Delphi Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 7, 2025), Delphi Management Inc. reported 80 stock positions worth $103.5 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 2.6% of the portfolio, followed by Jabil (JBL, 1.7%) and Apple (AAPL, 1.7%). Compared with Q1 2025, it opened 10 new positions, sold out of 8, added to 12 and reduced 58. The biggest buy was a new position in US Bancorp (USB) and the biggest sale an exit from Avalonbay Communities (AVB).
- Most Recent 13F
- Q2 2026
- Location
- BROOKLINE, MA
- CIK
- 0000767684
- Portfolio Value
- $103.5M (Q2 2025)
- SEC Filing
- 0000767684-25-000006 ↗ filed Jul 7, 2025
Holdings Value
Holdings 80 stocks · $103.5M
| BRK.B Berkshire Hathaway Inc. Class B | 2.64% | 5,616 | $2.7M | Reduce -8.0% |
| JBL Jabil Inc. | 1.70% | 8,087 | $1.8M | Reduce -15.0% |
| AAPL Apple Inc. | 1.69% | 8,507 | $1.7M | Reduce -7.7% |
| FLEX Flex Ltd. | 1.61% | 33,297 | $1.7M | Reduce -13.7% |
| BATRK Atlanta Braves Holdings in-C | 1.59% | 35,076 | $1.6M | Reduce -5.6% |
| CAKE The Cheesecake Factory Inc. | 1.57% | 26,016 | $1.6M | Reduce -8.0% |
| LRCX Lam Research Corp. | 1.57% | 16,662 | $1.6M | Reduce -0.0% |
| GS Goldman Sachs Group Inc. | 1.55% | 2,272 | $1.6M | Reduce -4.7% |
| MS Morgan Stanley | 1.54% | 11,321 | $1.6M | Reduce -2.7% |
| ORCL Oracle Corp. | 1.54% | 7,280 | $1.6M | Reduce -7.7% |
| KLAC KLA Corp. | 1.53% | 1,768 | $1.6M | Reduce -10.7% |
| JPM JPMorgan Chase & Co. | 1.52% | 5,426 | $1.6M | Reduce -5.0% |
| SANM Sanmina Corp. | 1.51% | 15,944 | $1.6M | Reduce -7.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.50% | 12,537 | $1.6M | Reduce -6.0% |
| TPR Tapestry Inc. | 1.49% | 17,538 | $1.5M | Reduce -6.1% |
| AMAT Applied Materials Inc. | 1.46% | 8,255 | $1.5M | Reduce -1.1% |
| AXP American Express Co. | 1.44% | 4,683 | $1.5M | Reduce -9.5% |
| NFG National Fuel Gas Co. | 1.44% | 17,546 | $1.5M | Reduce -9.8% |
| LDOS Leidos Holdings Inc. | 1.42% | 9,321 | $1.5M | Reduce -7.8% |
| NVS Novartis AG-Sponsored ADR | 1.42% | 12,147 | $1.5M | Reduce -8.7% |
| SNX TD Synnex Corp. | 1.42% | 10,812 | $1.5M | Add +1.7% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.41% | 19,917 | $1.5M | Reduce -11.0% |
| LH Labcorp Holdings Inc. | 1.39% | 5,475 | $1.4M | Reduce -10.5% |
| UNTY Unity Bancorp Inc. | 1.39% | 30,523 | $1.4M | Reduce -4.5% |
| DELL Dell Technologies -C | 1.39% | 11,707 | $1.4M | Reduce -6.6% |
| SSNC Ss&c Technologies Holdings | 1.39% | 17,328 | $1.4M | Reduce -5.2% |
| AZZ Azz Inc. | 1.38% | 15,141 | $1.4M | Reduce -5.8% |
| FISV Fiserv Inc. | 1.38% | 8,300 | $1.4M | Add +22.9% |
| STAG Stag Industrial Inc. | 1.37% | 39,041 | $1.4M | Reduce -4.5% |
| TXT Textron Inc. | 1.36% | 17,520 | $1.4M | Add +0.6% |
