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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
SHOP icon
326
Shopify
SHOP
$159B
$201K 0.01%
14,500
– –
HAE icon
327
Haemonetics
HAE
$3.85B
$200K 0.01%
2,000
– –
PHYS icon
328
Sprott Physical Gold
PHYS
$14.8B
$178K 0.01%
17,264
– –
SIRI icon
329
SiriusXM
SIRI
$10.4B
$177K 0.01%
3,100
-400
-11% -$24.3K
DMLP icon
330
Dorchester Minerals
DMLP
$1.3B
$176K 0.01%
12,000
-6,000
-33% -$105K
HPE icon
331
Hewlett Packard
HPE
$62.4B
$144K ﹤0.01%
10,883
– –
FORM icon
332
FormFactor
FORM
$8.21B
$141K ﹤0.01%
10,000
– –
KN icon
333
Knowles
KN
$3.08B
$140K ﹤0.01%
10,508
-178
-2% -$2.61K
IBN icon
334
ICICI Bank
IBN
$109B
$113K ﹤0.01%
11,000
– –
AMLP icon
335
Alerian MLP ETF
AMLP
$12.9B
$97K ﹤0.01%
+2,232
New +$109K
EXG icon
336
Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
$2.97B
$91K ﹤0.01%
12,227
– –
VVR icon
337
Invesco Senior Income Trust
VVR
$459M
$39K ﹤0.01%
+10,000
New +$41.3K
NE
338
DELISTED
Noble Corporation
NE
$31K ﹤0.01%
11,950
-4,450
-27% -$21.1K
PLUG icon
339
Plug Power
PLUG
$2.92B
$13K ﹤0.01%
10,250
– –
APA icon
340
APA Corp
APA
$12.8B
– –
-8,867
Closed -$423K
CLB icon
341
Core Laboratories
CLB
$477M
– –
-1,807
Closed -$210K
DXC icon
342
DXC Technology
DXC
$1.82B
– –
-3,566
Closed -$333K
EBAY icon
343
eBay
EBAY
$50.4B
– –
-6,818
Closed -$225K
FDN icon
344
First Trust Dow Jones Internet Index Fund ETF
FDN
$5B
– –
-1,627
Closed -$230K
GXC icon
345
State Street SPDR S&P China ETF
GXC
$460M
– –
-2,320
Closed -$224K
HP icon
346
Helmerich & Payne
HP
$3.37B
– –
-4,200
Closed -$289K
ITT icon
347
ITT
ITT
$17.3B
– –
-3,400
Closed -$208K
LDOS icon
348
Leidos
LDOS
$14.1B
– –
-3,000
Closed -$207K
MAN icon
349
ManpowerGroup
MAN
$2.41B
– –
-2,370
Closed -$204K
MAR icon
350
Marriott International
MAR
$99B
– –
-2,140
Closed -$283K
11 12 13
14
15

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OC
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LGF
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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.