Boston Research & Management Inc.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed September 11, 2026), Boston Research & Management Inc. reported 115 stock positions worth $409.7 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 4.6% of the portfolio, followed by Microsoft (MSFT, 4.3%) and Apple (AAPL, 3.5%). Compared with Q3 2024, it opened 3 new positions, sold out of 3, added to 24 and reduced 41. The biggest buy was Walt Disney (DIS, shares +2%) and the biggest sale Qorvo (QRVO, shares −67%).

Most Recent 13F
Q2 2026
Location
MANCHESTER, MA
CIK
0001259261
Portfolio Value
$409.7M (Q4 2024)
SEC Filing
0001259261-26-000020 ↗ filed Sep 11, 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 Q3 2024 Q4 2024: $409.7M $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 · $409.7M
IVV iShares Core S&P 500 ETF 4.63% 32,248 $19.0M Reduce -0.5%
MSFT Microsoft Corp. 4.33% 42,135 $17.8M Reduce -0.5%
AAPL Apple Inc. 3.52% 57,665 $14.4M Reduce -0.8%
WMT Walmart Inc. 2.95% 133,902 $12.1M Reduce -2.1%
MA Mastercard Inc. Class A 2.77% 21,590 $11.4M Reduce -0.7%
GOOGL Alphabet Inc. Class A 2.44% 52,830 $10.0M Reduce -0.9%
TSCO Tractor Supply Company 2.32% 179,100 $9.5M Reduce -2.2%
ABBV Abbvie Inc. 2.27% 52,396 $9.3M Reduce -0.2%
BRK.B Berkshire Hathaway Inc. Class B 2.20% 19,867 $9.0M Reduce -1.1%
JPM JPMorgan Chase & Co. 2.16% 36,911 $8.8M Reduce -0.6%
CSCO Cisco Systems Inc. 2.16% 149,174 $8.8M Reduce -0.4%
IJR iShares Core S&P Small-Cap E 2.08% 73,873 $8.5M Reduce -1.2%
FAST Fastenal Co. 1.90% 108,370 $7.8M Reduce -0.2%
AMZN Amazon.com Inc. 1.88% 35,140 $7.7M Reduce -0.3%
XYL Xylem Inc. 1.86% 65,862 $7.6M Reduce -0.8%
PG The Procter & Gamble Co. 1.84% 44,859 $7.5M Add +1.0%
MCD McDonald's Corp. 1.80% 25,393 $7.4M Reduce -0.3%
ABT Abbott Laboratories 1.74% 63,187 $7.1M Reduce -0.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.73% 92,110 $7.1M Reduce -1.8%
GIS General Mills Inc. 1.68% 108,227 $6.9M Add +0.0%
LIN Linde PLC 1.65% 16,195 $6.8M Reduce -0.2%
ACN Accenture PLC Class A 1.61% 18,749 $6.6M Reduce -0.3%
MRK Merck & Co. Inc. 1.57% 64,786 $6.4M Add +2.8%
SNA Snap-on Inc. 1.56% 18,791 $6.4M Reduce -0.4%
CL Colgate-Palmolive Co. 1.43% 64,591 $5.9M Add +0.8%
LH Labcorp Holdings Inc. 1.43% 25,497 $5.8M Add +0.5%
DHI D.R. Horton Inc. 1.39% 40,673 $5.7M Reduce -0.8%
XOM Exxon Mobil Corp. 1.38% 52,704 $5.7M Add +0.6%
IEMG iShares Core MSCI Emerging 1.34% 105,233 $5.5M Add +1.3%
LMT Lockheed Martin Corp. 1.34% 11,271 $5.5M Add +0.6%
PEP Pepsico Inc. 1.31% 35,249 $5.4M Add +2.1%
NEE Nextera Energy Inc. 1.31% 74,722 $5.4M Add +1.1%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.28% 47,108 $5.2M Add +2.0%
UPS United Parcel Service Class B 1.26% 41,019 $5.2M Add +3.0%
SYY Sysco Corp. 1.25% 66,810 $5.1M Add +4.6%
