There were 553 13F filers as of 6/30/14.......they represent about 68% of holdings. This is all the institutional/hedge funds. UAL only has like 300 holders, but they are obviously holding a higher percentage. If you look over time there are 139 new and 242 adding to their existing position for AAL. Where are the shares coming from, the retail investors on each drop that may chose to dump or hit long term. At some point we will go up but hard to say when.
Form 13F—Reports Filed by Institutional Investment Managers
An institutional investment manager that uses the U.S. mail (or other means or instrumentality of interstate commerce) in the course of its business, and exercises investment discretion over $100 million or more in Section 13(f) securities (explained below) must report its holdings on Form 13F with the Securities and Exchange Commission (SEC).
In general, an institutional investment manager is: (1) an entity that invests in, or buys and sells, securities for its own account; or (2) a natural person or an entity that exercises investment discretion over the account of any other natural person or entity. Institutional investment managers can include investment advisers, banks, insurance companies, broker-dealers, pension funds, and corporations.
Form 13F is required to be filed within 45 days of the end of a calendar quarter. The Form 13F report requires disclosure of the name of the institutional investment manager that files the report, and, with respect to each section 13(f) security over which it exercises investment discretion, the name and class, the CUSIP number, the number of shares as of the end of the calendar quarter for which the report is filed, and the total market value.