Boston Research & Management Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed September 4, 2026), Boston Research & Management Inc. reported 116 stock positions worth $419.4 million. Its top holding was Microsoft (MSFT) at 4.9% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 4.4%) and Walmart (WMT, 3.0%). Compared with Q1 2025, it opened 4 new positions, sold out of 4, added to 34 and reduced 40. The biggest buy was Amazon.com (AMZN, shares +1%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −2%).

Most Recent 13F
Q2 2026
Location
MANCHESTER, MA
CIK
0001259261
Portfolio Value
$419.4M (Q2 2025)
SEC Filing
0001259261-26-000016 ↗ filed Sep 4, 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 Q1 2025 Q2 2025: $419.4M $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 · $419.4M
MSFT Microsoft Corp. 4.92% 41,500 $20.6M Reduce -1.7%
IVV iShares Core S&P 500 ETF 4.39% 29,624 $18.4M Reduce -2.6%
WMT Walmart Inc. 3.02% 129,461 $12.7M Reduce -1.4%
AAPL Apple Inc. 2.81% 57,443 $11.8M Add +0.5%
MA Mastercard Inc. Class A 2.75% 20,516 $11.5M Reduce -2.6%
JPM JPMorgan Chase & Co. 2.43% 35,089 $10.2M Reduce -1.5%
CSCO Cisco Systems Inc. 2.40% 145,129 $10.1M Reduce -1.2%
ABBV Abbvie Inc. 2.27% 51,286 $9.5M Add +0.3%
TSCO Tractor Supply Company 2.22% 176,580 $9.3M Add +0.9%
BRK.B Berkshire Hathaway Inc. Class B 2.20% 18,995 $9.2M Reduce -1.5%
GOOGL Alphabet Inc. Class A 2.19% 52,113 $9.2M Reduce -1.1%
FAST Fastenal Co. 2.12% 211,802 $8.9M Reduce -1.4%
XYL Xylem Inc. 2.00% 64,952 $8.4M Reduce -0.9%
IJR iShares Core S&P Small-Cap E 1.99% 76,260 $8.3M Add +3.1%
ABT Abbott Laboratories 1.90% 58,703 $8.0M Reduce -2.4%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.88% 86,689 $7.9M Reduce -2.6%
AMZN Amazon.com Inc. 1.82% 34,875 $7.7M Add +0.8%
LIN Linde PLC 1.78% 15,924 $7.5M Reduce -0.3%
MCD McDonald's Corp. 1.75% 25,148 $7.3M Add +0.5%
PG The Procter & Gamble Co. 1.71% 44,977 $7.2M Add +1.3%
IEMG iShares Core MSCI Emerging 1.53% 107,177 $6.4M Add +1.3%
LH Labcorp Holdings Inc. 1.52% 24,221 $6.4M Reduce -1.2%
NVDA Nvidia Corp. 1.48% 39,380 $6.2M Reduce -0.3%
XOM Exxon Mobil Corp. 1.41% 54,774 $5.9M Add +2.5%
SNA Snap-on Inc. 1.41% 18,967 $5.9M Add +2.7%
IEFA iShares Core MSCI Eafe ETF 1.41% 70,670 $5.9M Add +2.2%
GIS General Mills Inc. 1.41% 113,802 $5.9M Add +2.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.37% 46,480 $5.8M Reduce -0.3%
CL Colgate-Palmolive Co. 1.37% 63,248 $5.7M Reduce -0.9%
ACN Accenture PLC Class A 1.36% 19,135 $5.7M Add +2.0%
DHI D.R. Horton Inc. 1.31% 42,522 $5.5M Add +5.7%
DUK Duke Energy Corp. 1.29% 45,760 $5.4M Add +2.1%
KO The Coca-Cola Co. 1.28% 75,979 $5.4M Reduce -2.1%
MRK Merck & Co. Inc. 1.28% 67,625 $5.4M Add +6.3%
NEE Nextera Energy Inc. 1.27% 76,923 $5.3M Add +2.9%
LMT Lockheed Martin Corp. 1.27% 11,529 $5.3M Add +3.1%
SYY Sysco Corp. 1.23% 68,311 $5.2M Add +3.5%
