SEC 13F Intelligence

Managers / Q4 2023 · view latest →

BOSTON RESEARCH & MANAGEMENT INC

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

Reported Value
$377M
Q4 2023
Positions
114
Filings on Record
30
2019–present window
Filed
Feb 12, 2024
original filing

Summary

Boston Research & Management Inc reported $377M in U.S.-listed holdings across 114 positions for Q4 2023.

Its largest position, MSFT, represents 4.5% of the portfolio.

Compared with Q3 2023, the fund opened 3 new positions and exited 3.

Portfolio Metrics

Turnover
+0.9%
vs prior filed quarter
Top-10 Concentration
+27.5%
share of reported value
Largest Position
+4.5%
Microsoft
New / Exited
3 / 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: 59.5%Other: 25.7%ETP: 14.6%REIT: 0.1%
  • Common Stock · 59.5% · $224M
  • Other · 25.7% · $97M
  • ETP · 14.6% · $55M
  • REIT · 0.1% · $340,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GDGeneral Dynamics CorporationNEW+840840+$218,000$218,000
IWBiShares Russell 1000 Index FunNEW+768768+$201,000$201,000
Cambridge Heart Inc.NEW+10.2K10.2K+$0$0
DIASPDR DJIA ETF TrustADDED+2.6K3.4K+$1M$1M
NVDANvidiaADDED+7501.3K+$404,000$638,000
Yum China Holding Inc.SOLD OUT−4.3K0−$240,000$0
ODFLOld Dominion Freight LineSOLD OUT−4900−$200,000$0
TUPTupperware CorporationSOLD OUT−39.3K0−$55,000$0

