| United Airlines Holdings, Inc. | 10,490,745 | $220.4m | 57.2% |
| American Airlines Group Inc. | 9,755,889 | $205.0m | 100.0% |
| DELTA AIR LINES, INC. | 6,770,601 | $142.3m | 36.4% |
| CONTRARIAN CAPITAL MANAGEMENT, L.L.C. | 4,347,756 | $91.3m | 29.8% |
| Owl Creek Asset Management, L.P. | 4,278,689 | $89.9m | 7.4% |
| BlackRock, Inc. | 1,091,953 | $22.9m | 0.0% |
| PAR CAPITAL MANAGEMENT INC | 506,844 | $10.6m | 0.3% |
| GEODE CAPITAL MANAGEMENT, LLC | 446,565 | $9.4m | 0.0% |
| DONALD SMITH & CO., INC. | 273,129 | $5.7m | 0.1% |
| VANGUARD CAPITAL MANAGEMENT LLC | 237,339 | $5.0m | 0.0% |
| STATE STREET CORP | 188,390 | $4.0m | 0.0% |
| NORTHERN TRUST CORP | 123,825 | $2.6m | 0.0% |
| VANGUARD FIDUCIARY TRUST CO | 117,545 | $2.5m | 0.0% |
| Pinnacle Holdings, LLC | 116,737 | $2.5m | 0.8% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 112,442 | $2.4m | 0.0% |
| CastleKnight Management LP | 110,900 | $2.3m | 0.0% |
| BANK OF AMERICA CORP /DE/ | 94,248 | $2.0m | 0.0% |
| LAZARD ASSET MANAGEMENT LLC | 83,515 | $1.8m | 0.0% |
| Orvieto Partners, L.P. | 82,602 | $1.7m | 1.1% |
| AMERICAN CENTURY COMPANIES INC | 72,981 | $1.5m | 0.0% |
| UBS Group AG | 70,533 | $1.5m | 0.0% |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 52,972 | $1.1m | 0.0% |
| GOLDMAN SACHS GROUP INC | 35,534 | $746,570 | 0.0% |
| Bank of New York Mellon Corp | 35,475 | $745,329 | 0.0% |
| XTX Topco Ltd | 29,831 | $626,749 | 0.0% |