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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
+11.01%
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
$6.62B
AUM Growth
+$572M
Cap. Flow
-$50.6M
Cap. Flow %
-0.76%
Top 10 Hldgs %
31.91%
Holding
376
New
9
Increased
65
Reduced
200
Closed
10

Top Buys

Rank Stock Value
1
MDY icon
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
+$10.5M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$9.97M
3
VLTO icon
Veralto
VLTO
+$9.58M
4
XYL icon
Xylem
XYL
+$4.34M
5
SHOP icon
Shopify
SHOP
+$2.72M

Top Sells

Rank Stock Value
1
DHR icon
Danaher
DHR
+$19M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$10.4M
3
ORLY icon
O'Reilly Automotive
ORLY
+$3.77M
4
USB icon
US Bancorp
USB
+$3.46M
5
VZ icon
Verizon
VZ
+$3.4M

Sector Composition

Rank Sector Weight
1 Technology 25.56%
2 Healthcare 18.14%
3 Financials 11.75%
4 Consumer Discretionary 11.66%
5 Industrials 8.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZBH icon
201
Zimmer Biomet
ZBH
$18.4B
$1.59M 0.02%
13,072
-1,549
-11% -$173K
GLP icon
202
Global Partners
GLP
$1.66B
$1.58M 0.02%
37,420
– –
DVY icon
203
iShares Select Dividend ETF
DVY
$23.6B
$1.58M 0.02%
13,450
-483
-3% -$53.1K
BX icon
204
Blackstone
BX
$102B
$1.57M 0.02%
11,997
– –
BR icon
205
Broadridge
BR
$17.9B
$1.53M 0.02%
7,457
– –
BLK icon
206
Blackrock
BLK
$170B
$1.5M 0.02%
1,849
-3
-0.2% -$2.09K
VEEV icon
207
Veeva Systems
VEEV
$32.7B
$1.49M 0.02%
7,726
+2,623
+51% +$494K
WTS icon
208
Watts Water Technologies
WTS
$11.5B
$1.49M 0.02%
7,138
– –
IWF icon
209
iShares Russell 1000 Growth ETF
IWF
$120B
$1.39M 0.02%
18,400
-120
-0.6% -$8.49K
DEO icon
210
Diageo
DEO
$49.5B
$1.32M 0.02%
9,093
– –
WST icon
211
West Pharmaceutical
WST
$23.9B
$1.31M 0.02%
3,734
+545
+17% +$193K
GNTX icon
212
Gentex
GNTX
$5.03B
$1.28M 0.02%
39,300
-6,050
-13% -$187K
WAT icon
213
Waters Corp
WAT
$37.3B
$1.23M 0.02%
3,744
– –
MKC icon
214
McCormick & Company Non-Voting
MKC
$13.7B
$1.2M 0.02%
17,511
+5,338
+44% +$349K
GM icon
215
General Motors
GM
$80B
$1.19M 0.02%
33,176
-4,087
-11% -$126K
VSS icon
216
Vanguard FTSE All-World ex-US Small-Cap Index Fund
VSS
$11.3B
$1.15M 0.02%
10,040
-400
-4% -$43K
GD icon
217
General Dynamics
GD
$103B
$1.15M 0.02%
4,413
– –
AMAT icon
218
Applied Materials
AMAT
$398B
$1.14M 0.02%
7,041
-7
-0.1% -$1.03K
USMV icon
219
iShares MSCI USA Min Vol Factor ETF
USMV
$23.5B
$1.12M 0.02%
14,345
– –
UL icon
220
Unilever
UL
$141B
$1.11M 0.02%
20,261
-445
-2% -$24K
TGT icon
221
Target
TGT
$65.6B
$1.1M 0.02%
7,715
+71
+0.9% +$8.67K
EEM icon
222
iShares MSCI Emerging Markets ETF
EEM
$28.6B
$1.06M 0.02%
26,427
– –
WEC icon
223
WEC Energy
WEC
$35.9B
$1.03M 0.02%
12,245
-12
-0.1% -$988
WM icon
224
Waste Management
WM
$90.5B
$1.02M 0.02%
5,672
– –
NOW icon
225
ServiceNow
NOW
$114B
$1.02M 0.02%
7,185
+10
+0.1% +$1.26K
7 8
9
10 11

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WJWM
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Welch & Forbes's Q4 2023 Portfolio in Review

As of Q4 2023, Welch & Forbes held 376 positions worth $6.62B, up 9.5% from $6.05B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Welch & Forbes's Q4 2023 filing shows 9 new, 65 increased, 200 reduced and 10 closed positions. Its largest new stake was Veralto: 128,298 shares worth $10.6M. The largest sale was Danaher, an estimated $19M.

By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 24% a quarter earlier, followed by Healthcare and Financials.

  • Welch & Forbes's largest Q4 2023 buy was Veralto: 128,298 shares worth $10.6M.
  • Welch & Forbes added most to State Street SPDR S&P MIDCAP 400 ETF Trust in Q4 2023, an estimated $10.5M increase.
  • Welch & Forbes's biggest Q4 2023 reduction was Danaher, cutting an estimated $19M.
  • Welch & Forbes fully exited Kinsale Capital Group in Q4 2023, selling an estimated $2.39M.
  • Welch & Forbes's ten largest holdings make up 32% of its $6.62B portfolio in Q4 2023.
  • Welch & Forbes opened 9 new positions and closed 10 in Q4 2023.
  • Welch & Forbes's portfolio value rose 9.5% quarter-over-quarter to $6.62B.

Based on Welch & Forbes's 13F filing for Q4 2023, filed 6 Feb 2024.