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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
FLEX icon
351
Flex
FLEX
$45.4B
$261K ﹤0.01%
4,508
– –
MU icon
352
Micron Technology
MU
$962B
$248K ﹤0.01%
+1,481
New +$189K
IEF icon
353
iShares 7-10 Year Treasury Bond ETF
IEF
$47.1B
$247K ﹤0.01%
2,565
– –
SOLV icon
354
Solventum
SOLV
$14.4B
$247K ﹤0.01%
3,380
– –
TXT icon
355
Textron
TXT
$15.2B
$243K ﹤0.01%
2,880
– –
ESGD icon
356
iShares ESG Aware MSCI EAFE ETF
ESGD
$12.2B
$242K ﹤0.01%
2,605
– –
LNC icon
357
Lincoln National
LNC
$8.58B
$242K ﹤0.01%
6,000
– –
D icon
358
Dominion Energy
D
$59.5B
$237K ﹤0.01%
3,870
– –
CNQ icon
359
Canadian Natural Resources
CNQ
$97.9B
$233K ﹤0.01%
7,290
– –
TDG icon
360
TransDigm Group
TDG
$69B
$229K ﹤0.01%
174
-4
-2% -$5.72K
DEA
361
Easterly Government Properties
DEA
$1.14B
$227K ﹤0.01%
9,910
– –
FDN icon
362
First Trust Dow Jones Internet Index Fund ETF
FDN
$5.37B
$225K ﹤0.01%
805
– –
IBIT icon
363
iShares Bitcoin Trust
IBIT
$47.3B
$225K ﹤0.01%
+3,455
New +$225K
CCI icon
364
Crown Castle
CCI
$31.5B
$224K ﹤0.01%
2,320
-167
-7% -$16.9K
CDNS icon
365
Cadence Design Systems
CDNS
$90B
$220K ﹤0.01%
+625
New +$215K
AON icon
366
Aon
AON
$76B
$219K ﹤0.01%
613
-200
-25% -$72.3K
SPYM
367
State Street SPDR Portfolio S&P 500 ETF
SPYM
$168B
$217K ﹤0.01%
2,775
-1,500
-35% -$113K
PYPL icon
368
PayPal
PYPL
$50.4B
$214K ﹤0.01%
3,190
-478
-13% -$33.7K
HUBS icon
369
HubSpot
HUBS
$10.9B
$213K ﹤0.01%
456
– –
B
370
Barrick Mining
B
$67.8B
$213K ﹤0.01%
+6,500
New +$165K
ITOT icon
371
iShares Core S&P Total US Stock Market ETF
ITOT
$97.6B
$212K ﹤0.01%
+1,456
New +$204K
SCHK icon
372
Schwab 1000 Index ETF
SCHK
$5.92B
$209K ﹤0.01%
+6,502
New +$201K
TRMB icon
373
Trimble
TRMB
$13.5B
$206K ﹤0.01%
+2,526
New +$206K
UBS icon
374
UBS Group
UBS
$176B
$205K ﹤0.01%
+5,008
New +$194K
MLM icon
375
Martin Marietta Materials
MLM
$32.9B
$204K ﹤0.01%
+324
New +$193K
12 13 14
15
16

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GGHC
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CCM
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FIA
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VIM
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AAF
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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.