UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31,2000
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 April 24, 2000
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: 172
Form 13F Information Table Value Total: $1,309,204
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 2772 308000 SOLE 308000
AGRIUM INC COM COM 008916108 3057 379200 SOLE 379200
AK STEEL HOLDING CORP COM 001547108 1550 149400 SOLE 149400
ALBERTO CULVER A CLASS A 013068200 4629 211600 SOLE 211600
AMERICAN GREETINGS CP CL A CLASS A 026375105 5481 300350 SOLE 300350
AMERICAN INTL GROUP COM COM 026874107 5792 52896 SOLE 52896
AMPAL AMERN ISRAEL CP CL A CLASS A 032015109 678 35200 SOLE 35200
APPLIED MATLS INC COM COM 038222105 6726 71360 SOLE 71360
APTAR GPOUP INC COM 038336103 200 7500 SOLE 7500
ARNOLD INDS INC COM COM 042595108 1537 119925 SOLE 119925
ARROW ELECTRS INC COM COM 042735100 20879 592300 SOLE 592300
ARVIN INDS INC COM COM 043339100 2174 96100 SOLE 96100
AUTOZONE INC COM 053332102 3730 134400 SOLE 134400
AVNET INC COM COM 053807103 17684 280700 SOLE 280700
BANK OF AMERICA CORP NEW COM COM 060505104 4396 83825 SOLE 83825
BANTA CORP COM COM 066821109 7295 397000 SOLE 397000
BEAR STEARNS COS INC COM COM 073902108 14660 321304 SOLE 321304
BERKSHIRE HATHAWAY INC CL B CLASS B 084670207 7673 4216 SOLE 4216
BLOCK DRUG INC CL A CLASS A 093644102 4183 151774 SOLE 151774
BTU INT'L COM 056032105 1602 125000 SOLE 125000
CABOT OIL & GAS CORP CL A CLASS A 127097103 6568 363600 SOLE 363600
CENTRAL NEWSPAPERS INC CL A CLASS A 154647101 16301 487500 SOLE 487500
CHARTER COMMUNICATIONS COM 16117M107 12660 883600 SOLE 883600
CHUBB CORP COM COM 171232101 5807 85950 SOLE 85950
CLAIRE'S STORES INC COM COM 179584107 13398 667800 SOLE 667800
COACHMEN INDS INC COM COM 189873102 4555 328300 SOLE 328300
COCA COLA BOTTLNG CONS COM COM 191098102 12550 237080 SOLE 237080
COHU INC COM COM 192576106 19868 476600 SOLE 476600
COLONIAL BANCGROUP INC COM COM 195493309 10386 966098 SOLE 966098
COMCAST CORP CL A SPL COM 200300200 24780 571290 SOLE 571290
COMERICA INC COM 200340107 6419 153300 SOLE 153300
COMMUNITY BK SYS INC COM COM 203607106 2703 118500 SOLE 118500
COVENANT TRANSPORTATION INC COM 22284P105 1005 63300 SOLE 63300
COX COMMUNICATIONS INC. CLASS A 224044107 6164 127100 SOLE 127100
CROSS TIMBERS OIL CO COM COM 227573102 12581 963125 SOLE 963125
CVC INC. COM 126945104 933 29400 SOLE 29400
D R HORTON INC COM COM 23331A109 5787 443000 SOLE 443000
DANA CORP COM COM 235811106 4875 172950 SOLE 172950
DEVON ENERGY CORP COM COM 251799102 5701 117400 SOLE 117400
DIME BANCORP COM 25429Q102 59 3200 SOLE 3200
DISNEY WALT CO COM COM 254687106 11814 286412 SOLE 286412