| HTGC Hercules Capital Inc. | 1.35% | 76,455 | $1.4M | Add +5.3% |
| ITRN Ituran Location and Control | 1.35% | 36,065 | $1.4M | Reduce -5.3% |
| JHG Janus Henderson Group PLC | 1.34% | 35,829 | $1.4M | Reduce -0.2% |
| DOX Amdocs Ltd. | 1.34% | 15,240 | $1.4M | Reduce -7.0% |
| INGR Ingredion Inc. | 1.34% | 10,214 | $1.4M | Reduce -8.3% |
| RL Ralph Lauren Corp. | 1.34% | 5,038 | $1.4M | Reduce -11.6% |
| ARCC Ares Capital Corp. | 1.33% | 62,699 | $1.4M | Reduce -4.6% |
| SF Stifel Financial Corp. | 1.33% | 13,254 | $1.4M | Reduce -3.2% |
| USB US Bancorp | 1.32% | 30,145 | $1.4M | New |
| ASX Ase Technology Holding -ADR | 1.32% | 131,950 | $1.4M | New |
| PRGS Progress Software Corp. | 1.31% | 21,237 | $1.4M | Reduce -5.8% |
| PUBGY Publicis Groupe-ADR | 1.30% | 49,467 | $1.4M | Add +69.9% |
| BXSL Blackstone Secured Lending F | 1.30% | 43,690 | $1.3M | Reduce -2.4% |
| SDZNY Sandoz Group AG-ADR | 1.29% | 24,443 | $1.3M | Add +55.1% |
| CB Chubb Ltd. | 1.28% | 4,569 | $1.3M | Reduce -8.0% |
| GHC Graham Holdings Co. Class B | 1.27% | 1,393 | $1.3M | Reduce -10.7% |
| THG Hanover Insurance Group Inc./ | 1.26% | 7,700 | $1.3M | Reduce -7.2% |
| HIG Hartford Insurance Group Inc. | 1.26% | 10,272 | $1.3M | New |
| CAC Camden National Corp. | 1.25% | 31,788 | $1.3M | Add +158.5% |
| REVG Rev Group Inc. | 1.24% | 26,937 | $1.3M | New |
| EXPE Expedia Group Inc. | 1.23% | 7,579 | $1.3M | Reduce -5.8% |
| ARW Arrow Electronics Inc. | 1.23% | 10,018 | $1.3M | Reduce -4.8% |
| DHI D.R. Horton Inc. | 1.23% | 9,902 | $1.3M | Add +9.8% |
| RNR Renaissancere Holdings Ltd. | 1.21% | 5,176 | $1.3M | Reduce -8.1% |
| NICE Nice Ltd. - Spon ADR | 1.21% | 7,389 | $1.2M | New |
| FR First Industrial Realty TR | 1.18% | 25,346 | $1.2M | New |
| ASIX Advansix Inc. | 1.15% | 50,290 | $1.2M | Reduce -3.0% |
| LEN Lennar Corp. Class A | 1.14% | 10,662 | $1.2M | Add +13.6% |
| CBT Cabot Corp. | 1.14% | 15,684 | $1.2M | Reduce -5.7% |
| EOG EOG Resources Inc. | 1.14% | 9,820 | $1.2M | Reduce -6.1% |
| TOL Toll Brothers Inc. | 1.14% | 10,291 | $1.2M | Add +8.0% |
| EG Everest Group Ltd. | 1.14% | 3,457 | $1.2M | Reduce -12.2% |
| SNA Snap-on Inc. | 1.12% | 3,721 | $1.2M | Reduce -8.2% |
| KBR KBR Inc. | 1.12% | 24,108 | $1.2M | Add +312.1% |
| NXST Nexstar Media Group Inc. | 1.11% | 6,657 | $1.2M | Reduce -6.7% |
| AZO AutoZone Inc. | 1.10% | 308 | $1.1M | Reduce -11.8% |
| FAF First American Financial | 1.08% | 18,126 | $1.1M | New |
| EXP Eagle Materials Inc. | 1.04% | 5,326 | $1.1M | Reduce -9.9% |
| MTDR Matador Resources Co. | 1.03% | 22,380 | $1.1M | Reduce -4.0% |
| FANG Diamondback Energy Inc. | 1.02% | 7,692 | $1.1M | Reduce -7.3% |
