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 ($174.3m this quarter). Holder counts are more reliable. Shares outstanding: 324.6m as of 2026-07-09, 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 ≈ $135.52. Options: 41 managers hold calls ($2.7bn notional), 43 hold puts ($2.8bn).
Trends to Q2 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 |
| Q2 2026 | 1,068 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2026 | 557 | 445 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $2.0bn | $2.3bn | 1.11 |
| Q4 2025 | $1.8bn | $2.6bn | 1.39 |
| Q1 2026 | $3.8bn | $1.7bn | 0.43 |
| Q2 2026 | $2.7bn | $2.8bn | 1.04 |
Biggest buyers
| FMR LLC | Added | +2.5m |
| Capital Research Global Investors | Added | +1.6m |
| BlackRock, Inc. | Added | +1.5m |
| D. E. Shaw & Co., Inc. | Added | +1.5m |
| JANE STREET GROUP, LLC | Added | +1.4m |
| JPMORGAN CHASE & CO | Added | +1.4m |
| Holocene Advisors, LP | New | +1.3m |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Added | +983.5k |
| PointState Capital LP | New | +889.5k |
| Castle Hook Partners LP | New | +882.2k |
Biggest sellers
| GOLDMAN SACHS GROUP INC | Reduced | -1.3m |
| Qube Research & Technologies Ltd | Reduced | -1.2m |
| TOMS Capital Investment Management LP | Sold out | -1.2m |
| BARCLAYS PLC | Reduced | -1.2m |
| UBS Group AG | Reduced | -1.2m |
| Caisse de depot et placement du Quebec | Reduced | -1.1m |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -1.0m |
| Alyeska Investment Group, L.P. | Reduced | -901.8k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Reduced | -787.4k |
| Squarepoint Ops LLC | Reduced | -587.3k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $1.1bn8.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $408.7m3.0m shares |
| CITADEL ADVISORS LLC | Reduced | $295.3m2.2m shares |
| IMC-Chicago, LLC | Reduced | $191.5m1.4m shares |
| UBS Group AG | Added | $135.4m996.0k shares |
| Walleye Trading LLC | Added | $94.4m694.2k shares |
| GROUP ONE TRADING LLC | Reduced | $66.5m488.9k shares |
| BlackRock, Inc. | Reduced | $65.9m484.3k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $39.1m287.7k shares |
| Capital Markets Trading UK LLP | Added | $37.0m272.3k shares |
Biggest puts
| JPMORGAN CHASE & CO | Added | $630.7m4.7m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $617.2m4.5m shares |
| JANE STREET GROUP, LLC | Added | $385.4m2.8m shares |
| CITADEL ADVISORS LLC | Reduced | $328.1m2.4m shares |
| IMC-Chicago, LLC | Reduced | $167.3m1.2m shares |
| Walleye Trading LLC | Added | $131.1m963.8k shares |
| Parallax Volatility Advisers, L.P. | Added | $88.8m653.1k shares |
| D. E. Shaw & Co., Inc. | Reduced | $71.1m523.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $42.8m314.5k shares |
| BARCLAYS PLC | Reduced | $39.3m288.9k 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 | 7.3% |
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 since 1 Apr 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 |
|---|---|---|---|---|---|
| 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 | — |
| Q2 2026 | 0 | — | 3 | $10.8m | $6.0m |
| Q3 2026 | 0 | — | 5 | $27.6m | $1.3m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-25 | Nocella Andrew P EVP & Chief Commercial Officer | Sold | $585.0k5.0k shares |
| 2026-08-04 | Nocella Andrew P EVP & Chief Commercial Officer | Sold | $396.9k3.0k shares |
| 2026-08-03 | Leskinen Michael D. EVP & Chief Financial Officer | Sold plan | $1.3m10.0k shares |
| 2026-07-28 | Hart Brett J President | Sold | $3.6m30.1k shares |
| 2026-07-28 | Nocella Andrew P EVP & Chief Commercial Officer | Sold | $506.0k4.2k shares |
| 2026-07-24 | Enqvist Torbjorn J EVP & Chief Operations Officer | Sold | $2.4m20.0k shares |
| 2026-07-21 | KIRBY J SCOTT Chief Executive Officer, director | Sold | $18.8m159.3k shares |
| 2026-06-16 | KIRBY J SCOTT Chief Executive Officer, director | Sold plan | $130.2k1.1k shares |
| 2026-06-15 | KIRBY J SCOTT Chief Executive Officer, director | Sold plan | $5.9m48.3k shares |
| 2026-05-26 | Gebo Kate EVP HR and Labor Relations | Sold | $3.7m34.7k shares |
| 2026-05-26 | Gebo Kate EVP HR and Labor Relations | Sold | $562.5k5.3k shares |
