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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
ORCL icon
76
Oracle
ORCL
$435B
$22M 0.27%
112,655
-2,240
-2% -$533K
OTIS icon
77
Otis Worldwide
OTIS
$27.7B
$21.5M 0.26%
246,580
-5,358
-2% -$479K
UBER icon
78
Uber
UBER
$159B
$20.8M 0.25%
254,751
+166,371
+188% +$15M
OMC icon
79
Omnicom Group
OMC
$23.2B
$20.4M 0.25%
252,500
-11,851
-4% -$906K
KO icon
80
Coca-Cola
KO
$374B
$19.8M 0.24%
283,587
-5,207
-2% -$363K
EQIX icon
81
Equinix
EQIX
$103B
$19.3M 0.23%
25,179
+765
+3% +$600K
PFF icon
82
iShares Preferred and Income Securities ETF
PFF
$13.2B
$18.4M 0.22%
594,427
-51,064
-8% -$1.59M
GDX icon
83
VanEck Gold Miners ETF
GDX
$27.6B
$18.4M 0.22%
214,275
-15,994
-7% -$1.26M
KMX icon
84
CarMax
KMX
$8.34B
$17.3M 0.21%
446,573
-371,647
-45% -$14.9M
SNPS icon
85
Synopsys
SNPS
$78.8B
$16.7M 0.2%
35,556
+17,481
+97% +$7.77M
IJR icon
86
iShares Core S&P Small-Cap ETF
IJR
$112B
$16.6M 0.2%
137,975
+334
+0.2% +$39.9K
IBM icon
87
IBM
IBM
$223B
$16M 0.19%
53,911
-502
-0.9% -$150K
EW icon
88
Edwards Lifesciences
EW
$53B
$15.5M 0.19%
181,671
-953
-0.5% -$78.2K
EXPD icon
89
Expeditors International
EXPD
$23.3B
$15.2M 0.18%
102,259
-779
-0.8% -$106K
EMR icon
90
Emerson Electric
EMR
$88.5B
$15M 0.18%
113,174
-4,080
-3% -$541K
GE icon
91
GE Aerospace
GE
$380B
$13.9M 0.17%
45,283
-1,009
-2% -$304K
IVV icon
92
iShares Core S&P 500 ETF
IVV
$904B
$12.6M 0.15%
18,340
+890
+5% +$604K
MZTI
93
The Marzetti Company
MZTI
$3.13B
$11.9M 0.14%
72,543
-1,808
-2% -$302K
CGNX icon
94
Cognex
CGNX
$10.8B
$11.9M 0.14%
330,638
-8,479
-3% -$343K
CAT icon
95
Caterpillar
CAT
$385B
$11.1M 0.13%
19,405
-39
-0.2% -$21.7K
BSX icon
96
Boston Scientific
BSX
$73.1B
$10.7M 0.13%
111,739
-202
-0.2% -$19.8K
MDB icon
97
MongoDB
MDB
$33.5B
$9.9M 0.12%
23,581
+898
+4% +$327K
PFE icon
98
Pfizer
PFE
$154B
$8.86M 0.11%
355,663
-9,955
-3% -$251K
SHW icon
99
Sherwin-Williams
SHW
$88.1B
$8.75M 0.11%
27,013
-75
-0.3% -$25.1K
NVS icon
100
Novartis
NVS
$298B
$8.42M 0.1%
61,088
-58
-0.1% -$7.59K
2 3
4
5 6

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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
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 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.