Forbes J M & Co. LLP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 21, 2026), Forbes J M & Co. LLP reported 141 stock positions worth $1.2 billion. Its top holding was iShares Gold Trust (IAU) at 7.8% of the portfolio, followed by Nvidia (NVDA, 6.2%) and Microsoft (MSFT, 6.2%). Compared with Q3 2025, it opened 3 new positions, sold out of 3, added to 55 and reduced 40. The biggest buy was Emerson Electric (EMR, shares +692%) and the biggest sale Honeywell International (HON, shares −87%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001067532
- Portfolio Value
- $1.2B (Q4 2025)
- SEC Filing
- 0001140361-26-001778 ↗ filed Jan 21, 2026
Holdings Value
Holdings 141 stocks · $1.2B
| IAU iShares Gold Trust | 7.78% | 1,183,161 | $96.0M | Add +0.5% |
| NVDA Nvidia Corp. | 6.23% | 412,326 | $76.9M | Add +0.7% |
| MSFT Microsoft Corp. | 6.18% | 157,727 | $76.3M | Add +0.4% |
| GOOGL Alphabet Inc. Class A | 5.77% | 227,545 | $71.2M | Reduce -0.3% |
| AAPL Apple Inc. | 5.42% | 246,287 | $67.0M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 3.56% | 190,229 | $43.9M | Add +0.8% |
| AVGO Broadcom Inc. | 3.33% | 118,669 | $41.1M | Add +0.8% |
| XLE SS Energy Select Sector | 2.77% | 766,392 | $34.3M | Add +1.0% |
| JPM JPMorgan Chase & Co. | 2.57% | 98,566 | $31.8M | Add +0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.07% | 464,194 | $25.5M | Add +1.1% |
| XLK SS Technology Select Sector | 2.04% | 174,798 | $25.2M | No change |
| JNJ Johnson & Johnson | 1.96% | 116,707 | $24.2M | Add +0.6% |
| V Visa Inc. Class A | 1.90% | 66,918 | $23.5M | Add +0.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.71% | 71,344 | $21.1M | Add +1.1% |
| WMT Walmart Inc. | 1.67% | 185,319 | $20.6M | Add +0.5% |
| VIG Vanguard Dividend Apprec ETF | 1.56% | 87,865 | $19.3M | Add +0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.56% | 125,341 | $19.3M | Add +1.0% |
| MRK Merck & Co. Inc. | 1.46% | 170,967 | $18.0M | Add +0.9% |
| NEE Nextera Energy Inc. | 1.42% | 218,563 | $17.5M | Add +0.8% |
| ABT Abbott Laboratories | 1.42% | 139,534 | $17.5M | Add +0.4% |
| KO The Coca-Cola Co. | 1.41% | 248,571 | $17.4M | Add +0.7% |
| PG The Procter & Gamble Co. | 1.38% | 118,944 | $17.0M | Add +0.2% |
| LIN Linde PLC | 1.33% | 38,566 | $16.4M | Add +0.5% |
| XLF SS Financial Select Sector | 1.19% | 268,854 | $14.7M | No change |
| IJH iShares Core S&P Midcap ETF | 1.16% | 216,846 | $14.3M | Add +1.4% |
| SPEM State Street SP PTF Em ETF | 1.09% | 287,113 | $13.4M | Add +1.8% |
| PEP Pepsico Inc. | 1.06% | 91,651 | $13.2M | Add +0.6% |
| ICE Intercontinental Exchange Inc. | 1.06% | 80,947 | $13.1M | Add +0.5% |
| UNP Union Pacific Corp. | 1.05% | 55,903 | $12.9M | Add +0.7% |
| ETN Eaton Corp. PLC | 1.04% | 40,143 | $12.8M | Add +0.9% |
| XLI SS Industrial Select Sector | 1.03% | 82,117 | $12.7M | No change |
| EMR Emerson Electric Co. | 1.03% | 95,811 | $12.7M | Add +692.5% |
| LLY Eli Lilly & Co. | 1.02% | 11,747 | $12.6M | Add +0.3% |
| XYL Xylem Inc. | 0.96% | 86,616 | $11.8M | Add +1.2% |
| PGR Progressive Corp. | 0.91% | 49,215 | $11.2M | Add +0.4% |
| IXUS iShares Core Intl Stock ETF | 0.84% | 122,947 | $10.4M | Add +2.3% |
| XLY SS Consumer Disc Select Sect | 0.82% | 85,054 | $10.2M | No change |
