In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Delta Accumulation, LLC reported 22 stock positions worth $11.2 million . Its top holding was US Bancorp (USB) at 13.6% of the portfolio, followed by PNC Financial Services (PNC, 13.5% ) and Meta Platforms Class A (META, 13.5% ). Compared with Q4 2024, it opened 1 new position, sold out of 2, added to 7 and reduced 7. The biggest buy was PNC Financial Services (PNC, shares +100% ) and the biggest sale Tyson Foods Class A (TSN, shares −99% ).
Location SAUSALITO, CA
CIK 0001808389
Portfolio Value $11.2M (Q1 2025) Holdings 22 stocks · $11.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 USB US Bancorp 33,489 $1.5M Add +0.0% PNC PNC Financial Services Group 8,206 $1.5M Add +99.9% META Meta Platforms Inc. Class A 2,647 $1.5M No change PANW Palo Alto Networks Inc. 7,770 $1.3M Reduce -0.9% QQQ Invesco QQQ Trust Series 1 2,308 $1.1M Add +0.1% HCA HCA Healthcare Inc. 2,500 $1.0M No change MSFT Microsoft Corp. 1,626 $700K Add +0.2% NVDA Nvidia Corp. 5,000 $607K Reduce -50.0% MA Mastercard Inc. Class A 1,024 $506K Add +0.1% ABNB Airbnb Inc. Class A 3,847 $488K No change TSLA Tesla Inc. 1,395 $365K Add +253.2% SGOV iShares 0-3 Month Treasury B 2,853 $287K No change BAC Bank of America Corp. filed as BANK AMERICA CORP 5,667 $225K Add +0.6% TSN Tyson Foods Inc. Class A 119 $7K Reduce -99.4% WFC Wells Fargo & Co. 73 $4K No change TFC Truist Financial Corp. 39 $2K Reduce -99.8% SBUX Starbucks Corp. 14 $1K No change TCOM Trip.com Group Ltd.-ADR 20 $1K No change JPM JPMorgan Chase & Co. 4 $843 New GIS General Mills Inc. 7 $517 Reduce -99.9% DG Dollar General Corp. 3 $254 Reduce -100.0% BMY Bristol-Myers Squibb Co. 2 $103 Reduce -100.0%
Options reported separately and not counted above: COST puts ($245.3M), COST calls ($130.7M), JPM puts ($129.3M), JPM calls ($98.2M), SPY puts ($72.5M), WMT puts ($56.5M), SPY calls ($48.3M), WMT calls ($44.2M), QQQ puts ($44.2M), PGR puts ($38.0M), QQQ calls ($36.9M), WMB puts ($26.2M), and 184 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ TSN Tyson Foods Inc. Class A Reduce -99.4% 0.06% −7.36 Z Zillow Group Inc. Class C Sold out 0.00% −6.12 GIS General Mills Inc. Reduce -99.9% 0.00% −5.19 DG Dollar General Corp. Reduce -100.0% 0.00% −4.37 TFC Truist Financial Corp. Reduce -99.8% 0.01% −4.07 CLX Clorox Company Sold out 0.00% −2.84 BMY Bristol-Myers Squibb Co. Reduce -100.0% 0.00% −2.61 NVDA Nvidia Corp. Reduce -50.0% 5.41% −2.16 PANW Palo Alto Networks Inc. Reduce -0.9% 11.83% +3.48
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ PNC PNC Financial Services Group Add +99.9% 13.51% +8.78 USB US Bancorp Add +0.0% 13.64% +4.10 QQQ Invesco QQQ Trust Series 1 Add +0.1% 10.03% +3.03 TSLA Tesla Inc. Add +253.2% 3.25% +2.61 MSFT Microsoft Corp. Add +0.2% 6.23% +1.88 MA Mastercard Inc. Class A Add +0.1% 4.50% +1.36 BAC Bank of America Corp. Add +0.6% 2.00% +0.61 JPM JPMorgan Chase & Co. New 0.01% +0.01