CMCSA Comcast Corp. Class A 1.17% 137,616 $4.9M Add +2.6%
PEP Pepsico Inc. 1.15% 36,575 $4.8M Add +3.3%
VZ Verizon Communications Inc. 1.11% 107,962 $4.7M Add +4.2%
ADBE Adobe Inc. 1.10% 11,938 $4.6M Add +0.5%
IWM iShares Russell 2000 ETF 1.08% 20,975 $4.5M Reduce -0.2%
CTAS Cintas Corp. 1.08% 20,270 $4.5M No change
TMO Thermo Fisher Scientific Inc. 1.06% 10,981 $4.5M Add +17.0%
USB US Bancorp 1.06% 98,040 $4.4M Add +5.3%
MDT Medtronic PLC 1.05% 50,629 $4.4M Add +3.6%
SPY SS SPDR S&P 500 ETF Trust-US 1.05% 7,095 $4.4M Add +0.0%
UPS United Parcel Service Class B 1.03% 42,743 $4.3M Add +7.0%
XLE SS Energy Select Sector 0.90% 44,546 $3.8M Reduce -10.5%
VTI VG Morningstar TS MKT ETF-US 0.90% 12,380 $3.8M No change
OMC Omnicom Group 0.86% 50,261 $3.6M Add +0.7%
COP Conocophillips 0.85% 39,552 $3.5M Add +18.0%
LLY Eli Lilly & Co. 0.78% 4,188 $3.3M No change
HD Home Depot Inc. 0.77% 8,805 $3.2M No change
IJH iShares Core S&P Midcap ETF 0.74% 50,235 $3.1M Add +3.1%
IAU iShares Gold Trust 0.74% 49,863 $3.1M Reduce -0.6%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.61% 31,784 $2.6M Reduce -1.5%
VB Vanguard Most SM-Cap ETF-Usd 0.56% 9,993 $2.4M Reduce -1.9%
ORCL Oracle Corp. 0.52% 9,899 $2.2M Reduce -2.5%
SYK Stryker Corp. 0.41% 4,354 $1.7M No change
GOOG Alphabet Inc. Class C 0.41% 9,650 $1.7M Reduce -0.8%
BBH Vaneck Biotech ETF 0.40% 10,921 $1.7M Reduce -5.9%
JNJ Johnson & Johnson 0.35% 9,661 $1.5M No change
IBB iShares Biotechnology ETF 0.35% 11,503 $1.5M Reduce -4.4%
CAT Caterpillar Inc. 0.33% 3,542 $1.4M No change
VEU Vanguard Ftse All-World Ex-U 0.30% 18,523 $1.2M Reduce -8.6%
CVX Chevron Corp. 0.29% 8,520 $1.2M Reduce -1.0%
VEA Vanguard Ftse Developed ETF 0.27% 20,216 $1.2M Reduce -3.7%
PAYX Paychex Inc. 0.26% 7,555 $1.1M No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.25% 2,412 $1.1M Reduce -28.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.23% 3,213 $947K No change
HYD Vaneck High Yield Muni ETF 0.20% 17,008 $854K Reduce -8.9%
WM Waste Management Inc. 0.17% 3,090 $707K No change
VWO Vanguard Ftse Emerging Marke 0.17% 14,126 $699K Reduce -6.1%
EMR Emerson Electric Co. 0.16% 5,100 $680K No change
MMM 3M Co. 0.16% 4,394 $669K No change
YUM Yum! Brands Inc. 0.15% 4,320 $640K No change
ITW Illinois Tool Works 0.15% 2,580 $638K No change
GE General Electric filed as GE AEROSPACE 0.15% 2,373 $611K Reduce -1.7%
MRSH Marsh & McLennan Cos 0.14% 2,620 $573K No change
RSP Invesco S&P 500 Equal Weight 0.13% 3,091 $562K Add +13.2%
ADP Automatic Data Processing 0.12% 1,630 $503K Reduce -5.0%
QCOM Qualcomm Inc. 0.11% 3,020 $481K No change
AGG iShares Core U.S. Aggregate 0.11% 4,706 $467K Add +9.1%
QQQ Invesco QQQ Trust Series 1 0.11% 845 $466K Add +8.8%
PFF iShares Preferred & Income S 0.11% 15,060 $462K Reduce -3.9%
AOR iShares Core 60/40 Balanced 0.11% 7,289 $449K Reduce -14.3%
SO The Southern Co. 0.10% 4,710 $433K No change
