DELPHI FINANCIAL GROUP, INC. Diversified Active

Location: Wilmington, DE

CIK: 0000859139 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 11, 2026

Total Value: $200M (98.3% shares, 1.7% debt)

Holdings (28)

JAAA JANUS HENDERSON AAA CLO ETF 21.4%

Value $42.83M Shares 846,695 Est. Cost $50.53 Unrealized —

ET ENERGY TRANSFER LP 11.7%

Value $23.45M Shares 1,421,945 Est. Cost $13.52 Unrealized —

ASHR XTRACKERS HARVEST CSI 300 CHI 9.7%

Value $19.39M Shares 590,280 Est. Cost $29.79 Unrealized —

FXI ISHARES CHINA LARGE-CAP ETF 9.1%

Value $18.24M Shares 476,390 Est. Cost $36.46 Unrealized —

Value $14.54M Shares 47,830 Est. Cost $104.00 Unrealized —

VTI VANGUARD TOTAL STOCK MARKET E 6.9%

Value $13.88M Shares 41,400 Est. Cost $333.18 Unrealized —

EFC ELLINGTON FINANCIAL INC 4.9%

Value $9.801M Shares 721,757 Est. Cost $12.59 Unrealized —

WMT WALMART INC 3.2%

Value $6.324M Shares 56,760 Est. Cost $107.20 Unrealized 0.0%

AMZN AMAZON.COM INC 2.8%

Value $5.54M Shares 24,000 Est. Cost $126.86 Unrealized +80.4%

MSFT MICROSOFT CORP 2.6%

Value $5.223M Shares 10,800 Est. Cost $206.04 Unrealized +143.0%

LNG CHENIERE ENERGY INC 2.4%

Value $4.903M Shares 25,220 Est. Cost $161.33 Unrealized +30.2%

EXE EXPAND ENERGY CORP 2.0%

Value $4.052M Shares 36,720 Est. Cost $76.01 Unrealized +45.6%

KRMN KARMAN HOLDINGS INC 2.0%

Value $3.998M Shares 54,645 Est. Cost $54.85 Unrealized +32.0%

KTOS KRATOS DEFENSE & SECURITY SOL 1.7%

Value $3.342M Shares 44,030 Est. Cost $64.04 Unrealized +27.8%

EARN ELLINGTON CREDIT CO 1.6%

Value $3.208M Shares 608,700 Est. Cost $5.65 Unrealized —

AVAV AEROVIRONMENT INC 1.5%

Value $2.923M Shares 12,085 Est. Cost $258.71 Unrealized +21.5%

CZR CAESARS ENTERTAINMENT INC 1.4%

Value $2.734M Shares 116,890 Est. Cost $27.09 Unrealized -17.0%

UNH UNITEDHEALTH GROUP INC 1.4%

Value $2.72M Shares 8,240 Est. Cost $337.21 Unrealized 0.0%

UPS UNITED PARCEL SERVICE INC 1.1%

Value $2.229M Shares 22,470 Est. Cost $92.75 Unrealized 0.0%

OXLC OXFORD LANE CAP CORP 1.1%

Value $2.123M Shares 145,030 Est. Cost $14.64 Unrealized —

— BLACKSTONE MORTGAGE TR 1.0%

Value $1.957M Shares 2,000,000 Est. Cost $0.80 Unrealized —

— TWO HARBORS INV CORP 0.8%

Value $1.509M Shares 1,509,000 Est. Cost $0.95 Unrealized —

MFA MFA FINL INC 0.7%

Value $1.341M Shares 144,000 Est. Cost $10.42 Unrealized —

JBBB JANUS DETROIT STR TR 0.6%

Value $1.192M Shares 25,000 Est. Cost $48.17 Unrealized —

ACRE ARES COML REAL ESTATE CORP 0.5%

