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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Welch Group, LLC

Quarter ended Q1 2025 · Filed April 8, 2025 · Accession 0001443095-25-000003

Total Value
$2.27B
Positions
266
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (266)

#IssuerTicker / CUSIPSharesValue% of Filing
1SERVISFIRST BANCSHARES INCSFBS974,185$79.8M3.51%
2APPLE INCAAPL360,722$78.6M3.46%
3MICROSOFT CORPMSFT203,897$77.2M3.40%
4GALLAGHER ARTHUR J & CO363576109225,825$77.0M3.38%
5ABBVIE INCABBV362,012$74.3M3.27%
6INTERNATIONAL BUSINESS MACHSINTR301,213$73.5M3.23%
7SOUTHERN COSOMN766,450$69.8M3.07%
8JPMORGAN CHASE & CO.VYLD284,147$69.0M3.04%
9RTX CORPORATIONRTX522,020$68.8M3.02%
10CHEVRON CORP NEWCVX410,177$68.1M3.00%
11MCDONALDS CORPMCD203,824$62.6M2.75%
12EXXON MOBIL CORPXOM527,239$62.1M2.73%
13HOME DEPOT INCHD172,569$61.8M2.72%
14JOHNSON & JOHNSONJNJ372,781$61.0M2.68%
15COLGATE PALMOLIVE COCL655,352$60.8M2.68%
16PAYCHEX INCPAYX398,409$60.2M2.65%
17NEXTERA ENERGY INCNEE-PW835,011$58.8M2.59%
18CINCINNATI FINL CORP172062101398,679$58.0M2.55%
19CISCO SYS INCCSCO944,561$57.5M2.53%
20PROCTER AND GAMBLE CO742718109333,073$56.0M2.46%
21CONSOLIDATED EDISON INCED513,393$55.8M2.46%
22QUALCOMM INCQCOM362,799$55.4M2.44%
23LOCKHEED MARTIN CORPLMT124,203$54.8M2.41%
24PEPSICO INCPEP350,706$52.3M2.30%
25EMERSON ELEC COEMR474,075$51.5M2.27%
26KIMBERLY-CLARK CORPKMB363,350$51.1M2.25%
27VERIZON COMMUNICATIONS INCVZ1,137,904$51.1M2.25%
28TRUIST FINL CORP89832Q1091,254,371$50.8M2.23%
29PFIZER INCPFE1,826,932$46.1M2.03%
30GENERAL MLS INC370334104763,572$45.1M1.99%
31TEXAS INSTRS INC882508104245,860$43.4M1.91%
32NVIDIA CORPORATIONNVDA179,394$19.7M0.87%
33COCA COLA COKO256,665$18.1M0.79%
34CATERPILLAR INCCAT37,970$12.5M0.55%
35VISA INCV34,716$11.9M0.52%
36DEERE & CODE25,125$11.7M0.51%
37AMAZON COM INCAMZN58,213$11.2M0.49%
38ISHARES TR46428720017,603$9.8M0.43%
39ALPHABET INCGOOG61,795$9.5M0.42%
40ABBOTT LABSABLZF70,553$9.2M0.41%
41ORACLE CORPORCL-PD63,107$8.9M0.39%
42AFLAC INCAFL79,800$8.8M0.39%
43META PLATFORMS INCMETA15,098$8.7M0.38%
44GOLDMAN SACHS GROUP INCGSCE15,903$8.6M0.38%
45BLACKSTONE INCBX59,206$8.2M0.36%
46TJX COS INC NEW87254010968,904$8.1M0.36%
47MASTERCARD INCORPORATEDMA15,002$8.1M0.36%
48STRYKER CORPORATIONSYK20,763$7.6M0.33%
49SHERWIN WILLIAMS COSHW22,005$7.5M0.33%
50CARRIER GLOBAL CORPORATIONCARR103,549$6.6M0.29%