DONALDSON LUFKN&JEN NW COM COM 257661108 16182 312700 SOLE 312700
DUKE REALTY INVT INC COM NEW COM 264411505 1532 80100 SOLE 80100
EASTERN CO COM 276317104 116 8300 SOLE 8300
ELBIT SYS LTD ORD ORD M3760D101 911 62300 SOLE 62300
ELECTROGLAS INC COM COM 285324109 4415 128900 SOLE 128900
EMERSON ELECTRIC CO COM 291011104 531 10000 SOLE 10000
ENGELHARD CORP. COM 292845104 257 17000 SOLE 17000
ENNIS BUSINESS FORMS COM COM 293389102 1831 252512 SOLE 252512
EOG RESOURCES COM 26875P101 8047 379800 SOLE 379800
FEDERATED DEPT STORES COM COM 31410H101 10265 242950 SOLE 242950
FEDEX CORP. COM 31428X106 13542 348900 SOLE 348900
FIRST ESSEX BANCORP COM COM 320103104 3152 204200 SOLE 204200
FLEETBOSTON FINANCIAL CORP. COM 339030108 66 1800 SOLE 1800
GABLES RESIDENTIAL TR SH BEN INT SH BEN INT 362418105 7136 317150 SOLE 317150
GANNETT INC COM COM 364730101 9282 131900 SOLE 131900
GENERAL DYNAMICS COM 369550108 13318 267700 SOLE 267700
GENERAL ELEC CO COM COM 369604103 187 1200 SOLE 1200
GENUINE PARTS CO COM 372460105 2805 117500 SOLE 117500
GIANT INDS INC COM COM 374508109 1410 156700 SOLE 156700
GILLETTE CO COM COM 375766102 45 1200 SOLE 1200
GLOBAL MARINE INC COM COM 379352404 18625 734000 SOLE 734000
GOLDMAN SACHS COM 38141G104 7025 66750 SOLE 66750
GORMAN RUPP CO COM 383082104 1532 97300 SOLE 97300
GREY ADVERTISING INC COM COM 397838103 17043 41671 SOLE 41671
HADCO CORP COM COM 404681108 4175 64350 SOLE 64350
HARTE HANKS INC. COM 416196103 11425 503600 SOLE 503600
HEARST-ARGYLE TELEVISN COM COM 422317107 11359 485950 SOLE 485950
HEIDRICK & STRUGGLES COM 422819102 4372 108950 SOLE 108950
HILFIGER TOMMY CORP ORD ORD G8915Z102 6450 444800 SOLE 444800
HILTON HOTELS CORP COM 432848109 3031 391100 SOLE 391100
HONEYWELL INTERNATIONAL INC COM 438516106 8451 160400 SOLE 160400
HUBBELL INC CL B CLASS B 443510201 6941 253550 SOLE 253550
HUGOTON ROYALTY TRUST UNIT BEN INT 444717102 2252 268900 SOLE 268900
INFORMATION HLDGS INC COM COM 456727106 5523 176375 SOLE 176375
INTEGRATED DEVICE TECHNOLOGY COM 458118106 2870 72425 SOLE 72425
INTEGRATED SILIC SOLTN COM COM 45812P107 13387 456700 SOLE 456700
INTEL CORP COM COM 458140100 2581 19560 SOLE 19560
INTERPUBLIC GROUP COM 460690100 7914 167500 SOLE 167500
INVISION TECHNOLOGIES COM COM 461851107 190 28700 SOLE 28700
IPC HLDGS LTD ORD ORD G4933P101 5635 469575 SOLE 469575
JOHNSON CTLS INC COM 478366107 10272 190000 SOLE 190000
KEMET CORP. COM 488360108 3991 63100 SOLE 63100
KLA-TENCOR CORP COM COM 482480100 15308 181700 SOLE 181700
KNIGHT RIDDER INC COM COM 499040103 15056 293775 SOLE 293775
KULICKE AND SOFFA IND. COM 501242101 16861 263200 SOLE 263200
