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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
JILL icon
276
J. Jill
JILL
$279M
$511K 0.01%
29,825
– –
AEP icon
277
American Electric Power
AEP
$66.9B
$501K 0.01%
4,456
-19
-0.4% -$2.08K
CEG icon
278
Constellation Energy
CEG
$95.8B
$499K 0.01%
1,516
– –
PLD icon
279
Prologis
PLD
$132B
$499K 0.01%
4,356
– –
DCI icon
280
Donaldson
DCI
$11.2B
$488K 0.01%
5,965
– –
MKC icon
281
McCormick & Company Non-Voting
MKC
$14.3B
$483K 0.01%
7,222
-725
-9% -$50.8K
BLD
282
DELISTED
TopBuild
BLD
$476K 0.01%
1,219
– –
VIG icon
283
Vanguard Dividend Appreciation ETF
VIG
$114B
$463K 0.01%
2,145
+313
+17% +$65.7K
ES icon
284
Eversource Energy
ES
$26.8B
$457K 0.01%
6,428
-480
-7% -$31.5K
BKLN icon
285
Invesco Senior Loan ETF
BKLN
$6.74B
$453K 0.01%
21,659
-40,540
-65% -$849K
MOAT icon
286
VanEck Morningstar Wide Moat ETF
MOAT
$12.4B
$447K 0.01%
4,506
+75
+2% +$7.32K
SCHW
287
Charles Schwab
SCHW
$187B
$445K 0.01%
4,657
– –
DNA icon
288
Ginkgo Bioworks
DNA
$515M
$437K 0.01%
30,000
– –
GPC icon
289
Genuine Parts
GPC
$18.5B
$430K 0.01%
3,102
-25
-0.8% -$3.35K
ABNB icon
290
Airbnb
ABNB
$111B
$427K 0.01%
3,515
-1,200
-25% -$155K
DIA icon
291
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$48.4B
$422K 0.01%
911
– –
GWW icon
292
W.W. Grainger
GWW
$61.1B
$421K 0.01%
442
– –
ICE icon
293
Intercontinental Exchange
ICE
$84.5B
$419K 0.01%
2,489
+150
+6% +$26.8K
WMB icon
294
Williams Companies
WMB
$87.9B
$417K 0.01%
6,575
-934
-12% -$54.8K
EBAY icon
295
eBay
EBAY
$47.9B
$414K 0.01%
4,549
-825
-15% -$73K
SOXX icon
296
iShares Semiconductor ETF
SOXX
$44.8B
$409K ﹤0.01%
1,509
– –
BP icon
297
BP
BP
$110B
$408K ﹤0.01%
11,853
+1,238
+12% +$41.5K
TER icon
298
Teradyne
TER
$57.1B
$407K ﹤0.01%
2,955
– –
EME icon
299
Emcor
EME
$35.7B
$407K ﹤0.01%
626
– –
MTB icon
300
M&T Bank
MTB
$36.3B
$404K ﹤0.01%
2,046
– –
10 11
12
13 14

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GGHC
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CCM
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FIA
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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.