Boston Research & Management Inc.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed September 18, 2026), Boston Research & Management Inc. reported 115 stock positions worth $428.2 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 4.4% of the portfolio, followed by Microsoft (MSFT, 4.3%) and Apple (AAPL, 3.2%). Compared with Q2 2024, it opened 6 new positions, sold out of 5, added to 48 and reduced 24. The biggest buy was a new position in Adobe (ADBE) and the biggest sale an exit from Intel (INTC).

Most Recent 13F
Q2 2026
Location
MANCHESTER, MA
CIK
0001259261
Portfolio Value
$428.2M (Q3 2024)
SEC Filing
0001259261-26-000022 ↗ filed Sep 18, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $404.6M Q1 2024 Q2 2024: $395.5M Q2 2024 Q3 2024: $428.2M $428.2M Q3 2024 Q4 2024: $409.7M Q4 2024 Q1 2025: $405.1M Q1 2025 Q2 2025: $419.4M Q2 2025 Q3 2025: $453.4M Q3 2025 Q4 2025: $433.7M Q4 2025 Q1 2026: $421.0M Q1 2026 Q2 2026: $447.1M Q2 2026

Holdings 115 stocks · $428.2M
IVV iShares Core S&P 500 ETF 4.37% 32,415 $18.7M Reduce -0.2%
MSFT Microsoft Corp. 4.26% 42,351 $18.2M Reduce -0.7%
AAPL Apple Inc. 3.16% 58,101 $13.5M Add +0.2%
WMT Walmart Inc. 2.58% 136,751 $11.0M Reduce -0.5%
MA Mastercard Inc. Class A 2.51% 21,750 $10.7M Add +1.1%
TSCO Tractor Supply Company 2.49% 36,637 $10.7M Add +0.8%
ABBV Abbvie Inc. 2.42% 52,498 $10.4M Add +0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.16% 20,094 $9.2M Add +1.2%
XYL Xylem Inc. 2.09% 66,406 $9.0M Add +3.0%
GOOGL Alphabet Inc. Class A 2.06% 53,298 $8.8M Add +2.6%
IJR iShares Core S&P Small-Cap E 2.04% 74,785 $8.7M Add +1.1%
GIS General Mills Inc. 1.87% 108,212 $8.0M Add +2.5%
CSCO Cisco Systems Inc. 1.86% 149,758 $8.0M Add +2.2%
JPM JPMorgan Chase & Co. 1.83% 37,133 $7.8M Add +0.0%
DHI D.R. Horton Inc. 1.83% 40,998 $7.8M Reduce -0.3%
MCD McDonald's Corp. 1.81% 25,476 $7.8M Add +2.1%
FAST Fastenal Co. 1.81% 108,565 $7.8M Add +2.5%
LIN Linde PLC 1.81% 16,222 $7.7M Reduce -1.4%
PG The Procter & Gamble Co. 1.80% 44,407 $7.7M Add +1.3%
ABT Abbott Laboratories 1.68% 63,211 $7.2M Add +2.1%
MRK Merck & Co. Inc. 1.67% 63,040 $7.2M Add +3.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.57% 93,776 $6.7M Add +0.7%
CL Colgate-Palmolive Co. 1.55% 64,051 $6.6M Add +1.8%
ACN Accenture PLC Class A 1.55% 18,800 $6.6M Add +2.2%
AMZN Amazon.com Inc. 1.53% 35,228 $6.6M Add +2.3%
LMT Lockheed Martin Corp. 1.53% 11,199 $6.5M Add +2.0%
NEE Nextera Energy Inc. 1.46% 73,899 $6.2M Add +1.6%
XOM Exxon Mobil Corp. 1.44% 52,414 $6.1M Add +2.1%
IEMG iShares Core MSCI Emerging 1.39% 103,914 $6.0M Add +2.0%
PEP Pepsico Inc. 1.37% 34,539 $5.9M Add +6.4%
TMO Thermo Fisher Scientific Inc. 1.35% 9,361 $5.8M Add +3.3%
KO The Coca-Cola Co. 1.33% 79,310 $5.7M Add +0.8%
LH Labcorp Holdings Inc. 1.32% 25,369 $5.7M Add +2.8%
CMCSA Comcast Corp. Class A 1.30% 133,578 $5.6M Add +3.2%
SNA Snap-on Inc. 1.28% 18,859 $5.5M Add +1.7%
UPS United Parcel Service Class B 1.27% 39,836 $5.4M Add +8.1%
