Welch & Forbes LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), Welch & Forbes LLC reported 373 stock positions worth $7.9 billion. Its top holding was Nvidia (NVDA) at 6.4% of the portfolio, followed by Apple (AAPL, 5.3%) and Microsoft (MSFT, 5.0%). Compared with Q2 2024, it opened 11 new positions, sold out of 4, added to 101 and reduced 170. The biggest buy was Home Depot (HD, shares +0%) and the biggest sale Nvidia (NVDA, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000105495
- Portfolio Value
- $7.9B (Q3 2024)
- SEC Filing
- 0001085146-24-005341 ↗ filed Nov 4, 2024
Holdings Value
Holdings 373 stocks · $7.9B
| NVDA Nvidia Corp. | 6.41% | 4,144,588 | $503.3M | Reduce -2.1% |
| AAPL Apple Inc. | 5.26% | 1,772,556 | $413.0M | Reduce -0.8% |
| MSFT Microsoft Corp. | 4.98% | 909,531 | $391.4M | Reduce -0.2% |
| ORLY O'reilly Automotive Inc. | 2.97% | 202,622 | $233.3M | Reduce -1.2% |
| V Visa Inc. Class A | 2.62% | 749,306 | $206.0M | Reduce -0.3% |
| GOOG Alphabet Inc. Class C | 2.56% | 1,201,644 | $200.9M | Add +0.7% |
| DHR Danaher Corp. | 2.39% | 676,150 | $188.0M | Reduce -0.3% |
| SYK Stryker Corp. | 2.39% | 519,718 | $187.8M | Add +0.0% |
| HD Home Depot Inc. | 2.22% | 430,981 | $174.6M | Add +0.1% |
| FISV Fiserv Inc. | 2.05% | 896,594 | $161.1M | Reduce -0.9% |
| COST Costco Wholesale Corp. | 1.90% | 168,538 | $149.4M | Reduce -0.8% |
| JPM JPMorgan Chase & Co. | 1.89% | 702,477 | $148.1M | Reduce -0.9% |
| RTX RTX Corp. | 1.81% | 1,176,575 | $142.6M | Reduce -0.4% |
| PG The Procter & Gamble Co. | 1.75% | 793,775 | $137.5M | Reduce -0.4% |
| ANSS Ansys Inc. | 1.61% | 397,819 | $126.8M | Reduce -0.7% |
| ECL Ecolab Inc. | 1.54% | 472,455 | $120.6M | Add +0.0% |
| LLY Eli Lilly & Co. | 1.52% | 134,892 | $119.5M | Reduce -1.9% |
| CB Chubb Ltd. | 1.50% | 408,002 | $117.7M | Reduce -0.4% |
| JNJ Johnson & Johnson | 1.46% | 706,124 | $114.4M | Reduce -1.4% |
| ROP Roper Technologies Inc. | 1.42% | 200,651 | $111.7M | Add +0.5% |
| WSO Watsco Inc. | 1.35% | 214,903 | $105.7M | Reduce -0.9% |
| AMZN Amazon.com Inc. | 1.23% | 520,698 | $97.0M | Add +6.8% |
| PEP Pepsico Inc. | 1.23% | 568,928 | $96.7M | Reduce -1.1% |
| MCD McDonald's Corp. | 1.22% | 314,305 | $95.7M | Reduce -0.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.19% | 792,877 | $93.2M | Reduce -1.0% |
| MTD Mettler-Toledo International | 1.18% | 61,734 | $92.6M | Reduce -0.6% |
| VRTX Vertex Pharmaceuticals Inc. | 1.16% | 196,619 | $91.4M | Add +0.9% |
| AMP Ameriprise Financial Inc. | 1.09% | 182,934 | $85.9M | Add +0.6% |
| IDXX Idexx Laboratories Inc. | 1.09% | 169,237 | $85.5M | Reduce -0.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.08% | 302,758 | $85.2M | Reduce -1.0% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 1.04% | 687,469 | $81.7M | Reduce -3.4% |
