Welch & Forbes LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 3, 2024), Welch & Forbes LLC reported 378 stock positions worth $7.3 billion. Its top holding was Nvidia (NVDA) at 5.5% of the portfolio, followed by Microsoft (MSFT, 5.3%) and Apple (AAPL, 4.2%). Compared with Q4 2023, it opened 22 new positions, sold out of 10, added to 102 and reduced 191. The biggest buy was Xylem (XYL, shares +335%) and the biggest sale Ansys (ANSS, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000105495
- Portfolio Value
- $7.3B (Q1 2024)
- SEC Filing
- 0001085146-24-002190 ↗ filed May 3, 2024
Holdings Value
Holdings 378 stocks · $7.3B
| NVDA Nvidia Corp. | 5.53% | 445,992 | $403.0M | Reduce -13.3% |
| MSFT Microsoft Corp. | 5.25% | 909,645 | $382.7M | Add +0.5% |
| AAPL Apple Inc. | 4.20% | 1,785,476 | $306.2M | Add +0.2% |
| ORLY O'reilly Automotive Inc. | 3.22% | 207,515 | $234.3M | Reduce -0.7% |
| V Visa Inc. Class A | 2.89% | 754,210 | $210.5M | Reduce -0.5% |
| SYK Stryker Corp. | 2.56% | 521,846 | $186.8M | Reduce -0.5% |
| GOOG Alphabet Inc. Class C | 2.48% | 1,186,703 | $180.7M | Add +1.1% |
| DHR Danaher Corp. | 2.32% | 676,411 | $168.9M | Add +0.4% |
| HD Home Depot Inc. | 2.27% | 431,951 | $165.7M | Add +0.1% |
| FISV Fiserv Inc. | 1.99% | 909,248 | $145.3M | Reduce -0.4% |
| JPM JPMorgan Chase & Co. | 1.97% | 717,425 | $143.7M | Reduce -0.7% |
| ANSS Ansys Inc. | 1.92% | 402,859 | $139.9M | Reduce -3.0% |
| PG The Procter & Gamble Co. | 1.78% | 798,946 | $129.6M | Reduce -0.2% |
| COST Costco Wholesale Corp. | 1.73% | 172,386 | $126.3M | Add +0.6% |
| JNJ Johnson & Johnson | 1.61% | 741,908 | $117.4M | Reduce -3.5% |
| RTX RTX Corp. | 1.59% | 1,187,119 | $115.8M | Add +1.3% |
| ROP Roper Technologies Inc. | 1.53% | 198,833 | $111.5M | Add +1.6% |
| ECL Ecolab Inc. | 1.49% | 470,607 | $108.7M | Add +0.7% |
| CB Chubb Ltd. | 1.47% | 413,956 | $107.3M | Reduce -0.5% |
| LLY Eli Lilly & Co. | 1.45% | 135,819 | $105.7M | Add +2.0% |
| PEP Pepsico Inc. | 1.38% | 575,763 | $100.8M | Reduce -2.6% |
| WSO Watsco Inc. | 1.30% | 219,897 | $95.0M | Add +2.9% |
| IDXX Idexx Laboratories Inc. | 1.26% | 170,226 | $91.9M | Reduce -0.6% |
| MCD McDonald's Corp. | 1.23% | 316,557 | $89.3M | Reduce -1.1% |
| MDY State Street SPDR S&P Midcap | 1.17% | 153,690 | $85.5M | Reduce -17.0% |
| MTD Mettler-Toledo International | 1.14% | 62,627 | $83.4M | Reduce -2.0% |
| AMZN Amazon.com Inc. | 1.14% | 462,107 | $83.4M | Add +3.0% |
| AMP Ameriprise Financial Inc. | 1.11% | 184,290 | $80.8M | Reduce -6.2% |
| VRTX Vertex Pharmaceuticals Inc. | 1.11% | 192,941 | $80.7M | Add +2.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.10% | 791,050 | $80.2M | Reduce -0.1% |
| KMX Carmax Inc. | 1.08% | 900,780 | $78.5M | Add +1.6% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.07% | 310,421 | $77.6M | Add +3.1% |
