Welch & Forbes LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 2, 2024), Welch & Forbes LLC reported 366 stock positions worth $7.5 billion. Its top holding was Nvidia (NVDA) at 7.3% of the portfolio, followed by Microsoft (MSFT, 5.6%) and Apple (AAPL, 5.4%). Compared with Q1 2024, it opened 4 new positions, sold out of 18, added to 86 and reduced 190. The biggest buy was Apple (AAPL, shares +0%) and the biggest sale O'reilly Automotive (ORLY, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000105495
- Portfolio Value
- $7.5B (Q2 2024)
- SEC Filing
- 0001085146-24-003427 ↗ filed Aug 2, 2024
Holdings Value
Holdings 366 stocks · $7.5B
| NVDA Nvidia Corp. | 7.33% | 4,232,411 | $549.1M | Reduce -5.1% |
| MSFT Microsoft Corp. | 5.56% | 911,112 | $416.5M | Add +0.2% |
| AAPL Apple Inc. | 5.37% | 1,787,277 | $402.6M | Add +0.1% |
| GOOG Alphabet Inc. Class C | 3.01% | 1,193,009 | $225.3M | Add +0.5% |
| ORLY O'reilly Automotive Inc. | 2.80% | 205,073 | $209.7M | Reduce -1.2% |
| V Visa Inc. Class A | 2.66% | 751,626 | $199.1M | Reduce -0.3% |
| SYK Stryker Corp. | 2.33% | 519,640 | $174.8M | Reduce -0.4% |
| DHR Danaher Corp. | 2.19% | 678,145 | $163.8M | Add +0.3% |
| COST Costco Wholesale Corp. | 2.00% | 169,811 | $149.9M | Reduce -1.5% |
| JPM JPMorgan Chase & Co. | 1.95% | 709,190 | $146.4M | Reduce -1.1% |
| HD Home Depot Inc. | 1.94% | 430,475 | $145.7M | Reduce -0.3% |
| FISV Fiserv Inc. | 1.82% | 904,892 | $136.3M | Reduce -0.5% |
| PG The Procter & Gamble Co. | 1.76% | 797,072 | $131.9M | Reduce -0.2% |
| ANSS Ansys Inc. | 1.75% | 400,547 | $130.9M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 1.71% | 137,445 | $127.9M | Add +1.2% |
| RTX RTX Corp. | 1.59% | 1,181,640 | $119.3M | Reduce -0.5% |
| ECL Ecolab Inc. | 1.52% | 472,249 | $113.9M | Add +0.3% |
| ROP Roper Technologies Inc. | 1.48% | 199,719 | $110.6M | Add +0.5% |
| JNJ Johnson & Johnson | 1.40% | 716,188 | $105.2M | Reduce -3.5% |
| CB Chubb Ltd. | 1.39% | 409,539 | $103.9M | Reduce -1.1% |
| WSO Watsco Inc. | 1.38% | 216,974 | $103.1M | Reduce -1.3% |
| AMZN Amazon.com Inc. | 1.28% | 487,664 | $96.1M | Add +5.5% |
| VRTX Vertex Pharmaceuticals Inc. | 1.26% | 194,897 | $94.3M | Add +1.0% |
| PEP Pepsico Inc. | 1.25% | 575,134 | $93.5M | Reduce -0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.20% | 800,705 | $89.6M | Add +1.2% |
| GOOGL Alphabet Inc. Class A | 1.13% | 451,436 | $84.9M | Reduce -0.9% |
| MTD Mettler-Toledo International | 1.09% | 62,079 | $81.9M | Reduce -0.9% |
| IDXX Idexx Laboratories Inc. | 1.08% | 169,721 | $81.2M | Reduce -0.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.07% | 305,752 | $80.5M | Reduce -1.5% |
| MCD McDonald's Corp. | 1.05% | 317,185 | $78.7M | Add +0.2% |
