BOSTON FINANCIAL MANGEMENT LLC

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CIK 1053055

13F portfolio (2024-Q4)

$3.3B

Positions

335

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2024-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2024-Q4)

Holdings

335

Top 5

23.0%

Top 10

34.3%

Effective N

53.2

HHI

0.019

This quarter

26 new · 0 exit →

By sector

Information Technology19.4%

Consumer Discretionary17.6%

Unclassified16.4%

Financials16.3%

Industrials12.4%

Health Care5.2%

Communication Services4.7%

Materials4.5%

Other3.7%

By market cap

Large ($10–200B)51.3%

Mega (>$200B)25.1%

Unknown16.7%

Mid ($2–10B)5.5%

Small ($300M–2B)1.4%

Micro (<$300M)0.0%

By region

North America83.4%

Other16.4%

Europe0.2%

Asia-Pacific0.0%

Middle East0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	16.78%	97
Commercial Services & Supplies	14.49%	18
Specialty Retail	10.21%	13
Technology Hardware & Equipment	7.99%	9
Insurance	6.70%	16
Software	6.44%	10
Distributors	6.13%	4
Software & IT Services	4.25%	8
Capital Markets	3.74%	13
Chemicals	3.58%	12
Semiconductors & Semiconductor Equipment	2.49%	9
Pharmaceuticals & Biotechnology	2.27%	16
Health Care Equipment & Supplies	1.65%	9
Diversified Telecommunication Services	1.40%	2
Real Estate Management & Development	1.38%	1
Aerospace & Defense	1.34%	6
Life Sciences Tools & Services	1.27%	4
Media & Entertainment	1.10%	3
Household Durables	1.00%	2
Equity Real Estate Investment Trusts (REITs)	0.93%	7
Banks	0.81%	10
Construction Materials	0.76%	1
Machinery	0.64%	10
Beverages	0.43%	4
Oil, Gas & Consumable Fuels	0.41%	7
Utilities	0.38%	8
Professional Services	0.36%	3
Road & Rail	0.16%	4
Electrical Equipment & Components	0.16%	3
Hotels, Restaurants & Leisure	0.15%	3
Metals & Mining	0.13%	5
Food Products	0.11%	3
Entertainment	0.09%	2
Communications Equipment	0.07%	2
Transportation Infrastructure	0.04%	2
Automobiles & Components	0.03%	1
Paper & Forest Products	0.02%	1
Tobacco	0.02%	1
Industrial Conglomerates	0.01%	1
Textiles, Apparel & Luxury Goods	0.01%	1
Diversified Consumer Services	0.01%	1
Airlines	0.01%	1
Food & Staples Retailing	0.01%	1
Health Care Providers & Services	0.01%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	AAPL	Apple Inc.	Information Technology	5.42%
2	WSO	WATSCO INC	Consumer Discretionary	4.91%
3	MSFT	MICROSOFT CORP	Information Technology	4.90%
4	FICO	FAIR ISAAC CORP	Industrials	4.27%
5	CPRT	COPART INC	Consumer Discretionary	3.47%
6	BR	BROADRIDGE FINANCIAL SOLUTIONS, INC.	Industrials	2.65%
7	V	VISA INC.	Financials	2.48%
8	MA	Mastercard Inc	Financials	2.14%
9	SHW	SHERWIN WILLIAMS CO	Consumer Discretionary	2.07%
10	CME	CME GROUP INC.	Financials	2.02%

239/335 names classified · sector 83.6% of weight · industry 83.2% · mkt cap 83.3%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 47 quarters

