New England Research & Management, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 7, 2026), New England Research & Management, Inc. reported 144 stock positions worth $228.6 million. Its top holding was Alphabet Class A (GOOGL) at 5.4% of the portfolio, followed by Apple (AAPL, 4.4%) and Microsoft (MSFT, 3.2%). Compared with Q3 2025, it opened 32 new positions, sold out of 34, added to 30 and reduced 53. The biggest buy was Goldman Sachs (GS, shares +183%) and the biggest sale an exit from Dell.

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001596077
Portfolio Value
$228.6M (Q4 2025)
SEC Filing
0001951757-26-000024 ↗ filed Jan 7, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $203.8M Q1 2024 Q2 2024: $208.2M Q2 2024 Q3 2024: $213.1M Q3 2024 Q4 2024: $196.5M Q4 2024 Q1 2025: $196.9M Q1 2025 Q2 2025: $210.5M Q2 2025 Q3 2025: $217.7M Q3 2025 Q4 2025: $228.6M $228.6M Q4 2025 Q1 2026: $236.6M Q1 2026 Q2 2026: $256.9M Q2 2026

Holdings 144 stocks · $228.6M
GOOGL Alphabet Inc. Class A 5.41% 39,509 $12.4M Reduce -0.9%
AAPL Apple Inc. 4.44% 37,338 $10.2M Reduce -0.4%
MSFT Microsoft Corp. 3.16% 14,955 $7.2M Add +18.4%
URI United Rentals Inc. 3.12% 8,816 $7.1M Add +13.4%
JNJ Johnson & Johnson 2.65% 29,233 $6.0M Reduce -0.5%
AMZN Amazon.com Inc. 2.59% 25,634 $5.9M Reduce -0.3%
PWR Quanta Services Inc. 2.31% 12,518 $5.3M Reduce -3.0%
ABBV Abbvie Inc. 2.16% 21,581 $4.9M Add +9.0%
CHD Church & Dwight Co. Inc. 1.94% 52,850 $4.4M Reduce -1.0%
GEV GE Vernova Inc. 1.92% 6,708 $4.4M Add +71.6%
CSX CSX Corp. 1.86% 117,560 $4.3M Reduce -1.6%
BRK.B Berkshire Hathaway Inc. Class B 1.73% 7,870 $4.0M No change
GS Goldman Sachs Group Inc. 1.63% 4,251 $3.7M Add +183.2%
AVGO Broadcom Inc. 1.63% 10,755 $3.7M Add +11.6%
COF Capital One Financial Corp. 1.59% 14,952 $3.6M Add +115.9%
V Visa Inc. Class A 1.43% 9,329 $3.3M Add +72.6%
GOOG Alphabet Inc. Class C 1.39% 10,113 $3.2M Reduce -2.5%
UBER Uber Technologies Inc. 1.37% 38,309 $3.1M Add +47.3%
MRK Merck & Co. Inc. 1.35% 29,238 $3.1M Add +35.4%
ABT Abbott Laboratories 1.29% 23,574 $3.0M Add +128.1%
META Meta Platforms Inc. Class A 1.26% 4,363 $2.9M Reduce -15.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 1.20% 9,265 $2.7M Reduce -13.1%
ETN Eaton Corp. PLC 1.20% 8,614 $2.7M Reduce -8.8%
SYY Sysco Corp. 1.18% 36,474 $2.7M Reduce -0.2%
AWK American Water Works Co. Inc. 1.17% 20,500 $2.7M Add +49.4%
MS Morgan Stanley 1.16% 14,875 $2.6M Reduce -2.6%
NFLX Netflix Inc. 1.14% 27,905 $2.6M Add +68.0%
LLY Eli Lilly & Co. 1.12% 2,376 $2.6M Reduce -2.7%
ZTS Zoetis Inc. 1.10% 20,047 $2.5M Reduce -15.1%
XOM Exxon Mobil Corp. 1.04% 19,852 $2.4M No change
MCD McDonald's Corp. 1.04% 7,809 $2.4M Add +51.4%
PANW Palo Alto Networks Inc. 1.02% 12,654 $2.3M Add +16.4%
KMB Kimberly-Clark Corp. 0.99% 22,324 $2.3M Add +124.4%
