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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
BDX icon
101
Becton Dickinson
BDX
$48.9B
$8.91M 0.11%
47,610
-2,276
-5% -$423K
UBER icon
102
Uber
UBER
$159B
$8.66M 0.1%
+88,380
New +$8.27M
CARR icon
103
Carrier Global
CARR
$52.3B
$8.54M 0.1%
143,107
-731
-0.5% -$49.7K
SBUX icon
104
Starbucks
SBUX
$119B
$8.3M 0.1%
98,122
-8,720
-8% -$781K
MMM icon
105
3M
MMM
$93.9B
$8.09M 0.1%
52,141
– –
VEU icon
106
Vanguard FTSE All-World ex-US ETF
VEU
$69.9B
$7.91M 0.1%
110,797
+415
+0.4% +$28.6K
MA icon
107
Mastercard
MA
$493B
$7.88M 0.09%
13,860
+32
+0.2% +$18.4K
RPM icon
108
RPM International
RPM
$14.8B
$7.87M 0.09%
66,729
-172
-0.3% -$20.6K
NVS icon
109
Novartis
NVS
$298B
$7.84M 0.09%
61,146
-663
-1% -$80.9K
DUK icon
110
Duke Energy
DUK
$94.5B
$7.83M 0.09%
63,288
+1,213
+2% +$147K
AWK icon
111
American Water Works
AWK
$26.9B
$7.25M 0.09%
52,114
+977
+2% +$138K
AMGN icon
112
Amgen
AMGN
$226B
$7.1M 0.09%
25,156
-278
-1% -$80.6K
MDB icon
113
MongoDB
MDB
$33.5B
$7.04M 0.08%
22,683
-3,151
-12% -$810K
CHKP icon
114
Check Point Software Technologies
CHKP
$13.4B
$7.01M 0.08%
33,895
-291
-0.9% -$58.6K
GEV icon
115
GE Vernova
GEV
$264B
$6.93M 0.08%
11,265
-48
-0.4% -$29.1K
IWM icon
116
iShares Russell 2000 ETF
IWM
$81.5B
$6.72M 0.08%
27,754
+5
+0% +$1.15K
ADI icon
117
Analog Devices
ADI
$187B
$6.64M 0.08%
27,035
+222
+0.8% +$53.4K
LQD icon
118
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.6B
$6.5M 0.08%
58,279
-466
-0.8% -$51.2K
IAU icon
119
iShares Gold Trust
IAU
$65.1B
$6.32M 0.08%
86,883
– –
ITW icon
120
Illinois Tool Works
ITW
$83.9B
$5.82M 0.07%
22,330
+140
+0.6% +$36.5K
HLN icon
121
Haleon
HLN
$43.7B
$5.77M 0.07%
643,501
– –
BALL icon
122
Ball Corp
BALL
$16.6B
$5.75M 0.07%
114,001
-46,550
-29% -$2.52M
QQQ icon
123
Invesco QQQ Trust
QQQ
$479B
$5.69M 0.07%
9,475
+681
+8% +$390K
SYY icon
124
Sysco
SYY
$40.1B
$5.44M 0.07%
66,110
-2,233
-3% -$179K
TIP icon
125
iShares TIPS Bond ETF
TIP
$14.7B
$5.15M 0.06%
46,288
+1,806
+4% +$200K
3 4
5
6 7

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WA
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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
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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.