Welch & Forbes LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 1, 2026), Welch & Forbes LLC reported 368 stock positions worth $7.7 billion. Its top holding was Nvidia (NVDA) at 7.0% of the portfolio, followed by Apple (AAPL, 5.5%) and Alphabet Class C (GOOG, 4.3%). Compared with Q4 2025, it opened 9 new positions, sold out of 15, added to 73 and reduced 191. The biggest buy was Netflix (NFLX, shares +3464%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0000105495
- Portfolio Value
- $7.7B (Q1 2026)
- SEC Filing
- 0000105495-26-000002 ↗ filed May 1, 2026
Holdings Value
Holdings 368 stocks · $7.7B
| NVDA Nvidia Corp. | 6.98% | 3,096,403 | $540.0M | Reduce -7.2% |
| AAPL Apple Inc. | 5.51% | 1,679,909 | $426.3M | Reduce -1.3% |
| GOOG Alphabet Inc. Class C | 4.35% | 1,172,363 | $336.3M | Reduce -1.2% |
| MSFT Microsoft Corp. | 4.22% | 881,583 | $326.3M | Reduce -0.7% |
| ORLY O'reilly Automotive Inc. | 3.38% | 2,832,170 | $261.4M | Reduce -1.3% |
| V Visa Inc. Class A | 2.81% | 719,551 | $217.5M | Reduce -0.8% |
| RTX RTX Corp. | 2.73% | 1,094,594 | $211.1M | Reduce -2.5% |
| JPM JPMorgan Chase & Co. | 2.48% | 652,907 | $192.1M | Reduce -2.0% |
| SYK Stryker Corp. | 2.16% | 509,055 | $167.3M | Reduce -0.7% |
| COST Costco Wholesale Corp. | 2.08% | 161,366 | $160.8M | Reduce -0.6% |
| JNJ Johnson & Johnson | 2.08% | 657,528 | $160.7M | Reduce -1.9% |
| LLY Eli Lilly & Co. | 2.00% | 168,235 | $154.7M | Add +0.3% |
| HD Home Depot Inc. | 1.82% | 428,694 | $141.0M | Add +0.1% |
| CB Chubb Ltd. | 1.63% | 386,756 | $126.1M | Reduce -1.8% |
| ECL Ecolab Inc. | 1.62% | 470,443 | $125.1M | Reduce -0.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.59% | 771,975 | $123.3M | Reduce -0.8% |
| AMZN Amazon.com Inc. | 1.53% | 567,966 | $118.3M | Add +0.8% |
| GOOGL Alphabet Inc. Class A | 1.52% | 409,445 | $117.7M | Reduce -2.8% |
| DHR Danaher Corp. | 1.50% | 612,657 | $116.2M | Reduce -1.0% |
| PG The Procter & Gamble Co. | 1.43% | 763,852 | $110.3M | Reduce -0.6% |
| MDY State Street SPDR S&P Midcap | 1.29% | 161,554 | $99.6M | Reduce -3.1% |
| VRTX Vertex Pharmaceuticals Inc. | 1.27% | 219,669 | $98.1M | Add +0.7% |
| IDXX Idexx Laboratories Inc. | 1.22% | 168,181 | $94.5M | Reduce -0.1% |
| MCD McDonald's Corp. | 1.22% | 303,989 | $94.5M | Reduce -0.8% |
| CVX Chevron Corp. | 1.07% | 400,536 | $82.9M | Reduce -1.8% |
| AMP Ameriprise Financial Inc. | 1.00% | 173,461 | $77.1M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 0.99% | 133,969 | $76.6M | Add +3.0% |
| WSO Watsco Inc. | 0.99% | 209,805 | $76.3M | Reduce -0.4% |
| ABBV Abbvie Inc. | 0.97% | 343,615 | $74.7M | Reduce -0.7% |
| AVGO Broadcom Inc. | 0.97% | 241,441 | $74.7M | Add +5.2% |
| MTD Mettler-Toledo International | 0.96% | 58,807 | $74.2M | Reduce -0.9% |
| RMD Resmed Inc. | 0.95% | 326,407 | $73.3M | Reduce -0.6% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.86% | 652,068 | $66.6M | Reduce -0.7% |
| WMT Walmart Inc. | 0.84% | 523,098 | $65.0M | Reduce -2.3% |
| ABT Abbott Laboratories | 0.84% | 629,836 | $64.7M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.84% | 415,977 | $64.6M | Reduce -3.1% |
| ROP Roper Technologies Inc. | 0.82% | 180,120 | $63.7M | Reduce -7.4% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.82% | 293,288 | $63.5M | Reduce -0.3% |
| NEE Nextera Energy Inc. | 0.81% | 675,388 | $62.7M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 0.80% | 970,411 | $62.2M | Add +0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.73% | 117,536 | $56.3M | Reduce -0.9% |