51ACCENTURE PLC IRELANDACN21,415$6.5M0.29%
52ADVANCED MICRO DEVICES INCAMD62,616$6.5M0.28%
53VULCAN MATLS CO92916010927,399$6.4M0.28%
54GLOBE LIFE INCGL-PD47,705$6.2M0.27%
55TARGET CORPTGT53,887$5.6M0.25%
56ELI LILLY & COLLY6,435$5.3M0.23%
57AMERICAN EXPRESS COAXP18,809$5.0M0.22%
58BROADCOM INCAVGO28,464$4.8M0.21%
59WALMART INCWMT47,134$4.0M0.18%
60VANGUARD INDEX FDS9229083637,604$3.9M0.17%
61PHILIP MORRIS INTL INC71817210921,597$3.4M0.15%
62SYNOVUS FINL CORP87161C50167,843$3.1M0.14%
63REGIONS FINANCIAL CORP NEWRF-PF135,160$2.9M0.13%
64MERCK & CO INCMRK31,867$2.8M0.13%
65VANGUARD SCOTTSDALE FDS92206C10244,013$2.6M0.11%
66AT&T INCT-PC86,351$2.4M0.11%
67ALTRIA GROUP INCMO40,993$2.4M0.10%
68SPDR GOLD TRGLD7,596$2.2M0.09%
69ISHARES TR46428745725,192$2.1M0.09%
70SPDR S&P 500 ETF TRSPY3,700$2.1M0.09%
71AON PLCAON5,129$2.0M0.09%
72GRACO INCGGG23,791$2.0M0.09%
73REPUBLIC SVCS INC7607591008,122$1.9M0.09%
74ALPHABET INCGOOG12,215$1.9M0.08%
75INVESCO QQQ TRIVZ3,729$1.7M0.08%
76COSTCO WHSL CORP NEW22160K1051,848$1.7M0.08%
77MUELLER INDS INC62475610222,000$1.7M0.07%
78CRANE COMPANYCR11,000$1.7M0.07%
79WELLTOWER INCWELL10,700$1.6M0.07%
80HONEYWELL INTL INC4385161067,383$1.6M0.07%
81WASTE MGMT INC DEL94106L1096,788$1.5M0.07%
82GENUINE PARTS COGPC13,016$1.5M0.07%
83WELLS FARGO CO NEW94974610121,461$1.5M0.07%
84DUKE ENERGY CORP NEWDUKB12,319$1.5M0.06%
85NORTHROP GRUMMAN CORPNOC2,870$1.5M0.06%
86BANK NEW YORK MELLON CORP06405810016,936$1.4M0.06%
87MONDELEZ INTL INC60920710518,766$1.3M0.06%
88ONEOK INC NEWOKE12,269$1.2M0.05%
89GATX CORPGATX7,512$1.2M0.05%
90BANK AMERICA CORP06050510428,011$1.2M0.05%
91SPDR SER TR78468R66312,394$1.1M0.05%
92TEXTRON INCTXT15,400$1.1M0.05%
93WATTS WATER TECHNOLOGIES INCWTS5,400$1.1M0.05%
94VANGUARD SCOTTSDALE FDS92206C7304,237$1.1M0.05%
95NOVARTIS AGNVSEF9,446$1.1M0.05%
96CONOCOPHILLIPSCOP10,350$1.1M0.05%
97MODINE MFG CO60782810013,000$1.0M0.05%
98UNITED CMNTY BKS BLAIRSVLE GUNTCW34,558$960,7130.04%
99DISNEY WALT CO2546871069,562$937,7020.04%
100XYLEM INCXYL7,800$931,6320.04%
101ATLANTA BRAVES HLDGS INCBATRB20,976$924,2030.04%
102AMERICAN ELEC PWR CO INC0255371018,167$873,5270.04%
103BANCO BILBAO VIZCAYA ARGENTABBVXF63,173$867,3660.04%
104HERC HLDGS INCHRI6,168$856,9210.04%
105PACER FDS TR69374H10516,472$844,5200.04%
106NETFLIX INCNFLX897$837,6640.04%
107TESLA INCTSLA3,115$820,9630.04%
108CHUBB LIMITEDCB2,646$784,3810.03%
