13F HOLDINGS REPORT

Welch Group, LLC

Quarter ended Q2 2025 · Filed July 25, 2025 · Accession 0001443095-25-000007

Total Value

$2.39B

Positions

281

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (281)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	MICROSOFT CORP	MSFT	204,974	$102.0M	4.26%
2	INTERNATIONAL BUSINESS MACHS	INTR	300,394	$88.6M	3.70%
3	JPMORGAN CHASE & CO.	VYLD	285,533	$82.8M	3.46%
4	APPLE INC	AAPL	375,181	$77.0M	3.22%
5	RTX CORPORATION	RTX	521,476	$76.1M	3.18%
6	SERVISFIRST BANCSHARES INC	SFBS	974,158	$75.5M	3.16%
7	GALLAGHER ARTHUR J & CO	363576109	224,038	$71.7M	3.00%
8	SOUTHERN CO	SOMN	767,455	$70.5M	2.94%
9	ABBVIE INC	ABBV	367,359	$68.2M	2.85%
10	CISCO SYS INC	CSCO	956,197	$66.3M	2.77%
11	HOME DEPOT INC	HD	176,698	$64.8M	2.71%
12	EMERSON ELEC CO	EMR	483,059	$64.4M	2.69%
13	COLGATE PALMOLIVE CO	CL	665,041	$60.5M	2.53%
14	MCDONALDS CORP	MCD	206,004	$60.2M	2.52%
15	CHEVRON CORP NEW	CVX	419,880	$60.1M	2.51%
16	QUALCOMM INC	QCOM	375,898	$59.9M	2.50%
17	CINCINNATI FINL CORP	172062101	400,492	$59.6M	2.49%
18	NEXTERA ENERGY INC	NEE-PW	850,837	$59.1M	2.47%
19	LOCKHEED MARTIN CORP	LMT	126,912	$58.8M	2.46%
20	PAYCHEX INC	PAYX	398,493	$58.0M	2.42%
21	JOHNSON & JOHNSON	JNJ	378,913	$57.9M	2.42%
22	EXXON MOBIL CORP	XOM	535,498	$57.7M	2.41%
23	TRUIST FINL CORP	89832Q109	1,298,835	$55.8M	2.33%
24	PROCTER AND GAMBLE CO	742718109	337,798	$53.8M	2.25%
25	TEXAS INSTRS INC	882508104	252,853	$52.5M	2.19%
26	CONSOLIDATED EDISON INC	ED	514,010	$51.6M	2.16%
27	VERIZON COMMUNICATIONS INC	VZ	1,147,934	$49.7M	2.08%
28	PEPSICO INC	PEP	363,869	$48.0M	2.01%
29	KIMBERLY-CLARK CORP	KMB	367,551	$47.4M	1.98%
30	PFIZER INC	PFE	1,908,773	$46.3M	1.93%
31	GENERAL MLS INC	370334104	777,702	$40.3M	1.68%
32	NVIDIA CORPORATION	NVDA	184,091	$29.1M	1.22%
33	COCA COLA CO	KO	259,317	$18.3M	0.77%
34	CATERPILLAR INC	CAT	39,634	$15.4M	0.64%
35	ORACLE CORP	ORCL-PD	65,885	$14.4M	0.60%
36	AMAZON COM INC	AMZN	60,924	$13.4M	0.56%
37	DEERE & CO	DE	25,557	$13.0M	0.54%
38	VISA INC	V	35,425	$12.6M	0.53%
39	GOLDMAN SACHS GROUP INC	GSCE	16,404	$11.6M	0.49%
40	META PLATFORMS INC	META	15,686	$11.6M	0.48%
41	ALPHABET INC	GOOG	64,262	$11.3M	0.47%
42	ISHARES TR	464287200	17,635	$10.9M	0.46%
43	ABBOTT LABS	ABLZF	74,915	$10.2M	0.43%
44	ADVANCED MICRO DEVICES INC	AMD	70,087	$9.9M	0.42%
45	BLACKSTONE INC	BX	62,641	$9.4M	0.39%
