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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
CDK
276
DELISTED
CDK Global, Inc.
CDK
$351K 0.01%
7,324
+74
+1% +$3.9K
FRC
277
DELISTED
First Republic Bank
FRC
$350K 0.01%
4,031
– –
PEG icon
278
Public Service Enterprise Group
PEG
$38.6B
$336K 0.01%
6,461
+553
+9% +$29.8K
ATO icon
279
Atmos Energy
ATO
$29.1B
$334K 0.01%
3,600
– –
MMP
280
DELISTED
Magellan Midstream Partners, L.P.
MMP
$323K 0.01%
5,660
+2,660
+89% +$164K
BAX icon
281
Baxter International
BAX
$13.8B
$320K 0.01%
4,859
-2,652
-35% -$178K
CEF icon
282
Sprott Physical Gold and Silver Trust
CEF
$7.56B
$315K 0.01%
25,100
– –
FLOT icon
283
iShares Floating Rate Bond ETF
FLOT
$10.2B
$315K 0.01%
6,250
– –
SLY
284
DELISTED
SPDR S&P 600 Small Cap ETF (based on S&P SmallCap 600 Index--symbol SML)
SLY
$312K 0.01%
5,200
– –
INGR icon
285
Ingredion
INGR
$6.33B
$308K 0.01%
3,375
– –
LNC icon
286
Lincoln National
LNC
$8.8B
$308K 0.01%
6,000
– –
CW icon
287
Curtiss-Wright
CW
$26.5B
$306K 0.01%
3,000
– –
XLP icon
288
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.3B
$301K 0.01%
5,927
– –
IGIB icon
289
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.5B
$300K 0.01%
5,730
+1,330
+30% +$69.6K
HIFS icon
290
Hingham Institution for Saving
HIFS
$622M
$297K 0.01%
1,500
– –
PHO icon
291
Invesco Water Resources ETF
PHO
$2B
$296K 0.01%
10,460
– –
KHC icon
292
Kraft Heinz
KHC
$31.3B
$295K 0.01%
6,861
-140
-2% -$7.25K
CPB icon
293
Campbell Soup
CPB
$6.58B
$287K 0.01%
8,709
-5,000
-36% -$189K
MTB icon
294
M&T Bank
MTB
$35.8B
$285K 0.01%
1,990
– –
IVE icon
295
iShares S&P 500 Value ETF
IVE
$49.1B
$284K 0.01%
2,810
– –
VO icon
296
Vanguard Morningstar Mid-Cap ETF
VO
$106B
$283K 0.01%
8,212
– –
WY icon
297
Weyerhaeuser
WY
$16.9B
$278K 0.01%
12,690
-1,267
-9% -$33.7K
TAN icon
298
Invesco Solar ETF
TAN
$1.43B
$277K 0.01%
14,900
– –
VFC icon
299
VF Corp
VFC
$5.87B
$277K 0.01%
+4,126
New +$316K
TFCF
300
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
$275K 0.01%
5,749
– –
10 11
12
13 14

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LGF
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CCM
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CL
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WJWM
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WA
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GGHC
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CCM
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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.