| AMP Ameriprise Financial Inc. | 1.05% | 181,813 | $78.4M | Reduce -1.3% |
| MDY State Street SPDR S&P Midcap | 0.99% | 139,912 | $74.3M | Reduce -9.0% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.88% | 711,885 | $66.0M | Reduce -2.2% |
| ABT Abbott Laboratories | 0.88% | 645,512 | $65.7M | Reduce -0.1% |
| ADBE Adobe Inc. | 0.88% | 116,846 | $65.7M | Add +7.5% |
| KMX Carmax Inc. | 0.86% | 891,548 | $64.6M | Reduce -1.0% |
| CVX Chevron Corp. | 0.85% | 410,838 | $63.6M | Add +1.4% |
| ABBV Abbvie Inc. | 0.83% | 370,852 | $62.4M | Reduce -0.3% |
| RMD Resmed Inc. | 0.83% | 325,391 | $62.0M | Add +0.7% |
| META Meta Platforms Inc. Class A | 0.77% | 110,967 | $57.4M | Add +2.4% |
| ADP Automatic Data Processing | 0.77% | 244,205 | $57.4M | Reduce -0.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.70% | 128,142 | $52.4M | Reduce -0.8% |
| TMO Thermo Fisher Scientific Inc. | 0.68% | 93,893 | $50.7M | Add +0.0% |
| CHD Church & Dwight Co. Inc. | 0.63% | 452,141 | $47.3M | Reduce -0.1% |
| MRK Merck & Co. Inc. | 0.63% | 372,011 | $46.8M | Reduce -0.4% |
| PAYX Paychex Inc. | 0.61% | 389,429 | $45.6M | Reduce -1.4% |
| XYL Xylem Inc. | 0.61% | 337,800 | $45.4M | Add +46.3% |
| AOS Smith (a.o.) Corp. | 0.60% | 558,022 | $45.3M | Add +0.2% |
| CMCSA Comcast Corp. Class A | 0.60% | 1,183,288 | $45.1M | Add +0.1% |
| VEA Vanguard Ftse Developed ETF | 0.58% | 878,332 | $43.5M | Add +1.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.56% | 1,041,407 | $42.3M | Reduce -0.7% |
| LIN Linde PLC | 0.56% | 96,850 | $41.8M | Add +2.8% |
| NEE Nextera Energy Inc. | 0.52% | 542,109 | $38.8M | Add +6.9% |
| LECO Lincoln Electric Holdings | 0.49% | 196,812 | $36.9M | Add +0.9% |
| ACN Accenture PLC Class A | 0.48% | 119,501 | $35.9M | Reduce -2.4% |
| CSL Carlisle Cos Inc. | 0.47% | 87,080 | $35.5M | Add +5.8% |
| XOM Exxon Mobil Corp. | 0.47% | 315,144 | $35.1M | Reduce -0.8% |
| WMT Walmart Inc. | 0.46% | 506,711 | $34.8M | Reduce -0.7% |
| CTAS Cintas Corp. | 0.46% | 48,600 | $34.5M | Reduce -0.7% |
| BKNG Booking Holdings Inc. | 0.46% | 8,653 | $34.4M | Reduce -0.6% |
| AFL Aflac Inc. | 0.45% | 382,990 | $34.1M | Reduce -1.6% |
| EMLP First Trust North American E | 0.45% | 1,103,293 | $33.7M | Reduce -0.4% |
| QCOM Qualcomm Inc. | 0.42% | 152,054 | $31.3M | Reduce -1.0% |
| VZ Verizon Communications Inc. | 0.41% | 748,359 | $30.9M | Add +0.8% |
| LHX L3HARRIS Technologies Inc. | 0.41% | 135,646 | $30.5M | Add +3.1% |
| CSCO Cisco Systems Inc. | 0.39% | 628,533 | $29.3M | Reduce -0.5% |
| DOV Dover Corp. | 0.38% | 163,911 | $28.7M | Reduce -1.0% |
| FTSL First Trust Senior Loan ETF | 0.38% | 616,140 | $28.3M | Add +1.9% |
| OTIS Otis Worldwide Corp. | 0.38% | 293,039 | $28.2M | Reduce -1.0% |
