Institutional Manager · CIK 0000105495
WELCH & FORBES LLC
Boston, MA · File #028-00262
Latest AUM
$8.25B
Positions
374
Top-10 Concentration
48.4%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | SERVICENOW INC | NOW | +172,131 | +$26.4M | -$41.5M |
| REDUCE | NVIDIA CORPORATION | NVDA | -124,836 | -$23.3M | -$276,832 |
| REDUCE | FISERV INC | FISV | -314,991 | -$21.2M | -$53.9M |
| ADD | PALO ALTO NETWORKS INC | PANW | +86,897 | +$16.0M | -$2.9M |
| REDUCE | CARMAX INC | KMX | -371,647 | -$14.4M | -$5.1M |
| ADD | UBER TECHNOLOGIES INC | UBER | +166,371 | +$13.6M | -$1.4M |
| ADD | SPDR S&P 500 ETF TR | SPY | +15,846 | +$10.8M | +$634,501 |
| ADD | SYNOPSYS INC | SNPS | +17,481 | +$8.2M | -$427,832 |
| REDUCE | ADOBE INC | ADBE | -19,923 | -$7.0M | -$262,139 |
| REDUCE | ACCENTURE PLC IRELAND | ACN | -23,544 | -$6.3M | +$2.4M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 2025374 pos · $8.25B
- 13F HOLDINGS REPORTQ/E Sep 2025383 pos · $8.30B
- 13F HOLDINGS REPORTQ/E Jun 2025372 pos · $8.01B
- 13F HOLDINGS REPORTQ/E Mar 2025370 pos · $7.64B
- 13F HOLDINGS REPORTQ/E Dec 2024379 pos · $7.78B
- 13F HOLDINGS REPORTQ/E Sep 2024373 pos · $7.86B
- 13F HOLDINGS REPORTQ/E Jun 2024366 pos · $7.49B
- 13F HOLDINGS REPORTQ/E Mar 2024378 pos · $7.28B
- 13F HOLDINGS REPORTQ/E Dec 2023367 pos · $6.05B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 3,337,312 | $622.4M | 9.46% |
| 2 | APPLE INC | AAPL | 1,702,197 | $462.8M | 7.03% |
| 3 | MICROSOFT CORP | MSFT | 887,460 | $429.2M | 6.52% |
| 4 | ALPHABET INC | GOOG | 1,186,866 | $372.4M | 5.66% |
| 5 | OREILLY AUTOMOTIVE INC | 67103H107 | 2,869,787 | $261.8M | 3.98% |
| 6 | VISA INC | V | 725,722 | $254.5M | 3.87% |
| 7 | JPMORGAN CHASE & CO. | VYLD | 665,957 | $214.6M | 3.26% |
| 8 | RTX CORPORATION | RTX | 1,123,240 | $206.0M | 3.13% |
| 9 | ELI LILLY & CO | LLY | 167,818 | $180.4M | 2.74% |
| 10 | STRYKER CORPORATION | SYK | 512,479 | $180.1M | 2.74% |
| 11 | HOME DEPOT INC | HD | 428,480 | $147.4M | 2.24% |
| 12 | DANAHER CORPORATION | 235851102 | 618,995 | $141.7M | 2.15% |
| 13 | COSTCO WHSL CORP NEW | 22160K105 | 162,345 | $140.0M | 2.13% |
| 14 | JOHNSON & JOHNSON | JNJ | 670,094 | $138.7M | 2.11% |
| 15 | ALPHABET INC | GOOG | 421,125 | $131.8M | 2.00% |
| 16 | AMAZON COM INC | AMZN | 563,166 | $130.0M | 1.98% |
| 17 | ECOLAB INC | ECL | 472,164 | $124.0M | 1.88% |
| 18 | CHUBB LIMITED | CB | 393,955 | $123.0M | 1.87% |
| 19 | TJX COS INC NEW | 872540109 | 777,967 | $119.5M | 1.82% |
| 20 | IDEXX LABS INC | 45168D104 | 168,282 | $113.8M | 1.73% |