UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: September 30,1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Delphi Management, Inc.
Address: 50 Rowes Wharf
Suite 540
Boston, MA 02110
13F File Number: 28-99999
The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, lists, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Brian Carpenito
Title: Analyst
Phone: 617-330-1025
Signature, Place, and Date of Signing:
Brian Carpenito Boston, Massachusetts October 26, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 163
Form 13F Information Table Value Total: $1,015,472
List of Other Included Managers: None
<PAGE>
<TABLE> <C> <C>
VALUE INVSTMT OTH VOTING AUTHORITY
NAME OF ISSUE TITLE OF CLASS CUSIP (x$1000) SHARES DSCRETN MGRS SOLE SHARED NONE
GREY ADVERTISING INC COM COM 397838103 16406 44581 SOLE 44581
CENTRAL NEWSPAPERS INC CL A CLASS A 154647101 18828 423100 SOLE 423100
COMCAST CORP CL A SPL CLASS A 200300200 9789 245500 SOLE 245500
COX COMMUNICATIONS CLASS A 244044107 2618 62700 SOLE 62700
GANNETT INC COM COM 364730101 8628 124700 SOLE 124700
HARTE-HANKS INC COM 496196103 1816 72100 SOLE 72100
HEARST-ARGYLE TELEVISN COM COM 422317107 10276 477950 SOLE 477950
INFORMATION HLDGS INC COM COM 456727106 3425 176200 SOLE 176200
JONES INTERCABLE INC CL A CLASS A 480206200 13151 243250 SOLE 243250
KNIGHT RIDDER INC COM COM 499040103 15522 282225 SOLE 282225
LEE ENTERPRISES INC COM COM 523768109 12441 454450 SOLE 454450
MCCLATCHY CO CL A CLASS A 579489105 15012 419924 SOLE 419924
MCGRAW HILL COS INC COM COM 580645109 12057 249250 SOLE 249250
MEREDITH CORP COM 589433101 2792 76900 SOLE 76900
NEWS CORP LTD ADR NEW ADR 652487703 5198 182800 SOLE 182800
PENTON MEDIA INC COM COM 709668107 5732 352729 SOLE 352729
SCRIPPS E W CO OHIO CL A CLASS A 811054204 13983 284650 SOLE 284650
TELECOMM NEW COM LIB GRP A CLASS A 001957208 9086 243500 SOLE 243500
TIME WARNER INC COM COM 887315109 6944 114300 SOLE 114300
TIME WARNER TELECOM CLASS A 887319101 2962 141900 SOLE 141900
UNITED STATES CELLULAR COM COM 911684108 19256 283170 SOLE 283170
UNITED TELEVISION INC COM COM 913066106 6980 61905 SOLE 61905
VIACOM INC CL B CLASS B 925524308 6359 150500 SOLE 150500
WASHINGTON POST CO CL B CLASS B 939640108 18492 36259 SOLE 36259
CLAIRE'S STORES INC COM COM 179584107 10618 641100 SOLE 641100
FEDERATED DEPT STORES COM COM 31410H101 8036 183950 SOLE 183950
MAY DEPT STORES CO COM COM 577778103 5361 147137 SOLE 147137
ROSS STORES INC COM COM 778296103 12188 605600 SOLE 605600
SAKS INC COM 79377W108 3379 222500 SOLE 222500
CABOT OIL & GAS CORP CL A CLASS A 127097103 5555 322000 SOLE 322000
CROSS TIMBERS OIL CO COM COM 227573102 12056 893025 SOLE 893025
DEVON ENERGY CORP COM COM 251799102 4065 98100 SOLE 98100
GIANT INDS INC COM COM 374508109 1938 166700 SOLE 166700
GLOBAL MARINE INC COM COM 379352404 6782 412600 SOLE 412600
HUGOTON ROYALTY TRUST UNIT BEN INT 444717102 2830 274400 SOLE 274400
LAKEHEAD PIPELINE COM UNIT-CL A 511557100 2144 50300 SOLE 50300
LOUIS DREYFUS NAT GAS CORP COM 546011107 208 9700 SOLE 9700
OFFSHORE LOGISTICS INC COM COM 676255102 3410 330700 SOLE 330700
POOL ENERGY SVCS CO COM COM 732788104 4046 164300 SOLE 164300
ROWAN COS INC COM COM 779382100 7415 456300 SOLE 456300
SANTA FE INTL CORP ORD ORD G7805C108 8648 401050 SOLE 401050
SANTA FE SNYDER COM 80218K105 1215 135000 SOLE 135000
TALISMAN ENERGY COM 87425E103 1653 55200 SOLE 55200
TEPPCO PRTNRS LP UT LTD PARTNER 872384102 3878 193900 SOLE 193900