| OMC Omnicom Group | 0.35% | 289,394 | $26.2M | Reduce -2.4% |
| TSCO Tractor Supply Company | 0.34% | 99,601 | $25.8M | Reduce -0.8% |
| EW Edwards Lifesciences Corp. | 0.31% | 245,921 | $22.9M | Reduce -0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.30% | 40,626 | $22.3M | Reduce -13.0% |
| PFF iShares Preferred & Income S | 0.29% | 703,013 | $22.1M | Add +2.7% |
| AXP American Express Co. | 0.28% | 89,384 | $21.2M | Add +0.4% |
| BALL Ball Corp. | 0.28% | 354,056 | $20.9M | Reduce -1.6% |
| MCO Moody's Corp. | 0.28% | 48,143 | $20.9M | Reduce -2.3% |
| STZ Constellation Brands Inc. Class A | 0.27% | 78,623 | $20.1M | Add +0.6% |
| GSK GSK PLC-Spon ADR | 0.27% | 520,651 | $20.1M | No change |
| KO The Coca-Cola Co. | 0.26% | 307,029 | $19.3M | Reduce -2.0% |
| BDX Becton Dickinson and Co. | 0.22% | 74,591 | $16.7M | Reduce -12.0% |
| ORCL Oracle Corp. | 0.22% | 117,692 | $16.6M | Reduce -1.2% |
| CGNX Cognex Corp. | 0.22% | 334,839 | $16.2M | Add +3.4% |
| BSX Boston Scientific Corp. | 0.21% | 205,207 | $15.7M | Add +0.1% |
| INTC Intel Corp. | 0.19% | 424,720 | $14.6M | Reduce -0.1% |
| MZTI The Marzetti Company filed as LANCASTER COLONY CORP | 0.19% | 76,879 | $14.1M | Reduce -0.3% |
| EMR Emerson Electric Co. | 0.19% | 126,536 | $13.9M | Reduce -3.3% |
| EXPD Expeditors Intl Wash Inc. | 0.18% | 112,010 | $13.3M | Reduce -2.0% |
| PFE Pfizer Inc. | 0.17% | 465,965 | $12.9M | Reduce -1.2% |
| EQIX Equinix Inc. | 0.17% | 16,855 | $12.9M | Add +119.3% |
| CMI Cummins Inc. | 0.17% | 47,384 | $12.8M | Reduce -0.8% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.15% | 63,595 | $11.2M | Reduce -1.6% |
| AVGO Broadcom Inc. | 0.14% | 6,171 | $10.6M | Add +91.7% |
| CARR Carrier Global Corp. | 0.13% | 153,953 | $9.6M | Reduce -4.8% |
| APD Air Products & Chemicals Inc. | 0.13% | 36,956 | $9.4M | Add +0.9% |
| AWK American Water Works Co. Inc. | 0.12% | 70,849 | $9.2M | Reduce -5.4% |
| SBUX Starbucks Corp. | 0.12% | 124,472 | $9.2M | Reduce -53.0% |
| PGR Progressive Corp. | 0.12% | 42,247 | $8.8M | Reduce -0.0% |
| SHOP Shopify Inc. Class A | 0.12% | 133,430 | $8.8M | Reduce -0.1% |
| IVV iShares Core S&P 500 ETF | 0.12% | 15,974 | $8.8M | Add +26.9% |
Portfolio Sells Q1 2024 → Q2 2024
| ORLY O'reilly Automotive Inc. | Reduce -1.2% | 2.80% | −0.42 |
| HD Home Depot Inc. | Reduce -0.3% | 1.94% | −0.33 |
| V Visa Inc. Class A | Reduce -0.3% | 2.66% | −0.23 |
| SYK Stryker Corp. | Reduce -0.4% | 2.33% | −0.23 |
| KMX Carmax Inc. | Reduce -1.0% | 0.86% | −0.21 |
| SBUX Starbucks Corp. | Reduce -53.0% | 0.12% | −0.21 |
| JNJ Johnson & Johnson | Reduce -3.5% | 1.40% | −0.21 |
| MDY State Street SPDR S&P Midcap | Reduce -9.0% | 0.99% | −0.18 |
