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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
+5.66%
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
$3.75B
AUM Growth
-$52.5M
Cap. Flow
-$224M
Cap. Flow %
-5.98%
Top 10 Hldgs %
23.33%
Holding
360
New
28
Increased
96
Reduced
143
Closed
22

Top Buys

Rank Stock Value
1
EACQ
Easterly Acquisition Corp
EACQ
+$9.98M
2
AGN
Allergan plc
AGN
+$4.37M
3
PX
Praxair Inc
PX
+$3.81M
4
META icon
Meta Platforms (Facebook)
META
+$2.93M
5
FTSL icon
First Trust Senior Loan Fund ETF
FTSL
+$2.65M

Top Sells

Rank Stock Value
1
ABBV icon
AbbVie
ABBV
+$43M
2
CB icon
Chubb
CB
+$38.8M
3
ABT icon
Abbott
ABT
+$33.4M
4
AFL icon
Aflac
AFL
+$29.1M
5
T icon
AT&T
T
+$18.4M

Sector Composition

Rank Sector Weight
1 Healthcare 17.17%
2 Technology 16.95%
3 Financials 11.91%
4 Industrials 10.71%
5 Consumer Discretionary 9.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MIDD icon
76
Middleby
MIDD
$6.04B
$15.6M 0.42%
115,313
-53,759
-32% -$6.58M
CMI icon
77
Cummins
CMI
$87.5B
$15M 0.4%
84,843
+8,625
+11% +$1.47M
BMY icon
78
Bristol-Myers Squibb
BMY
$133B
$14.1M 0.38%
230,032
-4,069
-2% -$255K
MZTI
79
The Marzetti Company
MZTI
$2.93B
$13.6M 0.36%
105,284
+108
+0.1% +$13.6K
SU icon
80
Suncor Energy
SU
$79.4B
$13.2M 0.35%
360,814
-1,162
-0.3% -$40.4K
VEA icon
81
Vanguard FTSE Developed Markets ETF
VEA
$229B
$13.1M 0.35%
291,281
+24,346
+9% +$1.08M
BEN icon
82
Franklin Resources
BEN
$17.6B
$12.8M 0.34%
295,555
-2,880
-1% -$125K
LLY icon
83
Eli Lilly
LLY
$1.02T
$12.3M 0.33%
145,968
+1,123
+0.8% +$95.6K
SYY icon
84
Sysco
SYY
$40.8B
$12.1M 0.32%
198,635
+388
+0.2% +$22K
WMT icon
85
Walmart Inc
WMT
$885B
$12M 0.32%
363,948
+660
+0.2% +$20.2K
EW icon
86
Edwards Lifesciences
EW
$49.6B
$11.9M 0.32%
317,751
-15,195
-5% -$558K
EMR icon
87
Emerson Electric
EMR
$83.9B
$11.9M 0.32%
170,903
-127
-0.1% -$8.23K
HAIN icon
88
Hain Celestial
HAIN
$45M
$11.8M 0.31%
278,290
-1,875
-0.7% -$74.3K
SRCL
89
DELISTED
Stericycle Inc
SRCL
$11.7M 0.31%
172,705
-54,227
-24% -$3.68M
QCOM icon
90
Qualcomm
QCOM
$155B
$11.5M 0.31%
179,375
-15,024
-8% -$911K
GILD icon
91
Gilead Sciences
GILD
$162B
$11.3M 0.3%
157,596
-2,792
-2% -$212K
EACQ
92
DELISTED
Easterly Acquisition Corp
EACQ
$10M 0.27%
+994,036
New +$9.98M
BSX icon
93
Boston Scientific
BSX
$69.5B
$9.97M 0.27%
402,170
+500
+0.1% +$13.8K
VWO icon
94
Vanguard FTSE Emerging Markets ETF
VWO
$121B
$9.92M 0.26%
216,178
+59,062
+38% +$2.64M
SPY icon
95
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$9.73M 0.26%
36,468
-89
-0.2% -$23.1K
UPS icon
96
United Parcel Service
UPS
$88.6B
$9.38M 0.25%
78,695
-1,071
-1% -$126K
NVS icon
97
Novartis
NVS
$297B
$9.26M 0.25%
123,108
+973
+0.8% +$73.4K
BIV icon
98
Vanguard Intermediate-Term Bond ETF
BIV
$28.8B
$8.97M 0.24%
106,959
-2,315
-2% -$195K
APD icon
99
Air Products & Chemicals
APD
$65.7B
$8.72M 0.23%
53,149
+278
+0.5% +$44.3K
LECO icon
100
Lincoln Electric
LECO
$14.2B
$8.63M 0.23%
94,191
+10,325
+12% +$944K
2 3
4
5 6

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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 2017 Portfolio in Review

As of Q4 2017, Welch & Forbes held 360 positions worth $3.75B, down 1.4% from $3.8B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Welch & Forbes withdrew a net $224M in Q4 2017, closing 22 positions and reducing 143 holdings. Its most notable exit was AbbVie, an estimated $43M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 20% a quarter earlier, followed by Technology and Financials.

Against the trend, Welch & Forbes opened a new position in Easterly Acquisition Corp worth $10M.

  • Welch & Forbes's largest Q4 2017 buy was Easterly Acquisition Corp: 994,036 shares worth $10M.
  • Welch & Forbes added most to Praxair Inc in Q4 2017, an estimated $3.81M increase.
  • Welch & Forbes's biggest Q4 2017 reduction was GE Aerospace, cutting an estimated $8.07M.
  • Welch & Forbes fully exited AbbVie in Q4 2017, selling an estimated $43M.
  • Welch & Forbes's ten largest holdings make up 23% of its $3.75B portfolio in Q4 2017.
  • Welch & Forbes opened 28 new positions and closed 22 in Q4 2017.
  • Welch & Forbes's portfolio value fell 1.4% quarter-over-quarter to $3.75B.

Based on Welch & Forbes's 13F filing for Q4 2017, filed 26 Jan 2018.