DELTA AIR LINES, INC.
Long book
$377.7M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+2.1%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsDELTA AIR LINES, INC. is a diversified fundamental manager, specialised in industrials (100% of the long book), running a $377.7M US long book across 3 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: WHEELS UP EXPERIENCE INC, REPUBLIC AIRWAYS HOLDINGS IN, JOBY AVIATION INC.
Over the last 9 quarters its long book ran on average 8.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-28.4%
Q2 2024
+36.5%
Q3 2024
-22.8%
Q4 2024
-36.6%
Q1 2025
+19.8%
Q2 2025
+66.4%
Q3 2025
-51.9%
Q4 2025
-21.3%
Q1 2026
+2.1%
Sector allocation
Industrials 100%
Long book by quarter
What does DELTA AIR own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 3 | $377.7M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 3 | $442.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 2 | $662.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 2 | $398.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 2 | $332.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 2 | $524.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Dec 3, 2024 | 5 | $837.4M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 5 | $711.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 5 | $993.7M | canonical | SEC ↗ |