DUK Duke Energy Corp. 1.25% 46,400 $5.3M Add +1.3%
IEFA iShares Core MSCI Eafe ETF 1.23% 67,485 $5.3M Add +1.7%
OMC Omnicom Group 1.21% 50,110 $5.2M Add +1.9%
SYY Sysco Corp. 1.16% 63,861 $5.0M Add +4.9%
IWM iShares Russell 2000 ETF 1.09% 21,041 $4.6M No change
MDT Medtronic PLC 1.08% 51,315 $4.6M Add +5.8%
VZ Verizon Communications Inc. 1.07% 102,346 $4.6M Add +2.1%
CTAS Cintas Corp. 1.05% 21,800 $4.5M Reduce -1.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.04% 46,171 $4.4M Reduce -2.8%
USB US Bancorp 0.99% 93,011 $4.3M Add +2.7%
XLE SS Energy Select Sector 0.98% 47,941 $4.2M Add +3.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.95% 7,114 $4.1M Reduce -0.2%
QRVO Qorvo Inc. 0.93% 38,599 $4.0M Add +4.3%
ADBE Adobe Inc. 0.92% 7,609 $3.9M New
CVS CVS Health Corp. 0.91% 62,150 $3.9M Reduce -8.4%
LLY Eli Lilly & Co. 0.87% 4,188 $3.7M Reduce -5.5%
HD Home Depot Inc. 0.83% 8,805 $3.6M No change
VTI VG Morningstar TS MKT ETF-US 0.82% 12,380 $3.5M No change
COP Conocophillips 0.80% 32,719 $3.4M Add +6.2%
IJH iShares Core S&P Midcap ETF 0.72% 49,738 $3.1M Add +0.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.63% 33,385 $2.7M Reduce -0.0%
VB Vanguard Most SM-Cap ETF-Usd 0.59% 10,619 $2.5M Reduce -0.3%
IAU iShares Gold Trust 0.58% 50,383 $2.5M Reduce -2.2%
BBH Vaneck Biotech ETF 0.50% 11,971 $2.1M Reduce -3.1%
IBB iShares Biotechnology ETF 0.43% 12,657 $1.8M Reduce -11.1%
ORCL Oracle Corp. 0.41% 10,319 $1.8M No change
GOOG Alphabet Inc. Class C 0.40% 10,155 $1.7M Add +0.1%
SYK Stryker Corp. 0.37% 4,354 $1.6M No change
JNJ Johnson & Johnson 0.37% 9,661 $1.6M Reduce -0.5%
VEU Vanguard Ftse All-World Ex-U 0.34% 23,073 $1.5M Add +5.5%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.33% 3,367 $1.4M Add +0.2%
CAT Caterpillar Inc. 0.32% 3,542 $1.4M No change
NVDA Nvidia Corp. 0.31% 11,100 $1.3M Reduce -5.1%
CVX Chevron Corp. 0.30% 8,608 $1.3M No change
VEA Vanguard Ftse Developed ETF 0.27% 21,999 $1.2M No change
HYD Vaneck High Yield Muni ETF 0.25% 19,859 $1.1M Reduce -4.0%
PAYX Paychex Inc. 0.24% 7,590 $1.0M Reduce -0.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.23% 4,433 $980K No change
VWO Vanguard Ftse Emerging Marke 0.18% 16,147 $773K No change
ITW Illinois Tool Works 0.16% 2,580 $676K No change
WM Waste Management Inc. 0.15% 3,090 $641K No change
YUM Yum! Brands Inc. 0.14% 4,320 $604K No change
MMM 3M Co. 0.14% 4,394 $601K No change
MRSH Marsh & McLennan Cos 0.14% 2,620 $584K No change
EMR Emerson Electric Co. 0.13% 5,100 $558K No change
DHR Danaher Corp. 0.12% 1,918 $533K Reduce -7.7%
PFF iShares Preferred & Income S 0.12% 15,897 $528K Reduce -0.4%
QCOM Qualcomm Inc. 0.12% 3,020 $514K No change
AOR iShares Core 60/40 Balanced 0.12% 8,637 $512K Add +1.1%
PPG PPG Industries Inc. 0.11% 3,700 $490K No change
RSP Invesco S&P 500 Equal Weight 0.11% 2,675 $479K Add +3.6%
ADP Automatic Data Processing 0.11% 1,715 $475K No change
GE General Electric filed as GE AEROSPACE 0.11% 2,413 $455K No change
