In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Delta Accumulation, LLC reported 24 stock positions worth $17.7 million . Its top holding was JPMorgan Chase (JPM) at 27.4% of the portfolio, followed by American Express (AXP, 13.0% ) and PNC Financial Services (PNC, 8.6% ). Compared with Q2 2025, it opened 3 new positions, sold out of 1 and added to 7. The biggest buy was JPMorgan Chase (JPM, shares +0% ) and the biggest sale an exit from Costco Wholesale (COST).
Location SAUSALITO, CA
CIK 0001808389
Portfolio Value $17.7M (Q3 2025) Holdings 24 stocks · $17.7M 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 Q2 2025 JPM JPMorgan Chase & Co. 23,006 $4.9M Add +0.0% AXP American Express Co. 8,500 $2.3M New PNC PNC Financial Services Group 8,209 $1.5M Add +0.0% META Meta Platforms Inc. Class A 2,647 $1.5M No change PANW Palo Alto Networks Inc. 7,770 $1.3M No change QQQ Invesco QQQ Trust Series 1 2,395 $1.2M Add +0.1% HCA HCA Healthcare Inc. 2,500 $1.0M No change GS Goldman Sachs Group Inc. 1,600 $792K New MSFT Microsoft Corp. 1,630 $701K Add +0.1% NVDA Nvidia Corp. 5,541 $673K No change MA Mastercard Inc. Class A 1,026 $507K Add +0.1% ABNB Airbnb Inc. Class A 3,847 $488K No change TSLA Tesla Inc. 1,395 $365K No change BAC Bank of America Corp. filed as BANK AMERICA CORP 5,728 $227K Add +0.5% SGOV iShares 0-3 Month Treasury B 1,962 $198K No change SMR Nuscale Power Corp. 4,800 $56K New TSN Tyson Foods Inc. Class A 121 $7K Add +0.8% WFC Wells Fargo & Co. 73 $4K No change TFC Truist Financial Corp. 39 $2K No change SBUX Starbucks Corp. 14 $1K No change TCOM Trip.com Group Ltd.-ADR 20 $1K No change GIS General Mills Inc. 7 $517 No change DG Dollar General Corp. 3 $254 No change BMY Bristol-Myers Squibb Co. 2 $103 No change
Options reported separately and not counted above: JPM puts ($197.7M), JPM calls ($107.8M), BNY puts ($61.4M), WMT puts ($54.5M), COST puts ($51.7M), BNY calls ($49.6M), SPY puts ($40.9M), SPY calls ($37.8M), COST calls ($30.3M), TJX puts ($29.2M), WMB puts ($29.1M), WMT calls ($29.0M), and 163 more.
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ COST Costco Wholesale Corp. Sold out 0.00% −69.07
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ JPM JPMorgan Chase & Co. Add +0.0% 27.37% +17.07 AXP American Express Co. New 13.01% +13.01 PNC PNC Financial Services Group Add +0.0% 8.56% +5.34 GS Goldman Sachs Group Inc. New 4.47% +4.47 QQQ Invesco QQQ Trust Series 1 Add +0.1% 6.59% +4.12 MSFT Microsoft Corp. Add +0.1% 3.96% +2.47 MA Mastercard Inc. Class A Add +0.1% 2.86% +1.78 BAC Bank of America Corp. Add +0.5% 1.28% +0.80 SMR Nuscale Power Corp. New 0.31% +0.31 TSN Tyson Foods Inc. Class A Add +0.8% 0.04% +0.03
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ JPM JPMorgan Chase & Co. put Add +8.9% 937,600 $197.7M JPM JPMorgan Chase & Co. call Add +17.4% 511,100 $107.8M BNY Bank of New York Mellon Corp. put Add +216.8% 854,800 $61.4M WMT Walmart Inc. put Reduce -95.0% 13,200 $54.5M COST Costco Wholesale Corp. put Reduce -50.3% 58,300 $51.7M BNY Bank of New York Mellon Corp. call Add +208.8% 690,200 $49.6M COST Costco Wholesale Corp. call Reduce -39.4% 34,200 $30.3M QQQ Invesco QQQ Trust Series 1 put Reduce -60.0% 800 $28.3M GD General Dynamics Corp. put Add +1370.0% 73,500 $22.2M PM Philip Morris International put Reduce -50.0% 29,700 $21.6M GD General Dynamics Corp. call Add +1270.0% 68,500 $20.7M BLK BlackRock Finance Inc. put Add +345.7% 15,600 $14.8M BAC Bank of America Corp. put Add +278.4% 373,100 $14.8M BAC Bank of America Corp. call Add +270.0% 364,800 $14.5M FAST Fastenal Co. put Add +323.7% 377,100 $13.5M ALL Allstate Corp. put Add +3.1% 70,600 $13.4M PGR Progressive Corp. call Reduce -34.5% 7,600 $13.0M LMT Lockheed Martin Corp. call Reduce -57.2% 8,000 $13.0M PGR Progressive Corp. put Reduce -81.2% 7,600 $12.9M BLK BlackRock Finance Inc. call Add +245.7% 12,100 $11.5M FAST Fastenal Co. call Add +248.7% 310,300 $11.1M MCK McKesson Corp. put Reduce -93.4% 1,300 $10.9M ALL Allstate Corp. call Reduce -17.5% 56,500 $10.7M WFC Wells Fargo & Co. put Add +8.4% 54,100 $10.4M COR Cencora Inc. put Add +56.5% 46,000 $10.4M TMUS T-Mobile US Inc. put Reduce -82.3% 3,900 $9.0M COR Cencora Inc. call Add +49.8% 37,900 $8.5M MCK McKesson Corp. call Reduce -91.6% 1,300 $8.3M LMT Lockheed Martin Corp. put Reduce -27.1% 5,100 $8.3M ABBV Abbvie Inc. put Add +536.4% 42,000 $8.3M CMI Cummins Inc. put Add +743.3% 25,300 $8.2M LOW Lowe's Cos Inc. call Reduce -60.5% 4,500 $7.8M CSCO Cisco Systems Inc. put Add +65.8% 141,100 $7.5M CSCO Cisco Systems Inc. call Add +65.8% 141,100 $7.5M ABBV Abbvie Inc. call Add +436.4% 35,400 $7.0M CLX Clorox Company put New 41,800 $6.8M CLX Clorox Company call New 41,800 $6.8M CMI Cummins Inc. call Add +153.2% 20,000 $6.5M CBOE Cboe Global Markets Inc. put Add +70.0% 30,600 $6.3M CBOE Cboe Global Markets Inc. call Add +70.0% 30,600 $6.3M LOW Lowe's Cos Inc. put Add +276.0% 9,400 $5.4M C Citigroup Inc. put Add +17.4% 77,000 $4.8M MS Morgan Stanley put New 2,700 $4.3M KO The Coca-Cola Co. call Sold out 53,400 $3.8Mbefore exit KO The Coca-Cola Co. put Sold out 53,400 $3.8Mbefore exit PAYX Paychex Inc. put Add +79.3% 10,400 $3.7M PAYX Paychex Inc. call Add +79.3% 10,400 $3.7M ABT Abbott Laboratories call Sold out 28,700 $3.3Mbefore exit ABT Abbott Laboratories put Sold out 28,700 $3.3Mbefore exit CHRW C.H. Robinson Worldwide Inc. put New 26,800 $3.0M
Showing the first 50 of 110.
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