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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
+384.92%
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
NVDA icon
1
NVIDIA
NVDA
$4.72T
$646M 7.78%
3,462,148
-75,947
-2% -$13.2M
MSFT icon
2
Microsoft
MSFT
$3.35T
$463M 5.58%
894,788
-3,228
-0.4% -$1.65M
AAPL icon
3
Apple
AAPL
$4.9T
$439M 5.28%
1,722,290
-13,277
-0.8% -$3M
ORLY icon
4
O'Reilly Automotive
ORLY
$71.3B
$311M 3.75%
2,884,906
-60,938
-2% -$6.13M
GOOG icon
5
Alphabet (Google) Class C
GOOG
$4.08T
$293M 3.53%
1,203,288
-4,205
-0.3% -$884K
V icon
6
Visa
V
$684B
$248M 2.99%
727,217
-5,136
-0.7% -$1.78M
JPM icon
7
JPMorgan Chase
JPM
$933B
$212M 2.55%
671,288
-8,560
-1% -$2.55M
RTX icon
8
RTX Corp
RTX
$289B
$191M 2.3%
1,141,516
-14,017
-1% -$2.18M
SYK icon
9
Stryker
SYK
$133B
$190M 2.29%
513,622
-767
-0.1% -$296K
HD icon
10
Home Depot
HD
$332B
$173M 2.09%
427,477
-847
-0.2% -$333K
COST icon
11
Costco
COST
$423B
$150M 1.81%
161,993
-1,065
-0.7% -$1.02M
ECL icon
12
Ecolab
ECL
$78.6B
$130M 1.56%
473,582
-746
-0.2% -$203K
LLY icon
13
Eli Lilly
LLY
$1.03T
$128M 1.55%
168,196
+18,751
+13% +$14M
JNJ icon
14
Johnson & Johnson
JNJ
$617B
$125M 1.51%
675,855
-11,287
-2% -$1.93M
DHR icon
15
Danaher
DHR
$138B
$123M 1.49%
622,089
-72,790
-10% -$14.5M
PG icon
16
Procter & Gamble
PG
$335B
$121M 1.46%
787,875
-2,363
-0.3% -$369K
AMZN icon
17
Amazon
AMZN
$2.53T
$121M 1.45%
550,124
+2,252
+0.4% +$510K
TJX icon
18
TJX Companies
TJX
$176B
$113M 1.36%
780,740
-4,277
-0.5% -$568K
FISV
19
Fiserv Inc
FISV
$28.8B
$112M 1.35%
872,375
+6,556
+0.8% +$940K
CB icon
20
Chubb
CB
$135B
$112M 1.35%
398,440
-2,928
-0.7% -$806K
IDXX icon
21
Idexx Laboratories
IDXX
$44.1B
$108M 1.3%
168,926
-91
-0.1% -$55.2K
GOOGL icon
22
Alphabet (Google) Class A
GOOGL
$4.08T
$104M 1.26%
429,151
-1,496
-0.3% -$313K
MDY icon
23
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.6B
$100M 1.21%
168,530
-917
-0.5% -$538K
ROP icon
24
Roper Technologies
ROP
$38.5B
$99.6M 1.2%
199,734
-795
-0.4% -$424K
MCD icon
25
McDonald's
MCD
$191B
$93.5M 1.13%
307,613
-3,354
-1% -$1.02M
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.