Welch & Forbes LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 7, 2025), Welch & Forbes LLC reported 379 stock positions worth $7.8 billion. Its top holding was Nvidia (NVDA) at 6.9% of the portfolio, followed by Apple (AAPL, 5.7%) and Microsoft (MSFT, 4.9%). Compared with Q3 2024, it opened 15 new positions, sold out of 9, added to 115 and reduced 169. The biggest buy was Alphabet Class C (GOOG, shares +0%) and the biggest sale Mettler-Toledo International (MTD, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000105495
- Portfolio Value
- $7.8B (Q4 2024)
- SEC Filing
- 0001085146-25-000876 ↗ filed Feb 7, 2025
Holdings Value
Holdings 379 stocks · $7.8B
| NVDA Nvidia Corp. | 6.89% | 3,987,908 | $535.5M | Reduce -3.8% |
| AAPL Apple Inc. | 5.66% | 1,758,178 | $440.3M | Reduce -0.8% |
| MSFT Microsoft Corp. | 4.91% | 905,642 | $381.7M | Reduce -0.4% |
| ORLY O'reilly Automotive Inc. | 3.05% | 200,368 | $237.6M | Reduce -1.1% |
| V Visa Inc. Class A | 3.03% | 744,750 | $235.4M | Reduce -0.6% |
| GOOG Alphabet Inc. Class C | 2.94% | 1,202,457 | $229.0M | Add +0.1% |
| SYK Stryker Corp. | 2.39% | 517,223 | $186.2M | Reduce -0.5% |
| FISV Fiserv Inc. | 2.31% | 874,761 | $179.7M | Reduce -2.4% |
| HD Home Depot Inc. | 2.15% | 430,645 | $167.5M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 2.15% | 698,451 | $167.4M | Reduce -0.6% |
| DHR Danaher Corp. | 2.02% | 684,853 | $157.2M | Add +1.3% |
| COST Costco Wholesale Corp. | 1.98% | 167,760 | $153.7M | Reduce -0.5% |
| RTX RTX Corp. | 1.74% | 1,171,367 | $135.6M | Reduce -0.4% |
| ANSS Ansys Inc. | 1.72% | 395,770 | $133.5M | Reduce -0.5% |
| PG The Procter & Gamble Co. | 1.71% | 794,281 | $133.2M | Add +0.1% |
| AMZN Amazon.com Inc. | 1.47% | 521,467 | $114.4M | Add +0.1% |
| LLY Eli Lilly & Co. | 1.46% | 146,980 | $113.5M | Add +9.0% |
| CB Chubb Ltd. | 1.44% | 405,865 | $112.1M | Reduce -0.5% |
| ECL Ecolab Inc. | 1.41% | 468,681 | $109.8M | Reduce -0.8% |
| ROP Roper Technologies Inc. | 1.34% | 200,325 | $104.1M | Reduce -0.2% |
| WSO Watsco Inc. | 1.31% | 214,281 | $101.5M | Reduce -0.3% |
| JNJ Johnson & Johnson | 1.29% | 692,606 | $100.2M | Reduce -1.9% |
| MDY State Street SPDR S&P Midcap | 1.26% | 171,847 | $97.9M | Add +22.5% |
| AMP Ameriprise Financial Inc. | 1.23% | 179,999 | $95.8M | Reduce -1.6% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.22% | 787,381 | $95.1M | Reduce -0.7% |
| MCD McDonald's Corp. | 1.16% | 312,504 | $90.6M | Reduce -0.6% |
| PEP Pepsico Inc. | 1.10% | 563,452 | $85.7M | Reduce -1.0% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 1.10% | 300,141 | $85.2M | Reduce -0.9% |
| GOOGL Alphabet Inc. Class A | 1.07% | 440,006 | $83.3M | Reduce -2.0% |