| IDXX Idexx Laboratories Inc. | Reduce -0.3% | 1.08% | −0.18 |
| FISV Fiserv Inc. | Reduce -0.5% | 1.82% | −0.18 |
| ANSS Ansys Inc. | Reduce -0.6% | 1.75% | −0.17 |
| PEP Pepsico Inc. | Reduce -0.1% | 1.25% | −0.14 |
| ABT Abbott Laboratories | Reduce -0.1% | 0.88% | −0.13 |
| ACN Accenture PLC Class A | Reduce -2.4% | 0.48% | −0.10 |
| TD Toronto-Dominion Bank | Reduce -50.8% | 0.08% | −0.10 |
| ABBV Abbvie Inc. | Reduce -0.3% | 0.83% | −0.10 |
| CB Chubb Ltd. | Reduce -1.1% | 1.39% | −0.09 |
| ADP Automatic Data Processing | Reduce -0.7% | 0.77% | −0.08 |
| BDX Becton Dickinson and Co. | Reduce -12.0% | 0.22% | −0.07 |
| INTC Intel Corp. | Reduce -0.1% | 0.19% | −0.06 |
| AMP Ameriprise Financial Inc. | Reduce -1.3% | 1.05% | −0.06 |
| PAYX Paychex Inc. | Reduce -1.4% | 0.61% | −0.06 |
| BALL Ball Corp. | Reduce -1.6% | 0.28% | −0.05 |
| MTD Mettler-Toledo International | Reduce -0.9% | 1.09% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -0.4% | 0.63% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.8% | 0.70% | −0.05 |
| OMC Omnicom Group | Reduce -2.4% | 0.35% | −0.04 |
| CSCO Cisco Systems Inc. | Reduce -0.5% | 0.39% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -0.8% | 0.47% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -13.0% | 0.30% | −0.04 |
| MZTI The Marzetti Company | Reduce -0.3% | 0.19% | −0.03 |
| BMY Bristol-Myers Squibb Co. | Reduce -9.5% | 0.06% | −0.03 |
| CVS CVS Health Corp. | Reduce -19.5% | 0.04% | −0.03 |
| OTIS Otis Worldwide Corp. | Reduce -1.0% | 0.38% | −0.03 |
| UPS United Parcel Service Class B | Reduce -6.9% | 0.11% | −0.03 |
| FTV Fortive Corp. | Reduce -2.3% | 0.10% | −0.02 |
| SHOP Shopify Inc. Class A | Reduce -0.1% | 0.12% | −0.02 |
| CMI Cummins Inc. | Reduce -0.8% | 0.17% | −0.02 |
| MDT Medtronic PLC | Reduce -13.7% | 0.06% | −0.02 |
| SYY Sysco Corp. | Reduce -3.9% | 0.08% | −0.02 |
| DIS The Walt Disney Co. | Reduce -4.1% | 0.06% | −0.02 |
| NKE Nike Inc. Class B | Reduce -7.8% | 0.05% | −0.02 |
| IBM Intl Business Machines Corp. | Reduce -1.6% | 0.15% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -1.1% | 1.95% | −0.02 |
| DOV Dover Corp. | Reduce -1.0% | 0.38% | −0.02 |
| EMR Emerson Electric Co. | Reduce -3.3% | 0.19% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -0.2% | 1.76% | −0.02 |
| CHD Church & Dwight Co. Inc. | Reduce -0.1% | 0.63% | −0.02 |
| LOW Lowe's Cos Inc. | Reduce -14.1% | 0.04% | −0.02 |
| BP BP PLC-Spons ADR | Reduce -44.6% | 0.02% | −0.02 |
Portfolio Buys Q1 2024 → Q2 2024
| AAPL Apple Inc. | Add +0.1% | 5.37% | +1.17 |
| GOOG Alphabet Inc. Class C | Add +0.5% | 3.01% | +0.53 |
| MSFT Microsoft Corp. | Add +0.2% | 5.56% | +0.30 |
| LLY Eli Lilly & Co. | Add +1.2% | 1.71% | +0.26 |
