UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-576 Northeast Investors Trust (exact name of registrant as specified in charter) 100 High Street, Room 1000 Boston, MA 02110 (adress of principal executive offices) David Randall 100 High St, Room 1000 Boston, MA 02110 (name and address of agent for service) Registrant's telephone number, including area code: 617-523-3588 Date of fiscal year end: September 30 Date of reporting period ending: June 30, 2009 Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting records for the most recent twelve-month period June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. 3507 Investment Company Report THE PENN TRAFFIC COMPANY SECURITY 707832309 MEETING TYPE Annual TICKER SYMBOL PTFC MEETING DATE 09-Jul-2008 ISIN US7078323091 AGENDA 932926643 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 ROBERT J. KELLY For For 2 GREGORY J. YOUNG For For 3 JOHN E. BURKE For For 4 KEVIN P. COLLINS For For 5 BEN EVANS For For 6 ALAN C. LEVITAN For For 7 KURT M. CELLAR For For 8 SCOTT SOZIO For For THE PROPOSAL TO RATIFY THE APPOINTMENT OF EISNER LLP AS THE INDEPENDENT ACCOUNTANTS FOR THE PENN TRAFFIC COMPANY FOR FISCAL YEAR ENDING JANUARY 31, 02 2009. Management For For
Page 1 of 11 09-Jul-2009 Investment Company Report ORMET CORP. SECURITY 686701103 MEETING TYPE Annual TICKER SYMBOL ORMT MEETING DATE 05-Aug-2008 ISIN US6867011032 AGENDA 932936567 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 BENJAMIN DUSTER For For 2 JEFFREY MARSHALL For For 3 ROBERT PRUSAK For For 4 DAVID ROBERTSON For For 5 MICHAEL F. TANCHUK For For
Page 2 of 11 09-Jul-2009 Investment Company Report AMTROL HOLDINGS, INC. SECURITY 03236C103 MEETING TYPE Annual TICKER SYMBOL MEETING DATE 08-Aug-2008 ISIN AGENDA 932937482 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 LARRY T. GUILLEMETTE For For 2 DAVID P. SPALDING For For 3 TIMOTHY T. JANSZEN For For 4 RYAN LANGDON For For 5 RICHARD C. HARRIS For For TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF THE CORPORATION FROM 10,300,000 TO 12,800,000, DIVIDED INTO 12,500,000 SHARES OF COMMON STOCK AND 300,000 SHARES OF PREFERRED STOCK, FOR THE PURPOSE OF POTENTIAL ACQUISITIONS, EQUITY INVESTMENTS AND GENERAL 02 CORPORATE PURPOSES. Management For For
Page 3 of 11 09-Jul-2009 Investment Company Report DURA AUTOMOTIVE SYS INC SECURITY 26632V102 MEETING TYPE Consent TICKER SYMBOL DRMV MEETING DATE 20-Feb-2009 ISIN US26632V1026 AGENDA 932994470 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- CONSENT TO PROPOSED 01 AMENDMENT Management Against N/A
Page 4 of 11 09-Jul-2009 Investment Company Report STERLING CHEMICALS, INC. SECURITY 859166100 MEETING TYPE Annual TICKER SYMBOL SCHI MEETING DATE 30-Apr-2009 ISIN US8591661009 AGENDA 933024200 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 RICHARD K. CRUMP For For 2 JOHN V. GENOVA For For 3 JOHN W. GILDEA For For 4 DR. PETER TING KAI WU For For PROPOSAL TO RATIFY THE APPOINTMENT OF GRANT THORNTON LLP AS INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE COMPANY FOR THE FISCAL YEAR ENDING 02 DECEMBER 31, 2009. Management For For PROPOSAL TO RATIFY AND APPROVE THE AMENDMENT AND RESTATEMENT OF THE COMPANY'S AMENDED AND RESTATED 2002 STOCK PLAN AS SET FORTH ON ANNEX A OF THE PROXY 03 STATEMENT. Management Against Against PROPOSAL TO AMEND THE COMPANY'S SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK FROM 20,000,000 TO 04 100,000,000. Management Against Against
Page 5 of 11 09-Jul-2009 Investment Company Report NL INDUSTRIES, INC. SECURITY 629156407 MEETING TYPE Annual TICKER SYMBOL NL MEETING DATE 12-May-2009 ISIN US6291564077 AGENDA 933048692 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 CECIL H. MOORE, JR. For For 2 GLENN R. SIMMONS For For 3 HAROLD C. SIMMONS For For 4 THOMAS P. STAFFORD For For 5 STEVEN L. WATSON For For 6 TERRY N. WORRELL For For