| 2026-05-01 | Nocella Andrew P EVP & Chief Commercial Officer | Sold | $631.3k7.0k 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 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.05% of their portfolio | 22.4m $3.1bn | Added +1.5m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 21.0m $2.9bn | Added +22.9k |
| FMR LLC 0.11% of their portfolio | 19.5m $2.6bn | Added +2.5m |
| PRIMECAP MANAGEMENT CO/CA/ 1.32% of their portfolio | 16.5m $2.2bn | Added +711.0k |
| Sanders Capital, LLC 2.05% of their portfolio | 15.0m $2.0bn | Reduced -176.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.09% of their portfolio | 14.2m $1.9bn | Added +95.0k |
| STATE STREET CORP 0.05% of their portfolio | 11.8m $1.6bn | Added +162.3k |
| Capital World Investors 0.18% of their portfolio | 11.4m $1.5bn | Added +241.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio | 9.5m $1.3bn | Added +232.2k |
| Capital International Investors 0.18% of their portfolio | 6.2m $849.6m | Reduced -191.2k |
| DIMENSIONAL FUND ADVISORS LP 0.13% of their portfolio | 5.4m $732.4m | Reduced -278.6k |
| PAR CAPITAL MANAGEMENT INC 18.08% of their portfolio | 5.4m $728.9m | Added +362.9k |
| Boston Partners 0.53% of their portfolio | 4.4m $591.4m | Added +862.9k |
| CITADEL ADVISORS LLC 0.34% of their portfolio | 4.3m $589.0m | Added +236.4k |
| MORGAN STANLEY 0.03% of their portfolio | 4.0m $550.6m | Reduced -436.8k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 3.6m $489.4m | Added +1.4m |
| Invesco Ltd. 0.04% of their portfolio | 3.5m $473.5m | Reduced -442.6k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 3.4m $468.5m | Reduced -1.3m |
| Slate Path Capital LP 6.26% of their portfolio | 3.3m $452.2m | Added +212.4k |
| Newport Trust Company, LLC 1.03% of their portfolio | 3.1m $427.3m | Reduced -78.0k |
| SRS Investment Management, LLC 3.75% of their portfolio | 2.9m $400.2m | Added +30.2k |
| Capital Research Global Investors 0.05% of their portfolio | 2.9m $388.8m | Added +1.6m |
| LSV ASSET MANAGEMENT 0.67% of their portfolio | 2.7m $371.9m | Added +153.3k |
| AQR CAPITAL MANAGEMENT LLC 0.12% of their portfolio | 2.6m $357.8m | Reduced -1.0m |
| NORTHERN TRUST CORP 0.04% of their portfolio | 2.4m $330.9m | Reduced -341 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 2.2m $298.8m | Added +316.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 2.2m $293.6m | Added +20.1k |
| D. E. Shaw & Co., Inc. 0.18% of their portfolio | 2.2m $293.5m | Added +1.5m |
| JANE STREET GROUP, LLC 0.19% of their portfolio | 2.1m $292.1m | Added +1.4m |
| Balyasny Asset Management L.P. 0.49% of their portfolio | 2.0m $269.1m | Added +6.8k |
| Allianz Asset Management GmbH 0.18% of their portfolio | 1.9m $176.7m | Reduced -1.2k |
| Amundi 0.06% of their portfolio | 1.9m $260.7m | Added +699.3k |
| NORGES BANK 0.03% of their portfolio | 1.9m $256.8m | Not comparable |
| VANGUARD FIDUCIARY TRUST CO 0.05% of their portfolio | 1.8m $248.2m | Added +1.5k |
| Point72 Asset Management, L.P. 0.37% of their portfolio | 1.8m $245.2m | Added +169.8k |
| Pacer Advisors, Inc. 0.62% of their portfolio | 1.8m $239.6m | Added +42.7k |
| ASSETMARK, INC 0.36% of their portfolio | 1.6m $211.6m | Reduced -61.2k |
| LANSDOWNE PARTNERS (UK) LLP 8.67% of their portfolio | 1.5m $210.7m | Added +18.3k |
| UBS Group AG 0.03% of their portfolio | 1.5m $206.8m | Reduced -1.2m |
| AMERICAN CENTURY COMPANIES INC 0.09% of their portfolio | 1.5m $197.4m | Added +311.4k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.19% of their portfolio | 1.4m $186.7m | Added +75.6k |
| Holocene Advisors, LP 0.41% of their portfolio | 1.3m $179.5m | New |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 1.3m $178.6m | Reduced -207.4k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.3m $178.5m | Reduced -81.5k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 1.2m $114.7m | Added +36.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.23% of their portfolio | 1.2m $162.9m | Added +983.5k |
| MILLENNIUM MANAGEMENT LLC 0.11% of their portfolio | 1.2m $156.6m | Added +384.2k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.1m $153.5m | Added +69.5k |
| Senator Investment Group LP 5.34% of their portfolio | 1.1m $146.2m | Reduced -354.2k |
| Russell Investments Group, Ltd. 0.12% of their portfolio | 1.0m $136.5m | Added +6.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 959.3k $130.5m | Added +146.3k |