| MDY State Street SPDR S&P Midcap | 1.02% | 140,310 | $79.9M | Add +0.3% |
| RMD Resmed Inc. | 1.02% | 326,952 | $79.8M | Add +0.5% |
| GOOGL Alphabet Inc. Class A | 0.95% | 449,145 | $74.5M | Reduce -0.5% |
| ABT Abbott Laboratories | 0.93% | 639,109 | $72.9M | Reduce -1.0% |
| ABBV Abbvie Inc. | 0.92% | 364,569 | $72.0M | Reduce -1.7% |
| KMX Carmax Inc. | 0.88% | 890,089 | $68.9M | Reduce -0.2% |
| ADP Automatic Data Processing | 0.85% | 242,737 | $67.2M | Reduce -0.6% |
| META Meta Platforms Inc. Class A | 0.82% | 112,835 | $64.6M | Add +1.7% |
| CVX Chevron Corp. | 0.79% | 419,528 | $61.8M | Add +2.1% |
| ADBE Adobe Inc. | 0.77% | 117,255 | $60.7M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.76% | 129,093 | $59.4M | Add +0.7% |
| TMO Thermo Fisher Scientific Inc. | 0.74% | 94,277 | $58.3M | Add +0.4% |
| PAYX Paychex Inc. | 0.66% | 387,158 | $52.0M | Reduce -0.6% |
| AOS Smith (a.o.) Corp. | 0.65% | 566,403 | $50.9M | Add +1.5% |
| CMCSA Comcast Corp. Class A | 0.63% | 1,178,355 | $49.2M | Reduce -0.4% |
| XYL Xylem Inc. | 0.61% | 353,387 | $47.7M | Add +4.6% |
| VEA Vanguard Ftse Developed ETF | 0.60% | 896,950 | $47.4M | Add +2.1% |
| CHD Church & Dwight Co. Inc. | 0.60% | 450,243 | $47.1M | Reduce -0.4% |
| LIN Linde PLC | 0.59% | 97,538 | $46.5M | Add +0.7% |
| NEE Nextera Energy Inc. | 0.59% | 545,410 | $46.1M | Add +0.6% |
| ACN Accenture PLC Class A | 0.54% | 121,059 | $42.8M | Add +1.3% |
| MRK Merck & Co. Inc. | 0.53% | 367,565 | $41.7M | Reduce -1.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.53% | 1,047,468 | $41.6M | Add +0.6% |
| WMT Walmart Inc. | 0.52% | 509,473 | $41.1M | Add +0.6% |
| CSL Carlisle Cos Inc. | 0.51% | 89,448 | $40.2M | Add +2.7% |
| AFL Aflac Inc. | 0.51% | 358,814 | $40.1M | Reduce -6.3% |
| CTAS Cintas Corp. | 0.51% | 193,286 | $39.8M | Reduce -0.6% |
| LECO Lincoln Electric Holdings | 0.49% | 202,317 | $38.8M | Add +2.8% |
| EMLP First Trust North American E | 0.47% | 1,096,529 | $36.8M | Reduce -0.6% |
| XOM Exxon Mobil Corp. | 0.46% | 311,341 | $36.5M | Reduce -1.2% |
| BKNG Booking Holdings Inc. | 0.46% | 8,641 | $36.4M | Reduce -0.1% |
| VZ Verizon Communications Inc. | 0.43% | 751,565 | $33.8M | Add +0.4% |
| CSCO Cisco Systems Inc. | 0.43% | 632,407 | $33.7M | Add +0.6% |
| LHX L3HARRIS Technologies Inc. | 0.42% | 139,484 | $33.2M | Add +2.8% |
| DOV Dover Corp. | 0.40% | 162,665 | $31.2M | Reduce -0.8% |
| OTIS Otis Worldwide Corp. | 0.38% | 287,515 | $29.9M | Reduce -1.9% |
| OMC Omnicom Group | 0.38% | 286,780 | $29.7M | Reduce -0.9% |
| TSCO Tractor Supply Company | 0.37% | 98,689 | $28.7M | Reduce -0.9% |
