Union Pacific Corporation
US ˙ NYSE ˙ US9078181081

SecurityUNP / Union Pacific Corporation
InstitutionBaird Financial Group, Inc.
Latest Disclosed Ownership2,076,555 shares
Latest Disclosed Value $ 503,813,912
Baird Financial Group, Inc. reports 4.15% increase in ownership of UNP / Union Pacific Corporation

On May 14, 2026 - Baird Financial Group, Inc. filed a 13F-HR form disclosing ownership of 2,076,555 shares of Union Pacific Corporation (US:UNP) valued at $503,813,774 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 1,993,741 shares of Union Pacific Corporation. This represents a change in shares of 4.15% during the quarter. The current value of the position is $565,487,458 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F UNION PAC COM 907818108 2,076,555 82,814 4.15 503,814 9.24 0.4236
2026-02-13 2025-12-31 13F UNION PAC CORP COM COMMON 907818108 1,993,741 56,119 2.90 461,192 0.70 0.7189
2025-11-13 2025-09-30 13F UNION PAC CORP COM COMMON 907818108 1,937,622 26,105 1.37 457,996 4.14 0.7365
2025-08-13 2025-06-30 13F UNION PAC CORP COM COMMON 907818108 1,911,517 -73,440 -3.70 439,802 -6.21 0.7712
2025-05-15 2025-03-31 13F UNION PAC CORP COM COMMON 907818108 1,984,957 62,008 3.22 468,926 6.94 0.9029
2025-02-14 2024-12-31 13F UNION PACIFIC COMMON 907818108 1,922,949 24,083 1.27 438,509 -6.31 0.8386
2024-11-14 2024-09-30 13F UNION PACIFIC COMMON 907818108 1,898,866 78,865 4.33 468,033 13.66 0.9089
2024-08-14 2024-06-30 13F UNION PACIFIC COMMON 907818108 1,820,001 46,103 2.60 411,794 -5.61 0.8542
2024-05-14 2024-03-31 13F UNION PACIFIC COMMON 907818108 1,773,898 35,057 2.02 436,255 2.14 0.9148
2024-02-14 2023-12-31 13F UNION PACIFIC COMMON 907818108 1,738,841 155,111 9.79 427,094 32.43 0.9733
2023-11-13 2023-09-30 13F UNION PACIFIC COMMON 907818108 1,583,730 23,083 1.48 322,495 0.99 0.8796
2023-08-11 2023-06-30 13F UNION PACIFIC COMMON 907818108 1,560,647 -348,013 -18.23 319,340 -16.87 0.8428
2023-05-15 2023-03-31 13F UNION PACIFIC COMMON 907818108 1,908,660 56,507 3.05 384,137 100,196.61 0.9476
2023-02-13 2022-12-31 13F UNION PACIFIC COMMON 907818108 1,852,153 253,120 15.83 384 -99.88 1.0099
2022-11-15 2022-09-30 13F UNION PACIFIC COMMON 907818108 1,599,033 10,255 0.65 311,524 -8.07 0.9179
2022-08-08 2022-06-30 13F UNION PACIFIC COMMON 907818108 1,588,778 -2,577 -0.16 338,855 -22.06 0.9407
2022-05-13 2022-03-31 13F UNION PACIFIC COMMON 907818108 1,591,355 69,790 4.59 434,774 13.42 1.0744
2022-02-09 2021-12-31 13F UNION PAC CORP COM COMMON 907818108 1,521,565 7,813 0.52 383,328 29.19 0.8962
2021-11-12 2021-09-30 13F UNION PAC CORP COM COMMON 907818108 1,513,752 11,810 0.79 296,711 -10.18 0.7589
