Boston Research & Management Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed September 9, 2026), Boston Research & Management Inc. reported 116 stock positions worth $405.1 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 4.2% of the portfolio, followed by Microsoft (MSFT, 3.9%) and Apple (AAPL, 3.1%). Compared with Q4 2024, it opened 3 new positions, sold out of 2, added to 17 and reduced 54. The biggest buy was Nvidia (NVDA, shares +258%) and the biggest sale Alphabet Class A (GOOGL, shares −0%).

Most Recent 13F
Q2 2026
Location
MANCHESTER, MA
CIK
0001259261
Portfolio Value
$405.1M (Q1 2025)
SEC Filing
0001259261-26-000018 ↗ filed Sep 9, 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 Q4 2024 Q1 2025: $405.1M $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 116 stocks · $405.1M
IVV iShares Core S&P 500 ETF 4.22% 30,409 $17.1M Reduce -5.7%
MSFT Microsoft Corp. 3.91% 42,224 $15.9M Add +0.2%
AAPL Apple Inc. 3.13% 57,146 $12.7M Reduce -0.9%
MA Mastercard Inc. Class A 2.85% 21,070 $11.5M Reduce -2.4%
WMT Walmart Inc. 2.85% 131,354 $11.5M Reduce -1.9%
ABBV Abbvie Inc. 2.64% 51,118 $10.7M Reduce -2.4%
BRK.B Berkshire Hathaway Inc. Class B 2.54% 19,292 $10.3M Reduce -2.9%
TSCO Tractor Supply Company 2.38% 174,970 $9.6M Reduce -2.3%
CSCO Cisco Systems Inc. 2.24% 146,894 $9.1M Reduce -1.5%
JPM JPMorgan Chase & Co. 2.16% 35,631 $8.7M Reduce -3.5%
FAST Fastenal Co. 2.06% 107,392 $8.3M Reduce -0.9%
GOOGL Alphabet Inc. Class A 2.01% 52,679 $8.1M Reduce -0.3%
ABT Abbott Laboratories 1.97% 60,137 $8.0M Reduce -4.8%
XYL Xylem Inc. 1.93% 65,517 $7.8M Reduce -0.5%
MCD McDonald's Corp. 1.93% 25,031 $7.8M Reduce -1.4%
IJR iShares Core S&P Small-Cap E 1.91% 73,951 $7.7M Add +0.1%
PG The Procter & Gamble Co. 1.87% 44,422 $7.6M Reduce -1.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.84% 89,037 $7.5M Reduce -3.3%
LIN Linde PLC 1.84% 15,972 $7.4M Reduce -1.4%
GIS General Mills Inc. 1.63% 110,646 $6.6M Add +2.2%
AMZN Amazon.com Inc. 1.63% 34,615 $6.6M Reduce -1.5%
XOM Exxon Mobil Corp. 1.57% 53,412 $6.4M Add +1.3%
SNA Snap-on Inc. 1.54% 18,461 $6.2M Reduce -1.8%
CL Colgate-Palmolive Co. 1.48% 63,801 $6.0M Reduce -1.2%
ACN Accenture PLC Class A 1.45% 18,765 $5.9M Add +0.1%
IEMG iShares Core MSCI Emerging 1.41% 105,778 $5.7M Add +0.5%
MRK Merck & Co. Inc. 1.41% 63,596 $5.7M Reduce -1.8%
LH Labcorp Holdings Inc. 1.41% 24,525 $5.7M Reduce -3.8%
KO The Coca-Cola Co. 1.37% 77,627 $5.6M Reduce -1.7%
DUK Duke Energy Corp. 1.35% 44,807 $5.5M Reduce -3.1%
PEP Pepsico Inc. 1.31% 35,398 $5.3M Add +0.4%
NEE Nextera Energy Inc. 1.31% 74,778 $5.3M Add +0.1%
IEFA iShares Core MSCI Eafe ETF 1.29% 69,129 $5.2M Add +0.0%
DHI D.R. Horton Inc. 1.26% 40,238 $5.1M Reduce -1.1%
LMT Lockheed Martin Corp. 1.23% 11,181 $5.0M Reduce -0.8%