TIDEWATER COM 886423102 1183 46400 SOLE 46400
UNOCAL CORP COM COM 915289102 7414 200030 SOLE 200030
VINTAGE PETE INC COM COM 927460105 10251 759300 SOLE 759300
ACETO CORP COM COM 004446100 3350 308000 SOLE 308000
ENGELHARD CORP COM 292845104 219 12000 SOLE 12000
STEPHAN CO COM 858586100 432 19100 SOLE 19100
AK STL HLDG CORP COM 001547108 2643 144800 SOLE 144800
ROANOKE ELEC STL CORP COM 769841107 544 31100 SOLE 31100
APPLIED MATLS INC COM COM 038222105 4358 56100 SOLE 56100
ARROW ELECTRS INC COM COM 042735100 10386 589300 SOLE 589300
AVNET INC COM COM 053807103 11101 264300 SOLE 264300
COHU INC COM COM 192576106 12261 580400 SOLE 580400
ELBIT SYS LTD ORD ORD M3760D101 841 62300 SOLE 62300
ELECTROGLAS INC COM 285324109 3098 132550 SOLE 132550
HADCO CORP COM COM 404681108 2956 68350 SOLE 68350
HUBBELL INC CL B CLASS B 443510201 8162 256050 SOLE 256050
INTEGRATED DEVICE TECH COM 458118106 1913 103400 SOLE 103400
INTEGRATED SILICON SOL COM 45812P107 6133 625000 SOLE 625000
INTEL CORP COM COM 458140100 1584 21310 SOLE 21310
INVISION TECHNOLOGIES COM COM 461851107 125 35000 SOLE 35000
KEMET CORP COM 488360108 2094 65500 SOLE 65500
KLA-TENCOR CORP COM COM 482480100 8435 129775 SOLE 129775
KULICKE & SOFFA INDS INC COM 501242101 7021 288800 SOLE 288800
LITTON INDS INC COM COM 538021106 12352 225600 SOLE 225600
LSI LOGIC CORP COM COM 502161102 17789 342100 SOLE 342100
LTX CORP COM 502392103 602 44000 SOLE 44000
NU HORIZONS ELECTRS CP COM COM 669908105 1333 166650 SOLE 166650
SCITEX LTD ORD ORD 809090103 396 36200 SOLE 36100
SIGNAL TECHNOLOGY CORP COM 826675100 408 81550 SOLE 81550
SPEEDFAM-IPEC INC COM 847705100 4304 358700 SOLE 358700
TECH SYM CORP COM COM 878308105 4392 223100 SOLE 223100
TERADYNE INC COM COM 880770102 9337 264882 SOLE 264882
THOMAS & BETTS CORP COM COM 884315102 10557 207000 SOLE 20700
TOWER SEMICONDUCTOR ORD ORD M87915100 571 62600 SOLE 62600
VARIAN SEMICONDUCTOR COM 922207105 316 15000 SOLE 15000
COCA COLA BOTTLNG CONS COM COM 191098102 13029 232280 SOLE 232280
PEPSI BOTTLING GROUP COM COM 713409100 9776 572950 SOLE 572950
RYANS FAMILY STK HSE COM COM 783519101 9871 1096800 SOLE 1096800
SCHULTZ SAV O STORES COM COM 808196109 6310 400650 SOLE 400650
ALLIEDSIGNAL INC COM COM 019512102 8583 143200 SOLE 143200
AMPAL AMERN ISRAEL CP CL A CLASS A 032015109 508 78100 SOLE 78100
BERKSHIRE HATHAWAY INC CL B CLASS B 084670207 7771 4187 SOLE 4187
NATIONAL SVC INDS INC COM COM 637657107 10641 337800 SOLE 337800
NORSK HYDRO A S SPONSRD ADR SPONSORED ADR 656531605 5232 121680 SOLE 121680
PITTWAY CORP DEL CL A CLASS A 725790208 15172 481658 SOLE 481658
ST JOE CO COM COM 790148100 11276 522950 SOLE 522950
AGRIUM INC COM COM 008916108 4232 425900 SOLE 425900
ARVIN INDS INC COM 043339100 3576 115600 SOLE 115600
BANTA CORP COM COM 066821109 9318 417600 SOLE 417600
BIG FLOWER HLDGS INC COM COM 089159107 7919 279700 SOLE 279700
COLUMBUS MCKINNON N Y COM COM 199333105 5058 293200 SOLE 293200
DANA CORP COM COM 235811106 7102 191300 SOLE 191300
EASTERN CO COM 276317104 21 1300 SOLE 1300
GORMAN RUPP CO COM 383082104 1499 96700 SOLE 96700
JOHNSON CTLS INC COM 478366107 2699 80700 SOLE 80700
LEAR CORP COM COM 521865105 4585 130300 SOLE 130300
POWELL INDS INC COM COM 739128106 350 40625 SOLE 40625
SIFCO INDS INC COM COM 826546103 1197 171000 SOLE 171000
SPS TECHNOLOGIES INC COM 784626103 2250 59300 SOLE 59300
STARRETT L S CO CL A CLASS A 855668109 4480 180800 SOLE 180800
TEXAS INDS INC COM COM 882491103 4109 111050 SOLE 111050
