Delphi Financial Group, Inc.

Name: Delphi Financial Group, Inc. 13F holdings, Q4 2024
Creator: Delphi Financial Group, Inc.
Published: 2025-02-06

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

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 6, 2025), Delphi Financial Group, Inc. reported 22 stock positions worth $185.6 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 26.2% of the portfolio, followed by Energy Transfer (ET, 15.0%) and iShares 0-5 YR HY Corp. Bond (SHYG, 12.2%). Compared with Q3 2024, it opened 7 new positions, sold out of 4, added to 1 and reduced 1. The biggest buy was a new position in Ellington Financial (EFC) and the biggest sale an exit from CNX Resources (CNX).

Most Recent 13F: Q2 2026
Location: Wilmington, DE
CIK: 0000859139
Portfolio Value: $185.6M (Q4 2024)
SEC Filing: 0000950123-25-000996 ↗ filed Feb 6, 2025

Holdings Value

Holdings 22 stocks · $185.6M


VTI VG Morningstar TS MKT ETF-US	26.25%	168,090	$48.7M	No change
ET Energy Transfer LP	15.01%	1,421,945	$27.9M	No change
SHYG iShares 0-5 YR HY Corp. Bond	12.18%	530,590	$22.6M	No change
JAAA Janus Henderson Aaa Clo ETF	10.87%	397,990	$20.2M	No change
MPLX MPLX LP	8.80%	341,079	$16.3M	No change
TSM Taiwan Semiconductor-SP ADR	5.09%	47,830	$9.4M	No change
LNG Cheniere Energy Inc.	2.92%	25,220	$5.4M	No change
AMZN Amazon.com Inc.	2.84%	24,000	$5.3M	No change
EFC Ellington Financial Inc.	2.53%	388,131	$4.7M	New
MSFT Microsoft Corp.	2.45%	10,800	$4.6M	No change
ASHR Xtrackers Harvest Csi 300 CH	1.98%	139,000	$3.7M	New
EXE Expand Energy Corp.	1.97%	36,720	$3.7M	No change
FXI iShares China Large-Cap ETF	1.97%	120,000	$3.7M	New
AGNC AGNC Investment Corp.	1.53%	309,000	$2.8M	Add +122.3%
OXFORD LANE CAP CORP	1.22%	446,134	$2.3M	Reduce -7.1%
TSLX Sixth Street Specialty Lendi	0.80%	70,106	$1.5M	No change
MFA Mfa Financial Inc.	0.38%	70,000	$713K	No change
CCC CCC Intelligent Solutions Ho	0.36%	57,015	$669K	New
ZROZ PIMCO 25+ YR Zero CPN US Tif	0.34%	9,238	$634K	New
RNAC Cartesian Therapeutics Inc.	0.21%	22,028	$395K	No change
PFF iShares Preferred & Income S	0.17%	10,000	$314K	New
VTWO Vanguard Russell 2000 ETF	0.12%	2,400	$214K	New

Other holdings (2): bonds, preferreds, convertibles and warrants · $3.4M (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	$1.9M	No change
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	1,509,000	$1.5M	No change

Total filed on the 13F, all lines: $189.0M.

Portfolio Sells Q3 2024 → Q4 2024


CNX CNX Resources Corp.	Sold out	0.00%	−4.82
EMO Clearbridge Energy Midstream	Sold out	0.00%	−1.52
MBB iShares MBS ETF	Sold out	0.00%	−1.13
OXFORD LANE CAP CORP	Reduce -7.1%	1.22%	−0.23
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	Sold out	0.00%	−0.12

Portfolio Buys Q3 2024 → Q4 2024


EFC Ellington Financial Inc.	New	2.53%	+2.53
ASHR Xtrackers Harvest Csi 300 CH	New	1.98%	+1.98
FXI iShares China Large-Cap ETF	New	1.97%	+1.97
AGNC AGNC Investment Corp.	Add +122.3%	1.53%	+0.70
CCC CCC Intelligent Solutions Ho	New	0.36%	+0.36
ZROZ PIMCO 25+ YR Zero CPN US Tif	New	0.34%	+0.34
PFF iShares Preferred & Income S	New	0.17%	+0.17
VTWO Vanguard Russell 2000 ETF	New	0.12%	+0.12

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