Delta Accumulation, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 5, 2026), Delta Accumulation, LLC reported 26 stock positions worth $98.2 million. Its top holding was JPMorgan Chase (JPM) at 66.1% of the portfolio, followed by Williams Cos (WMB, 15.0%) and Cardinal Health (CAH, 3.7%). Compared with Q3 2025, it opened 3 new positions, sold out of 1, added to 6 and reduced 2. The biggest buy was JPMorgan Chase (JPM, shares +775%) and the biggest sale PNC Financial Services (PNC, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- SAUSALITO, CA
- CIK
- 0001808389
- Portfolio Value
- $98.2M (Q4 2025)
- SEC Filing
- 0001808389-26-000007 ↗ filed Feb 5, 2026
Holdings Value
Holdings 26 stocks · $98.2M
| JPM JPMorgan Chase & Co. | 66.06% | 201,308 | $64.9M | Add +775.0% |
| WMB Williams Cos Inc. | 15.02% | 245,348 | $14.7M | New |
| CAH Cardinal Health Inc. | 3.66% | 17,500 | $3.6M | New |
| AXP American Express Co. | 3.20% | 8,500 | $3.1M | No change |
| META Meta Platforms Inc. Class A | 1.78% | 2,647 | $1.7M | No change |
| QQQ Invesco QQQ Trust Series 1 | 1.50% | 2,397 | $1.5M | Add +0.1% |
| PANW Palo Alto Networks Inc. | 1.46% | 7,770 | $1.4M | No change |
| GS Goldman Sachs Group Inc. | 1.25% | 1,400 | $1.2M | Reduce -12.5% |
| HCA HCA Healthcare Inc. | 1.19% | 2,500 | $1.2M | No change |
| NVDA Nvidia Corp. | 1.05% | 5,541 | $1.0M | No change |
| MSFT Microsoft Corp. | 0.80% | 1,633 | $790K | Add +0.2% |
| COST Costco Wholesale Corp. | 0.70% | 800 | $690K | New |
| TSLA Tesla Inc. | 0.64% | 1,395 | $627K | No change |
| MA Mastercard Inc. Class A | 0.60% | 1,027 | $586K | Add +0.1% |
| ABNB Airbnb Inc. Class A | 0.53% | 3,847 | $522K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.32% | 5,756 | $317K | Add +0.5% |
| SGOV iShares 0-3 Month Treasury B | 0.20% | 1,962 | $197K | No change |
| TSN Tyson Foods Inc. Class A | 0.01% | 122 | $7K | Add +0.8% |
| WFC Wells Fargo & Co. | 0.01% | 73 | $7K | No change |
| TFC Truist Financial Corp. | 0.00% | 39 | $2K | No change |
| TCOM Trip.com Group Ltd.-ADR | 0.00% | 20 | $1K | No change |
| SBUX Starbucks Corp. | 0.00% | 14 | $1K | No change |
| DG Dollar General Corp. | 0.00% | 3 | $398 | No change |
| GIS General Mills Inc. | 0.00% | 7 | $326 | No change |
| PNC PNC Financial Services Group | 0.00% | 1 | $209 | Reduce -100.0% |
| BMY Bristol-Myers Squibb Co. | 0.00% | 2 | $108 | No change |
Options reported separately and not counted above: JPM puts ($388.4M), BNY puts ($161.2M), JPM calls ($146.1M), WMT puts ($140.8M), BNY calls ($113.5M), WMT calls ($89.2M), CAH puts ($69.2M), SPY puts ($60.5M), SPY calls ($55.4M), TJX puts ($54.3M), WMB puts ($52.8M), COST puts ($46.6M), and 156 more.
