New England Research & Management, Inc.

CHICAGO, IL · CIK 1596077 · 13F filing filed 2025-07-09

SEC-registered investment adviser since 1979 · corporation

Assets managed$337.1m
Staff4 · 3 in investment roles
Main clients (by assets)High net worth individuals 90%, Individuals 8%, Pension plans 2%
Websitenerminc.com
Form ADV · 2026-08-25SEC adviser record

$210.5m reported value +6.9% vs Q1 2025

147positions

27.2%in top 10

30 new 41 added 50 reduced 29 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ALPHABET INC CAP STK CL A GOOGL	GOOGL	49,015	$8.6m4.10%	4.10%	Reduced -75	-75 -0.1%
2	APPLE INC COM AAPL	AAPL	35,886	$7.4m3.50%	3.50%	Added +1.4k	+1,384 4.0%
3	UNITED RENTALS INC COM URI	URI	8,785	$6.6m3.14%	3.14%	Added +40	+40 0.5%
4	MICROSOFT CORP COM MSFT	MSFT	12,630	$6.3m2.98%	2.98%	Added +242	+242 1.9%
5	CHURCH & DWIGHT CO INC COM CHD	CHD	54,600	$5.2m2.49%	2.49%	Reduced -1.4k	-1,400 -2.5%
6	AMAZON COM INC COM AMZN	AMZN	23,879	$5.2m2.49%	2.49%	Added +1.1k	+1,116 4.9%
7	GOLDMAN SACHS GROUP INC COM GS	GS	6,794	$4.8m2.28%	2.28%	Reduced -1.2k	-1,229 -15.3%
8	QUANTA SVCS INC COM PWR	PWR	12,481	$4.7m2.24%	2.24%	Reduced -90	-90 -0.7%
9	JOHNSON & JOHNSON COM JNJ	JNJ	29,763	$4.5m2.16%	2.16%	Added +15	+15 0.1%
10	ZOETIS INC CL A ZTS	ZTS	24,788	$3.9m1.84%	1.84%	Added +170	+170 0.7%
11	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	7,870	$3.8m1.82%	1.82%	Added +25	+25 0.3%
12	ABBVIE INC COM ABBV	ABBV	20,441	$3.8m1.80%	1.80%	Added +1.3k	+1,335 7.0%
13	CSX CORP COM CSX	CSX	114,810	$3.7m1.78%	1.78%	Added +700	+700 0.6%
14	META PLATFORMS INC CL A META	META	4,830	$3.6m1.69%	1.69%	Added +950	+950 24.5%
15	DELL INC COM COM		27,835	$3.4m1.62%	1.62%	Reduced -5.7k	-5,665 -16.9%
16	CARRIER GLOBAL CORPORATION COM CARR	CARR	44,575	$3.3m1.55%	1.55%	Added +75	+75 0.2%
17	HYATT HOTELS CORP COM CL A H	H	23,271	$3.2m1.54%	1.54%	Reduced -3.4k	-3,353 -12.6%
18	HOME DEPOT INC COM HD	HD	7,771	$2.8m1.35%	1.35%	Added +737	+737 10.5%
19	SYSCO CORP COM SYY	SYY	36,949	$2.8m1.33%	1.33%	Reduced -4.5k	-4,544 -10.9%
20	FORTINET INC COM FTNT	FTNT	25,780	$2.7m1.29%	1.29%	New
21	BROADCOM INC COM AVGO	AVGO	9,735	$2.7m1.27%	1.27%	Reduced -54	-54 -0.6%
22	TOLL BROTHERS INC COM TOL	TOL	23,010	$2.6m1.25%	1.25%	Unchanged
23	UNITEDHEALTH GROUP INC COM UNH	UNH	8,120	$2.5m1.20%	1.20%	New
24	EATON CORP PLC SHS ETN	ETN	7,044	$2.5m1.19%	1.19%	Added +2.1k	+2,100 42.5%
25	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	8,070	$2.4m1.13%	1.13%	Unchanged
26	MORGAN STANLEY COM NEW MS	MS	15,519	$2.2m1.04%	1.04%	Reduced -175	-175 -1.1%
27	ELI LILLY & CO COM LLY	LLY	2,801	$2.2m1.04%	1.04%	Added +90	+90 3.3%
28	EXXON MOBIL CORP COM XOM	XOM	19,852	$2.1m1.02%	1.02%	Added +1.8k	+1,793 9.9%
29	UBER TECHNOLOGIES INC COM UBER	UBER	22,069	$2.1m0.98%	0.98%	Reduced -21.6k	-21,569 -49.4%