| LECO Lincoln Electric Holdings | 0.68% | 209,888 | $52.3M | Reduce -1.3% |
| LIN Linde PLC | 0.67% | 105,270 | $52.2M | Add +0.7% |
| XYL Xylem Inc. | 0.64% | 413,855 | $49.5M | Add +3.0% |
| CSCO Cisco Systems Inc. | 0.64% | 633,547 | $49.2M | Reduce -1.4% |
| XOM Exxon Mobil Corp. | 0.63% | 284,982 | $48.4M | Reduce -1.4% |
| PANW Palo Alto Networks Inc. | 0.62% | 300,564 | $48.2M | Add +28.2% |
| LHX L3HARRIS Technologies Inc. | 0.62% | 138,096 | $47.7M | Reduce -2.0% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.62% | 976,595 | $47.6M | Reduce -1.4% |
| CSL Carlisle Cos Inc. | 0.61% | 140,466 | $46.9M | Add +6.8% |
| BKNG Booking Holdings Inc. | 0.59% | 10,870 | $45.8M | Add +2.0% |
| ADP Automatic Data Processing | 0.59% | 223,960 | $45.5M | Reduce -1.1% |
| TMO Thermo Fisher Scientific Inc. | 0.57% | 88,934 | $43.7M | Reduce -0.2% |
| EMLP First Trust North American E | 0.56% | 996,003 | $43.5M | Reduce -4.3% |
| AOS Smith (a.o.) Corp. | 0.49% | 579,780 | $38.2M | Reduce -1.0% |
| MRK Merck & Co. Inc. | 0.49% | 317,368 | $38.2M | Reduce -1.5% |
| CHD Church & Dwight Co. Inc. | 0.46% | 378,902 | $35.4M | Reduce -7.0% |
| AFL Aflac Inc. | 0.45% | 317,011 | $34.8M | Reduce -1.3% |
| PAYX Paychex Inc. | 0.43% | 362,116 | $33.4M | Reduce -1.7% |
| VZ Verizon Communications Inc. | 0.42% | 652,264 | $32.7M | Reduce -1.9% |
| CTAS Cintas Corp. | 0.42% | 190,419 | $32.2M | Reduce -0.1% |
| DOV Dover Corp. | 0.39% | 143,443 | $29.9M | Reduce -0.5% |
| NOW ServiceNow Inc. | 0.39% | 284,864 | $29.8M | Add +25.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.38% | 45,628 | $29.7M | Reduce -18.8% |
| GSK GSK PLC-Spon ADR | 0.37% | 518,597 | $28.6M | No change |
| FTSL First Trust Senior Loan ETF | 0.37% | 631,873 | $28.3M | Reduce -9.3% |
| FISV Fiserv Inc. | 0.37% | 506,394 | $28.3M | Reduce -9.2% |
| EQIX Equinix Inc. | 0.33% | 25,794 | $25.3M | Add +2.4% |
| AXP American Express Co. | 0.32% | 81,764 | $24.7M | Reduce -6.3% |
| CMI Cummins Inc. | 0.30% | 42,811 | $23.0M | Reduce -3.5% |
| MCO Moody's Corp. | 0.29% | 50,795 | $22.2M | Add +1.2% |
| TSCO Tractor Supply Company | 0.28% | 477,916 | $21.6M | Reduce -2.0% |
| KO The Coca-Cola Co. | 0.28% | 281,117 | $21.4M | Reduce -0.9% |
| OTIS Otis Worldwide Corp. | 0.24% | 245,678 | $18.9M | Reduce -0.4% |
| SHOP Shopify Inc. Class A | 0.24% | 153,531 | $18.2M | Add +0.4% |
| OMC Omnicom Group | 0.23% | 238,369 | $18.0M | Reduce -5.6% |
| QCOM Qualcomm Inc. | 0.23% | 138,251 | $17.8M | Reduce -1.3% |
| KMX Carmax Inc. | 0.23% | 426,833 | $17.7M | Reduce -4.4% |
| PFF iShares Preferred & Income S | 0.23% | 584,741 | $17.7M | Reduce -1.6% |
| IJR iShares Core S&P Small-Cap E | 0.23% | 141,144 | $17.5M | Add +2.3% |
| GDX Vaneck Gold Miners ETF | 0.22% | 187,249 | $17.2M | Reduce -12.6% |
| ORCL Oracle Corp. | 0.22% | 113,935 | $16.8M | Add +1.1% |
| ACN Accenture PLC Class A | 0.22% | 84,177 | $16.7M | Reduce -4.4% |
| UBER Uber Technologies Inc. | 0.21% | 224,048 | $16.1M | Reduce -12.1% |
| CGNX Cognex Corp. | 0.20% | 322,893 | $15.8M | Reduce -2.3% |
| EMR Emerson Electric Co. | 0.19% | 110,476 | $14.5M | Reduce -2.4% |
| EW Edwards Lifesciences Corp. | 0.19% | 179,504 | $14.4M | Reduce -1.2% |
| EXPD Expeditors Intl Wash Inc. | 0.19% | 100,357 | $14.4M | Reduce -1.9% |
| CAT Caterpillar Inc. | 0.17% | 19,031 | $13.5M | Reduce -1.9% |
| SNPS Synopsys Inc. | 0.17% | 33,491 | $13.3M | Reduce -5.8% |
