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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
+384.92%
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
NVDA icon
1
NVIDIA
NVDA
$4.72T
$622M 7.54%
3,337,312
-124,836
-4% -$23.2M
AAPL icon
2
Apple
AAPL
$4.9T
$463M 5.61%
1,702,197
-20,093
-1% -$5.39M
MSFT icon
3
Microsoft
MSFT
$3.35T
$429M 5.2%
887,460
-7,328
-0.8% -$3.67M
GOOG icon
4
Alphabet (Google) Class C
GOOG
$4.08T
$372M 4.51%
1,186,866
-16,422
-1% -$4.7M
ORLY icon
5
O'Reilly Automotive
ORLY
$72.4B
$262M 3.17%
2,869,787
-15,119
-0.5% -$1.48M
V icon
6
Visa
V
$673B
$255M 3.08%
725,722
-1,495
-0.2% -$509K
JPM icon
7
JPMorgan Chase
JPM
$933B
$215M 2.6%
665,957
-5,331
-0.8% -$1.65M
RTX icon
8
RTX Corp
RTX
$289B
$206M 2.5%
1,123,240
-18,276
-2% -$3.17M
LLY icon
9
Eli Lilly
LLY
$1.03T
$180M 2.19%
167,818
-378
-0.2% -$361K
SYK icon
10
Stryker
SYK
$133B
$180M 2.18%
512,479
-1,143
-0.2% -$416K
HD icon
11
Home Depot
HD
$332B
$147M 1.79%
428,480
+1,003
+0.2% +$367K
DHR icon
12
Danaher
DHR
$138B
$142M 1.72%
618,995
-3,094
-0.5% -$680K
COST icon
13
Costco
COST
$423B
$140M 1.7%
162,345
+352
+0.2% +$319K
JNJ icon
14
Johnson & Johnson
JNJ
$617B
$139M 1.68%
670,094
-5,761
-0.9% -$1.14M
GOOGL icon
15
Alphabet (Google) Class A
GOOGL
$4.08T
$132M 1.6%
421,125
-8,026
-2% -$2.29M
AMZN icon
16
Amazon
AMZN
$2.53T
$130M 1.57%
563,166
+13,042
+2% +$2.98M
ECL icon
17
Ecolab
ECL
$78.6B
$124M 1.5%
472,164
-1,418
-0.3% -$378K
CB icon
18
Chubb
CB
$135B
$123M 1.49%
393,955
-4,485
-1% -$1.31M
TJX icon
19
TJX Companies
TJX
$176B
$120M 1.45%
777,967
-2,773
-0.4% -$410K
IDXX icon
20
Idexx Laboratories
IDXX
$44.1B
$114M 1.38%
168,282
-644
-0.4% -$439K
PG icon
21
Procter & Gamble
PG
$335B
$110M 1.33%
768,228
-19,647
-2% -$2.9M
MDY icon
22
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.6B
$101M 1.22%
166,753
-1,777
-1% -$1.06M
VRTX icon
23
Vertex Pharmaceuticals
VRTX
$122B
$98.9M 1.2%
218,198
-2,148
-1% -$926K
MCD icon
24
McDonald's
MCD
$191B
$93.6M 1.13%
306,406
-1,207
-0.4% -$370K
ROP icon
25
Roper Technologies
ROP
$38.5B
$86.6M 1.05%
194,463
-5,271
-3% -$2.44M
1
2 3 4 5

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CCM
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CL
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WJWM
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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.