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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
LNT icon
151
Alliant Energy
LNT
$18.3B
$2.4M 0.07%
56,900
– –
EEM icon
152
iShares MSCI Emerging Markets ETF
EEM
$28.6B
$2.4M 0.07%
61,362
-3,460
-5% -$139K
LOW icon
153
Lowe's Companies
LOW
$118B
$2.36M 0.07%
25,588
+2,247
+10% +$217K
IAU icon
154
iShares Gold Trust
IAU
$63.8B
$2.33M 0.07%
94,771
-1,300
-1% -$30.6K
WSO icon
155
Watsco Inc
WSO
$12.8B
$2.3M 0.06%
+16,518
New +$2.52M
ITW icon
156
Illinois Tool Works
ITW
$81.6B
$2.21M 0.06%
17,402
+881
+5% +$116K
NOC icon
157
Northrop Grumman
NOC
$76B
$2.18M 0.06%
8,900
-388
-4% -$107K
BSV icon
158
Vanguard Short-Term Bond ETF
BSV
$44.7B
$2.18M 0.06%
27,689
-2,265
-8% -$177K
NOV icon
159
NOV
NOV
$6.93B
$2.11M 0.06%
82,250
+1,715
+2% +$59.3K
SRCL
160
DELISTED
Stericycle Inc
SRCL
$2.1M 0.06%
57,288
-4,400
-7% -$207K
CHX
161
DELISTED
ChampionX
CHX
$2.05M 0.06%
75,784
-3,046
-4% -$112K
BIIB icon
162
Biogen
BIIB
$30.7B
$2.03M 0.06%
6,743
-240
-3% -$76.6K
MCO icon
163
Moody's
MCO
$83.5B
$2.01M 0.06%
14,338
– –
EFA icon
164
iShares MSCI EAFE ETF
EFA
$78.5B
$1.92M 0.05%
32,715
-1,025
-3% -$64K
VOO icon
165
Vanguard S&P 500 ETF
VOO
$972B
$1.88M 0.05%
8,200
– –
VAR
166
DELISTED
Varian Medical Systems, Inc.
VAR
$1.7M 0.05%
15,001
-672
-4% -$76.8K
IJH icon
167
iShares Core S&P Mid-Cap ETF
IJH
$122B
$1.69M 0.05%
51,005
+11,815
+30% +$431K
DVY icon
168
iShares Select Dividend ETF
DVY
$23.6B
$1.67M 0.05%
18,660
-3,285
-15% -$315K
HON icon
169
Honeywell
HON
$76.7B
$1.61M 0.05%
12,935
-612
-5% -$83.5K
MUI
170
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$1.61M 0.05%
127,150
– –
BABA icon
171
Alibaba
BABA
$279B
$1.59M 0.05%
11,641
-3,680
-24% -$544K
PM icon
172
Philip Morris
PM
$299B
$1.57M 0.04%
23,558
+2,665
+13% +$223K
SRLN icon
173
State Street Blackstone Senior Loan ETF
SRLN
$5.3B
$1.53M 0.04%
+34,230
New +$1.59M
HAIN icon
174
Hain Celestial
HAIN
$44.4M
$1.48M 0.04%
93,225
-133,173
-59% -$2.96M
MAS icon
175
Masco
MAS
$14.2B
$1.43M 0.04%
48,955
-5,327
-10% -$166K
5 6
7
8 9

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OC
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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.