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

Holdings — Q4 2023

113 positions (from 114 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMicrosoft Corphistory →COM4.50%$17M45.0K
2IVViShares Core S&P 500 ETFhistory →COM4.25%$16M33.5K
3AAPLApple Inc.history →COM2.99%$11M58.5K
4Mastercard, Inc.COM2.49%$9M22.0K
5Alphabet, Inc. - Class ACOM2.42%$9M65.3K
6FASTFastenal Cohistory →COM2.40%$9M139.4K
7AbbVie Inc.COM2.21%$8M53.8K
8TSCOTractor Supply Cohistory →COM2.15%$8M37.6K
9IJRiShares Core S&P SmallCap ETFhistory →COM2.11%$8M73.4K
10Xylem Inc.COM1.99%$8M65.7K
11WMTWal-Mart Storeshistory →COM1.96%$7M46.9K
12Cisco Systems, Inc.COM1.93%$7M144.2K
13MCDMcDonald's Corphistory →COM1.91%$7M24.2K
14BRK/BBerkshire Hathaway Inc. Classhistory →COM1.90%$7M20.1K
15Linde PLCCOM1.82%$7M16.7K
16ABTAbbott Laboratorieshistory →COM1.80%$7M61.7K
17GISGeneral Mills Inc Comhistory →COM1.78%$7M103.1K
18MRKMerck & Co. Inc.history →COM1.78%$7M61.5K
19J.P. Morgan Chase & Co.COM1.72%$6M38.1K
20PGProcter & Gamble Cohistory →COM1.69%$6M43.4K
21D.R. Horton, Inc.COM1.66%$6M41.3K
22ACNAccenture PLChistory →COM1.66%$6M17.8K
23INTCIntel Corphistory →COM1.58%$6M118.4K
24UPSUnited Parcel Serviceshistory →COM1.48%$6M35.5K
25CMCSAComcast Corp Cl A Vtghistory →COM1.46%$5M125.2K
26Laboratory CP Amer HldgsCOM1.46%$5M24.1K
27CVSCVS Health Corphistory →COM1.41%$5M67.4K
28AMZNAmazon.com, Inc.history →COM1.40%$5M34.8K
29PEPPepsi Co Inchistory →COM1.40%$5M31.1K
30SNASnap-On Inc.history →COM1.39%$5M18.2K
31iShares Core MSCI Emerging MktCOM1.37%$5M101.9K
32CLColgate-Palmolive Companyhistory →COM1.35%$5M64.0K
33Exxon Mobil Corp.COM1.34%$5M50.4K
34BNYBank of New York Mellon Corp.history →COM1.30%$5M94.1K
35LMTLockheed Martin Corphistory →COM1.29%$5M10.8K
36TMOThermo Fisher Scientifichistory →COM1.25%$5M8.9K
37iShares Core MSCI EAFE ETFCOM1.25%$5M66.9K
38KOCoca-Cola Companyhistory →COM1.25%$5M79.7K
39OMCOmnicom Group Inc Comhistory →COM1.16%$4M50.5K
40SYYSysco Corphistory →COM1.14%$4M58.8K
41Duke Energy Corp.COM1.14%$4M44.1K
42IWMiShares Russell 2000 Index Funhistory →COM1.12%$4M21.1K
43NEENextera Energy Inc.history →COM1.10%$4M68.2K
44DISWalt Disney Co.history →COM1.09%$4M45.5K
45AMEX Energy Sector SPDRCOM1.05%$4M47.0K
46MDTMedtronic Plchistory →COM1.03%$4M47.1K
47QRVOQorvo Inc.history →COM1.01%$4M33.9K
48USBUS BancorpCOM0.99%$4M85.9K
49Verizon CommunicationsCOM0.98%$4M97.6K
50COPConocoPhillipsCOM0.92%$3M29.8K
51SPYSPDR S&P 500 ETFCOM0.90%$3M7.1K
52CTASCintas CorporationCOM0.88%$3M5.5K
53HDHome Depot, Inc.COM0.85%$3M9.3K
54MGAMagna International, Inc. Cl ACOM0.85%$3M54.2K
55VTIVanguard Total Stock Market ETCOM0.78%$3M12.4K
56IJHiShares Core S&P Midcap ETFCOM0.74%$3M10.1K
57iShares iBoxx High Yield CorpCOM0.71%$3M34.4K
58LLYEli Lilly & CoCOM0.69%$3M4.4K
59VBVanguard Small-Cap ETFCOM0.62%$2M10.9K
60BBHVanEck Vectors Biotech ETFCOM0.56%$2M12.7K
61IAUiShares Comex Gold TrustCOM0.55%$2M52.8K
62IBBiShares Nasdaq Biotechnology ICOM0.54%$2M15.1K
63JNJJohnson & JohnsonCOM0.40%$2M9.7K
64CVXChevron CorpCOM0.35%$1M8.8K
65SYKStryker CorpCOM0.35%$1M4.4K
66DIASPDR DJIA ETF TrustCOM0.34%$1M3.4K
67VEUVanguard FTSE All-World Ex-USCOM0.32%$1M21.4K
68VaneckVectors HY Muni ETFCOM0.31%$1M22.8K
69ORCLOracle Corp.COM0.29%$1M10.3K
70VEAVanguard Developed Markets ETFCOM0.28%$1M22.0K
71CATCaterpillarCOM0.28%$1M3.5K
72PAYXPaychex, Inc.COM0.24%$907,0007.6K
73Fortrea Holdings IncCOM0.20%$755,00021.7K
74IBMIntl Business Machines CorpCOM0.20%$752,0004.6K
75VWOVanguard Emerging Markets ETFCOM0.18%$686,00016.7K
76ITWIllinois Tool WorksCOM0.18%$675,0002.6K
77NVDANvidiaCOM0.17%$638,0001.3K
78YUMYum! Brands Inc.COM0.15%$564,0004.3K
79PPGPPG IndustriesCOM0.15%$553,0003.7K
80Waste Management, Inc.COM0.15%$553,0003.1K
81PFFiShares US Preferred StockCOM0.14%$545,00017.5K
82MRSHMarsh & McLennan Companies, InCOM0.13%$496,0002.6K
83EMREmerson Electric CoCOM0.13%$496,0005.1K
84PFEPfizer Inc.COM0.13%$482,00016.8K
85DHRDanaher Corp.COM0.13%$480,0002.1K
86MMM3M CoCOM0.13%$480,0004.4K
87AORiShares S&P Growth AllocationCOM0.12%$469,0008.8K
88QCOMQualcomm, Inc.COM0.12%$436,0003.0K
89ADPAutomatic Data Processing, IncCOM0.11%$399,0001.7K
90RSPInvesco S&P 500 Equal WeightCOM0.10%$390,0002.5K
91UNHUnitedHealth Group IncCOM0.10%$389,000740
92KMBKimberly-Clark CorpCOM0.10%$374,0003.1K
93AGGiShares Core Total US Bond MarCOM0.10%$368,0003.7K
94AMGNAmgen Inc.COM0.09%$356,0001.2K
95Invesco QQQ Trust Series 1COM0.09%$353,000863
96BMYBristol-Myers Squibb CompanyCOM0.09%$341,0006.7K
97BXPBoston Properties, Inc.COM0.09%$340,0004.8K
98BABoeing CoCOM0.09%$338,0001.3K
99NUENucor CorporationCOM0.09%$336,0001.9K
100GPCGenuine PartsCOM0.09%$331,0002.4K

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 ↗.