| FTSL First Trust Senior Loan ETF | 0.36% | 622,706 | $28.6M | Add +1.1% |
| QCOM Qualcomm Inc. | 0.32% | 145,570 | $24.8M | Reduce -4.3% |
| AXP American Express Co. | 0.31% | 89,774 | $24.3M | Add +0.4% |
| PFF iShares Preferred & Income S | 0.30% | 716,537 | $23.8M | Add +1.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.30% | 41,120 | $23.6M | Add +1.2% |
| MCO Moody's Corp. | 0.29% | 48,206 | $22.9M | Add +0.1% |
| BALL Ball Corp. | 0.28% | 327,775 | $22.3M | Reduce -7.4% |
| KO The Coca-Cola Co. | 0.28% | 301,058 | $21.6M | Reduce -1.9% |
| GSK GSK PLC-Spon ADR | 0.27% | 519,819 | $21.3M | Reduce -0.2% |
| STZ Constellation Brands Inc. Class A | 0.26% | 80,553 | $20.8M | Add +2.5% |
| ORCL Oracle Corp. | 0.25% | 116,446 | $19.8M | Reduce -1.1% |
| AVGO Broadcom Inc. | 0.25% | 113,540 | $19.6M | Add +84.0% |
| BDX Becton Dickinson and Co. | 0.21% | 69,065 | $16.7M | Reduce -7.4% |
| EW Edwards Lifesciences Corp. | 0.21% | 245,111 | $16.2M | Reduce -0.3% |
| EQIX Equinix Inc. | 0.20% | 17,744 | $15.8M | Add +5.3% |
| NOW ServiceNow Inc. | 0.20% | 17,284 | $15.5M | Add +1069.4% |
| CMI Cummins Inc. | 0.19% | 47,199 | $15.3M | Reduce -0.4% |
| EXPD Expeditors Intl Wash Inc. | 0.19% | 110,810 | $14.6M | Reduce -1.1% |
| EMR Emerson Electric Co. | 0.18% | 125,931 | $13.8M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.18% | 62,288 | $13.8M | Reduce -2.1% |
| MZTI The Marzetti Company filed as LANCASTER COLONY CORP | 0.17% | 77,019 | $13.6M | Add +0.2% |
| CGNX Cognex Corp. | 0.17% | 331,734 | $13.4M | Reduce -0.9% |
| PFE Pfizer Inc. | 0.17% | 456,190 | $13.2M | Reduce -2.1% |
| BSX Boston Scientific Corp. | 0.16% | 152,013 | $12.7M | Reduce -25.9% |
| CARR Carrier Global Corp. | 0.15% | 150,673 | $12.1M | Reduce -2.1% |
| SBUX Starbucks Corp. | 0.15% | 119,303 | $11.6M | Reduce -4.2% |
| SHW The Sherwin-Williams Co. | 0.14% | 28,515 | $10.9M | Reduce -0.9% |
| APD Air Products & Chemicals Inc. | 0.14% | 36,487 | $10.9M | Reduce -1.3% |
| IVV iShares Core S&P 500 ETF | 0.13% | 18,041 | $10.4M | Add +12.9% |
| AWK American Water Works Co. Inc. | 0.13% | 69,186 | $10.1M | Reduce -2.4% |
| PGR Progressive Corp. | 0.13% | 39,297 | $10.0M | Reduce -7.0% |
Portfolio Sells Q2 2024 → Q3 2024
| NVDA Nvidia Corp. | Reduce -2.1% | 6.41% | −0.92 |
| MSFT Microsoft Corp. | Reduce -0.2% | 4.98% | −0.58 |
| LLY Eli Lilly & Co. | Reduce -1.9% | 1.52% | −0.19 |
| GOOGL Alphabet Inc. Class A | Reduce -0.5% | 0.95% | −0.19 |
| ANSS Ansys Inc. | Reduce -0.7% | 1.61% | −0.13 |
| AAPL Apple Inc. | Reduce -0.8% | 5.26% | −0.12 |
| INTC Intel Corp. | Reduce -27.6% | 0.09% | −0.10 |
| QCOM Qualcomm Inc. | Reduce -4.3% | 0.32% | −0.10 |