46	BROADCOM INC	AVGO	32,562	$9.0M	0.38%
47	TJX COS INC NEW	872540109	71,935	$8.9M	0.37%
48	MASTERCARD INCORPORATED	MA	15,507	$8.7M	0.36%
49	STRYKER CORPORATION	SYK	21,736	$8.6M	0.36%
50	AFLAC INC	AFL	78,407	$8.3M	0.35%
51	CARRIER GLOBAL CORPORATION	CARR	109,266	$8.0M	0.33%
52	SHERWIN WILLIAMS CO	SHW	22,897	$7.9M	0.33%
53	VULCAN MATLS CO	929160109	27,990	$7.3M	0.31%
54	ACCENTURE PLC IRELAND	ACN	23,300	$7.0M	0.29%
55	TARGET CORP	TGT	61,631	$6.1M	0.25%
56	AMERICAN EXPRESS CO	AXP	18,833	$6.0M	0.25%
57	GLOBE LIFE INC	GL-PD	47,577	$5.9M	0.25%
58	VANGUARD INDEX FDS	922908363	9,258	$5.3M	0.22%
59	ELI LILLY & CO	LLY	6,510	$5.1M	0.21%
60	WALMART INC	WMT	47,970	$4.7M	0.20%
61	PHILIP MORRIS INTL INC	718172109	21,656	$3.9M	0.16%
62	SYNOVUS FINL CORP	87161C501	67,708	$3.5M	0.15%
63	REGIONS FINANCIAL CORP NEW	RF-PF	137,556	$3.2M	0.14%
64	SPDR S&P 500 ETF TR	SPY	5,052	$3.1M	0.13%
65	ISHARES TR	464287457	34,529	$2.9M	0.12%
66	INVESCO QQQ TR	IVZ	4,839	$2.7M	0.11%
67	MERCK & CO INC	MRK	33,286	$2.6M	0.11%
68	ALTRIA GROUP INC	MO	42,318	$2.5M	0.10%
69	AT&T INC	T-PC	85,164	$2.5M	0.10%
70	SPDR GOLD TR	GLD	7,944	$2.4M	0.10%
71	ALPHABET INC	GOOG	12,936	$2.3M	0.10%
72	VANGUARD SCOTTSDALE FDS	92206C102	37,476	$2.2M	0.09%
73	SPDR SERIES TRUST	78468R663	23,718	$2.2M	0.09%
74	CRANE COMPANY	CR	11,000	$2.1M	0.09%
75	REPUBLIC SVCS INC	760759100	8,123	$2.0M	0.08%
76	AON PLC	AON	5,130	$1.8M	0.08%
77	WELLS FARGO CO NEW	949746101	22,467	$1.8M	0.08%
78	GRACO INC	GGG	20,653	$1.8M	0.07%
79	MUELLER INDS INC	624756102	22,000	$1.7M	0.07%
80	COSTCO WHSL CORP NEW	22160K105	1,755	$1.7M	0.07%
81	HONEYWELL INTL INC	438516106	7,386	$1.7M	0.07%
82	WELLTOWER INC	WELL	10,703	$1.6M	0.07%
83	GENUINE PARTS CO	GPC	13,017	$1.6M	0.07%
84	WASTE MGMT INC DEL	94106L109	6,790	$1.6M	0.06%
85	BANK NEW YORK MELLON CORP	064058100	16,936	$1.5M	0.06%
86	DUKE ENERGY CORP NEW	DUKB	12,400	$1.5M	0.06%
87	NORTHROP GRUMMAN CORP	NOC	2,872	$1.4M	0.06%
88	BANK AMERICA CORP	060505104	28,697	$1.4M	0.06%
89	WATTS WATER TECHNOLOGIES INC	WTS	5,400	$1.3M	0.06%
90	MODINE MFG CO	607828100	13,000	$1.3M	0.05%
91	MONDELEZ INTL INC	609207105	18,889	$1.3M	0.05%
92	TEXTRON INC	TXT	15,400	$1.2M	0.05%
93	OREILLY AUTOMOTIVE INC	67103H107	13,440	$1.2M	0.05%
94	NETFLIX INC	NFLX	901	$1.2M	0.05%
95	DISNEY WALT CO	254687106	9,661	$1.2M	0.05%