| ANET Arista Networks Inc. | 0.77% | 72,247 | $9.5M | Add +1.6% |
| CSCO Cisco Systems Inc. | 0.76% | 122,275 | $9.4M | Add +1.3% |
| ECL Ecolab Inc. | 0.72% | 34,036 | $8.9M | Add +1.0% |
| HD Home Depot Inc. | 0.70% | 25,228 | $8.7M | Add +0.6% |
| DNA Ginkgo Bioworks Holdings Inc. | 0.70% | 1,040,441 | $8.6M | Reduce -1.9% |
| NOW ServiceNow Inc. | 0.68% | 54,739 | $8.4M | No change |
| XLV SS Health Care Select Sector | 0.68% | 54,169 | $8.4M | No change |
| ITOT iShares Core S&P Total U.S. | 0.68% | 56,115 | $8.3M | Reduce -1.5% |
| VZ Verizon Communications Inc. | 0.66% | 201,253 | $8.2M | Add +0.2% |
| RIO Rio Tinto PLC-Spon ADR | 0.63% | 96,978 | $7.8M | Add +1.4% |
| PLD Prologis Inc. | 0.63% | 60,676 | $7.7M | Add +0.9% |
| XLC SS Comm Select Sector SPDR | 0.61% | 63,576 | $7.5M | No change |
| META Meta Platforms Inc. Class A | 0.60% | 11,197 | $7.4M | Reduce -0.3% |
| IBB iShares Biotechnology ETF | 0.60% | 43,700 | $7.4M | Add +1.1% |
| PANW Palo Alto Networks Inc. | 0.58% | 38,637 | $7.1M | Add +1.4% |
| BDX Becton Dickinson and Co. | 0.57% | 36,014 | $7.0M | Add +0.2% |
| ZTS Zoetis Inc. | 0.56% | 55,418 | $7.0M | Reduce -0.2% |
| ORLY O'reilly Automotive Inc. | 0.55% | 74,359 | $6.8M | Add +1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.50% | 12,373 | $6.2M | No change |
| TSLA Tesla Inc. | 0.49% | 13,340 | $6.0M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.44% | 44,922 | $5.4M | Add +0.1% |
| GOOG Alphabet Inc. Class C | 0.41% | 16,009 | $5.0M | Reduce -0.2% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.30% | 85,378 | $3.6M | No change |
| DSI iShares ESG MSCI KLD 400 ETF | 0.29% | 28,142 | $3.6M | Add +0.1% |
| ABBV Abbvie Inc. | 0.25% | 13,432 | $3.1M | Reduce -1.5% |
| XLRE SS Real Estate Select Sector | 0.24% | 74,904 | $3.0M | No change |
| GLDM SPDR Gold Minishares Trust | 0.20% | 29,211 | $2.5M | Add +1.7% |
| ADP Automatic Data Processing | 0.20% | 9,447 | $2.4M | Add +1.3% |
| ADBE Adobe Inc. | 0.19% | 6,724 | $2.4M | Reduce -5.8% |
| MCD McDonald's Corp. | 0.18% | 7,313 | $2.2M | Add +0.1% |
| IVV iShares Core S&P 500 ETF | 0.18% | 3,197 | $2.2M | Add +2.3% |
| GLD SPDR Gold Shares | 0.17% | 5,406 | $2.1M | No change |
| MA Mastercard Inc. Class A | 0.17% | 3,671 | $2.1M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 0.17% | 2,407 | $2.1M | Reduce -1.1% |
| HON Honeywell International Inc. | 0.12% | 7,804 | $1.5M | Reduce -86.5% |
| CRM Salesforce Inc. | 0.12% | 5,608 | $1.5M | Reduce -85.2% |
| RTX RTX Corp. | 0.11% | 7,497 | $1.4M | Reduce -1.4% |
| AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO | 0.11% | 20,212 | $1.3M | New |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.09% | 10,144 | $1.2M | Reduce -0.5% |
| INTU Intuit Inc. | 0.09% | 1,635 | $1.1M | No change |
| XLB SS Materials Select Sector | 0.08% | 22,610 | $1.0M | No change |
| CVX Chevron Corp. | 0.08% | 6,637 | $1.0M | Reduce -0.8% |
| SYK Stryker Corp. | 0.08% | 2,852 | $1.0M | Reduce -1.1% |
| INTC Intel Corp. | 0.08% | 26,921 | $993K | Reduce -0.1% |
| ACN Accenture PLC Class A | 0.08% | 3,674 | $986K | Reduce -1.7% |
| BBHL BBH Select Large Cap ETF | 0.08% | 59,338 | $957K | New |
| RY Royal Bank of Canada | 0.08% | 5,600 | $955K | No change |
| SCHW Schwab (charles) Corp. | 0.08% | 9,502 | $949K | Reduce -15.9% |
