Northeast Investors Trust is a no-load mutual fund that holds the primary objective of producing income.

The fund focuses on marketable securities of established companies that are believed to provide reasonable income and, where consistent with the primary objective, may potentially have capital appreciation. This includes bonds, preferred stocks, dividend paying common stocks, securities convertible into common stocks and securities with warrants attached.

The fund mainly invests in higher yielding and unrated or lower rated debt securities (commonly referred to as "junk bonds") to produce income for the shareholders.