Page 6 of 11 09-Jul-2009 Investment Company Report KRONOS WORLDWIDE, INC. SECURITY 50105F105 MEETING TYPE Annual TICKER SYMBOL KRO MEETING DATE 14-May-2009 ISIN US50105F1057 AGENDA 933053287 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 KEITH R. COOGAN For For 2 CECIL H. MOORE, JR. For For 3 GEORGE E. POSTON For For 4 GLENN R. SIMMONS For For 5 HAROLD C. SIMMONS For For 6 R. GERALD TURNER For For 7 STEVEN L. WATSON For For
Page 7 of 11 09-Jul-2009 Investment Company Report POLYMER GROUP, INC. SECURITY 731745204 MEETING TYPE Annual TICKER SYMBOL POLGA MEETING DATE 22-May-2009 ISIN US7317452040 AGENDA 933069987 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 RAMON BETOLAZA For For 2 ELIZABETH A. FESSENDEN For For 3 VERONICA M. HAGEN For For 4 KEITH B. HALL For For 5 WILLIAM B. HEWITT For For 6 JAMES A. OVENDEN For For 7 MARK R. PATTERSON For For 8 CHARLES E. VOLPE For For TO APPROVE THE AMENDED AND RESTATED POLYMER GROUP, INC. 2008 LONG-TERM STOCK 02 INCENTIVE PLAN. Management Against Against TO APPROVE THE AMENDED AND RESTATED POLYMER GROUP, INC. 2004 03 RESTRICTED STOCK PLAN. Management Against Against
Page 8 of 11 09-Jul-2009 Investment Company Report MAXXAM INC. SECURITY 577913106 MEETING TYPE Annual TICKER SYMBOL MXM MEETING DATE 27-May-2009 ISIN US5779131060 AGENDA 933085272 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 ROBERT J. CRUIKSHANK* For For 2 STANLEY D. ROSENBERG* For For 3 MICHAEL J. ROSENTHAL* For For 4 J. KENT FRIEDMAN** For For 5 EZRA G. LEVIN** For For PROPOSAL TO APPROVE AN AMENDMENT TO MAXXAM'S 02 EXECUTIVE BONUS PLAN. Management Against Against PROPOSAL TO APPROVE AN AMENDMENT TO THE MAXXAM 2002 OMNIBUS EMPLOYEE 03 INCENTIVE PLAN. Management Against Against
Page 9 of 11 09-Jul-2009 Investment Company Report CORE-MARK HOLDING COMPANY, INC. SECURITY 218681104 MEETING TYPE Annual TICKER SYMBOL CORE MEETING DATE 02-Jun-2009 ISIN US2186811046 AGENDA 933057968 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- ELECTION OF DIRECTOR : 1A ROBERT A. ALLEN Management For For ELECTION OF DIRECTOR : 1B STUART W. BOOTH Management For For ELECTION OF DIRECTOR : 1C GARY F. COLTER Management For For ELECTION OF DIRECTOR : L. 1D WILLIAM KRAUSE Management For For ELECTION OF DIRECTOR : 1E HARVEY L. TEPNER Management For For ELECTION OF DIRECTOR : 1F RANDOLPH I. THORNTON Management For For ELECTION OF DIRECTOR : J. 1G MICHAEL WALSH Management For For TO RATIFY THE SELECTION OF DELOITTE & TOUCHE LLP AS CORE-MARK'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO SERVE FOR THE FISCAL YEAR ENDING 02 DECEMBER 31, 2009. Management For For
Page 10 of 11 09-Jul-2009 Investment Company Report THE PENN TRAFFIC COMPANY SECURITY 707832309 MEETING TYPE Annual TICKER SYMBOL PTFC MEETING DATE 17-Jun-2009 ISIN US7078323091 AGENDA 933097099 -- Management
FOR/AGAINST ITEM PROPOSAL TYPE VOTE MANAGEMENT ------- --------------------------- ------------- ---------- ----------- 01 DIRECTOR Management 1 ROBERT J. KELLY For For 2 GREGORY J. YOUNG For For 3 JOHN E. BURKE For For 4 KEVIN P. COLLINS For For 5 BEN EVANS For For 6 ALAN C. LEVITAN For For 7 KURT M. CELLAR For For 8 SCOTT SOZIO For For THE PROPOSAL TO RATIFY THE APPOINTMENT OF EISNER LLP AS THE INDEPENDENT ACCOUNTANTS FOR THE PENN TRAFFIC COMPANY FOR FISCAL YEAR ENDING JANUARY 30, 02 2010. Management For For
Page 11 of 11 09-Jul-2009 Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) Northeast Investors Trust /s/ Bruce Monrad By (Signature and Title)* Bruce Monrad, Chairman (Principal Executive Officer) Date August 20, 2009 * Print the name and title of each signing officer under his or her signature By the Commission