NEE Nextera Energy Inc. 0.96% 27,381 $2.2M Reduce -0.6%
UTHR United Therapeutics Corp. 0.95% 4,440 $2.2M No change
TFC Truist Financial Corp. 0.94% 43,842 $2.2M Reduce -0.9%
H Hyatt Hotels Corp. Class A 0.94% 13,405 $2.1M Reduce -42.6%
AMGN Amgen Inc. 0.93% 6,495 $2.1M Add +30.7%
PG The Procter & Gamble Co. 0.84% 13,395 $1.9M Add +60.5%
CB Chubb Ltd. 0.83% 6,075 $1.9M No change
VEEV Veeva Systems Inc. Class A 0.82% 8,415 $1.9M Add +274.0%
DELL Dell Technologies -C 0.78% 14,236 $1.8M New
UNP Union Pacific Corp. 0.77% 7,588 $1.8M Add +19.3%
INCY Incyte Corp. 0.75% 17,400 $1.7M New
WFC Wells Fargo & Co. 0.74% 18,105 $1.7M Add +25.3%
NVDA Nvidia Corp. 0.72% 8,801 $1.6M Add +21.8%
KO The Coca-Cola Co. 0.70% 22,858 $1.6M No change
SYK Stryker Corp. 0.66% 4,300 $1.5M New
J Jacobs Solutions Inc. 0.65% 11,268 $1.5M New
GILD Gilead Sciences Inc. 0.63% 11,700 $1.4M New
PFE Pfizer Inc. 0.61% 55,773 $1.4M Add +20.7%
VRT Vertiv Holdings Co. Class A 0.60% 8,429 $1.4M Reduce -40.3%
CFG Citizens Financial Group 0.59% 23,187 $1.4M Add +4.7%
CP Canadian Pacific Kansas City 0.57% 17,680 $1.3M Reduce -5.7%
GE General Electric filed as GE AEROSPACE 0.57% 4,222 $1.3M No change
WM Waste Management Inc. 0.57% 5,910 $1.3M Reduce -1.3%
PB Prosperity Bancshares Inc. 0.56% 18,625 $1.3M Add +50.2%
TMO Thermo Fisher Scientific Inc. 0.56% 2,193 $1.3M Reduce -8.7%
IR Ingersoll-Rand Inc. 0.54% 15,634 $1.2M Reduce -0.3%
EQT Eqt Corp. 0.54% 22,955 $1.2M New
INVH Invitation Homes Inc. 0.53% 43,475 $1.2M Reduce -20.4%
BLK BlackRock Inc. 0.53% 1,125 $1.2M New
IQV Iqvia Holdings Inc. 0.50% 5,080 $1.1M New
CRH CRH PLC 0.49% 8,892 $1.1M New
EOG EOG Resources Inc. 0.48% 10,475 $1.1M Add +246.3%
NKE Nike Inc. Class B 0.48% 17,125 $1.1M Reduce -1.9%
RY Royal Bank of Canada 0.47% 6,300 $1.1M No change
TOL Toll Brothers Inc. 0.46% 7,850 $1.1M No change
UPS United Parcel Service Class B 0.46% 10,610 $1.1M Reduce -1.9%
COST Costco Wholesale Corp. 0.46% 1,215 $1.0M Add +358.5%
TDG Transdigm Group Inc. 0.45% 777 $1.0M Reduce -3.5%
PODD Insulet Corp. 0.45% 3,600 $1.0M New
INDB Independent Bank Corp. 0.43% 13,492 $986K Reduce -0.5%
MA Mastercard Inc. Class A 0.43% 1,705 $973K No change
ROP Roper Technologies Inc. 0.41% 2,105 $937K New
MRVL Marvell Technology Inc. 0.41% 11,000 $935K New
SBUX Starbucks Corp. 0.40% 10,834 $912K Reduce -8.8%
WASH Washington Trust Bancorp 0.38% 29,700 $878K Reduce -17.9%
IDXX Idexx Laboratories Inc. 0.36% 1,200 $812K New
BMY Bristol-Myers Squibb Co. 0.35% 14,955 $807K Reduce -43.9%
CAT Caterpillar Inc. 0.33% 1,331 $762K New
RCL Royal Caribbean Cruises Ltd. 0.33% 2,725 $760K New
CWEN Clearway Energy Inc. Class C 0.33% 22,500 $748K Reduce -2.2%
AIR Aar Corp. 0.33% 8,975 $743K Reduce -2.2%
LEN Lennar Corp. Class A 0.30% 6,745 $693K Reduce -69.0%