PPG PPG Industries Inc. 0.10% 3,700 $421K No change
TSLA Tesla Inc. 0.10% 1,265 $402K No change
KMB Kimberly-Clark Corp. 0.09% 3,030 $391K No change
DHR Danaher Corp. 0.09% 1,918 $379K No change
PFE Pfizer Inc. 0.09% 15,027 $364K No change
AMGN Amgen Inc. 0.08% 1,237 $345K No change
IXN iShares Global Tech ETF 0.08% 3,600 $332K No change
BXP BXP Inc. 0.08% 4,850 $327K No change
GEV GE Vernova Inc. 0.08% 600 $317K New
BMY Bristol-Myers Squibb Co. 0.07% 6,660 $308K No change
GPC Genuine Parts Co. 0.07% 2,390 $290K No change
COST Costco Wholesale Corp. 0.07% 290 $287K No change
IWF iShares Russell 1000 Growth 0.07% 643 $273K Reduce -10.9%
BA The Boeing Co. 0.06% 1,300 $272K No change
IWB iShares Russell 1000 ETF 0.06% 768 $261K No change
MAS Masco Corp. 0.06% 4,000 $257K No change
AXP American Express Co. 0.06% 800 $255K No change
NUE Nucor Corp. 0.06% 1,936 $251K No change
RTX RTX Corp. 0.06% 1,635 $239K Reduce -2.1%
UNH Unitedhealth Group Inc. 0.06% 740 $231K No change
GD General Dynamics Corp. 0.05% 770 $225K No change
WOR Worthington Enterprises Inc. 0.05% 3,500 $223K New
TXN Texas Instruments Inc. 0.05% 1,060 $220K New
LOW Lowe's Cos Inc. 0.05% 980 $217K No change
GS Goldman Sachs Group Inc. 0.05% 300 $212K New
HPQ HP Inc. 0.05% 8,680 $212K No change
A Agilent Technologies Inc. 0.05% 1,737 $205K Reduce -5.7%
ESBA Empire State Realty Op LP-Es 0.02% 10,754 $85K 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 121,960$3.9MAdd +12.5%

Total filed on the 13F, all lines: $423.3M.

Portfolio Sells Q1 2025 → Q2 2025
BRK.B Berkshire Hathaway Inc. Class B Reduce -1.5% 2.20% −0.34
XLE SS Energy Select Sector Reduce -10.5% 0.90% −0.25
CL Colgate-Palmolive Co. Reduce -0.9% 1.37% −0.10
MA Mastercard Inc. Class A Reduce -2.6% 2.75% −0.10
DIA SS SPDR Dow Jones Indus Avg Reduce -28.4% 0.25% −0.10
KO The Coca-Cola Co. Reduce -2.1% 1.28% −0.09
ABT Abbott Laboratories Reduce -2.4% 1.90% −0.07
CVX Chevron Corp. Reduce -1.0% 0.29% −0.06
YUMC Yum China Holdings Inc. Sold out 0.00% −0.06
LIN Linde PLC Reduce -0.3% 1.78% −0.05
AFL Aflac Inc. Sold out 0.00% −0.05
BBH Vaneck Biotech ETF Reduce -5.9% 0.40% −0.05
WEC WEC Energy Group Inc. Sold out 0.00% −0.05
CLX Clorox Company Sold out 0.00% −0.05
IBB iShares Biotechnology ETF Reduce -4.4% 0.35% −0.03
HYD Vaneck High Yield Muni ETF Reduce -8.9% 0.20% −0.03
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -1.5% 0.61% −0.02
AOR iShares Core 60/40 Balanced Reduce -14.3% 0.11% −0.01
ADP Automatic Data Processing Reduce -5.0% 0.12% −0.01
PFF iShares Preferred & Income S Reduce -3.9% 0.11% −0.01
VEU Vanguard Ftse All-World Ex-U Reduce -8.6% 0.30% −0.01
A Agilent Technologies Inc. Reduce -5.7% 0.05% −0.00
VWO Vanguard Ftse Emerging Marke Reduce -6.1% 0.17% −0.00
IWF iShares Russell 1000 Growth Reduce -10.9% 0.07% +0.00
RTX RTX Corp. Reduce -2.1% 0.06% +0.00
