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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
-11.28%
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
$3.55B
AUM Growth
-$648M
Cap. Flow
-$120M
Cap. Flow %
-3.38%
Top 10 Hldgs %
24.58%
Holding
367
New
7
Increased
73
Reduced
160
Closed
28

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$10.4M
2
MSFT icon
Microsoft
MSFT
+$4.97M
3
MTD icon
Mettler-Toledo International
MTD
+$4.5M
4
RMD icon
ResMed
RMD
+$3.95M
5
ADBE icon
Adobe
ADBE
+$3.79M

Top Sells

Rank Stock Value
1
PX
Praxair Inc
PX
+$37.8M
2
SLB icon
SLB Ltd
SLB
+$9.29M
3
NVDA icon
NVIDIA
NVDA
+$9.02M
4
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$7.85M
5
BUD icon
AB InBev
BUD
+$5.79M

Sector Composition

Rank Sector Weight
1 Healthcare 21.38%
2 Technology 17.47%
3 Financials 12.26%
4 Consumer Discretionary 10.53%
5 Industrials 8.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWD icon
251
iShares Russell 1000 Value ETF
IWD
$81.8B
$475K 0.01%
4,285
– –
VIG icon
252
Vanguard Dividend Appreciation ETF
VIG
$112B
$462K 0.01%
4,718
– –
ILMN icon
253
Illumina
ILMN
$31B
$460K 0.01%
1,576
– –
WLY icon
254
John Wiley & Sons Class A
WLY
$2.66B
$456K 0.01%
9,707
– –
WTM icon
255
White Mountains Insurance
WTM
$5.25B
$450K 0.01%
525
-21
-4% -$18.7K
BEN icon
256
Franklin Resources
BEN
$17.2B
$445K 0.01%
15,000
-5,865
-28% -$180K
HSY icon
257
Hershey
HSY
$35.9B
$439K 0.01%
4,100
– –
A icon
258
Agilent Technologies
A
$39.2B
$430K 0.01%
6,371
– –
GD icon
259
General Dynamics
GD
$103B
$420K 0.01%
2,668
-55
-2% -$9.86K
NVO
260
Novo Nordisk
NVO
$228B
$420K 0.01%
18,250
-300
-2% -$6.67K
PTC icon
261
PTC
PTC
$15.7B
$415K 0.01%
5,000
– –
VB icon
262
Vanguard Morningstar Small-Cap ETF
VB
$79.6B
$413K 0.01%
3,135
– –
PAYC icon
263
Paycom
PAYC
$7.53B
$411K 0.01%
3,360
– –
AGG icon
264
iShares Core US Aggregate Bond ETF
AGG
$138B
$405K 0.01%
3,800
+65
+2% +$6.82K
WCN
265
Waste Connections
WCN
$41.9B
$405K 0.01%
5,460
– –
PANW icon
266
Palo Alto Networks
PANW
$265B
$401K 0.01%
12,768
– –
K
267
DELISTED
Kellanova
K
$398K 0.01%
7,432
-106
-1% -$6.4K
UN
268
DELISTED
Unilever NV New York Registry Shares
UN
$398K 0.01%
7,400
– –
MOO icon
269
VanEck Agribusiness ETF
MOO
$994M
$396K 0.01%
6,950
– –
CSX icon
270
CSX Corp
CSX
$93B
$382K 0.01%
18,453
– –
BLK icon
271
Blackrock
BLK
$170B
$377K 0.01%
960
-9
-0.9% -$3.69K
TRV icon
272
Travelers Companies
TRV
$78.4B
$377K 0.01%
3,150
+661
+27% +$82.7K
AMG icon
273
Affiliated Managers Group
AMG
$9.65B
$366K 0.01%
3,761
-3
-0.1% -$339
ENB icon
274
Enbridge
ENB
$121B
$358K 0.01%
11,530
+1,438
+14% +$46.2K
WEX icon
275
WEX
WEX
$6.35B
$354K 0.01%
2,525
– –
9 10
11
12 13

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OC
Oppenheimer & Co New York $8.21B AUM 28.81% 1-Year Est. Return
LGF
LGT Group Foundation Vaduz, Liechtenstein $8.19B AUM 27.7% 1-Year Est. Return
CCM
Causeway Capital Management Los Angeles, California $8.15B AUM 29.28% 1-Year Est. Return
CL
Choreo LLC Rockford, Illinois $8.15B AUM 20.12% 1-Year Est. Return
WJWM
Williams Jones Wealth Management New York $8.14B AUM 19.32% 1-Year Est. Return
WA
Whitebox Advisors Minneapolis, Minnesota $8.12B AUM 15.85% 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

Welch & Forbes's Q4 2018 Portfolio in Review

As of Q4 2018, Welch & Forbes held 367 positions worth $3.55B, down 15% from $4.2B the previous quarter. Its ten largest holdings account for 25% of the portfolio.

Welch & Forbes withdrew a net $120M in Q4 2018, closing 28 positions and reducing 160 holdings. Its most notable exit was Praxair Inc, an estimated $37.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 21% of assets, up from 20% a quarter earlier, followed by Technology and Financials.

Against the trend, Welch & Forbes opened a new position in Watsco Inc worth $2.3M.

  • Welch & Forbes's largest Q4 2018 buy was Watsco Inc: 16,518 shares worth $2.3M.
  • Welch & Forbes added most to Amazon in Q4 2018, an estimated $10.4M increase.
  • Welch & Forbes's biggest Q4 2018 reduction was SLB Ltd, cutting an estimated $9.29M.
  • Welch & Forbes fully exited Praxair Inc in Q4 2018, selling an estimated $37.8M.
  • Welch & Forbes's ten largest holdings make up 25% of its $3.55B portfolio in Q4 2018.
  • Welch & Forbes opened 7 new positions and closed 28 in Q4 2018.
  • Welch & Forbes's portfolio value fell 15% quarter-over-quarter to $3.55B.

Based on Welch & Forbes's 13F filing for Q4 2018, filed 5 Feb 2019.