CSCO Cisco Systems Inc. 0.29% 8,665 $667K Reduce -0.9%
CL Colgate-Palmolive Co. 0.29% 8,288 $655K No change
PEP Pepsico Inc. 0.29% 4,546 $652K Reduce -3.2%
DHI D.R. Horton Inc. 0.28% 4,400 $634K Reduce -48.7%
EMR Emerson Electric Co. 0.27% 4,708 $625K No change
AZN Astrazeneca PLC-Spons ADR 0.27% 6,697 $616K No change
SU Suncor Energy Inc. 0.27% 13,730 $609K New
PATK Patrick Industries Inc. 0.26% 5,586 $606K No change
IBP Installed Building Products 0.26% 2,325 $603K Reduce -6.1%
EME Emcor Group Inc. 0.26% 978 $598K New
WMT Walmart Inc. 0.25% 5,217 $581K Reduce -6.8%
HOOD Robinhood Markets Inc. Class A 0.25% 5,050 $571K New
MHK Mohawk Industries Inc. 0.25% 5,175 $566K New
MDT Medtronic PLC 0.24% 5,813 $558K Reduce -4.5%
SPG Simon Property Group Inc. 0.24% 3,010 $557K Reduce -2.9%
NCLH Norwegian Cruise Line Holdin 0.24% 24,800 $554K Reduce -30.8%
LHX L3HARRIS Technologies Inc. 0.23% 1,800 $528K No change
FTNT Fortinet Inc. 0.23% 6,595 $524K Reduce -19.6%
SHW The Sherwin-Williams Co. 0.22% 1,575 $510K New
MMM 3M Co. 0.22% 3,100 $496K Reduce -7.5%
DHR Danaher Corp. 0.21% 2,095 $480K Add +3.7%
AES AES Corp. 0.20% 32,540 $467K New
MOD Modine Manufacturing Co. 0.20% 3,450 $461K New
CARR Carrier Global Corp. 0.19% 8,275 $437K Reduce -83.3%
EXE Expand Energy Corp. 0.19% 3,875 $428K New
ALL Allstate Corp. 0.18% 2,000 $416K No change
MC Moelis & Co. Class A 0.18% 6,000 $412K Add +10.6%
CNQ Canadian Natural Resources 0.18% 12,100 $410K New
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.17% 3,780 $396K Add +43.7%
REGN Regeneron Pharmaceuticals 0.17% 500 $386K New
MDLZ Mondelez International Inc. Class A 0.17% 7,162 $386K Reduce -68.8%
LEU Centrus Energy Corp. Class A 0.17% 1,570 $381K Reduce -29.4%
AB Alliancebernstein Holding LP 0.17% 9,900 $381K No change
INTU Intuit Inc. 0.17% 575 $381K No change
QSR Restaurant Brands Intern 0.17% 5,549 $379K No change
XYL Xylem Inc. 0.16% 2,744 $374K No change
JPM JPMorgan Chase & Co. 0.15% 1,089 $351K No change
CCL Carnival Corp. 0.15% 11,100 $339K Reduce -48.1%
GIS General Mills Inc. 0.15% 7,200 $335K Reduce -2.7%
NTR Nutrien Ltd. 0.14% 5,050 $312K New
LII Lennox International Inc. 0.13% 635 $308K Reduce -79.1%
DRI Darden Restaurants Inc. 0.13% 1,591 $293K No change
FSLR First Solar Inc. 0.12% 1,050 $274K New
CRWD CrowdStrike Holdings Inc. Class A 0.12% 575 $270K New
HON Honeywell International Inc. 0.12% 1,368 $267K No change
HSY The Hershey Co. 0.11% 1,425 $259K No change
RBC RBC Bearings Inc. 0.11% 575 $258K Reduce -79.5%
UNH Unitedhealth Group Inc. 0.11% 775 $256K Reduce -41.5%
FAF First American Financial 0.11% 4,050 $249K No change
DT Dynatrace Inc. 0.10% 5,525 $239K No change
BCS Barclays PLC-Spons ADR 0.10% 9,050 $230K New
TRV The Travelers Cos Inc. 0.10% 787 $228K No change
