Forbes J M & Co. LLP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 6, 2025), Forbes J M & Co. LLP reported 139 stock positions worth $1.0 billion. Its top holding was iShares Gold Trust (IAU) at 8.3% of the portfolio, followed by Microsoft (MSFT, 5.7%) and Apple (AAPL, 5.4%). Compared with Q4 2024, it opened 5 new positions, sold out of 7, added to 57 and reduced 40. The biggest buy was iShares Gold Trust (IAU, shares +4%) and the biggest sale Nestle SA-Spons ADR (NSRGY, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001067532
- Portfolio Value
- $1.0B (Q1 2025)
- SEC Filing
- 0001140361-25-017471 ↗ filed May 6, 2025
Holdings Value
Holdings 139 stocks · $1.0B
| IAU iShares Gold Trust | 8.27% | 1,447,400 | $85.3M | Add +3.7% |
| MSFT Microsoft Corp. | 5.74% | 157,939 | $59.3M | Add +2.0% |
| AAPL Apple Inc. | 5.42% | 251,774 | $55.9M | Add +1.0% |
| NVDA Nvidia Corp. | 4.87% | 463,750 | $50.3M | Add +2.2% |
| AMZN Amazon.com Inc. | 3.45% | 187,255 | $35.6M | Add +2.4% |
| GOOGL Alphabet Inc. Class A | 3.40% | 227,188 | $35.1M | Add +2.0% |
| XLE SS Energy Select Sector | 3.40% | 375,606 | $35.1M | Add +3.4% |
| JPM JPMorgan Chase & Co. | 2.30% | 96,994 | $23.8M | Add +2.6% |
| V Visa Inc. Class A | 2.23% | 65,835 | $23.1M | Add +1.0% |
| PG The Procter & Gamble Co. | 1.95% | 118,231 | $20.1M | Add +0.8% |
| AVGO Broadcom Inc. | 1.89% | 116,758 | $19.5M | Add +2.7% |
| JNJ Johnson & Johnson | 1.88% | 117,068 | $19.4M | Add +3.7% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.83% | 453,488 | $18.9M | Add +3.6% |
| ABT Abbott Laboratories | 1.80% | 139,884 | $18.6M | Add +3.2% |
| XLK SS Technology Select Sector | 1.75% | 87,399 | $18.0M | Reduce -1.5% |
| LIN Linde PLC | 1.71% | 37,905 | $17.7M | Add +3.3% |
| KO The Coca-Cola Co. | 1.69% | 243,909 | $17.5M | Add +3.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.68% | 69,610 | $17.3M | Add +3.9% |
| VIG Vanguard Dividend Apprec ETF | 1.62% | 86,153 | $16.7M | Add +3.8% |
| WMT Walmart Inc. | 1.55% | 182,630 | $16.0M | Add +2.5% |
| NEE Nextera Energy Inc. | 1.50% | 218,737 | $15.5M | Add +2.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.47% | 124,271 | $15.1M | Add +3.1% |
| MRK Merck & Co. Inc. | 1.46% | 167,924 | $15.1M | Add +1.6% |
| PGR Progressive Corp. | 1.33% | 48,490 | $13.7M | Add +2.8% |
| ICE Intercontinental Exchange Inc. | 1.33% | 79,404 | $13.7M | Add +4.1% |
| PEP Pepsico Inc. | 1.32% | 91,069 | $13.7M | Add +2.5% |
| XLF SS Financial Select Sector | 1.30% | 268,854 | $13.4M | Reduce -1.5% |
| UNP Union Pacific Corp. | 1.27% | 55,398 | $13.1M | Add +2.4% |
| IJH iShares Core S&P Midcap ETF | 1.19% | 210,797 | $12.3M | Add +5.0% |
| HON Honeywell International Inc. | 1.18% | 57,722 | $12.2M | Add +3.8% |
| ADBE Adobe Inc. | 1.15% | 31,055 | $11.9M | Add +2.1% |
