- Quarter end
- 30 Sep 2025
- the date the book describes
- Filed
- 15 Dec 2025
- latest of these filings; the earliest 12 Nov 2025
- Managers listing it
- 21
- at least, of 95 tracked, among listed positions
- Comparable managers
- 95
- filed both Q2 2025 and Q3 2025; 16 listed it in both
- Shares listed
- 40,997,398
- combined, among listed positions
- Reported value
- $4.0bn
- combined, at the quarter end
Among the 95 comparable managers: 16 buyers (opened or added shares) and 6 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.
Managers listing UAL in Q3 2025
21 of 21 holders
Largest increases and reductions, by shares
Increases
- Fidelity (FMR LLC)existing position · 14,559,577 shares now+5,768,659
- Balyasny Asset Management LLCnew position · 2,646,053 shares now+2,646,053
- Capital World Investorsexisting position · 7,243,066 shares now+783,551
- Freestone Grove Partners LPexisting position · 776,783 shares now+720,583
- Marshall Wace LLPexisting position · 960,037 shares now+429,265
Reductions
- Invesco Ltdexisting position · 3,990,254 shares now-808,169
- Woodline Partners LPexisting position · 133,126 shares now-136,101
- Appaloosa LPexisting position · 462,500 shares now-87,500
- Hudson Bay Capital Management LPexisting position · 425,623 shares now-50,148
- Brevan Howard Capital Management LPexisting position · 37,038 shares now-7,594
New positions and exits
New (3)
Exited (1)
- Bridgewater Associates LPwas $23m
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2013 | 17 | $4.5bn | n.a. | n.a. |
| Q3 2013 | 15 | $4.4bn | n.a. | n.a. |
| Q4 2013 | 17 | $5.6bn | n.a. | n.a. |
| Q1 2014 | 19 | $6.0bn | n.a. | n.a. |
| Q2 2014 | 16 | $4.7bn | n.a. | n.a. |
| Q3 2014 | 18 | $4.6bn | n.a. | n.a. |
| Q4 2014 | 23 | $7.1bn | n.a. | n.a. |
| Q1 2015 | 26 | $7.5bn | n.a. | n.a. |
| Q2 2015 | 24 | $4.7bn | n.a. | n.a. |
| Q3 2015 | 20 | $4.5bn | n.a. | n.a. |
| Q4 2015 | 21 | $4.2bn | n.a. | n.a. |
| Q1 2016 | 22 | $4.1bn | n.a. | n.a. |
| Q2 2016 | 18 | $2.1bn | n.a. | n.a. |
| Q3 2016 | 24 | $2.8bn | n.a. | n.a. |
| Q4 2016 | 21 | $5.1bn | n.a. | n.a. |
| Q1 2017 | 21 | $4.6bn | n.a. | n.a. |
| Q2 2017 | 24 | $5.5bn | n.a. | n.a. |
| Q3 2017 | 20 | $4.3bn | n.a. | n.a. |
| Q4 2017 | 18 | $5.5bn | n.a. | n.a. |
| Q1 2018 | 20 | $4.9bn | n.a. | n.a. |
| Q2 2018 | 16 | $4.2bn | n.a. | n.a. |
| Q3 2018 | 21 | $5.9bn | n.a. | n.a. |
| Q4 2018 | 21 | $5.6bn | n.a. | n.a. |
| Q1 2019 | 26 | $5.0bn | n.a. | n.a. |
| Q2 2019 | 19 | $5.2bn | n.a. | n.a. |
| Q3 2019 | 23 | $5.9bn | n.a. | n.a. |
| Q4 2019 | 27 | $5.6bn | n.a. | n.a. |
| Q1 2020 | 12 | $1.5bn | n.a. | n.a. |
| Q2 2020 | 8 | $362m | n.a. | n.a. |
| Q3 2020 | 8 | $219m | n.a. | n.a. |
| Q4 2020 | 13 | $720m | n.a. | n.a. |
| Q1 2021 | 16 | $1.6bn | n.a. | n.a. |
| Q2 2021 | 10 | $816m | n.a. | n.a. |
| Q3 2021 | 8 | $387m | n.a. | n.a. |
| Q4 2021 | 8 | $351m | n.a. | n.a. |
| Q1 2022 | 9 | $680m | n.a. | n.a. |
| Q2 2022 | 12 | $661m | n.a. | n.a. |
| Q3 2022 | 7 | $322m | n.a. | n.a. |
| Q4 2022 | 11 | $737m | n.a. | n.a. |
| Q1 2023 | 13 | $930m | n.a. | n.a. |
| Q2 2023 | 18 | $1.8bn | n.a. | n.a. |
| Q3 2023 | 11 | $1.3bn | n.a. | n.a. |
| Q4 2023 | 11 | $954m | 6 | 7 |
| Q1 2024 | 16 | $1.6bn | 12 | 5 |
| Q2 2024 | 15 | $1.6bn | 9 | 9 |
| Q3 2024 | 14 | $1.7bn | 8 | 6 |
| Q4 2024 | 22 | $3.6bn | 15 | 8 |
| Q1 2025 | 18 | $1.6bn | 14 | 5 |
| Q2 2025 | 21 | $2.4bn | 13 | 9 |
| Q3 2025 | 21 | $4.0bn | 16 | 6 |
| Q4 2025 | 30 | $5.3bn | 28 | 14 |
| Q1 2026 | 24 | $4.9bn | 20 | 24 |
| Q2 2026 | 27 | $8.4bn | 23 | 17 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
UAL and KLAC →UAL and GE →UAL and LRCX →Choose a stock to compare with UAL →
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own UAL, latest filings →Back to the 13F Explorer →