LAKEHEAD PIPELINE COM 511557100 2141 61600 SOLE 61600
LEAR CORP COM COM 521865105 4368 155300 SOLE 155300
LEE ENTERPRISES INC COM COM 523768109 12034 460650 SOLE 460650
LENNAR CORP COM COM 526057104 8495 391700 SOLE 391700
LITTON INDS INC COM COM 538021106 11095 251100 SOLE 251100
LNR PPTY CORP COM COM 501940100 7084 371600 SOLE 371600
LOUIS DREYFUS NATURAL GAS CORP COM 546011107 3434 101000 SOLE 101000
LSI LOGIC CORP COM COM 502161102 23668 325900 SOLE 325900
LTX CORP COM COM 502392103 1197 26500 SOLE 26500
MAF BANCORP INC COM COM 55261R108 3209 198250 SOLE 198250
MASCO CORP COM 574599106 4326 211000 SOLE 211000
MAXWELL SHOE INC CL A CLASS A 577766108 1443 171000 SOLE 171000
MAY DEPT STORES CO COM COM 577778103 5131 180037 SOLE 180037
MCCLATCHY CO CL A CLASS A 579489105 14072 429674 SOLE 429674
MCGRAW HILL COS INC COM COM 580645109 15927 350050 SOLE 350050
MEDIAONE GRP COM 58440J500 3266 62800 SOLE 62800
MEREDITH CORP. COM 589433101 3417 123400 SOLE 123400
METHODE ELECTRONICS INC CLASS A 591520200 1260 24950 SOLE 24950
MORGAN STAN DEAN WITTR COM NEW COM 617446448 8920 107626 SOLE 107626
MOVADO GROUP INC COM COM 624580106 1541 153150 SOLE 153150
NABORS INDUSTRIES COM 629568106 9897 255007 SOLE 255007
NATIONAL SVC INDS INC COM COM 637657107 7422 352400 SOLE 352400
NEWS CORP LTD ADR NEW ADR 652487703 7782 138350 SOLE 138350
NORSK HYDRO A S SPONSORED ADR ADR 656531605 4963 130380 SOLE 130380
NORTH FORK BANCORPORATION COM 659424105 6812 381100 SOLE 381100
NU HORIZONS ELECTRS CP COM COM 669908105 2246 101507 SOLE 101507
OFFSHORE LOGISTICS INC COM COM 676255102 4103 295700 SOLE 295700
PENTON MEDIA INC COM COM 709668107 9150 351929 SOLE 351929
PEOPLES HERITAGE FINL COM COM 711147108 10229 681900 SOLE 681900
PEPSI BOTTLING GROUP COM COM 713409100 12135 606750 SOLE 606750
PLUM CREEK TIMBER DEPOSITARY UNT 729251108 9196 373450 SOLE 373450
POLO RALPH LAUREN CORP CL A CLASS A 731572103 5310 284150 SOLE 284150
RENAISSANCE RE HLDGS COM COM G7496G103 13573 332050 SOLE 332050
ROSS STORES INC COM COM 778296103 16545 687600 SOLE 687600
ROWAN COS INC COM COM 779382100 13630 463000 SOLE 463000
RYANS FAMILY STK HSE COM COM 783519101 10455 1093300 SOLE 093300
SAKS INC. COM 79377W108 3181 219400 SOLE 219400
SANTA FE INTL CORP ORD ORD G7805C108 16633 449550 SOLE 449550
SANTA FE SNYDER COM 80218K105 2340 246300 SOLE 246300
SCHULTZ SAV O STORES COM COM 808196109 4257 400650 SOLE 400650
SCITEX LTD ORD ORD 809090103 504 32400 SOLE 32400
SCRIPPS E W CO OHIO CL A CLASS A 811054204 14121 291150 SOLE 291150
SIFCO INDS INC COM COM 826546103 861 146500 SOLE 146500
SIGNAL TECHNOLOGY CORP COM COM 826675100 1047 40250 SOLE 40250
