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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
NVS icon
101
Novartis
NVS
$301B
$7.98M 0.23%
103,827
-53
-0.1% -$4.13K
STZ icon
102
Constellation Brands
STZ
$22.3B
$7.88M 0.22%
48,983
-15,263
-24% -$3.03M
AMGN icon
103
Amgen
AMGN
$209B
$7.56M 0.21%
38,826
-828
-2% -$162K
COP icon
104
ConocoPhillips
COP
$145B
$7.41M 0.21%
118,867
-2,078
-2% -$141K
SBUX icon
105
Starbucks
SBUX
$121B
$7.38M 0.21%
114,562
-7,486
-6% -$469K
IGSB icon
106
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23B
$7.31M 0.21%
141,478
-152,182
-52% -$7.85M
UPS icon
107
United Parcel Service
UPS
$89.5B
$7.3M 0.21%
74,883
-621
-0.8% -$67.3K
CTAS icon
108
Cintas
CTAS
$82.7B
$6.97M 0.2%
165,980
+560
+0.3% +$25K
CVGW
109
DELISTED
Calavo Growers
CVGW
$6.89M 0.19%
94,432
-6,969
-7% -$651K
ADBE icon
110
Adobe
ADBE
$98.5B
$6.38M 0.18%
28,213
+15,712
+126% +$3.79M
EOG icon
111
EOG Resources
EOG
$77.5B
$6.09M 0.17%
69,860
+721
+1% +$77.2K
CL icon
112
Colgate-Palmolive
CL
$73.3B
$5.85M 0.16%
98,272
-1,620
-2% -$101K
GE icon
113
GE Aerospace
GE
$368B
$5.73M 0.16%
157,944
-28,277
-15% -$1.28M
MIDD icon
114
Middleby
MIDD
$6.03B
$5.68M 0.16%
55,279
-3,479
-6% -$396K
ORCL icon
115
Oracle
ORCL
$367B
$5.63M 0.16%
124,735
-5,485
-4% -$263K
BIV icon
116
Vanguard Intermediate-Term Bond ETF
BIV
$28.9B
$5.6M 0.16%
68,872
-21,012
-23% -$1.68M
BP icon
117
BP
BP
$114B
$5.3M 0.15%
144,203
-1,600
-1% -$63.9K
WBA
118
DELISTED
Walgreens Boots Alliance
WBA
$5.21M 0.15%
76,178
+354
+0.5% +$27.5K
IWM icon
119
iShares Russell 2000 ETF
IWM
$80.2B
$5.17M 0.15%
38,619
-1,845
-5% -$275K
CAT icon
120
Caterpillar
CAT
$373B
$5.04M 0.14%
39,634
-927
-2% -$121K
KMB icon
121
Kimberly-Clark
KMB
$36.6B
$5.01M 0.14%
43,972
-554
-1% -$61.5K
TSCO icon
122
Tractor Supply
TSCO
$15.8B
$4.69M 0.13%
281,010
+2,400
+0.9% +$43K
DD icon
123
DuPont de Nemours
DD
$18.7B
$4.67M 0.13%
34,467
-3,275
-9% -$470K
SHW icon
124
Sherwin-Williams
SHW
$83.7B
$4.64M 0.13%
35,352
-6,090
-15% -$822K
VEU icon
125
Vanguard FTSE All-World ex-US ETF
VEU
$66.8B
$4.61M 0.13%
101,160
-2,020
-2% -$97K
3 4
5
6 7

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OC
Oppenheimer & Co New York $8.21B AUM 28.81% 1-Year Est. Return
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
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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.