Delphi Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Delphi Management Inc. reported 76 stock positions worth $102.7 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 2.5% of the portfolio, followed by Apple (AAPL, 2.2%) and Expedia (EXPE, 1.6%). Compared with Q3 2025, it opened 6 new positions, sold out of 11, added to 24 and reduced 46. The biggest buy was a new position in M & T Bank (MTB) and the biggest sale an exit from Amdocs (DOX).
- Most Recent 13F
- Q2 2026
- Location
- BROOKLINE, MA
- CIK
- 0000767684
- Portfolio Value
- $102.7M (Q4 2025)
- SEC Filing
- 0000767684-26-000001 ↗ filed Jan 21, 2026
Holdings Value
Holdings 76 stocks · $102.7M
| BRK.B Berkshire Hathaway Inc. Class B | 2.46% | 5,022 | $2.5M | Reduce -2.9% |
| AAPL Apple Inc. | 2.15% | 8,124 | $2.2M | Reduce -3.4% |
| EXPE Expedia Group Inc. | 1.64% | 5,963 | $1.7M | Reduce -17.2% |
| TPR Tapestry Inc. | 1.63% | 13,104 | $1.7M | Reduce -6.5% |
| GS Goldman Sachs Group Inc. | 1.60% | 1,865 | $1.6M | Reduce -8.6% |
| CB Chubb Ltd. | 1.58% | 5,184 | $1.6M | Add +13.3% |
| NVS Novartis AG-Sponsored ADR | 1.57% | 11,723 | $1.6M | Reduce -2.8% |
| SDZNY Sandoz Group AG-ADR | 1.56% | 22,069 | $1.6M | Reduce -9.5% |
| JHG Janus Henderson Group PLC | 1.56% | 33,562 | $1.6M | Reduce -3.0% |
| MS Morgan Stanley | 1.55% | 8,980 | $1.6M | Reduce -9.8% |
| ASX Ase Technology Holding -ADR | 1.54% | 98,529 | $1.6M | Reduce -25.1% |
| JBL Jabil Inc. | 1.54% | 6,914 | $1.6M | Reduce -2.0% |
| USB US Bancorp | 1.53% | 29,358 | $1.6M | Reduce -1.9% |
| SSNC Ss&c Technologies Holdings | 1.52% | 17,888 | $1.6M | Add +3.6% |
| SF Stifel Financial Corp. | 1.52% | 12,494 | $1.6M | Reduce -2.5% |
| JPM JPMorgan Chase & Co. | 1.52% | 4,845 | $1.6M | Reduce -3.3% |
| TXT Textron Inc. | 1.52% | 17,891 | $1.6M | Reduce -2.1% |
| CAC Camden National Corp. | 1.51% | 35,788 | $1.6M | Reduce -0.7% |
| FR First Industrial Realty TR | 1.51% | 27,010 | $1.5M | Reduce -0.3% |
| AXP American Express Co. | 1.51% | 4,179 | $1.5M | Reduce -9.9% |
| SANM Sanmina Corp. | 1.50% | 10,277 | $1.5M | Reduce -21.7% |
| ABBV Abbvie Inc. | 1.49% | 6,720 | $1.5M | Reduce -3.0% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 1.48% | 7,566 | $1.5M | New |
| ITRN Ituran Location and Control | 1.48% | 35,402 | $1.5M | Reduce -2.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.46% | 13,220 | $1.5M | Add +6.4% |
| GHC Graham Holdings Co. Class B | 1.46% | 1,364 | $1.5M | Reduce -1.4% |
| CCK Crown Holdings Inc. | 1.46% | 14,530 | $1.5M | New |
| CAKE The Cheesecake Factory Inc. | 1.45% | 29,586 | $1.5M | Add +29.7% |
| HIG Hartford Insurance Group Inc. | 1.45% | 10,794 | $1.5M | Add +4.2% |