| SPEM State Street SP PTF Em ETF | 1.06% | 278,382 | $11.0M | Add +5.0% |
| XLI SS Industrial Select Sector | 1.04% | 82,117 | $10.8M | Reduce -1.5% |
| ETN Eaton Corp. PLC | 1.04% | 39,513 | $10.7M | Add +2.8% |
| CRM Salesforce Inc. | 0.99% | 37,941 | $10.2M | Add +3.3% |
| XYL Xylem Inc. | 0.98% | 84,538 | $10.1M | Add +4.0% |
| UNH Unitedhealth Group Inc. | 0.97% | 19,097 | $10.0M | Add +2.7% |
| ZTS Zoetis Inc. | 0.90% | 56,275 | $9.3M | Add +2.9% |
| HD Home Depot Inc. | 0.89% | 25,083 | $9.2M | Add +3.1% |
| VZ Verizon Communications Inc. | 0.87% | 198,551 | $9.0M | Add +2.7% |
| ECL Ecolab Inc. | 0.81% | 33,191 | $8.4M | Add +3.2% |
| XLY SS Consumer Disc Select Sect | 0.81% | 42,527 | $8.4M | Reduce -1.5% |
| BDX Becton Dickinson and Co. | 0.80% | 35,834 | $8.2M | Add +2.8% |
| XLV SS Health Care Select Sector | 0.77% | 54,169 | $7.9M | Reduce -1.5% |
| ITOT iShares Core S&P Total U.S. | 0.69% | 58,058 | $7.1M | Add +0.7% |
| LLY Eli Lilly & Co. | 0.68% | 8,472 | $7.0M | Add +325.5% |
| ORLY O'reilly Automotive Inc. | 0.67% | 4,810 | $6.9M | Add +3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.65% | 12,665 | $6.7M | Reduce -0.5% |
| PLD Prologis Inc. | 0.64% | 59,488 | $6.7M | Add +2.4% |
| META Meta Platforms Inc. Class A | 0.63% | 11,254 | $6.5M | Reduce -1.8% |
| PANW Palo Alto Networks Inc. | 0.61% | 37,203 | $6.3M | Add +4.4% |
| DNA Ginkgo Bioworks Holdings Inc. | 0.60% | 1,094,564 | $6.2M | Add +56.0% |
| XLC SS Comm Select Sector SPDR | 0.59% | 63,576 | $6.1M | Reduce -1.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.55% | 94,606 | $5.7M | Add +5.3% |
| IBB iShares Biotechnology ETF | 0.53% | 42,987 | $5.5M | Add +4.2% |
| ANET Arista Networks Inc. | 0.53% | 70,444 | $5.5M | Add +3.1% |
| XOM Exxon Mobil Corp. | 0.52% | 44,855 | $5.3M | Add +2.0% |
| NOW ServiceNow Inc. | 0.43% | 5,569 | $4.4M | Add +2.7% |
| TSLA Tesla Inc. | 0.34% | 13,486 | $3.5M | Reduce -1.4% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.33% | 42,773 | $3.4M | Reduce -1.3% |
| XLRE SS Real Estate Select Sector | 0.30% | 74,904 | $3.1M | Reduce -1.5% |
| ADP Automatic Data Processing | 0.30% | 10,096 | $3.1M | Reduce -0.3% |
| ABBV Abbvie Inc. | 0.29% | 14,056 | $2.9M | Reduce -1.2% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.25% | 25,605 | $2.6M | Add +0.3% |
| GOOG Alphabet Inc. Class C | 0.24% | 16,156 | $2.5M | Reduce -3.4% |
| MCD McDonald's Corp. | 0.24% | 7,832 | $2.4M | Reduce -0.6% |
| COST Costco Wholesale Corp. | 0.22% | 2,397 | $2.3M | Reduce -2.6% |
| CSCO Cisco Systems Inc. | 0.20% | 33,660 | $2.1M | Reduce -1.2% |
| GLDM SPDR Gold Minishares Trust | 0.17% | 28,711 | $1.8M | No change |
| IVV iShares Core S&P 500 ETF | 0.17% | 3,125 | $1.8M | Add +0.8% |
