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Welch & Forbes LLC 13F Holdings & Recent Stock Buys (Q2 2026)
Welch & Forbes LLCCIK: 0000105495
Diversified strategyMomentum followerLong-term holder
Total reported value
$8.2B
Reporting period: 2026-06-30 · Number of holdings: 388
WELCH & FORBES LLC disclosed 388 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $8.2B and a quarterly turnover rate of 12.2%.
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Personality snowflake
- Concentration
- 9.08
- Portfolio Stability
- 12.24
- Momentum
- 100
- Sector conviction
- 46.17
- Diversification
- 100
- Sizing Uniformity
- 72.03
Welch & Forbes LLC's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 44 equally-sized positions, well below its 388 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.80), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd PANW
+7.3% $61.8M
Add GOOG
-1.6% $71.2M
Add LLY
+2.7% $52.4M
Add NVDA
-1.8% $68.5M
Add AAPL
-1.0% $54.8M
Trim CVX
-0.5% -$16.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 388 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 7.40% | +0.42% | -1.78% | |
| 2 | AAPL | Apple Inc | Stock-Tech | 5.85% | +0.34% | -1.02% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.95% | +0.60% | -1.63% | |
| 4 | MSFT | Microsoft CORP | Stock-Tech | 4.02% | -0.20% | +0.64% | |
| 5 | ORLY | O'reilly Automotive Inc | Stock-Consumer Disc | 3.14% | -0.24% | -0.80% | |
| 6 | V | Visa Inc-class A Shares | Stock-Financials | 2.94% | +0.13% | -2.01% | |
| 7 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.57% | +0.09% | -1.14% | |
| 8 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.52% | +0.52% | +2.66% | |
| 9 | RTX | Rtx CORP | Stock-Industrials | 2.47% | -0.26% | -2.26% | |
| 10 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.03% | -0.05% | +0.07% | |
| 11 | SYK | Stryker CORP | Stock-Healthcare | 1.99% | -0.17% | +2.05% | |
| 12 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.84% | -0.24% | +0.56% | |
| 13 | HD | Home Depot Inc | Stock-Consumer Disc | 1.84% | +0.02% | -0.04% | |
| 14 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.74% | +0.22% | -1.89% | |
| 15 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.68% | +0.15% | +2.10% | |
| 16 | CB | Chubb Limited | Stock-Financials | 1.59% | -0.04% | -0.51% | |
| 17 | ECL | Ecolab Inc | Stock-Materials | 1.59% | -0.03% | -0.37% | |
| 18 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 1.41% | -0.18% | -0.52% | |
| 19 | DHR | Danaher CORP | Stock-Healthcare | 1.39% | -0.11% | -2.34% | |
| 20 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.34% | -0.09% | -1.21% | |
| 21 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.34% | +0.72% | +7.26% | |
| 22 | VRTX | Vertex Pharmaceuticals Inc | Stock-Healthcare | 1.34% | +0.07% | +0.74% | |
| 23 | MDY | State Street Spdr S&p Midcap | ETF-Other | 1.22% | -0.07% | -12.00% | |
| 24 | AVGO | Broadcom Inc | Stock-Tech | 1.21% | +0.24% | +8.93% | |
| 25 | IDXX | Idexx Laboratories Inc | Stock-Healthcare | 1.07% | -0.15% | -0.31% | |
