Who Owns Under Armour
Under Armour, Inc. is a publicly traded American apparel and footwear company headquartered in Baltimore, Maryland. The brand was founded by Kevin Plank in 1996, and he served as executive chairman and former CEO while remaining a major shareholder through his private holding company, Plank Industries, LLC. As of the latest available public filings, Plank and related parties continue to hold a significant block of Class B shares, which carry enhanced voting rights, giving the founder and his affiliates outsized influence over major corporate decisions despite a smaller percentage of total outstanding shares SEC EDGAR filings for Under Armour.
The company completed a corporate restructuring in recent years, spinning off its footwear business into a separate entity and refocusing the core Under Armour brand on performance apparel and accessories. This restructuring shifted the balance of power among shareholders, with institutional investors such as Vanguard Group, BlackRock, and State Street Global Advisors holding large positions in the publicly traded Class A shares. Retail investors and active funds also own meaningful stakes, making Under Armour a widely held name in the consumer discretionary sector Forbes coverage of Under Armour ownership and strategy.
Corporate Structure and Governance
Class A vs. Class B Shares
Under Armour operates with a dual-class share structure. Class B shares, held primarily by founder Kevin Plank and affiliated entities, carry ten votes per share, while Class A shares, traded on the New York Stock Exchange under the ticker UA, carry one vote per share. This structure allows the founding family and early investors to maintain control over board seats and strategic direction, even as public float and institutional ownership change Under Armour latest SEC proxy statement.
The board of directors includes independent directors alongside representatives aligned with Plank Industries, LLC. Governance documents outline committees for audit, compensation, and nominating and governance, with oversight responsibilities tied to long-term brand strategy, capital allocation, and risk management. Shareholder proposals and voting outcomes at annual meetings are publicly disclosed through DEF14A filings, providing transparency on ownership concentration and governance trends.
Financial Performance and Ownership Trends
Recent Revenue and Market Position
Under Armour has reported annual revenues in the low billions in recent fiscal periods, facing competition from Nike, Adidas, and Lululemon in the global athletic apparel market. The company has pursued cost-cutting initiatives, supply chain optimization, and digital growth to improve margins and stabilize its market position. Institutional ownership has fluctuated with quarterly earnings reports, with major asset managers adjusting positions based on profitability, brand momentum, and macroeconomic conditions Forbes analysis of Under Armour ownership trends.
Ownership data from the most recent 13F filings shows that Vanguard, BlackRock, and State Street remain among the top holders of Under Armour Class A shares, while retail ownership is dispersed