| SNX TD Synnex Corp. | 1.45% | 9,877 | $1.5M | Reduce -5.8% |
| RL Ralph Lauren Corp. | 1.44% | 4,186 | $1.5M | Reduce -15.7% |
| FLEX Flex Ltd. | 1.44% | 24,491 | $1.5M | Reduce -10.0% |
| HTGC Hercules Capital Inc. | 1.44% | 78,512 | $1.5M | Add +5.1% |
| AZZ Azz Inc. | 1.44% | 13,749 | $1.5M | Reduce -3.3% |
| RNR Renaissancere Holdings Ltd. | 1.43% | 5,227 | $1.5M | Reduce -1.1% |
| UNTY Unity Bancorp Inc. | 1.43% | 28,362 | $1.5M | Reduce -2.1% |
| NXST Nexstar Media Group Inc. | 1.43% | 7,220 | $1.5M | Add +8.3% |
| PUBGY Publicis Groupe-ADR | 1.42% | 56,439 | $1.5M | Reduce -2.2% |
| DELL Dell Technologies -C | 1.42% | 11,583 | $1.5M | Add +7.6% |
| STAG Stag Industrial Inc. | 1.42% | 39,622 | $1.5M | Add +1.6% |
| INGR Ingredion Inc. | 1.40% | 13,056 | $1.4M | Add +27.6% |
| LDOS Leidos Holdings Inc. | 1.39% | 7,933 | $1.4M | Reduce -5.8% |
| THG Hanover Insurance Group Inc./ | 1.39% | 7,799 | $1.4M | Add +1.3% |
| AMTM Amentum Holdings Inc. | 1.39% | 49,094 | $1.4M | New |
| LH Labcorp Holdings Inc. | 1.38% | 5,662 | $1.4M | Add +6.5% |
| FAF First American Financial | 1.37% | 22,910 | $1.4M | Add +3.1% |
| BATRK Atlanta Braves Holdings in-C | 1.37% | 35,655 | $1.4M | Add +18.2% |
| STLD Steel Dynamics Inc. | 1.35% | 8,161 | $1.4M | Add +399.1% |
| AMAT Applied Materials Inc. | 1.34% | 5,340 | $1.4M | Reduce -34.2% |
| NFG National Fuel Gas Co. | 1.34% | 17,141 | $1.4M | Reduce -1.5% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.33% | 19,426 | $1.4M | Reduce -2.6% |
| BHB Bar Harbor Bankshares filed as BAR HBR BANKSHARES | 1.32% | 43,583 | $1.4M | Add +0.4% |
| TOL Toll Brothers Inc. | 1.32% | 9,994 | $1.4M | Reduce -2.0% |
| TRV The Travelers Cos Inc. | 1.30% | 4,603 | $1.3M | New |
| LRCX Lam Research Corp. | 1.29% | 7,763 | $1.3M | Reduce -38.0% |
| ARW Arrow Electronics Inc. | 1.28% | 11,957 | $1.3M | Add +20.9% |
| ARCC Ares Capital Corp. | 1.25% | 63,422 | $1.3M | Reduce -0.8% |
| SMP Standard Motor Prods | 1.24% | 34,661 | $1.3M | Add +506.3% |
| SNA Snap-on Inc. | 1.24% | 3,687 | $1.3M | Reduce -1.2% |
| DHI D.R. Horton Inc. | 1.23% | 8,800 | $1.3M | Reduce -1.9% |
| EG Everest Group Ltd. | 1.23% | 3,729 | $1.3M | Add +7.6% |
| TRNO Terreno Realty Corp. | 1.21% | 21,084 | $1.2M | New |
| EOG EOG Resources Inc. | 1.19% | 11,619 | $1.2M | Add +18.4% |
| BXSL Blackstone Secured Lending F | 1.18% | 45,939 | $1.2M | Add +0.9% |
| EXP Eagle Materials Inc. | 1.18% | 5,843 | $1.2M | Add +9.5% |
| KLAC KLA Corp. | 1.15% | 974 | $1.2M | Reduce -39.9% |
| AZO AutoZone Inc. | 0.77% | 232 | $787K | Reduce -10.4% |