| Quantinno Capital Management LP 0.15% of their portfolio | 913.9k $124.3m | Added +146.8k |
| PointState Capital LP 2.13% of their portfolio | 889.5k $121.0m | New |
| Castle Hook Partners LP 1.29% of their portfolio | 882.2k $120.0m | New |
| BARCLAYS PLC 0.04% of their portfolio | 849.2k $115.5m | Reduced -1.2m |
| Nuveen, LLC 0.03% of their portfolio | 846.2k $115.1m | Added +5.3k |
| Duquesne Family Office LLC 2.48% of their portfolio | 794.8k $108.1m | Added +532.3k |
| Alyeska Investment Group, L.P. 0.28% of their portfolio | 791.3k $107.6m | Reduced -901.8k |
| U S GLOBAL INVESTORS INC 10.21% of their portfolio | 780.7k $106.2m | Reduced -3.9k |
| TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio | 780.7k $106.2m | Added +701.0k |
| Patient Capital Management, LLC 3.31% of their portfolio | 731.5k $99.5m | Reduced -497 |
| GMT Capital Corp 5.15% of their portfolio | 726.8k $98.8m | Reduced -241.9k |
| California Public Employees Retirement System 0.06% of their portfolio | 726.6k $98.8m | Reduced -36.1k |
| Qube Research & Technologies Ltd 0.11% of their portfolio | 725.0k $98.6m | Reduced -1.2m |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.33% of their portfolio | 712.8k $96.9m | Added +418.6k |
| Legal & General Group Plc 0.02% of their portfolio | 704.3k $95.8m | Reduced -72.4k |
| Vanguard Global Advisers, LLC 0.04% of their portfolio | 697.2k $94.8m | Reduced -15.1k |
| HSBC HOLDINGS PLC 0.04% of their portfolio | 685.5k $93.4m | Reduced -110.7k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 651.0k $88.6m | Reduced -191.2k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 644.9k $87.7m | Added +108.8k |
| CAPITAL FUND MANAGEMENT S.A. 0.63% of their portfolio | 641.6k $87.3m | Added +324.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 640.7k $87.1m | Reduced -49.1k |
| SG Americas Securities, LLC 0.05% of their portfolio | 617.1k $83.9m | Added +571.7k |
| MARSHALL WACE, LLP 0.07% of their portfolio | 593.9k $80.8m | Reduced -385.8k |
| RHUMBLINE ADVISERS 0.06% of their portfolio | 543.5k $73.9m | Reduced -772 |
| FEDERATED HERMES, INC. 0.10% of their portfolio | 530.1k $72.1m | Reduced -97.6k |
| SEI INVESTMENTS CO 0.06% of their portfolio | 523.8k $71.2m | Added +117.7k |
| Avala Global LP 2.59% of their portfolio | 517.3k $70.3m | Reduced -559.3k |
| Quadrature Capital Ltd 0.59% of their portfolio | 510.3k $69.4m | New |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 510.1k $69.4m | Reduced -53.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 508.4k $69.1m | Added +36.4k |
| CITIGROUP INC 0.03% of their portfolio | 506.6k $68.9m | Reduced -132.7k |
| GLENVIEW CAPITAL MANAGEMENT, LLC 1.34% of their portfolio | 494.7k $67.3m | Reduced -2.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio | 465.8k $63.3m | New |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 455.2k $61.9m | Reduced -18.5k |
| BWCP, LP 8.39% of their portfolio | 431.7k $58.7m | Reduced -21.1k |
| Allspring Global Investments Holdings, LLC 0.09% of their portfolio | 427.3k $57.7m | Added +47.2k |
| Hudson Bay Capital Management LP 0.27% of their portfolio | 425.8k $57.9m | Added +29.3k |
| Weiss Asset Management LP 0.65% of their portfolio | 425.2k $57.8m | Not comparable |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio | 420.7k $57.2m | Reduced -226.4k |
| Assenagon Asset Management S.A. 0.04% of their portfolio | 415.8k $56.5m | Added +63.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 408.2k $55.5m | Added +24.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 380.2k $51.7m | Added +17.3k |
| Douglas Lane & Associates, LLC 0.67% of their portfolio | 365.5k $49.7m | Reduced -11.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio | 359.3k $48.9m | Added +278.0k |
| Nearwater Capital Markets, Ltd 0.82% of their portfolio | 351.0k $47.7m | New |
| Man Group plc 0.08% of their portfolio | 330.5k $44.9m | Reduced -509.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.19% of their portfolio | 320.4k $43.6m | Reduced -349.1k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 309.5k $42.1m | Reduced -109.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.08% of their portfolio | 308.2k $41.9m | Added +130.9k |