Wealth Advisory Sells $15 Million in Delta Stock as Airline Lags Market Rally
Key Points
J. L. Bainbridge & Co. Inc. sold 258,492 shares of Delta Air Lines for an estimated $14.8 million in the third quarter.
Post-trade position, the wealth advisory reported holding 509,256 Delta shares valued at $28.9 million.
Delta now comprises 2.4% of fund AUM, which places it outside the fund's top five holdings.
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Florida-based wealth advisory J. L. Bainbridge & Co. Inc. reported a sale of 258,492 Delta Air Lines shares for an estimated $14.8 million in the third quarter.
What Happened
According to a filing with the U.S. Securities and Exchange Commission released on Friday, J. L. Bainbridge & Co. reduced its stake in Delta Air Lines (NYSE:DAL) by 258,492 shares in the third quarter. The estimated transaction value, based on the average closing price in the quarter, was approximately $14.8 million. Following the trade, the fund held 509,256 shares of Delta Air Lines.
What Else to Know
The sale reduced Delta Air Lines to 2.4% of the fund’s 13F reportable assets under management.
Top holdings after the filing:
- NASDAQ:MSFT: $164.85 million (13.9% of AUM)
- NASDAQ:AAPL: $122.68 million (10.4% of AUM)
- NASDAQ:GOOGL: $116.65 million (9.9% of AUM)
- NYSE:GS: $71.43 million (6% of AUM)
- NYSE:ETN: $59.86 million (5.1% of AUM)
As of Friday, shares of Delta Air Lines were priced at $59.64, up 8% over the past year and well underperforming the S&P 500's nearly 14% gain in the same period.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $61.9 billion |
| Net Income (TTM) | $4.5 billion |
| Dividend Yield | 1.3% |
| Price (as of market close Friday) | $59.64 |
Company Snapshot
- Delta provides scheduled air transportation for passengers and cargo, aircraft maintenance and engineering services, and vacation packages; operates a fleet of approximately 1,200 aircraft.
- The airline generates revenue primarily from passenger ticket sales, cargo transport, and ancillary services through both direct and third-party distribution channels.
- It serves individual travelers, corporate clients, and cargo customers across domestic U.S. and major international markets.
Delta Air Lines, Inc. is a leading global airline with a diversified network of domestic and international routes, anchored by major hub operations in the United States and strategic international markets. Its competitive position is strengthened by its broad service offering.
Foolish Take
Florida-based J.L. Bainbridge & Co., a family-focused wealth advisor with a long-term growth strategy and fee-only fiduciary approach, trimmed its Delta Air Lines stake last quarter, selling roughly $14.8 million worth of shares. The move lowered Delta to about 2.4% of Bainbridge’s portfolio but kept it among the firm’s meaningful positions, reflecting a modest recalibration rather than a shift in conviction.
Delta’s stock has gained about 8% over the past year, trailing the S&P 500’s 14% rise amid mixed airline sector performance. The company’s steady post-pandemic recovery has been supported by resilient demand and record quarterly operating revenue, but persistent cost pressures and volatile fuel prices have kept margins under scrutiny. Competitors American, Southwest, and United are down 9%, up 10%, and up 34% over the same period, respectively.
For a firm like J.L. Bainbridge, which manages more than $1 billion AUM for families and long-term investors, this type of trim aligns with its stated focus on financially resilient, well-managed companies while maintaining balance across growth sectors. With core holdings such as Microsoft, Apple, and Alphabet still dominating its portfolio, the Delta reduction fits a pattern of portfolio discipline—locking in gains where valuations have recovered and reinforcing a steady, diversified base for the next market cycle.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if above a certain threshold.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Stake: The ownership interest or investment held in a particular company by an individual or institution.
Top holdings: The largest investments in a fund's portfolio, typically ranked by market value.
Dividend yield: The annual dividend payment expressed as a percentage of a stock's current price.
Ancillary services: Additional services provided by a company beyond its main offerings, such as baggage fees or in-flight sales for airlines.
Direct and third-party distribution channels: Ways products or services are sold—either directly to customers or through intermediaries.
Hub operations: Central airports used by airlines as transfer points to route passengers to their destinations.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Apple, Goldman Sachs Group, and Microsoft. The Motley Fool recommends Delta Air Lines and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
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