Delphi Financial Group, Inc.
Long book
$219.7M
Q1 2026
Positions
31
Top-10 weight
77%
concentration
Last quarter
+6.0%
SPY +14.8%
Turnover
32%
of book per quarter
Strategy in plain words
auto-generated from filingsDelphi Financial Group, Inc. is an institutional manager, running a $219.7M US long book across 31 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: JANUS HENDERSON AAA CLO ETF, ENERGY TRANSFER LP, XTRACKERS HARVEST CSI 300 CH, ISHARES CHINA LARGE-CAP ETF, ELLINGTON FINANCIAL INC.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.6%
Q2 2024
+6.2%
Q3 2024
+7.8%
Q4 2024
-0.6%
Q1 2025
+5.2%
Q2 2025
+3.6%
Q3 2025
-1.3%
Q4 2025
+1.6%
Q1 2026
+6.0%
Sector allocation
Utilities 40%
Consumer discretionary 16%
Industrials 15%
Technology 10%
Financials 7%
Energy 5%
Other 5%
Services media 4%
Long book by quarter
What does Delphi Financial own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ET ENERGY TRANSFER LP | Utilities | 1.4M | $27.4M | 12.5% | Held |
| WMT WALMART INC | Consumer discretionary | 69.3K | $8.6M | 3.9% | +22.0% |
| LNG CHENIERE ENERGY INC | Utilities | 25.2K | $7.2M | 3.3% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 24.0K | $5.0M | 2.3% | Held |
| KRMN KARMAN HOLDINGS INC | Industrials | 54.6K | $4.4M | 2.0% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 15.0K | $4.3M | 2.0% | New |
| EXE EXPAND ENERGY CORP | Energy | 36.7K | $4.0M | 1.8% | Held |
| MSFT MICROSOFT CORP | Technology | 10.8K | $4.0M | 1.8% | Held |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 36.5K | $3.6M | 1.6% | +62.6% |
| KTOS KRATOS DEFENSE & SECURITY | Industrials | 44.0K | $3.1M | 1.4% | Held |
| CZR CAESARS ENTERTAINMENT INC | Services media | 116.9K | $3.1M | 1.4% | Held |
| AVAV AEROVIRONMENT INC | Industrials | 12.1K | $2.2M | 1.0% | Held |
| TSLX SIXTH STREET SPECIALTY LENDI | — | 116.1K | $2.1M | 1.0% | +262.5% |
| HUT HUT 8 CORP | Financials | 42.9K | $2.0M | 0.9% | New |
| WULF TERAWULF INC | Financials | 130.7K | $1.9M | 0.9% | New |
| CIFR CIPHER DIGITAL INC | Financials | 140.8K | $1.8M | 0.8% | New |
| ARCC ARES CAPITAL CORP | — | 77.0K | $1.4M | 0.6% | +208.0% |
| CCC CCC INTELLIGENT SOLUTIONS HO | Technology | 76.5K | $459K | 0.2% | Held |
| GSBD GOLDMAN SACHS BDC INC | — | 47.2K | $419K | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 32 | $221.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 28 | $200.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 23 | $177.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 22 | $141.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 22 | $165.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 6, 2025 | 24 | $189.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 1, 2024 | 21 | $177.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 6, 2024 | 23 | $177.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 3, 2024 | 23 | $154.7M | canonical | SEC ↗ |
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