| ANF Abercrombie & Fitch Co. Class A | 0.68% | 5,575 | $702K | Reduce -13.8% |
| INCY Incyte Corp. | 0.59% | 6,179 | $610K | Reduce -10.3% |
| OMC Omnicom Group | 0.48% | 6,059 | $489K | Reduce -59.0% |
| TTAM Titan America SA | 0.44% | 27,615 | $455K | Add +31.0% |
| KBR KBR Inc. | 0.43% | 10,980 | $441K | Reduce -63.2% |
| GBDC Golub Capital BDC Inc. | 0.41% | 30,677 | $416K | Add +1.7% |
| EXE Expand Energy Corp. | 0.40% | 3,754 | $414K | New |
| PRGS Progress Software Corp. | 0.34% | 8,251 | $354K | Reduce -61.3% |
| URBN Urban Outfitters Inc. | 0.29% | 4,005 | $301K | Reduce -4.1% |
Portfolio Sells Q3 2025 → Q4 2025
| DOX Amdocs Ltd. | Sold out | 0.00% | −1.34 |
| ORCL Oracle Corp. | Sold out | 0.00% | −1.32 |
| FISV Fiserv Inc. | Sold out | 0.00% | −1.30 |
| REVG Rev Group Inc. | Sold out | 0.00% | −1.25 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −1.24 |
| NICE Nice Ltd. - Spon ADR | Sold out | 0.00% | −1.22 |
| NSIT Insight Enterprises Inc. | Sold out | 0.00% | −1.18 |
| CBT Cabot Corp. | Sold out | 0.00% | −1.11 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −1.02 |
| MTDR Matador Resources Co. | Sold out | 0.00% | −0.93 |
| KBR KBR Inc. | Reduce -63.2% | 0.43% | −0.88 |
| OMC Omnicom Group | Reduce -59.0% | 0.48% | −0.64 |
| PRGS Progress Software Corp. | Reduce -61.3% | 0.34% | −0.52 |
| KLAC KLA Corp. | Reduce -39.9% | 1.15% | −0.47 |
| AZO AutoZone Inc. | Reduce -10.4% | 0.77% | −0.26 |
| LRCX Lam Research Corp. | Reduce -38.0% | 1.29% | −0.26 |
| AMAT Applied Materials Inc. | Reduce -34.2% | 1.34% | −0.21 |
| DHI D.R. Horton Inc. | Reduce -1.9% | 1.23% | −0.18 |
| NFG National Fuel Gas Co. | Reduce -1.5% | 1.34% | −0.15 |
| MNR Mach Natural Resources LP | Sold out | 0.00% | −0.15 |
| SNX TD Synnex Corp. | Reduce -5.8% | 1.45% | −0.15 |
| WRB WR Berkley Corp. | Reduce -2.6% | 1.33% | −0.09 |
| LDOS Leidos Holdings Inc. | Reduce -5.8% | 1.39% | −0.08 |
| GHC Graham Holdings Co. Class B | Reduce -1.4% | 1.46% | −0.05 |
| FLEX Flex Ltd. | Reduce -10.0% | 1.44% | −0.02 |
| AZZ Azz Inc. | Reduce -3.3% | 1.44% | −0.00 |
| RL Ralph Lauren Corp. | Reduce -15.7% | 1.44% | −0.00 |
| ABBV Abbvie Inc. | Reduce -3.0% | 1.49% | +0.01 |
| TOL Toll Brothers Inc. | Reduce -2.0% | 1.32% | +0.01 |
| URBN Urban Outfitters Inc. | Reduce -4.1% | 0.29% | +0.02 |
| SNA Snap-on Inc. | Reduce -1.2% | 1.24% | +0.04 |
| ARCC Ares Capital Corp. | Reduce -0.8% | 1.25% | +0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.9% | 2.46% | +0.05 |
| INCY Incyte Corp. | Reduce -10.3% | 0.59% | +0.05 |
| JPM JPMorgan Chase & Co. | Reduce -3.3% | 1.52% | +0.05 |
| AXP American Express Co. | Reduce -9.9% | 1.51% | +0.08 |