Information TechnologyMSFT, AAPL, VRSN, TYL, IBM · other

Consumer DiscretionaryWSO, CPRT, COST, SHW, OPLN · other

Health CarePFE, JNJ, STE, ABBV, ABT · other

FinancialsV, MA, JPM, CME, WRB · other

IndustrialsFICO, BR, MCO, MMM, UNP · other

MaterialsAPD, PG, NKE, RPM, CSL · other

Communication ServicesCCOI, GOOG, LYV, VZ, NXST · other

Consumer StaplesPEP, DEO, CVS, HSY, KHC · other

Real EstateCCI, EQIX, AMT, FSV, PSA · other

EnergyXOM, CVX, SLB, DVN, PAA · other

UtilitiesNEE, ES, KMI, OKE, D · other

UnclassifiedDGRW, GSIE, SPSB, IGSB, HEDJ · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 83.6% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2024-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (218 classified)BOSTON FINANCIAL MANGEMENT LLC centroid (Mid Core)

Information TechnologyConsumer DiscretionaryFinancialsIndustrialsHealth CareCommunication ServicesMaterialsReal EstateConsumer StaplesEnergyUtilities

Style box summary for BOSTON FINANCIAL MANGEMENT LLC: centroid Mid Core. Heaviest cells: Large Growth 24.7%, Mid Core 17.1%, Mid Growth 10.3%.