| 26 | WSO | Watsco Inc | Stock-Industrials | 1.06% | +0.07% | -0.25% | |
| 27 | ABBV | Abbvie Inc | Stock-Healthcare | 1.06% | +0.09% | +0.69% | |
| 28 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.02% | +0.03% | +11.00% | |
| 29 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.98% | -0.24% | -1.66% | |
| 30 | IRM | Iron Mountain Inc | Stock-Real Estate | 0.98% | +0.12% | -1.95% | |
| 31 | AMP | Ameriprise Financial Inc | Stock-Financials | 0.95% | -0.05% | -1.34% | |
| 32 | CSCO | Cisco Systems Inc | Stock-Tech | 0.90% | +0.26% | -0.63% | |
| 33 | MTD | Mettler-toledo International | Stock-Healthcare | 0.89% | -0.07% | -2.92% | |
| 34 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 0.82% | +0.02% | -2.08% | |
| 35 | AJG | Arthur J Gallagher & Co | Stock-Financials | 0.81% | -0.01% | -1.16% | |
| 36 | CVX | Chevron CORP | Stock-Energy | 0.80% | -0.27% | -0.47% | |
| 37 | RMD | Resmed Inc | Stock-Healthcare | 0.76% | -0.19% | -1.34% | |
| 38 | NEE | Nextera Energy Inc | Stock-Utilities | 0.74% | -0.07% | +3.18% | |
| 39 | WMT | Walmart Inc | Stock-Consumer Staples | 0.72% | -0.12% | +0.60% | |
| 40 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.70% | -0.03% | -1.60% | |
| 41 | LECO | Lincoln Electric Holdings | Stock-Industrials | 0.67% | -0.01% | -0.46% | |
| 42 | BAC | Bank Of America CORP | Stock-Financials | 0.66% | +0.04% | -1.98% | |
| 43 | PEP | Pepsico Inc | Stock-Consumer Staples | 0.66% | -0.18% | -3.23% | |
| 44 | LIN | Linde plc | Stock-Materials | 0.66% | -0.01% | -1.10% | |
| 45 | ABT | Abbott Laboratories | Stock-Healthcare | 0.66% | -0.18% | -5.51% | |
| 46 | CSL | Carlisle Cos Inc | Stock-Industrials | 0.63% | +0.02% | +1.64% | |
| 47 | ADP | Automatic Data Processing | Stock-Tech | 0.61% | +0.02% | -0.39% | |
| 48 | ROP | Roper Technologies Inc | Stock-Tech | 0.58% | -0.24% | -22.00% | |
| 49 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.57% | -0.02% | +2320.01% | |
| 50 | XYL | Xylem Inc | Stock-Industrials | 0.57% | -0.07% | -4.32% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
+5.9%
Performance Last 4 Quarters
+12.6%
- Stdev
- +11.2%
- Beta
- +0.8
- Alpha
- -1.2%
- Max Drawdown
- -7.2%
- Annualized Perf
- +15.1%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.3
- Stutzer
- +0.38
- Treynor
- +0.18
- Sterling
- +0.97
- Calmar
- +2.11
- Information Ratio
- -1.03
- Tracking Error
- +5.1%
- Stdev Down
- +6.4%
- Winning Months %
- +72.2%
- Losing Months %
- +27.8%
- Best 12 Months
- +32.7%
- Worst 12 Months
- +7.2%
- Efficiency Ratio
- +0.51
- Sharpe
- +1.32
- Stdev Sectors
- +7.6%
- Skewness
- -0.42
- Kurtosis
- 0
- Upside Potential
- +3.81
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 388 | $8.2B | 12 | ||
| 2026 Q1 | 368 | $7.7B | 12 | ||
| 2025 Q4 | 374 | $8.3B | 11 | ||
| 2025 Q3 | 383 | $8.3B | 21 | ||
| 2025 Q2 | 372 | $8.0B | 0 | ||
| 2025 Q1 | 370 | $7.6B | 100 | ||
| 2024 Q4 | 379 | $7.8B | 0 | ||
| 2024 Q3 | 373 | $7.9B | 0 | ||
| 2024 Q2 | 366 | $7.5B | 0 | ||
| 2024 Q1 | 378 | $7.3B | 0 | ||
| 2023 Q4 | 366 | $6.6B | 0 | ||
| 2023 Q3 | 367 | $6.0B | 0 | ||
| 2023 Q2 | 375 | $6.3B | 0 | ||
