Cliff Asness's DAL Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 6.16 M shares of Delta Air Lines, Inc. (DAL) worth $426.44 M, representing 0.22% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 53 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
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +1.89 M | Add 44.32% | 6.16 M | $69.27 |
| Q3 2025 | -1.75 M | Reduce 29.06% | 4.27 M | $56.75 |
| Q2 2025 | +48,974 | Add 0.82% | 6.01 M | $49.18 |
| Q1 2025 | +3.58 M | Add 149.91% | 5.96 M | $41.33 |
| Q4 2024 | -2.06 M | Reduce 46.30% | 2.39 M | $60.50 |
| Q3 2024 | +3.67 M | Add 471.62% | 4.44 M | $50.79 |
| Q2 2024 | -57,849 | Reduce 6.93% | 777,431 | $47.44 |
| Q1 2024 | +27,871 | Add 3.45% | 835,280 | $47.81 |
| Q4 2023 | -274,883 | Reduce 25.40% | 807,409 | $40.23 |
| Q3 2023 | -74,418 | Reduce 6.43% | 1.08 M | $37.00 |
| Q2 2023 | -970,977 | Reduce 45.64% | 1.16 M | $46.63 |
| Q1 2023 | +1.44 M | Add 211.12% | 2.13 M | $34.62 |
| Q4 2022 | -71,217 | Reduce 9.43% | 683,877 | $32.60 |
| Q3 2022 | +362,328 | Add 92.25% | 755,094 | $28.06 |
| Q2 2022 | -90,454 | Reduce 18.72% | 392,766 | $28.26 |
| Q1 2022 | +139,813 | Add 40.71% | 483,220 | $39.57 |
| Q4 2021 | +191,437 | Add 125.97% | 343,407 | $39.08 |
| Q3 2021 | -352,275 | Reduce 69.86% | 151,970 | $42.61 |
| Q2 2021 | +242,630 | Add 92.74% | 504,245 | $43.13 |
| Q1 2021 | +213,278 | Add 441.23% | 261,615 | $48.28 |
| Q4 2020 | +48,337 | New Buy | 48,337 | $39.97 |
| Q3 2020 | -57,602 | Sold Out | 0 | $0.00 |
| Q2 2020 | -3.31 M | Reduce 98.29% | 57,602 | $27.85 |
| Q1 2020 | -2.42 M | Reduce 41.80% | 3.37 M | $28.53 |
| Q4 2019 | -730,416 | Reduce 11.21% | 5.79 M | $58.48 |
| Q3 2019 | +4.44 M | Add 214.02% | 6.52 M | $57.60 |
| Q2 2019 | +1.4 M | Add 207.31% | 2.08 M | $56.75 |
| Q1 2019 | -2.58 M | Reduce 79.25% | 675,351 | $51.27 |
| Q4 2018 | +1.47 M | Add 82.48% | 3.26 M | $49.90 |
| Q3 2018 | -2.72 M | Reduce 60.39% | 1.78 M | $57.83 |
| Q2 2018 | -641,766 | Reduce 12.47% | 4.5 M | $49.54 |
| Q1 2018 | +591,083 | Add 12.98% | 5.15 M | $54.81 |
| Q4 2017 | -124,148 | Reduce 2.65% | 4.55 M | $56.00 |
| Q3 2017 | -2.29 M | Reduce 32.86% | 4.68 M | $48.22 |
| Q2 2017 | -2.6 M | Reduce 27.21% | 6.97 M | $53.74 |
| Q1 2017 | +1.31 M | Add 15.83% | 9.57 M | $45.96 |
| Q4 2016 | +3.06 M | Add 58.70% | 8.26 M | $49.19 |
| Q3 2016 | -242,070 | Reduce 4.44% | 5.21 M | $39.36 |
| Q2 2016 | -1.87 M | Reduce 25.56% | 5.45 M | $36.43 |
| Q1 2016 | +1.81 M | Add 32.82% | 7.32 M | $48.68 |
| Q4 2015 | -524,433 | Reduce 8.69% | 5.51 M | $50.69 |
| Q3 2015 | +2.4 M | Add 66.13% | 6.04 M | $44.87 |
| Q2 2015 | -198,034 | Reduce 5.17% | 3.63 M | $41.08 |
| Q1 2015 | -983,136 | Reduce 20.42% | 3.83 M | $44.96 |
| Q4 2014 | +1.61 M | Add 50.17% | 4.81 M | $49.19 |
| Q3 2014 | +829,682 | Add 34.92% | 3.21 M | $36.15 |
| Q2 2014 | +404,100 | Add 20.49% | 2.38 M | $38.72 |
| Q1 2014 | -314,179 | Reduce 13.74% | 1.97 M | $34.65 |
| Q4 2013 | -322,887 | Reduce 12.38% | 2.29 M | $27.47 |
| Q3 2013 | -52,059 | Reduce 1.96% | 2.61 M | $23.59 |
| Q2 2013 | +2.66 M | Add 0.00% | 2.66 M | $18.71 |
| Q4 2012 | +2.89 M | Add 0.00% | 2.89 M | $11.87 |
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 53 quarters since Q4 2012.
Cliff Asness's largest addition to Delta Air Lines, Inc. (DAL) was in Q3 2019, adding 6,517,207 shares worth $375.39 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 6,155,776 shares of Delta Air Lines, Inc. (DAL), valued at approximately $426.44 M.
As of the Q4 2025 filing, Delta Air Lines, Inc. (DAL) represents approximately 0.22% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in Delta Air Lines, Inc. (DAL) was 9,571,378 shares, as reported at the end of Q1 2017.