| ABBV Abbvie Inc. | 1.01% | 5,607 | $1.0M | Reduce -6.6% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.91% | 27,895 | $943K | Reduce -13.3% |
| OMC Omnicom Group | 0.91% | 13,037 | $938K | Reduce -16.4% |
| IAS Integral Ad Science Holding | 0.52% | 64,804 | $539K | New |
| ANF Abercrombie & Fitch Co. Class A | 0.52% | 6,456 | $535K | Add +0.0% |
| INCY Incyte Corp. | 0.46% | 6,932 | $472K | Reduce -6.5% |
| GBDC Golub Capital BDC Inc. | 0.42% | 29,898 | $438K | Reduce -1.8% |
| BHRB Burke & Herbert Financial SE | 0.30% | 5,184 | $310K | Reduce -6.1% |
| URBN Urban Outfitters Inc. | 0.29% | 4,195 | $304K | New |
| STLD Steel Dynamics Inc. | 0.19% | 1,572 | $201K | New |
Portfolio Sells Q1 2025 → Q2 2025
| AVB Avalonbay Communities Inc. | Sold out | 0.00% | −1.43 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −1.33 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −1.32 |
| OSK Oshkosh Corp. | Sold out | 0.00% | −1.19 |
| PLAB Photronics Inc. | Sold out | 0.00% | −1.16 |
| EMN Eastman Chemical Co. | Sold out | 0.00% | −1.14 |
| GPN Global Payments Inc. | Sold out | 0.00% | −1.14 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -8.0% | 2.64% | −0.68 |
| CVLG Covenant Logistics Group Inc. | Sold out | 0.00% | −0.52 |
| SLB SLB Ltd. | Reduce -13.3% | 0.91% | −0.46 |
| OMC Omnicom Group | Reduce -16.4% | 0.91% | −0.41 |
| AAPL Apple Inc. | Reduce -7.7% | 1.69% | −0.40 |
| FANG Diamondback Energy Inc. | Reduce -7.3% | 1.02% | −0.33 |
| EG Everest Group Ltd. | Reduce -12.2% | 1.14% | −0.32 |
| EXP Eagle Materials Inc. | Reduce -9.9% | 1.04% | −0.30 |
| ABBV Abbvie Inc. | Reduce -6.6% | 1.01% | −0.28 |
| SNA Snap-on Inc. | Reduce -8.2% | 1.12% | −0.27 |
| CBT Cabot Corp. | Reduce -5.7% | 1.14% | −0.27 |
| GHC Graham Holdings Co. Class B | Reduce -10.7% | 1.27% | −0.25 |
| AZO AutoZone Inc. | Reduce -11.8% | 1.10% | −0.25 |
| CB Chubb Ltd. | Reduce -8.0% | 1.28% | −0.25 |
| EOG EOG Resources Inc. | Reduce -6.1% | 1.14% | −0.23 |
| WRB WR Berkley Corp. | Reduce -11.0% | 1.41% | −0.21 |
| THG Hanover Insurance Group Inc./ | Reduce -7.2% | 1.26% | −0.21 |
| INGR Ingredion Inc. | Reduce -8.3% | 1.34% | −0.20 |
| NXST Nexstar Media Group Inc. | Reduce -6.7% | 1.11% | −0.19 |
| DOX Amdocs Ltd. | Reduce -7.0% | 1.34% | −0.18 |
| MTDR Matador Resources Co. | Reduce -4.0% | 1.03% | −0.18 |
| BXSL Blackstone Secured Lending F | Reduce -2.4% | 1.30% | −0.18 |
| SSNC Ss&c Technologies Holdings | Reduce -5.2% | 1.39% | −0.17 |
| RNR Renaissancere Holdings Ltd. | Reduce -8.1% | 1.21% | −0.16 |
| ARCC Ares Capital Corp. | Reduce -4.6% | 1.33% | −0.15 |
| EXPE Expedia Group Inc. | Reduce -5.8% | 1.23% | −0.14 |
| STAG Stag Industrial Inc. | Reduce -4.5% | 1.37% | −0.14 |
| NFG National Fuel Gas Co. | Reduce -9.8% | 1.44% | −0.13 |
| NVS Novartis AG-Sponsored ADR | Reduce -8.7% | 1.42% | −0.09 |