PFE Pfizer Inc. 0.10% 15,027 $435K Reduce -10.4%
UNH Unitedhealth Group Inc. 0.10% 740 $433K No change
AGG iShares Core U.S. Aggregate 0.10% 4,263 $432K Reduce -0.4%
KMB Kimberly-Clark Corp. 0.10% 3,030 $431K Reduce -1.8%
SO The Southern Co. 0.10% 4,710 $425K No change
QQQ Invesco QQQ Trust Series 1 0.09% 817 $399K Add +4.3%
AMGN Amgen Inc. 0.09% 1,237 $399K No change
BXP BXP Inc. 0.09% 4,850 $390K No change
BMY Bristol-Myers Squibb Co. 0.08% 6,660 $345K No change
MAS Masco Corp. 0.08% 4,000 $336K No change
GPC Genuine Parts Co. 0.08% 2,390 $334K No change
HPQ HP Inc. 0.07% 8,680 $311K No change
IXN iShares Global Tech ETF 0.07% 3,600 $297K No change
NUE Nucor Corp. 0.07% 1,936 $291K No change
IWF iShares Russell 1000 Growth 0.07% 772 $290K No change
A Agilent Technologies Inc. 0.06% 1,841 $273K No change
LOW Lowe's Cos Inc. 0.06% 980 $265K No change
COST Costco Wholesale Corp. 0.06% 290 $257K No change
IWB iShares Russell 1000 ETF 0.06% 768 $241K No change
GD General Dynamics Corp. 0.05% 770 $233K No change
CLX Clorox Company 0.05% 1,375 $224K New
TXN Texas Instruments Inc. 0.05% 1,060 $219K No change
AXP American Express Co. 0.05% 800 $217K New
RTX RTX Corp. 0.05% 1,770 $214K New
AFL Aflac Inc. 0.05% 1,880 $210K New
WEC WEC Energy Group Inc. 0.05% 2,082 $200K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.6M (not counted above)
SecurityClassShares / PrincipalValueChange
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 103,120$4.6MNew

Total filed on the 13F, all lines: $432.8M.

Portfolio Sells Q2 2024 → Q3 2024
INTC Intel Corp. Sold out 0.00% −0.98
MGA Magna International Inc. Sold out 0.00% −0.70
MSFT Microsoft Corp. Reduce -0.7% 4.26% −0.56
DIS The Walt Disney Co. Reduce -2.8% 1.04% −0.15
LLY Eli Lilly & Co. Reduce -5.5% 0.87% −0.15
IVV iShares Core S&P 500 ETF Reduce -0.2% 4.37% −0.13
FTRE Fortrea Holdings Inc. Sold out 0.00% −0.12
CVS CVS Health Corp. Reduce -8.4% 0.91% −0.10
IBB iShares Biotechnology ETF Reduce -11.1% 0.43% −0.06
BA The Boeing Co. Sold out 0.00% −0.06
NVDA Nvidia Corp. Reduce -5.1% 0.31% −0.05
BBH Vaneck Biotech ETF Reduce -3.1% 0.50% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.2% 0.95% −0.03
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -0.0% 0.63% −0.03
HYD Vaneck High Yield Muni ETF Reduce -4.0% 0.25% −0.02
LIN Linde PLC Reduce -1.4% 1.81% −0.02
PFE Pfizer Inc. Reduce -10.4% 0.10% −0.02
KMB Kimberly-Clark Corp. Reduce -1.8% 0.10% −0.01
DHR Danaher Corp. Reduce -7.7% 0.12% −0.01
AGG iShares Core U.S. Aggregate Reduce -0.4% 0.10% −0.00
PFF iShares Preferred & Income S Reduce -0.4% 0.12% −0.00
CAMH Cambridge Heart Inc. Sold out 0.00% 0.00
VB Vanguard Most SM-Cap ETF-Usd Reduce -0.3% 0.59% +0.00
JNJ Johnson & Johnson Reduce -0.5% 0.37% +0.01
PAYX Paychex Inc. Reduce -0.3% 0.24% +0.01
IAU iShares Gold Trust Reduce -2.2% 0.58% +0.01
CTAS Cintas Corp. Reduce -1.4% 1.05% +0.07
WMT Walmart Inc. Reduce -0.5% 2.58% +0.23
DHI D.R. Horton Inc. Reduce -0.3% 1.83% +0.36

