Union Pacific (UNP) Stock Buybacks: 45.1% of Shares Retired Since 2006

Name: Union Pacific (UNP) shares outstanding since 1999, split adjusted
Creator: Buyback Radar
License: https://creativecommons.org/licenses/by/4.0/

Shares outstanding, 1999 to todaysplit adjusted, from SEC filings

1999, 991,369,3842026-07-17, 594,075,498

A share bought in 1999

1.7× more of Union Pacific today, without buying another share. It was one of 991,369,384 shares then. It is one of 594,075,498 now.

Every filing we read27 fiscal years, split adjusted

Fiscal year	Date	Shares outstanding	Filing
1999	2000-02-29	991,369,384	10-K405	cover page
2000	2001-02-28	989,572,908	10-K	cover page
2001	2002-01-31	974,282,140	10-K	cover page
2002	2003-01-31	1,015,339,072	10-K	cover page
2003	2004-01-31	1,035,359,604	10-K	cover page
2004	2005-01-31	1,043,992,144	10-K	cover page
2005	2005-01-31	1,070,337,948	10-K	cover page
2006	2007-01-31	1,083,009,224	10-K	cover page
2007	2008-01-31	1,042,802,108	10-K	cover page
2008	2008-12-31	1,006,451,410	10-K
2009	2010-01-29	1,010,572,736	10-K
2010	2011-01-28	982,002,832	10-K
2011	2012-01-27	960,135,730	10-K
2012	2013-02-01	938,597,464	10-K
2013	2014-01-31	910,115,218	10-K
2014	2015-01-30	881,284,029	10-K
2015	2016-01-29	846,414,350	10-K
2016	2017-01-27	813,795,240	10-K
2017	2018-02-02	779,305,276	10-K
2018	2019-02-01	722,877,817	10-K
2019	2020-01-31	690,261,490	10-K
2020	2021-01-29	669,829,363	10-K
2021	2022-01-28	636,898,957	10-K
2022	2023-02-03	611,872,981	10-K
2023	2024-02-02	609,777,914	10-K
2024	2025-01-31	604,286,378	10-K
2025	2026-01-30	593,391,460	10-K

Source: all 10-K filings of Union Pacific on EDGAR. Download this series as CSV. Licence CC BY 4.0, credit Buyback Radar.

Union Pacific buybacks, answered

Is Union Pacific buying back its stock?

Only enough to stand still. The share count is roughly flat over the last twelve months, at 594,075,498 as of July 17, 2026. Over five years the share count is down 7.6%.

How many shares has Union Pacific bought back?

Net of every new share it issued, Union Pacific has 488.9 million fewer shares than at its 2006 peak. That is 45.1% of the company.

How many shares does Union Pacific have outstanding?

594,075,498 shares, as of July 17, 2026, from the cover page of its latest 10-Q. At the 2006 peak it had 1,083,009,224.

What do Union Pacific's buybacks mean for a shareholder?

Each share is a bigger slice of the company. Someone who held Union Pacific stock in 2006 owns 1.8 times as much of the business today without buying another share. Whether that was a good use of cash depends on the price paid.

How does Union Pacific compare with other cannibal stocks?

Union Pacific ranks No. 90 of 251 companies on Buyback Radar by share of the company retired since its peak. Close to it on the list: Corning (45.3%), Dollar Tree (45.3%), Citigroup (44.8%), Gartner (44.8%).

Every answer is computed from Union Pacific's own SEC filings and rebuilt every Monday. Latest count: 10-Q on EDGAR.

Superinvestors who own it

Bill NygrenHarris Associates3,844,522 shares, $1.0B, Q2 2026

Tom GaynerMarkel Group161,028 shares, $43.8M, Q2 2026

Tweedy BrowneTweedy, Browne19,185 shares, $5.2M, Q2 2026

Andreas HalvorsenViking Global Investors2,047,332 shares, $556.9M, Q2 2026

Tom RussoGardner Russo & Quinn25,841 shares, $7.0M, Q2 2026

Seth KlarmanBaupost Group1,185,395 shares, $322K, Q2 2026

Dan LoebThird Point350,000 shares, $95.2M, Q2 2026

From the latest 13F filings. All superinvestors.

Union Pacific