UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31,1999
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: Sean Gavin
Title: Analyst
Phone: 617-330-1025
Signature, Place, and Date of Signing:
Sean Gavin Boston, Massachusetts JANUARY 4, 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: 164
Form 13F Information Table Value Total: $1,130,545
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
ACETO CORP COM COM 004446100 3388 308000 SOLE 308000
AGRIUM INC COM COM 008916108 2885 366400 SOLE 366400
AK STEEL HOLDING CORP COM 001547108 2695 142800 SOLE 142800
ALBERTO CULVER A CLASS A 013068200 3173 145900 SOLE 145900
AMERICAN GREETINGS CP CL A CLASS A 026375105 5619 237850 SOLE 237850
AMERICAN INTL GROUP COM COM 026874107 6920 63996 SOLE 63996
AMPAL AMERN ISRAEL CP CL A CLASS A 032015109 722 78100 SOLE 78100
APPLIED MATLS INC COM COM 038222105 7107 56100 SOLE 56100
ARNOLD INDS INC COM COM 042595108 1716 122025 SOLE 122025
ARROW ELECTRS INC COM COM 042735100 15768 621400 SOLE 621400
ARVIN INDS INC COM COM 043339100 2474 87200 SOLE 87200
AUTOZONE INC COM 053332102 4039 125000 SOLE 125000
AVNET INC COM COM 053807103 16311 269600 SOLE 269600
BANK OF AMERICA CORP COM 060505104 4232 84325 SOLE 84325
BANKATLANTIC BANCORP CL A CLASS A 065908501 1604 388806 SOLE 388806
BANTA CORP COM COM 066821109 8382 371500 SOLE 371500
BEAR STEARNS COS INC COM COM 073902108 12906 301904 SOLE 301904
BERKSHIRE HATHAWAY INC CL B CLASS B 084670207 7750 4235 SOLE 4235
BLOCK DRUG INC CL A CLASS A 093644102 4085 131774 SOLE 131774
CABOT OIL & GAS CORP CL A CLASS A 127097103 5209 324300 SOLE 324300
CENTRAL NEWSPAPERS INC CL A CLASS A 154647101 16597 421500 SOLE 421500
CHARTER COMMUNICATIONS COM 16117M107 5898 269600 SOLE 269600
CHUBB CORP COM COM 171232101 4879 86650 SOLE 86650
CLAIRE'S STORES INC COM COM 179584107 14052 628000 SOLE 628000
COACHMEN INDS INC COM COM 189873102 4966 328300 SOLE 328300
COCA COLA BOTTLNG CONS COM 191098102 11004 232280 SOLE 232280
COHU INC COM COM 192576106 20975 676600 SOLE 676600
COLONIAL BANCGROUP INC COM 195493309 10029 966698 SOLE 966698
COLUMBUS MCKINNON N Y COM 199333105 1855 183200 SOLE 183200
COMCAST CORP CL A SPL CLASS A 200300200 12201 241300 SOLE 241300
COMERICA INC COM 200340107 2031 43500 SOLE 43500
COMMUNITY BK SYS INC COM COM 203607106 2467 106700 SOLE 106700
COX COMMUNICATIONS INC. CLASS A 224044107 3229 62700 SOLE 62700
CROSS TIMBERS OIL CO COM COM 227573102 8106 894425 SOLE 894425
CVC INC. COM 126945104 815 84700 SOLE 84700
D R HORTON INC COM COM 23331A109 5415 392000 SOLE 392000
DANA CORP COM COM 235811106 5004 167150 SOLE 167150
DEVON ENERGY CORP COM COM 251799102 3899 118600 SOLE 118600
DISNEY WALT CO COM COM 254687106 8427 288112 SOLE 288112
DONALDSON LUFKN&JEN COM 257661108 14338 296400 SOLE 296400
DUKE REALTY INVT INC COM 264411505 1125 57700 SOLE 57700
EASTERN CO COM 276317104 39 2500 SOLE 2500
ELBIT SYS LTD ORD ORD M3760D101 958 62300 SOLE 62300
ELECTROGLAS INC COM COM 285324109 3271 128900 SOLE 128900
ENGELHARD CORP. COM 292845104 227 12000 SOLE 12000
ENNIS BUSINESS FORMS COM COM 293389102 1957 252512 SOLE 252512
EOG RESOURCES COM 26875P101 2594 147700 SOLE 147700
FEDERATED DEPT STORES COM COM 31410H101 10272 203150 SOLE 203150
FIRST ESSEX BANCORP COM COM 320103104 2935 204200 SOLE 204200
FIRST UN CORP COM COM 337358105 3924 119125 SOLE 119125