109YUM BRANDS INCYUM4,948$770,6960.03%
110NATIONAL FUEL GAS CONFG9,700$764,3600.03%
111UNITED STATES CELLULAR CORPUNTCW11,000$762,9600.03%
112VANGUARD WHITEHALL FDS9219464065,928$756,1170.03%
113STATE STR CORPSTT-PG8,348$743,3060.03%
114UNITED RENTALS INCURI1,145$718,6600.03%
115ROYAL BK CDA7800871026,390$716,5750.03%
116EATON CORP PLCETN2,607$714,7620.03%
117BLACKROCK INCBLK751$711,0140.03%
118CNH INDL N VN2094410958,118$708,4590.03%
119SELECT SECTOR SPDR TR81369Y8033,410$703,7220.03%
120DIAMONDBACK ENERGY INCFANG4,383$690,5280.03%
121IDEX CORP45167R1043,700$669,3670.03%
122ISHARES SILVER TRSLV21,567$668,5770.03%
123ENPRO INCNPO4,000$652,9600.03%
124VANGUARD INDEX FDS9229086292,515$646,7510.03%
125UNILEVER PLCUNLYF10,747$635,9890.03%
126SONY GROUP CORPSNEJF25,000$627,2500.03%
127REAVES UTIL INCOME FD75615810119,017$617,4820.03%
128BRISTOL-MYERS SQUIBB COCELG-RI10,210$612,7970.03%
129ARCOSA INCACA7,500$599,7750.03%
130ENERGY TRANSFER L PET-PI31,854$595,9950.03%
131ZIMMER BIOMET HOLDINGS INCZBH5,208$584,6490.03%
132DIAGEO PLCDGEAF5,500$579,5900.03%
133NEWMONT CORPNEMCL12,026$578,2110.03%
134STARBUCKS CORPSBUX5,881$574,7790.03%
135VANGUARD INDEX FDS9229087361,539$570,0920.03%
136PACCAR INCPCAR5,829$564,8890.02%
137GENERAL DYNAMICS CORPGD2,027$545,4260.02%
138CRESCENT ENERGY COMPANYCRGY48,396$539,1320.02%
139SELECT SECTOR SPDR TR81369Y5065,763$532,6530.02%
140ENTERGY CORP NEWENO6,092$514,2260.02%
141VANGUARD INDEX FDS9229087691,844$504,0810.02%
142VANECK ETF TRUST92189F6762,333$494,9930.02%
143MARTIN MARIETTA MATLS INC5732841061,035$494,7300.02%
144GLOBAL PMTS INC37940X1025,058$493,2570.02%
145PNC FINL SVCS GROUP INC6934751052,826$485,7330.02%
146RYMAN HOSPITALITY PPTYS INC78377T1075,250$481,7930.02%
147FLOWSERVE CORPFLS9,850$480,4830.02%
148MADISON SQUARE GRDN SPRT COR55825T1032,439$475,5320.02%
149VANGUARD SPECIALIZED FUNDS9219088442,464$472,9890.02%
150AUTOMATIC DATA PROCESSING INADP1,546$465,0970.02%
151VANGUARD WORLD FD92204A702852$462,7870.02%
152UNION PAC CORPUNP1,973$458,0320.02%
153SCHWAB STRATEGIC TR80852477119,536$456,7520.02%
154KRAFT HEINZ COKHC14,989$453,2670.02%
155BOEING COBA-PA2,610$452,2740.02%
156BOSTON SCIENTIFIC CORPBSX4,482$445,3320.02%
157ENTERPRISE PRODS PARTNERS L29379210712,933$440,7720.02%
158SALESFORCE INCCRM1,630$440,0520.02%
159ISHARES TR4642871683,259$432,5820.02%
160NORFOLK SOUTHN CORP6558441081,875$432,3760.02%