| VRTX Vertex Pharmaceuticals Inc. | 1.02% | 197,781 | $79.6M | Add +0.6% |
| MTD Mettler-Toledo International | 0.96% | 61,309 | $75.0M | Reduce -0.7% |
| RMD Resmed Inc. | 0.96% | 327,770 | $75.0M | Add +0.3% |
| ABT Abbott Laboratories | 0.93% | 636,194 | $72.0M | Reduce -0.5% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.92% | 679,762 | $71.4M | Reduce -1.1% |
| KMX Carmax Inc. | 0.91% | 870,343 | $71.2M | Reduce -2.2% |
| ADP Automatic Data Processing | 0.91% | 242,564 | $71.0M | Reduce -0.1% |
| IDXX Idexx Laboratories Inc. | 0.90% | 169,319 | $70.0M | Add +0.1% |
| META Meta Platforms Inc. Class A | 0.85% | 112,877 | $66.1M | Add +0.0% |
| ABBV Abbvie Inc. | 0.83% | 363,548 | $64.6M | Reduce -0.3% |
| CVX Chevron Corp. | 0.77% | 412,855 | $59.8M | Reduce -1.6% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.73% | 124,428 | $56.4M | Reduce -3.6% |
| PAYX Paychex Inc. | 0.69% | 384,634 | $53.9M | Reduce -0.7% |
| ADBE Adobe Inc. | 0.67% | 116,912 | $52.0M | Reduce -0.3% |
| TMO Thermo Fisher Scientific Inc. | 0.61% | 91,031 | $47.4M | Reduce -3.4% |
| CHD Church & Dwight Co. Inc. | 0.60% | 449,275 | $47.0M | Reduce -0.2% |
| WMT Walmart Inc. | 0.60% | 512,547 | $46.3M | Add +0.6% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.58% | 1,020,575 | $44.9M | Reduce -2.6% |
| VEA Vanguard Ftse Developed ETF | 0.56% | 915,824 | $43.8M | Add +2.1% |
| CMCSA Comcast Corp. Class A | 0.55% | 1,149,128 | $43.1M | Reduce -2.5% |
| ACN Accenture PLC Class A | 0.55% | 121,429 | $42.7M | Add +0.3% |
| BKNG Booking Holdings Inc. | 0.55% | 8,545 | $42.5M | Reduce -1.1% |
| LIN Linde PLC | 0.54% | 100,099 | $41.9M | Add +2.6% |
| XYL Xylem Inc. | 0.51% | 345,032 | $40.0M | Reduce -2.4% |
| NEE Nextera Energy Inc. | 0.51% | 550,794 | $39.5M | Add +1.0% |
| AOS Smith (a.o.) Corp. | 0.50% | 568,613 | $38.8M | Add +0.4% |
| EMLP First Trust North American E | 0.49% | 1,076,331 | $38.4M | Reduce -1.8% |
| LECO Lincoln Electric Holdings | 0.49% | 203,784 | $38.2M | Add +0.7% |
| CSCO Cisco Systems Inc. | 0.49% | 638,752 | $37.8M | Add +1.0% |
| AFL Aflac Inc. | 0.47% | 355,576 | $36.8M | Reduce -0.9% |
| MRK Merck & Co. Inc. | 0.46% | 360,482 | $35.9M | Reduce -1.9% |
| CTAS Cintas Corp. | 0.45% | 193,029 | $35.3M | Reduce -0.1% |
| CSL Carlisle Cos Inc. | 0.44% | 93,248 | $34.4M | Add +4.3% |
| XOM Exxon Mobil Corp. | 0.43% | 313,469 | $33.7M | Add +0.7% |
| AVGO Broadcom Inc. | 0.42% | 141,473 | $32.8M | Add +24.6% |
| DOV Dover Corp. | 0.39% | 161,338 | $30.3M | Reduce -0.8% |
| VZ Verizon Communications Inc. | 0.38% | 733,070 | $29.3M | Reduce -2.5% |
| FTSL First Trust Senior Loan ETF | 0.38% | 633,271 | $29.3M | Add +1.7% |
| LHX L3HARRIS Technologies Inc. | 0.37% | 138,138 | $29.0M | Reduce -1.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.35% | 46,454 | $27.2M | Add +13.0% |