SYY Sysco Corp. 1.22% 66,005 $5.0M Reduce -1.2%
CMCSA Comcast Corp. Class A 1.22% 134,174 $5.0M Add +0.6%
VZ Verizon Communications Inc. 1.16% 103,655 $4.7M Reduce -2.7%
TMO Thermo Fisher Scientific Inc. 1.15% 9,385 $4.7M Add +0.2%
XLE SS Energy Select Sector 1.15% 49,781 $4.7M Reduce -2.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.14% 46,635 $4.6M Reduce -1.0%
ADBE Adobe Inc. 1.12% 11,874 $4.6M Add +47.2%
UPS United Parcel Service Class B 1.08% 39,952 $4.4M Reduce -2.6%
MDT Medtronic PLC 1.08% 48,852 $4.4M Reduce -4.6%
NVDA Nvidia Corp. 1.06% 39,480 $4.3M Add +258.3%
IWM iShares Russell 2000 ETF 1.03% 21,008 $4.2M Reduce -0.2%
CTAS Cintas Corp. 1.03% 20,270 $4.2M Reduce -4.8%
OMC Omnicom Group 1.02% 49,926 $4.1M Reduce -2.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.98% 7,094 $4.0M Reduce -0.3%
USB US Bancorp 0.97% 93,093 $3.9M Reduce -1.5%
COP Conocophillips 0.87% 33,518 $3.5M Add +2.2%
LLY Eli Lilly & Co. 0.85% 4,188 $3.5M No change
VTI VG Morningstar TS MKT ETF-US 0.84% 12,380 $3.4M No change
HD Home Depot Inc. 0.80% 8,805 $3.2M No change
IAU iShares Gold Trust 0.73% 50,143 $3.0M Reduce -0.3%
IJH iShares Core S&P Midcap ETF 0.70% 48,743 $2.8M Reduce -0.9%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.63% 32,269 $2.5M Reduce -2.6%
VB Vanguard Most SM-Cap ETF-Usd 0.56% 10,191 $2.3M Reduce -0.8%
BBH Vaneck Biotech ETF 0.45% 11,601 $1.8M Reduce -3.1%
SYK Stryker Corp. 0.40% 4,354 $1.6M No change
JNJ Johnson & Johnson 0.40% 9,661 $1.6M No change
IBB iShares Biotechnology ETF 0.38% 12,027 $1.5M Reduce -5.0%
GOOG Alphabet Inc. Class C 0.38% 9,725 $1.5M Reduce -3.8%
CVX Chevron Corp. 0.36% 8,608 $1.4M No change
ORCL Oracle Corp. 0.35% 10,154 $1.4M Reduce -1.0%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.35% 3,367 $1.4M No change
VEU Vanguard Ftse All-World Ex-U 0.30% 20,273 $1.2M Reduce -9.9%
CAT Caterpillar Inc. 0.29% 3,542 $1.2M No change
PAYX Paychex Inc. 0.29% 7,555 $1.2M Reduce -0.5%
VEA Vanguard Ftse Developed ETF 0.26% 20,994 $1.1M Reduce -4.6%
HYD Vaneck High Yield Muni ETF 0.24% 18,678 $956K Reduce -6.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.20% 3,213 $799K No change
WM Waste Management Inc. 0.18% 3,090 $715K No change
VWO Vanguard Ftse Emerging Marke 0.17% 15,048 $681K Reduce -6.8%
YUM Yum! Brands Inc. 0.17% 4,320 $680K No change
MMM 3M Co. 0.16% 4,394 $645K No change
ITW Illinois Tool Works 0.16% 2,580 $640K No change
MRSH Marsh & McLennan Cos 0.16% 2,620 $639K No change
EMR Emerson Electric Co. 0.14% 5,100 $559K No change
ADP Automatic Data Processing 0.13% 1,715 $524K No change
AOR iShares Core 60/40 Balanced 0.12% 8,509 $490K Add +0.7%
GE General Electric filed as GE AEROSPACE 0.12% 2,413 $483K No change
PFF iShares Preferred & Income S 0.12% 15,665 $481K Reduce -0.1%