30	NEXTERA ENERGY INC COM NEE	NEE	28,628	$2.0m0.94%	0.94%	Added +815	+815 2.9%
31	ALPHABET INC CAP STK CL C GOOG	GOOG	10,591	$1.9m0.89%	0.89%	Added +200	+200 1.9%
32	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	13,500	$1.9m0.89%	0.89%	New
33	NETFLIX INC COM NFLX	NFLX	1,361	$1.8m0.87%	0.87%	Reduced -761	-761 -35.9%
34	LENNOX INTL INC COM LII	LII	3,170	$1.8m0.86%	0.86%	Reduced -10	-10 -0.3%
35	MERCK & CO INC COM MRK	MRK	22,405	$1.8m0.84%	0.84%	Reduced -2.6k	-2,650 -10.6%
36	VERTIV HOLDINGS CO COM CL A VRT	VRT	12,780	$1.6m0.78%	0.78%	Added +2.5k	+2,537 24.8%
37	INGERSOLL RAND INC COM IR	IR	19,612	$1.6m0.77%	0.77%	Reduced -70	-70 -0.4%
38	AGILENT TECHNOLOGIES INC COM A	A	13,775	$1.6m0.77%	0.77%	Reduced -450	-450 -3.2%
39	COCA COLA CO COM KO	KO	22,858	$1.6m0.77%	0.77%	Added +159	+159 0.7%
40	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	5,525	$1.6m0.75%	0.75%	Reduced -125	-125 -2.2%
41	TERADYNE INC COM TER	TER	17,210	$1.5m0.74%	0.74%	New
42	VISA INC COM CL A V	V	4,354	$1.5m0.73%	0.73%	Reduced -878	-878 -16.8%
43	CANADIAN PACIFIC KANSAS CITY COM CP	CP	19,193	$1.5m0.72%	0.72%	Reduced -70	-70 -0.4%
44	INVITATION HOMES INC COM INVH	INVH	46,214	$1.5m0.72%	0.72%	Added +400	+400 0.9%
45	MCDONALDS CORP COM MCD	MCD	5,159	$1.5m0.72%	0.72%	Added +130	+130 2.6%
46	UNION PAC CORP COM UNP	UNP	6,443	$1.5m0.70%	0.70%	Unchanged
47	APOLLO GLOBAL MGMT INC COM APO	APO	10,100	$1.4m0.68%	0.68%	New
48	ABBOTT LABS COM ABT	ABT	10,334	$1.4m0.67%	0.67%	Reduced -8.6k	-8,550 -45.3%
49	TRUIST FINL CORP COM TFC	TFC	32,075	$1.4m0.66%	0.66%	Reduced -709	-709 -2.2%
50	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	29,569	$1.4m0.65%	0.65%	Reduced -700	-700 -2.3%
51	WASTE MGMT INC DEL COM WM	WM	5,985	$1.4m0.65%	0.65%	Reduced -878	-878 -12.8%
52	PALO ALTO NETWORKS INC COM PANW	PANW	6,668	$1.4m0.65%	0.65%	Added +4.4k	+4,377 191.1%
53	DELTA AIR LINES INC DEL COM NEW DAL	DAL	27,275	$1.3m0.64%	0.64%	Reduced -100	-100 -0.4%
54	PROCTER AND GAMBLE CO COM PG	PG	8,420	$1.3m0.64%	0.64%	Added +371	+371 4.6%
55	LENNAR CORP CL A LEN	LEN	12,045	$1.3m0.63%	0.63%	Reduced -332	-332 -2.7%
56	AMGEN INC COM AMGN	AMGN	4,620	$1.3m0.61%	0.61%	Added +2.1k	+2,077 81.7%
57	KIMBERLY-CLARK CORP COM KMB	KMB	9,949	$1.3m0.61%	0.61%	Reduced -1.2k	-1,200 -10.8%
58	UNITED PARCEL SERVICE INC CL B UPS	UPS	12,660	$1.3m0.61%	0.61%	Reduced -510	-510 -3.9%
59	ASTERA LABS INC COM ALAB	ALAB	13,825	$1.2m0.59%	0.59%	New
60	NIKE INC CL B NKE	NKE	17,475	$1.2m0.59%	0.59%	Unchanged
61	CHUBB LIMITED COM CB	CB	4,282	$1.2m0.59%	0.59%	New
62	PFIZER INC COM PFE	PFE	48,726	$1.2m0.56%	0.56%	Reduced -6.9k	-6,901 -12.4%
63	TRIMBLE INC COM TRMB	TRMB	15,340	$1.2m0.55%	0.55%	Reduced -300	-300 -1.9%
64	NVIDIA CORPORATION COM NVDA	NVDA	7,253	$1.1m0.54%	0.54%	Added +1.1k	+1,065 17.2%
