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See Which Of The Latest 13F Filers Holds Delta Air Lines

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At Holdings Channel , we have reviewed the latest batch of the 147 most recent 13F filings for the 09/30/2015 reporting period, and noticed that Delta Air Lines, Inc. (Symbol: DAL) was held by 30 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.

Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen .

Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in DAL positions, for this latest batch of 13F filers:

Fund New Position? Change In Share Count Change In Market Value($ in 1000's)
Ardsley Advisory Partners Existing +2,500 +$145
National Asset Management Inc. Existing +2,237 +$126
ISF Management LLC Existing -73,941 -$2,384
Visium Asset Management LP Existing -2,472 +$1,260
AQR Capital Management LLC Existing +2,402,674 +$121,577
Arrowgrass Capital Partners US LP Existing -6,268 +$158
Atria Investments LLC Existing -1,445 -$9
Archer Capital Management L.P. Existing +214,086 +$11,547
Cyrus Capital Partners L.P. Existing +2,138,617 +$101,637
Cloud Gate Capital LLC Existing +88,786 +$1,088
D. E. Shaw & Co. Inc. Existing -879,007 -$33,545
Gotham Asset Management LLC Existing +157,863 +$12,722
Leuthold Group LLC Existing -40,430 -$560
Millennium Management LLC Existing +970,817 +$47,827
MSD Partners L.P. Existing -434,740 -$13,509
Nokota Management LP Existing +166,291 +$8,693
Paloma Partners Management Co NEW +59,126 +$2,653
Point72 Asset Management L.P. Existing -648,700 -$23,981
Tyvor Capital LLC Existing -448,315 -$18,302
Mitsubishi UFJ Trust & Banking Corp Existing -20,942 +$641
Ken Stern & Associates Inc. NEW +6,468 +$266
Ken Stern & Associates Inc. NEW +6,468 +$266
Lateef Investment Management L.P. Existing -19,725 -$522
Gemmer Asset Management LLC Existing +148 +$7
Nicholas Investment Partners LP Existing -1,078 +$633
Janus Capital Management LLC Existing -2,562,334 -$99,451
Dimensional Fund Advisors LP Existing -102,647 +$4,229
Fiera Capital Corp Existing -500 +$301
Dimensional Fund Advisors LP Existing -102,647 +$4,229
Raymond James Financial Services Advisors Inc. Existing +100,164 +$4,587
Aggregate Change: +971,054 +$132,329

In terms of shares owned, we count 11 of the above funds having increased existing DAL positions from 06/30/2015 to 09/30/2015, with 16 having decreased their positions and 3 new positions. Worth noting is that Blue Arrow Capital Management LLC , Falcon Edge Capital LP , and PointState Capital LP , included in this recent batch of 13F filers, exited DAL common stock as of 09/30/2015.

Looking beyond these particular funds in this one batch of most recent filers, we tallied up the DAL share count in the aggregate among all of the funds which held DAL at the 09/30/2015 reporting period (out of the 3,861 we looked at in total). We then compared that number to the sum total of DAL shares those same funds held back at the 06/30/2015 period, to see how the aggregate share count held by hedge funds has moved for DAL. We found that between these two periods, funds increased their holdings by 4,123,554 shares in the aggregate, from 647,213,267 up to 651,336,821 for a share count increase of approximately 0.64%. The overall top three funds holding DAL on 09/30/2015 were:

Fund Shares of DAL Held
1. Vanguard Group Inc. 42,875,340
2. JPMorgan Chase & Co. 34,027,290
3. Capital World Investors 28,049,603
4-10 Find out the full Top 10 Hedge Funds Holding DAL

We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Delta Air Lines, Inc. (Symbol: DAL).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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