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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
CSL icon
51
Carlisle Companies
CSL
$15.3B
$46.3M 0.56%
140,717
+4,187
+3% +$1.6M
CSCO icon
52
Cisco
CSCO
$483B
$44.3M 0.53%
647,290
-5,273
-0.8% -$359K
AOS icon
53
A.O. Smith
AOS
$8.48B
$43.7M 0.53%
595,309
-935
-0.2% -$66.7K
TMO icon
54
Thermo Fisher Scientific
TMO
$222B
$43.5M 0.52%
89,726
-1,388
-2% -$646K
LHX icon
55
L3Harris
LHX
$54B
$43.5M 0.52%
142,474
-415
-0.3% -$113K
EMLP icon
56
First Trust North American Energy Infrastructure Fund
EMLP
$4.1B
$40.4M 0.49%
1,054,183
-9,380
-0.9% -$354K
CTAS icon
57
Cintas
CTAS
$81.1B
$39.5M 0.48%
192,368
-873
-0.5% -$186K
CHD icon
58
Church & Dwight Co
CHD
$24.5B
$38.9M 0.47%
443,675
-4,798
-1% -$450K
KMX icon
59
CarMax
KMX
$8.34B
$36.7M 0.44%
818,220
-40,251
-5% -$2.4M
AFL icon
60
Aflac
AFL
$61.2B
$36.5M 0.44%
326,635
-6,667
-2% -$700K
ADBE icon
61
Adobe
ADBE
$109B
$33.5M 0.4%
94,978
-8,689
-8% -$3.12M
XOM icon
62
ExxonMobil
XOM
$662B
$32.8M 0.4%
291,236
-15,660
-5% -$1.74M
ORCL icon
63
Oracle
ORCL
$435B
$32.3M 0.39%
114,895
-1,943
-2% -$495K
FTSL icon
64
First Trust Senior Loan Fund ETF
FTSL
$2.33B
$31.1M 0.37%
678,209
-3,969
-0.6% -$183K
VZ icon
65
Verizon
VZ
$195B
$30.9M 0.37%
702,159
-24,900
-3% -$1.08M
PANW icon
66
Palo Alto Networks
PANW
$314B
$30M 0.36%
147,526
+128,927
+693% +$24.7M
AXP icon
67
American Express
AXP
$229B
$29.2M 0.35%
87,759
-1,034
-1% -$329K
ACN icon
68
Accenture
ACN
$109B
$27.5M 0.33%
111,598
-10,923
-9% -$2.85M
TSCO icon
69
Tractor Supply
TSCO
$18B
$27.5M 0.33%
483,759
-4,429
-0.9% -$261K
MRK icon
70
Merck
MRK
$323B
$27.4M 0.33%
326,753
-4,855
-1% -$400K
SPY icon
71
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$26.9M 0.32%
40,312
-504
-1% -$323K
DOV icon
72
Dover
DOV
$28.3B
$26M 0.31%
155,797
-2,753
-2% -$494K
MCO icon
73
Moody's
MCO
$82.8B
$23.8M 0.29%
50,041
+935
+2% +$471K
QCOM icon
74
Qualcomm
QCOM
$170B
$23.4M 0.28%
140,954
-2,484
-2% -$394K
OTIS icon
75
Otis Worldwide
OTIS
$27.7B
$23M 0.28%
251,938
-5,374
-2% -$488K
1 2
3
4 5

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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.