SEC 13F Intelligence

Managers / Q3 2023 · view latest →

BOSTON RESEARCH & MANAGEMENT INC

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

Reported Value
$338M
Q3 2023
Positions
114
Filings on Record
30
2019–present window
Filed
Nov 13, 2023
original filing

Summary

Boston Research & Management Inc reported $338M in U.S.-listed holdings across 114 positions for Q3 2023.

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

Compared with Q2 2023, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+1.8%
vs prior filed quarter
Top-10 Concentration
+27.9%
share of reported value
Largest Position
+4.3%
Microsoft
New / Exited
2 / 1
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: 59.3%Other: 26.2%ETP: 14.3%REIT: 0.1%
  • Common Stock · 59.3% · $201M
  • Other · 26.2% · $89M
  • ETP · 14.3% · $49M
  • REIT · 0.1% · $288,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Fortrea Holdings IncNEW+22.4K22.4K+$639,000$639,000
ODFLOld Dominion Freight LineNEW+490490+$200,000$200,000
CLXClorox CompanySOLD OUT−1.4K0−$218,000$0
Invesco QQQ Trust Series 1TRIMMED−129856−$58,000$306,000
DISWalt Disney Co.ADDED+3.7K43.2K−$28,000$4M
Verizon CommunicationsADDED+8.4K106.6K−$198,000$3M
RSPInvesco S&P 500 Equal WeightADDED+1481.9K+$7,000$275,000
Exxon Mobil Corp.ADDED+3.2K49.0K+$847,000$6M

