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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
PGR icon
101
Progressive
PGR
$124B
$8.29M 0.1%
36,413
-110
-0.3% -$24.8K
APD icon
102
Air Products & Chemicals
APD
$68.6B
$8.28M 0.1%
33,512
-412
-1% -$104K
MMM icon
103
3M
MMM
$93.9B
$8.18M 0.1%
51,097
-1,044
-2% -$171K
AMGN icon
104
Amgen
AMGN
$226B
$8.16M 0.1%
24,931
-225
-0.9% -$71.4K
VEU icon
105
Vanguard FTSE All-World ex-US ETF
VEU
$69.9B
$8.15M 0.1%
110,812
+15
+0% +$1.09K
BDX icon
106
Becton Dickinson
BDX
$48.9B
$7.99M 0.1%
41,191
-6,419
-13% -$1.22M
MA icon
107
Mastercard
MA
$493B
$7.8M 0.09%
13,656
-204
-1% -$114K
SBUX icon
108
Starbucks
SBUX
$119B
$7.63M 0.09%
90,656
-7,466
-8% -$630K
CMCSA icon
109
Comcast
CMCSA
$89.4B
$7.61M 0.09%
254,480
-121,388
-32% -$3.46M
CARR icon
110
Carrier Global
CARR
$52.3B
$7.5M 0.09%
141,846
-1,261
-0.9% -$70.1K
DUK icon
111
Duke Energy
DUK
$94.5B
$7.41M 0.09%
63,205
-83
-0.1% -$10.1K
GEV icon
112
GE Vernova
GEV
$264B
$7.19M 0.09%
11,000
-265
-2% -$161K
ADI icon
113
Analog Devices
ADI
$187B
$7.16M 0.09%
26,407
-628
-2% -$158K
IAU icon
114
iShares Gold Trust
IAU
$65.1B
$7.05M 0.09%
86,883
– –
IWM icon
115
iShares Russell 2000 ETF
IWM
$81.5B
$6.86M 0.08%
27,872
+118
+0.4% +$29K
RPM icon
116
RPM International
RPM
$14.8B
$6.76M 0.08%
65,018
-1,711
-3% -$185K
HLN icon
117
Haleon
HLN
$43.7B
$6.51M 0.08%
643,501
– –
AWK icon
118
American Water Works
AWK
$26.9B
$6.49M 0.08%
49,698
-2,416
-5% -$323K
CHKP icon
119
Check Point Software Technologies
CHKP
$13.4B
$6.31M 0.08%
33,995
+100
+0.3% +$19.3K
LQD icon
120
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$32.6B
$6.23M 0.08%
56,547
-1,732
-3% -$193K
QQQ icon
121
Invesco QQQ Trust
QQQ
$479B
$6.03M 0.07%
9,813
+338
+4% +$207K
ITW icon
122
Illinois Tool Works
ITW
$83.9B
$5.45M 0.07%
22,120
-210
-0.9% -$52.3K
ISRG icon
123
Intuitive Surgical
ISRG
$139B
$5.27M 0.06%
9,311
-73
-0.8% -$38.9K
INTC icon
124
Intel
INTC
$492B
$5.27M 0.06%
142,861
-3,845
-3% -$145K
TIP icon
125
iShares TIPS Bond ETF
TIP
$14.7B
$5.24M 0.06%
47,656
+1,368
+3% +$152K
3 4
5
6 7

Similar funds

CCM
Causeway Capital Management Los Angeles, California $8.15B AUM 29.28% 1-Year Est. Return
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.