# EDGAR Filing Document

**Accession Number:** 0001259261
**File Stem:** 0001259261-23-000002
**Filing Date:** 2023-2
**Character Count:** 13512
**Document Hash:** 04286e0ff62332dc5788f9e525950ae0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001259261-23-000002.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001259261-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BOSTON RESEARCH & MANAGEMENT INC
- **CENTRAL INDEX KEY:** 0001259261
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10522
- **FILM NUMBER:** 23617907

**BUSINESS ADDRESS:**
- **STREET 1:** 40 BEACH STREET
- **STREET 2:** SUITE 200
- **CITY:** MANCHESTER
- **STATE:** MA
- **ZIP:** 01944
- **BUSINESS PHONE:** 978-526-9700

**MAIL ADDRESS:**
- **STREET 1:** 40 BEACH STREET
- **STREET 2:** SUITE 200
- **CITY:** MANCHESTER
- **STATE:** MA
- **ZIP:** 01944

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** BOSTON RESEARCH  MANAGEMENT INC<br>**Address:** 40 BEACH STREET<br>SUITE 200<br>MANCHESTER, MA 01944

**Form 13F File Number:** 028-10522

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Daniel F. Tortola CFA<br>**Title:** CIO<br>**Phone:** 9785269700

**Signature, Place, and Date of Signing:**

Daniel F. Tortola CFA  Manchester, MA  02-13-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 106