| EW Edwards Lifesciences Corp. | Reduce -0.3% | 0.21% | −0.10 |
| COST Costco Wholesale Corp. | Reduce -0.8% | 1.90% | −0.10 |
| MRK Merck & Co. Inc. | Reduce -1.2% | 0.53% | −0.09 |
| JPM JPMorgan Chase & Co. | Reduce -0.9% | 1.89% | −0.07 |
| BSX Boston Scientific Corp. | Reduce -25.9% | 0.16% | −0.05 |
| CGNX Cognex Corp. | Reduce -0.9% | 0.17% | −0.04 |
| V Visa Inc. Class A | Reduce -0.3% | 2.62% | −0.03 |
| CHD Church & Dwight Co. Inc. | Reduce -0.4% | 0.60% | −0.03 |
| WSO Watsco Inc. | Reduce -0.9% | 1.35% | −0.03 |
| DNA Ginkgo Bioworks Holdings Inc. | Reduce -68.8% | 0.01% | −0.02 |
| NKE Nike Inc. Class B | Reduce -46.8% | 0.03% | −0.02 |
| PEP Pepsico Inc. | Reduce -1.1% | 1.23% | −0.02 |
| ICLR Icon PLC | Reduce -1.5% | 0.07% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 1.75% | −0.01 |
| BDX Becton Dickinson and Co. | Reduce -7.4% | 0.21% | −0.01 |
| TJX TJX Companies Inc. | Reduce -1.0% | 1.19% | −0.01 |
| EMR Emerson Electric Co. | Reduce -0.5% | 0.18% | −0.01 |
| IWM iShares Russell 2000 ETF | Reduce -13.5% | 0.09% | −0.01 |
| UPS United Parcel Service Class B | Reduce -3.4% | 0.11% | −0.01 |
| DIS The Walt Disney Co. | Reduce -7.0% | 0.05% | −0.01 |
| BSV Vanguard Short-Term Bond ETF | Reduce -16.7% | 0.03% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -9.0% | 0.08% | −0.01 |
| JILL J. Jill Inc. | Reduce -8.0% | 0.01% | −0.01 |
| WFC Wells Fargo & Co. | Reduce -3.7% | 0.03% | −0.01 |
| FTV Fortive Corp. | Reduce -8.1% | 0.10% | −0.00 |
| INTU Intuit Inc. | Reduce -3.2% | 0.03% | −0.00 |
| PFE Pfizer Inc. | Reduce -2.1% | 0.17% | −0.00 |
| AMGN Amgen Inc. | Reduce -1.4% | 0.10% | −0.00 |
| VLTO Veralto Corp. | Reduce -20.9% | 0.03% | −0.00 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -3.9% | 0.10% | −0.00 |
| EOG EOG Resources Inc. | Reduce -3.1% | 0.04% | −0.00 |
| PH Parker Hannifin Corp. | Reduce -29.0% | 0.02% | −0.00 |
| XOM Exxon Mobil Corp. | Reduce -1.2% | 0.46% | −0.00 |
| MRSH Marsh & McLennan Cos | Reduce -9.3% | 0.04% | −0.00 |
| TD Toronto-Dominion Bank | Reduce -11.6% | 0.08% | −0.00 |
| GM General Motors Co. | Reduce -11.2% | 0.01% | −0.00 |
| SHEL Shell PLC-ADR | Reduce -22.6% | 0.01% | −0.00 |
| APA Apa Corp. | Sold out | 0.00% | −0.00 |
| VWO Vanguard Ftse Emerging Marke | Reduce -9.8% | 0.04% | −0.00 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.00 |
| ONEQ Fidelity Nasdaq Comp Indx | Sold out | 0.00% | −0.00 |
| GNTX Gentex Corp. | Reduce -6.7% | 0.01% | −0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| HD Home Depot Inc. | Add +0.1% | 2.22% | +0.28 |
| RMD Resmed Inc. | Add +0.5% | 1.02% | +0.19 |
| NOW ServiceNow Inc. | Add +1069.4% | 0.20% | +0.18 |
| AVGO Broadcom Inc. | Add +84.0% | 0.25% | +0.11 |