| LH Labcorp Holdings Inc. | Reduce -10.5% | 1.39% | −0.06 |
| ITRN Ituran Location and Control | Reduce -5.3% | 1.35% | −0.05 |
| GBDC Golub Capital BDC Inc. | Reduce -1.8% | 0.42% | −0.05 |
| ASIX Advansix Inc. | Reduce -3.0% | 1.15% | −0.04 |
| BHRB Burke & Herbert Financial SE | Reduce -6.1% | 0.30% | −0.02 |
| INCY Incyte Corp. | Reduce -6.5% | 0.46% | −0.00 |
| AZZ Azz Inc. | Reduce -5.8% | 1.38% | +0.01 |
| SF Stifel Financial Corp. | Reduce -3.2% | 1.33% | +0.01 |
| JHG Janus Henderson Group PLC | Reduce -0.2% | 1.34% | +0.02 |
| AXP American Express Co. | Reduce -9.5% | 1.44% | +0.02 |
| LDOS Leidos Holdings Inc. | Reduce -7.8% | 1.42% | +0.03 |
| RL Ralph Lauren Corp. | Reduce -11.6% | 1.34% | +0.05 |
| UNTY Unity Bancorp Inc. | Reduce -4.5% | 1.39% | +0.06 |
| BATRK Atlanta Braves Holdings in-C | Reduce -5.6% | 1.59% | +0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| USB US Bancorp | New | 1.32% | +1.32 |
| ASX Ase Technology Holding -ADR | New | 1.32% | +1.32 |
| HIG Hartford Insurance Group Inc. | New | 1.26% | +1.26 |
| REVG Rev Group Inc. | New | 1.24% | +1.24 |
| NICE Nice Ltd. - Spon ADR | New | 1.21% | +1.21 |
| FR First Industrial Realty TR | New | 1.18% | +1.18 |
| FAF First American Financial | New | 1.08% | +1.08 |
| KBR KBR Inc. | Add +312.1% | 1.12% | +0.82 |
| CAC Camden National Corp. | Add +158.5% | 1.25% | +0.74 |
| SDZNY Sandoz Group AG-ADR | Add +55.1% | 1.29% | +0.62 |
| PUBGY Publicis Groupe-ADR | Add +69.9% | 1.30% | +0.61 |
| IAS Integral Ad Science Holding | New | 0.52% | +0.52 |
| URBN Urban Outfitters Inc. | New | 0.29% | +0.29 |
| SNX TD Synnex Corp. | Add +1.7% | 1.42% | +0.29 |
| STLD Steel Dynamics Inc. | New | 0.19% | +0.19 |
| TOL Toll Brothers Inc. | Add +8.0% | 1.14% | +0.11 |
| TXT Textron Inc. | Add +0.6% | 1.36% | +0.08 |
| DHI D.R. Horton Inc. | Add +9.8% | 1.23% | +0.07 |
| LEN Lennar Corp. Class A | Add +13.6% | 1.14% | +0.04 |
| ANF Abercrombie & Fitch Co. Class A | Add +0.0% | 0.52% | +0.01 |
| HTGC Hercules Capital Inc. | Add +5.3% | 1.35% | −0.07 |
| FISV Fiserv Inc. | Add +22.9% | 1.38% | −0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 83 | $102.3M | AAPL, BRK.B, AMAT, KLAC, LRCX |
| Q1 2026 | 79 | $83.6M | AAPL, BRK.B, NFG, EOG, DELL |
| Q4 2025 | 76 | $102.7M | BRK.B, AAPL, EXPE, TPR, GS |
| Q3 2025 | 81 | $107.8M | BRK.B, AAPL, KLAC, SNX, LRCX |
| Q2 2025 | 80 | $103.5M | BRK.B, JBL, AAPL, FLEX, BATRK |
| Q1 2025 | 78 | $98.1M | BRK.B, AAPL, WRB, NFG, SSNC |
| Q4 2024 | 79 | $103.5M | BRK.B, AAPL, EXPE, ITRN, AXP |
| Q3 2024 | 89 | $110.1M | BRK.B, AAPL, PRGS, STRL, TOL |
| Q2 2024 | 80 | $122.7M | BRK.B, AAPL, IRM, HTGC, SF |
| Q1 2024 | 84 | $128.9M | BRK.B, AAPL, FANG, OSK, EXP |