**Form 13F Information Table Value Total:** $323184

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Co | COM | 88579Y101 |  | 534 | 4460 | SH |  | SOLE |  | 0 | 0 | 4460 |
| AMEX Energy Sector SPDR | COM | 81369y506 |  | 4009 | 45840 | SH |  | SOLE |  | 0 | 0 | 45840 |
| AbbVie Inc. | COM | 00287y109 |  | 8681 | 53718 | SH |  | SOLE |  | 0 | 0 | 53718 |
| Abbott Laboratories | COM | 002824100 |  | 6478 | 59004 | SH |  | SOLE |  | 0 | 0 | 59004 |
| Accenture PLC | COM | G1151C101 |  | 4319 | 16189 | SH |  | SOLE |  | 0 | 0 | 16189 |
| Agilent Technologies Inc. | COM | 00846u101 |  | 281 | 1879 | SH |  | SOLE |  | 0 | 0 | 1879 |
| Alphabet Inc. - Class A | COM | 02079k305 |  | 4678 | 53025 | SH |  | SOLE |  | 0 | 0 | 53025 |
| Alphabet Inc. - Class C | COM | 02079k107 |  | 1048 | 11820 | SH |  | SOLE |  | 0 | 0 | 11820 |
| Amazon.com Inc. | COM | 023135106 |  | 2257 | 26871 | SH |  | SOLE |  | 0 | 0 | 26871 |
| Amgen Inc. | COM | 031162100 |  | 311 | 1187 | SH |  | SOLE |  | 0 | 0 | 1187 |
| Apple Inc. | COM | 037833100 |  | 7497 | 57706 | SH |  | SOLE |  | 0 | 0 | 57706 |
| Archer Daniels Midland Com | COM | 039483102 |  | 267 | 2880 | SH |  | SOLE |  | 0 | 0 | 2880 |
| Automatic Data Processing Inc | COM | 053015103 |  | 433 | 1815 | SH |  | SOLE |  | 0 | 0 | 1815 |
| Bank of New York Mellon Corp. | COM | 064058100 |  | 3957 | 86940 | SH |  | SOLE |  | 0 | 0 | 86940 |
| Berkshire Hathaway Inc. Class | COM | 084670702 |  | 6173 | 19986 | SH |  | SOLE |  | 0 | 0 | 19986 |
| Boeing Co | COM | 097023105 |  | 255 | 1339 | SH |  | SOLE |  | 0 | 0 | 1339 |
| Boston Properties Inc. | COM | 101121101 |  | 327 | 4850 | SH |  | SOLE |  | 0 | 0 | 4850 |
| Bristol-Myers Squibb Company | COM | 110122108 |  | 504 | 7010 | SH |  | SOLE |  | 0 | 0 | 7010 |
| CH Robinson Worldwide Inc | COM | 12541W209 |  | 4467 | 48789 | SH |  | SOLE |  | 0 | 0 | 48789 |
| CVS Health Corp | COM | 126650100 |  | 5678 | 60932 | SH |  | SOLE |  | 0 | 0 | 60932 |
| Caterpillar | COM | 149123101 |  | 848 | 3542 | SH |  | SOLE |  | 0 | 0 | 3542 |
| Chevron Corp | COM | 166764100 |  | 1612 | 8983 | SH |  | SOLE |  | 0 | 0 | 8983 |
| Cintas Corporation | COM | 172908105 |  | 2497 | 5530 | SH |  | SOLE |  | 0 | 0 | 5530 |
| Cisco Systems Inc. | COM | 17275r102 |  | 6551 | 137521 | SH |  | SOLE |  | 0 | 0 | 137521 |
| Coca-Cola Company | COM | 191216100 |  | 4849 | 76245 | SH |  | SOLE |  | 0 | 0 | 76245 |
| Colgate-Palmolive Company | COM | 194162103 |  | 4805 | 60986 | SH |  | SOLE |  | 0 | 0 | 60986 |
| Comcast Corp Cl A Vtg | COM | 20030N101 |  | 4073 | 116488 | SH |  | SOLE |  | 0 | 0 | 116488 |
| ConocoPhillips | COM | 20825C104 |  | 3281 | 27809 | SH |  | SOLE |  | 0 | 0 | 27809 |
| D.R. Horton Inc. | COM | 23331a109 |  | 3675 | 41234 | SH |  | SOLE |  | 0 | 0 | 41234 |
| Danaher Corp. | COM | 235851102 |  | 551 | 2078 | SH |  | SOLE |  | 0 | 0 | 2078 |
| Duke Energy Corp. | COM | 26441c204 |  | 3904 | 37913 | SH |  | SOLE |  | 0 | 0 | 37913 |
| Eli Lilly  Co | COM | 532457108 |  | 1621 | 4433 | SH |  | SOLE |  | 0 | 0 | 4433 |
| Emerson Electric Co | COM | 291011104 |  | 489 | 5100 | SH |  | SOLE |  | 0 | 0 | 5100 |
| Exxon Mobil Corp. | COM | 30231g102 |  | 4977 | 45127 | SH |  | SOLE |  | 0 | 0 | 45127 |
| Fastenal Co | COM | 311900104 |  | 6894 | 145709 | SH |  | SOLE |  | 0 | 0 | 145709 |