CFR Cullen/Frost Bankers Inc. 0.10% 1,800 $228K No change
WMS Advanced Drainage Systems Inc. 0.10% 1,550 $224K New
TT Trane Technologies PLC 0.10% 575 $224K No change
KEY Keycorp 0.09% 10,400 $215K New
CME Cme Group Inc. 0.09% 735 $201K Reduce -41.2%
LTH Life Time Group Holdings Inc. 0.09% 7,550 $201K New
COMP Compass Inc. Class A 0.05% 10,030 $106K No change

Portfolio Sells Q3 2025 → Q4 2025
DELL INC Sold out 0.00% −1.18
CARR Carrier Global Corp. Reduce -83.3% 0.19% −1.17
LEN Lennar Corp. Class A Reduce -69.0% 0.30% −0.95
APO Apollo Global Management Inc. Sold out 0.00% −0.88
LULU Lululemon Athletica Inc. Sold out 0.00% −0.81
HD Home Depot Inc. Sold out 0.00% −0.73
ABNB Airbnb Inc. Class A Sold out 0.00% −0.69
ARW Arrow Electronics Inc. Sold out 0.00% −0.67
OTIS Otis Worldwide Corp. Sold out 0.00% −0.61
LII Lennox International Inc. Reduce -79.1% 0.13% −0.60
H Hyatt Hotels Corp. Class A Reduce -42.6% 0.94% −0.58
A Agilent Technologies Inc. Sold out 0.00% −0.52
MDLZ Mondelez International Inc. Class A Reduce -68.8% 0.17% −0.49
ZTS Zoetis Inc. Reduce -15.1% 1.10% −0.48
META Meta Platforms Inc. Class A Reduce -15.0% 1.26% −0.47
NTRA Natera Inc. Sold out 0.00% −0.46
TKR Timken Co. Sold out 0.00% −0.46
LIN Linde PLC Sold out 0.00% −0.45
ETN Eaton Corp. PLC Reduce -8.8% 1.20% −0.42
PNR Pentair PLC Sold out 0.00% −0.41
BSX Boston Scientific Corp. Sold out 0.00% −0.41
DHI D.R. Horton Inc. Reduce -48.7% 0.28% −0.39
RBC RBC Bearings Inc. Reduce -79.5% 0.11% −0.39
VRT Vertiv Holdings Co. Class A Reduce -40.3% 0.60% −0.38
FANG Diamondback Energy Inc. Sold out 0.00% −0.33
FCX Freeport-McMoran Inc. Sold out 0.00% −0.28
CRH CRH PLC-Sponsored ADR Sold out 0.00% −0.28
AMT American Tower Corp. Sold out 0.00% −0.28
VRTX Vertex Pharmaceuticals Inc. Sold out 0.00% −0.28
TRMB Trimble Inc. Sold out 0.00% −0.25
APD Air Products & Chemicals Inc. Sold out 0.00% −0.22
CHD Church & Dwight Co. Inc. Reduce -1.0% 1.94% −0.21
INVH Invitation Homes Inc. Reduce -20.4% 0.53% −0.21
SYY Sysco Corp. Reduce -0.2% 1.18% −0.21
BMY Bristol-Myers Squibb Co. Reduce -43.9% 0.35% −0.20
TTWO Take-Two Interactive Softwre Sold out 0.00% −0.18
HEI Heico Corp. Sold out 0.00% −0.18
IBM Intl Business Machines Corp. Reduce -13.1% 1.20% −0.18
COIN Coinbase Global Inc. Class A Sold out 0.00% −0.17
APA Apa Corp. Sold out 0.00% −0.17
IBKR Interactive Brokers Gro Class A Sold out 0.00% −0.17
CELH Celsius Holdings Inc. Sold out 0.00% −0.17
NCLH Norwegian Cruise Line Holdin Reduce -30.8% 0.24% −0.16
AMD Advanced Micro Devices Sold out 0.00% −0.16
LEU Centrus Energy Corp. Class A Reduce -29.4% 0.17% −0.15
PWR Quanta Services Inc. Reduce -3.0% 2.31% −0.15
CCL Carnival Corp. Reduce -48.1% 0.15% −0.14
K Kellanova Sold out 0.00% −0.12
CNI Canadian Natl Railway Co. Sold out 0.00% −0.11