| MS Morgan Stanley | Reduce -9.8% | 1.55% | +0.08 |
| TXT Textron Inc. | Reduce -2.1% | 1.52% | +0.09 |
| GS Goldman Sachs Group Inc. | Reduce -8.6% | 1.60% | +0.09 |
| SANM Sanmina Corp. | Reduce -21.7% | 1.50% | +0.10 |
| JBL Jabil Inc. | Reduce -2.0% | 1.54% | +0.11 |
| UNTY Unity Bancorp Inc. | Reduce -2.1% | 1.43% | +0.12 |
| JHG Janus Henderson Group PLC | Reduce -3.0% | 1.56% | +0.13 |
| PUBGY Publicis Groupe-ADR | Reduce -2.2% | 1.42% | +0.13 |
| NVS Novartis AG-Sponsored ADR | Reduce -2.8% | 1.57% | +0.14 |
| TPR Tapestry Inc. | Reduce -6.5% | 1.63% | +0.16 |
| AAPL Apple Inc. | Reduce -3.4% | 2.15% | +0.16 |
| ANF Abercrombie & Fitch Co. Class A | Reduce -13.8% | 0.68% | +0.17 |
| SF Stifel Financial Corp. | Reduce -2.5% | 1.52% | +0.17 |
| USB US Bancorp | Reduce -1.9% | 1.53% | +0.18 |
Portfolio Buys Q3 2025 → Q4 2025
| MTB M & T Bank Corp. | New | 1.48% | +1.48 |
| CCK Crown Holdings Inc. | New | 1.46% | +1.46 |
| AMTM Amentum Holdings Inc. | New | 1.39% | +1.39 |
| TRV The Travelers Cos Inc. | New | 1.30% | +1.30 |
| TRNO Terreno Realty Corp. | New | 1.21% | +1.21 |
| STLD Steel Dynamics Inc. | Add +399.1% | 1.35% | +1.14 |
| SMP Standard Motor Prods | Add +506.3% | 1.24% | +1.03 |
| EXE Expand Energy Corp. | New | 0.40% | +0.40 |
| CB Chubb Ltd. | Add +13.3% | 1.58% | +0.38 |
| CAKE The Cheesecake Factory Inc. | Add +29.7% | 1.45% | +0.30 |
| INGR Ingredion Inc. | Add +27.6% | 1.40% | +0.24 |
| BATRK Atlanta Braves Holdings in-C | Add +18.2% | 1.37% | +0.21 |
| NXST Nexstar Media Group Inc. | Add +8.3% | 1.43% | +0.20 |
| ARW Arrow Electronics Inc. | Add +20.9% | 1.28% | +0.17 |
| EOG EOG Resources Inc. | Add +18.4% | 1.19% | +0.17 |
| HIG Hartford Insurance Group Inc. | Add +4.2% | 1.45% | +0.17 |
| TTAM Titan America SA | Add +31.0% | 0.44% | +0.15 |
| DIS The Walt Disney Co. | Add +6.4% | 1.46% | +0.14 |
| STAG Stag Industrial Inc. | Add +1.6% | 1.42% | +0.14 |
| HTGC Hercules Capital Inc. | Add +5.1% | 1.44% | +0.13 |
| EG Everest Group Ltd. | Add +7.6% | 1.23% | +0.11 |
| SSNC Ss&c Technologies Holdings | Add +3.6% | 1.52% | +0.10 |
| BHB Bar Harbor Bankshares | Add +0.4% | 1.32% | +0.09 |
| THG Hanover Insurance Group Inc./ | Add +1.3% | 1.39% | +0.09 |
| BXSL Blackstone Secured Lending F | Add +0.9% | 1.18% | +0.08 |
| FAF First American Financial | Add +3.1% | 1.37% | +0.05 |
| EXP Eagle Materials Inc. | Add +9.5% | 1.18% | +0.02 |
| GBDC Golub Capital BDC Inc. | Add +1.7% | 0.41% | +0.02 |
| DELL Dell Technologies -C | Add +7.6% | 1.42% | +0.00 |
| LH Labcorp Holdings Inc. | Add +6.5% | 1.38% | −0.03 |
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 |