| 2023 Q1 | 365 | $5.9B | 0 | ||
| 2022 Q4 | 368 | $5.6B | 0 | ||
| 2022 Q3 | 425 | $5.1B | 0 | ||
| 2022 Q2 | 434 | $5.5B | 0 | ||
| 2022 Q1 | 446 | $6.3B | 0 | ||
| 2021 Q4 | 445 | $6.7B | 0 | ||
| 2021 Q3 | 444 | $6.0B | 0 | ||
| 2021 Q2 | 445 | $5.9B | 100 | ||
| 2021 Q1 | 442 | $5.4B | 9 | ||
| 2020 Q4 | 439 | $5.1B | 12 | ||
| 2020 Q3 | 404 | $4.6B | 12 | ||
| 2020 Q2 | 397 | $4.3B | 24 | ||
| 2020 Q1 | 380 | $3.6B | 24 | ||
| 2019 Q4 | 404 | $4.5B | 10 | ||
| 2019 Q3 | 401 | $4.2B | 8 | ||
| 2019 Q2 | 398 | $4.1B | 9 | ||
| 2019 Q1 | 399 | $4.0B | 14 | ||
| 2018 Q4 | 390 | $3.5B | 19 | ||
| 2018 Q3 | 417 | $4.2B | 11 | ||
| 2018 Q2 | 415 | $3.9B | 11 | ||
| 2018 Q1 | 411 | $3.9B | 16 | ||
| 2017 Q4 | 382 | $3.7B | 15 | ||
| 2017 Q3 | 380 | $3.8B | 10 | ||
| 2017 Q2 | 389 | $3.6B | 8 | ||
| 2017 Q1 | 391 | $3.5B | 11 | ||
| 2016 Q4 | 387 | $3.3B | 24 | ||
| 2016 Q3 | 321 | $2.9B | 25 | ||
| 2016 Q2 | 354 | $3.3B | 9 | ||
| 2016 Q1 | 358 | $3.2B | 10 | ||
| 2015 Q4 | 344 | $3.1B | 15 | ||
| 2015 Q3 | 343 | $3.0B | 13 | ||
| 2015 Q2 | 348 | $3.2B | 10 | ||
| 2015 Q1 | 331 | $3.3B | 13 | ||
| 2014 Q4 | 344 | $3.4B | 12 | ||
| 2014 Q3 | 349 | $3.3B | 13 | ||
| 2014 Q2 | 330 | $3.2B | 14 | ||
| 2014 Q1 | 335 | $3.2B | 10 | ||
| 2013 Q4 | 356 | $3.2B | 13 | ||
| 2013 Q3 | 363 | $3.0B | 9 | ||
| 2013 Q2 | 344 | $2.8B | — |
Holding changes this quarter
Welch & Forbes LLC's most significant position changes for 2026-06-30: Sold out: Honeywell International Inc (HON); New buy: ; New buy: ; New buy: Sandisk CORP (SNDK); New buy: Trane Technologies plc (TT).
Showing top 200 changes by size (of 398 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PANW | Palo Alto Networks Inc | +0.7% | +7.26% | Add |
| 2 | GOOG | Alphabet Inc-cl C | +0.6% | -1.63% | Trim |
| 3 | LLY | Eli Lilly & Co | +0.5% | +2.66% | Add |
| 4 | NVDA | Nvidia CORP | +0.4% | -1.78% | Trim |
| 5 | AAPL | Apple Inc | +0.3% | -1.02% | Trim |
| 6 | CSCO | Cisco Systems Inc | +0.3% | -0.63% | Trim |
| 7 | AVGO | Broadcom Inc | +0.2% | +8.93% | Add |
| 8 | GOOGL | Alphabet Inc-cl A | +0.2% | -1.89% | Trim |
| 9 | INTC | Intel CORP | +0.2% | -2.28% | Trim |
| 10 | AMZN | Amazon.com Inc | +0.2% | +2.10% | Add |
| 11 | V | Visa Inc-class A Shares | +0.1% | -2.01% | Trim |
| 12 | IRM | Iron Mountain Inc | +0.1% | -1.95% | Trim |
| 13 | JPM | Jpmorgan Chase & Co | +0.1% | -1.14% | Trim |
| 14 | ABBV | Abbvie Inc | +0.1% | +0.69% | Add |
| 15 | CGNX | Cognex CORP | +0.1% | +2.41% | Add |
| 16 | CAT | Caterpillar Inc | +0.1% | +5.81% | Add |
| 17 | QCOM | Qualcomm Inc | +0.1% | +0.19% | Add |
| 18 | VRTX | Vertex Pharmaceuticals Inc | +0.1% | +0.74% | Add |
| 19 | WSO | Watsco Inc | +0.1% | -0.25% | Trim |
| 20 | IBM | Intl Business Machines CORP | +0.1% | +30.35% | Add |
| 21 | CMI | Cummins Inc | +0.1% | -3.33% | Trim |
| 22 | BAC | Bank Of America CORP | 0% | -1.98% | Trim |
| 23 | TXN | Texas Instruments Inc | 0% | +8.57% | Add |
| 24 | META | Meta Platforms Inc-class A | 0% | +11.00% | Add |
| 25 | GE | General Electric | 0% | -3.59% | Trim |