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ COST Costco Wholesale Corp. put Reduce -9.6% 276,700 $245.3M COST Costco Wholesale Corp. call Add +21.0% 147,400 $130.7M JPM JPMorgan Chase & Co. put Add +150.7% 18,800 $129.3M JPM JPMorgan Chase & Co. call Add +150.7% 18,800 $98.2M SPY SS SPDR S&P 500 ETF Trust-US put Add +229.0% 10,200 $72.5M WMT Walmart Inc. put Reduce -63.9% 13,200 $56.5M SPY SS SPDR S&P 500 ETF Trust-US call Add +229.0% 10,200 $48.3M WMT Walmart Inc. call Reduce -63.9% 13,200 $44.2M QQQ Invesco QQQ Trust Series 1 put Add +196.9% 9,500 $44.2M PGR Progressive Corp. put Add +7.4% 11,600 $38.0M QQQ Invesco QQQ Trust Series 1 call Add +196.9% 9,500 $36.9M WMB Williams Cos Inc. put Add +521.3% 169,600 $26.2M TMUS T-Mobile US Inc. put Add +848.7% 37,000 $23.9M PGR Progressive Corp. call Add +7.4% 11,600 $22.5M BNY Bank of New York Mellon Corp. put Add +150.6% 255,600 $18.4M WMB Williams Cos Inc. call Reduce -9.5% 24,700 $17.6M AXP American Express Co. put Add +26.8% 63,900 $17.3M LMT Lockheed Martin Corp. call Add +42.3% 3,700 $17.3M BNY Bank of New York Mellon Corp. call Add +105.2% 209,300 $15.0M ALL Allstate Corp. put Reduce -41.9% 78,200 $14.8M ALL Allstate Corp. call Reduce -31.4% 78,200 $14.8M CBOE Cboe Global Markets Inc. put Sold out 70,400 $14.4Mbefore exit AXP American Express Co. call Add +54.8% 51,700 $14.0M CL Colgate-Palmolive Co. put Reduce -1.1% 133,000 $13.8M CL Colgate-Palmolive Co. call Reduce -1.1% 133,000 $13.8M GS Goldman Sachs Group Inc. put Add +66.7% 25,000 $12.4M HLT Hilton Worldwide Holdings Inc. put Reduce -43.7% 49,100 $11.3M HLT Hilton Worldwide Holdings Inc. call Reduce -16.2% 49,100 $11.3M BLK BlackRock Finance Inc. put Reduce -25.8% 11,500 $10.9M BLK BlackRock Finance Inc. call Reduce -25.8% 11,500 $10.9M GS Goldman Sachs Group Inc. call Add +56.7% 21,000 $10.4M OKE Oneok Inc. call Add +876.2% 41,000 $9.4M ICE Intercontinental Exchange Inc. put Add +348.0% 33,600 $8.9M ICE Intercontinental Exchange Inc. call Add +478.7% 43,400 $8.8M OKE Oneok Inc. put Reduce -59.5% 1,700 $8.6M PNC PNC Financial Services Group put Add +100.0% 8,200 $7.8M MRK Merck & Co. Inc. call Reduce -27.1% 7,800 $7.5M TJX TJX Companies Inc. put Add +158.5% 21,200 $7.4M TJX TJX Companies Inc. call Add +158.5% 21,200 $7.4M WFC Wells Fargo & Co. put Add +125.0% 48,600 $7.1M STZ Constellation Brands Inc. Class A call Add +250.9% 18,600 $6.5M PNC PNC Financial Services Group call Add +100.0% 8,200 $6.3M STZ Constellation Brands Inc. Class A put Add +1140.0% 18,600 $6.2M CBOE Cboe Global Markets Inc. call Sold out 30,000 $6.1Mbefore exit C Citigroup Inc. put Add +147.3% 91,000 $5.7M C Citigroup Inc. call Add +147.3% 91,000 $5.7M DHR Danaher Corp. put Add +59.8% 20,300 $5.6M DHR Danaher Corp. call Add +59.8% 20,300 $5.6M ABBV Abbvie Inc. put Reduce -25.5% 27,700 $5.5M ABBV Abbvie Inc. call Reduce -25.5% 27,700 $5.5M
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Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $35.6M BNY, C, CMI, PANW, QQQ Q1 2026 14 $27.3M BNY, C, CAH, CMI, COR Q4 2025 Amended 26 $98.2M JPM, WMB, CAH, AXP, META Q3 2025 24 $17.7M JPM, AXP, PNC, META, PANW Q2 2025 22 $47.1M COST, JPM, PNC, META, PANW Q1 2025 22 $11.2M USB, PNC, META, PANW, QQQ Q4 2024 23 $16.1M USB, META, PANW, NVDA, TSN Q3 2024 22 $15.1M USB, META, PANW, NVDA, TSN Q2 2024 Amended 27 $17.9M ADM, META, PANW, USB, NVDA Q1 2024 27 $16.1M CSCO, USB, DG, TSN, QQQ