| ABT Abbott Laboratories | 1.01% | 646,225 | $73.4M | Add +1.2% |
| GOOGL Alphabet Inc. Class A | 0.94% | 455,437 | $68.7M | Add +0.3% |
| ABBV Abbvie Inc. | 0.93% | 371,776 | $67.7M | Reduce -2.7% |
| RMD Resmed Inc. | 0.88% | 323,035 | $64.0M | Add +4.0% |
| CVX Chevron Corp. | 0.88% | 404,977 | $63.9M | Add +3.5% |
| ADP Automatic Data Processing | 0.84% | 245,858 | $61.4M | Reduce -0.3% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.80% | 727,641 | $58.4M | Reduce -0.5% |
| ADBE Adobe Inc. | 0.75% | 108,742 | $54.9M | Add +12.1% |
| TMO Thermo Fisher Scientific Inc. | 0.75% | 93,868 | $54.6M | Add +7.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.75% | 129,166 | $54.3M | Add +0.1% |
| META Meta Platforms Inc. Class A | 0.72% | 108,363 | $52.6M | Add +1.9% |
| CMCSA Comcast Corp. Class A | 0.70% | 1,181,694 | $51.2M | Reduce -2.9% |
| LECO Lincoln Electric Holdings | 0.68% | 195,018 | $49.8M | Add +6.0% |
| AOS Smith (a.o.) Corp. | 0.68% | 556,806 | $49.8M | Add +1.2% |
| MRK Merck & Co. Inc. | 0.68% | 373,632 | $49.3M | Reduce -1.9% |
| PAYX Paychex Inc. | 0.67% | 395,125 | $48.5M | Reduce -2.3% |
| CHD Church & Dwight Co. Inc. | 0.65% | 452,649 | $47.2M | Add +1.3% |
| LIN Linde PLC | 0.60% | 94,181 | $43.7M | Add +1.8% |
| VEA Vanguard Ftse Developed ETF | 0.60% | 864,883 | $43.4M | Add +3.9% |
| ACN Accenture PLC Class A | 0.58% | 122,446 | $42.4M | Add +4.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.55% | 1,048,728 | $39.8M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.51% | 317,654 | $36.9M | Reduce -1.1% |
| CTAS Cintas Corp. | 0.46% | 48,940 | $33.6M | Add +6.1% |
| AFL Aflac Inc. | 0.46% | 389,064 | $33.4M | Reduce -11.1% |
| EMLP First Trust North American E | 0.45% | 1,107,664 | $32.7M | Reduce -0.4% |
| NEE Nextera Energy Inc. | 0.44% | 507,083 | $32.4M | Add +17.8% |
| CSL Carlisle Cos Inc. | 0.44% | 82,287 | $32.2M | Add +4.5% |
| BKNG Booking Holdings Inc. | 0.43% | 8,703 | $31.6M | Add +0.3% |
| CSCO Cisco Systems Inc. | 0.43% | 631,802 | $31.5M | Add +2.0% |
| VZ Verizon Communications Inc. | 0.43% | 742,590 | $31.2M | Add +4.6% |
| WMT Walmart Inc. | 0.42% | 510,253 | $30.7M | Add +1.8% |
| XYL Xylem Inc. | 0.41% | 230,944 | $29.8M | Add +334.6% |
| OTIS Otis Worldwide Corp. | 0.40% | 295,892 | $29.4M | Reduce -2.0% |
| DOV Dover Corp. | 0.40% | 165,553 | $29.3M | Reduce -0.3% |
| OMC Omnicom Group | 0.39% | 296,408 | $28.7M | Reduce -1.7% |
| LHX L3HARRIS Technologies Inc. | 0.38% | 131,512 | $28.0M | Add +9.8% |
| FTSL First Trust Senior Loan ETF | 0.38% | 604,916 | $28.0M | Add +7.2% |
| TSCO Tractor Supply Company | 0.36% | 100,413 | $26.3M | Add +13.3% |
| QCOM Qualcomm Inc. | 0.36% | 153,555 | $26.0M | Reduce -2.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.34% | 46,716 | $24.4M | Reduce -31.7% |