| NEE Nextera Energy Inc. | Add +0.6% | 0.59% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +0.4% | 0.74% | +0.07 |
| ACN Accenture PLC Class A | Add +1.3% | 0.54% | +0.07 |
| WMT Walmart Inc. | Add +0.6% | 0.52% | +0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +0.7% | 0.76% | +0.06 |
| SYK Stryker Corp. | Add +0.0% | 2.39% | +0.06 |
| META Meta Platforms Inc. Class A | Add +1.7% | 0.82% | +0.06 |
| AMP Ameriprise Financial Inc. | Add +0.6% | 1.09% | +0.05 |
| AOS Smith (a.o.) Corp. | Add +1.5% | 0.65% | +0.04 |
| CSL Carlisle Cos Inc. | Add +2.7% | 0.51% | +0.04 |
| CSCO Cisco Systems Inc. | Add +0.6% | 0.43% | +0.04 |
| LIN Linde PLC | Add +0.7% | 0.59% | +0.03 |
| EQIX Equinix Inc. | Add +5.3% | 0.20% | +0.03 |
| AXP American Express Co. | Add +0.4% | 0.31% | +0.03 |
| MDY State Street SPDR S&P Midcap | Add +0.3% | 1.02% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +2.1% | 0.60% | +0.02 |
| VZ Verizon Communications Inc. | Add +0.4% | 0.43% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +12.9% | 0.13% | +0.01 |
| ECL Ecolab Inc. | Add +0.0% | 1.54% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +2.8% | 0.42% | +0.01 |
| GDX Vaneck Gold Miners ETF | Add +2.3% | 0.11% | +0.01 |
| MCO Moody's Corp. | Add +0.1% | 0.29% | +0.01 |
| LOW Lowe's Cos Inc. | Add +1.2% | 0.05% | +0.01 |
| PFF iShares Preferred & Income S | Add +1.9% | 0.30% | +0.01 |
| MA Mastercard Inc. Class A | Add +2.2% | 0.10% | +0.01 |
| OEF iShares S&P 100 ETF | Add +17.5% | 0.05% | +0.01 |
| MDB Mongodb Inc. | Add +7.1% | 0.07% | +0.01 |
| CHKP Check Point Software Tech | Add +0.1% | 0.09% | +0.01 |
| TSLA Tesla Inc. | Add +1.6% | 0.03% | +0.01 |
| UNH Unitedhealth Group Inc. | Add +4.5% | 0.04% | +0.01 |
| BND Vanguard Total Bond Market | Add +84.1% | 0.01% | +0.01 |
| VGT Vanguard Info Tech ETF | New | 0.01% | +0.01 |
| BX Blackstone Inc. | Add +1.5% | 0.02% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Add +128.3% | 0.01% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +6.2% | 0.05% | +0.00 |
| AMT American Tower Corp. | Add +3.6% | 0.03% | +0.00 |
| PM Philip Morris International | Add +0.6% | 0.03% | +0.00 |
| IEF iShares 7-10 Year Treasury B | New | 0.00% | +0.00 |
| DE Deere & Co. | Add +0.8% | 0.03% | +0.00 |
| SPYM Ste STR SPDR PT S&P 500 ETF | New | 0.00% | +0.00 |
| GL Globe Life Inc. | New | 0.00% | +0.00 |
| BLK BlackRock Finance Inc. | Add +2.6% | 0.02% | +0.00 |
| CBT Cabot Corp. | New | 0.00% | +0.00 |
| TT Trane Technologies PLC | New | 0.00% | +0.00 |
| D Dominion Energy Inc. | New | 0.00% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +12.4% | 0.06% | +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 |