| General Dynamics Corporation | COM | 369550108 |  | 211 | 854 | SH |  | SOLE |  | 0 | 0 | 854 |
| General Mills Inc Com | COM | 370334104 |  | 8247 | 98363 | SH |  | SOLE |  | 0 | 0 | 98363 |
| Genuine Parts | COM | 372460105 |  | 414 | 2390 | SH |  | SOLE |  | 0 | 0 | 2390 |
| HP Inc. | COM | 40434l105 |  | 238 | 8880 | SH |  | SOLE |  | 0 | 0 | 8880 |
| Home Depot Inc. | COM | 437076102 |  | 2976 | 9425 | SH |  | SOLE |  | 0 | 0 | 9425 |
| Illinois Tool Works | COM | 452308109 |  | 571 | 2594 | SH |  | SOLE |  | 0 | 0 | 2594 |
| Intel Corp | COM | 458140100 |  | 2637 | 99803 | SH |  | SOLE |  | 0 | 0 | 99803 |
| Intl Business Machines Corp | COM | 459200101 |  | 633 | 4496 | SH |  | SOLE |  | 0 | 0 | 4496 |
| Invesco QQQ Trust Series 1 | COM | 46090e103 |  | 213 | 803 | SH |  | SOLE |  | 0 | 0 | 803 |
| J.P. Morgan Chase  Co. | COM | 46625h100 |  | 4841 | 36101 | SH |  | SOLE |  | 0 | 0 | 36101 |
| Johnson  Johnson | COM | 478160104 |  | 1730 | 9795 | SH |  | SOLE |  | 0 | 0 | 9795 |
| Kimberly-Clark Corp | COM | 494368103 |  | 418 | 3085 | SH |  | SOLE |  | 0 | 0 | 3085 |
| Laboratory CP Amer Hldgs | COM | 50540R409 |  | 5216 | 22152 | SH |  | SOLE |  | 0 | 0 | 22152 |
| Linde PLC | COM | g5494j103 |  | 5625 | 17246 | SH |  | SOLE |  | 0 | 0 | 17246 |
| Lockheed Martin Corp | COM | 539830109 |  | 4956 | 10189 | SH |  | SOLE |  | 0 | 0 | 10189 |
| Magna International Inc. Cl A | COM | 559222401 |  | 2393 | 42610 | SH |  | SOLE |  | 0 | 0 | 42610 |
| Marsh  McLennan Companies In | COM | 571748102 |  | 436 | 2637 | SH |  | SOLE |  | 0 | 0 | 2637 |
| Mastercard Inc. | COM | 57636q104 |  | 7640 | 21973 | SH |  | SOLE |  | 0 | 0 | 21973 |
| McDonald's Corp | COM | 580135101 |  | 6319 | 23980 | SH |  | SOLE |  | 0 | 0 | 23980 |
| Medtronic Plc | COM | G5960L103 |  | 3745 | 48195 | SH |  | SOLE |  | 0 | 0 | 48195 |
| Merck  Co. Inc. | COM | 58933Y105 |  | 6800 | 61294 | SH |  | SOLE |  | 0 | 0 | 61294 |
| Microsoft Corp | COM | 594918104 |  | 12046 | 50231 | SH |  | SOLE |  | 0 | 0 | 50231 |
| Nextera Energy Inc. | COM | 65339F101 |  | 4884 | 58426 | SH |  | SOLE |  | 0 | 0 | 58426 |
| Nucor Corporation | COM | 670346105 |  | 255 | 1936 | SH |  | SOLE |  | 0 | 0 | 1936 |
| Omnicom Group Inc Com | COM | 681919106 |  | 4032 | 49438 | SH |  | SOLE |  | 0 | 0 | 49438 |
| Oracle Corp. | COM | 68389X105 |  | 840 | 10278 | SH |  | SOLE |  | 0 | 0 | 10278 |
| PPG Industries | COM | 693506107 |  | 467 | 3721 | SH |  | SOLE |  | 0 | 0 | 3721 |
| Paychex Inc. | COM | 704326107 |  | 886 | 7675 | SH |  | SOLE |  | 0 | 0 | 7675 |
| Pepsi Co Inc | COM | 713448108 |  | 5193 | 28746 | SH |  | SOLE |  | 0 | 0 | 28746 |
| Pfizer Inc. | COM | 717081103 |  | 1224 | 23905 | SH |  | SOLE |  | 0 | 0 | 23905 |
| Procter  Gamble Co | COM | 742718109 |  | 5874 | 38760 | SH |  | SOLE |  | 0 | 0 | 38760 |
| Qorvo Inc. | COM | 74736K101 |  | 2725 | 30065 | SH |  | SOLE |  | 0 | 0 | 30065 |
| Qualcomm Inc. | COM | 747525103 |  | 327 | 2982 | SH |  | SOLE |  | 0 | 0 | 2982 |
| SPDR DJIA ETF Trust | COM | 78467X109 |  | 221 | 670 | SH |  | SOLE |  | 0 | 0 | 670 |
| SPDR S 500 ETF | COM | 78462F103 |  | 2733 | 7148 | SH |  | SOLE |  | 0 | 0 | 7148 |
| Shell PLC | COM | 780259305 |  | 378 | 6644 | SH |  | SOLE |  | 0 | 0 | 6644 |
| Snap-On Inc. | COM | 833034101 |  | 4047 | 17715 | SH |  | SOLE |  | 0 | 0 | 17715 |