96	VANGUARD SCOTTSDALE FDS	92206C730	4,237	$1.2M	0.05%
97	GATX CORP	GATX	7,512	$1.2M	0.05%
98	NOVARTIS AG	NVSEF	9,466	$1.1M	0.05%
99	ATLANTA BRAVES HLDGS INC	BATRB	20,976	$1.0M	0.04%
100	UNITED CMNTY BKS BLAIRSVLE G	UNTCW	34,558	$1.0M	0.04%
101	XYLEM INC	XYL	7,802	$1.0M	0.04%
102	ONEOK INC NEW	OKE	12,272	$1.0M	0.04%
103	BANCO BILBAO VIZCAYA ARGENTA	BBVXF	63,458	$975,350	0.04%
104	CONOCOPHILLIPS	COP	10,454	$938,142	0.04%
105	EATON CORP PLC	ETN	2,607	$930,673	0.04%
106	TESLA INC	TSLA	2,869	$911,373	0.04%
107	STATE STR CORP	STT-PG	8,353	$888,259	0.04%
108	UNITED RENTALS INC	URI	1,145	$862,643	0.04%
109	ISHARES SILVER TR	SLV	26,043	$854,471	0.04%
110	AMERICAN ELEC PWR CO INC	025537101	8,188	$849,561	0.04%
111	ROYAL BK CDA	780087102	6,403	$842,315	0.04%
112	PACER FDS TR	69374H105	16,370	$830,942	0.03%
113	SELECT SECTOR SPDR TR	81369Y803	3,268	$827,581	0.03%
114	NATIONAL FUEL GAS CO	NFG	9,700	$821,687	0.03%
115	REAVES UTIL INCOME FD	756158101	22,500	$814,050	0.03%
116	HERC HLDGS INC	HRI	6,168	$812,264	0.03%
117	YUM BRANDS INC	YUM	5,398	$799,856	0.03%
118	BLACKROCK INC	BLK	760	$797,476	0.03%
119	VANECK ETF TRUST	92189F676	2,834	$790,346	0.03%
120	VANGUARD WHITEHALL FDS	921946406	5,928	$790,262	0.03%
121	CHUBB LIMITED	CB	2,672	$774,132	0.03%
122	VANGUARD SPECIALIZED FUNDS	921908844	3,770	$771,537	0.03%
123	ENPRO INC	NPO	4,000	$766,200	0.03%
124	VANGUARD INDEX FDS	922908629	2,717	$760,163	0.03%
125	CNH INDL N V	N20944109	58,118	$753,210	0.03%
126	VANGUARD INDEX FDS	922908769	2,435	$740,092	0.03%
127	VISA INC	V	2,000	$710,100	0.03%
128	UNITED STATES CELLULAR CORP	UNTCW	11,000	$703,670	0.03%
129	NEWMONT CORP	NEMCL	12,034	$701,101	0.03%
130	SONY GROUP CORP	SNEJF	25,156	$654,811	0.03%
131	ARCOSA INC	ACA	7,500	$650,325	0.03%
132	IDEX CORP	45167R104	3,700	$649,609	0.03%
133	UNILEVER PLC	UNLYF	10,323	$631,450	0.03%
134	DIAMONDBACK ENERGY INC	FANG	4,590	$630,692	0.03%
135	PALANTIR TECHNOLOGIES INC	PLTR	4,502	$613,713	0.03%
136	SCHWAB STRATEGIC TR	808524771	24,801	$608,617	0.03%
137	GENERAL DYNAMICS CORP	GD	2,048	$597,320	0.02%
138	ISHARES TR	464287168	4,459	$592,241	0.02%
139	MICRON TECHNOLOGY INC	MU	4,768	$587,617	0.02%
140	ENERGY TRANSFER L P	ET-PI	32,085	$581,693	0.02%
141	UNION PAC CORP	UNP	2,512	$577,961	0.02%
142	ISHARES TR	464287309	5,196	$572,080	0.02%
143	MARTIN MARIETTA MATLS INC	573284106	1,035	$568,174	0.02%