Classified: 82.4% of book weight (218/328 names) · unclassified 17.6%: DGRW, IGSB, IJH, HEI.A, IVV, USIG, SPY, VGIT, VIGI, IWB +100 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 335 positions (2024-Q4) · largest first · Δ vs 2024-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	AAPLAPPLE INC	716,496	$179M	5.4%	HOLD
2	WSOWATSCO INC	342,412	$162M	4.9%	HOLD
3	MSFTMICROSOFT CORP	384,474	$162M	4.9%	HOLD
4	FICOFAIR ISAAC CORP	71,029	$141M	4.3%	HOLD
5	CPRTCOPART INC	2,001,097	$115M	3.5%	HOLD
6	BRBROADRIDGE FINL SOLUTIONS IN	387,849	$88M	2.7%	HOLD
7	VVISA INC	259,276	$82M	2.5%	HOLD
8	MAMASTERCARD INCORPORATED	134,136	$71M	2.1%	HOLD
9	SHWSHERWIN WILLIAMS CO	201,062	$68M	2.1%	HOLD
10	CMECME GROUP INC	287,243	$67M	2.0%	HOLD
11	DGRWWISDOMTREE TR	782,957	$63M	1.9%	HOLD
12	BROBROWN & BROWN INC	614,980	$63M	1.9%	HOLD
13	WRBBERKLEY W R CORP	981,162	$57M	1.7%	HOLD
14	APHAMPHENOL CORP	769,799	$53M	1.6%	HOLD
15	CCOICOGENT COMMUNICATIONS HLDGS	596,821	$46M	1.4%	TRIM −2%
16	FSVFIRSTSERVICE CORP NEW	251,439	$46M	1.4%	HOLD
17	APDAIR PRODS & CHEMS INC	155,967	$45M	1.4%	HOLD
18	IGSBISHARES TR	863,658	$45M	1.3%	HOLD
19	AMZNAMAZON COM INC	196,359	$43M	1.3%	HOLD
20	STESTERIS PLC	199,454	$41M	1.2%	HOLD
21	FERGFERGUSON ENTERPRISES INC	225,420	$39M	1.2%	HOLD
22	COSTCOSTCO WHSL CORP NEW	42,427	$39M	1.2%	HOLD
23	DHRDANAHER CORP DEL	165,168	$38M	1.1%	HOLD
24	VRSNVERISIGN INC	181,746	$38M	1.1%	ADD 7%
25	LMTLOCKHEED MARTIN CORP	74,173	$36M	1.1%	HOLD
26	IJHISHARES TR	547,686	$34M	1.0%	HOLD
27	NXSTNEXSTAR MEDIA GROUP INC	216,026	$34M	1.0%	TRIM −5%
28	CSLCARLISLE COS INC	89,962	$33M	1.0%	ADD 3%
29	AOSSMITH A O CORP	481,513	$33M	1.0%	TRIM −7%
30	HEI.AHEICO CORP NEW	175,698	$33M	1.0%	HOLD
31	WATWATERS CORP	83,707	$31M	0.9%	HOLD
32	RYANRYAN SPECIALTY HOLDINGS INC	473,916	$30M	0.9%	ADD 5%
33	GOOGALPHABET INC	156,489	$30M	0.9%	HOLD
34	ORLYOREILLY AUTOMOTIVE INC	25,058	$30M	0.9%	HOLD
35	ORIOld Republic Nat'l. Corp.	785,190	$28M	0.9%	HOLD
36	PFEPFIZER INC	1,054,464	$28M	0.8%	ADD 33%
37	AJGGALLAGHER ARTHUR J & CO	98,118	$28M	0.8%	HOLD
38	GOOGLALPHABET INC	141,507	$27M	0.8%	HOLD
39	IVVISHARES TR	44,362	$26M	0.8%	HOLD
40	USIGISHARES TR	505,032	$25M	0.8%	ADD 3%
41	EFXEQUIFAX INC	98,623	$25M	0.8%	TRIM −8%
42	CRHCRH PLC	270,768	$25M	0.8%	HOLD
43	MCOMOODYS CORP	48,996	$23M	0.7%	TRIM −5%
44	SPYSTATE STR SPDR S&P 500 ETF T	39,132	$23M	0.7%	ADD 29%
45	VGITVANGUARD SCOTTSDALE FDS	395,290	$23M	0.7%	HOLD
46	MORNMORNINGSTAR INC	65,924	$22M	0.7%	ADD 7%