65	BOSTON SCIENTIFIC CORP COM BSX	BSX	10,550	$1.1m0.54%	0.54%	New
66	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		15,950	$1.1m0.53%	0.53%	Unchanged
67	WASHINGTON TR BANCORP INC COM WASH	WASH	39,229	$1.1m0.53%	0.53%	Unchanged
68	LINDE PLC SHS LIN	LIN	2,330	$1.1m0.52%	0.52%	New
69	GE AEROSPACE COM NEW GE	GE	4,222	$1.1m0.52%	0.52%	Added +975	+975 30.0%
70	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	2,548	$1.0m0.49%	0.49%	Added +567	+567 28.6%
71	MASCO CORP COM MAS	MAS	15,850	$1.0m0.48%	0.48%	Reduced -2.3k	-2,325 -12.8%
72	MARRIOTT INTL INC NEW CL A MAR	MAR	3,725	$1.0m0.48%	0.48%	Reduced -45	-45 -1.2%
73	STARBUCKS CORP COM SBUX	SBUX	11,087	$1.0m0.48%	0.48%	Added +5.7k	+5,700 105.8%
74	TIMKEN CO COM TKR	TKR	13,350	$969.0k0.46%	0.46%	Reduced -625	-625 -4.5%
75	MASTERCARD INCORPORATED CL A MA	MA	1,715	$964.0k0.46%	0.46%	Added +10	+10 0.6%
76	MOELIS & CO CL A MC	MC	15,375	$958.0k0.46%	0.46%	Added +250	+250 1.6%
77	AIRBNB INC COM CL A ABNB	ABNB	7,000	$926.0k0.44%	0.44%	New
78	MONDELEZ INTL INC CL A MDLZ	MDLZ	13,627	$919.0k0.44%	0.44%	Added +370	+370 2.8%
79	FISERV INC COM FISV	FISV	5,195	$896.0k0.43%	0.43%	Added +4.1k	+4,074 363.4%
80	TRANSDIGM GROUP INC COM TDG	TDG	575	$874.0k0.42%	0.42%	Reduced -230	-230 -28.6%
81	INDEPENDENT BK CORP MASS COM INDB	INDB	13,765	$866.0k0.41%	0.41%	Reduced -126	-126 -0.9%
82	ROYAL BK CDA COM RY	RY	6,300	$829.0k0.39%	0.39%	New
83	PENTAIR PLC SHS PNR	PNR	8,050	$826.0k0.39%	0.39%	Reduced -700	-700 -8.0%
84	MARVELL TECHNOLOGY INC COM MRVL	MRVL	10,425	$807.0k0.38%	0.38%	New
85	AAR CORP COM AIR	AIR	11,325	$779.0k0.37%	0.37%	Reduced -1.8k	-1,825 -13.9%
86	LAM RESEARCH CORP COM COM		7,850	$764.0k0.36%	0.36%	Added +1.7k	+1,683 27.3%
87	COLGATE PALMOLIVE CO COM CL	CL	8,288	$753.0k0.36%	0.36%	Unchanged
88	JACOBS SOLUTIONS INC COM J	J	5,515	$725.0k0.34%	0.34%	Added +65	+65 1.2%
89	AMERICAN TOWER CORP NEW COM AMT	AMT	3,150	$696.0k0.33%	0.33%	New
90	CITIZENS FINL GROUP INC COM CFG	CFG	14,837	$664.0k0.32%	0.32%	Unchanged
91	PEPSICO INC COM PEP	PEP	4,976	$657.0k0.31%	0.31%	Reduced -395	-395 -7.3%
92	DATADOG INC CL A COM DDOG	DDOG	4,800	$645.0k0.31%	0.31%	Unchanged
93	SOUTHWEST AIRLS CO COM LUV	LUV	19,757	$641.0k0.30%	0.30%	Reduced -9.9k	-9,950 -33.5%
94	BALL CORP COM BALL	BALL	11,270	$632.0k0.30%	0.30%	New
95	EMERSON ELEC CO COM EMR	EMR	4,708	$628.0k0.30%	0.30%	Added +818	+818 21.0%
96	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	761	$610.0k0.29%	0.29%	Added +1	+1 0.1%
97	MODINE MFG CO COM MOD	MOD	6,175	$608.0k0.29%	0.29%	New
98	CISCO SYS INC COM CSCO	CSCO	8,740	$606.0k0.29%	0.29%	Reduced -1.9k	-1,925 -18.1%
99	MEDTRONIC PLC SHS MDT	MDT	6,788	$592.0k0.28%	0.28%	Reduced -3.2k	-3,183 -31.9%
100	AIR PRODS & CHEMS INC COM APD	APD	2,025	$571.0k0.27%	0.27%	New