GABLES RESIDENTIAL TR SH BEN INT 362418105 7607 316950 SOLE 316950
GANNETT INC COM COM 364730101 9967 122200 SOLE 122200
GIANT INDS INC COM COM 374508109 1312 156700 SOLE 156700
GLOBAL MARINE INC COM COM 379352404 10271 617800 SOLE 617800
GOLDMAN SACHS COM 38141G104 6353 67450 SOLE 67450
GORMAN RUPP CO COM 383082104 1703 97300 SOLE 97300
GREY ADVERTISING INC COM COM 397838103 17972 44931 SOLE 44931
HADCO CORP COM COM 404681108 3333 65350 SOLE 65350
HARTE HANKS INC. COM 416196103 4139 190300 SOLE 190300
HEARST-ARGYLE TELEVISN COM COM 422317107 12683 476350 SOLE 476350
HEIDRICK & STRUGGLES COM 422819102 5497 130100 SOLE 130100
HEWLETT PACKARD COM 428236103 250 2200 SOLE 2200
HILFIGER TOMMY CORP ORD ORD G8915Z102 10208 436700 SOLE 436700
HONEYWELL INTERNATIONAL INC COM 438516106 8722 151200 SOLE 151200
HUBBELL INC CL B CLASS B 443510201 6939 254650 SOLE 254650
HUGOTON ROYALTY TRUST UNIT BEN INT 444717102 2185 268900 SOLE 268900
INFORMATION HLDGS INC COM COM 456727106 5121 176200 SOLE 176200
INTEGRATED DEVICE TECH COM 458118106 3234 111500 SOLE 111500
INTEGRATED SILIC SOLTN COM COM 45812P107 10774 650500 SOLE 650500
INTEL CORP COM COM 458140100 1754 21310 SOLE 21310
INVISION TECHNOLOGIES COM COM 461851107 144 35000 SOLE 35000
IPC HLDGS LTD ORD ORD G4933P101 6310 424175 SOLE 424175
JOHNSON CTLS INC COM 478366107 4106 72200 SOLE 72200
JONES INTERCABLE INC CL A CLASS A 480206200 16756 241750 SOLE 241750
KEMET CORP. COM 488360108 3830 85000 SOLE 85000
KLA-TENCOR CORP COM COM 482480100 14454 129775 SOLE 129775
KNIGHT RIDDER INC COM COM 499040103 16733 280925 SOLE 280925
KULICKE AND SOFFA IND. COM 501242101 17165 403300 SOLE 403300
LAKEHEAD PIPELINE COM 511557100 1751 50300 SOLE 50300
LEAR CORP COM COM 521865105 4170 130300 SOLE 130300
LEE ENTERPRISES INC COM COM 523768109 14639 458350 SOLE 458350
LENNAR CORP COM COM 526057104 6224 383000 SOLE 383000
LITTON INDS INC COM COM 538021106 11434 229250 SOLE 229250
LNR PPTY CORP COM COM 501940100 7340 369300 SOLE 369300
LOUIS DREYFUS NAT GAS CORP COM 546011107 1521 83900 SOLE 83900
LSI LOGIC CORP COM COM 502161102 23092 342100 SOLE 342100
LTX CORP COM COM 502392103 929 41500 SOLE 41500
MAF BANCORP INC COM COM 55261R108 4151 198250 SOLE 198250
MAXWELL SHOE INC CL A CLASS A 577766108 1390 173700 SOLE 173700
MAY DEPT STORES CO COM COM 577778103 4861 150737 SOLE 150737
MCCLATCHY CO CL A CLASS A 579489105 18209 421024 SOLE 421024
MCGRAW HILL COS INC COM COM 580645109 15360 249250 SOLE 249250
MEDIAONE GRP COM 58440J500 3048 63500 SOLE 63500
MEREDITH CORP. COM 589433101 3264 78300 SOLE 78300
METHODE ELECTRONICS INC CLASS A 591520200 1436 44700 SOLE 44700
MORGAN STAN DEAN WITTR COM 617446448 8967 62813 SOLE 62813
MOVADO GROUP INC COM COM 624580106 3144 144150 SOLE 144150
NABORS INDUSTRIES COM 629568106 3372 109007 SOLE 109007
NATIONAL SVC INDS INC COM COM 637657107 9853 334000 SOLE 334000
NEWS CORP LTD ADR NEW ADR 652487703 6992 182800 SOLE 182800
NORSK HYDRO A S ADR 656531605 5582 130580 SOLE 130580
NORTH FORK BANCORPORATION COM 659424105 2938 169100 SOLE 169100
NU HORIZONS ELECTRS CP COM COM 669908105 2219 167482 SOLE 167482
OFFSHORE LOGISTICS INC COM COM 676255102 2772 295700 SOLE 295700
PENTON MEDIA INC COM COM 709668107 8487 353629 SOLE 353629
PEOPLES HERITAGE FINL COM COM 711147108 9604 637600 SOLE 637600
PEPSI BOTTLING GROUP COM COM 713409100 9393 567150 SOLE 567150
PITTWAY CORP DEL CL A CLASS A 725790208 20240 451658 SOLE 451658