CMCSA Comcast Corp. Class A 1.22% 133,423 $5.0M Reduce -0.1%
DUK Duke Energy Corp. 1.22% 46,242 $5.0M Reduce -0.3%
KO The Coca-Cola Co. 1.20% 79,000 $4.9M Reduce -0.4%
TMO Thermo Fisher Scientific Inc. 1.19% 9,368 $4.9M Add +0.1%
IEFA iShares Core MSCI Eafe ETF 1.19% 69,100 $4.9M Add +2.4%
IWM iShares Russell 2000 ETF 1.13% 21,041 $4.6M No change
USB US Bancorp 1.10% 94,541 $4.5M Add +1.6%
OMC Omnicom Group 1.08% 51,365 $4.4M Add +2.5%
XLE SS Energy Select Sector 1.06% 50,886 $4.4M Add +6.1%
VZ Verizon Communications Inc. 1.04% 106,500 $4.3M Add +4.1%
SPY SS SPDR S&P 500 ETF Trust-US 1.02% 7,116 $4.2M Add +0.0%
MDT Medtronic PLC 1.00% 51,219 $4.1M Reduce -0.2%
CTAS Cintas Corp. 0.95% 21,300 $3.9M Reduce -2.3%
VTI VG Morningstar TS MKT ETF-US 0.88% 12,380 $3.6M No change
ADBE Adobe Inc. 0.88% 8,066 $3.6M Add +6.0%
HD Home Depot Inc. 0.84% 8,805 $3.4M No change
COP Conocophillips 0.79% 32,784 $3.3M Add +0.2%
LLY Eli Lilly & Co. 0.79% 4,188 $3.2M No change
IJH iShares Core S&P Midcap ETF 0.75% 49,184 $3.1M Reduce -1.1%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.64% 33,135 $2.6M Reduce -0.8%
IAU iShares Gold Trust 0.61% 50,283 $2.5M Reduce -0.2%
VB Vanguard Most SM-Cap ETF-Usd 0.60% 10,269 $2.5M Reduce -3.3%
GOOG Alphabet Inc. Class C 0.47% 10,105 $1.9M Reduce -0.5%
BBH Vaneck Biotech ETF 0.46% 11,971 $1.9M No change
ORCL Oracle Corp. 0.42% 10,259 $1.7M Reduce -0.6%
IBB iShares Biotechnology ETF 0.41% 12,657 $1.7M No change
SYK Stryker Corp. 0.38% 4,354 $1.6M No change
CVS CVS Health Corp. 0.37% 33,908 $1.5M Reduce -45.4%
NVDA Nvidia Corp. 0.36% 11,020 $1.5M Reduce -0.7%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.35% 3,367 $1.4M No change
JNJ Johnson & Johnson 0.34% 9,661 $1.4M No change
VEU Vanguard Ftse All-World Ex-U 0.32% 22,503 $1.3M Reduce -2.5%
CAT Caterpillar Inc. 0.31% 3,542 $1.3M No change
CVX Chevron Corp. 0.30% 8,608 $1.2M No change
PAYX Paychex Inc. 0.26% 7,590 $1.1M No change
VEA Vanguard Ftse Developed ETF 0.26% 21,999 $1.1M No change
HYD Vaneck High Yield Muni ETF 0.25% 19,859 $1.0M No change
QRVO Qorvo Inc. 0.21% 12,555 $878K Reduce -67.5%
VWO Vanguard Ftse Emerging Marke 0.17% 16,147 $711K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.17% 3,213 $706K Reduce -27.5%
ITW Illinois Tool Works 0.16% 2,580 $654K No change
EMR Emerson Electric Co. 0.15% 5,100 $632K No change
WM Waste Management Inc. 0.15% 3,090 $624K No change
YUM Yum! Brands Inc. 0.14% 4,320 $580K No change
MMM 3M Co. 0.14% 4,394 $567K No change
MRSH Marsh & McLennan Cos 0.14% 2,620 $557K No change
ADP Automatic Data Processing 0.12% 1,715 $502K No change
PFF iShares Preferred & Income S 0.12% 15,682 $493K Reduce -1.4%
AOR iShares Core 60/40 Balanced 0.12% 8,449 $484K Reduce -2.2%
