- Quarter end
- 31 Dec 2025
- the date the book describes
- Filed
- 27 Oct 2026
- latest of these filings; the earliest 22 Jan 2026
- Managers listing it
- 34
- at least, of 95 tracked, among listed positions
- Comparable managers
- 92
- filed both Q3 2025 and Q4 2025; 21 listed it in both
- Shares listed
- 98,326,049
- combined, among listed positions
- Reported value
- $6.8bn
- combined, at the quarter end
Among the 92 comparable managers: 17 buyers (opened or added shares) and 23 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +11,588,881.
Managers listing DAL in Q4 2025
34 of 34 holders
Largest increases and reductions, by shares
Increases
- Wellington Management Group LLPexisting position · 13,811,787 shares now+7,994,004
- Fidelity (FMR LLC)existing position · 27,410,817 shares now+7,837,000
- Harris Associates LPexisting position · 19,666,515 shares now+6,144,645
- AQR Capital Management LLCexisting position · 6,155,776 shares now+1,890,521
- Holocene Advisors LPnew position · 1,741,768 shares now+1,741,768
Reductions
- Citadel Advisors LLCexisting position · 297,144 shares now-6,940,577
- Millennium Management LLCexisting position · 500,545 shares now-1,930,017
- Jane Street Group LLCexisting position · 2,042,846 shares now-1,519,960
- Marshall Wace LLPexisting position · 67,600 shares now-1,195,720
- Neuberger Berman Group LLCexisting position · 2,784,103 shares now-642,832
New positions and exits
New (4)
Exited (7)
- Two Sigma Investments LPwas $29m
- Tudor Investment Corpwas $19m
- Schonfeld Strategic Advisors LLCwas $7.3m
- Two Sigma Advisers LPwas $3.8m
- Hudson Bay Capital Management LPwas $1.0m
- Caxton Associates LLPwas $717k
- Quantbot Technologies LPwas $662k
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q2 2013 | 13 | $3.0bn | n.a. | n.a. |
| Q3 2013 | 12 | $3.6bn | n.a. | n.a. |
| Q4 2013 | 18 | $4.1bn | n.a. | n.a. |
| Q1 2014 | 17 | $4.8bn | n.a. | n.a. |
| Q2 2014 | 26 | $5.5bn | n.a. | n.a. |
| Q3 2014 | 23 | $4.4bn | n.a. | n.a. |
| Q4 2014 | 23 | $6.2bn | n.a. | n.a. |
| Q1 2015 | 22 | $5.2bn | n.a. | n.a. |
| Q2 2015 | 24 | $4.3bn | n.a. | n.a. |
| Q3 2015 | 26 | $4.6bn | n.a. | n.a. |
| Q4 2015 | 26 | $4.1bn | n.a. | n.a. |
| Q1 2016 | 27 | $4.1bn | n.a. | n.a. |
| Q2 2016 | 26 | $2.8bn | n.a. | n.a. |
| Q3 2016 | 28 | $3.4bn | n.a. | n.a. |
| Q4 2016 | 28 | $6.9bn | n.a. | n.a. |
| Q1 2017 | 24 | $5.6bn | n.a. | n.a. |
| Q2 2017 | 30 | $6.8bn | n.a. | n.a. |
| Q3 2017 | 28 | $5.8bn | n.a. | n.a. |
| Q4 2017 | 28 | $7.5bn | n.a. | n.a. |
| Q1 2018 | 29 | $6.9bn | n.a. | n.a. |
| Q2 2018 | 24 | $6.2bn | n.a. | n.a. |
| Q3 2018 | 26 | $7.5bn | n.a. | n.a. |
| Q4 2018 | 29 | $6.7bn | n.a. | n.a. |
| Q1 2019 | 25 | $6.7bn | n.a. | n.a. |
| Q2 2019 | 28 | $7.7bn | n.a. | n.a. |
| Q3 2019 | 25 | $7.9bn | n.a. | n.a. |
| Q4 2019 | 22 | $7.7bn | n.a. | n.a. |
| Q1 2020 | 16 | $3.0bn | n.a. | n.a. |
| Q2 2020 | 7 | $716m | n.a. | n.a. |
| Q3 2020 | 10 | $996m | n.a. | n.a. |
| Q4 2020 | 17 | $2.1bn | n.a. | n.a. |
| Q1 2021 | 18 | $2.8bn | n.a. | n.a. |
| Q2 2021 | 16 | $2.1bn | n.a. | n.a. |
| Q3 2021 | 15 | $2.2bn | n.a. | n.a. |
| Q4 2021 | 15 | $2.2bn | n.a. | n.a. |
| Q1 2022 | 15 | $2.6bn | n.a. | n.a. |
| Q2 2022 | 12 | $1.9bn | n.a. | n.a. |
| Q3 2022 | 14 | $1.9bn | n.a. | n.a. |
| Q4 2022 | 17 | $2.3bn | n.a. | n.a. |
| Q1 2023 | 16 | $2.2bn | n.a. | n.a. |
| Q2 2023 | 18 | $3.0bn | n.a. | n.a. |
| Q3 2023 | 16 | $2.1bn | n.a. | n.a. |
| Q4 2023 | 17 | $1.9bn | 12 | 6 |
| Q1 2024 | 16 | $2.6bn | 13 | 4 |
| Q2 2024 | 19 | $3.8bn | 12 | 10 |
| Q3 2024 | 20 | $3.7bn | 16 | 6 |
| Q4 2024 | 24 | $4.6bn | 14 | 12 |
| Q1 2025 | 20 | $2.8bn | 16 | 7 |
| Q2 2025 | 21 | $3.4bn | 13 | 11 |
| Q3 2025 | 25 | $4.8bn | 16 | 9 |
| Q4 2025 | 19 | $6.5bn | 17 | 23 |
| Q1 2026 | 15 | $7.7bn | 10 | 27 |
| Q2 2026 | 17 | $12.6bn | 18 | 20 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
DAL and KLAC →DAL and GE →DAL and LRCX →Choose a stock to compare with DAL →
How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own DAL, latest filings →Back to the 13F Explorer →