144	BOEING CO	BA-PA	2,705	$566,700	0.02%
145	VANGUARD WORLD FD	92204A702	852	$565,162	0.02%
146	DIAGEO PLC	DGEAF	5,582	$562,889	0.02%
147	PNC FINL SVCS GROUP INC	693475105	2,976	$554,786	0.02%
148	PACCAR INC	PCAR	5,831	$554,295	0.02%
149	STARBUCKS CORP	SBUX	5,912	$541,761	0.02%
150	VANGUARD INDEX FDS	922908736	1,221	$535,287	0.02%
151	ENTERGY CORP NEW	ENO	6,343	$527,231	0.02%
152	SELECT SECTOR SPDR TR	81369Y506	6,173	$523,545	0.02%
153	RYMAN HOSPITALITY PPTYS INC	78377T107	5,250	$518,018	0.02%
154	FLOWSERVE CORP	FLS	9,850	$515,648	0.02%
155	CAPITAL ONE FINL CORP	14040H105	2,412	$513,178	0.02%
156	MADISON SQUARE GRDN SPRT COR	55825T103	2,440	$509,838	0.02%
157	ZIMMER BIOMET HOLDINGS INC	ZBH	5,550	$506,227	0.02%
158	BOSTON SCIENTIFIC CORP	BSX	4,641	$498,490	0.02%
159	SIMON PPTY GROUP INC NEW	828806109	2,972	$477,716	0.02%
160	BRISTOL-MYERS SQUIBB CO	CELG-RI	10,318	$477,603	0.02%
161	AUTOMATIC DATA PROCESSING IN	ADP	1,548	$477,420	0.02%
162	NORFOLK SOUTHN CORP	655844108	1,839	$470,725	0.02%
163	GLOBAL PMTS INC	37940X102	5,835	$467,034	0.02%
164	IRON MTN INC DEL	46284V101	4,531	$464,745	0.02%
165	AGNICO EAGLE MINES LTD	AEM	3,755	$446,583	0.02%
166	NASDAQ INC	NDAQ	4,951	$442,719	0.02%
167	ISHARES TR	464287655	2,014	$434,602	0.02%
168	SELECT SECTOR SPDR TR	81369Y852	3,982	$432,125	0.02%
169	SALESFORCE INC	CRM	1,582	$431,396	0.02%
170	GILEAD SCIENCES INC	GILD	3,883	$430,534	0.02%
171	DOMINION ENERGY INC	D	7,597	$429,383	0.02%
172	SCHWAB STRATEGIC TR	808524722	14,380	$428,805	0.02%
173	ISHARES TR	464287507	6,898	$427,814	0.02%
174	IDACORP INC	IDA	3,656	$422,086	0.02%
175	CRESCENT ENERGY COMPANY	CRGY	48,396	$416,206	0.02%
176	ISHARES TR	464288810	6,630	$415,304	0.02%
177	VANGUARD WORLD FD	921910840	3,147	$412,873	0.02%
178	FIRSTENERGY CORP	FE	10,063	$405,126	0.02%
179	KELLANOVA	BEKE	5,083	$404,250	0.02%
180	ENTERPRISE PRODS PARTNERS L	293792107	13,002	$403,199	0.02%
181	NORTHERN TR CORP	NTRSO	3,153	$399,769	0.02%
182	PHILLIPS 66	PSX	3,311	$394,969	0.02%
183	INVESCO EXCHANGE TRADED FD T	IVZ	9,271	$391,886	0.02%
184	KRAFT HEINZ CO	KHC	15,166	$391,590	0.02%
185	MARATHON PETE CORP	MARA	2,351	$390,525	0.02%
186	EVERSOURCE ENERGY	ES	5,936	$377,649	0.02%
187	ITT INC	ITT	2,402	$376,645	0.02%
188	POST HLDGS INC	POST	3,403	$371,030	0.02%
189	GRIFFON CORP	GFF	5,000	$361,850	0.02%
