Union Pacific

UNP • NYSE

Union Pacific is a railroads company in the industrials sector on NYSE, led by Lance M. Fritz, with a market cap of $140.06B. As of Q3 2025, 83% of shares are held by 2,572 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.89%.

President and CEOLance M. Fritz

Market Cap$140.06B

Railroads

Industrials

Employees31.1K

Websiteup.com

Country

United States of America

Overview

Overview of institutional ownership in UNP as of Q3 2025 with a market cap of $140.18B

All Institutions

Institutions: 2,572
Value Held: $116.64B
Shares Held: 493.6M
Avg Position: $45.3M
Median Position: $1.3M

Hedge Funds

Hedge Funds: 116
Value Held: $6.8B
Shares Held: 28.7M
Avg Position: $58.5M
Median Position: $7.2M

Ownership Breakdown

Institutional (non-HF)

78.37%

$109.85B

Hedge Funds

4.84%

$6.8B

Retail & Other

16.79%

$23.5B

Based on market cap of $140.18B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in UNP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$13.9B 0.21% of portfolio	9.89% 58.7M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$11.5B 0.20% of portfolio	8.20% 48.6M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$6.0B 0.21% of portfolio	4.26% 25.2M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.6B 0.23% of portfolio	2.54% 15.1M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$2.8B 0.17% of portfolio	2.03% 12.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$2.8B 0.21% of portfolio	2.02% 12.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.33T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$2.6B 0.16% of portfolio	1.83% 10.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.56T
C Capital World Investors Institution	-	$2.5B 0.34% of portfolio	1.77% 10.5M shares	≤ Q2 2013 Held for 12y 5m+	$730.00B
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	James Poucher CEO	$2.2B 0.47% of portfolio	1.55% 9.2M shares	≤ Q2 2013 Held for 12y 5m+	$460.61B
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$2.1B 0.39% of portfolio	1.47% 8.7M shares	≤ Q2 2013 Held for 12y 5m+	$532.36B

Net Capital Flow

Institutional buying and selling activity for UNP in Q3 2025

Traded: +$5.7B
Buyers: 1,110
Sellers: 1,190
Total Bought: +$15.2B
Total Sold: −$9.5B
Avg Position: $42.9M

Biggest Buyers

Institution	Net Bought	Current Position
C Capital World Investors Institution	+$1.6B +6.9M shares	$2.5B 10.5M shares
Capital Research Global Investors RIA/Wealth	+$1.0B +4.2M shares	$2.1B 8.7M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	+$912.8M +3.9M shares	$2.2B 9.2M shares
B BlackRock, Inc. Institution	+$823.3M +3.5M shares	$11.5B 48.6M shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	+$613.0M +2.6M shares	$931.8M 3.9M shares
JPMORGAN CHASE & CO Institution	+$575.0M +2.4M shares	$2.6B 10.9M shares
MORGAN STANLEY RIA/Wealth	+$523.3M +2.2M shares	$2.8B 12.0M shares
EdgePoint Investment Group Inc. Long Only Manager	+$408.6M +1.7M shares	$408.6M 1.7M shares
Slate Path Capital LP Hedge Fund•Long/Short	+$385.7M +1.6M shares	$385.7M 1.6M shares
BAUPOST GROUP LLC/MA Hedge Fund•Value	+$353.7M +1.5M shares	$353.7M 1.5M shares

Biggest Sellers

Institution	Net Sold	Current Position
C Capital International Investors Institution	−$1.1B −4.8M shares	$862.2M 3.6M shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$960.6M −4.1M shares	$318.9M 1.3M shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$611.7M −2.6M shares	$876.7M 3.7M shares
R ROYAL BANK OF CANADA Institution	−$414.8M −1.8M shares	$1.0B 4.3M shares
AMERIPRISE FINANCIAL INC Institution	−$390.1M −1.7M shares	$1.3B 5.5M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$329.0M −1.4M shares	$98.6M 416.9K shares
V Vontobel Holding Ltd. Institution	−$270.2M −1.1M shares	$193.1M 816.9K shares
FMR LLC Institution	−$251.3M −1.1M shares	$609.9M 2.6M shares
R Rothschild & Co Wealth Management UK Ltd Institution	−$232.8M −1.0M shares	Sold Off 0 shares
A Amundi Institution	−$219.8M −925.7K shares	$915.7M 3.9M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited UNP in Q3 2025

New Positions: 62
New Value: $1.1B
Exited Positions: 149
Exited Value: $975.4M

New Positions

Institution	Position Value
Slate Path Capital LP Hedge Fund•Long/Short	$385.7M 1.6M shares
T TOMS Capital Investment Management LP Hedge Fund•Long/Short	$214.3M 906.7K shares
X XN LP Hedge Fund•Long/Short	$192.2M 813.3K shares
ATLAS Infrastructure Partners Ltd. Real Assets	$121.9M 515.6K shares
Empyrean Capital Partners, LP Hedge Fund•Event Driven	$78.5M 332.0K shares
Ceredex Value Advisors LLC Long Only Manager	$44.0M 186.3K shares
VGI PARTNERS PTY Ltd Hedge Fund•Long/Short	$27.6M 116.9K shares
One Madison Group LLC Hedge Fund•Multi-Strategy	$23.6M 100.0K shares
L LTS One Management LP Institution	$15.1M 64.0K shares
C Candelo Capital Management LP Hedge Fund•Long/Short	$5.8M 24.6K shares

