If you walk into a Dick’s Sporting Goods or scroll through Fanatics, you’ll see the interlocking "UA" logo everywhere. It feels like one of those massive, faceless corporations. But the reality of the owner of Under Armour is way more personal—and frankly, a bit more chaotic—than most people realize.
It’s not just one person in a suit.
Actually, the story of who calls the shots at Under Armour is currently a tug-of-war between a billionaire founder who can’t seem to stay away and a Canadian "Warren Buffett" who is quietly snapping up every share he can get his hands on.
The Founder Who Returned: Kevin Plank
Kevin Plank is the guy most people think of when they ask about the owner of Under Armour. He started the company in 1996 in his grandmother’s basement in Georgetown. Back then, he was just a former Maryland football player tired of soaking through cotton T-shirts. He built a multi-billion dollar empire on the back of a single moisture-wicking synthetic shirt.
But here’s where it gets interesting.
👉 See also: 65 British Pounds to US Dollars: Why the Math Usually Feels Wrong
Plank stepped down as CEO in 2020. People thought he was done. He stayed on as Executive Chairman while Patrik Frisk and later Stephanie Linnartz tried to right the ship. Then, in a move that shocked the retail world in April 2024, Plank pulled a "Steve Jobs" and came back as CEO.
As of early 2026, Kevin Plank is once again the President and CEO. He isn't the sole owner—Under Armour is a public company traded on the NYSE under the tickers UAA and UA—but he controls the vote. Thanks to a dual-class share structure, his Class B shares give him roughly 10 votes for every one vote a regular investor has. Basically, if Kevin wants to go left, the company goes left.
The New Power Player: Prem Watsa and Fairfax Financial
While Plank has the voting power, the "math" of the ownership is shifting. Enter Prem Watsa. He’s the head of Fairfax Financial Holdings, and lately, he’s been acting like he wants to own the whole building.
In early January 2026, Fairfax Financial disclosed they had bumped their stake to a massive 22.2%. That’s over 51 million shares. Watsa is a contrarian investor. He likes buying things when they look "broken" or undervalued, and Under Armour’s stock has had a rough couple of years.
You’ve got a situation where the founder has the keys to the car, but an institutional giant now owns a huge chunk of the engine. It’s a delicate balance.
Does Anyone Else Own a Piece?
Since it’s a public company, thousands of people "own" Under Armour. If you have a 401(k) or an index fund, you might technically be a part-owner of Under Armour.
Big institutional names show up on the cap table:
- Vanguard Group: They usually hold around 7-8% of the company.
- BlackRock: Another giant holding a significant slice for their clients.
- BDT Capital Partners: They’ve historically been a major private equity supporter of Plank’s vision.
Why Ownership Matters Right Now
Under Armour is in the middle of a massive "reset." They just announced another leadership shakeup on January 16, 2026, moving Kara Trent into the Chief Merchandising Officer role and Adam Peake to President of the Americas.
Why? Because the brand is struggling in North America. Sales were down about 5% in the last reported quarter of 2025. Plank is trying to make the brand "premium" again, which basically means fewer discounts at TJ Maxx and more high-end gear that people actually want to pay full price for.
Honestly, the owner of Under Armour (the collective "they") is betting the farm on this turnaround. They’re cutting 25% of their products (SKUs) to simplify things. It’s a "less is more" strategy that investors are watching with a skeptical eye.
Actionable Insights for Fans and Investors
If you're looking at Under Armour today, here is what the ownership situation actually tells you:
- Founder-Led Risk: Kevin Plank’s return means the company is once again tied to his personal brand and intuition. This can lead to fast decisions, but it also means there’s less "checks and balances" compared to a typical corporate CEO.
- The "Watsa" Effect: Watch Fairfax Financial’s filings. If Prem Watsa keeps buying, it’s a signal that the big money thinks the stock is bottoming out.
- Watch the "Premium" Shift: Since the owners want to end the "constant sale" cycle, expect prices at the register to stay firm. If you see fewer Under Armour items in the clearance rack, the strategy is working.
- Institutional Stability: Despite the drama, the presence of Vanguard and BlackRock means the company isn't going anywhere. It’s a stable, albeit struggling, pillar of the sports world.
The owner of Under Armour isn't a single person, but the company’s soul is still very much in Kevin Plank’s hands. Whether he can capture lightning in a bottle for a second time is the billion-dollar question.
Keep an eye on the next quarterly earnings report in early 2026. That will be the first real test of whether Plank’s "new" leadership team and Watsa’s massive investment are actually paying off or if the brand is just treading water in a sea of Nike and Hoka.
To stay ahead of these shifts, you should monitor the SEC Form 4 filings for Under Armour. These documents reveal whenever Kevin Plank or Prem Watsa buys or sells shares, giving you a real-time look at how much skin they actually have in the game. You can also track the UAA ticker to see if the market is finally buying into the "premium" pivot.