RSP Invesco S&P 500 Equal Weight 0.12% 2,730 $473K Add +1.8%
QCOM Qualcomm Inc. 0.11% 3,020 $464K No change
SO The Southern Co. 0.11% 4,710 $433K No change
KMB Kimberly-Clark Corp. 0.11% 3,030 $431K No change
AGG iShares Core U.S. Aggregate 0.11% 4,314 $427K Add +1.0%
BMY Bristol-Myers Squibb Co. 0.10% 6,660 $406K No change
PPG PPG Industries Inc. 0.10% 3,700 $405K No change
DHR Danaher Corp. 0.10% 1,918 $393K No change
UNH Unitedhealth Group Inc. 0.10% 740 $388K No change
AMGN Amgen Inc. 0.10% 1,237 $385K No change
PFE Pfizer Inc. 0.09% 15,027 $381K No change
QQQ Invesco QQQ Trust Series 1 0.09% 777 $365K Reduce -3.8%
TSLA Tesla Inc. 0.08% 1,265 $328K New
BXP BXP Inc. 0.08% 4,850 $326K No change
GPC Genuine Parts Co. 0.07% 2,390 $285K No change
MAS Masco Corp. 0.07% 4,000 $278K No change
COST Costco Wholesale Corp. 0.07% 290 $274K No change
IXN iShares Global Tech ETF 0.07% 3,600 $273K No change
IWF iShares Russell 1000 Growth 0.06% 722 $261K Reduce -6.5%
HPQ HP Inc. 0.06% 8,680 $240K No change
IWB iShares Russell 1000 ETF 0.06% 768 $236K No change
NUE Nucor Corp. 0.06% 1,936 $233K No change
LOW Lowe's Cos Inc. 0.06% 980 $229K No change
YUMC Yum China Holdings Inc. 0.06% 4,320 $225K No change
BA The Boeing Co. 0.05% 1,300 $222K No change
RTX RTX Corp. 0.05% 1,670 $221K Reduce -5.7%
A Agilent Technologies Inc. 0.05% 1,841 $215K No change
AXP American Express Co. 0.05% 800 $215K No change
GD General Dynamics Corp. 0.05% 770 $210K No change
AFL Aflac Inc. 0.05% 1,880 $209K New
WEC WEC Energy Group Inc. 0.05% 1,902 $207K New
CLX Clorox Company 0.05% 1,375 $202K No change
ESBA Empire State Realty Op LP-Es 0.02% 10,754 $83K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $3.9M (not counted above)
SecurityClassShares / PrincipalValueChange
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 108,440$3.9MAdd +5.0%

Total filed on the 13F, all lines: $409.0M.

Portfolio Sells Q4 2024 → Q1 2025
GOOGL Alphabet Inc. Class A Reduce -0.3% 2.01% −0.43
IVV iShares Core S&P 500 ETF Reduce -5.7% 4.22% −0.42
AAPL Apple Inc. Reduce -0.9% 3.13% −0.39
CVS CVS Health Corp. Sold out 0.00% −0.37
AMZN Amazon.com Inc. Reduce -1.5% 1.63% −0.26
QRVO Qorvo Inc. Sold out 0.00% −0.21
UPS United Parcel Service Class B Reduce -2.6% 1.08% −0.18
MRK Merck & Co. Inc. Reduce -1.8% 1.41% −0.16
DIS The Walt Disney Co. Reduce -1.0% 1.14% −0.14
USB US Bancorp Reduce -1.5% 0.97% −0.13
DHI D.R. Horton Inc. Reduce -1.1% 1.26% −0.13
WMT Walmart Inc. Reduce -1.9% 2.85% −0.11
LMT Lockheed Martin Corp. Reduce -0.8% 1.23% −0.10
IWM iShares Russell 2000 ETF Reduce -0.2% 1.03% −0.10
GOOG Alphabet Inc. Class C Reduce -3.8% 0.38% −0.09
ORCL Oracle Corp. Reduce -1.0% 0.35% −0.07
OMC Omnicom Group Reduce -2.8% 1.02% −0.06
IJH iShares Core S&P Midcap ETF Reduce -0.9% 0.70% −0.05