| MA Mastercard Inc. Class A | 0.15% | 2,880 | $1.6M | No change |
| GLD SPDR Gold Shares | 0.15% | 5,393 | $1.6M | Add +0.5% |
| SYK Stryker Corp. | 0.13% | 3,603 | $1.3M | Reduce -1.2% |
| EMR Emerson Electric Co. | 0.13% | 12,023 | $1.3M | No change |
| INTU Intuit Inc. | 0.12% | 2,060 | $1.3M | Reduce -13.2% |
| CVX Chevron Corp. | 0.12% | 7,102 | $1.2M | Add +15.4% |
| ACN Accenture PLC Class A | 0.11% | 3,770 | $1.2M | No change |
| FISV Fiserv Inc. | 0.11% | 5,066 | $1.1M | Reduce -4.8% |
| RTX RTX Corp. | 0.10% | 8,026 | $1.1M | Reduce -0.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.10% | 10,553 | $1.0M | Reduce -2.0% |
| XLB SS Materials Select Sector | 0.09% | 11,305 | $972K | Reduce -1.5% |
| CHD Church & Dwight Co. Inc. | 0.09% | 8,520 | $938K | No change |
| APD Air Products & Chemicals Inc. | 0.09% | 3,120 | $920K | No change |
| SCHW Schwab (charles) Corp. | 0.09% | 11,300 | $885K | Add +169.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.08% | 1 | $798K | No change |
| ADI Analog Devices Inc. | 0.08% | 3,900 | $787K | No change |
| NSRGY Nestle SA-Spons ADR | 0.07% | 7,154 | $724K | Reduce -88.9% |
| RY Royal Bank of Canada | 0.06% | 5,600 | $631K | No change |
| CMCSA Comcast Corp. Class A | 0.06% | 16,721 | $617K | Reduce -1.4% |
| INTC Intel Corp. | 0.06% | 26,981 | $613K | No change |
| ITW Illinois Tool Works | 0.06% | 2,399 | $595K | No change |
| PNC PNC Financial Services Group | 0.06% | 3,342 | $587K | Add +0.8% |
| BMY Bristol-Myers Squibb Co. | 0.06% | 9,484 | $578K | Reduce -12.3% |
| NVCT Nuvectis Pharma Inc. | 0.06% | 59,000 | $576K | No change |
| BX Blackstone Inc. | 0.06% | 4,083 | $571K | New |
| ISRG Intuitive Surgical Inc. | 0.05% | 1,121 | $555K | Reduce -42.6% |
| USB US Bancorp | 0.05% | 12,677 | $535K | No change |
| CAT Caterpillar Inc. | 0.05% | 1,591 | $525K | Reduce -6.5% |
| YUM Yum! Brands Inc. | 0.05% | 3,235 | $509K | No change |
| PFE Pfizer Inc. | 0.05% | 20,052 | $508K | Reduce -2.1% |
Portfolio Sells Q4 2024 → Q1 2025
| NSRGY Nestle SA-Spons ADR | Reduce -88.9% | 0.07% | −0.44 |
| XLK SS Technology Select Sector | Reduce -1.5% | 1.75% | −0.24 |
| TSLA Tesla Inc. | Reduce -1.4% | 0.34% | −0.19 |
| XLY SS Consumer Disc Select Sect | Reduce -1.5% | 0.81% | −0.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -57.5% | 0.04% | −0.06 |
| GOOG Alphabet Inc. Class C | Reduce -3.4% | 0.24% | −0.06 |
| RWJ Invesco S&P Smallcap 600 | Sold out | 0.00% | −0.05 |
| ISRG Intuitive Surgical Inc. | Reduce -42.6% | 0.05% | −0.04 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.04 |
| UNM Unum Group | Sold out | 0.00% | −0.04 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.04 |
| TSCO Tractor Supply Company | Sold out | 0.00% | −0.02 |
| INTU Intuit Inc. | Reduce -13.2% | 0.12% | −0.02 |