47	VIGIVanguard Whitehall Int'l Div. Apprec. ETF	276,929	$22M	0.7%	HOLD
48	ROPROPER TECHNOLOGIES INC	42,465	$22M	0.7%	HOLD
49	AMTAMERICAN TOWER CORP	118,546	$22M	0.7%	TRIM −19%
50	TYLTYLER TECHNOLOGIES INC	36,160	$21M	0.6%	TRIM −17%
51	CACICACI INTL INC	51,568	$21M	0.6%	TRIM −5%
52	HDHOME DEPOT INC	49,103	$19M	0.6%	HOLD
53	JPMJPMORGAN CHASE & CO	78,707	$19M	0.6%	HOLD
54	IWBISHARES TR	58,391	$19M	0.6%	TRIM −6%
55	ROLROLLINS INC	401,169	$19M	0.6%	ADD 2%
56	MSCIMSCI INC	30,933	$19M	0.6%	ADD 2%
57	AVGOBROADCOM INC	78,476	$18M	0.5%	ADD 2%
58	DGSWISDOMTREE TR	366,668	$18M	0.5%	HOLD
59	VTIVANGUARD INDEX FDS	61,872	$18M	0.5%	ADD 102%
60	GSIEGoldman Sachs ActiveBeta Int'l Eq ETF	503,037	$17M	0.5%	HOLD
61	LBLANDBRIDGE COMPANY LLC	236,475	$15M	0.5%	NEW
62	IJRISHARES TR	123,508	$14M	0.4%	HOLD
63	CHDCHURCH & DWIGHT CO INC	132,126	$14M	0.4%	HOLD
64	BRK.BBERKSHIRE HATHAWAY INC DEL	27,747	$13M	0.4%	HOLD
65	QQQINVESCO QQQ TR	24,446	$12M	0.4%	ADD 43%
66	SHYISHARES TR	149,693	$12M	0.4%	ADD 36%
67	NDSNNORDSON CORP	56,428	$12M	0.4%	HOLD
68	METAMETA PLATFORMS INC	19,496	$11M	0.3%	HOLD
69	ITGARTNER INC	23,246	$11M	0.3%	HOLD
70	JNJJOHNSON & JOHNSON	75,280	$11M	0.3%	HOLD
71	TMOTHERMO FISHER SCIENTIFIC INC	19,879	$10M	0.3%	HOLD
72	BLKBLACKROCK INC	9,915	$10M	0.3%	NEW
73	MDYSPDR S&P MIDCAP 400 ETF TR	16,512	$9M	0.3%	ADD 2%
74	PGPROCTER AND GAMBLE CO	54,674	$9M	0.3%	HOLD
75	VIGVANGUARD SPECIALIZED FUNDS	46,801	$9M	0.3%	HOLD
76	MTDMETTLER TOLEDO INTERNATIONAL	7,429	$9M	0.3%	ADD 13%
77	ADPAUTOMATIC DATA PROCESSING IN	31,048	$9M	0.3%	HOLD
78	IEMGISHARES INC	164,576	$9M	0.3%	ADD 4%
79	MRKMERCK & CO INC	80,341	$8M	0.2%	ADD 3%
80	CRMSALESFORCE INC	23,821	$8M	0.2%	HOLD
81	IWMISHARES TR	35,891	$8M	0.2%	ADD 39%
82	ADBEADOBE INC	17,818	$8M	0.2%	TRIM −3%
83	SYKSTRYKER CORPORATION	21,609	$8M	0.2%	ADD 6%
84	CDWCDW CORP	41,663	$7M	0.2%	TRIM −77%
85	PANWPALO ALTO NETWORKS INC	39,565	$7M	0.2%	ADD 86%
86	NVDANVIDIA CORPORATION	51,682	$7M	0.2%	ADD 4%
87	NEENEXTERA ENERGY INC	95,819	$7M	0.2%	HOLD
88	ABTABBOTT LABS	60,177	$7M	0.2%	TRIM −8%
89	XOMEXXON MOBIL CORP	61,987	$7M	0.2%	ADD 20%
90	VEAVANGUARD TAX-MANAGED FDS	134,762	$6M	0.2%	TRIM −13%
91	IWFISHARES TR	15,228	$6M	0.2%	TRIM −3%
92	PEPPEPSICO INC	39,394	$6M	0.2%	HOLD
93	ABBVABBVIE INC	32,997	$6M	0.2%	ADD 4%
94	INTUINTUIT	8,977	$6M	0.2%	HOLD
95	EFAISHARES TR	73,323	$6M	0.2%	HOLD
96	CVXCHEVRON CORP NEW	38,119	$6M	0.2%	TRIM −6%
97	ROSTROSS STORES INC	35,966	$5M	0.2%	TRIM −4%
98	RTXRTX CORPORATION	44,010	$5M	0.2%	ADD 5%