| AXP American Express Co. | 0.34% | 89,872 | $26.7M | Add +0.1% |
| TSCO Tractor Supply Company | 0.33% | 484,922 | $25.7M | Reduce -1.7% |
| OTIS Otis Worldwide Corp. | 0.33% | 277,550 | $25.7M | Reduce -3.5% |
| OMC Omnicom Group | 0.31% | 284,370 | $24.5M | Reduce -0.8% |
| NOW ServiceNow Inc. | 0.30% | 22,254 | $23.6M | Add +28.8% |
| MCO Moody's Corp. | 0.29% | 48,259 | $22.8M | Add +0.1% |
| QCOM Qualcomm Inc. | 0.29% | 145,416 | $22.3M | Reduce -0.1% |
| PFF iShares Preferred & Income S | 0.26% | 653,626 | $20.6M | Reduce -8.8% |
| ORCL Oracle Corp. | 0.24% | 113,900 | $19.0M | Reduce -2.2% |
| KO The Coca-Cola Co. | 0.24% | 299,604 | $18.7M | Reduce -0.5% |
| GSK GSK PLC-Spon ADR | 0.23% | 519,835 | $17.6M | Add +0.0% |
| EW Edwards Lifesciences Corp. | 0.22% | 233,715 | $17.3M | Reduce -4.7% |
| EQIX Equinix Inc. | 0.22% | 18,000 | $17.0M | Add +1.4% |
| STZ Constellation Brands Inc. Class A | 0.22% | 75,870 | $16.8M | Reduce -5.8% |
| CMI Cummins Inc. | 0.21% | 45,930 | $16.0M | Reduce -2.7% |
| BALL Ball Corp. | 0.20% | 284,178 | $15.7M | Reduce -13.3% |
| EMR Emerson Electric Co. | 0.20% | 124,474 | $15.4M | Reduce -1.2% |
| BDX Becton Dickinson and Co. | 0.18% | 62,373 | $14.2M | Reduce -9.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 61,486 | $13.5M | Reduce -1.3% |
| MZTI The Marzetti Company filed as LANCASTER COLONY CORP | 0.17% | 77,372 | $13.4M | Add +0.5% |
| SHOP Shopify Inc. Class A | 0.17% | 124,551 | $13.2M | Add +0.6% |
| BSX Boston Scientific Corp. | 0.17% | 146,466 | $13.1M | Reduce -3.6% |
| EXPD Expeditors Intl Wash Inc. | 0.15% | 105,462 | $11.7M | Reduce -4.8% |
| CGNX Cognex Corp. | 0.15% | 325,265 | $11.7M | Reduce -1.9% |
| PFE Pfizer Inc. | 0.15% | 425,718 | $11.3M | Reduce -6.7% |
| IVV iShares Core S&P 500 ETF | 0.14% | 18,532 | $10.9M | Add +2.7% |
| APD Air Products & Chemicals Inc. | 0.14% | 36,493 | $10.6M | Add +0.0% |
| SBUX Starbucks Corp. | 0.13% | 114,121 | $10.4M | Reduce -4.3% |
| CARR Carrier Global Corp. | 0.13% | 147,716 | $10.1M | Reduce -2.0% |
| SHW The Sherwin-Williams Co. | 0.13% | 28,696 | $9.8M | Add +0.6% |
| PGR Progressive Corp. | 0.12% | 39,045 | $9.4M | Reduce -0.6% |
Portfolio Sells Q3 2024 → Q4 2024
| MTD Mettler-Toledo International | Reduce -0.7% | 0.96% | −0.21 |
| JNJ Johnson & Johnson | Reduce -1.9% | 1.29% | −0.17 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.4% | 0.61% | −0.13 |
| PEP Pepsico Inc. | Reduce -1.0% | 1.10% | −0.13 |
| ECL Ecolab Inc. | Reduce -0.8% | 1.41% | −0.12 |
| IRM Iron Mountain Inc. | Reduce -1.1% | 0.92% | −0.12 |
| ADBE Adobe Inc. | Reduce -0.3% | 0.67% | −0.10 |
| XYL Xylem Inc. | Reduce -2.4% | 0.51% | −0.09 |
