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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
FC
1251
Farringdon Capital
United Kingdom
– -$1.06M -21,582 Closed
WWM
1252
Whalen Wealth Management
Nevada
– -$1.02M -20,774 Closed
BPC
1253
Bryce Point Capital
New York
– -$951K -19,328 Closed
PR
1254
Payden & Rygel
California
– -$949K -19,300 Closed
MG
1255
Marex Group
– -$1.06M -18,557 Closed
BC
1256
Bridgefront Capital
Texas
– -$865K -17,594 Closed
CC
1257
Covalis Capital
United Kingdom
– -$859K -17,458 Closed
PL
1258
Perpetual Ltd
Australia
– -$844K -17,153 Closed
MCA
1259
Magnolia Capital Advisors
Mississippi
– -$665K -13,514 Closed
SC
1260
SummitTX Capital
Texas
– -$616K -12,532 Closed
PWM
1261
Prosperity Wealth Management
California
– -$592K -12,040 Closed
ST
1262
Somerset Trust
Pennsylvania
– -$541K -11,006 Closed
LC
1263
L1 Capital
Australia
– -$519K -10,544 Closed
NWMG
1264
National Wealth Management Group
Ohio
– -$501K -10,182 Closed
QOP
1265
Quinn Opportunity Partners
Virginia
– -$492K -10,000 Closed
ZIM
1266
Zacks Investment Management
Illinois
– -$482K -9,808 Closed
FAIM
1267
Financial Advocates Investment Management
Washington
– -$471K -9,576 Closed
N
1268
Numerai
California
– -$445K -9,040 Closed
EAM
1269
Erste Asset Management
Austria
– -$477K -8,352 Closed
NL
1270
NWAM LLC
Washington
– -$404K -7,603 Closed
PCMH
1271
Polymer Capital Management (HK)
Hong Kong
– -$368K -7,491 Closed
FCM
1272
Fieldview Capital Management
Michigan
– -$363K -7,377 Closed
GWM
1273
Gitterman Wealth Management
New Jersey
– -$358K -7,285 Closed
DWM
1274
Dakota Wealth Management
Florida
– -$308K -6,257 Closed
IC
1275
Iconiq Capital
California
– -$306K -6,229 Closed
49 50
51
52 53

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.