190	GE AEROSPACE	369604301	1,401	$360,562	0.02%
191	T ROWE PRICE ETF INC	87283Q503	9,238	$359,266	0.02%
192	VALMONT INDS INC	920253101	1,100	$359,227	0.02%
193	SENSIENT TECHNOLOGIES CORP	SXT	3,600	$354,672	0.01%
194	RENAISSANCERE HLDGS LTD	RNR-PG	1,450	$352,205	0.01%
195	COINBASE GLOBAL INC	COIN	1,000	$350,490	0.01%
196	NUCOR CORP	NUE	2,677	$346,727	0.01%
197	KINDER MORGAN INC DEL	EP-PC	11,775	$346,174	0.01%
198	CONSTELLATION ENERGY CORP	CEG	1,060	$342,126	0.01%
199	XCEL ENERGY INC	XELLL	4,989	$339,751	0.01%
200	AZZ INC	AZZ	3,500	$330,680	0.01%
201	AIR PRODS & CHEMS INC	AIIR	1,158	$326,549	0.01%
202	COMCAST CORP NEW	CCZ	9,126	$325,707	0.01%
203	ALLSTATE CORP	ALL-PJ	1,602	$322,499	0.01%
204	CHEMED CORP NEW	CHE	660	$321,374	0.01%
205	MORGAN STANLEY	MS-PQ	2,280	$321,161	0.01%
206	SCHWAB STRATEGIC TR	808524797	11,724	$310,684	0.01%
207	TRINITY INDS INC	896522109	11,500	$310,615	0.01%
208	INTEL CORP	INTC	13,853	$310,310	0.01%
209	APPLIED MATLS INC	038222105	1,691	$309,489	0.01%
210	CADENCE DESIGN SYSTEM INC	CDNS	1,000	$308,150	0.01%
211	CRANE NXT CO	CXT	5,500	$296,450	0.01%
212	ANNALY CAPITAL MANAGEMENT IN	NLY-PJ	14,671	$276,107	0.01%
213	SHELL PLC	RYDAF	3,866	$272,225	0.01%
214	VANGUARD WORLD FD	921910816	743	$272,107	0.01%
215	INTERNATIONAL PAPER CO	460146103	5,804	$271,802	0.01%
216	VANGUARD INDEX FDS	922908744	1,525	$269,529	0.01%
217	BLUE OWL CAPITAL CORPORATION	OWL	18,758	$268,993	0.01%
218	LOWES COS INC	548661107	1,210	$268,572	0.01%
219	CARDINAL HEALTH INC	CAH	1,570	$263,760	0.01%
220	SCHWAB STRATEGIC TR	808524201	10,778	$263,415	0.01%
221	CLOROX CO DEL	CLX	2,193	$263,314	0.01%
222	VANGUARD INDEX FDS	922908652	1,365	$263,050	0.01%
223	AMERICAN COASTAL INS CORP	ACIC	23,288	$258,963	0.01%
224	VANGUARD WORLD FD	92204A306	2,167	$258,134	0.01%
225	MICROCHIP TECHNOLOGY INC.	MCHPP	3,653	$257,062	0.01%
226	VANGUARD INDEX FDS	922908538	903	$256,805	0.01%
227	J P MORGAN EXCHANGE TRADED F	46641Q332	4,432	$251,978	0.01%
228	TEGNA INC	87901J105	15,015	$251,652	0.01%
229	WILLDAN GROUP INC	WLDN	4,000	$250,040	0.01%
230	INTUITIVE SURGICAL INC	ISRG	460	$249,969	0.01%
231	ISHARES TR	464287101	820	$249,567	0.01%
232	J P MORGAN EXCHANGE TRADED F	46641Q399	2,227	$249,199	0.01%
233	SMUCKER J M CO	832696405	2,529	$248,326	0.01%
234	DOLLAR GEN CORP NEW	256677105	2,166	$247,797	0.01%
