SEC 13F Intelligence

Managers / Q1 2023 · view latest →

BOSTON RESEARCH & MANAGEMENT INC

CIK 0001259261 · 40 BEACH STREET, SUITE 200, MANCHESTER, MA, 01944 · 978-526-9700

Reported Value
$335M
Q1 2023
Positions
110
Filings on Record
30
2019–present window
Filed
May 10, 2023
original filing

Summary

Boston Research & Management Inc reported $335M in U.S.-listed holdings across 110 positions for Q1 2023.

Its largest position, MSFT, represents 4.3% of the portfolio.

Compared with Q4 2022, the fund opened 7 new positions and exited 3.

Portfolio Metrics

Turnover
+4.8%
vs prior filed quarter
Top-10 Concentration
+28.0%
share of reported value
Largest Position
+4.3%
Microsoft
New / Exited
7 / 3
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $240MQ1 ’19Q2 ’19: $247MQ3 ’19: $253MQ4 ’19: $267MQ1 ’20: $199MQ1 ’20Q2 ’20: $241MQ3 ’20: $256MQ4 ’20: $287MQ1 ’21: $311MQ1 ’21Q2 ’21: $330MQ3 ’21: $336MQ4 ’21: $366MQ1 ’22: $344MQ1 ’22Q2 ’22: $309MQ3 ’22: $294MQ4 ’22: $323MQ1 ’23: $335MQ1 ’23Q2 ’23: $353MQ3 ’23: $338MQ4 ’23: $377MQ1 ’24: $405MQ1 ’24Q2 ’24: $395MQ3 ’24: $426MQ4 ’24: $407MQ1 ’25: $403MQ1 ’25Q2 ’25: $418MQ3 ’25: $453MQ4 ’25: $434MQ1 ’26: $421MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 59.9%Other: 25.7%ETP: 14.4%REIT: 0.1%
  • Common Stock · 59.9% · $200M
  • Other · 25.7% · $86M
  • ETP · 14.4% · $48M
  • REIT · 0.1% · $262,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Linde PLCNEW+17.1K17.1K+$6M$6M
GPIGroup 1 AutomotiveNEW+1.0K1.0K+$236,000$236,000
WORWorthington Industries, Inc.NEW+3.5K3.5K+$226,000$226,000
General Electric CompanyNEW+2.3K2.3K+$218,000$218,000
CLXClorox CompanyNEW+1.4K1.4K+$217,000$217,000
RSPInvesco S&P 500 ETFNEW+1.4K1.4K+$204,000$204,000
TUPTupperware CorporationNEW+39.3K39.3K+$98,000$98,000
Linde PLCSOLD OUT−17.2K0−$6M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

