What smart money is saying about Delta
DAL
No fund has written a full thesis on Delta in our archive, but 2 fund letters report a position in it, most recently Cambiar Investors Opportunity Fund in September 2026.
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2
Reported positions
0
Bought
0
Sold
5
Letters
Position history
Between Q2 2026 and Q3 2026, 2 fund letters reported a position in Delta, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 2 positions
- September 2026
“A number of the portfolio’s transport positions – including FedEx, Delta, and Uber – declined in response to higher input prices (e.g. diesel).”
Delta - June 2026
“Individual outperformers in Industrials and Healthcare included Delta Air Lines, Centene, and Elevance Health. The price action in Delta has been the mirror image of energy stocks – i.e., drawdown in 1Q due to higher fuel prices and a subsequent rebound in 2Q as oil prices retreated. While it has not been a linear return, Delta has been a strong performer for the portfolio since our initial attachment in early 2024. Given the company’s industry-leading profitability and premium product focus, in tandem with an improved market structure for the airline industry, we remain constructive on the risk/reward profile for Delta.”
Delta
Also mentioned · 3
These funds discuss Delta as a competitor, benchmark or comparable, without disclosing a position in it.
- June 2026
“Top contributors: • Delta Air Lines was a contributor during the quarter.”
Delta - MentionedDiameterDecember 2025
“In aero, we’re with the consensus that the low-cost model in the US is broken and that United and Delta should earn more than 100% of industry net income.”
Delta - MentionedLegacy Ridge CapitalDecember 2024
“By the summer of last year even industry leaders United and Delta were still well below their pre-COVID highs and not much above their COVID lows.”
Delta
Read the letters behind these Delta positions
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