Cliff Asness's DAL Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 4.27 M shares of Delta Air Lines, Inc. (DAL) worth $242.05 M, representing 0.16% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 52 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in DAL, representing a significant commitment to this investment thesis. Largest addition occurred in Q3 2019, adding 4.44 M shares. Largest reduction occurred in Q2 2020, reducing 3.31 M shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's Delta Air Lines (DAL) Holding Value Over Time
Track share changes against reported price movement
Quarterly Delta Air Lines (DAL) Trades by Cliff Asness
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2012 | +2.89 M | Add 0.00% | 2.89 M | $11.87 |
| Q2 2013 | +2.66 M | Add 0.00% | 2.66 M | $18.71 |
| Q3 2013 | -52,059 | Reduce 1.96% | 2.61 M | $23.59 |
| Q4 2013 | -322,887 | Reduce 12.38% | 2.29 M | $27.47 |
| Q1 2014 | -314,179 | Reduce 13.74% | 1.97 M | $34.65 |
| Q2 2014 | +404,100 | Add 20.49% | 2.38 M | $38.72 |
| Q3 2014 | +829,682 | Add 34.92% | 3.21 M | $36.15 |
| Q4 2014 | +1.61 M | Add 50.17% | 4.81 M | $49.19 |
| Q1 2015 | -983,136 | Reduce 20.42% | 3.83 M | $44.96 |
| Q2 2015 | -198,034 | Reduce 5.17% | 3.63 M | $41.08 |
| Q3 2015 | +2.4 M | Add 66.13% | 6.04 M | $44.87 |
| Q4 2015 | -524,433 | Reduce 8.69% | 5.51 M | $50.69 |
| Q1 2016 | +1.81 M | Add 32.82% | 7.32 M | $48.68 |
| Q2 2016 | -1.87 M | Reduce 25.56% | 5.45 M | $36.43 |
| Q3 2016 | -242,070 | Reduce 4.44% | 5.21 M | $39.36 |
| Q4 2016 | +3.06 M | Add 58.70% | 8.26 M | $49.19 |
| Q1 2017 | +1.31 M | Add 15.83% | 9.57 M | $45.96 |
| Q2 2017 | -2.6 M | Reduce 27.21% | 6.97 M | $53.74 |
| Q3 2017 | -2.29 M | Reduce 32.86% | 4.68 M | $48.22 |
| Q4 2017 | -124,148 | Reduce 2.65% | 4.55 M | $56.00 |
| Q1 2018 | +591,083 | Add 12.98% | 5.15 M | $54.81 |
| Q2 2018 | -641,766 | Reduce 12.47% | 4.5 M | $49.54 |
| Q3 2018 | -2.72 M | Reduce 60.39% | 1.78 M | $57.83 |
| Q4 2018 | +1.47 M | Add 82.48% | 3.26 M | $49.90 |
| Q1 2019 | -2.58 M | Reduce 79.25% | 675,351 | $51.27 |
| Q2 2019 | +1.4 M | Add 207.31% | 2.08 M | $56.75 |
| Q3 2019 | +4.44 M | Add 214.02% | 6.52 M | $57.60 |
| Q4 2019 | -730,416 | Reduce 11.21% | 5.79 M | $58.48 |
| Q1 2020 | -2.42 M | Reduce 41.80% | 3.37 M | $28.53 |
| Q2 2020 | -3.31 M | Reduce 98.29% | 57,602 | $27.85 |
| Q3 2020 | -57,602 | Sold Out | 57,602 | $0.00 |
| Q4 2020 | +48,337 | New Buy | 48,337 | $39.97 |
| Q1 2021 | +213,278 | Add 441.23% | 261,615 | $48.28 |
| Q2 2021 | +242,630 | Add 92.74% | 504,245 | $43.13 |
| Q3 2021 | -352,275 | Reduce 69.86% | 151,970 | $42.61 |
| Q4 2021 | +191,437 | Add 125.97% | 343,407 | $39.08 |
| Q1 2022 | +139,813 | Add 40.71% | 483,220 | $39.57 |
| Q2 2022 | -90,454 | Reduce 18.72% | 392,766 | $28.26 |
| Q3 2022 | +362,328 | Add 92.25% | 755,094 | $28.06 |
| Q4 2022 | -71,217 | Reduce 9.43% | 683,877 | $32.60 |
| Q1 2023 | +1.44 M | Add 211.12% | 2.13 M | $34.62 |
| Q2 2023 | -970,977 | Reduce 45.64% | 1.16 M | $46.63 |
| Q3 2023 | -74,418 | Reduce 6.43% | 1.08 M | $37.00 |
| Q4 2023 | -274,883 | Reduce 25.40% | 807,409 | $40.23 |
| Q1 2024 | +27,871 | Add 3.45% | 835,280 | $47.81 |
| Q2 2024 | -57,849 | Reduce 6.93% | 777,431 | $47.44 |
| Q3 2024 | +3.67 M | Add 471.62% | 4.44 M | $50.79 |
| Q4 2024 | -2.06 M | Reduce 46.30% | 2.39 M | $60.50 |
| Q1 2025 | +3.58 M | Add 149.91% | 5.96 M | $41.33 |
| Q2 2025 | +48,974 | Add 0.82% | 6.01 M | $49.18 |
| Q3 2025 | -1.75 M | Reduce 29.06% | 4.27 M | $56.75 |
Cliff Asness's Delta Air Lines Investment FAQs
Cliff Asness first purchased Delta Air Lines, Inc. (DAL) in Q4 2012, acquiring 2,894,353 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held Delta Air Lines, Inc. (DAL) for 52 quarters since Q4 2012. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's largest addition to Delta Air Lines, Inc. (DAL) was in Q3 2019, adding 6,517,207 shares worth $375.39 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 4,265,255 shares of Delta Air Lines, Inc. (DAL), valued at approximately $242.05 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, Delta Air Lines, Inc. (DAL) represents approximately 0.16% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's peak holding in Delta Air Lines, Inc. (DAL) was 9,571,378 shares, as reported at the end of Q1 2017. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.