RSP Invesco S&P 500 Equal Weight 0.11% 2,682 $470K Add +0.3%
QCOM Qualcomm Inc. 0.11% 3,020 $464K No change
PPG PPG Industries Inc. 0.11% 3,700 $442K No change
DHR Danaher Corp. 0.11% 1,918 $440K No change
AGG iShares Core U.S. Aggregate 0.10% 4,273 $414K Add +0.2%
QQQ Invesco QQQ Trust Series 1 0.10% 808 $413K Reduce -1.1%
GE General Electric filed as GE AEROSPACE 0.10% 2,413 $402K No change
PFE Pfizer Inc. 0.10% 15,027 $399K No change
KMB Kimberly-Clark Corp. 0.10% 3,030 $397K No change
SO The Southern Co. 0.09% 4,710 $388K No change
BMY Bristol-Myers Squibb Co. 0.09% 6,660 $377K No change
UNH Unitedhealth Group Inc. 0.09% 740 $374K No change
BXP BXP Inc. 0.09% 4,850 $361K No change
AMGN Amgen Inc. 0.08% 1,237 $322K No change
IWF iShares Russell 1000 Growth 0.08% 772 $310K No change
IXN iShares Global Tech ETF 0.07% 3,600 $305K No change
MAS Masco Corp. 0.07% 4,000 $290K No change
HPQ HP Inc. 0.07% 8,680 $283K No change
GPC Genuine Parts Co. 0.07% 2,390 $279K No change
COST Costco Wholesale Corp. 0.06% 290 $266K No change
IWB iShares Russell 1000 ETF 0.06% 768 $247K No change
A Agilent Technologies Inc. 0.06% 1,841 $247K No change
LOW Lowe's Cos Inc. 0.06% 980 $242K No change
AXP American Express Co. 0.06% 800 $237K No change
BA The Boeing Co. 0.06% 1,300 $230K New
NUE Nucor Corp. 0.06% 1,936 $226K No change
CLX Clorox Company 0.05% 1,375 $223K No change
YUMC Yum China Holdings Inc. 0.05% 4,320 $208K New
RTX RTX Corp. 0.05% 1,770 $205K No change
GD General Dynamics Corp. 0.05% 770 $203K No change
ESBA Empire State Realty Op LP-Es 0.03% 10,754 $109K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $4.2M (not counted above)
SecurityClassShares / PrincipalValueChange
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 103,320$4.2MAdd +0.2%

Total filed on the 13F, all lines: $413.9M.

Portfolio Sells Q3 2024 → Q4 2024
QRVO Qorvo Inc. Reduce -67.5% 0.21% −0.72
CVS CVS Health Corp. Reduce -45.4% 0.37% −0.54
DHI D.R. Horton Inc. Reduce -0.8% 1.39% −0.44
XYL Xylem Inc. Reduce -0.8% 1.86% −0.23
TSCO Tractor Supply Company Reduce -2.2% 2.32% −0.17
LIN Linde PLC Reduce -0.2% 1.65% −0.15
ABBV Abbvie Inc. Reduce -0.2% 2.27% −0.15
KO The Coca-Cola Co. Reduce -0.4% 1.20% −0.13
CTAS Cintas Corp. Reduce -2.3% 0.95% −0.10
CMCSA Comcast Corp. Class A Reduce -0.1% 1.22% −0.08
MDT Medtronic PLC Reduce -0.2% 1.00% −0.08
IBM Intl Business Machines Corp. Reduce -27.5% 0.17% −0.06
TXN Texas Instruments Inc. Sold out 0.00% −0.05
AFL Aflac Inc. Sold out 0.00% −0.05
WEC WEC Energy Group Inc. Sold out 0.00% −0.05
DUK Duke Energy Corp. Reduce -0.3% 1.22% −0.03
VEU Vanguard Ftse All-World Ex-U Reduce -2.5% 0.32% −0.02
MCD McDonald's Corp. Reduce -0.3% 1.80% −0.02
PFF iShares Preferred & Income S Reduce -1.4% 0.12% −0.00