161PHILLIPS 66PSX3,506$426,8560.02%
162MICRON TECHNOLOGY INCMU4,806$425,0110.02%
163IDACORP INCIDA3,656$420,2210.02%
164SIMON PPTY GROUP INC NEW8288061092,520$413,9320.02%
165ISHARES TR4642873094,467$413,4210.02%
166DOMINION ENERGY INCD7,361$404,7820.02%
167CAPITAL ONE FINL CORP14040H1052,331$404,4990.02%
168AGNICO EAGLE MINES LTDAEM3,752$402,8150.02%
169FIRSTENERGY CORPFE10,003$400,7370.02%
170CHEMED CORP NEWCHE660$399,7620.02%
171KELLANOVABEKE4,826$397,9830.02%
172ISHARES TR4642888106,630$393,9550.02%
173POST HLDGS INCPOST3,400$391,3400.02%
174IRON MTN INC DEL46284V1014,531$385,5890.02%
175PALANTIR TECHNOLOGIES INCPLTR4,485$385,0380.02%
176SCHWAB STRATEGIC TR80852472214,380$384,9420.02%
177SELECT SECTOR SPDR TR81369Y8523,979$380,9710.02%
178OREILLY AUTOMOTIVE INC67103H107264$371,8580.02%
179NASDAQ INCNDAQ4,947$370,5800.02%
180INVESCO EXCHANGE TRADED FD TIVZ9,180$367,6590.02%
181EVERSOURCE ENERGYES5,936$362,8090.02%
182VANGUARD WORLD FD9219108402,822$359,1990.02%
183GRIFFON CORPGFF5,000$352,3500.02%
184RENAISSANCERE HLDGS LTDRNR-PG1,450$351,4510.02%
185XCEL ENERGY INCXELLL4,989$347,8340.02%
186MARATHON PETE CORPMARA2,350$338,6350.01%
187AIR PRODS & CHEMS INCAIIR1,157$338,0770.01%
188GILEAD SCIENCES INCGILD3,007$336,1530.01%
189ALLSTATE CORPALL-PJ1,599$330,1140.01%
190KINDER MORGAN INC DELEP-PC11,541$327,4060.01%
191TRINITY INDS INC89652210911,500$327,1750.01%
192NUCOR CORPNUE2,676$326,3090.01%
193ISHARES TR4642875075,513$320,9120.01%
194CLOROX CO DELCLX2,193$320,7930.01%
195VALMONT INDS INC9202531011,100$318,5160.01%
196INTEL CORPINTC14,003$318,0100.01%
197ALIBABA GROUP HLDG LTDBBAAY2,345$310,5490.01%
198ITT INCITT2,402$309,1120.01%
199INTERNATIONAL PAPER CO4601461035,796$308,4060.01%
200ANNALY CAPITAL MANAGEMENT INNLY-PJ14,473$299,0170.01%
201NORTHERN TR CORPNTRSO3,066$297,8620.01%
202HALLIBURTON COHAL11,845$296,9510.01%
203AZZ INCAZZ3,500$294,0000.01%
204SMUCKER J M CO8326964052,523$293,5070.01%
205ISHARES TR4642876551,463$293,2590.01%
206GE AEROSPACE3696043011,453$290,3570.01%
207DOW INCDOW8,342$286,6380.01%
208CRANE NXT COCXT5,500$282,3700.01%
209FORTUNE BRANDS INNOVATIONS IFBIN4,621$281,0500.01%
210VANGUARD WORLD FD92204A3062,167$278,2430.01%
211BLUE OWL CAPITAL CORPORATIONOWL18,263$274,6830.01%
212TEGNA INC87901J10515,000$271,3500.01%
213AMERICAN COASTAL INS CORPACIC23,288$268,5110.01%
214SENSIENT TECHNOLOGIES CORPSXT3,600$264,9600.01%