99	NOWSERVICENOW INC	4,777	$5M	0.2%	HOLD
100	SCHDSCHWAB STRATEGIC TR	173,627	$5M	0.1%	ADD 199%
101	IAUISHARES GOLD TR	94,542	$5M	0.1%	HOLD
102	DEODIAGEO PLC	35,553	$5M	0.1%	TRIM −18%
103	UNHUNITEDHEALTH GROUP INC	8,660	$4M	0.1%	ADD 4%
104	LMBSFIRST TR EXCHANGE-TRADED FD	86,876	$4M	0.1%	ADD 5%
105	ECLECOLAB INC	18,004	$4M	0.1%	HOLD
106	KVUEKENVUE INC	196,906	$4M	0.1%	TRIM −2%
107	LINLINDE PLC	10,010	$4M	0.1%	ADD 5%
108	LLYELI LILLY & CO	5,320	$4M	0.1%	ADD 6%
109	GILDGILEAD SCIENCES INC	43,526	$4M	0.1%	TRIM −2%
110	CSCOCISCO SYS INC	67,514	$4M	0.1%	ADD 3%
111	SPGIS&P GLOBAL INC	7,933	$4M	0.1%	ADD 5%
112	IQDGWISDOMTREE TR	115,163	$4M	0.1%	HOLD
113	BXBLACKSTONE INC	22,674	$4M	0.1%	HOLD
114	VRSKVERISK ANALYTICS INC	13,997	$4M	0.1%	HOLD
115	VWOVANGUARD INTL EQUITY INDEX F	80,637	$4M	0.1%	TRIM −8%
116	GDXJVANECK ETF TRUST	81,500	$3M	0.1%	ADD 13%
117	EQIXEQUINIX INC	3,526	$3M	0.1%	ADD 4%
118	NEMNEWMONT CORP	85,485	$3M	0.1%	HOLD
119	BACBANK AMERICA CORP	68,548	$3M	0.1%	ADD 4%
120	MCDMCDONALDS CORP	10,326	$3M	0.1%	HOLD
121	WMTWALMART INC	30,519	$3M	0.1%	ADD 4%
122	MDLZMONDELEZ INTL INC	45,640	$3M	0.1%	HOLD
123	TJXTJX COS INC NEW	22,464	$3M	0.1%	ADD 3%
124	ITWILLINOIS TOOL WKS INC	10,670	$3M	0.1%	HOLD
125	KOCOCA COLA CO	43,447	$3M	0.1%	ADD 7%
126	TOTALENERGIES SE	49,361	$3M	0.1%	HOLD
127	IWVISHARES TR	7,964	$3M	0.1%	TRIM −11%
128	EMREMERSON ELEC CO	21,150	$3M	0.1%	HOLD
129	UNPUNION PAC CORP	11,392	$3M	0.1%	TRIM −15%
130	LAMRLAMAR ADVERTISING CO	20,947	$3M	0.1%	HOLD
131	CCICROWN CASTLE INC	27,784	$3M	0.1%	TRIM −19%
132	FASTFASTENAL CO	34,830	$3M	0.1%	ADD 3%
133	DGRSWISDOMTREE TR	48,860	$3M	0.1%	HOLD
134	ORCLORACLE CORP	15,010	$3M	0.1%	ADD 5%
135	IQSUNEW YORK LIFE INVESTMENTS ET	51,230	$2M	0.1%	TRIM −2%
136	SLVISHARES SILVER TR	92,998	$2M	0.1%	ADD 2%
137	LYVLIVE NATION ENTERTAINMENT IN	18,715	$2M	0.1%	TRIM −2%
138	VCSHVANGUARD SCOTTSDALE FDS	30,374	$2M	0.1%	TRIM −3%
139	ACNACCENTURE PLC IRELAND	6,720	$2M	0.1%	ADD 2%
140	OTISOTIS WORLDWIDE CORP	23,727	$2M	0.1%	HOLD
141	UNMUNUM GROUP	30,000	$2M	0.1%	TRIM −25%
142	XLESELECT SECTOR SPDR TR	24,864	$2M	0.1%	ADD 292%
143	VEUVANGUARD INTL EQUITY INDEX F	36,467	$2M	0.1%	ADD 3%
144	REZIShares Residential Real Estate Capped ETF	25,700	$2M	0.1%	HOLD
145	BRK.ABERKSHIRE HATHAWAY INC DEL	3	$2M	0.1%	HOLD
146	AMGNAMGEN INC	7,735	$2M	0.1%	TRIM −8%
147	QCOMQUALCOMM INC	13,096	$2M	0.1%	HOLD
148	VUGVANGUARD INDEX FDS	4,835	$2M	0.1%	HOLD
149	ISRGINTUITIVE SURGICAL INC	3,705	$2M	0.1%	TRIM −3%
150	DDOMINION ENERGY INC	35,181	$2M	0.1%	ADD 2%