| XYL Xylem Inc. | Add +46.3% | 0.61% | +0.20 |
| VRTX Vertex Pharmaceuticals Inc. | Add +1.0% | 1.26% | +0.15 |
| AMZN Amazon.com Inc. | Add +5.5% | 1.28% | +0.14 |
| ADBE Adobe Inc. | Add +7.5% | 0.88% | +0.12 |
| TJX TJX Companies Inc. | Add +1.2% | 1.20% | +0.09 |
| EQIX Equinix Inc. | Add +119.3% | 0.17% | +0.08 |
| AVGO Broadcom Inc. | Add +91.7% | 0.14% | +0.08 |
| NEE Nextera Energy Inc. | Add +6.9% | 0.52% | +0.07 |
| META Meta Platforms Inc. Class A | Add +2.4% | 0.77% | +0.04 |
| CSL Carlisle Cos Inc. | Add +5.8% | 0.47% | +0.03 |
| ECL Ecolab Inc. | Add +0.3% | 1.52% | +0.03 |
| CGNX Cognex Corp. | Add +3.4% | 0.22% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +26.9% | 0.12% | +0.03 |
| LHX L3HARRIS Technologies Inc. | Add +3.1% | 0.41% | +0.02 |
| BSX Boston Scientific Corp. | Add +0.1% | 0.21% | +0.02 |
| VRSK Verisk Analytics Inc. | Add +0.5% | 0.07% | +0.01 |
| OEF iShares S&P 100 ETF | Add +13.3% | 0.04% | +0.01 |
| PANW Palo Alto Networks Inc. | Add +0.3% | 0.04% | +0.01 |
| GDX Vaneck Gold Miners ETF | Add +1.1% | 0.10% | +0.01 |
| AXP American Express Co. | Add +0.4% | 0.28% | +0.00 |
| WST West Pharmaceutical Services | Add +43.1% | 0.04% | +0.00 |
| APD Air Products & Chemicals Inc. | Add +0.9% | 0.13% | +0.00 |
| WAB Wabtec Corp. | Add +23.7% | 0.01% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | New | 0.00% | +0.00 |
| HWM Howmet Aerospace Inc. | New | 0.00% | +0.00 |
| EME Emcor Group Inc. | New | 0.00% | +0.00 |
| ONEQ Fidelity Nasdaq Comp Indx | New | 0.00% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +34.9% | 0.01% | +0.00 |
| IWF iShares Russell 1000 Growth | Add +5.0% | 0.02% | +0.00 |
| ROL Rollins Inc. | Add +1.0% | 0.05% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +2.8% | 0.04% | +0.00 |
| APH Amphenol Corp. Class A | Add +3.8% | 0.01% | +0.00 |
| IVW iShares S&P 500 Growth ETF | Add +17.6% | 0.01% | +0.00 |
| IEFA iShares Core MSCI Eafe ETF | Add +25.8% | 0.01% | +0.00 |
| MORN Morningstar Inc. | Add +41.5% | 0.01% | +0.00 |
| HPE Hewlett Packard Enterprise | Add +11.4% | 0.01% | +0.00 |
| ICE Intercontinental Exchange Inc. | Add +42.9% | 0.00% | +0.00 |
| SPGI S&P Global Inc. | Add +14.9% | 0.01% | +0.00 |
| EOG EOG Resources Inc. | Add +7.3% | 0.04% | +0.00 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +5.9% | 0.01% | +0.00 |
| ENTG Entegris Inc. | Add +23.9% | 0.01% | +0.00 |
| PHYS Sprott Physical Gold Trust | Add +20.6% | 0.01% | +0.00 |
| GS Goldman Sachs Group Inc. | Add +2.9% | 0.01% | +0.00 |
| WCN Waste Connections Inc. | Add +5.5% | 0.01% | +0.00 |
| MS Morgan Stanley | Add +2.3% | 0.01% | +0.00 |
| SHEL Shell PLC-ADR | Add +0.9% | 0.01% | +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 |