Value $1.027M Shares 214,937 Est. Cost $4.63 Unrealized —

TSLX SIXTH STREET SPECIALTY LENDI 0.3%

Value $696K Shares 32,041 Est. Cost $18.76 Unrealized +16.2%

CCC CCC INTELLIGENT SOLUTIONS HL 0.3%

Value $608K Shares 76,529 Est. Cost $11.28 Unrealized -27.9%

ARCC ARES CAPITAL CORP 0.3%

Value $506K Shares 25,000 Est. Cost $19.79 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JAAA	JANUS HENDERSON AAA CLO ETF	846,695	$42.83M	21.4%	$50.53	—	HENDRSON AAA CL	47103U845
ET	ENERGY TRANSFER LP	1,421,945	$23.45M	11.7%	$13.52	—	COM UT LTD PTN	29273V100
ASHR	XTRACKERS HARVEST CSI 300 CHI	590,280	$19.39M	9.7%	$29.79	—	XTRACK HRVST CSI	233051879
FXI	ISHARES CHINA LARGE-CAP ETF	476,390	$18.24M	9.1%	$36.46	—	CHINA LG-CAP ETF	464287184
TSM	TSMC	47,830	$14.54M	7.3%	$104.00	—	SPONSORED ADS	874039100
VTI	VANGUARD TOTAL STOCK MARKET E	41,400	$13.88M	6.9%	$333.18	—	TOTAL STK MKT	922908769
EFC	ELLINGTON FINANCIAL INC	721,757	$9.801M	4.9%	$12.59	—	COM	28852N109
WMT	WALMART INC	56,760	$6.324M	3.2%	$107.20	0.0%	COM	931142103
AMZN	AMAZON.COM INC	24,000	$5.54M	2.8%	$126.86	+80.4%	COM	023135106
MSFT	MICROSOFT CORP	10,800	$5.223M	2.6%	$206.04	+143.0%	COM	594918104
LNG	CHENIERE ENERGY INC	25,220	$4.903M	2.4%	$161.33	+30.2%	COM NEW	16411R208
EXE	EXPAND ENERGY CORP	36,720	$4.052M	2.0%	$76.01	+45.6%	COM	165167735
KRMN	KARMAN HOLDINGS INC	54,645	$3.998M	2.0%	$54.85	+32.0%	COMMON STOCK	485924104
KTOS	KRATOS DEFENSE & SECURITY SOL	44,030	$3.342M	1.7%	$64.04	+27.8%	COM NEW	50077B207
EARN	ELLINGTON CREDIT CO	608,700	$3.208M	1.6%	$5.65	—	COM SHS BEN INT	288578107
AVAV	AEROVIRONMENT INC	12,085	$2.923M	1.5%	$258.71	+21.5%	COM	008073108
CZR	CAESARS ENTERTAINMENT INC	116,890	$2.734M	1.4%	$27.09	-17.0%	COM	12769G100
UNH	UNITEDHEALTH GROUP INC	8,240	$2.72M	1.4%	$337.21	0.0%	COM	91324P102
UPS	UNITED PARCEL SERVICE INC	22,470	$2.229M	1.1%	$92.75	0.0%	CL B	911312106
OXLC	OXFORD LANE CAP CORP	145,030	$2.123M	1.1%	$14.64	—	COM	691543847
—	BLACKSTONE MORTGAGE TR	2,000,000	$1.957M	1.0%	$0.80	—	NOTE 5.500% 3/1	09257WAE0
—	TWO HARBORS INV CORP	1,509,000	$1.509M	0.8%	$0.95	—	NOTE 6.250% 1/1	90187BAB7
MFA	MFA FINL INC	144,000	$1.341M	0.7%	$10.42	—	COM	55272X607
JBBB	JANUS DETROIT STR TR	25,000	$1.192M	0.6%	$48.17	—	B-BBB CLO ETF	47103U753
ACRE	ARES COML REAL ESTATE CORP	214,937	$1.027M	0.5%	$4.63	—	COM	04013V108
TSLX	SIXTH STREET SPECIALTY LENDI	32,041	$696K	0.3%	$18.76	+16.2%	COM	83012A109
CCC	CCC INTELLIGENT SOLUTIONS HL	76,529	$608K	0.3%	$11.28	-27.9%	COM	12510Q100
ARCC	ARES CAPITAL CORP	25,000	$506K	0.3%	$19.79	0.0%	COM	04010L103