PLUM CREEK TIMBER COM 729251108 8801 352050 SOLE 352050
POLO RALPH LAUREN CORP CL A CLASS A 731572103 4778 280050 SOLE 280050
RENAISSANCE RE HLDGS COM COM G7496G103 14654 358500 SOLE 358500
ROANOKE ELECTRIC CORP. COM 769841107 505 31100 SOLE 31100
ROSS STORES INC COM COM 778296103 11021 614400 SOLE 614400
ROWAN COS INC COM COM 779382100 10204 470500 SOLE 470500
RYANS FAMILY STK HSE COM COM 783519101 9285 1092300 SOLE 1092300
SAKS INC. COM 79377W108 3414 219400 SOLE 219400
SANTA FE INTL CORP ORD ORD G7805C108 11787 455550 SOLE 455550
SANTA FE SNYDER COM 80218K105 1264 158000 SOLE 158000
SCHULTZ SAV O STORES COM COM 808196109 5108 400650 SOLE 400650
SCITEX LTD ORD ORD 809090103 527 36200 SOLE 36200
SCRIPPS E W CO OHIO CL A CLASS A 811054204 12698 283350 SOLE 283350
SIFCO INDS INC COM COM 826546103 1116 156700 SOLE 156700
SIGNAL TECHNOLOGY CORP COM COM 826675100 591 81550 SOLE 81550
SMITH CHARLES RESIDNTL COM COM 832197107 13166 372175 SOLE 372175
SOUTHDOWN INC COM COM 841297104 8725 169000 SOLE 169000
SOVEREIGN BANCORP INC COM COM 845905108 7276 976198 SOLE 976198
SOVEREIGN CONVERTIBLE PREF. COM 845905306 1084 21200 SOLE 21200
SOVRAN SELF STORAGE COM COM 84610H108 7301 392000 SOLE 392000
SPEEDFAM-IPEC INC. COM 847705100 5152 398200 SOLE 398200
SPS TECHNOLOGIES COM 784626103 2038 63800 SOLE 63800
ST JOE CO COM COM 790148100 12640 519900 SOLE 519900
STARRETT L S CO CL A COM 855668109 3606 160700 SOLE 160700
STEPAN CO. COM 858586100 458 19600 SOLE 19600
TALISMAN ENERGY INC COM 87425E103 3556 138100 SOLE 138100
TANDY BRANDS ACCESSORS COM COM 875378101 472 34000 SOLE 34000
TECH SYM CORP COM COM 878308105 4601 223100 SOLE 223100
AT&T LIBERTY MEDIA GRP A CLASS A 001957208 13328 234600 SOLE 234600
TELEDYNE TECH COM 879360105 760 80500 SOLE 80500
TEPPCO PARTNERS L P UT LTD PART 872384102 3353 173600 SOLE 173600
TERADYNE INC COM COM 880770102 17581 266382 SOLE 266382
TEXAS INDS INC COM COM 882491103 4727 111050 SOLE 111050
THOMAS & BETTS CORP COM COM 884315102 6554 205600 SOLE 205600
TIDEWATER INC. COM 886423102 6779 188300 SOLE 188300
TIME WARNER INC COM COM 887315109 8294 114700 SOLE 114700
TIME WARNER TELECOM CLASS A 887319101 7600 152200 SOLE 152200
TOLL BROTHERS INC COM COM 889478103 7771 417250 SOLE 417250
TOMPKINS CNTY TRUSTCO COM COM 890110109 1311 45400 SOLE 45400
TOWER SEMICONDUCTOR ORD ORD M87915100 685 62600 SOLE 62600
TRANSATLANTIC HLDGS COM COM 893521104 14447 185075 SOLE 185075
TRINITY INDS INC COM COM 896522109 9070 318950 SOLE 318950
U S G CORP COM NEW COM 903293405 9352 198450 SOLE 198450
UNION PLANTERS CORP COM COM 908068109 9513 241208 SOLE 241208
UNITED FIRE & CAS CO COM COM 910331107 4241 187461 SOLE 187461
UNITED STATES CELLULAR COM COM 911684108 20669 204770 SOLE 204770
UNITED TELEVISION INC COM COM 913066106 8388 61905 SOLE 61905
UNOCAL CORP COM COM 915289102 6834 203630 SOLE 203630
VARIAN SEMICONDUCTOR COM 922207105 12410 365000 SOLE 365000
VIACOM INC CL B CLASS B 925524308 9193 152100 SOLE 152100
VINTAGE PETE INC COM COM 927460105 9219 764300 SOLE 764300
WARREN BANCORP INC COM COM 934710104 1140 152000 SOLE 152000
WASHINGTON POST CO CL B CLASS B 939640108 20397 36694 SOLE 36694
WEBSTER FINL CORP CONN COM COM 947890109 11404 484000 SOLE 484000
WILLIAMS COMPANIES INC COM 969457100 92 3000 SOLE 3000
XL CAP LTD CL A CLASS A G98255105 13227 254975 SOLE 254975
</TABLE>