| ABBV Abbvie Inc. | Reduce -0.3% | 0.83% | −0.09 |
| ROP Roper Technologies Inc. | Reduce -0.2% | 1.34% | −0.08 |
| BALL Ball Corp. | Reduce -13.3% | 0.20% | −0.08 |
| MSFT Microsoft Corp. | Reduce -0.4% | 4.91% | −0.07 |
| CMCSA Comcast Corp. Class A | Reduce -2.5% | 0.55% | −0.07 |
| RTX RTX Corp. | Reduce -0.4% | 1.74% | −0.07 |
| MRK Merck & Co. Inc. | Reduce -1.9% | 0.46% | −0.07 |
| HD Home Depot Inc. | Reduce -0.1% | 2.15% | −0.07 |
| OMC Omnicom Group | Reduce -0.8% | 0.31% | −0.06 |
| CB Chubb Ltd. | Reduce -0.5% | 1.44% | −0.06 |
| MCD McDonald's Corp. | Reduce -0.6% | 1.16% | −0.05 |
| CTAS Cintas Corp. | Reduce -0.1% | 0.45% | −0.05 |
| VZ Verizon Communications Inc. | Reduce -2.5% | 0.38% | −0.05 |
| OTIS Otis Worldwide Corp. | Reduce -3.5% | 0.33% | −0.05 |
| LHX L3HARRIS Technologies Inc. | Reduce -1.0% | 0.37% | −0.05 |
| STZ Constellation Brands Inc. Class A | Reduce -5.8% | 0.22% | −0.05 |
| WSO Watsco Inc. | Reduce -0.3% | 1.31% | −0.04 |
| PFF iShares Preferred & Income S | Reduce -8.8% | 0.26% | −0.04 |
| AFL Aflac Inc. | Reduce -0.9% | 0.47% | −0.04 |
| AWK American Water Works Co. Inc. | Reduce -16.9% | 0.09% | −0.04 |
| KO The Coca-Cola Co. | Reduce -0.5% | 0.24% | −0.04 |
| EXPD Expeditors Intl Wash Inc. | Reduce -4.8% | 0.15% | −0.04 |
| TSCO Tractor Supply Company | Reduce -1.7% | 0.33% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -3.6% | 0.73% | −0.03 |
| BDX Becton Dickinson and Co. | Reduce -9.7% | 0.18% | −0.03 |
| TD Toronto-Dominion Bank | Reduce -28.4% | 0.05% | −0.03 |
| QCOM Qualcomm Inc. | Reduce -0.1% | 0.29% | −0.03 |
| INTC Intel Corp. | Reduce -15.5% | 0.07% | −0.02 |
| CARR Carrier Global Corp. | Reduce -2.0% | 0.13% | −0.02 |
| PFE Pfizer Inc. | Reduce -6.7% | 0.15% | −0.02 |
| CGNX Cognex Corp. | Reduce -1.9% | 0.15% | −0.02 |
| FTV Fortive Corp. | Reduce -17.4% | 0.08% | −0.02 |
| ICLR Icon PLC | Reduce -0.2% | 0.05% | −0.02 |
| CVS CVS Health Corp. | Reduce -21.4% | 0.02% | −0.02 |
| CVX Chevron Corp. | Reduce -1.6% | 0.77% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -3.8% | 0.08% | −0.02 |
| UPS United Parcel Service Class B | Reduce -8.6% | 0.09% | −0.02 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -11.3% | 0.08% | −0.02 |
| SBUX Starbucks Corp. | Reduce -4.3% | 0.13% | −0.01 |
| MRSH Marsh & McLennan Cos | Reduce -34.7% | 0.02% | −0.01 |
| MDT Medtronic PLC | Reduce -9.2% | 0.05% | −0.01 |
| CAT Caterpillar Inc. | Reduce -4.7% | 0.10% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| GOOG Alphabet Inc. Class C | Add +0.1% | 2.94% | +0.39 |
| MDY State Street SPDR S&P Midcap | Add +22.5% | 1.26% | +0.24 |
| AMZN Amazon.com Inc. | Add +0.1% | 1.47% | +0.24 |
| AVGO Broadcom Inc. | Add +24.6% | 0.42% | +0.17 |