BX Blackstone Inc. Sold out 0.00% −0.10

Portfolio Buys Q3 2025 → Q4 2025
GS Goldman Sachs Group Inc. Add +183.2% 1.63% +1.09
COF Capital One Financial Corp. Add +115.9% 1.59% +0.91
GEV GE Vernova Inc. Add +71.6% 1.92% +0.81
DELL Dell Technologies -C New 0.78% +0.78
INCY Incyte Corp. New 0.75% +0.75
SYK Stryker Corp. New 0.66% +0.66
ABT Abbott Laboratories Add +128.1% 1.29% +0.66
J Jacobs Solutions Inc. New 0.65% +0.65
GILD Gilead Sciences Inc. New 0.63% +0.63
V Visa Inc. Class A Add +72.6% 1.43% +0.58
EQT Eqt Corp. New 0.54% +0.54
BLK BlackRock Inc. New 0.53% +0.53
VEEV Veeva Systems Inc. Class A Add +274.0% 0.82% +0.51
MRK Merck & Co. Inc. Add +35.4% 1.35% +0.51
IQV Iqvia Holdings Inc. New 0.50% +0.50
CRH CRH PLC New 0.49% +0.49
PODD Insulet Corp. New 0.45% +0.45
KMB Kimberly-Clark Corp. Add +124.4% 0.99% +0.42
ROP Roper Technologies Inc. New 0.41% +0.41
MRVL Marvell Technology Inc. New 0.41% +0.41
IDXX Idexx Laboratories Inc. New 0.36% +0.36
COST Costco Wholesale Corp. Add +358.5% 0.46% +0.35
CAT Caterpillar Inc. New 0.33% +0.33
RCL Royal Caribbean Cruises Ltd. New 0.33% +0.33
EOG EOG Resources Inc. Add +246.3% 0.48% +0.33
MCD McDonald's Corp. Add +51.4% 1.04% +0.32
AWK American Water Works Co. Inc. Add +49.4% 1.17% +0.29
AMGN Amgen Inc. Add +30.7% 0.93% +0.29
SU Suncor Energy Inc. New 0.27% +0.27
EME Emcor Group Inc. New 0.26% +0.26
PG The Procter & Gamble Co. Add +60.5% 0.84% +0.25
HOOD Robinhood Markets Inc. Class A New 0.25% +0.25
MHK Mohawk Industries Inc. New 0.25% +0.25
NFLX Netflix Inc. Add +68.0% 1.14% +0.23
SHW The Sherwin-Williams Co. New 0.22% +0.22
AES AES Corp. New 0.20% +0.20
MOD Modine Manufacturing Co. New 0.20% +0.20
UBER Uber Technologies Inc. Add +47.3% 1.37% +0.20
EXE Expand Energy Corp. New 0.19% +0.19
PB Prosperity Bancshares Inc. Add +50.2% 0.56% +0.19
WFC Wells Fargo & Co. Add +25.3% 0.74% +0.18
CNQ Canadian Natural Resources New 0.18% +0.18
REGN Regeneron Pharmaceuticals New 0.17% +0.17
AVGO Broadcom Inc. Add +11.6% 1.63% +0.17
MSFT Microsoft Corp. Add +18.4% 3.16% +0.16
NTR Nutrien Ltd. New 0.14% +0.14
FSLR First Solar Inc. New 0.12% +0.12
CRWD CrowdStrike Holdings Inc. Class A New 0.12% +0.12
BCS Barclays PLC-Spons ADR New 0.10% +0.10
NVDA Nvidia Corp. Add +21.8% 0.72% +0.10

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 134$256.9MGOOGL, AAPL, URI, PWR, GEV
Q1 2026 143$236.6MGOOGL, AAPL, URI, JNJ, PWR
Q4 2025 144$228.6MGOOGL, AAPL, MSFT, URI, JNJ
Q3 2025 146$217.7MGOOGL, AAPL, URI, MSFT, AMZN
Q2 2025 147$210.5MGOOGL, AAPL, URI, MSFT, CHD
Q1 2025 146$196.9MAAPL, GOOGL, CHD, URI, JNJ
Q4 2024 143$196.5MAAPL, GOOGL, CHD, URI, MSFT
Q3 2024 158$213.1MAAPL, GOOGL, CHD, URI, MSFT
Q2 2024 164$208.2MAAPL, GOOGL, MSFT, CHD, URI
Q1 2024 158$203.8MCHD, GOOGL, MSFT, AAPL, URI