Delphi Financial Group, Inc.

Name: Delphi Financial Group, Inc. 13F holdings, Q1 2026
Creator: Delphi Financial Group, Inc.
Published: 2026-05-13

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

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Delphi Financial Group, Inc. reported 31 stock positions worth $219.7 million. Its top holding was Janus Henderson Aaa Clo ETF (JAAA) at 14.8% of the portfolio, followed by Energy Transfer (ET, 12.5%) and Xtrackers Harvest Csi 300 CH (ASHR, 8.8%). Compared with Q4 2025, it opened 8 new positions, sold out of 3, added to 6 and reduced 1. The biggest buy was a new position in Rithm Capital (RITM) and the biggest sale Janus Henderson Aaa Clo ETF (JAAA, shares −24%).

Most Recent 13F: Q2 2026
Location: Wilmington, DE
CIK: 0000859139
Portfolio Value: $219.7M (Q1 2026)
SEC Filing: 0001193125-26-220537 ↗ filed May 13, 2026

Holdings Value

Holdings 31 stocks · $219.7M


JAAA Janus Henderson Aaa Clo ETF	14.83%	646,695	$32.6M	Reduce -23.6%
ET Energy Transfer LP	12.49%	1,421,945	$27.4M	No change
ASHR Xtrackers Harvest Csi 300 CH	8.77%	590,280	$19.3M	No change
FXI iShares China Large-Cap ETF	7.79%	476,390	$17.1M	No change
EFC Ellington Financial Inc.	7.60%	1,408,396	$16.7M	Add +95.1%
TSM Taiwan Semiconductor-SP ADR	7.36%	47,830	$16.2M	No change
VTI VG Morningstar TS MKT ETF-US	6.05%	41,400	$13.3M	No change
RITM Rithm Capital Corp.	4.67%	1,081,000	$10.2M	New
WMT Walmart Inc.	3.92%	69,260	$8.6M	Add +22.0%
LNG Cheniere Energy Inc.	3.26%	25,220	$7.2M	No change
AMZN Amazon.com Inc.	2.28%	24,000	$5.0M	No change
KRMN Karman Holdings Inc.	1.99%	54,645	$4.4M	No change
GOOGL Alphabet Inc. Class A	1.96%	15,000	$4.3M	New
EXE Expand Energy Corp.	1.84%	36,720	$4.0M	No change
MSFT Microsoft Corp.	1.82%	10,800	$4.0M	No change
UPS United Parcel Service Class B	1.64%	36,535	$3.6M	Add +62.6%
KTOS Kratos Defense & Security	1.41%	44,030	$3.1M	No change
CZR Caesars Entertainment Inc.	1.41%	116,890	$3.1M	No change
EARN Ellington Credit Co.	1.23%	608,700	$2.7M	No change
AVAV Aerovironment Inc.	1.01%	12,085	$2.2M	No change
TSLX Sixth Street Specialty Lendi	0.97%	116,141	$2.1M	Add +262.5%
HUT Hut 8 Corp.	0.92%	42,900	$2.0M	New
WULF Terawulf Inc.	0.86%	130,720	$1.9M	New
CIFR Cipher Digital Inc.	0.83%	140,845	$1.8M	New
ACRE Ares Commercial Real Estate	0.73%	334,937	$1.6M	Add +55.8%
OXLC Oxford Lane Capital Corp.	0.65%	145,030	$1.4M	No change
ARCC Ares Capital Corp.	0.63%	77,000	$1.4M	Add +208.0%
IEF iShares 7-10 Year Treasury B	0.52%	11,900	$1.1M	New
CCC CCC Intelligent Solutions Ho	0.21%	76,529	$459K	No change
LADR Ladder Capital Corp.-REIT	0.20%	45,000	$440K	New
GSBD Goldman Sachs BDC Inc.	0.19%	47,177	$419K	New

Other holdings (1): bonds, preferreds, convertibles and warrants · $2.0M (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	$2.0M	No change

Total filed on the 13F, all lines: $221.6M.

Portfolio Sells Q4 2025 → Q1 2026


JAAA Janus Henderson Aaa Clo ETF	Reduce -23.6%	14.83%	−6.93
UNH Unitedhealth Group Inc.	Sold out	0.00%	−1.38
MFA Mfa Financial Inc.	Sold out	0.00%	−0.68
JBBB Janus Henderson B-BBB Clo Et	Sold out	0.00%	−0.61

Portfolio Buys Q4 2025 → Q1 2026


RITM Rithm Capital Corp.	New	4.67%	+4.67
EFC Ellington Financial Inc.	Add +95.1%	7.60%	+2.62
GOOGL Alphabet Inc. Class A	New	1.96%	+1.96
HUT Hut 8 Corp.	New	0.92%	+0.92
WULF Terawulf Inc.	New	0.86%	+0.86
CIFR Cipher Digital Inc.	New	0.83%	+0.83
WMT Walmart Inc.	Add +22.0%	3.92%	+0.71
TSLX Sixth Street Specialty Lendi	Add +262.5%	0.97%	+0.62
IEF iShares 7-10 Year Treasury B	New	0.52%	+0.52
UPS United Parcel Service Class B	Add +62.6%	1.64%	+0.50
ARCC Ares Capital Corp.	Add +208.0%	0.63%	+0.37
ACRE Ares Commercial Real Estate	Add +55.8%	0.73%	+0.21
LADR Ladder Capital Corp.-REIT	New	0.20%	+0.20
GSBD Goldman Sachs BDC Inc.	New	0.19%	+0.19

Notes & Other Activity Q4 2025 → Q1 2026


TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	Sold out	1,509,000	$1.5Mbefore exit

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