Investment objective & strategy
As of Jan. 30, 2026 · prospectusObjective. Northeast Investors Trust is a no load high yield bond fund whose primary objective is the production of income. Capital appreciation is also an objective of the Trust but its achievement must be compatible with the primary objective.
Strategy. The Trust invests primarily in marketable securities of established companies which the Trusts portfolio managers believe provide income and which, where consistent with the objective, may have potential for capital appreciation. These investments may include bonds which may be purchased at a discount or premium, preferred securities, common stocks, convertible securities and securities with warrants attached. The Trusts portfolio emphasizes high yield corporate bonds (sometimes referred to as junk bonds) which are unrated or rated as lower than investment grade by either of the two principal rating services. Equity investments, which are generally acquired via corporate debt restructurings, are considered for their potential for appreciation. The Trust invests primarily in marketable securities of established companies which the Trusts portfolio managers believe provide income and which, where consistent with the objective, may have potential for capital appreciation. These investments may include bonds which may be purchased at a discount or premium, preferred securities, common stocks, convertible securities and securities with warrants attached. The Trusts portfolio emphasizes high yield corporate bonds (sometimes referred to as junk bonds) which are unrated or rated as lower than investment grade by either of the two principal rating services. Equity investments, which are generally acquired via corporate debt restructurings, are considered for their potential for appreciation.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| COMMON STOCK | — | $9.81M | 7.88% |
| Pyxus Holdings Inc | — | $9.65M | 7.75% |
| REPURCHASE AGREEMENT | — | $7.78M | 6.24% |
| Tidewater Inc. | — | $5.32M | 4.27% |
| KB HOME SR UNSEC 7.25% 07-15-30 | KBH | $5.09M | 4.09% |
| XPO INC REGD 144A P/P 6.25000000 | XPO | $5.06M | 4.06% |
| HOUS 7 04/15/30 144A | HOUS | $5.01M | 4.02% |
| SS&C Technologies, Inc. | — | $5.00M | 4.02% |
| MOOG INC REGD 144A P/P 4.25000000 | MOGA | $5.00M | 4.01% |
| PITNEY BOWES INC REGD 144A P/P 6.87500000 | PBI | $4.99M | 4.00% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| RIVERPARK SHORT TERM HIGH YIELD FUND · RPHYX, RPHIX | 8% | 0.96% |
| Carillon Chartwell Short Duration High Yield Fund · CWFIX, CWFRX, CWFCX, CWFAX | 7% | 0.39% |
| Invesco BulletShares 2026 High Yield Corporate Bond ETF · BSJQ | 5% | 0.43% |
Footnotes
- Expense ratio as of January 30, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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