Northeast Investors Trust

Northeast Investors Trust as of March 31, 2012

Portfolio Holdings for Northeast Investors Trust

Northeast Investors Trust holds 0 positions in its portfolio as reported in the March 2012 quarterly 13F filing

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FORM 13F AS OF  3/31/2012
NORTHEAST INVESTORS TRUST                                    Page     1
                                                                                              Item 6                Item 8
 Item 1                         Item 3            Item 4              Item 5         Investment Discretion    Voting Authority
 ______________                 _____       _________________  _____________________          ________            ________
COMMON STOCKS
 CITIGROUP INC                  172967424        48,077,285.00        1,315,384.000         1,315,384.000        1,315,384.000
 CORE-MARK HOLDING CO INC       218681104        11,365,026.00          277,602.000           277,602.000          277,602.000
 KAISER ALUMINUM CORP           483007704           292,303.00            6,185.000             6,185.000            6,185.000
 NL INDUSTRIES                  629156407         7,601,980.00          510,200.000           510,200.000          510,200.000
 ROCK-TENN COMPANY              772739207           929,963.00           13,765.000            13,765.000           13,765.000
 COMMON STOCKS                  TOTAL *          68,266,557.00        2,123,136.000         2,123,136.000        2,123,136.000
                          GRAND TOTAL **         68,266,557.00        2,123,136.000         2,123,136.000        2,123,136.000