United Airlines Holdings, Inc. - Common Stock (UAL) Institutional Ownership

13F Institutional Holders and Ownership History from Q1 2014 to Q4 2025

Type / Class: Equity / Common Stock
Symbol: UAL on Nasdaq
Shares outstanding: 325,265,768
Price per share: $104.04
All holders as of 31 Dec 2025: Q4 2025
Total 13F shares: 285,045,099
Total reported value: $31,856,739,797
% of total 13F portfolios: 0.02%
Share change: +413,478
Value change: +$131,429,963
Number of holders: 983
Price from insider filings: $104.04

Reported Shares, Excluding Options vs Price

Reported Value, Excluding Options

Total Investors

Significant Owners of United Airlines Holdings, Inc. - Common Stock (UAL) based on Schedule 13D/G filings

Filer	Ownership	Change %	Holdings Value	Net Change	Nb Shares	Change %	Reporting Name	Report Period
Capital International Investors	5.6%	-14%	$2,136,970,074	-$425,249,804	18,214,883	-17%	Capital International Investors	31 Dec 2025
FMR LLC	5%		$1,835,811,869		16,417,563		FMR LLC	31 Dec 2025
PRIMECAP MANAGEMENT CO/CA/	4.9%	-14%	$1,874,596,447	-$336,284,875	15,978,490	-15%	PRIMECAP MANAGEMENT CO/CA/	31 Dec 2025

As of 31 Dec 2025, 983 institutional investors reported holding 285,045,099 shares of United Airlines Holdings, Inc. - Common Stock (UAL). This represents 88% of the company’s total 325,265,768 outstanding shares.

Top 25 Institutional Shareholders

The largest institutional shareholders of United Airlines Holdings, Inc. - Common Stock (UAL) together control 63% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.

Institution	Ownership %	Shares Held	Share Change %	Portfolio %	Holdings Value
VANGUARD GROUP INC	11%	37,379,569	+0.15%	0.06%	$4,179,783,406
BlackRock, Inc.	6.6%	21,420,528	+4.8%	0.04%	$2,395,243,373
Capital International Investors	5.6%	18,199,969	-17%	0.32%	$2,035,117,355
FMR LLC	5%	16,417,564	+13%	0.09%	$1,835,811,869
PRIMECAP MANAGEMENT CO/CA/	4.9%	15,978,490	-11%	1.4%	$1,786,714,749
Sanders Capital, LLC	4.7%	15,182,819	+2.8%	2%	$1,697,742,821
STATE STREET CORP	3.5%	11,510,200	+0.46%	0.04%	$1,287,070,564
GEODE CAPITAL MANAGEMENT, LLC	2.8%	9,012,731	+0.77%	0.06%	$1,015,217,713
Capital World Investors	2.2%	7,265,530	+0.31%	0.11%	$812,428,175
DIMENSIONAL FUND ADVISORS LP	1.7%	5,474,521	+0.25%	0.13%	$612,132,680
PAR CAPITAL MANAGEMENT INC	1.5%	4,894,850	-1.5%	15%	$547,342,127
CITADEL ADVISORS LLC	1.4%	4,401,311	+1.4%	0.33%	$492,154,596
Invesco Ltd.	1.2%	3,847,571	-3.6%	0.07%	$430,235,355
MORGAN STANLEY	1.1%	3,580,241	-1.7%	0.02%	$400,342,715
Newport Trust Company, LLC	1%	3,266,669	-1.9%	0.87%	$365,278,975
Senator Investment Group LP	0.96%	3,128,629	+1.1%	14%	$349,843,295
BARCLAYS PLC	0.95%	3,087,540	+25%	0.14%	$345,248,720
GOLDMAN SACHS GROUP INC	0.91%	2,964,229	-16%	0.05%	$331,460,065
AQR CAPITAL MANAGEMENT LLC	0.9%	2,928,657	+57%	0.17%	$325,549,466
SRS Investment Management, LLC	0.89%	2,903,678	+0.09%	3.4%	$324,689,274
UBS Group AG	0.88%	2,866,570	-27%	0.06%	$320,539,857
Pacer Advisors, Inc.	0.84%	2,730,727	-19%	0.79%	$305,349,893
LSV ASSET MANAGEMENT	0.77%	2,514,959	-1.7%	0.61%	$281,223,000
NORTHERN TRUST CORP	0.76%	2,460,875	-3%	0.04%	$275,175,041
Boston Partners	0.72%	2,344,675	-3.7%	0.27%	$262,512,865

Institutional Holders of United Airlines Holdings, Inc. - Common Stock (UAL) across Reporting Periods