SMITH CHARLES RESIDNTL COM COM 832197107 13409 371175 SOLE 371175
SOUTHDOWN INC COM COM 841297104 9978 168400 SOLE 168400
SOUTHTRUST CORP COM 844730101 2518 99000 SOLE 99000
SOVEREIGN BANCORP INC COM COM 845905108 7360 973198 SOLE 973198
SOVEREIGN CONVERTIBLE PREF. COM 845905306 1032 21175 SOLE 21175
SOVRAN SELF STORAGE COM COM 84610H108 7906 390400 SOLE 390400
SPEEDFAM-IPEC INC. COM 847705100 7648 384800 SOLE 384800
SPS TECHNOLOGIES COM 784626103 3727 122200 SOLE 122200
ST JOE CO COM COM 790148100 15039 519700 SOLE 519700
STARRETT L S CO CL A CLASS A 855668109 3776 160700 SOLE 160700
STEPAN CO. COM 858586100 492 22700 SOLE 22700
TALISMAN ENERGY INC COM 87425E103 4650 162800 SOLE 162800
TANDY BRANDS ACCESSORS COM COM 875378101 280 32000 SOLE 32000
TECH SYM CORP COM COM 878308105 4451 220500 SOLE 220500
AT&T LIBERTY MEDIA GRP A CLASS A 001957208 13262 223600 SOLE 223600
TELEDYNE TECH COM 879360105 1795 103300 SOLE 103300
TEPPCO PARTNERS L P UT LTD PARTNEUT LTD PART 872384102 4526 203400 SOLE 203400
TERADYNE INC COM COM 880770102 15054 183582 SOLE 183582
TEXAS INDS INC COM COM 882491103 3512 111050 SOLE 111050
TEXTRON INC. COM 883203101 244 4000 SOLE 4000
THOMAS & BETTS CORP COM COM 884315102 5441 192600 SOLE 192600
TIDEWATER INC. COM 886423102 11962 376000 SOLE 376000
TIME WARNER TELECOM CLASS A 887319101 10470 131700 SOLE 131700
TOLL BROTHERS INC COM COM 889478103 8459 422950 SOLE 422950
TOMPKINS CNTY TRUSTCO COM COM 890110109 1123 44700 SOLE 44700
TOWER SEMICONDUCTOR ORD ORD M87915100 915 40200 SOLE 40200
TRANSATLANTIC HLDGS COM COM 893521104 13883 162375 SOLE 162375
TRINITY INDS INC COM COM 896522109 7380 311550 SOLE 311550
U S G CORP COM NEW COM 903293405 8700 207450 SOLE 207450
UNION PLANTERS CORP COM COM 908068109 7047 228708 SOLE 228708
UNITED FIRE & CAS CO COM COM 910331107 3609 187461 SOLE 187461
UNITED STATES CELLULAR COM COM 911684108 16495 232320 SOLE 232320
UNITED TELEVISION INC COM COM 913066106 8195 61905 SOLE 61905
UNOCAL CORP COM COM 915289102 8741 293830 SOLE 293830
USA NETWORKS COM 902984103 4961 219900 SOLE 219900
VARCO INT'L COM 922126107 544 43100 SOLE 43100
VARIAN SEMICONDUCTOR COM 922207105 19037 299200 SOLE 299200
VIACOM INC CL B CLASS B 925524308 8783 166500 SOLE 166500
VINTAGE PETE INC COM COM 927460105 15140 752300 SOLE 752300
WARREN BANCORP INC COM COM 934710104 1007 152000 SOLE 152000
WASHINGTON POST CO CL B CLASS B 939640108 19784 36569 SOLE 36569
WEBSTER FINL CORP CONN COM COM 947890109 11606 504600 SOLE 504600
WILLIAMS COMPANIES INC COM 969457100 132 3000 SOLE 3000
XL CAP LTD CL A CLASS A G98255105 14507 261975 SOLE 261975
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