VB Vanguard Most SM-Cap ETF-Usd Reduce -0.8% 0.56% −0.04
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.3% 0.98% −0.04
IBB iShares Biotechnology ETF Reduce -5.0% 0.38% −0.03
SYY Sysco Corp. Reduce -1.2% 1.22% −0.02
SNA Snap-on Inc. Reduce -1.8% 1.54% −0.02
LH Labcorp Holdings Inc. Reduce -3.8% 1.41% −0.02
HYD Vaneck High Yield Muni ETF Reduce -6.0% 0.24% −0.02
VEU Vanguard Ftse All-World Ex-U Reduce -9.9% 0.30% −0.01
IWF iShares Russell 1000 Growth Reduce -6.5% 0.06% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -3.8% 0.09% −0.01
BBH Vaneck Biotech ETF Reduce -3.1% 0.45% −0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -2.6% 0.63% −0.01
VWO Vanguard Ftse Emerging Marke Reduce -6.8% 0.17% −0.01
JPM JPMorgan Chase & Co. Reduce -3.5% 2.16% −0.00
PFF iShares Preferred & Income S Reduce -0.1% 0.12% −0.00
RTX RTX Corp. Reduce -5.7% 0.05% +0.00
VEA Vanguard Ftse Developed ETF Reduce -4.6% 0.26% +0.01
PAYX Paychex Inc. Reduce -0.5% 0.29% +0.03
PG The Procter & Gamble Co. Reduce -1.0% 1.87% +0.03
CL Colgate-Palmolive Co. Reduce -1.2% 1.48% +0.04
TSCO Tractor Supply Company Reduce -2.3% 2.38% +0.06
XYL Xylem Inc. Reduce -0.5% 1.93% +0.07
MA Mastercard Inc. Class A Reduce -2.4% 2.85% +0.08
CTAS Cintas Corp. Reduce -4.8% 1.03% +0.08
CSCO Cisco Systems Inc. Reduce -1.5% 2.24% +0.08
XLE SS Energy Select Sector Reduce -2.2% 1.15% +0.08
MDT Medtronic PLC Reduce -4.6% 1.08% +0.09
BNY Bank of New York Mellon Corp. Reduce -3.3% 1.84% +0.12
VZ Verizon Communications Inc. Reduce -2.7% 1.16% +0.12
IAU iShares Gold Trust Reduce -0.3% 0.73% +0.12
DUK Duke Energy Corp. Reduce -3.1% 1.35% +0.13
MCD McDonald's Corp. Reduce -1.4% 1.93% +0.13

Portfolio Buys Q4 2024 → Q1 2025
NVDA Nvidia Corp. Add +258.3% 1.06% +0.69
ADBE Adobe Inc. Add +47.2% 1.12% +0.25
XOM Exxon Mobil Corp. Add +1.3% 1.57% +0.18
IEFA iShares Core MSCI Eafe ETF Add +0.0% 1.29% +0.11
TSLA Tesla Inc. New 0.08% +0.08
COP Conocophillips Add +2.2% 0.87% +0.08
IEMG iShares Core MSCI Emerging Add +0.5% 1.41% +0.07
AFL Aflac Inc. New 0.05% +0.05
WEC WEC Energy Group Inc. New 0.05% +0.05
AGG iShares Core U.S. Aggregate Add +1.0% 0.11% +0.00
AOR iShares Core 60/40 Balanced Add +0.7% 0.12% +0.00
RSP Invesco S&P 500 Equal Weight Add +1.8% 0.12% +0.00
PEP Pepsico Inc. Add +0.4% 1.31% +0.00
NEE Nextera Energy Inc. Add +0.1% 1.31% +0.00
CMCSA Comcast Corp. Class A Add +0.6% 1.22% 0.00
TMO Thermo Fisher Scientific Inc. Add +0.2% 1.15% −0.04
GIS General Mills Inc. Add +2.2% 1.63% −0.05
ACN Accenture PLC Class A Add +0.1% 1.45% −0.16
IJR iShares Core S&P Small-Cap E Add +0.1% 1.91% −0.17
MSFT Microsoft Corp. Add +0.2% 3.91% −0.42

Notes & Other Activity Q4 2024 → Q1 2025
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Add +5.0% 108,440 $3.9M

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