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WF

Welch & Forbes Portfolio holdings

AUM $8.23B
1-Year Est. Return 17.62%
This Fund
S&P 500
This Quarter Est. Return
+7.38%
1 Year Est. Return
+17.62%
3 Year Est. Return
+73.71%
5 Year Est. Return
+105.59%
10 Year Est. Return
+384.93%
AUM
$8.3B
AUM Growth
+$295M
Cap. Flow
-$153M
Cap. Flow %
-1.85%
Top 10 Hldgs %
38.13%
Holding
388
New
16
Increased
67
Reduced
184
Closed
5

Top Buys

Rank Stock Value
1
PANW icon
Palo Alto Networks
PANW
+$24.7M
2
LLY icon
Eli Lilly
LLY
+$14M
3
BKNG icon
Booking.com
BKNG
+$12.7M
4
SNPS icon
Synopsys
SNPS
+$10.2M
5
UBER icon
Uber
UBER
+$8.27M

Top Sells

Rank Stock Value
1
ANSS
Ansys
ANSS
+$134M
2
DHR icon
Danaher
DHR
+$14.5M
3
NVDA icon
NVIDIA
NVDA
+$13.2M
4
PEP icon
PepsiCo
PEP
+$13.1M
5
ORLY icon
O'Reilly Automotive
ORLY
+$6.13M

Sector Composition

Rank Sector Weight
1 Technology 27.79%
2 Healthcare 15.42%
3 Financials 12.12%
4 Consumer Discretionary 11.58%
5 Industrials 9.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WCN
226
Waste Connections
WCN
$41.8B
$976K 0.01%
5,550
– –
BND icon
227
Vanguard Total Bond Market
BND
$161B
$976K 0.01%
13,118
-700
-5% -$51.5K
PSX icon
228
Phillips 66
PSX
$86B
$969K 0.01%
7,123
+76
+1% +$9.74K
BR icon
229
Broadridge
BR
$19.8B
$947K 0.01%
3,975
-2,931
-42% -$730K
MS icon
230
Morgan Stanley
MS
$338B
$938K 0.01%
5,898
– –
IVW icon
231
iShares S&P 500 Growth ETF
IVW
$77.4B
$928K 0.01%
7,689
– –
EPD icon
232
Enterprise Products Partners
EPD
$82B
$911K 0.01%
29,133
-830
-3% -$26.2K
ZBH icon
233
Zimmer Biomet
ZBH
$18.7B
$911K 0.01%
9,244
-200
-2% -$19.8K
AMD icon
234
Advanced Micro Devices
AMD
$767B
$909K 0.01%
5,617
-250
-4% -$40.3K
UL icon
235
Unilever
UL
$135B
$897K 0.01%
13,454
-2,556
-16% -$176K
DD icon
236
DuPont de Nemours
DD
$19.1B
$874K 0.01%
8,938
+73
+0.8% +$6.88K
RAL
237
Ralliant Corp
RAL
$7.68B
$854K 0.01%
+19,535
New +$869K
BIV icon
238
Vanguard Intermediate-Term Bond ETF
BIV
$28.8B
$846K 0.01%
10,838
+503
+5% +$38.9K
AMG icon
239
Affiliated Managers Group
AMG
$9.6B
$835K 0.01%
3,500
– –
CSX icon
240
CSX Corp
CSX
$92.8B
$829K 0.01%
23,359
+335
+1% +$11.4K
EEM icon
241
iShares MSCI Emerging Markets ETF
EEM
$29.8B
$813K 0.01%
15,232
-395
-3% -$19.8K
IJK icon
242
iShares S&P Mid-Cap 400 Growth ETF
IJK
$11.1B
$806K 0.01%
8,403
-20
-0.2% -$1.88K
GEHC icon
243
GE HealthCare
GEHC
$32.9B
$800K 0.01%
10,647
-65
-0.6% -$4.85K
CTVA icon
244
Corteva
CTVA
$51B
$794K 0.01%
11,737
+92
+0.8% +$6.67K
WST icon
245
West Pharmaceutical
WST
$24.8B
$789K 0.01%
3,007
-1,139
-27% -$277K
BSM icon
246
Black Stone Minerals
BSM
$3.06B
$775K 0.01%
58,966
– –
PHO icon
247
Invesco Water Resources ETF
PHO
$2.09B
$757K 0.01%
10,500
-1,700
-14% -$122K
BRK.A icon
248
Berkshire Hathaway Class A
BRK.A
$1.13T
$754K 0.01%
1
– –
KKR icon
249
KKR & Co
KKR
$93.2B
$751K 0.01%
5,781
– –
VGT icon
250
Vanguard Information Technology ETF
VGT
$147B
$732K 0.01%
7,848
– –
8 9
10
11 12

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WA
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GGHC
Gilder Gagnon Howe & Co New York $8.34B AUM 46.58% 1-Year Est. Return
CCM
Coldstream Capital Management Bellevue, Washington $8.12B AUM 17.95% 1-Year Est. Return
FIA
Foundations Investment Advisors Phoenix, Arizona $8.07B AUM 24.97% 1-Year Est. Return
VIM
Vinva Investment Management Sydney, Australia $8.07B AUM 29.46% 1-Year Est. Return
AAF
Andra AP-fonden Goteborg, Sweden $8.39B AUM 21.19% 1-Year Est. Return
FMI
Fiduciary Management Inc Milwaukee, Wisconsin $8.06B AUM 6.78% 1-Year Est. Return

Welch & Forbes's Q3 2025 Portfolio in Review

As of Q3 2025, Welch & Forbes held 388 positions worth $8.3B, up 3.7% from $8.01B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Welch & Forbes's Q3 2025 filing shows 16 new, 67 increased, 184 reduced and 5 closed positions. Its largest new stake was Synopsys: 18,075 shares worth $8.92M. The largest sale was Ansys, an estimated $134M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 28% a quarter earlier, followed by Healthcare and Financials.

  • Welch & Forbes's largest Q3 2025 buy was Synopsys: 18,075 shares worth $8.92M.
  • Welch & Forbes added most to Palo Alto Networks in Q3 2025, an estimated $24.7M increase.
  • Welch & Forbes's biggest Q3 2025 reduction was Danaher, cutting an estimated $14.5M.
  • Welch & Forbes fully exited Ansys in Q3 2025, selling an estimated $134M.
  • Welch & Forbes's ten largest holdings make up 38% of its $8.3B portfolio in Q3 2025.
  • Welch & Forbes opened 16 new positions and closed 5 in Q3 2025.
  • Welch & Forbes's portfolio value rose 3.7% quarter-over-quarter to $8.3B.

Based on Welch & Forbes's 13F filing for Q3 2025, filed 4 Nov 2025.