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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
+2.43%
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
$8.25B
AUM Growth
-$49M
Cap. Flow
-$98.8M
Cap. Flow %
-1.2%
Top 10 Hldgs %
38.58%
Holding
390
New
7
Increased
62
Reduced
202
Closed
16

Top Buys

Rank Stock Value
1
PANW icon
Palo Alto Networks
PANW
+$17.5M
2
UBER icon
Uber
UBER
+$15M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$10.7M
4
SNPS icon
Synopsys
SNPS
+$7.77M
5
AVGO icon
Broadcom
AVGO
+$6.33M

Top Sells

Rank Stock Value
1
FISV
Fiserv Inc
FISV
+$26.4M
2
NVDA icon
NVIDIA
NVDA
+$23.2M
3
KMX icon
CarMax
KMX
+$14.9M
4
NOW icon
ServiceNow
NOW
+$7.56M
5
ADBE icon
Adobe
ADBE
+$6.78M

Sector Composition

Rank Sector Weight
1 Technology 26.49%
2 Healthcare 16.78%
3 Financials 12.32%
4 Consumer Discretionary 10.62%
5 Industrials 9.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
META icon
26
Meta Platforms (Facebook)
META
$1.51T
$85.8M 1.04%
130,031
+3,869
+3% +$2.58M
AMP icon
27
Ameriprise Financial
AMP
$48.8B
$85.3M 1.03%
173,878
-1,006
-0.6% -$477K
MTD icon
28
Mettler-Toledo International
MTD
$28.6B
$82.7M 1%
59,348
-373
-0.6% -$521K
AVGO icon
29
Broadcom
AVGO
$2.04T
$79.5M 0.96%
229,576
+17,706
+8% +$6.33M
ABT icon
30
Abbott
ABT
$187B
$79.2M 0.96%
631,911
+46
+0% +$5.86K
RMD icon
31
ResMed
RMD
$30.7B
$79.1M 0.96%
328,371
-1,465
-0.4% -$375K
ABBV icon
32
AbbVie
ABBV
$435B
$79M 0.96%
345,947
-2,424
-0.7% -$552K
AJG icon
33
Arthur J. Gallagher & Co
AJG
$63.6B
$76.2M 0.92%
294,278
+1,508
+0.5% +$399K
WSO icon
34
Watsco Inc
WSO
$13.6B
$71M 0.86%
210,718
-2,513
-1% -$897K
CVX icon
35
Chevron
CVX
$366B
$62.1M 0.75%
407,695
-7,513
-2% -$1.14M
PEP icon
36
PepsiCo
PEP
$190B
$61.6M 0.75%
429,173
-11,653
-3% -$1.71M
VEA icon
37
Vanguard FTSE Developed Markets ETF
VEA
$237B
$60.4M 0.73%
967,383
-14,775
-2% -$905K
BRK.B icon
38
Berkshire Hathaway Class B
BRK.B
$1.13T
$59.6M 0.72%
118,631
-2,027
-2% -$1.01M
WMT icon
39
Walmart Inc
WMT
$890B
$59.6M 0.72%
535,229
+5,858
+1% +$629K
ADP icon
40
Automatic Data Processing
ADP
$108B
$58.3M 0.71%
226,508
-2,041
-0.9% -$543K
BKNG icon
41
Booking.com
BKNG
$161B
$57.1M 0.69%
266,375
-2,150
-0.8% -$442K
XYL icon
42
Xylem
XYL
$28.1B
$54.7M 0.66%
401,832
+8,461
+2% +$1.22M
BAC icon
43
Bank of America
BAC
$442B
$54.4M 0.66%
989,978
-15,887
-2% -$840K
IRM icon
44
Iron Mountain
IRM
$36.1B
$54.4M 0.66%
656,364
-2,628
-0.4% -$246K
NEE icon
45
NextEra Energy
NEE
$177B
$54.3M 0.66%
676,027
+3,318
+0.5% +$275K
TMO icon
46
Thermo Fisher Scientific
TMO
$220B
$51.6M 0.63%
89,084
-642
-0.7% -$363K
LECO icon
47
Lincoln Electric
LECO
$15.4B
$51M 0.62%
212,640
-2,724
-1% -$645K
CSCO icon
48
Cisco
CSCO
$479B
$49.5M 0.6%
642,476
-4,814
-0.7% -$357K
LIN icon
49
Linde
LIN
$226B
$44.6M 0.54%
104,570
+812
+0.8% +$348K
PANW icon
50
Palo Alto Networks
PANW
$297B
$43.2M 0.52%
234,423
+86,897
+59% +$17.5M
1
2
3 4 5

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LGF
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CCM
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WA
Whitebox Advisors Minneapolis, Minnesota $8.12B AUM 15.82% 1-Year Est. Return
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
MAM
Madison Asset Management Madison, Wisconsin $8.06B AUM 11.81% 1-Year Est. Return

Welch & Forbes's Q4 2025 Portfolio in Review

As of Q4 2025, Welch & Forbes held 390 positions worth $8.25B, down 0.59% from $8.3B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Welch & Forbes's Q4 2025 filing shows 7 new, 62 increased, 202 reduced and 16 closed positions. Its largest new stake was Harbor Long-Short Equity ETF: 14,016 shares worth $387K. The largest sale was Fiserv Inc, an estimated $26.4M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 28% a quarter earlier, followed by Healthcare and Financials.

  • Welch & Forbes's largest Q4 2025 buy was Harbor Long-Short Equity ETF: 14,016 shares worth $387K.
  • Welch & Forbes added most to Palo Alto Networks in Q4 2025, an estimated $17.5M increase.
  • Welch & Forbes's biggest Q4 2025 reduction was Fiserv Inc, cutting an estimated $26.4M.
  • Welch & Forbes fully exited Enterprise Products Partners in Q4 2025, selling an estimated $911K.
  • Welch & Forbes's ten largest holdings make up 39% of its $8.25B portfolio in Q4 2025.
  • Welch & Forbes opened 7 new positions and closed 16 in Q4 2025.
  • Welch & Forbes's portfolio value fell 0.59% quarter-over-quarter to $8.25B.

Based on Welch & Forbes's 13F filing for Q4 2025, filed 10 Feb 2026.