| BALL Ball Corp. | 0.33% | 359,946 | $24.2M | Reduce -0.1% |
| SBUX Starbucks Corp. | 0.33% | 264,705 | $24.2M | Add +0.9% |
| EW Edwards Lifesciences Corp. | 0.32% | 246,167 | $23.5M | Reduce -4.4% |
| GSK GSK PLC-Spon ADR | 0.31% | 520,651 | $22.3M | No change |
| PFF iShares Preferred & Income S | 0.30% | 684,818 | $22.1M | Reduce -0.6% |
| STZ Constellation Brands Inc. Class A | 0.29% | 78,148 | $21.2M | Add +0.5% |
| BDX Becton Dickinson and Co. | 0.29% | 84,742 | $21.0M | Reduce -2.4% |
| AXP American Express Co. | 0.28% | 89,063 | $20.3M | Reduce -0.9% |
| MCO Moody's Corp. | 0.27% | 49,268 | $19.4M | Add +13.1% |
| KO The Coca-Cola Co. | 0.26% | 313,247 | $19.2M | Reduce -9.3% |
| INTC Intel Corp. | 0.26% | 425,026 | $18.8M | Reduce -2.3% |
| MZTI The Marzetti Company filed as LANCASTER COLONY CORP | 0.22% | 77,128 | $16.0M | Add +6.8% |
| ORCL Oracle Corp. | 0.21% | 119,165 | $15.0M | Reduce -2.0% |
| EMR Emerson Electric Co. | 0.20% | 130,873 | $14.8M | Reduce -5.8% |
| CMI Cummins Inc. | 0.19% | 47,747 | $14.1M | Reduce -1.7% |
| BSX Boston Scientific Corp. | 0.19% | 205,006 | $14.0M | Reduce -0.1% |
| EXPD Expeditors Intl Wash Inc. | 0.19% | 114,252 | $13.9M | Reduce -10.3% |
| CGNX Cognex Corp. | 0.19% | 323,980 | $13.7M | Add +4.1% |
| PFE Pfizer Inc. | 0.18% | 471,602 | $13.1M | Reduce -6.7% |
| TD Toronto-Dominion Bank | 0.18% | 214,851 | $13.0M | Reduce -29.0% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 64,663 | $12.3M | Reduce -5.4% |
| SHOP Shopify Inc. Class A | 0.14% | 133,513 | $10.3M | Add +45.6% |
| UPS United Parcel Service Class B | 0.14% | 67,939 | $10.1M | Reduce -2.6% |
| SHW The Sherwin-Williams Co. | 0.14% | 28,720 | $10.0M | Reduce -0.1% |
| CARR Carrier Global Corp. | 0.13% | 161,680 | $9.4M | Reduce -11.7% |
| AWK American Water Works Co. Inc. | 0.13% | 74,920 | $9.2M | Reduce -43.1% |
| FTV Fortive Corp. | 0.12% | 105,633 | $9.1M | Reduce -15.6% |
| APD Air Products & Chemicals Inc. | 0.12% | 36,623 | $8.9M | Reduce -7.9% |
Portfolio Sells Q4 2023 → Q1 2024
| ANSS Ansys Inc. | Reduce -3.0% | 1.92% | −0.36 |
| MDY State Street SPDR S&P Midcap | Reduce -17.0% | 1.17% | −0.24 |
| JNJ Johnson & Johnson | Reduce -3.5% | 1.61% | −0.21 |
| MCD McDonald's Corp. | Reduce -1.1% | 1.23% | −0.21 |
| IDXX Idexx Laboratories Inc. | Reduce -0.6% | 1.26% | −0.17 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -31.7% | 0.34% | −0.16 |
| AWK American Water Works Co. Inc. | Reduce -43.1% | 0.13% | −0.14 |
| PEP Pepsico Inc. | Reduce -2.6% | 1.38% | −0.13 |
| TD Toronto-Dominion Bank | Reduce -29.0% | 0.18% | −0.12 |
| VLTO Veralto Corp. | Reduce -70.8% | 0.05% | −0.11 |
| CMCSA Comcast Corp. Class A | Reduce -2.9% | 0.70% | −0.10 |
| V Visa Inc. Class A | Reduce -0.5% | 2.89% | −0.09 |
| AFL Aflac Inc. | Reduce -11.1% | 0.46% | −0.09 |
| INTC Intel Corp. | Reduce -2.3% | 0.26% | −0.07 |