| URI United Rentals Inc. | Sold out | 0.00% | −0.02 |
| META Meta Platforms Inc. Class A | Reduce -1.8% | 0.63% | −0.02 |
| XLI SS Industrial Select Sector | Reduce -1.5% | 1.04% | −0.01 |
| DIS The Walt Disney Co. | Reduce -2.0% | 0.10% | −0.01 |
| NKE Nike Inc. Class B | Reduce -1.0% | 0.05% | −0.01 |
| CAT Caterpillar Inc. | Reduce -6.5% | 0.05% | −0.01 |
| DHR Danaher Corp. | Reduce -5.0% | 0.05% | −0.01 |
| XLC SS Comm Select Sector SPDR | Reduce -1.5% | 0.59% | −0.01 |
| NFLX Netflix Inc. | Reduce -22.8% | 0.03% | −0.01 |
| MPT Medical Properties Trust Inc. | Sold out | 0.00% | −0.01 |
| PCAR Paccar Inc. | Reduce -7.1% | 0.02% | −0.00 |
| PFE Pfizer Inc. | Reduce -2.1% | 0.05% | −0.00 |
| EW Edwards Lifesciences Corp. | Reduce -5.8% | 0.04% | −0.00 |
| BMY Bristol-Myers Squibb Co. | Reduce -12.3% | 0.06% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -1.4% | 0.06% | −0.00 |
| JMST JPM Ultra-Short Muni Income | Reduce -0.3% | 0.02% | +0.00 |
| JPST JPMorgan Ultra-Short Income | Reduce -0.2% | 0.02% | +0.00 |
| XLB SS Materials Select Sector | Reduce -1.5% | 0.09% | +0.00 |
| SBUX Starbucks Corp. | Reduce -2.1% | 0.04% | +0.00 |
| COST Costco Wholesale Corp. | Reduce -2.6% | 0.22% | +0.00 |
| FISV Fiserv Inc. | Reduce -4.8% | 0.11% | +0.00 |
| SYK Stryker Corp. | Reduce -1.2% | 0.13% | +0.00 |
| GE General Electric | Reduce -2.2% | 0.03% | +0.00 |
| MMM 3M Co. | Reduce -0.9% | 0.04% | +0.01 |
| XLRE SS Real Estate Select Sector | Reduce -1.5% | 0.30% | +0.01 |
| CSCO Cisco Systems Inc. | Reduce -1.2% | 0.20% | +0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -1.3% | 0.33% | +0.01 |
| RTX RTX Corp. | Reduce -0.6% | 0.10% | +0.01 |
| ADP Automatic Data Processing | Reduce -0.3% | 0.30% | +0.01 |
| MCD McDonald's Corp. | Reduce -0.6% | 0.24% | +0.02 |
| XLF SS Financial Select Sector | Reduce -1.5% | 1.30% | +0.03 |
| XLV SS Health Care Select Sector | Reduce -1.5% | 0.77% | +0.04 |
| ABBV Abbvie Inc. | Reduce -1.2% | 0.29% | +0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.5% | 0.65% | +0.10 |
Portfolio Buys Q4 2024 → Q1 2025
| IAU iShares Gold Trust | Add +3.7% | 8.27% | +1.61 |
| LLY Eli Lilly & Co. | Add +325.5% | 0.68% | +0.53 |
| XLE SS Energy Select Sector | Add +3.4% | 3.40% | +0.40 |
| ABT Abbott Laboratories | Add +3.2% | 1.80% | +0.32 |
| JNJ Johnson & Johnson | Add +3.7% | 1.88% | +0.31 |
| KO The Coca-Cola Co. | Add +3.0% | 1.69% | +0.27 |
| IBM Intl Business Machines Corp. | Add +3.9% | 1.68% | +0.26 |
| V Visa Inc. Class A | Add +1.0% | 2.23% | +0.25 |
| PGR Progressive Corp. | Add +2.8% | 1.33% | +0.24 |
| ICE Intercontinental Exchange Inc. | Add +4.1% | 1.33% | +0.23 |
| LIN Linde PLC | Add +3.3% | 1.71% | +0.23 |
| ORLY O'reilly Automotive Inc. | Add +3.4% | 0.67% | +0.14 |