VB Vanguard Most SM-Cap ETF-Usd Reduce -1.9% 0.56% +0.01
VEA Vanguard Ftse Developed ETF Reduce -3.7% 0.27% +0.01
IAU iShares Gold Trust Reduce -0.6% 0.74% +0.01
GE General Electric Reduce -1.7% 0.15% +0.03
GOOG Alphabet Inc. Class C Reduce -0.8% 0.41% +0.03
BNY Bank of New York Mellon Corp. Reduce -2.6% 1.88% +0.04
IWM iShares Russell 2000 ETF Reduce -0.2% 1.08% +0.04
FAST Fastenal Co. Reduce -1.4% 2.12% +0.07
XYL Xylem Inc. Reduce -0.9% 2.00% +0.07
LH Labcorp Holdings Inc. Reduce -1.2% 1.52% +0.11
CSCO Cisco Systems Inc. Reduce -1.2% 2.40% +0.16
ORCL Oracle Corp. Reduce -2.5% 0.52% +0.17
IVV iShares Core S&P 500 ETF Reduce -2.6% 4.39% +0.17
WMT Walmart Inc. Reduce -1.4% 3.02% +0.17
GOOGL Alphabet Inc. Class A Reduce -1.1% 2.19% +0.18
DIS The Walt Disney Co. Reduce -0.3% 1.37% +0.24
JPM JPMorgan Chase & Co. Reduce -1.5% 2.43% +0.27
NVDA Nvidia Corp. Reduce -0.3% 1.48% +0.43
MSFT Microsoft Corp. Reduce -1.7% 4.92% +1.01

Portfolio Buys Q1 2025 → Q2 2025
AMZN Amazon.com Inc. Add +0.8% 1.82% +0.20
IEMG iShares Core MSCI Emerging Add +1.3% 1.53% +0.13
IEFA iShares Core MSCI Eafe ETF Add +2.2% 1.41% +0.12
USB US Bancorp Add +5.3% 1.06% +0.09
IJR iShares Core S&P Small-Cap E Add +3.1% 1.99% +0.08
GEV GE Vernova Inc. New 0.08% +0.08
SPY SS SPDR S&P 500 ETF Trust-US Add +0.0% 1.05% +0.07
WOR Worthington Enterprises Inc. New 0.05% +0.05
TXN Texas Instruments Inc. New 0.05% +0.05
GS Goldman Sachs Group Inc. New 0.05% +0.05
DHI D.R. Horton Inc. Add +5.7% 1.31% +0.04
IJH iShares Core S&P Midcap ETF Add +3.1% 0.74% +0.04
LMT Lockheed Martin Corp. Add +3.1% 1.27% +0.04
QQQ Invesco QQQ Trust Series 1 Add +8.8% 0.11% +0.02
RSP Invesco S&P 500 Equal Weight Add +13.2% 0.13% +0.02
SYY Sysco Corp. Add +3.5% 1.23% +0.01
AGG iShares Core U.S. Aggregate Add +9.1% 0.11% +0.01
COP Conocophillips Add +18.0% 0.85% −0.02
ADBE Adobe Inc. Add +0.5% 1.10% −0.02
MDT Medtronic PLC Add +3.6% 1.05% −0.03
NEE Nextera Energy Inc. Add +2.9% 1.27% −0.04
VZ Verizon Communications Inc. Add +4.2% 1.11% −0.05
CMCSA Comcast Corp. Class A Add +2.6% 1.17% −0.05
UPS United Parcel Service Class B Add +7.0% 1.03% −0.06
DUK Duke Energy Corp. Add +2.1% 1.29% −0.06
ACN Accenture PLC Class A Add +2.0% 1.36% −0.08
TMO Thermo Fisher Scientific Inc. Add +17.0% 1.06% −0.09
SNA Snap-on Inc. Add +2.7% 1.41% −0.13
MRK Merck & Co. Inc. Add +6.3% 1.28% −0.13
TSCO Tractor Supply Company Add +0.9% 2.22% −0.16
PEP Pepsico Inc. Add +3.3% 1.15% −0.16
OMC Omnicom Group Add +0.7% 0.86% −0.16
XOM Exxon Mobil Corp. Add +2.5% 1.41% −0.16
PG The Procter & Gamble Co. Add +1.3% 1.71% −0.16
MCD McDonald's Corp. Add +0.5% 1.75% −0.18
GIS General Mills Inc. Add +2.9% 1.41% −0.23
AAPL Apple Inc. Add +0.5% 2.81% −0.32
ABBV Abbvie Inc. Add +0.3% 2.27% −0.37

Notes & Other Activity Q1 2025 → Q2 2025
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Add +12.5% 121,960 $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