| Southern Co | COM | 842587107 |  | 340 | 4773 | SH |  | SOLE |  | 0 | 0 | 4773 |
| Stryker Corp | COM | 863667101 |  | 1064 | 4354 | SH |  | SOLE |  | 0 | 0 | 4354 |
| Sysco Corp | COM | 871829107 |  | 626 | 8190 | SH |  | SOLE |  | 0 | 0 | 8190 |
| Thermo Fisher Scientific | COM | 883556102 |  | 4473 | 8123 | SH |  | SOLE |  | 0 | 0 | 8123 |
| Tractor Supply Co | COM | 892356106 |  | 8601 | 38236 | SH |  | SOLE |  | 0 | 0 | 38236 |
| US Bancorp | COM | 902973304 |  | 1989 | 45626 | SH |  | SOLE |  | 0 | 0 | 45626 |
| United Parcel Services | COM | 911312106 |  | 5680 | 32678 | SH |  | SOLE |  | 0 | 0 | 32678 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 392 | 740 | SH |  | SOLE |  | 0 | 0 | 740 |
| VanEck Vectors Biotech ETF | COM | 92189F726 |  | 2038 | 12761 | SH |  | SOLE |  | 0 | 0 | 12761 |
| Vanguard Developed Markets ETF | COM | 921943858 |  | 888 | 21165 | SH |  | SOLE |  | 0 | 0 | 21165 |
| Vanguard Emerging Markets ETF | COM | 922042858 |  | 601 | 15429 | SH |  | SOLE |  | 0 | 0 | 15429 |
| Vanguard FTSE All-World Ex-US | COM | 922042775 |  | 1109 | 22134 | SH |  | SOLE |  | 0 | 0 | 22134 |
| Vanguard Small-Cap ETF | COM | 922908751 |  | 2119 | 11550 | SH |  | SOLE |  | 0 | 0 | 11550 |
| Vanguard Total Stock Market ET | COM | 922908769 |  | 2366 | 12380 | SH |  | SOLE |  | 0 | 0 | 12380 |
| Verizon Communications | COM | 92343v104 |  | 3155 | 80090 | SH |  | SOLE |  | 0 | 0 | 80090 |
| Wal-Mart Stores | COM | 931142103 |  | 6591 | 46491 | SH |  | SOLE |  | 0 | 0 | 46491 |
| Walt Disney Co. | COM | 254687106 |  | 2774 | 31930 | SH |  | SOLE |  | 0 | 0 | 31930 |
| Waste Management Inc. | COM | 94106l109 |  | 484 | 3090 | SH |  | SOLE |  | 0 | 0 | 3090 |
| Xylem Inc. | COM | 98419m100 |  | 6974 | 63075 | SH |  | SOLE |  | 0 | 0 | 63075 |
| Yum China Holding Inc. | COM | 98850p109 |  | 237 | 4342 | SH |  | SOLE |  | 0 | 0 | 4342 |
| Yum! Brands Inc. | COM | 988498101 |  | 574 | 4483 | SH |  | SOLE |  | 0 | 0 | 4483 |
| iShares Comex Gold Trust | COM | 464285204 |  | 1862 | 53838 | SH |  | SOLE |  | 0 | 0 | 53838 |
| iShares Core MSCI EAFE ETF | COM | 46432f842 |  | 3987 | 64685 | SH |  | SOLE |  | 0 | 0 | 64685 |
| iShares Core MSCI Emerging Mkt | COM | 46434g103 |  | 4524 | 96874 | SH |  | SOLE |  | 0 | 0 | 96874 |
| iShares Core S 500 ETF | COM | 464287200 |  | 13992 | 36418 | SH |  | SOLE |  | 0 | 0 | 36418 |
| iShares Core S Midcap ETF | COM | 464287507 |  | 2506 | 10361 | SH |  | SOLE |  | 0 | 0 | 10361 |
| iShares Core S SmallCap ETF | COM | 464287804 |  | 6924 | 73168 | SH |  | SOLE |  | 0 | 0 | 73168 |
| iShares Nasdaq Biotechnology I | COM | 464287556 |  | 2152 | 16396 | SH |  | SOLE |  | 0 | 0 | 16396 |
| iShares Russell 2000 Index Fun | COM | 464287655 |  | 3668 | 21039 | SH |  | SOLE |  | 0 | 0 | 21039 |
| iShares S Growth Allocation | COM | 464289867 |  | 424 | 9005 | SH |  | SOLE |  | 0 | 0 | 9005 |
| iShares Core Total US Bond Mar | COM | 464287226 |  | 454 | 4690 | SH |  | SOLE |  | 0 | 0 | 4690 |
| iShares US Preferred Stock | COM | 464288687 |  | 715 | 23446 | SH |  | SOLE |  | 0 | 0 | 23446 |
| VaneckVectors HY Muni ETF | COM | 92189h409 |  | 1635 | 32363 | SH |  | SOLE |  | 0 | 0 | 32363 |
| iShares iBoxx High Yield Corp | COM | 464288513 |  | 2094 | 28449 | SH |  | SOLE |  | 0 | 0 | 28449 |

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