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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
KMB icon
176
Kimberly-Clark
KMB
$35.9B
$2.3M 0.03%
18,458
-209
-1% -$27K
EVN
177
Eaton Vance Municipal Income Trust
EVN
$429M
$2.28M 0.03%
205,784
– –
FTSM icon
178
First Trust Enhanced Short Maturity ETF
FTSM
$6.54B
$2.23M 0.03%
37,189
+800
+2% +$48K
IWR icon
179
iShares Russell Mid-Cap ETF
IWR
$57.5B
$2.2M 0.03%
22,832
+105
+0.5% +$9.95K
TSLA icon
180
Tesla
TSLA
$1.31T
$2.18M 0.03%
4,904
-356
-7% -$123K
HUBB icon
181
Hubbell
HUBB
$26.7B
$2.16M 0.03%
5,027
– –
SPGI icon
182
S&P Global
SPGI
$121B
$2.16M 0.03%
4,434
+3,317
+297% +$1.78M
CRM icon
183
Salesforce
CRM
$162B
$2.13M 0.03%
8,972
-281
-3% -$70.9K
BLK icon
184
Blackrock
BLK
$175B
$2.05M 0.02%
1,761
– –
VEEV icon
185
Veeva Systems
VEEV
$38.1B
$1.96M 0.02%
6,563
+416
+7% +$117K
PH icon
186
Parker-Hannifin
PH
$134B
$1.93M 0.02%
2,551
– –
USMV icon
187
iShares MSCI USA Min Vol Factor ETF
USMV
$24.4B
$1.82M 0.02%
19,116
– –
WM icon
188
Waste Management
WM
$90.6B
$1.82M 0.02%
8,221
+87
+1% +$19.6K
NOC icon
189
Northrop Grumman
NOC
$82.1B
$1.81M 0.02%
2,969
-175
-6% -$99.2K
GLP icon
190
Global Partners
GLP
$1.7B
$1.8M 0.02%
37,420
– –
CNI icon
191
Canadian National Railway
CNI
$75.7B
$1.79M 0.02%
18,998
+360
+2% +$34.7K
AGG icon
192
iShares Core US Aggregate Bond ETF
AGG
$137B
$1.79M 0.02%
17,821
+2,643
+17% +$262K
PNC icon
193
PNC Financial Services
PNC
$100B
$1.76M 0.02%
8,741
– –
MAS icon
194
Masco
MAS
$14.7B
$1.7M 0.02%
24,149
– –
AMT icon
195
American Tower
AMT
$78.8B
$1.54M 0.02%
8,005
-182
-2% -$37.9K
VLTO icon
196
Veralto
VLTO
$23.7B
$1.53M 0.02%
14,397
-262
-2% -$27.6K
DVY icon
197
iShares Select Dividend ETF
DVY
$23.6B
$1.53M 0.02%
10,756
-225
-2% -$31.2K
WTS icon
198
Watts Water Technologies
WTS
$12.8B
$1.47M 0.02%
5,280
-200
-4% -$53.6K
VSS icon
199
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.9B
$1.47M 0.02%
10,334
– –
CPRT icon
200
Copart
CPRT
$27.4B
$1.46M 0.02%
32,456
– –
6 7
8
9 10

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FIA
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VIM
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AAF
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FMI
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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.