Delta Air Lines
DAL
1,331 hedge funds and large institutions have $38.6B invested in Delta Air Lines in 2025 Q4 according to their latest regulatory filings, with 238 funds opening new positions, 495 increasing their positions, 389 reducing their positions, and 104 closing their positions.
129% more first-time investments, than exits
New positions opened: 238 | Existing positions closed: 104
28% more capital invested
Capital invested by funds: $30.2B → $38.6B (+$8.34B)
27% more repeat investments, than reductions
Existing positions increased: 495 | Existing positions reduced: 389
25% more funds holding in top 10
Funds holding in top 10: 12 → 15 (+3)
9% more funds holding
Funds holding: 1,226 → 1,331 (+105)
3.62% more ownership
Funds ownership: 81.49% → 85.12% (+3.6%)
2% less call options, than puts
Call options by funds: $2.17B | Put options by funds: $2.21B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wellington Management Group
Boston,
Massachusetts
|
+$499M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$490M |
| 3 |
Harris Associates
Chicago,
Illinois
|
+$384M |
| 4 |
Pacer Advisors
Malvern,
Pennsylvania
|
+$157M |
| 5 |
AQR Capital Management
Greenwich,
Connecticut
|
+$118M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$434M |
| 2 |
Millennium Management
New York
|
-$121M |
| 3 |
Jane Street
New York
|
-$95M |
| 4 |
JP Morgan Chase
New York
|
-$92.9M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$88.6M |
DAL Hedge Fund Activity: Q4 2025 in Review
1,331 of the 8,284 institutional investors tracked by Wall St. Rank reported a position in Delta Air Lines (DAL) for Q4 2025, worth a combined $38.6B — up 28% from $30.2B a quarter earlier.
Buyers outnumbered sellers: 238 funds opened new DAL positions and 104 closed out — a net gain of 134 holders — while 495 added to existing stakes and 389 trimmed.
The largest buyer was Wellington Management Group, adding an estimated $499M. The largest seller was Citadel Advisors, cutting an estimated $434M.
- 1,331 institutional investors held Delta Air Lines (DAL) as of Q4 2025, up from 1,226 in Q3 2025.
- Funds reported $38.6B of Delta Air Lines stock for Q4 2025, up 28% quarter-over-quarter.
- 238 funds opened new Delta Air Lines positions in Q4 2025 and 104 closed out, a net change of +134 holders.
- The largest Delta Air Lines buyer in Q4 2025 was Wellington Management Group, an estimated $499M added.
- The largest Delta Air Lines seller in Q4 2025 was Citadel Advisors, an estimated $434M sold.
Based on aggregated 13F filings for Q4 2025.