Delphi Financial Group, Inc.

Name: Delphi Financial Group, Inc. 13F holdings, Q1 2024
Creator: Delphi Financial Group, Inc.
Published: 2024-05-03

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 3, 2024), Delphi Financial Group, Inc. reported 21 stock positions worth $151.5 million. Its top holding was Energy Transfer (ET) at 32.9% of the portfolio, followed by iShares 0-5 YR HY Corp. Bond (SHYG, 14.9%) and Janus Henderson Aaa Clo ETF (JAAA, 13.3%). Compared with Q4 2023, it opened 2 new positions, added to 2 and reduced 5. The biggest buy was a new position in Mfa Financial (MFA) and the biggest sale iShares 0-5 YR HY Corp. Bond (SHYG, shares −33%).

Most Recent 13F: Q2 2026
Location: Wilmington, DE
CIK: 0000859139
Portfolio Value: $151.5M (Q1 2024)
SEC Filing: 0000950123-24-003762 ↗ filed May 3, 2024

Holdings Value

Holdings 21 stocks · $151.5M


ET Energy Transfer LP	32.88%	3,166,026	$49.8M	Reduce -21.6%
SHYG iShares 0-5 YR HY Corp. Bond	14.91%	530,590	$22.6M	Reduce -32.9%
JAAA Janus Henderson Aaa Clo ETF	13.33%	397,990	$20.2M	Reduce -19.9%
MPLX MPLX LP	9.36%	341,079	$14.2M	No change
TSM Taiwan Semiconductor-SP ADR	4.30%	47,830	$6.5M	No change
CNX CNX Resources Corp.	4.02%	256,850	$6.1M	No change
BABA Alibaba Group Holding-SP ADR	3.94%	82,526	$6.0M	No change
MSFT Microsoft Corp.	3.00%	10,800	$4.5M	No change
AMZN Amazon.com Inc.	2.86%	24,000	$4.3M	No change
LNG Cheniere Energy Inc.	2.68%	25,220	$4.1M	No change
EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP	2.15%	36,720	$3.3M	No change
CEM Clearbridge MLP & Midstream	1.00%	33,150	$1.5M	No change
TSLX Sixth Street Specialty Lendi	0.99%	70,106	$1.5M	Reduce -56.3%
MBB iShares MBS ETF	0.95%	15,500	$1.4M	Reduce -24.4%
OXFORD LANE CAP CORP	0.92%	274,974	$1.4M	Add +0.3%
CLEARBRIDGE MLP AND MIDSTRM	0.70%	25,700	$1.1M	No change
ZROZ PIMCO 25+ YR Zero CPN US Tif	0.57%	10,980	$870K	No change
MFA Mfa Financial Inc.	0.45%	60,000	$685K	New
AGNC AGNC Investment Corp.	0.36%	55,000	$545K	New
FXY Invesco Currencyshares Japan	0.32%	8,000	$490K	Add +25.0%
RNAC Cartesian Therapeutics Inc.	0.28%	660,852	$430K	No change

Other holdings (2): bonds, preferreds, convertibles and warrants · $3.3M (not counted above)

Security	Class	Shares / Principal	Value	Change
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27)	NOTE 5.500% 3/1 · principal	2,000,000	$1.8M	No change
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	1,509,000	$1.4M	New

Total filed on the 13F, all lines: $154.7M.

Portfolio Sells Q4 2023 → Q1 2024


SHYG iShares 0-5 YR HY Corp. Bond	Reduce -32.9%	14.91%	−4.86
JAAA Janus Henderson Aaa Clo ETF	Reduce -19.9%	13.33%	−1.47
TSLX Sixth Street Specialty Lendi	Reduce -56.3%	0.99%	−1.06
MBB iShares MBS ETF	Reduce -24.4%	0.95%	−0.20
ET Energy Transfer LP	Reduce -21.6%	32.88%	−0.14

Portfolio Buys Q4 2023 → Q1 2024


MFA Mfa Financial Inc.	New	0.45%	+0.45
AGNC AGNC Investment Corp.	New	0.36%	+0.36
OXFORD LANE CAP CORP	Add +0.3%	0.92%	+0.12
FXY Invesco Currencyshares Japan	Add +25.0%	0.32%	+0.07

Notes & Other Activity Q4 2023 → Q1 2024


TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	New	1,509,000	$1.4M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	25	$200.4M	ASHR, ET, VTI, EFC, TSM
Q1 2026	31	$219.7M	JAAA, ET, ASHR, FXI, EFC
Q4 2025	26	$196.8M	JAAA, ET, ASHR, FXI, TSM
Q3 2025	21	$174.4M	JAAA, ET, FXI, ASHR, TSM
Q2 2025	20	$138.4M	JAAA, ET, TSM, EFC, FXI
Q1 2025	20	$162.4M	JAAA, ET, MPLX, VTI, FXI
Q4 2024	22	$185.6M	VTI, ET, SHYG, JAAA, MPLX
Q3 2024	19	$173.7M	VTI, SHYG, ET, JAAA, MPLX
Q2 2024	21	$174.4M	VTI, ET, SHYG, JAAA, MPLX
Q1 2024	21	$151.5M	ET, SHYG, JAAA, MPLX, TSM