235	PPG INDS INC	693506107	2,171	$246,952	0.01%
236	HALLIBURTON CO	HAL	12,042	$245,425	0.01%
237	AMGEN INC	AMGN	857	$239,217	0.01%
238	CROWDSTRIKE HLDGS INC	CRWD	468	$238,358	0.01%
239	FORTUNE BRANDS INNOVATIONS I	FBIN	4,626	$238,147	0.01%
240	VANGUARD WORLD FD	92204A405	1,870	$238,086	0.01%
241	L3HARRIS TECHNOLOGIES INC	LHX	944	$236,793	0.01%
242	AMEREN CORP	AEE	2,463	$236,547	0.01%
243	GLOBAL X FDS	37954Y871	6,076	$235,810	0.01%
244	WISDOMTREE TR	WT	2,027	$231,626	0.01%
245	VANGUARD INDEX FDS	922908751	974	$230,932	0.01%
246	TECK RESOURCES LTD	TCKRF	5,700	$230,166	0.01%
247	INGERSOLL RAND INC	IR	2,741	$228,016	0.01%
248	VANGUARD INTL EQUITY INDEX F	922042858	4,586	$226,809	0.01%
249	3M CO	MMM	1,481	$225,474	0.01%
250	SOUTHERN STS BANCSHARES INC	SOMN	6,182	$224,840	0.01%
251	CORTEVA INC	CTVA	2,970	$221,355	0.01%
252	PERMIAN BASIN RTY TR	714236106	17,798	$221,230	0.01%
253	MEDICAL PPTYS TRUST INC	58463J304	51,264	$220,948	0.01%
254	ADOBE INC	ADBE	568	$219,748	0.01%
255	SMARTFINANCIAL INC	SMBK	6,499	$219,537	0.01%
256	PROASSURANCE CORP	PRA	9,575	$218,606	0.01%
257	VANECK ETF TRUST	92189F106	4,159	$216,531	0.01%
258	SCHLUMBERGER LTD	SLB	6,402	$216,386	0.01%
259	J P MORGAN EXCHANGE TRADED F	46654Q203	3,950	$214,880	0.01%
260	ISHARES TR	464287499	2,304	$211,899	0.01%
261	HANCOCK WHITNEY CORPORATION	HWCPZ	3,643	$209,109	0.01%
262	GE VERNOVA INC	GEV	390	$206,440	0.01%
263	VANGUARD INTL EQUITY INDEX F	922042742	1,602	$205,881	0.01%
264	VANECK ETF TRUST	92189F791	3,039	$205,407	0.01%
265	ROSS STORES INC	ROST	1,608	$205,149	0.01%
266	ISHARES TR	464287804	1,840	$201,144	0.01%
267	RIVIAN AUTOMOTIVE INC	RIVN	11,116	$152,734	0.01%
268	SAN JUAN BASIN RTY TR	798241105	22,008	$131,388	0.01%
269	AMBEV SA	ABEV	44,319	$106,809	0.00%
270	MESA RTY TR	590660106	16,370	$88,398	0.00%
271	GRAY MEDIA INC	GTN-A	12,369	$56,032	0.00%
272	ZEDGE INC	ZDGE	12,183	$48,854	0.00%
273	SILVERCORP METALS INC	SVM	11,295	$47,665	0.00%
274	URANIUM RTY CORP	91702V101	17,610	$44,025	0.00%
275	GRAFTECH INTL LTD	384313508	34,243	$33,305	0.00%
276	BITFARMS LTD	BITF	32,740	$27,509	0.00%
277	DENISON MINES CORP	DNN	11,428	$20,799	0.00%
278	BP PRUDHOE BAY RTY TR	BPPFF	33,759	$16,880	0.00%
279	WESTWATER RES INC	WWR	22,954	$13,800	0.00%
280	ARGO BLOCKCHAIN PLC	ARBK	12,309	$2,302	0.00%
281	AMPCO-PITTSBURG CORP	AP	12,000	$228	0.00%