109 positions (from 110 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMicrosoft Corphistory →COM4.28%$14M49.7K
2IVViShares Core S&P 500 ETFhistory →COM4.20%$14M34.2K
3AAPLApple Inc.history →COM2.85%$10M57.8K
4TSCOTractor Supply Cohistory →COM2.57%$9M36.7K
5AbbVie Inc.COM2.53%$8M53.2K
6GISGeneral Mills Inc Comhistory →COM2.52%$8M98.6K
7Mastercard, Inc.COM2.38%$8M21.9K
8FASTFastenal Cohistory →COM2.37%$8M147.4K
9Cisco Systems, Inc.COM2.16%$7M138.3K
10IJRiShares Core S&P SmallCap ETFhistory →COM2.12%$7M73.3K
11WMTWal-Mart Storeshistory →COM2.07%$7M47.1K
12Alphabet, Inc. - Class ACOM2.06%$7M66.5K
13Xylem Inc.COM1.98%$7M63.4K
14MCDMcDonald's Corphistory →COM1.96%$7M23.5K
15MRKMerck & Co. Inc.history →COM1.92%$6M60.4K
16UPSUnited Parcel Serviceshistory →COM1.91%$6M33.0K
17BRK/BBerkshire Hathaway Inc. Classhistory →COM1.85%$6M20.1K
18Linde PLCCOM1.81%$6M17.1K
19PGProcter & Gamble Cohistory →COM1.81%$6M40.7K
20ABTAbbott Laboratorieshistory →COM1.80%$6M59.6K
21PEPPepsi Co Inchistory →COM1.58%$5M29.0K
22Laboratory CP Amer HldgsCOM1.54%$5M22.4K
23Exxon Mobil Corp.COM1.48%$5M45.2K
24ACNAccenture PLChistory →COM1.46%$5M17.1K
25LMTLockheed Martin Corphistory →COM1.44%$5M10.2K
26iShares Core MSCI Emerging MktCOM1.44%$5M98.9K
27J.P. Morgan Chase & Co.COM1.44%$5M37.0K
28KOCoca-Cola Companyhistory →COM1.43%$5M77.3K
29TMOThermo Fisher Scientifichistory →COM1.41%$5M8.2K
30NEENextera Energy Inc.history →COM1.40%$5M60.8K
31OMCOmnicom Group Inc Comhistory →COM1.39%$5M49.5K
32CLColgate-Palmolive Companyhistory →COM1.38%$5M61.4K
33CVSCVS Health Corphistory →COM1.37%$5M61.8K
34CMCSAComcast Corp Cl A Vtghistory →COM1.36%$5M120.1K
35SNASnap-On Inc.history →COM1.30%$4M17.7K
36iShares Core MSCI EAFE ETFCOM1.30%$4M65.0K
37MDTMedtronic Plchistory →COM1.26%$4M52.5K
38D.R. Horton, Inc.COM1.21%$4M41.6K
39BNYBank of New York Mellon Corp.history →COM1.20%$4M88.3K
40INTCIntel Corphistory →COM1.16%$4M118.7K
41AMEX Energy Sector SPDRCOM1.13%$4M45.6K
42DISWalt Disney Co.history →COM1.12%$4M37.6K
43IWMiShares Russell 2000 Index Funhistory →COM1.12%$4M21.0K
44Duke Energy Corp.COM1.11%$4M38.5K
45Verizon CommunicationsCOM1.08%$4M93.3K
46AMZNAmazon.com, Inc.history →COM1.04%$3M33.6K
47QRVOQorvo Inc.COM0.92%$3M30.3K
48SPYSPDR S&P 500 ETFCOM0.88%$3M7.2K
49COPConocoPhillipsCOM0.83%$3M28.1K
50HDHome Depot, Inc.COM0.83%$3M9.4K
51MGAMagna International, Inc. Cl ACOM0.80%$3M49.7K
52CTASCintas CorporationCOM0.76%$3M5.5K
53VTIVanguard Total Stock Market ETCOM0.76%$3M12.5K
54IJHiShares Core S&P Midcap ETFCOM0.74%$2M9.9K
55USBUS BancorpCOM0.67%$2M62.5K
56VBVanguard Small-Cap ETFCOM0.65%$2M11.4K
57IBBiShares Nasdaq Biotechnology ICOM0.63%$2M16.3K
58BBHVanEck Vectors Biotech ETFCOM0.62%$2M12.7K
59iShares iBoxx High Yield CorpCOM0.61%$2M26.9K
60IAUiShares Comex Gold TrustCOM0.60%$2M53.8K
61VaneckVectors HY Muni ETFCOM0.53%$2M34.2K
62LLYEli Lilly & CoCOM0.45%$2M4.4K
63JNJJohnson & JohnsonCOM0.45%$2M9.8K
64CVXChevron CorpCOM0.43%$1M8.9K
65SYKStryker CorpCOM0.37%$1M4.4K
66VEUVanguard FTSE All-World Ex-USCOM0.35%$1M22.1K
67VEAVanguard Developed Markets ETFCOM0.31%$1M23.1K
68PFEPfizer Inc.COM0.29%$972,00023.8K
69ORCLOracle Corp.COM0.28%$948,00010.2K
70PAYXPaychex, Inc.COM0.26%$879,0007.7K
71CATCaterpillarCOM0.24%$810,0003.5K
72PFFiShares US Preferred StockCOM0.23%$754,00024.2K
73SYYSysco CorpCOM0.19%$632,0008.2K
74ITWIllinois Tool WorksCOM0.19%$628,0002.6K
75VWOVanguard Emerging Markets ETFCOM0.18%$614,00015.2K
76IBMIntl Business Machines CorpCOM0.18%$589,0004.5K
77YUMYum! Brands Inc.COM0.17%$570,0004.3K
78CHRWCH Robinson Worldwide IncCOM0.16%$524,0005.3K
79DHRDanaher Corp.COM0.16%$523,0002.1K
80Waste Management, Inc.COM0.15%$504,0003.1K
81PPGPPG IndustriesCOM0.15%$494,0003.7K
82BMYBristol-Myers Squibb CompanyCOM0.14%$485,0007.0K
83MMM3M CoCOM0.14%$468,0004.5K
84AORiShares S&P Growth AllocationCOM0.13%$448,0009.0K
85AGGiShares Core Total US Bond MarCOM0.13%$445,0004.5K
86EMREmerson Electric CoCOM0.13%$444,0005.1K
87MRSHMarsh & McLennan Companies, InCOM0.13%$436,0002.6K
88KMBKimberly-Clark CorpCOM0.12%$414,0003.1K
89ADPAutomatic Data Processing, IncCOM0.12%$404,0001.8K
90GPCGenuine PartsCOM0.12%$399,0002.4K
91QCOMQualcomm, Inc.COM0.11%$385,0003.0K
92UNHUnitedHealth Group IncCOM0.10%$349,000740
93Invesco QQQ Trust Series 1COM0.10%$333,0001.0K
94SOSouthern CoCOM0.10%$327,0004.7K
95NUENucor CorporationCOM0.09%$299,0001.9K
96AMGNAmgen Inc.COM0.09%$286,0001.2K
97BABoeing CoCOM0.08%$276,0001.3K
98Yum China Holding Inc.COM0.08%$273,0004.3K
99BXPBoston Properties, Inc.COM0.08%$262,0004.8K
100HP Inc.COM0.08%$260,0008.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$421M114Apr 10, 202613F-HRchanges · EDGAR ↗
Q4 2025$434M120Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$453M119Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$418M116Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$403M116May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$407M115Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$426M115Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$395M114Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$405M116May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$377M114Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$338M114Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$353M113Aug 1, 202313F-HRchanges · EDGAR ↗
Q1 2023$335M110May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$323M106Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$294M102Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$309M106Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$344M111May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$366M112Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$336M108Nov 10, 2021RESTATEMENTchanges · EDGAR ↗
Q2 2021$330M108Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$311M105May 11, 202113F-HRchanges · EDGAR ↗
Q4 2020$287M104Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$256M101Nov 9, 202013F-HRchanges · EDGAR ↗
Q2 2020$241M97Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$199M92May 8, 202013F-HRchanges · EDGAR ↗
Q4 2019$267M101Feb 7, 202013F-HRchanges · EDGAR ↗
Q3 2019$253M99Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$247M99Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$240M104May 7, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.