Portfolio Buys Q2 2024 → Q3 2024
ADBE Adobe Inc. New 0.92% +0.92
LMT Lockheed Martin Corp. Add +2.0% 1.53% +0.23
MCD McDonald's Corp. Add +2.1% 1.81% +0.20
GIS General Mills Inc. Add +2.5% 1.87% +0.18
BNY Bank of New York Mellon Corp. Add +0.7% 1.57% +0.16
NEE Nextera Energy Inc. Add +1.6% 1.46% +0.16
ABBV Abbvie Inc. Add +0.2% 2.42% +0.15
ACN Accenture PLC Class A Add +2.2% 1.55% +0.14
FAST Fastenal Co. Add +2.5% 1.81% +0.13
BRK.B Berkshire Hathaway Inc. Class B Add +1.2% 2.16% +0.12
MDT Medtronic PLC Add +5.8% 1.08% +0.11
MA Mastercard Inc. Class A Add +1.1% 2.51% +0.11
CSCO Cisco Systems Inc. Add +2.2% 1.86% +0.10
OMC Omnicom Group Add +1.9% 1.21% +0.09
DUK Duke Energy Corp. Add +1.3% 1.25% +0.09
TMO Thermo Fisher Scientific Inc. Add +3.3% 1.35% +0.09
USB US Bancorp Add +2.7% 0.99% +0.08
AAPL Apple Inc. Add +0.2% 3.16% +0.07
KO The Coca-Cola Co. Add +0.8% 1.33% +0.07
SYY Sysco Corp. Add +4.9% 1.16% +0.07
ABT Abbott Laboratories Add +2.1% 1.68% +0.06
LH Labcorp Holdings Inc. Add +2.8% 1.32% +0.05
CLX Clorox Company New 0.05% +0.05
AXP American Express Co. New 0.05% +0.05
SNA Snap-on Inc. Add +1.7% 1.28% +0.05
RTX RTX Corp. New 0.05% +0.05
AFL Aflac Inc. New 0.05% +0.05
IJR iShares Core S&P Small-Cap E Add +1.1% 2.04% +0.05
WEC WEC Energy Group Inc. New 0.05% +0.05
VZ Verizon Communications Inc. Add +2.1% 1.07% +0.03
CMCSA Comcast Corp. Class A Add +3.2% 1.30% +0.02
PEP Pepsico Inc. Add +6.4% 1.37% +0.02
VEU Vanguard Ftse All-World Ex-U Add +5.5% 0.34% +0.02
IEMG iShares Core MSCI Emerging Add +2.0% 1.39% +0.01
IEFA iShares Core MSCI Eafe ETF Add +1.7% 1.23% +0.01
CL Colgate-Palmolive Co. Add +1.8% 1.55% +0.01
TSCO Tractor Supply Company Add +0.8% 2.49% +0.01
RSP Invesco S&P 500 Equal Weight Add +3.6% 0.11% +0.00
DIA SS SPDR Dow Jones Indus Avg Add +0.2% 0.33% +0.00
QQQ Invesco QQQ Trust Series 1 Add +4.3% 0.09% −0.00
AOR iShares Core 60/40 Balanced Add +1.1% 0.12% −0.00
UPS United Parcel Service Class B Add +8.1% 1.27% −0.01
IJH iShares Core S&P Midcap ETF Add +0.3% 0.72% −0.01
PG The Procter & Gamble Co. Add +1.3% 1.80% −0.03
XOM Exxon Mobil Corp. Add +2.1% 1.44% −0.06
JPM JPMorgan Chase & Co. Add +0.0% 1.83% −0.07
GOOG Alphabet Inc. Class C Add +0.1% 0.40% −0.07
COP Conocophillips Add +6.2% 0.80% −0.09
XLE SS Energy Select Sector Add +3.3% 0.98% −0.09
XYL Xylem Inc. Add +3.0% 2.09% −0.12

Notes & Other Activity Q2 2024 → Q3 2024
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A New 103,120 $4.6M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 120$447.1MIVV, GOOGL, CSCO, AAPL, MSFT
Q1 2026Amended 114$421.0MIVV, WMT, MSFT, GOOGL, AAPL
Q4 2025Amended 120$433.7MIVV, MSFT, AAPL, GOOGL, WMT
Q3 2025Amended 119$453.4MMSFT, IVV, AAPL, WMT, GOOGL
Q2 2025Amended 116$419.4MMSFT, IVV, WMT, AAPL, MA
Q1 2025Amended 116$405.1MIVV, MSFT, AAPL, MA, WMT
Q4 2024Amended 115$409.7MIVV, MSFT, AAPL, WMT, MA
Q3 2024Amended 115$428.2MIVV, MSFT, AAPL, WMT, MA
Q2 2024 114$395.5MMSFT, IVV, AAPL, TSCO, MA
Q1 2024 116$404.6MMSFT, IVV, MA, AAPL, TSCO