AOR iShares Core 60/40 Balanced Reduce -2.2% 0.12% −0.00
ORCL Oracle Corp. Reduce -0.6% 0.42% +0.01
QQQ Invesco QQQ Trust Series 1 Reduce -1.1% 0.10% +0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -0.8% 0.64% +0.01
VB Vanguard Most SM-Cap ETF-Usd Reduce -3.3% 0.60% +0.01
IAU iShares Gold Trust Reduce -0.2% 0.61% +0.02
IJH iShares Core S&P Midcap ETF Reduce -1.1% 0.75% +0.02
IJR iShares Core S&P Small-Cap E Reduce -1.2% 2.08% +0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.1% 2.20% +0.04
NVDA Nvidia Corp. Reduce -0.7% 0.36% +0.05
ACN Accenture PLC Class A Reduce -0.3% 1.61% +0.06
ABT Abbott Laboratories Reduce -0.0% 1.74% +0.06
GOOG Alphabet Inc. Class C Reduce -0.5% 0.47% +0.07
MSFT Microsoft Corp. Reduce -0.5% 4.33% +0.08
FAST Fastenal Co. Reduce -0.2% 1.90% +0.09
BNY Bank of New York Mellon Corp. Reduce -1.8% 1.73% +0.15
IVV iShares Core S&P 500 ETF Reduce -0.5% 4.63% +0.27
MA Mastercard Inc. Class A Reduce -0.7% 2.77% +0.27
SNA Snap-on Inc. Reduce -0.4% 1.56% +0.28
CSCO Cisco Systems Inc. Reduce -0.4% 2.16% +0.29
JPM JPMorgan Chase & Co. Reduce -0.6% 2.16% +0.33
AMZN Amazon.com Inc. Reduce -0.3% 1.88% +0.35
AAPL Apple Inc. Reduce -0.8% 3.52% +0.36
WMT Walmart Inc. Reduce -2.1% 2.95% +0.37
GOOGL Alphabet Inc. Class A Reduce -0.9% 2.44% +0.38

Portfolio Buys Q3 2024 → Q4 2024
DIS The Walt Disney Co. Add +2.0% 1.28% +0.24
USB US Bancorp Add +1.6% 1.10% +0.11
LH Labcorp Holdings Inc. Add +0.5% 1.43% +0.10
SYY Sysco Corp. Add +4.6% 1.25% +0.08
XLE SS Energy Select Sector Add +6.1% 1.06% +0.08
SPY SS SPDR S&P 500 ETF Trust-US Add +0.0% 1.02% +0.06
BA The Boeing Co. New 0.06% +0.06
YUMC Yum China Holdings Inc. New 0.05% +0.05
PG The Procter & Gamble Co. Add +1.0% 1.84% +0.04
ESBA Empire State Realty Op LP-Es New 0.03% +0.03
RSP Invesco S&P 500 Equal Weight Add +0.3% 0.11% +0.00
AGG iShares Core U.S. Aggregate Add +0.2% 0.10% +0.00
UPS United Parcel Service Class B Add +3.0% 1.26% −0.01
COP Conocophillips Add +0.2% 0.79% −0.01
VZ Verizon Communications Inc. Add +4.1% 1.04% −0.03
ADBE Adobe Inc. Add +6.0% 0.88% −0.04
IEFA iShares Core MSCI Eafe ETF Add +2.4% 1.19% −0.04
XOM Exxon Mobil Corp. Add +0.6% 1.38% −0.05
IEMG iShares Core MSCI Emerging Add +1.3% 1.34% −0.05
PEP Pepsico Inc. Add +2.1% 1.31% −0.06
MRK Merck & Co. Inc. Add +2.8% 1.57% −0.10
CL Colgate-Palmolive Co. Add +0.8% 1.43% −0.12
OMC Omnicom Group Add +2.5% 1.08% −0.13
NEE Nextera Energy Inc. Add +1.1% 1.31% −0.15
TMO Thermo Fisher Scientific Inc. Add +0.1% 1.19% −0.16
GIS General Mills Inc. Add +0.0% 1.68% −0.18
LMT Lockheed Martin Corp. Add +0.6% 1.34% −0.19

Notes & Other Activity Q3 2024 → Q4 2024
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Add +0.2% 103,320 $4.2M

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