<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:sccom="http://www.sec.gov/edgar/sccommon" xmlns:ncom="http://www.sec.gov/edgar/ncencommon" xmlns:iso="http://www.sec.gov/edgar/iso_statecodes" xmlns:exch="http://www.sec.gov/edgar/iso_exchangelist" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000072760</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000011440</seriesId>
          <!--Field: Pseudo-Tag; ID: Series Name; Data: NORTHEAST INVESTORS TRUST-->
          <classInfo>
            <classId>C000031645</classId>
            <!--Field: Pseudo-Tag; ID: Class Name; Data: NORTHEAST INVESTORS TRUST-->
          </classInfo>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2024-09-30" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>NORTHEAST INVESTORS TRUST</registrantFullName>
      <investmentCompFileNo>811-00576</investmentCompFileNo>
      <registrantCik>0000072760</registrantCik>
      <registrantLei>254900TFW0QM0GDHQX67</registrantLei>
      <registrantstreet1>125 HIGH ST</registrantstreet1>
      <registrantstreet2>Suite 1802</registrantstreet2>
      <registrantcity>BOSTON</registrantcity>
      <registrantzipCode>02110</registrantzipCode>
      <registrantstate>US-MA</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>8002256704</registrantphoneNumber>
      <websites>
        <website webpage="www.northeastinvestors.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Northeast Investors Trust</officeName>
          <officeAddress1>125 High St</officeAddress1>
          <officeAddress2>Suite 1802</officeAddress2>
          <officeCity>Boston</officeCity>
          <officeStateCountry officeState="US-MA" officeCountry="US"/>
          <officeRecordsZipCode>02110</officeRecordsZipCode>
          <officePhone>800-225-6704</officePhone>
          <booksRecordsDesc>administrative, accounting, shareholder, portfolio management, compliance records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>State Street Bank &amp; Trust Co.</officeName>
          <officeAddress1>1 Iron St</officeAddress1>
          <officeCity>Boston</officeCity>
          <officeStateCountry officeState="US-MA" officeCountry="US"/>
          <officeRecordsZipCode>02110</officeRecordsZipCode>
          <officePhone>617-662-9499</officePhone>
          <booksRecordsDesc>records related to custody of fund assets</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>UMB Bank NA</officeName>
          <officeAddress1>140 Broadway</officeAddress1>
          <officeAddress2>Suite 4624</officeAddress2>
          <officeCity>New York</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>10005</officeRecordsZipCode>
          <officePhone>646-650-3178</officePhone>
          <booksRecordsDesc>custody records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Computershare Trust Company</officeName>
          <officeAddress1>P.O. Box 505000</officeAddress1>
          <officeCity>Louisville</officeCity>
          <officeStateCountry officeState="US-KY" officeCountry="US"/>
          <officeRecordsZipCode>40233</officeRecordsZipCode>
          <officePhone>502-301-6000</officePhone>
          <booksRecordsDesc>custody records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Ankura Trust Company</officeName>
          <officeAddress1>140 Sherman Street - 4th Fl</officeAddress1>
          <officeCity>Fairfield</officeCity>
          <officeStateCountry officeState="US-CT" officeCountry="US"/>
          <officeRecordsZipCode>06824</officeRecordsZipCode>
          <officePhone>972-581-6334</officePhone>
          <booksRecordsDesc>custody records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>U.S. Bank</officeName>
          <officeAddress1>West Side Flats St. Paul</officeAddress1>
          <officeAddress2>111 Filmore Ave</officeAddress2>
          <officeCity>Saint Paul</officeCity>
          <officeStateCountry officeState="US-MN" officeCountry="US"/>
          <officeRecordsZipCode>55107</officeRecordsZipCode>
          <officePhone>651-466-6299</officePhone>
          <booksRecordsDesc>Custody Records</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>1</totalSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Bruce Monrad</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Richard Reubenstone</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Geofrey Wyatt</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>David Randall</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>125 High St</ccoStreet1>
          <ccoStreet2>Suite 1802</ccoStreet2>
          <ccoCity>Boston</ccoCity>
          <ccoStateCountry ccoState="US-MA" ccoCountry="US"/>
          <ccoZipCode>02110</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Tait, Weller &amp; Baker LLP</publicAccountantName>
          <pcaobNumber>00445</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-PA" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Northeast Investors Trust</mgmtInvFundName>
        <mgmtInvSeriesId>S000011440</mgmtInvSeriesId>
        <mgmtInvLei>254900TFW0QM0GDHQX67</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Northeast Investors Trust" sharesOutstandingClassId="C000031645" sharesOutstandingTickerSymbol="NTHEX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>N/A</securitiesAgentName>
            <securitiesAgentLei>N/A</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <isSecurityAgentIdemnity>N</isSecurityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="N/A" collateralManagerLei="N/A" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Northeast Investors Trust</transferAgentName>
            <transferAgentFileNo>084-00268</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>Y</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing + Reference Data</pricingServiceName>
            <pricingServiceLei>54930000NQL4DBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg, L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>State Street Bank &amp; Trust Co</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>5Y9300CWUTEDC3CFJ739</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>26045500</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Imperial Capital LLC</principalName>
            <principalFileNo>008-50397-001</principalFileNo>
            <principalCrdNo>000043744</principalCrdNo>
            <principalLei>54930018X15KS164Y307</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>5500000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3850000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>35395500</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>133183007</mnthlyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Committed</isCreditLineCommitted>
              <lineOfCreditSize>20000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="State Street Bank &amp; Trust Co"/>
              </lineOfCreditInstitutions>
              <soleCreditType creditType="Sole"/>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="1031169" daysCreditUsed="66"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="NORTHEAST INVESTORS TRUST" signedDate="2024-12-12" signature="Joseph Morrison" title="Vice President"/>
  </formData>
</edgarSubmission>