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
BLACKROCK INC BLK	BLK	3,866	$3.7m3.9k shares
CROWDSTRIKE HLDGS INC CRWD	CRWD	4,058	$1.4m4.1k shares
COMERICA INC CMA	CMA	19,682	$1.2m19.7k shares
MARTIN MARIETTA MATLS INC MLM	MLM	2,355	$1.1m2.4k shares
PACCAR INC PCAR	PCAR	10,350	$1.0m10.3k shares
AMPHENOL CORP APH	APH	14,075	$923.0k14.1k shares
WELLS FARGO CO NEW WFC	WFC	10,610	$762.0k10.6k shares
ORACLE CORP ORCL	ORCL	5,405	$756.0k5.4k shares
FLUOR CORP NEW FLR	FLR	20,650	$740.0k20.6k shares
ROYAL CARIBBEAN GROUP RCL	RCL	3,500	$719.0k3.5k shares
COSTCO WHSL CORP NEW COST	COST	750	$709.0k750 shares
THE TRADE DESK INC TTD	TTD	12,350	$676.0k12.3k shares
TAKE-TWO INTERACTIVE SOFTWAR TTWO	TTWO	3,200	$663.0k3.2k shares
VALERO ENERGY CORP VLO	VLO	4,925	$650.0k4.9k shares
INTERACTIVE BROKERS GROUP IN IBKR	IBKR	13,000	$538.0k13.0k shares
CAMECO CORP CCJ	CCJ	9,575	$394.0k9.6k shares
CELANESE CORP DEL CE	CE	6,925	$393.0k6.9k shares
ULTA BEAUTY INC ULTA	ULTA	1,045	$383.0k1.0k shares
BellRing Brands, Inc.		5,050	$376.0k5.0k shares
ENERSYS ENS	ENS	3,925	$359.0k3.9k shares
BECTON DICKINSON & CO BDX	BDX	1,545	$354.0k1.5k shares
SALESFORCE INC CRM	CRM	1,230	$330.0k1.2k shares
DYNATRACE INC DT	DT	6,575	$310.0k6.6k shares
LULULEMON ATHLETICA INC LULU	LULU	1,062	$301.0k1.1k shares
COLUMBUS MCKINNON CORP N Y CMCO	CMCO	14,644	$248.0k14.6k shares