Delta Air Lines, Inc.
MX ˙ BMV ˙ US2473617023
SecurityMX:DAL / Delta Air Lines, Inc.
InstitutionNarwhal Capital Management
Latest Disclosed Ownership16,850 shares
Latest Disclosed Value $ 1,120,188
Narwhal Capital Management ownership in DAL / Delta Air Lines, Inc.

On April 23, 2026 - Narwhal Capital Management filed a 13F-HR form disclosing ownership of 16,850 shares of Delta Air Lines, Inc. (MX:DAL) valued at $1,120,188 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 30, 2026 disclosing 16,850 shares of Delta Air Lines, Inc.. This represents a change in shares of 0.00% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-04-23 2026-03-31 13F DELTA AIR LINES COM NEW 247361702 16,850 0 0.00 1,120 -4.19 0.0826
2026-01-30 2025-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,850 0 0.00 1,169 22.28 0.0850
2025-10-24 2025-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,850 0 0.00 956 15.46 0.0708
2025-07-23 2025-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,850 -107 -0.63 829 12.04 0.0665
2025-04-23 2025-03-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,957 0 0.00 739 -27.90 0.0659
2025-01-22 2024-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,957 0 0.00 1,026 19.05 0.0907
2024-10-22 2024-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 16,957 -6,093 -26.43 861 -21.23 0.0775
2024-08-05 2024-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 23,050 -4,000 -14.79 1,093 -15.53 0.1035
2024-04-26 2024-03-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 27,050 -8,350 -23.59 1,295 -9.13 0.1268
2024-01-25 2023-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 35,400 -1,789 -4.81 1,424 3.56 0.1556
2023-10-30 2023-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 37,189 -20 -0.05 1,376 -22.23 0.1679
2023-08-03 2023-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 37,209 -2,000 -5.10 1,769 29.15 0.2079
2023-05-02 2023-03-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 39,209 0 0.00 1,369 6.29 0.1713
2023-01-31 2022-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 39,209 0 0.00 1,288 17.09 0.1714
2022-11-01 2022-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 39,209 9 0.02 1,100 -3.17 0.1593
2022-08-01 2022-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 39,200 500 1.29 1,136 -25.80 0.1557
2022-04-26 2022-03-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,700 0 0.00 1,531 1.26 0.1792
2022-01-26 2021-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,700 0 0.00 1,512 -8.31 0.1720
2021-10-22 2021-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,700 -160 -0.41 1,649 -1.90 0.2081
2021-07-29 2021-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,860 197 0.51 1,681 -9.96 0.2122
2021-04-23 2021-03-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,663 -24 -0.06 1,867 19.99 0.2525
2021-02-02 2020-12-31 13F DELTA AIR LINES INC DEL COM NEW 247361702 38,687 4,087 11.81 1,556 47.07 0.2206
2020-10-26 2020-09-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 34,600 11,700 51.09 1,058 64.80 0.1706
2020-07-22 2020-06-30 13F DELTA AIR LINES INC DEL COM NEW 247361702 22,900 22,900 642 0.1112
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.