215VANGUARD INDEX FDS9229087441,542$263,4200.01%
216SCHLUMBERGER LTDSLB6,263$262,2820.01%
217AMGEN INCAMGN853$261,8890.01%
218PROASSURANCE CORPPRA10,815$252,4310.01%
219MORGAN STANLEYMS-PQ2,187$252,2270.01%
220J P MORGAN EXCHANGE TRADED F46641Q3324,419$250,4460.01%
221SHELL PLCRYDAF3,407$247,8120.01%
222LOWES COS INC5486611071,079$246,4660.01%
223AMEREN CORPAEE2,460$245,2620.01%
224APPLIED MATLS INC0382221051,671$242,4260.01%
225VANGUARD INDEX FDS9229086521,365$236,1180.01%
226MEDICAL PPTYS TRUST INC58463J30438,830$234,5360.01%
227PPG INDS INC6935061072,169$233,0380.01%
228VANGUARD WORLD FD921910816743$229,2520.01%
229INTUITIVE SURGICAL INCISRG457$224,7710.01%
230SCHWAB STRATEGIC TR8085247978,100$223,4030.01%
231J P MORGAN EXCHANGE TRADED F46641Q3992,227$223,3930.01%
232CONAGRA BRANDS INCCAG8,335$221,2950.01%
233ISHARES TR464287101820$220,7690.01%
234VANGUARD WORLD FD92204A4051,868$220,4620.01%
235REGENERON PHARMACEUTICALSREGN345$219,8900.01%
236INGERSOLL RAND INCIR2,741$217,7640.01%
237EDGEWELL PERS CARE CO28035Q1027,000$214,5500.01%
238TECK RESOURCES LTDTCKRF5,700$213,4650.01%
239COMCAST CORP NEWCCZ5,775$211,4810.01%
240ADOBE INCADBE542$209,0550.01%
241CARDINAL HEALTH INCCAH1,528$208,4810.01%
242ENERGIZER HLDGS INC NEWENR7,000$207,6900.01%
243SCHWAB STRATEGIC TR8085242019,378$205,9410.01%
244ALLIANT ENERGY CORPLNT3,219$204,6650.01%
245J P MORGAN EXCHANGE TRADED F46654Q2033,950$204,6500.01%
246SMARTFINANCIAL INCSMBK6,499$202,7690.01%
247THE CAMPBELLS COMPANYCPB5,104$202,7340.01%
248ROSS STORES INCROST1,606$201,4250.01%
249SOUTHERN STS BANCSHARES INCSOMN6,182$200,8540.01%
250VANGUARD INDEX FDS922908538820$200,1900.01%
251PERMIAN BASIN RTY TR71423610618,200$180,3620.01%
252RIVIAN AUTOMOTIVE INCRIVN11,116$137,9500.01%
253SAN JUAN BASIN RTY TR79824110522,008$121,4850.01%
254AMBEV SAABEV44,191$100,7560.00%
255MESA RTY TR59066010616,370$98,3840.00%
256GRAY TELEVISION INCGTN-A12,369$53,3110.00%
257SILVERCORP METALS INCSVM11,225$43,5530.00%
258GRAFTECH INTL LTD38431350834,243$32,5420.00%
259URANIUM RTY CORP91702V10117,610$31,1700.00%
260ZEDGE INCZDGE12,183$28,6310.00%
261BITFARMS LTDBITF32,740$27,5900.00%
262BP PRUDHOE BAY RTY TRBPPFF33,759$18,8140.00%
263DENISON MINES CORPDNN11,428$15,2000.00%
264WESTWATER RES INCWWR22,954$12,6830.00%
265ARGO BLOCKCHAIN PLCARBK12,309$4,5430.00%
266AMPCO-PITTSBURG CORPAP12,000$1800.00%