UNITED AIRLS HLDGS INC

Ticker: UAL CUSIP: 910047109 Class: COM

TRAN CAPITAL MANAGEMENT, L.P.'s Holding History (CIK: 0001009262)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 28,500 Value ($000) $1,633 Avg Close $57.74 Range $49.76 - $61.87

Q3 2015

Shares 41,300 Value ($000) $2,191 Avg Close $56.42 Range $49.20 - $62.21

Q2 2015

Shares 63,150 Value ($000) $3,348 Avg Close $57.89 Range $49.85 - $65.85

Q1 2015

Shares 54,900 Value ($000) $3,692 Avg Close $67.75 Range $62.37 - $74.52

Q4 2014

Shares 68,150 Value ($000) $4,559 Avg Close $55.38 Range $39.46 - $67.77

Q3 2014

Shares 87,045 Value ($000) $4,073 Avg Close $46.41 Range $36.65 - $52.45

Q2 2014

Shares 93,745 Value ($000) $3,850 Avg Close $43.09 Range $38.06 - $48.20

Q1 2014

Shares 89,245 Value ($000) $3,983 Avg Close $44.98 Range $37.50 - $49.20

Q4 2013

Shares 101,695 Value ($000) $3,847 Avg Close $35.03 Range $29.11 - $40.19

Q3 2013

Shares 119,295 Value ($000) $3,664 Avg Close $32.18 Range $27.32 - $36.74

Q2 2013

Shares 120,020 Value ($000) $3,755 Avg Close $31.81 Range $27.90 - $35.27

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	28,500	$1,633	$57.74	$49.76 - $61.87
Q3 2015	41,300	$2,191	$56.42	$49.20 - $62.21
Q2 2015	63,150	$3,348	$57.89	$49.85 - $65.85
Q1 2015	54,900	$3,692	$67.75	$62.37 - $74.52
Q4 2014	68,150	$4,559	$55.38	$39.46 - $67.77
Q3 2014	87,045	$4,073	$46.41	$36.65 - $52.45
Q2 2014	93,745	$3,850	$43.09	$38.06 - $48.20
Q1 2014	89,245	$3,983	$44.98	$37.50 - $49.20
Q4 2013	101,695	$3,847	$35.03	$29.11 - $40.19
Q3 2013	119,295	$3,664	$32.18	$27.32 - $36.74
Q2 2013	120,020	$3,755	$31.81	$27.90 - $35.27