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Who are the biggest shareholders in Frontier Airlines?The biggest shareholders in Frontier Airlines’ parent company, Frontier Group Holdings Inc. (NASDAQ: ULCC), are a mix of controlling insiders/affiliates and institutional investors. Ownership data is based on the latest available regulatory filings and institutional reports as of mid-2025 (primarily from Q2 2025 13F filings, with the 5%+ beneficial ownership from a late 2024 Schedule 13D/G that appears unchanged). Total shares outstanding are approximately 225 million.

Major Beneficial Owners (5%+ Holders)

• Indigo Frontier Holdings Company, LLC (affiliate of Indigo Partners LLC): 99,477,799 shares (44.1%). This is the controlling stakeholder, affiliated with private equity firm Indigo Partners, founded by Bill Franke (Chairman of Frontier Group Holdings). Indigo Partners specializes in ultra-low-cost carriers and holds significant influence over the company.

• Wildcat Capital Management, LLC: 28,061,351 shares (approximately 12.5%). This is the family office of David Bonderman, a board member and investor with ties to the airline industry.

No other 5%+ beneficial owners were reported in recent Schedule 13D/G filings.

Top Institutional Shareholders

These represent the largest non-insider institutional positions (excluding the above affiliates). Institutions hold about 54.6% of total shares, but 107% of the float (non-insider shares), indicating heavy institutional interest in the public portion.

1. Vanguard Group Inc.: 7,878,532 shares (approximately 3.5%).

2. BlackRock Inc.: 6,415,851 shares (approximately 2.9%).

3. U.S. Global Investors Inc. (primarily via U.S. Global Jets ETF): 6,204,862 shares (approximately 2.8%).

4. Dimensional Fund Advisors LP: 3,835,013 shares (approximately 1.7%).

5. Citigroup Inc.: 2,476,120 shares (approximately 1.1%).

6. Geode Capital Management, LLC: 2,060,452 shares (approximately 0.9%).

7. State Street Corp.: 1,916,424 shares (approximately 0.9%).

Additional Notes on Ownership

• Insider Ownership: Collectively, directors, executive officers, and affiliates hold 49.2% of shares. This includes the Indigo stake and smaller positions by individuals like CEO Barry Biffle and Chairman Bill Franke. • Ownership can change with market activity, new filings, or stock transactions. For the most current details, check recent SEC filings (e.g., 13F, 13D/G) or sites like NASDAQ/Yahoo Finance.