Exited Positions

Institution	Previous Position
R Rothschild & Co Wealth Management UK Ltd Institution	$232.8M 1.0M shares
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	$92.1M 400.3K shares
James Hambro & Partners RIA/Wealth	$91.7M 398.6K shares
C CCLA Investment Management Ltd Institution	$82.5M 358.4K shares
A AXA Institution	$48.6M 211.4K shares
H HRT FINANCIAL LLC Institution	$47.0M 204.3K shares
C Cubist Systematic Strategies, LLC Institution	$39.8M 173.0K shares
Aquatic Capital Management LLC Hedge Fund•Quant	$33.7M 146.7K shares
S S.A.C. Capital Advisors Ltd. Institution	$19.9M 86.5K shares
C COOPER INVESTORS PTY LTD Institution	$19.7M 85.8K shares

Options Activity

Institutions with the largest Call and Put options positions in UNP as of Q3 2025

Call Positions: 45
Call Value: $1.5B
Put Positions: 42
Put Value: $944.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$248.0M 10.5K contracts
T TOMS Capital Investment Management LP Hedge Fund•Long/Short	$239.6M 10.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$146.7M 6.2K contracts
J JANE STREET GROUP, LLC Institution	$139.5M 5.9K contracts
Corvex Management LP Hedge Fund•Event Driven	$118.2M 5.0K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$80.9M 3.4K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$72.9M 30.9 contracts
D D. E. Shaw & Co., Inc. Institution	$51.7M 2.2K contracts
UBS Group AG Institution	$48.7M 2.1K contracts
BANK OF AMERICA CORP /DE/ Institution	$43.7M 1.9K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$285.7M 12.1K contracts
Pentwater Capital Management LP Hedge Fund•Event Driven	$92.2M 3.9K contracts
J JANE STREET GROUP, LLC Institution	$82.0M 3.5K contracts
BANK OF AMERICA CORP /DE/ Institution	$70.9M 3.0K contracts
UBS Group AG Institution	$61.1M 2.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$58.6M 2.5K contracts
Walleye Trading LLC RIA/Wealth	$34.8M 1.5K contracts
W WOLVERINE TRADING, LLC Institution	$34.7M 1.5K contracts
H HSBC HOLDINGS PLC Institution	$27.0M 1.1K contracts
D D. E. Shaw & Co., Inc. Institution	$21.1M 893.0 contracts

Most Committed Institutions

Institutions with UNP as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
T TOMS Capital Investment Management LP Hedge Fund•Long/Short	Benjamin Pass CIO	19.29% $214.3M	0.15% 906.7K shares	Q3 2025 Held for 2 months	$1.1B
Cercano Management LLC Family Office	Christopher Neil Orndorff President	10.02% $260.5M	0.19% 1.1M shares	Q4 2022 Held for 2y 11m	$2.6B
N Nekton Capital Ltd. Institution	-	9.81% $4.8M	0.00% 20.5K shares	Q1 2023 Held for 2y 8m	$49.4M
J JTC Employer Solutions Trusteee Ltd Institution	-	9.76% $49.1M	0.04% 207.9K shares	Q2 2021 Held for 4y 5m	$503.5M
C Consulta Ltd Institution	-	8.74% $153.6M	0.11% 650.0K shares	Q3 2025 Held for 2 months	$1.8B
ELEMENT CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Jeffrey Marc Talpins CEO	8.54% $6.0M	0.00% 25.5K shares	Q1 2025 Held for 8 months	$70.6M
DRH Investments, Inc. RIA/Wealth	Scott J Wood President	8.49% $9.3M	0.01% 39.4K shares	Q4 2019 Held for 5y 11m	$109.8M
BAUPOST GROUP LLC/MA Hedge Fund•Value	Seth Andrew Klarman CEO	7.82% $353.7M	0.25% 1.5M shares	Q3 2025 Held for 2 months	$4.5B
R RDST Capital LLC Hedge Fund•Long/Short	Brian David Pirie Managing Partner	7.49% $79.6M	0.06% 336.6K shares	Q3 2025 Held for 2 months	$1.1B
H Horrell Capital Management, Inc. RIA/Wealth	Scott Lee Horrell President	7.33% $17.2M	0.01% 72.6K shares	≤ Q2 2013 Held for 12y 5m+	$234.0M

Hedge Fund Spotlight

Discover hedge funds investing in UNP

BALYASNY ASSET MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDmitry Balyasny

Portfolio Value: $48.1B
Positions: 1,894
Last Reported: Q3 2025

Sector Allocation

Position in Union Pacific

Market Value: $200.0M
Shares Held: 846.1K
Portfolio Weight: 0.42%
Owned Since: 2015-Q2

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