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
| JPM JPMorgan Chase & Co. | Add +775.0% | 66.06% | +38.70 |
| WMB Williams Cos Inc. | New | 15.02% | +15.02 |
| CAH Cardinal Health Inc. | New | 3.66% | +3.66 |
| COST Costco Wholesale Corp. | New | 0.70% | +0.70 |
| TSN Tyson Foods Inc. Class A | Add +0.8% | 0.01% | −0.03 |
| BAC Bank of America Corp. | Add +0.5% | 0.32% | −0.96 |
| MA Mastercard Inc. Class A | Add +0.1% | 0.60% | −2.26 |
| MSFT Microsoft Corp. | Add +0.2% | 0.80% | −3.15 |
| QQQ Invesco QQQ Trust Series 1 | Add +0.1% | 1.50% | −5.10 |
Options Activity Q3 2025 → Q4 2025
| JPM JPMorgan Chase & Co. | put | Reduce -81.0% | 178,300 | $388.4M |
| BNY Bank of New York Mellon Corp. | put | Add +62.5% | 1,389,000 | $161.2M |
| JPM JPMorgan Chase & Co. | call | Reduce -99.2% | 4,000 | $146.1M |
| BNY Bank of New York Mellon Corp. | call | Add +41.6% | 977,300 | $113.5M |
| CAH Cardinal Health Inc. | put | Add +83.9% | 336,800 | $69.2M |
| COST Costco Wholesale Corp. | put | Reduce -7.4% | 54,000 | $46.6M |
| C Citigroup Inc. | put | Add +322.3% | 325,200 | $37.9M |
| CAH Cardinal Health Inc. | call | Add +8.8% | 180,200 | $37.0M |
| COR Cencora Inc. | put | Add +120.4% | 101,400 | $34.2M |
| CMI Cummins Inc. | put | Add +162.1% | 66,300 | $33.8M |
| BAC Bank of America Corp. | put | Add +50.3% | 560,800 | $30.8M |
| GD General Dynamics Corp. | put | Add +17.6% | 86,400 | $29.1M |
| GD General Dynamics Corp. | call | Add +18.8% | 81,400 | $27.4M |
| BAC Bank of America Corp. | call | Add +35.9% | 495,900 | $27.3M |
| COST Costco Wholesale Corp. | call | Reduce -10.8% | 30,500 | $26.3M |
| COR Cencora Inc. | call | Add +91.0% | 72,400 | $24.5M |
| BLK BlackRock Finance Inc. | put | Add +41.7% | 22,100 | $23.7M |
| CMI Cummins Inc. | call | Add +129.0% | 45,800 | $23.4M |
| C Citigroup Inc. | call | Add +195.7% | 194,000 | $22.6M |
| CSCO Cisco Systems Inc. | put | Add +94.6% | 274,600 | $21.2M |
| CSCO Cisco Systems Inc. | call | Add +89.9% | 268,000 | $20.6M |
| BLK BlackRock Finance Inc. | call | Add +53.7% | 18,600 | $19.9M |
| WFC Wells Fargo & Co. | put | Reduce -60.1% | 21,600 | $17.2M |
| CBOE Cboe Global Markets Inc. | call | Add +70.6% | 52,200 | $13.1M |
| CBOE Cboe Global Markets Inc. | put | Add +70.6% | 52,200 | $13.1M |
| WMB Williams Cos Inc. | call | Add +776.1% | 216,400 | $13.0M |
| FAST Fastenal Co. | put | Reduce -14.5% | 322,300 | $12.9M |
| ABBV Abbvie Inc. | put | Add +27.9% | 53,700 | $12.3M |
| CL Colgate-Palmolive Co. | call | Add +32.4% | 136,200 | $10.8M |
| ABBV Abbvie Inc. | call | Add +33.0% | 47,100 | $10.8M |
| FAST Fastenal Co. | call | Reduce -17.7% | 255,500 | $10.3M |
| LMT Lockheed Martin Corp. | call | Reduce -67.5% | 2,600 | $9.9M |
| GS Goldman Sachs Group Inc. | put | Add +123.4% | 10,500 | $9.2M |
| PM Philip Morris International | put | Reduce -58.3% | 12,400 | $8.9M |
| CME Cme Group Inc. | call | Sold out | 40,000 | $8.8Mbefore exit |
| CME Cme Group Inc. | put | Sold out | 40,000 | $8.8Mbefore exit |
| ALL Allstate Corp. | put | Reduce -40.8% | 41,800 | $8.7M |
| T AT&T Inc. | put | Add +1989.7% | 323,900 | $8.0M |
| T AT&T Inc. | call | Add +1989.7% | 323,900 | $8.0M |
| AXP American Express Co. | put | Add +78.0% | 19,400 | $7.2M |
| IWM iShares Russell 2000 ETF | put | Add +118.0% | 25,500 | $6.3M |
| IWM iShares Russell 2000 ETF | call | Add +73.5% | 25,500 | $6.3M |
| AAPL Apple Inc. | put | New | 22,400 | $6.1M |
| AAPL Apple Inc. | call | Add +51.4% | 22,400 | $6.1M |
| LMT Lockheed Martin Corp. | put | Add +2.0% | 5,200 | $6.0M |
| CHRW C.H. Robinson Worldwide Inc. | put | Add +38.8% | 37,200 | $6.0M |
| IBM Intl Business Machines Corp. | put | Add +31.4% | 20,100 | $6.0M |
| ALL Allstate Corp. | call | Reduce -51.0% | 27,700 | $5.8M |
| ICE Intercontinental Exchange Inc. | put | Reduce -63.0% | 32,300 | $5.2M |
| ICE Intercontinental Exchange Inc. | call | Reduce -59.5% | 32,300 | $5.2M |
Showing the first 50 of 102.
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 2025Amended | 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 2024Amended | 27 | $17.9M | ADM, META, PANW, USB, NVDA |
| Q1 2024 | 27 | $16.1M | CSCO, USB, DG, TSN, QQQ |