151	ETNEATON CORP PLC	5,680	$2M	0.1%	ADD 16%
152	RSGREPUBLIC SVCS INC	9,172	$2M	0.1%	HOLD
153	BARRICK GOLD CORP	116,800	$2M	0.1%	ADD 9%
154	PNCPNC FINL SVCS GROUP INC	9,313	$2M	0.1%	HOLD
155	CLCOLGATE PALMOLIVE CO	18,879	$2M	0.1%	HOLD
156	SBUXSTARBUCKS CORP	18,706	$2M	0.1%	HOLD
157	SPSBSPDR SERIES TRUST	56,983	$2M	0.1%	TRIM −8%
158	CINFCINCINNATI FINL CORP	11,737	$2M	0.1%	HOLD
159	TSCOTRACTOR SUPPLY CO	31,625	$2M	0.1%	ADD 446%
160	NFLXNETFLIX INC	1,843	$2M	0.0%	TRIM −3%
161	WMWASTE MGMT INC DEL	7,876	$2M	0.0%	HOLD
162	HONHONEYWELL INTL INC	6,947	$2M	0.0%	ADD 6%
163	IBMINTERNATIONAL BUSINESS MACHS	7,035	$2M	0.0%	ADD 13%
164	CEGCONSTELLATION ENERGY CORP	6,875	$2M	0.0%	HOLD
165	GLDSPDR GOLD TR	6,283	$2M	0.0%	ADD 7%
166	IQVIQVIA HLDGS INC	7,694	$2M	0.0%	HOLD
167	IEFAISHARES TR	21,080	$1M	0.0%	ADD 60%
168	LOWLOWES COS INC	5,985	$1M	0.0%	ADD 3%
169	SPLVINVESCO EXCH TRADED FD TR II	20,698	$1M	0.0%	HOLD
170	FNDXSCHWAB STRATEGIC TR	60,363	$1M	0.0%	ADD 197%
171	BWXTBWX TECHNOLOGIES INC	12,826	$1M	0.0%	TRIM −7%
172	NVONOVO-NORDISK A S	16,411	$1M	0.0%	TRIM −5%
173	IWRISHARES TR	15,866	$1M	0.0%	HOLD
174	FNFFIDELITY NATL FINL INC	24,285	$1M	0.0%	ADD 15%
175	JKHYHENRY JACK & ASSOC INC	7,658	$1M	0.0%	TRIM −4%
176	ICEINTERCONTINENTAL EXCHANGE IN	9,006	$1M	0.0%	HOLD
177	IVWISHARES TR	13,102	$1M	0.0%	HOLD
178	EEMISHARES TR	30,614	$1M	0.0%	HOLD
179	BKNGBOOKING HOLDINGS INC	252	$1M	0.0%	HOLD
180	NKENIKE INC	16,530	$1M	0.0%	TRIM −7%
181	AXPAMERICAN EXPRESS CO	4,007	$1M	0.0%	HOLD
182	ESGUISHARES TR	9,155	$1M	0.0%	HOLD
183	VLTOVERALTO CORP	11,546	$1M	0.0%	TRIM −9%
184	CSXCSX CORP	36,346	$1M	0.0%	ADD 42%
185	TRVTRAVELERS COMPANIES INC	4,800	$1M	0.0%	HOLD
186	SEICSEI INVTS CO	14,004	$1M	0.0%	HOLD
187	TSLATESLA INC	2,719	$1M	0.0%	HOLD
188	TAPMOLSON COORS BEVERAGE CO	18,793	$1M	0.0%	TRIM −4%
189	DEDEERE & CO	2,513	$1M	0.0%	HOLD
190	EWEDWARDS LIFESCIENCES CORP	13,954	$1M	0.0%	HOLD
191	MSMORGAN STANLEY	8,203	$1M	0.0%	ADD 68%
192	SYYSYSCO CORP	13,427	$1M	0.0%	ADD 35%
193	TXNTEXAS INSTRS INC	5,390	$1M	0.0%	ADD 11%
194	IDXXIDEXX LABS INC	2,391	$988,536	0.0%	TRIM −6%
195	MRSHMARSH & MCLENNAN COS INC	4,580	$972,838	0.0%	HOLD
196	PODDINSULET CORP	3,657	$954,733	0.0%	HOLD
197	VBVANGUARD INDEX FDS	3,939	$946,463	0.0%	HOLD
198	AMPAMERIPRISE FINL INC	1,761	$937,610	0.0%	ADD 9%
199	VRTXVERTEX PHARMACEUTICALS INC	2,244	$903,659	0.0%	HOLD
200	OIHVANECK ETF TRUST	3,275	$888,279	0.0%	NEW

showing the top 200 by weight

☆BOSTON FINANCIAL MANGEMENT LLC