| 26 | AMAT | Applied Materials Inc | 0% | +1.48% | Add |
| 27 | CHEF | Chefs' Warehouse Inc/the | 0% | +1.56% | Add |
| 28 | MDB | Mongodb Inc | 0% | +3.78% | Add |
| 29 | HD | Home Depot Inc | 0% | -0.04% | Trim |
| 30 | VEA | Vanguard Ftse Developed ETF | 0% | -2.08% | Trim |
| 31 | CSL | Carlisle Cos Inc | 0% | +1.64% | Add |
| 32 | ADP | Automatic Data Processing | 0% | -0.39% | Trim |
| 33 | IJR | Ishares Core S&p Small-cap E | 0% | -2.07% | Trim |
| 34 | GEV | GE Vernova Inc | 0% | -4.06% | Trim |
| 35 | KMX | Carmax Inc | 0% | -9.29% | Trim |
| 36 | ADI | Analog Devices Inc | 0% | +4.72% | Add |
| 37 | CARR | Carrier Global CORP | 0% | -1.41% | Trim |
| 38 | STT | State Street CORP | 0% | -1.92% | Trim |
| 39 | MU | Micron Technology Inc | 0% | +6.01% | Add |
| 40 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -4.66% | Trim |
| 41 | AXP | American Express Co | 0% | -0.72% | Trim |
| 42 | MRK | Merck & Co. Inc. | 0% | -0.13% | Trim |
| 43 | EXPD | Expeditors Intl Wash Inc | 0% | -0.44% | Trim |
| 44 | EW | Edwards Lifesciences CORP | 0% | -0.35% | Trim |
| 45 | SNPS | Synopsys Inc | 0% | -0.24% | Trim |
| 46 | IVV | Ishares Core S&p 500 ETF | 0% | -1.75% | Trim |
| 47 | AGG | Ishares Core U.s. Aggregate | 0% | +48.95% | Add |
| 48 | QQQ | Invesco Qqq Trust Series 1 | 0% | -3.35% | Trim |
| 49 | VEU | Vanguard Ftse All-world Ex-u | 0% | +4.01% | Add |
| 50 | SBUX | Starbucks CORP | 0% | +1.95% | Add |
1–50 of 200
Filing History
FAQ
What is Welch & Forbes LLC and what type of investor is it?
Welch & Forbes LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $8.2B, spread across 388 disclosed positions.
What are Welch & Forbes LLC's largest equity positions?
Based on the latest 13F filing, Welch & Forbes LLC's top holdings by market value are:
1. Nvidia CORP (NVDA) — $608.5M (7.4%)
2. Apple Inc (AAPL) — $481.2M (5.8%)
3. Alphabet Inc-cl C (GOOG) — $407.5M (5.0%)
4. Microsoft CORP (MSFT) — $331.0M (4.0%)
5. O'reilly Automotive Inc (ORLY) — $258.7M (3.1%)
What changes did Welch & Forbes LLC make in its most recent portfolio filing?
In the latest reported quarter, Welch & Forbes LLC made 188 notable position adjustments: 9 new positions were initiated, 70 existing holdings were added to, 107 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Honeywell International Inc (HON); New buy: ; New buy: ; New buy: Sandisk CORP (SNDK); New buy: Trane Technologies plc (TT)
What sectors does Welch & Forbes LLC focus on?
Welch & Forbes LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 27.0%
• Health Care: 17.2%
• Financials: 12.1%
• Consumer Discretionary: 11.1%
• Industrials: 10.5%
• Communication Services: 9.1%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Welch & Forbes LLC returned an annualized 15.1% over the trailing 36 months — underperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.80 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its PANW position over the past two quarters (+$66.8M, now $109.9M), while trimming ROP over the same stretch (-$39.0M, still holding $47.5M).
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