2m $112.1m | Added +487.5k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 1.2m $135.2m | Added +76.6k |
| TOMS Capital Investment Management LP 7.25% of their portfolio | 1.2m $110.3m | Reduced -102.6k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 1.1m $105.0m | Added +33.9k |
| Caisse de depot et placement du Quebec 0.16% of their portfolio | 1.1m $101.5m | Added +998.3k |
| Avala Global LP 4.76% of their portfolio | 1.1m $99.1m | Reduced -1.1k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.1m $97.6m | Reduced -412.6k |
| Russell Investments Group, Ltd. 0.10% of their portfolio | 997.5k $91.6m | Added +5.0k |
| MARSHALL WACE, LLP 0.10% of their portfolio | 979.6k $90.2m | Added +168.4k |
| GMT Capital Corp 4.07% of their portfolio | 968.7k $89.2m | Added +47.8k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 842.2k $77.5m | Reduced -804.7k |
| Nuveen, LLC 0.02% of their portfolio | 840.9k $77.4m | Reduced -687.4k |
| Man Group plc 0.16% of their portfolio | 840.1k $77.4m | Added +839.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 813.0k $74.8m | Added +35.0k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 796.1k $73.2m | Reduced -736.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.29% of their portfolio | 789.8k $72.7m | Reduced -255.7k |
| U S GLOBAL INVESTORS INC 8.42% of their portfolio | 784.6k $72.2m | Reduced -7.5k |
| Legal & General Group Plc 0.02% of their portfolio | 776.6k $71.5m | Reduced -5.4k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 767.5k $70.7m | Reduced -48.9k |
| Quantinno Capital Management LP 0.12% of their portfolio | 767.1k $70.6m | Added +152.7k |
| California Public Employees Retirement System 0.04% of their portfolio | 762.7k $70.2m | Added +63.3k |
| Patient Capital Management, LLC 2.51% of their portfolio | 732.0k $67.4m | Added +77.9k |
| Vanguard Global Advisers, LLC 0.04% of their portfolio | 712.3k $65.6m | First filing |
| JANE STREET GROUP, LLC 0.07% of their portfolio | 703.8k $64.8m | Reduced -1.0m |
| D. E. Shaw & Co., Inc. 0.05% of their portfolio | 694.5k $63.9m | Added +397.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 689.8k $63.5m | Added +299.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.25% of their portfolio | 669.4k $61.6m | Added +290.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.08% of their portfolio | 647.0k $59.6m | Added +92.0k |
| CITIGROUP INC 0.04% of their portfolio | 639.3k $58.9m | Added +162.0k |
| FEDERATED HERMES, INC. 0.09% of their portfolio | 627.7k $57.8m | Added +2.8k |
| Squarepoint Ops LLC 0.12% of their portfolio | 621.9k $57.3m | Added +191.8k |
| KBC Group NV 0.13% of their portfolio | 566.5k $52.2m | Added +81.5k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 564.0k $51.9m | Reduced -8.2k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 544.2k $50.1m | Added +1.2k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 536.0k $49.4m | Added +263.2k |
| Pentwater Capital Management LP 0.33% of their portfolio | 500.0k $46.0m | New |
| GLENVIEW CAPITAL MANAGEMENT, LLC 1.24% of their portfolio | 496.9k $45.7m | Reduced -14.4k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 473.7k $43.6m | Added +12.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 471.9k $43.5m | Added +24.3k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 463.6k $42.7m | Added +277.6k |
| BWCP, LP 6.36% of their portfolio | 452.9k $41.7m | Added +73.0k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 418.6k $38.5m | Added +42.1k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 406.1k $37.4m | Added +29.5k |
| Hudson Bay Capital Management LP 0.22% of their portfolio | 396.5k $36.5m | Reduced -22.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 383.3k $35.3m | Added +14.1k |
| Allspring Global Investments Holdings, LLC 0.06% of their portfolio | 380.0k $36.1m | Reduced -41.0k |
| Douglas Lane & Associates, LLC 0.50% of their portfolio | 376.7k $34.7m | Reduced -8.7k |
| Interval Partners, LP 1.17% of their portfolio | 368.9k $34.0m | Reduced -740.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 362.9k $33.4m | Added +3.0k |
| Assenagon Asset Management S.A. 0.05% of their portfolio | 352.7k $32.5m | Reduced -14.4k |
| Woodline Partners LP 0.12% of their portfolio | 332.7k $30.6m | Added +156.4k |
| CAPITAL FUND MANAGEMENT S.A. 0.26% of their portfolio | 317.1k $29.2m | Added +199.3k |
| SEB Asset Management AB 0.12% of their portfolio | 313.7k $28.9m | First filing |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 312.8k $28.8m | Added +100 |
| AustralianSuper Pty Ltd 0.15% of their portfolio | 308.5k $28.4m | Added +144.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 307.9k $28.3m | Added +123.6k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.10% of their portfolio | 294.1k $27.1m | New |
| Treasurer of the State of North Carolina 0.08% of their portfolio | 292.3k $26.9m | Added +17.9k |