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Delta Air Lines
DAL

1,223 hedge funds and large institutions have $30.2B invested in Delta Air Lines in 2025 Q3 according to their latest regulatory filings, with 168 funds opening new positions, 463 increasing their positions, 387 reducing their positions, and 110 closing their positions.

New
Increased
Maintained
Reduced
Closed

53% more first-time investments, than exits

New positions opened: 168 | Existing positions closed: 110

20% more repeat investments, than reductions

Existing positions increased: 463 | Existing positions reduced: 387

16% more capital invested

Capital invested by funds: $26B → $30.2B (+$4.26B)

16% more call options, than puts

Call options by funds: $2.35B | Put options by funds: $2.02B

3% more funds holding

Funds holding: 1,182 → 1,223 (+41)

0.7% more ownership

Funds ownership: 80.79% → 81.49% (+0.7%)

8% less funds holding in top 10

Funds holding in top 10: 13 → 12 (-1)

Holders
1,223
Holders Change
+41
Holders Change %
+3.47%
% of All Funds
16.05%
Holding in Top 10
12
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-7.69%
% of All Funds
0.16%
New
168
Increased
463
Reduced
387
Closed
110
Calls
$2.35B
Puts
$2.02B
Net Calls
+$330M
Net Calls Change
+$367M

Top Buyers

1
Fidelity Investments
Fidelity Investments
Massachusetts
+$548M
2
Jane Street
Jane Street
New York
+$200M
3
Wellington Management Group
Wellington Management Group
Massachusetts
+$117M
4
Millennium Management
Millennium Management
New York
+$89.2M
5
Bank of New York Mellon
Bank of New York Mellon
New York
+$82.6M

Top Sellers

1
Pacer Advisors
Pacer Advisors
Pennsylvania
-$225M
2
Primecap Management
Primecap Management
California
-$108M
3
SAM
Silvercrest Asset Management
New York
-$99.8M
4
AQR Capital Management
AQR Capital Management
Connecticut
-$99.7M
5
Capital International Investors
Capital International Investors
California
-$99.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
Charles Schwab
26
Charles Schwab
California
$215M -$557K -9,766 -0.3%
PCM
27
PAR Capital Management
Massachusetts
$203M +$583K +10,210 +0.3%
Jane Street
28
Jane Street
New York
$202M +$200M +3,504,131 +5,972%
UBS Group
29
UBS Group
Switzerland
$202M -$22.9M -401,109 -10%
LSV Asset Management
30
LSV Asset Management
Illinois
$196M +$2.45M +42,878 +1%
Neuberger Berman Group
31
Neuberger Berman Group
New York
$194M +$17.2M +301,012 +10%
Massachusetts Financial Services
32
Massachusetts Financial Services
Massachusetts
$193M -$2.46M -43,097 -1%
N
33
Nuveen
North Carolina
$172M -$3.7M -64,908 -2%
Victory Capital Management
34
Victory Capital Management
Texas
$167M -$3.7M -64,893 -2%
Bank of America
35
Bank of America
North Carolina
$162M -$19.8M -347,354 -11%
Allianz Asset Management
36
Allianz Asset Management
Germany
$158M +$31.4M +550,480 +25%
Russell Investments Group
37
Russell Investments Group
United Kingdom
$151M +$2.72M +47,631 +2%
Thrivent Financial for Lutherans
38
Thrivent Financial for Lutherans
Minnesota
$150M +$13.4M +235,173 +10%
Millennium Management
39
Millennium Management
New York
$138M +$89.2M +1,563,820 +180%
JWBC
40
John W. Bristol & Co
New York
$133M -$2.56M -44,907 -2%
Royal Bank of Canada
41
Royal Bank of Canada
Ontario, Canada
$131M +$74.3M +1,302,139 +128%
LPU
42
Lansdowne Partners (UK)
United Kingdom
$130M +$41.7M +730,368 +47%
CCM
43
Candlestick Capital Management
Connecticut
$129M +$22.2M +388,317 +21%
SCA
44
Southpoint Capital Advisors
New York
$125M +$45.7M +800,000 +57%
BGIM
45
Brandywine Global Investment Management
Pennsylvania
$111M -$4.35M -76,139 -4%
HSBC Holdings
46
HSBC Holdings
United Kingdom
$111M -$9.62M -168,611 -8%
Raymond James Financial
47
Raymond James Financial
Florida
$111M +$37.2M +652,159 +50%
Ameriprise
48
Ameriprise
Minnesota
$108M -$80.5M -1,411,305 -43%
American Century Companies
49
American Century Companies
Missouri
$103M +$8.96M +157,049 +9%
Bank of Montreal
50
Bank of Montreal
Ontario, Canada
$102M +$15.9M +278,544 +18%
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DAL Hedge Fund Activity: Q3 2025 in Review

1,223 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Delta Air Lines (DAL) for Q3 2025, worth a combined $30.2B — up 16% from $26B a quarter earlier.

Buyers outnumbered sellers: 168 funds opened new DAL positions and 110 closed out — a net gain of 58 holders — while 463 added to existing stakes and 387 trimmed.

The largest buyer was Fidelity Investments, adding an estimated $548M. The largest seller was Pacer Advisors, cutting an estimated $225M.

  • 1,223 institutional investors held Delta Air Lines (DAL) as of Q3 2025, up from 1,182 in Q2 2025.
  • Funds reported $30.2B of Delta Air Lines stock for Q3 2025, up 16% quarter-over-quarter.
  • 168 funds opened new Delta Air Lines positions in Q3 2025 and 110 closed out, a net change of +58 holders.
  • The largest Delta Air Lines buyer in Q3 2025 was Fidelity Investments, an estimated $548M added.
  • The largest Delta Air Lines seller in Q3 2025 was Pacer Advisors, an estimated $225M sold.

Based on aggregated 13F filings for Q3 2025.