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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
TIF
126
DELISTED
Tiffany & Co.
TIF
$4.45M 0.13%
55,313
-14,933
-21% -$1.52M
BUD icon
127
AB InBev
BUD
$166B
$4.42M 0.12%
67,219
-75,714
-53% -$5.79M
VGK icon
128
Vanguard FTSE Europe ETF
VGK
$30.8B
$4.3M 0.12%
88,417
-19,532
-18% -$1.01M
UNP icon
129
Union Pacific
UNP
$172B
$4.13M 0.12%
29,870
-770
-3% -$114K
NWL icon
130
Newell Brands
NWL
$2.18B
$3.86M 0.11%
207,475
+14,219
+7% +$283K
GIS icon
131
General Mills
GIS
$19.4B
$3.73M 0.11%
95,713
-2,744
-3% -$116K
DXJ icon
132
WisdomTree Japan Hedged Equity Fund
DXJ
$7.13B
$3.45M 0.1%
74,455
-7,895
-10% -$412K
CHTR icon
133
Charter Communications
CHTR
$16.9B
$3.4M 0.1%
11,937
– –
BA icon
134
Boeing
BA
$175B
$3.31M 0.09%
10,272
+150
+1% +$51.8K
TXN icon
135
Texas Instruments
TXN
$255B
$3.3M 0.09%
34,955
+2,804
+9% +$271K
VWO icon
136
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$3.29M 0.09%
86,325
-142,744
-62% -$5.53M
APC
137
DELISTED
Anadarko Petroleum
APC
$3.17M 0.09%
72,434
-2,660
-4% -$150K
ZBH icon
138
Zimmer Biomet
ZBH
$18.4B
$3.12M 0.09%
30,941
– –
VSS icon
139
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.3B
$3.1M 0.09%
32,690
-6,935
-18% -$703K
CI icon
140
Cigna
CI
$76.1B
$3.05M 0.09%
16,069
+1,465
+10% +$306K
CF icon
141
CF Industries
CF
$19.3B
$3.03M 0.09%
69,642
-200
-0.3% -$9.38K
PGR icon
142
Progressive
PGR
$124B
$2.96M 0.08%
49,147
-1,625
-3% -$108K
NEE icon
143
NextEra Energy
NEE
$183B
$2.96M 0.08%
68,000
-76
-0.1% -$3.32K
ICLR icon
144
Icon
ICLR
$12.8B
$2.94M 0.08%
22,781
– –
AGN
145
DELISTED
Allergan plc
AGN
$2.75M 0.08%
20,549
-2,180
-10% -$357K
RPM icon
146
RPM International
RPM
$13.8B
$2.7M 0.08%
45,980
+6,962
+18% +$426K
ADI icon
147
Analog Devices
ADI
$179B
$2.58M 0.07%
29,997
-860
-3% -$74.4K
IWO icon
148
iShares Russell 2000 Growth ETF
IWO
$14.4B
$2.51M 0.07%
14,924
-2,650
-15% -$494K
MORN icon
149
Morningstar
MORN
$7.34B
$2.44M 0.07%
22,171
-450
-2% -$52.7K
MA icon
150
Mastercard
MA
$510B
$2.43M 0.07%
12,875
+5
+0% +$993
4 5
6
7 8

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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.