| ADI Analog Devices Inc. | 0.08% | 3,496 | $948K | No change |
| JPST JPMorgan Ultra-Short Income | 0.07% | 15,987 | $809K | Add +63.3% |
| CAT Caterpillar Inc. | 0.06% | 1,390 | $796K | Add +8.8% |
| APD Air Products & Chemicals Inc. | 0.06% | 3,120 | $771K | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.06% | 1 | $755K | No change |
| AXSM Axsome Therapeutics Inc. | 0.05% | 3,704 | $676K | No change |
| ISRG Intuitive Surgical Inc. | 0.05% | 1,112 | $630K | Reduce -0.9% |
| BX Blackstone Inc. | 0.05% | 4,084 | $630K | Reduce -0.6% |
| PNC PNC Financial Services Group | 0.05% | 2,955 | $617K | No change |
| NSRGY Nestle SA-Spons ADR | 0.05% | 6,219 | $614K | Reduce -6.4% |
| USB US Bancorp | 0.05% | 11,438 | $610K | No change |
| ITW Illinois Tool Works | 0.05% | 2,399 | $591K | Reduce -0.1% |
| CHD Church & Dwight Co. Inc. | 0.05% | 6,930 | $581K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.05% | 834 | $569K | Add +2.2% |
| STT State Street Corp. | 0.04% | 4,269 | $551K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| HON Honeywell International Inc. | Reduce -86.5% | 0.12% | −0.89 |
| CRM Salesforce Inc. | Reduce -85.2% | 0.12% | −0.62 |
| DNA Ginkgo Bioworks Holdings Inc. | Reduce -1.9% | 0.70% | −0.58 |
| ZTS Zoetis Inc. | Reduce -0.2% | 0.56% | −0.11 |
| META Meta Platforms Inc. Class A | Reduce -0.3% | 0.60% | −0.09 |
| ORCL Oracle Corp. | Reduce -23.1% | 0.04% | −0.04 |
| FISV Fiserv Inc. | Reduce -3.1% | 0.02% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -1.1% | 0.17% | −0.02 |
| ADBE Adobe Inc. | Reduce -5.8% | 0.19% | −0.02 |
| AMT American Tower Corp. | Sold out | 0.00% | −0.02 |
| LMT Lockheed Martin Corp. | Sold out | 0.00% | −0.02 |
| CHKP Check Point Software Tech | Sold out | 0.00% | −0.02 |
| DD Dupont DE Nemours Inc. | Reduce -0.1% | 0.02% | −0.02 |
| ABBV Abbvie Inc. | Reduce -1.5% | 0.25% | −0.01 |
| ITOT iShares Core S&P Total U.S. | Reduce -1.5% | 0.68% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -15.9% | 0.08% | −0.01 |
| TSLA Tesla Inc. | Reduce -0.6% | 0.49% | −0.01 |
| PAYX Paychex Inc. | Reduce -17.3% | 0.02% | −0.01 |
| BX Blackstone Inc. | Reduce -0.6% | 0.05% | −0.01 |
| SYK Stryker Corp. | Reduce -1.1% | 0.08% | −0.01 |
| CVX Chevron Corp. | Reduce -0.8% | 0.08% | −0.00 |
| ITW Illinois Tool Works | Reduce -0.1% | 0.05% | −0.00 |
| MA Mastercard Inc. Class A | Reduce -0.1% | 0.17% | −0.00 |
| DIS The Walt Disney Co. | Reduce -0.5% | 0.09% | −0.00 |
| CMCSA Comcast Corp. Class A | Reduce -0.3% | 0.04% | −0.00 |
| PFE Pfizer Inc. | Reduce -1.3% | 0.04% | −0.00 |
| WY Weyerhaeuser Co. | Reduce -0.1% | 0.03% | −0.00 |
| OTIS Otis Worldwide Corp. | Reduce -0.1% | 0.02% | −0.00 |
| CTVA Corteva Inc. | Reduce -0.1% | 0.03% | −0.00 |
| NSRGY Nestle SA-Spons ADR | Reduce -6.4% | 0.05% | −0.00 |
| SBUX Starbucks Corp. | Reduce -0.2% | 0.03% | −0.00 |
| Q Qnity Electronics Inc. | Reduce -0.2% | 0.02% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -0.6% | 0.02% | −0.00 |
| CNI Canadian Natl Railway Co. | Reduce -0.2% | 0.02% | +0.00 |
| DHR Danaher Corp. | Reduce -2.3% | 0.03% | +0.00 |
| ACN Accenture PLC Class A | Reduce -1.7% | 0.08% | +0.00 |
| INTC Intel Corp. | Reduce -0.1% | 0.08% | +0.01 |
