Delphi Management Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 20, 2026), Delphi Management Inc. reported 79 stock positions worth $83.6 million. Its top holding was Apple (AAPL) at 2.5% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 2.3%) and National Fuel Gas (NFG, 1.8%). Compared with Q4 2025, it opened 8 new positions, sold out of 5, added to 2 and reduced 69. The biggest buy was a new position in Academy Sports & Outdoors (ASO) and the biggest sale an exit from Janus Henderson (JHG).

Most Recent 13F
Q2 2026
Location
BROOKLINE, MA
CIK
0000767684
Portfolio Value
$83.6M (Q1 2026)
SEC Filing
0000767684-26-000002 ↗ filed Apr 20, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $128.9M Q1 2024 Q2 2024: $122.7M Q2 2024 Q3 2024: $110.1M Q3 2024 Q4 2024: $103.5M Q4 2024 Q1 2025: $98.1M Q1 2025 Q2 2025: $103.5M Q2 2025 Q3 2025: $107.8M Q3 2025 Q4 2025: $102.7M Q4 2025 Q1 2026: $83.6M $83.6M Q1 2026 Q2 2026: $102.3M Q2 2026

Holdings 79 stocks · $83.6M

AAPL Apple Inc. 2.45% 8,082 $2.1M Reduce -0.5%
BRK.B Berkshire Hathaway Inc. Class B 2.26% 3,948 $1.9M Reduce -21.4%
NFG National Fuel Gas Co. 1.78% 15,866 $1.5M Reduce -7.4%
EOG EOG Resources Inc. 1.76% 10,175 $1.5M Reduce -12.4%
DELL Dell Technologies -C 1.76% 8,959 $1.5M Reduce -22.6%
SNX TD Synnex Corp. 1.60% 7,922 $1.3M Reduce -19.8%
BATRK Atlanta Braves Holdings in-C 1.58% 30,908 $1.3M Reduce -13.3%
LH Labcorp Holdings Inc. 1.57% 4,921 $1.3M Reduce -13.1%
CAC Camden National Corp. 1.55% 27,375 $1.3M Reduce -23.5%
JBL Jabil Inc. 1.55% 4,884 $1.3M Reduce -29.4%
CB Chubb Ltd. 1.54% 3,949 $1.3M Reduce -23.8%
ASX Ase Technology Holding -ADR 1.53% 58,888 $1.3M Reduce -40.2%
FLEX Flex Ltd. filed as FLEXTRONICS INTL LTD 1.52% 19,456 $1.3M Reduce -20.6%
ITRN Ituran Location and Control 1.51% 25,774 $1.3M Reduce -27.2%
SDZNY Sandoz Group AG-ADR 1.51% 16,138 $1.3M Reduce -26.9%
ARW Arrow Electronics Inc. 1.49% 8,672 $1.2M Reduce -27.5%
AZZ Azz Inc. 1.49% 9,918 $1.2M Reduce -27.9%
RNR Renaissancere Holdings Ltd. 1.48% 4,163 $1.2M Reduce -20.4%
FR First Industrial Realty TR 1.48% 21,333 $1.2M Reduce -21.0%
GHC Graham Holdings Co. Class B 1.48% 1,166 $1.2M Reduce -14.5%
MTB M & T Bank Corp. filed as M & T BK CORP 1.47% 5,945 $1.2M Reduce -21.4%
NVS Novartis AG-Sponsored ADR 1.46% 7,988 $1.2M Reduce -31.9%
AMAT Applied Materials Inc. 1.46% 3,561 $1.2M Reduce -33.3%
THG Hanover Insurance Group Inc./ 1.46% 7,020 $1.2M Reduce -10.0%
TPR Tapestry Inc. 1.43% 8,484 $1.2M Reduce -35.3%
TRV The Travelers Cos Inc. 1.43% 4,097 $1.2M Reduce -11.0%
ASO Academy Sports & Outdoors Inc. 1.42% 21,077 $1.2M New
TXT Textron Inc. 1.40% 13,385 $1.2M Reduce -25.2%
USB US Bancorp 1.40% 22,419 $1.2M Reduce -23.6%
INGR Ingredion Inc. 1.39% 10,345 $1.2M Reduce -20.8%
TRNO Terreno Realty Corp. 1.39% 18,968 $1.2M Reduce -10.0%