| VZ Verizon Communications Inc. | Add +2.7% | 0.87% | +0.13 |
| JPM JPMorgan Chase & Co. | Add +2.6% | 2.30% | +0.12 |
| ECL Ecolab Inc. | Add +3.2% | 0.81% | +0.09 |
| SPEM State Street SP PTF Em ETF | Add +5.0% | 1.06% | +0.08 |
| UNP Union Pacific Corp. | Add +2.4% | 1.27% | +0.08 |
| XYL Xylem Inc. | Add +4.0% | 0.98% | +0.07 |
| TJX TJX Companies Inc. | Add +3.1% | 1.47% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +2.7% | 0.97% | +0.06 |
| XOM Exxon Mobil Corp. | Add +2.0% | 0.52% | +0.06 |
| PG The Procter & Gamble Co. | Add +0.8% | 1.95% | +0.06 |
| SCHW Schwab (charles) Corp. | Add +169.1% | 0.09% | +0.06 |
| BX Blackstone Inc. | New | 0.06% | +0.06 |
| VIG Vanguard Dividend Apprec ETF | Add +3.8% | 1.62% | +0.05 |
| PLD Prologis Inc. | Add +2.4% | 0.64% | +0.05 |
| RIO Rio Tinto PLC-Spon ADR | Add +5.3% | 0.55% | +0.04 |
| ZTS Zoetis Inc. | Add +2.9% | 0.90% | +0.04 |
| NEE Nextera Energy Inc. | Add +2.8% | 1.50% | +0.03 |
| BDX Becton Dickinson and Co. | Add +2.8% | 0.80% | +0.03 |
| CVX Chevron Corp. | Add +15.4% | 0.12% | +0.03 |
| EPD Enterprise Products Partners | New | 0.03% | +0.03 |
| GLD SPDR Gold Shares | Add +0.5% | 0.15% | +0.03 |
| AMT American Tower Corp. | New | 0.02% | +0.02 |
| PEP Pepsico Inc. | Add +2.5% | 1.32% | +0.02 |
| PWCDF Power Corp. of Canada | New | 0.02% | +0.02 |
| IBB iShares Biotechnology ETF | Add +4.2% | 0.53% | +0.01 |
| LOW Lowe's Cos Inc. | New | 0.00% | +0.00 |
| WMT Walmart Inc. | Add +2.5% | 1.55% | +0.00 |
| IEF iShares 7-10 Year Treasury B | Add +2.5% | 0.03% | +0.00 |
| PNC PNC Financial Services Group | Add +0.8% | 0.06% | −0.00 |
| IVV iShares Core S&P 500 ETF | Add +0.8% | 0.17% | −0.01 |
| PANW Palo Alto Networks Inc. | Add +4.4% | 0.61% | −0.01 |
| IJH iShares Core S&P Midcap ETF | Add +5.0% | 1.19% | −0.01 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +0.3% | 0.25% | −0.02 |
| BAC Bank of America Corp. | Add +3.6% | 1.83% | −0.02 |
| HD Home Depot Inc. | Add +3.1% | 0.89% | −0.02 |
| HON Honeywell International Inc. | Add +3.8% | 1.18% | −0.03 |
| ITOT iShares Core S&P Total U.S. | Add +0.7% | 0.69% | −0.03 |
| DNA Ginkgo Bioworks Holdings Inc. | Add +56.0% | 0.60% | −0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 159 | $1.3B | NVDA, GOOGL, AAPL, IAU, MSFT |
| Q1 2026 | 150 | $1.2B | IAU, NVDA, GOOGL, AAPL, MSFT |
| Q4 2025 | 141 | $1.2B | IAU, NVDA, MSFT, GOOGL, AAPL |
| Q3 2025 | 140 | $1.2B | IAU, MSFT, NVDA, AAPL, GOOGL |
| Q2 2025 | 141 | $1.1B | MSFT, IAU, NVDA, AAPL, AMZN |
| Q1 2025 | 139 | $1.0B | IAU, MSFT, AAPL, NVDA, AMZN |
| Q4 2024 | 141 | $1.0B | IAU, MSFT, AAPL, NVDA, GOOGL |
| Q3 2024 | 138 | $1.0B | IAU, MSFT, NVDA, AAPL, GOOGL |
| Q2 2024 | 133 | $975.9M | MSFT, IAU, NVDA, AAPL, GOOGL |
| Q1 2024 | 131 | $922.6M | MSFT, IAU, NVDA, AAPL, XLE |