Fort Worth police say the defendants range in age from 15 to 23 and are believed to be gang members.
Investigators say 52-year-old Robert Bradley was at a homeless camp last Aug. 25 when he was attacked.
Police spokeswoman Sharron Neal said Thursday that Bradley apparently was a random target during a 24-hour crime spree including assaults and burglary.
The murder warrants were obtained Monday.
One of the suspects, Jose Plascencia Jr., is serving seven years in prison for engaging in organized crime in unrelated incidents. The other four individuals were arrested Wednesday.