UNTY Unity Bancorp Inc. 1.39% 22,466 $1.2M Reduce -20.8%
HIG Hartford Insurance Group Inc. 1.39% 8,582 $1.2M Reduce -20.5%
BHB Bar Harbor Bankshares filed as BAR HBR BANKSHARES 1.38% 35,658 $1.2M Reduce -18.2%
CCK Crown Holdings Inc. 1.38% 11,508 $1.2M Reduce -20.8%
ABBV Abbvie Inc. 1.38% 5,302 $1.2M Reduce -21.1%
STLD Steel Dynamics Inc. 1.38% 6,398 $1.2M Reduce -21.6%
CAKE The Cheesecake Factory Inc. 1.37% 20,983 $1.1M Reduce -29.1%
KLAC KLA Corp. 1.37% 779 $1.1M Reduce -20.0%
MS Morgan Stanley 1.37% 6,937 $1.1M Reduce -22.8%
RL Ralph Lauren Corp. 1.35% 3,291 $1.1M Reduce -21.4%
STAG Stag Industrial Inc. 1.35% 31,282 $1.1M Reduce -21.1%
LRCX Lam Research Corp. 1.33% 5,206 $1.1M Reduce -32.9%
GS Goldman Sachs Group Inc. 1.32% 1,308 $1.1M Reduce -29.9%
JPM JPMorgan Chase & Co. 1.32% 3,759 $1.1M Reduce -22.4%
FAF First American Financial 1.31% 18,200 $1.1M Reduce -20.6%
URBN Urban Outfitters Inc. 1.30% 17,181 $1.1M Add +329.0%
EXPE Expedia Group Inc. 1.30% 4,696 $1.1M Reduce -21.3%
AXS Axis Capital Holdings Ltd. 1.30% 10,687 $1.1M New
TOL Toll Brothers Inc. 1.29% 7,891 $1.1M Reduce -21.0%
SF Stifel Financial Corp. 1.28% 14,453 $1.1M Reduce -22.9%
SNA Snap-on Inc. 1.27% 2,920 $1.1M Reduce -20.8%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.23% 15,566 $1.0M Reduce -19.9%
SANM Sanmina Corp. 1.23% 7,958 $1.0M Reduce -22.6%
NXST Nexstar Media Group Inc. 1.21% 5,595 $1.0M Reduce -22.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.21% 10,481 $1.0M Reduce -20.7%
BXSL Blackstone Secured Lending F 1.21% 42,611 $1.0M Reduce -7.2%
SSNC Ss&c Technologies Holdings 1.20% 14,828 $1.0M Reduce -17.1%
HTGC Hercules Capital Inc. 1.18% 66,999 $990K Reduce -14.7%
AMTM Amentum Holdings Inc. 1.18% 37,873 $988K Reduce -22.9%
AXP American Express Co. 1.17% 3,239 $980K Reduce -22.5%
LDOS Leidos Holdings Inc. 1.17% 6,274 $976K Reduce -20.9%
EG Everest Group Ltd. 1.16% 2,978 $973K Reduce -20.1%
ARCC Ares Capital Corp. 1.14% 52,981 $955K Reduce -16.5%
SMP Standard Motor Prods 1.14% 27,455 $954K Reduce -20.8%
PUBGY Publicis Groupe-ADR 1.11% 44,679 $925K Reduce -20.8%
EXP Eagle Materials Inc. 1.05% 4,642 $879K Reduce -20.6%
AZO AutoZone Inc. 1.05% 260 $878K Add +12.1%
INCY Incyte Corp. 0.70% 6,169 $581K Reduce -0.2%
JLL Jones Lang Lasalle Inc. 0.68% 1,875 $571K New
IIIN Insteel Industries Inc. 0.51% 12,550 $422K New
MITK Mitek Systems Inc. 0.44% 27,090 $366K New
OMC Omnicom Group 0.43% 4,758 $358K Reduce -21.5%
ANF Abercrombie & Fitch Co. Class A 0.41% 3,760 $344K Reduce -32.6%
AROW Arrow Financial Corp. 0.34% 8,590 $288K New
CMC Commercial Metals Co. 0.33% 4,500 $276K New
IMOS Chipmos Technologies Inc.-ADR 0.30% 7,110 $254K New
GBDC Golub Capital BDC Inc. 0.23% 14,928 $189K Reduce -51.3%
TTAM Titan America SA 0.21% 11,836 $177K Reduce -57.1%