Period	Reported Shares, Excl. Options	Value, Excl. Options	Value Change	Puts Notional Value	Calls Notional Value	Price (Median)	Investors
2025 Q4	285,045,099	$31,856,739,797	+$131,429,963	$2,076,788,132	$1,512,059,847	$111.82	983
2025 Q3	289,578,115	$27,946,651,496	+$891,817,826	$1,840,997,188	$1,521,285,356	$96.50	904
2025 Q2	281,593,500	$22,426,939,590	-$239,906,774	$1,838,729,084	$1,492,829,137	$79.63	859
2025 Q1	285,529,464	$19,708,760,786	-$544,185,938	$1,861,152,627	$1,546,359,092	$69.05	833
2024 Q4	287,445,895	$27,925,571,835	+$1,563,134,490	$3,288,780,447	$2,869,634,280	$97.10	843
2024 Q3	269,295,566	$15,380,371,910	+$655,979,030	$1,819,097,226	$1,548,468,453	$57.06	634
2024 Q2	258,238,611	$12,578,930,786	+$568,763,043	$1,535,217,822	$1,007,539,385	$48.66	666
2024 Q1	246,584,849	$11,810,882,498	+$925,335,692	$1,662,575,705	$928,228,533	$47.88	626
2023 Q4	227,809,978	$9,402,049,531	-$176,869,768	$1,871,893,827	$578,803,113	$41.26	620
2023 Q3	231,791,785	$9,804,525,082	-$76,749,315	$1,568,751,625	$519,835,912	$42.30	612
2023 Q2	231,849,302	$12,717,168,388	+$518,887,568	$1,903,933,792	$745,079,025	$54.87	638
2023 Q1	223,065,089	$9,869,079,303	+$627,961,537	$1,474,376,563	$563,893,013	$44.25	592
2022 Q4	209,885,879	$7,912,461,100	+$472,166,431	$1,339,279,281	$681,153,798	$37.70	556
2022 Q3	197,135,585	$6,414,112,349	-$397,566,378	$1,069,908,000	$555,765,298	$32.53	475
2022 Q2	208,316,635	$7,382,367,115	+$207,928,126	$1,225,213,494	$584,261,096	$35.42	477
2022 Q1	202,832,354	$9,395,453,599	+$685,260,628	$1,723,668,652	$1,265,799,512	$46.36	511
2021 Q4	187,916,845	$8,227,738,197	-$87,164,627	$1,844,454,122	$1,388,218,566	$43.78	517
2021 Q3	189,206,921	$9,005,168,162	-$308,253,231	$2,037,736,830	$1,425,805,382	$47.57	528
2021 Q2	195,059,614	$10,197,859,390	-$404,040,558	$1,620,155,350	$1,052,027,000	$52.29	542
2021 Q1	202,166,615	$11,632,683,801	+$391,881,283	$1,500,853,000	$1,414,102,000	$57.54	548
2020 Q4	197,914,352	$8,560,086,891	+$852,088,412	$1,219,257,000	$895,774,000	$43.25	527
2020 Q3	178,398,134	$6,199,282,044	+$61,391,565	$806,616,000	$693,329,000	$34.75	460
2020 Q2	177,025,785	$6,125,428,727	-$1,064,339,690	$920,285,000	$817,683,000	$34.61	447
2020 Q1	211,329,193	$6,663,588,384	-$1,505,520,623	$385,509,000	$433,483,000	$31.55	495
2019 Q4	244,995,063	$21,567,632,913	-$643,058,544	$1,091,209,000	$1,182,197,000	$88.09	594
2019 Q3	250,937,122	$22,171,058,740	-$187,768,180	$1,025,382,000	$1,124,302,000	$88.41	568
2019 Q2	253,320,638	$22,158,166,405	-$632,718,573	$822,153,000	$331,874,000	$87.55	564
2019 Q1	261,978,220	$20,894,110,399	-$336,889,422	$563,665,000	$327,782,000	$79.78	592
2018 Q4	267,070,275	$22,355,953,077	+$175,071,865	$789,617,000	$969,878,000	$83.73	618
2018 Q3	264,055,699	$23,513,063,340	+$252,409,003	$848,374,000	$1,364,354,000	$89.06	569
2018 Q2	261,442,526	$18,230,185,424	-$435,361,087	$374,998,000	$480,742,000	$69.73	533
2018 Q1	267,864,826	$18,607,728,607	-$215,227,348	$555,376,079	$580,229,084	$69.47	534
2017 Q4	271,253,778	$18,282,312,556	-$1,216,103,308	$769,001,540	$616,597,220	$67.40	532
2017 Q3	284,314,865	$17,312,043,090	-$939,140,470	$678,622,000	$246,419,000	$60.88	528
2017 Q2	298,148,439	$22,434,979,753	+$255,762,921	$486,740,000	$371,843,000	$75.25	588
2017 Q1	299,669,161	$21,168,372,366	+$1,365,694,909	$407,438,000	$298,812,000	$70.64	559
2016 Q4	302,243,157	$22,024,324,365	+$701,168,562	$520,295,000	$556,666,000	$72.88	553
2016 Q3	294,521,875	$15,449,738,954	-$326,457,574	$357,696,000	$343,667,000	$52.47	531
2016 Q2	301,903,549	$12,398,108,135	-$1,018,166,094	$200,382,000	$222,519,000	$41.04	514
2016 Q1	322,339,620	$19,316,509,281	-$1,172,647,490	$271,287,000	$286,027,000	$59.86	526
2015 Q4	343,463,248	$19,709,379,252	-$1,017,756,187	$350,861,000	$379,907,000	$57.30	559
2015 Q3	357,858,437	$19,010,935,434	+$487,920,730	$397,247,000	$367,588,000	$53.05	533
2015 Q2	351,200,200	$18,634,472,288	-$392,444,989	$551,103,000	$1,244,488,000	$53.01	485
2015 Q1	355,199,929	$23,892,947,187	+$117,089,596	$444,324,000	$873,415,000	$67.25	499
2014 Q4	346,155,942	$23,158,925,073	+$295,708,100	$694,248,000	$1,282,858,000	$66.89	468
2014 Q3	353,495,533	$16,539,070,881	-$390,371,073	$409,136,000	$906,093,000	$46.79	400
2014 Q2	361,724,021	$14,858,924,826	-$248,506,475	$289,574,000	$966,018,000	$41.07	394
2014 Q1	367,053,703	$16,375,807,161	+$371,273,637	$201,726,000	$594,941,000	$44.63	381