| RTX RTX Corp. | Reduce -1.4% | 0.11% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.2% | 0.04% | +0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -0.9% | 0.05% | +0.01 |
| GOOG Alphabet Inc. Class C | Reduce -0.2% | 0.41% | +0.08 |
| AAPL Apple Inc. | Reduce -0.1% | 5.42% | +0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -0.3% | 5.77% | +1.16 |
Portfolio Buys Q3 2025 → Q4 2025
| EMR Emerson Electric Co. | Add +692.5% | 1.03% | +0.90 |
| IAU iShares Gold Trust | Add +0.5% | 7.78% | +0.66 |
| LLY Eli Lilly & Co. | Add +0.3% | 1.02% | +0.28 |
| MRK Merck & Co. Inc. | Add +0.9% | 1.46% | +0.28 |
| JNJ Johnson & Johnson | Add +0.6% | 1.96% | +0.17 |
| AMZN Amazon.com Inc. | Add +0.8% | 3.56% | +0.11 |
| AKRE Akre Focus ETF | New | 0.11% | +0.11 |
| RIO Rio Tinto PLC-Spon ADR | Add +1.4% | 0.63% | +0.10 |
| BAC Bank of America Corp. | Add +1.1% | 2.07% | +0.10 |
| AVGO Broadcom Inc. | Add +0.8% | 3.33% | +0.10 |
| WMT Walmart Inc. | Add +0.5% | 1.67% | +0.09 |
| IBB iShares Biotechnology ETF | Add +1.1% | 0.60% | +0.08 |
| BBHL BBH Select Large Cap ETF | New | 0.08% | +0.08 |
| CSCO Cisco Systems Inc. | Add +1.3% | 0.76% | +0.08 |
| TJX TJX Companies Inc. | Add +1.0% | 1.56% | +0.07 |
| NEE Nextera Energy Inc. | Add +0.8% | 1.42% | +0.06 |
| IBM Intl Business Machines Corp. | Add +1.1% | 1.71% | +0.06 |
| PLD Prologis Inc. | Add +0.9% | 0.63% | +0.06 |
| KO The Coca-Cola Co. | Add +0.7% | 1.41% | +0.05 |
| JPST JPMorgan Ultra-Short Income | Add +63.3% | 0.07% | +0.02 |
| GLDM SPDR Gold Minishares Trust | Add +1.7% | 0.20% | +0.02 |
| IXUS iShares Core Intl Stock ETF | Add +2.3% | 0.84% | +0.02 |
| XOM Exxon Mobil Corp. | Add +0.1% | 0.44% | +0.02 |
| MS Morgan Stanley | New | 0.02% | +0.02 |
| V Visa Inc. Class A | Add +0.7% | 1.90% | +0.01 |
| CAT Caterpillar Inc. | Add +8.8% | 0.06% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +0.9% | 2.57% | +0.01 |
| BDX Becton Dickinson and Co. | Add +0.2% | 0.57% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +2.3% | 0.18% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +17.4% | 0.02% | +0.00 |
| PEP Pepsico Inc. | Add +0.6% | 1.06% | +0.00 |
| MMM 3M Co. | Add +2.1% | 0.04% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.2% | 0.05% | +0.00 |
| MDY State Street SPDR S&P Midcap | Add +5.9% | 0.02% | +0.00 |
| DSI iShares ESG MSCI KLD 400 ETF | Add +0.1% | 0.29% | −0.00 |
| YUM Yum! Brands Inc. | Add +1.3% | 0.04% | −0.00 |
| IJH iShares Core S&P Midcap ETF | Add +1.4% | 1.16% | −0.00 |
| MCD McDonald's Corp. | Add +0.1% | 0.18% | −0.00 |
| SPEM State Street SP PTF Em ETF | Add +1.8% | 1.09% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +0.1% | 1.56% | −0.01 |
| ADP Automatic Data Processing | Add +1.3% | 0.20% | −0.03 |
| XLE SS Energy Select Sector | Add +1.0% | 2.77% | −0.04 |
| ECL Ecolab Inc. | Add +1.0% | 0.72% | −0.04 |
| UNP Union Pacific Corp. | Add +0.7% | 1.05% | −0.04 |
| ICE Intercontinental Exchange Inc. | Add +0.5% | 1.06% | −0.07 |
| PANW Palo Alto Networks Inc. | Add +1.4% | 0.58% | −0.07 |
| VZ Verizon Communications Inc. | Add +0.2% | 0.66% | −0.07 |
| XYL Xylem Inc. | Add +1.2% | 0.96% | −0.09 |
| ANET Arista Networks Inc. | Add +1.6% | 0.77% | −0.09 |
| PGR Progressive Corp. | Add +0.4% | 0.91% | −0.10 |
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 |