Portfolio Sells Q4 2025 → Q1 2026

JHG Janus Henderson Group PLC Sold out 0.00% −1.56
DHI D.R. Horton Inc. Sold out 0.00% −1.23
KBR KBR Inc. Sold out 0.00% −0.43
EXE Expand Energy Corp. Sold out 0.00% −0.40
EXPE Expedia Group Inc. Reduce -21.3% 1.30% −0.35
PRGS Progress Software Corp. Sold out 0.00% −0.34
AXP American Express Co. Reduce -22.5% 1.17% −0.33
SSNC Ss&c Technologies Holdings Reduce -17.1% 1.20% −0.32
PUBGY Publicis Groupe-ADR Reduce -20.8% 1.11% −0.32
ANF Abercrombie & Fitch Co. Class A Reduce -32.6% 0.41% −0.27
GS Goldman Sachs Group Inc. Reduce -29.9% 1.32% −0.27
SANM Sanmina Corp. Reduce -22.6% 1.23% −0.27
DIS The Walt Disney Co. Reduce -20.7% 1.21% −0.26
HTGC Hercules Capital Inc. Reduce -14.7% 1.18% −0.25
SF Stifel Financial Corp. Reduce -22.9% 1.28% −0.25
TTAM Titan America SA Reduce -57.1% 0.21% −0.23
LDOS Leidos Holdings Inc. Reduce -20.9% 1.17% −0.23
NXST Nexstar Media Group Inc. Reduce -22.5% 1.21% −0.22
AMTM Amentum Holdings Inc. Reduce -22.9% 1.18% −0.20
TPR Tapestry Inc. Reduce -35.3% 1.43% −0.20
JPM JPMorgan Chase & Co. Reduce -22.4% 1.32% −0.20
BRK.B Berkshire Hathaway Inc. Class B Reduce -21.4% 2.26% −0.19
MS Morgan Stanley Reduce -22.8% 1.37% −0.19
GBDC Golub Capital BDC Inc. Reduce -51.3% 0.23% −0.18
USB US Bancorp Reduce -23.6% 1.40% −0.13
EXP Eagle Materials Inc. Reduce -20.6% 1.05% −0.12
TXT Textron Inc. Reduce -25.2% 1.40% −0.12
ABBV Abbvie Inc. Reduce -21.1% 1.38% −0.12
NVS Novartis AG-Sponsored ADR Reduce -31.9% 1.46% −0.11
ARCC Ares Capital Corp. Reduce -16.5% 1.14% −0.11
SMP Standard Motor Prods Reduce -20.8% 1.14% −0.10
WRB WR Berkley Corp. Reduce -19.9% 1.23% −0.09
RL Ralph Lauren Corp. Reduce -21.4% 1.35% −0.09
CAKE The Cheesecake Factory Inc. Reduce -29.1% 1.37% −0.08
CCK Crown Holdings Inc. Reduce -20.8% 1.38% −0.08
STAG Stag Industrial Inc. Reduce -21.1% 1.35% −0.07
EG Everest Group Ltd. Reduce -20.1% 1.16% −0.07
HIG Hartford Insurance Group Inc. Reduce -20.5% 1.39% −0.06
FAF First American Financial Reduce -20.6% 1.31% −0.06
SDZNY Sandoz Group AG-ADR Reduce -26.9% 1.51% −0.05
OMC Omnicom Group Reduce -21.5% 0.43% −0.05
UNTY Unity Bancorp Inc. Reduce -20.8% 1.39% −0.04
CB Chubb Ltd. Reduce -23.8% 1.54% −0.04
FR First Industrial Realty TR Reduce -21.0% 1.48% −0.03
TOL Toll Brothers Inc. Reduce -21.0% 1.29% −0.03
ASX Ase Technology Holding -ADR Reduce -40.2% 1.53% −0.02
MTB M & T Bank Corp. Reduce -21.4% 1.47% −0.01
INGR Ingredion Inc. Reduce -20.8% 1.39% −0.01
JBL Jabil Inc. Reduce -29.4% 1.55% +0.02
GHC Graham Holdings Co. Class B Reduce -14.5% 1.48% +0.02

Portfolio Buys Q4 2025 → Q1 2026

ASO Academy Sports & Outdoors Inc. New 1.42% +1.42
AXS Axis Capital Holdings Ltd. New 1.30% +1.30
URBN Urban Outfitters Inc. Add +329.0% 1.30% +1.01
JLL Jones Lang Lasalle Inc. New 0.68% +0.68
IIIN Insteel Industries Inc. New 0.51% +0.51
MITK Mitek Systems Inc. New 0.44% +0.44
AROW Arrow Financial Corp. New 0.34% +0.34
CMC Commercial Metals Co. New 0.33% +0.33
IMOS Chipmos Technologies Inc.-ADR New 0.30% +0.30
AZO AutoZone Inc. Add +12.1% 1.05% +0.28

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 83$102.3MAAPL, BRK.B, AMAT, KLAC, LRCX
Q1 2026 79$83.6MAAPL, BRK.B, NFG, EOG, DELL
Q4 2025 76$102.7MBRK.B, AAPL, EXPE, TPR, GS
Q3 2025 81$107.8MBRK.B, AAPL, KLAC, SNX, LRCX
Q2 2025 80$103.5MBRK.B, JBL, AAPL, FLEX, BATRK
Q1 2025 78$98.1MBRK.B, AAPL, WRB, NFG, SSNC
Q4 2024 79$103.5MBRK.B, AAPL, EXPE, ITRN, AXP
Q3 2024 89$110.1MBRK.B, AAPL, PRGS, STRL, TOL
Q2 2024 80$122.7MBRK.B, AAPL, IRM, HTGC, SF
Q1 2024 84$128.9MBRK.B, AAPL, FANG, OSK, EXP