| CVS CVS Health Corp. | Reduce -42.0% | 0.07% | −0.06 |
| PAYX Paychex Inc. | Reduce -2.3% | 0.67% | −0.06 |
| EXPD Expeditors Intl Wash Inc. | Reduce -10.3% | 0.19% | −0.05 |
| KO The Coca-Cola Co. | Reduce -9.3% | 0.26% | −0.04 |
| APD Air Products & Chemicals Inc. | Reduce -7.9% | 0.12% | −0.04 |
| PFE Pfizer Inc. | Reduce -6.7% | 0.18% | −0.04 |
| COF Capital One Financial Corp. | Reduce -51.7% | 0.03% | −0.03 |
| BDX Becton Dickinson and Co. | Reduce -2.4% | 0.29% | −0.03 |
| NKE Nike Inc. Class B | Reduce -13.4% | 0.07% | −0.03 |
| CARR Carrier Global Corp. | Reduce -11.7% | 0.13% | −0.03 |
| UPS United Parcel Service Class B | Reduce -2.6% | 0.14% | −0.03 |
| MTD Mettler-Toledo International | Reduce -2.0% | 1.14% | −0.03 |
| ADP Automatic Data Processing | Reduce -0.3% | 0.84% | −0.03 |
| STT State Street Corp. | Reduce -20.5% | 0.06% | −0.02 |
| PFF iShares Preferred & Income S | Reduce -0.6% | 0.30% | −0.02 |
| TJX TJX Companies Inc. | Reduce -0.1% | 1.10% | −0.02 |
| MDT Medtronic PLC | Reduce -16.0% | 0.08% | −0.02 |
| AMP Ameriprise Financial Inc. | Reduce -6.2% | 1.11% | −0.02 |
| KMB Kimberly-Clark Corp. | Reduce -28.9% | 0.04% | −0.02 |
| SYY Sysco Corp. | Reduce -15.6% | 0.10% | −0.02 |
| PYPL PayPal Holdings Inc. | Reduce -64.8% | 0.01% | −0.02 |
| APTV Aptiv Irish Holdings Ltd. | Reduce -49.6% | 0.01% | −0.02 |
| EMLP First Trust North American E | Reduce -0.4% | 0.45% | −0.02 |
| DUK Duke Energy Corp. | Reduce -6.3% | 0.09% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -1.4% | 0.09% | −0.02 |
| BKLN Invesco Senior Loan ETF | Reduce -24.3% | 0.03% | −0.01 |
| FTV Fortive Corp. | Reduce -15.6% | 0.12% | −0.01 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -1.1% | 0.11% | −0.01 |
| BMY Bristol-Myers Squibb Co. | Reduce -8.7% | 0.09% | −0.01 |
| UNP Union Pacific Corp. | Reduce -6.4% | 0.07% | −0.01 |
| BSV Vanguard Short-Term Bond ETF | Reduce -11.8% | 0.05% | −0.01 |
| MMM 3M Co. | Reduce -1.0% | 0.08% | −0.01 |
| ITW Illinois Tool Works | Reduce -2.5% | 0.09% | −0.01 |
| ADI Analog Devices Inc. | Reduce -0.6% | 0.08% | −0.01 |
| TIP iShares Tips Bond ETF | Reduce -11.7% | 0.03% | −0.01 |
| MRSH Marsh & McLennan Cos | Reduce -14.9% | 0.04% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| XYL Xylem Inc. | Add +334.6% | 0.41% | +0.32 |
| LLY Eli Lilly & Co. | Add +2.0% | 1.45% | +0.28 |
| META Meta Platforms Inc. Class A | Add +1.9% | 0.72% | +0.15 |
| MSFT Microsoft Corp. | Add +0.5% | 5.25% | +0.11 |
| AMZN Amazon.com Inc. | Add +3.0% | 1.14% | +0.11 |
| RTX RTX Corp. | Add +1.3% | 1.59% | +0.10 |
| ECL Ecolab Inc. | Add +0.7% | 1.49% | +0.09 |
| MDB Mongodb Inc. | New | 0.08% | +0.08 |
| LECO Lincoln Electric Holdings | Add +6.0% | 0.68% | +0.08 |
| TSCO Tractor Supply Company | Add +13.3% | 0.36% | +0.07 |
| RMD Resmed Inc. | Add +4.0% | 0.88% | +0.07 |