| NOW ServiceNow Inc. | Add +28.8% | 0.30% | +0.11 |
| WMT Walmart Inc. | Add +0.6% | 0.60% | +0.07 |
| CSCO Cisco Systems Inc. | Add +1.0% | 0.49% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +13.0% | 0.35% | +0.05 |
| SHOP Shopify Inc. Class A | Add +0.6% | 0.17% | +0.04 |
| AXP American Express Co. | Add +0.1% | 0.34% | +0.03 |
| VOO Vanguard S&P 500 ETF | Add +154.7% | 0.05% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +57.6% | 0.08% | +0.03 |
| META Meta Platforms Inc. Class A | Add +0.0% | 0.85% | +0.03 |
| EQIX Equinix Inc. | Add +1.4% | 0.22% | +0.02 |
| FTSL First Trust Senior Loan ETF | Add +1.7% | 0.38% | +0.01 |
| GEV GE Vernova Inc. | Add +1.4% | 0.05% | +0.01 |
| TIP iShares Tips Bond ETF | Add +31.3% | 0.04% | +0.01 |
| CRM Salesforce Inc. | Add +3.5% | 0.04% | +0.01 |
| WFC Wells Fargo & Co. | Add +0.4% | 0.04% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +2.7% | 0.14% | +0.01 |
| PEG Public Service Enterprise GP | Add +171.6% | 0.01% | +0.01 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.1% | 0.06% | +0.01 |
| BX Blackstone Inc. | Add +6.4% | 0.03% | +0.01 |
| ACN Accenture PLC Class A | Add +0.3% | 0.55% | +0.00 |
| ETN Eaton Corp. PLC | Add +29.1% | 0.02% | +0.00 |
| TELFY Telefonica SA-Spon ADR | New | 0.00% | +0.00 |
| IWF iShares Russell 1000 Growth | Add +7.9% | 0.02% | +0.00 |
| OEF iShares S&P 100 ETF | Add +0.7% | 0.05% | +0.00 |
| ESGU iShares ESG Aware MSCI USA | New | 0.00% | +0.00 |
| LYV Live Nation Entertainment Inc. | New | 0.00% | +0.00 |
| ROK Rockwell Automation Inc. | New | 0.00% | +0.00 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.00% | +0.00 |
| VRSK Verisk Analytics Inc. | Add +1.0% | 0.07% | +0.00 |
| CIG Cia Energetica DE-Spon ADR | New | 0.00% | +0.00 |
| DE Deere & Co. | Add +7.3% | 0.03% | +0.00 |
| TDG Transdigm Group Inc. | New | 0.00% | +0.00 |
| CBZ Cbiz Inc. | New | 0.00% | +0.00 |
| PRU Prudential Financial Inc. | New | 0.00% | +0.00 |
| SRRK Scholar Rock Holding Corp. | New | 0.00% | +0.00 |
| IWS iShares Russell Mid-Cap Valu | New | 0.00% | +0.00 |
| CDNS Cadence Design SYS Inc. | New | 0.00% | +0.00 |
| EFG iShares MSCI Eafe Growth ETF | New | 0.00% | +0.00 |
| MLM Martin Marietta Materials | New | 0.00% | +0.00 |
| SGI Somnigroup International Inc. | New | 0.00% | +0.00 |
| IVW iShares S&P 500 Growth ETF | Add +18.5% | 0.01% | +0.00 |
| MCO Moody's Corp. | Add +0.1% | 0.29% | +0.00 |
| GS Goldman Sachs Group Inc. | Add +10.1% | 0.01% | +0.00 |
| AGG iShares Core U.S. Aggregate | Add +22.7% | 0.01% | +0.00 |
| PNC PNC Financial Services Group | Add +6.1% | 0.02% | +0.00 |
| BLK BlackRock Inc. | Add +0.8% | 0.02% | +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 |