2021-08-11 2021-06-30 13F UNION PAC CORP COM COMMON 907818108 1,501,942 6,517 0.44 330,322 0.22 0.8585
2021-05-13 2021-03-31 13F UNION PAC CORP COM COMMON 907818108 1,495,425 33,892 2.32 329,606 8.31 0.9244
2021-02-11 2020-12-31 13F UNION PAC CORP COM COMMON 907818108 1,461,533 82,857 6.01 304,320 12.12 0.9097
2020-11-12 2020-09-30 13F UNION PAC CORP COM COMMON 907818108 1,378,676 39,772 2.97 271,421 19.90 0.9299
2020-10-22 2020-06-30 13F/A-1 UNION PAC CORP COM COMMON 907818108 1,338,904 42,126 3.25 226,368 23.77 0.8527
2020-08-14 2020-06-30 13F UNION PAC CORP COM COMMON 907818108 1,319,622 22,844 231,644 459,065.7792
2020-05-14 2020-03-31 13F UNION PAC CORP COM COMMON 907818108 1,296,778 -28,994 -2.19 182,898 -23.69 0.8353
2020-02-14 2019-12-31 13F UNION PAC CORP COM COMMON 907818108 1,325,772 -7,250 -0.54 239,686 11.01 0.8604
2019-11-14 2019-09-30 13F UNION PACIFIC Common 907818108 1,333,022 15,429 1.17 215,923 -3.09 0.8505
2019-08-14 2019-06-30 13F UNION PACIFIC COMMON 907818108 1,317,593 768,091 139.78 222,818 142.52 0.8664
2019-05-14 2019-03-31 13F UNION PACIFIC COMMON 907818108 549,502 14,453 2.70 91,877 24.23 0.5372
2019-02-14 2018-12-31 13F Union Pacific COMMON 907818108 535,049 35,059 7.01 73,960 -9.96 0.5020
2018-11-13 2018-09-30 13F Union Pacific COMMON 907818108 499,990 -15,353 -2.98 82,143 12.66 0.5147
2018-08-13 2018-06-30 13F Union Pacific COMMON 907818108 515,343 2,633 0.51 72,912 5.79 0.4949
2018-05-14 2018-03-31 13F Union Pacific COMMON 907818108 512,710 -33,698 -6.17 68,924 -5.94 0.4853
2018-02-09 2017-12-31 13F UNION PACIFIC COMMON 907818108 546,408 -9,867 -1.77 73,273 13.58 0.5190
2017-11-14 2017-09-30 13F UNION PACIFIC COMMON 907818108 556,275 4,913 0.89 64,511 7.43 0.4866
2017-08-14 2017-06-30 13F UNION PACIFIC COMMON 907818108 551,362 -14,196 -2.51 60,049 0.24 0.4705
2017-06-19 2017-03-31 13F/A-1 UNION PACIFIC COMMON 907818108 565,558 -20,723 -3.53 59,904 -1.45 0.4845
2017-05-09 2017-03-31 13F UNION PACIFIC COMMON 907818108 565,558 59,904
2017-02-10 2016-12-31 13F UNION PACIFIC COMMON 907818108 586,281 -7,097 -1.20 60,786 5.04 0.5278
2016-11-10 2016-09-30 13F UNION PACIFIC COMMON 907818108 593,378 -3,420 -0.57 57,872 4.07 0.5184
2016-08-11 2016-06-30 13F UNION PACIFIC COMMON 907818108 596,798 2,754 0.46 55,611 17.68 0.5100
2016-05-12 2016-03-31 13F UNION PACIFIC COMMON 907818108 594,044 176,540 42.28 47,256 44.74 0.4521
2016-02-11 2015-12-31 13F UNION PACIFIC COMMON 907818108 417,504 256,643 159.54 32,649 129.57 0.3266
2015-11-12 2015-09-30 13F UNION PACIFIC COMMON 907818108 160,861 -15,083 -8.57 14,222 -15.24 0.1512
2015-08-14 2015-06-30 13F UNION PACIFIC COMMON 907818108 175,944 175,944 16,780 0.1651
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.