Delphi Management
Scott BlackBROOKLINE, MAfiles as DELPHI MANAGEMENT INC /MA/
$102m in 83 US stocks at the end of 30 June 2026. The top 10 are 18.9% of the money. It changed about 9.8% of the portfolio this quarter.
Value
$102m
Stocks
83
Top 10 share
18.9%
Turnover
9.8%
What changed this quarter
New
Bought for the first time this quarter.
- Affiliated Managers GroupAMG1.3% of the fund
- Hewlett Packard EnterpriseHPE1.3% of the fund
- BradyBRC0.6% of the fund
- MedtronicMDT0.5% of the fund
- ABM IndustriesABM0.3% of the fund
- Lenovo GroupLNVGY0.2% of the fund
- Bristow GroupVTOL0.2% of the fund
Added
Bought more of a stock they already held.
- Berkshire HathawayBRK-B2.1% of the fund+11%
- Labcorp HoldingsLH1.6% of the fund+15%
- Expedia GroupEXPE1.5% of the fund+28%
- AbbVieABBV1.5% of the fund+11%
- M&T BankMTB1.4% of the fund+4%
- Renaissancere HoldingsRNR1.4% of the fund+11%
- ChubbCB1.4% of the fund+5%
- Eagle MaterialsEXP1.4% of the fund+34%
- US BancorpUSB1.4% of the fund+3%
- Nexstar Media GroupNXST1.4% of the fund+39%
- Travelers CompaniesTRV1.4% of the fund+2%
- JPMorgan ChaseJPM1.3% of the fund+12%
- Hartford Insurance GroupHIG1.3% of the fund+20%
- Goldman Sachs GroupGS1.3% of the fund+3%
- Terreno RealtyTRNO1.3% of the fund+10%
- Jones Lang LasalleJLL1.3% of the fund+133%
- Axis Capital HoldingsAXS1.3% of the fund+17%
- Standard Motor ProductsSMP1.3% of the fund+25%
- First Industrial Realty TrustFR1.3% of the fund+2%
- Everest GroupEG1.3% of the fund+25%
- STAG IndustrialSTAG1.3% of the fund+11%
- TextronTXT1.3% of the fund+8%
- Stifel FinancialSF1.2% of the fund+26%
- Academy Sports & OutdoorsASO1.2% of the fund+28%
- American ExpressAXP1.2% of the fund+11%
Cut
Sold some of their stake.
- Applied MaterialsAMAT2.1% of the fund-16%
- KLAKLAC2.0% of the fund-13%
- Lam ResearchLRCX2.0% of the fund-11%
- Dell TechnologiesDELL1.9% of the fund-49%
- ASE Technology HldgASX1.8% of the fund-31%
- JabilJBL1.6% of the fund-15%
- SanminaSANM1.5% of the fund-25%
- Cheesecake FactoryCAKE1.5% of the fund-10%
- Arrow ElectronicsARW1.5% of the fund-20%
- AZZAZZ1.4% of the fund-5%
- TD SynnexSNX1.4% of the fund-32%
- Atlanta Braves HoldingsBATRK1.4% of the fund-11%
- Ituran Location & ControlITRN1.4% of the fund-11%
- Steel DynamicsSTLD1.2% of the fund-15%
- FlexFLEX1.2% of the fund-61%
- National Fuel GasNFG1.1% of the fund-9%
- EOG ResourcesEOG1.0% of the fund-19%
- Chipmos TechnologiesIMOS0.4% of the fund-20%
- Titan America SATTAM0.2% of the fund-13%
Sold out
Sold their entire stake.