TRINITY INDS INC COM COM 896522109 10842 351150 SOLE 351150
ENNIS BUSINESS FORMS COM COM 293389102 2535 285612 SOLE 285612
ALBERTO CULVER CO CLASS A 013068200 1174 60000 SOLE 60000
AMERICAN GREETINGS CP CL A CLASS A 026375105 6159 239200 SOLE 239200
BLOCK DRUG INC CL A CLASS A 093644102 4528 125994 SOLE 125994
COACHMEN INDS INC COM COM 189873102 5089 328300 SOLE 328300
DISNEY WALT CO COM COM 254687106 8488 288012 SOLE 288012
HILFIGER TOMMY CORP ORD ORD G8915Z102 11625 412400 SOLE 412400
MOVADO GROUP INC COM COM 624580106 2561 111350 SOLE 111350
POLO RALPH LAUREN CORP CL A CLASS A 731572103 5016 279650 SOLE 279650
TANDY BRANDS ACCESSORS COM COM 875378101 472 34000 SOLE 34000
GERBER CHILDRENSWEAR COM COM 373701101 2830 62100 SOLE 62100
MAXWELL SHOE INC CL A CLASS A 577766108 1574 178600 SOLE 178600
D R HORTON INC COM COM 23331A109 4783 369700 SOLE 369700
DUKE REALTY INVT INC COM NW COM 264411505 1117 57300 SOLE 57300
GABLES RESIDENTIAL TR SH BEN INT 362418105 7578 315750 SOLE 315750
LENNAR CORP COM COM 526057104 6503 408000 SOLE 408000
LNR PPTY CORP COM COM 501940100 7524 369300 SOLE 369300
PLUM CREEK TIMBER DEP UNIT DEPOSITARY UNT 729235108 11193 356750 SOLE 356750
SMITH CHARLES RESIDNTL COM COM 832197107 12724 372175 SOLE 372175
SOUTHDOWN INC COM COM 841297104 9229 172500 SOLE 172500
SOVRAN SELF STORAGE COM COM 84610H108 8977 394600 SOLE 394600
TOLL BROTHERS INC COM COM 889478103 7965 417850 SOLE 417850
U S G CORP COM NEW COM 903293405 9451 198450 SOLE 198450
ARNOLD INDS INC COM COM 042595108 1541 122025 SOLE 122025
BANK OF AMERICA CORP NEW COM 060505104 4668 83825 SOLE 83825
BANKATLANTIC BANCORP CL A CLASS A 065908501 7339 1319308 SOLE 1319308
BANKATLANTIC BANCORP CL B CLASS B 065908105 722 113800 SOLE 113800
COLONIAL BANCGROUP INC COM COM 195493309 10730 959098 SOLE 959098
COMERICA INC COM 200340107 2258 44600 SOLE 44600
COMMUNITY BK SYS INC COM COM 203607106 2861 104550 SOLE 104550
FIRST ESSEX BANCORP COM COM 320103104 3229 204200 SOLE 204200
FIRST UN CORP COM COM 337358105 4347 122025 SOLE 122025
MAF BANCORP INC COM COM 55261R108 4544 228625 SOLE 228625
NORTH FORK BANCORPORTION NY COM 659424105 2510 128700 SOLE 128700
PEOPLES HERITAGE FINL COM COM 711147108 10600 637600 SOLE 637600
SOVEREIGN BANCORP INC COM COM 845905108 8965 985794 SOLE 985794
TOMPKINS CNTY TRUSTCO COM COM 890110109 1394 44600 SOLE 44600
UNION PLANTERS CORP COM COM 908068109 9829 241208 SOLE 241208
WARREN BANCORP INC COM COM 934710104 1368 152000 SOLE 152000
WEBSTER FINL CORP CONN COM COM 947890109 12337 483800 SOLE 483800
AMERICAN INTL GROUP COM COM 026874107 5564 63996 SOLE 63996
CENTRIS GROUP INC COM COM 155904105 4849 481900 SOLE 481900
CHUBB CORP COM COM 171232101 4330 87250 SOLE 872500
DONEGAL GROUP INC COM COM 257701102 723 104239 SOLE 104239
IPC HLDGS LTD ORD ORD G4933P101 7968 424975 SOLE 424975
PXRE CORP. COM 693674103 3021 207407 SOLE 207407
RENAISSANCE RE HLDGS COM COM G7496G103 12435 358500 SOLE 358500
SELECTIVE INS GROUP COM COM 816300107 6342 336000 SOLE 336000
TRANSATLANTIC HLDGS COM COM 893521104 12987 184875 SOLE 184875
UNITED FIRE & CAS CO COM COM 910331107 4569 198661 SOLE 198661
XL CAP LTD CL A CLASS A G98255105 11469 254875 SOLE 254875
BEAR STEARNS COS INC COM COM 073902108 11010 286428 SOLE 286428
DONALDSON LUFKN&JEN NW COM COM 257661108 11695 295600 SOLE 295600
GOLDMAN SACHS GROUP INC COM 38141G104 4114 67450 SOLE 67450
HEIDRICK & STRUGGLES INTL COM 422819102 3386 177600 SOLE 177600
MORGAN STAN DEAN WITTR NEW COM 617446448 5602 62813 SOLE 62813
</TABLE>