| CSL Carlisle Cos Inc. | Add +4.5% | 0.44% | +0.07 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.1% | 0.75% | +0.05 |
| NEE Nextera Energy Inc. | Add +17.8% | 0.44% | +0.05 |
| KMX Carmax Inc. | Add +1.6% | 1.08% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +7.1% | 0.75% | +0.05 |
| AJG Arthur J Gallagher & Co. | Add +3.1% | 1.07% | +0.04 |
| CTAS Cintas Corp. | Add +6.1% | 0.46% | +0.04 |
| MZTI The Marzetti Company | Add +6.8% | 0.22% | +0.04 |
| SHOP Shopify Inc. Class A | Add +45.6% | 0.14% | +0.03 |
| GE General Electric | Add +6.8% | 0.12% | +0.03 |
| LIN Linde PLC | Add +1.8% | 0.60% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +40.0% | 0.09% | +0.03 |
| COST Costco Wholesale Corp. | Add +0.6% | 1.73% | +0.03 |
| WMT Walmart Inc. | Add +1.8% | 0.42% | +0.02 |
| VZ Verizon Communications Inc. | Add +4.6% | 0.43% | +0.02 |
| HD Home Depot Inc. | Add +0.1% | 2.27% | +0.01 |
| WST West Pharmaceutical Services | Add +64.4% | 0.03% | +0.01 |
| CHD Church & Dwight Co. Inc. | Add +1.3% | 0.65% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +15.3% | 0.11% | +0.01 |
| MCO Moody's Corp. | Add +13.1% | 0.27% | +0.01 |
| HPQ HP Inc. | New | 0.01% | +0.01 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | New | 0.01% | +0.01 |
| OEF iShares S&P 100 ETF | Add +29.1% | 0.04% | +0.01 |
| STZ Constellation Brands Inc. Class A | Add +0.5% | 0.29% | +0.01 |
| WCC Wesco International Inc. | New | 0.01% | +0.01 |
| CHEF The Chefs' Warehouse Inc. | Add +0.1% | 0.04% | +0.01 |
| IJR iShares Core S&P Small-Cap E | Add +21.9% | 0.05% | +0.01 |
| MUB iShares National Muni Bond E | New | 0.01% | +0.01 |
| HPE Hewlett Packard Enterprise | New | 0.01% | +0.01 |
| VEEV Veeva Systems Inc. Class A | Add +12.6% | 0.03% | +0.01 |
| FAST Fastenal Co. | Add +7.2% | 0.04% | +0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.00% | +0.00 |
| CEG Constellation Energy | New | 0.00% | +0.00 |
| USMV iShares MSCI USA Min Vol Fac | Add +28.6% | 0.02% | +0.00 |
| LYB Lyondellbasell Indu Class A | New | 0.00% | +0.00 |
| CCI Crown Castle Inc. | New | 0.00% | +0.00 |
| WFC Wells Fargo & Co. | Add +0.7% | 0.05% | +0.00 |
| LHX L3HARRIS Technologies Inc. | Add +9.8% | 0.38% | +0.00 |
| A Agilent Technologies Inc. | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 388 | $8.2B | NVDA, AAPL, GOOG, MSFT, ORLY |
| Q1 2026 | 368 | $7.7B | NVDA, AAPL, GOOG, MSFT, ORLY |
| Q4 2025 | 374 | $8.3B | NVDA, AAPL, MSFT, GOOG, ORLY |
| Q3 2025 | 383 | $8.3B | NVDA, MSFT, AAPL, ORLY, GOOG |
| Q2 2025 | 372 | $8.0B | NVDA, MSFT, AAPL, ORLY, V |
| Q1 2025 | 370 | $7.6B | NVDA, AAPL, MSFT, ORLY, V |
| Q4 2024 | 379 | $7.8B | NVDA, AAPL, MSFT, ORLY, V |
| Q3 2024 | 373 | $7.9B | NVDA, AAPL, MSFT, ORLY, V |
| Q2 2024 | 366 | $7.5B | NVDA, MSFT, AAPL, GOOG, ORLY |
| Q1 2024 | 378 | $7.3B | NVDA, MSFT, AAPL, ORLY, V |