- IngredionINGR-100%
- Leidos HoldingsLDOS-100%
- Insteel IndustriesIIIN-100%
Holdings
- ASE Technology HldgASX
- Share
- 1.8%
- Value
- $2m
- Shares
- 40,926
-31%
- Sandoz Group AGSDZNY
- Share
- 1.4%
- Value
- $1m
- Shares
- 16,081
Held
- Publicis Groupe SAPUBGY
- Share
- 1.0%
- Value
- $1m
- Shares
- 44,770
Held
- Chipmos TechnologiesIMOS
- Share
- 0.4%
- Value
- $367,000
- Shares
- 5,715
-20%
- Lenovo GroupLNVGY
- Share
- 0.2%
- Value
- $255,000
- Shares
- 4,309
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AppleAAPL | 2.3% | $2m | 8,060 | Held |
| Berkshire HathawayBRK-B | 2.1% | $2m | 4,381 | +11% |
| Applied MaterialsAMAT | 2.1% | $2m | 2,984 | -16% |
| KLAKLAC | 2.0% | $2m | 6,775 | -13% |
| Lam ResearchLRCX | 2.0% | $2m | 4,609 | -11% |
| Dell TechnologiesDELL | 1.9% | $2m | 4,584 | -49% |
| ASE Technology HldgASX | 1.8% | $2m | 40,926 | -31% |
| JabilJBL | 1.6% | $2m | 4,159 | -15% |
| Labcorp HoldingsLH | 1.6% | $2m | 5,682 | +15% |
| Expedia GroupEXPE | 1.5% | $2m | 6,021 | +28% |
| SanminaSANM | 1.5% | $2m | 5,970 | -25% |
| Cheesecake FactoryCAKE | 1.5% | $2m | 18,892 | -10% |
| Hanover Insurance GroupTHG | 1.5% | $1m | 6,996 | Held |
| AbbVieABBV | 1.5% | $1m | 5,911 | +11% |
| Arrow ElectronicsARW | 1.5% | $1m | 6,953 | -20% |
| M&T BankMTB | 1.4% | $1m | 6,179 | +4% |
| AZZAZZ | 1.4% | $1m | 9,472 | -5% |
| Renaissancere HoldingsRNR | 1.4% | $1m | 4,633 | +11% |
| Camden NationalCAC | 1.4% | $1m | 26,845 | Held |
| Sandoz Group AGSDZNY | 1.4% | $1m | 16,081 | Held |
| Morgan StanleyMS | 1.4% | $1m | 6,942 | Held |
| TD SynnexSNX | 1.4% | $1m | 5,414 | -32% |
| Atlanta Braves HoldingsBATRK | 1.4% | $1m | 27,542 | -11% |
| ChubbCB | 1.4% | $1m | 4,145 | +5% |
| Eagle MaterialsEXP | 1.4% | $1m | 6,217 | +34% |
| US BancorpUSB | 1.4% | $1m | 23,156 | +3% |
| Ituran Location & ControlITRN | 1.4% | $1m | 22,874 | -11% |
| Nexstar Media GroupNXST | 1.4% | $1m | 7,751 | +39% |
| Travelers CompaniesTRV | 1.4% | $1m | 4,191 | +2% |
| JPMorgan ChaseJPM | 1.3% | $1m | 4,211 | +12% |
| Hartford Insurance GroupHIG | 1.3% | $1m | 10,329 | +20% |
| Goldman Sachs GroupGS | 1.3% | $1m | 1,351 | +3% |
| Terreno RealtyTRNO | 1.3% | $1m | 20,953 | +10% |
| BAR Harbor BanksharesBHB | 1.3% | $1m | 35,844 | Held |
| Jones Lang LasalleJLL | 1.3% | $1m | 4,361 | +133% |
| Axis Capital HoldingsAXS | 1.3% | $1m | 12,497 | +17% |
| Affiliated Managers GroupAMG | 1.3% | $1m | 3,965 | New |
| Standard Motor ProductsSMP | 1.3% | $1m | 34,279 | +25% |
| First Industrial Realty TrustFR | 1.3% | $1m | 21,780 | +2% |
| Graham HoldingsGHC | 1.3% | $1m | 1,162 | Held |