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

Holdings — Q3 2023

113 positions (from 114 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMicrosoft Corphistory →COM4.33%$15M46.4K
2IVViShares Core S&P 500 ETFhistory →COM4.30%$15M33.8K
3AAPLApple Inc.history →COM2.86%$10M56.6K
4Alphabet, Inc. - Class ACOM2.57%$9M66.3K
5Mastercard, Inc.COM2.54%$9M21.7K
6FASTFastenal Cohistory →COM2.39%$8M147.9K
7AbbVie Inc.COM2.34%$8M53.2K
8Cisco Systems, Inc.COM2.21%$7M139.0K
9WMTWal-Mart Storeshistory →COM2.19%$7M46.4K
10TSCOTractor Supply Cohistory →COM2.19%$7M36.5K
11BRK/BBerkshire Hathaway Inc. Classhistory →COM2.07%$7M20.0K
12IJRiShares Core S&P SmallCap ETFhistory →COM2.04%$7M73.1K
13GISGeneral Mills Inc Comhistory →COM1.87%$6M98.8K
14MCDMcDonald's Corphistory →COM1.85%$6M23.7K
15Linde PLCCOM1.83%$6M16.7K
16MRKMerck & Co. Inc.history →COM1.83%$6M60.1K
17PGProcter & Gamble Cohistory →COM1.79%$6M41.6K
18ABTAbbott Laboratorieshistory →COM1.73%$6M60.4K
19Xylem Inc.COM1.72%$6M64.1K
20Exxon Mobil Corp.COM1.70%$6M49.0K
21J.P. Morgan Chase & Co.COM1.60%$5M37.4K
22ACNAccenture PLChistory →COM1.58%$5M17.5K
23CMCSAComcast Corp Cl A Vtghistory →COM1.58%$5M120.9K
24UPSUnited Parcel Serviceshistory →COM1.55%$5M33.7K
25PEPPepsi Co Inchistory →COM1.46%$5M29.2K
26iShares Core MSCI Emerging MktCOM1.39%$5M98.6K
27Laboratory CP Amer HldgsCOM1.37%$5M23.0K
28SNASnap-On Inc.history →COM1.35%$5M18.0K
29CVSCVS Health Corphistory →COM1.34%$5M65.0K
30D.R. Horton, Inc.COM1.32%$4M41.6K
31CLColgate-Palmolive Companyhistory →COM1.30%$4M61.9K
32AMZNAmazon.com, Inc.history →COM1.29%$4M34.4K
33KOCoca-Cola Companyhistory →COM1.28%$4M77.4K
34LMTLockheed Martin Corphistory →COM1.26%$4M10.5K
35TMOThermo Fisher Scientifichistory →COM1.26%$4M8.4K
36INTCIntel Corphistory →COM1.25%$4M119.1K
37iShares Core MSCI EAFE ETFCOM1.24%$4M65.3K
38MDTMedtronic Plchistory →COM1.24%$4M53.5K
39AMEX Energy Sector SPDRCOM1.24%$4M46.2K
40BNYBank of New York Mellon Corp.history →COM1.15%$4M91.1K
41SYYSysco Corphistory →COM1.15%$4M58.8K
42NEENextera Energy Inc.history →COM1.10%$4M65.2K
43IWMiShares Russell 2000 Index Funhistory →COM1.10%$4M21.1K
44OMCOmnicom Group Inc Comhistory →COM1.10%$4M49.9K
45Duke Energy Corp.COM1.07%$4M41.1K
46DISWalt Disney Co.history →COM1.03%$4M43.2K
47COPConocoPhillipshistory →COM1.03%$3M29.2K
48Verizon CommunicationsCOM1.02%$3M106.6K
49SPYSPDR S&P 500 ETFCOM0.90%$3M7.1K
50MGAMagna International, Inc. Cl ACOM0.86%$3M54.0K
51QRVOQorvo Inc.COM0.85%$3M30.3K
52HDHome Depot, Inc.COM0.83%$3M9.3K
53USBUS BancorpCOM0.79%$3M80.7K
54CTASCintas CorporationCOM0.79%$3M5.5K
55VTIVanguard Total Stock Market ETCOM0.78%$3M12.4K
56IJHiShares Core S&P Midcap ETFCOM0.74%$3M10.0K
57LLYEli Lilly & CoCOM0.70%$2M4.4K
58VBVanguard Small-Cap ETFCOM0.62%$2M11.2K
59iShares iBoxx High Yield CorpCOM0.61%$2M28.2K
60IBBiShares Nasdaq Biotechnology ICOM0.59%$2M16.3K
61BBHVanEck Vectors Biotech ETFCOM0.59%$2M12.7K
62IAUiShares Comex Gold TrustCOM0.55%$2M52.8K
63VaneckVectors HY Muni ETFCOM0.46%$2M31.8K
64JNJJohnson & JohnsonCOM0.45%$2M9.7K
65CVXChevron CorpCOM0.44%$1M8.8K
66SYKStryker CorpCOM0.35%$1M4.4K
67VEUVanguard FTSE All-World Ex-USCOM0.34%$1M22.1K
68ORCLOracle Corp.COM0.32%$1M10.3K
69CATCaterpillarCOM0.29%$966,0003.5K
70VEAVanguard Developed Markets ETFCOM0.28%$961,00022.0K
71PAYXPaychex, Inc.COM0.26%$878,0007.6K
72PFEPfizer Inc.COM0.24%$797,00024.0K
73VWOVanguard Emerging Markets ETFCOM0.20%$683,00017.4K
74PFFiShares US Preferred StockCOM0.20%$672,00022.3K
75IBMIntl Business Machines CorpCOM0.19%$645,0004.6K
76Fortrea Holdings IncCOM0.19%$639,00022.4K
77ITWIllinois Tool WorksCOM0.18%$594,0002.6K
78YUMYum! Brands Inc.COM0.16%$539,0004.3K
79DHRDanaher Corp.COM0.15%$515,0002.1K
80MRSHMarsh & McLennan Companies, InCOM0.15%$498,0002.6K
81EMREmerson Electric CoCOM0.15%$492,0005.1K
82PPGPPG IndustriesCOM0.14%$480,0003.7K
83Waste Management, Inc.COM0.14%$471,0003.1K
84AORiShares S&P Growth AllocationCOM0.13%$435,0008.8K
85ADPAutomatic Data Processing, IncCOM0.12%$412,0001.7K
86MMM3M CoCOM0.12%$411,0004.4K
87BMYBristol-Myers Squibb CompanyCOM0.12%$406,0007.0K
88AGGiShares Core Total US Bond MarCOM0.11%$374,0004.0K
89UNHUnitedHealth Group IncCOM0.11%$373,000740
90KMBKimberly-Clark CorpCOM0.11%$372,0003.1K
91GPCGenuine PartsCOM0.10%$345,0002.4K
92QCOMQualcomm, Inc.COM0.10%$335,0003.0K
93AMGNAmgen Inc.COM0.10%$332,0001.2K
94Invesco QQQ Trust Series 1COM0.09%$306,000856
95SOSouthern CoCOM0.09%$304,0004.7K
96NUENucor CorporationCOM0.09%$302,0001.9K
97BXPBoston Properties, Inc.COM0.09%$288,0004.8K
98RSPInvesco S&P 500 Equal WeightCOM0.08%$275,0001.9K
99General Electric CompanyCOM0.08%$266,0002.4K
100BABoeing CoCOM0.07%$249,0001.3K

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 ↗.