| Everest GroupEG | 1.3% | $1m | 3,710 | +25% |
| Ralph LaurenRL | 1.3% | $1m | 3,291 | Held |
| STAG IndustrialSTAG | 1.3% | $1m | 34,708 | +11% |
| TextronTXT | 1.3% | $1m | 14,394 | +8% |
| Unity BancorpUNTY | 1.3% | $1m | 22,426 | Held |
| Hewlett Packard EnterpriseHPE | 1.3% | $1m | 29,056 | New |
| Toll BrothersTOL | 1.3% | $1m | 7,915 | Held |
| Crown HoldingsCCK | 1.3% | $1m | 11,499 | Held |
| Stifel FinancialSF | 1.2% | $1m | 18,245 | +26% |
| Academy Sports & OutdoorsASO | 1.2% | $1m | 26,879 | +28% |
| Novartis AGNVS | 1.2% | $1m | 7,982 | Held |
| Steel DynamicsSTLD | 1.2% | $1m | 5,442 | -15% |
| First American FinancialFAF | 1.2% | $1m | 18,202 | Held |
| TapestryTPR | 1.2% | $1m | 8,489 | Held |
| FlexFLEX | 1.2% | $1m | 7,612 | -61% |
| Urban OutfittersURBN | 1.2% | $1m | 17,234 | Held |
| American ExpressAXP | 1.2% | $1m | 3,600 | +11% |
| Walt DisneyDIS | 1.2% | $1m | 12,432 | +19% |
| Snap-onSNA | 1.1% | $1m | 2,917 | Held |
| Amentum HoldingsAMTM | 1.1% | $1m | 55,469 | +46% |
| National Fuel GasNFG | 1.1% | $1m | 14,418 | -9% |
| Berkley W RWRB | 1.1% | $1m | 15,679 | Held |
| Hercules CapitalHTGC | 1.1% | $1m | 68,080 | Held |
| Publicis Groupe SAPUBGY | 1.0% | $1m | 44,770 | Held |
| EOG ResourcesEOG | 1.0% | $1m | 8,225 | -19% |
| AutozoneAZO | 1.0% | $1m | 323 | +24% |
| Blackstone Secured Lending FundBXSL | 1.0% | $1m | 42,766 | Held |
| SS&C Technologies HoldingsSSNC | 1.0% | $996,000 | 16,050 | +8% |
| Ares CapitalARCC | 1.0% | $983,000 | 53,060 | Held |
| Commercial MetalsCMC | 0.9% | $928,000 | 14,783 | +229% |
| IncyteINCY | 0.7% | $699,000 | 6,169 | Held |
| BradyBRC | 0.6% | $657,000 | 7,180 | New |
| Mitek SystemsMITK | 0.5% | $540,000 | 26,820 | Held |
| MedtronicMDT | 0.5% | $497,000 | 6,350 | New |
| Omnicom GroupOMC | 0.4% | $368,000 | 5,051 | +6% |
| Chipmos TechnologiesIMOS | 0.4% | $367,000 | 5,715 | -20% |
| ABM IndustriesABM | 0.3% | $352,000 | 7,960 | New |
| Arrow FinancialAROW | 0.3% | $351,000 | 8,555 | Held |
| Abercrombie & FitchANF | 0.3% | $338,000 | 3,760 | Held |
| Lenovo GroupLNVGY | 0.2% | $255,000 | 4,309 | New |
| Bristow GroupVTOL | 0.2% | $211,000 | 5,115 | New |
| Golub Capital BDCGBDC | 0.2% | $201,000 | 15,637 | +5% |
| Titan America SATTAM | 0.2% | $193,000 | 10,345 | -13% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 1.2% since 30 June 2025.
Where the money is
Financial services29.1%
Technology21.6%
Retail & consumer15.2%
Industrials5.4%
Health care5.4%
Real estate5.2%
Materials4.9%
Media & telecom2.9%
Utilities1.1%
Energy1.0%
Other8.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.