| GE General Electric filed as GE AEROSPACE | 0.17% | 45,782 | $13.0M | Add +1.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 53,445 | $13.0M | Reduce -0.9% |
| NFLX Netflix Inc. | 0.15% | 118,448 | $11.4M | Add +3464.5% |
| IVV iShares Core S&P 500 ETF | 0.14% | 17,064 | $11.1M | Reduce -7.0% |
| MZTI The Marzetti Company | 0.13% | 72,423 | $10.0M | Reduce -0.2% |
| PFE Pfizer Inc. | 0.13% | 346,584 | $9.7M | Reduce -2.5% |
| GEV GE Vernova Inc. | 0.13% | 11,124 | $9.7M | Add +1.1% |
| APD Air Products & Chemicals Inc. | 0.12% | 33,262 | $9.7M | Reduce -0.8% |
| NVS Novartis AG-Sponsored ADR | 0.11% | 57,626 | $8.8M | Reduce -5.7% |
| AMGN Amgen Inc. | 0.11% | 24,846 | $8.7M | Reduce -0.3% |
Portfolio Sells Q4 2025 → Q1 2026
| MSFT Microsoft Corp. | Reduce -0.7% | 4.22% | −0.98 |
| NVDA Nvidia Corp. | Reduce -7.2% | 6.98% | −0.56 |
| ADBE Adobe Inc. | Reduce -84.0% | 0.04% | −0.28 |
| V Visa Inc. Class A | Reduce -0.8% | 2.81% | −0.27 |
| ROP Roper Technologies Inc. | Reduce -7.4% | 0.82% | −0.22 |
| DHR Danaher Corp. | Reduce -1.0% | 1.50% | −0.21 |
| GOOG Alphabet Inc. Class C | Reduce -1.2% | 4.35% | −0.16 |
| IDXX Idexx Laboratories Inc. | Reduce -0.1% | 1.22% | −0.16 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −0.13 |
| ABT Abbott Laboratories | Reduce -0.3% | 0.84% | −0.12 |
| ADP Automatic Data Processing | Reduce -1.1% | 0.59% | −0.12 |
| JPM JPMorgan Chase & Co. | Reduce -2.0% | 2.48% | −0.12 |
| AJG Arthur J Gallagher & Co. | Reduce -0.3% | 0.82% | −0.10 |
| AAPL Apple Inc. | Reduce -1.3% | 5.51% | −0.09 |
| FISV Fiserv Inc. | Reduce -9.2% | 0.37% | −0.09 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -18.8% | 0.38% | −0.08 |
| GOOGL Alphabet Inc. Class A | Reduce -2.8% | 1.52% | −0.07 |
| AXP American Express Co. | Reduce -6.3% | 0.32% | −0.07 |
| ACN Accenture PLC Class A | Reduce -4.4% | 0.22% | −0.07 |
| PAYX Paychex Inc. | Reduce -1.7% | 0.43% | −0.07 |
| TMO Thermo Fisher Scientific Inc. | Reduce -0.2% | 0.57% | −0.06 |
| QCOM Qualcomm Inc. | Reduce -1.3% | 0.23% | −0.06 |
| BAC Bank of America Corp. | Reduce -1.4% | 0.62% | −0.04 |
| UBER Uber Technologies Inc. | Reduce -12.1% | 0.21% | −0.04 |
| MTD Mettler-Toledo International | Reduce -0.9% | 0.96% | −0.04 |
| AMP Ameriprise Financial Inc. | Reduce -0.2% | 1.00% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -38.0% | 0.06% | −0.03 |
| SNPS Synopsys Inc. | Reduce -5.8% | 0.17% | −0.03 |
| ICLR Icon PLC | Reduce -54.0% | 0.01% | −0.03 |
| IBM Intl Business Machines Corp. | Reduce -0.9% | 0.17% | −0.03 |
| FTSL First Trust Senior Loan ETF | Reduce -9.3% | 0.37% | −0.02 |
| BDX Becton Dickinson and Co. | Reduce -7.9% | 0.08% | −0.02 |
| SYK Stryker Corp. | Reduce -0.7% | 2.16% | −0.02 |
| CTAS Cintas Corp. | Reduce -0.1% | 0.42% | −0.02 |
| OTIS Otis Worldwide Corp. | Reduce -0.4% | 0.24% | −0.02 |
| TSCO Tractor Supply Company | Reduce -2.0% | 0.28% | −0.02 |
| MZTI The Marzetti Company | Reduce -0.2% | 0.13% | −0.01 |
| OMC Omnicom Group | Reduce -5.6% | 0.23% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -9.5% | 0.08% | −0.01 |
| INTU Intuit Inc. | Reduce -1.6% | 0.03% | −0.01 |
| CRM Salesforce Inc. | Reduce -22.3% | 0.02% | −0.01 |
| RMD Resmed Inc. | Reduce -0.6% | 0.95% | −0.01 |
| GIS General Mills Inc. | Reduce -9.3% | 0.03% | −0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -0.3% | 0.06% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -7.0% | 0.14% | −0.01 |
| PGR Progressive Corp. | Reduce -0.4% | 0.09% | −0.01 |
| WM Waste Management Inc. | Reduce -39.9% | 0.01% | −0.01 |
| VLTO Veralto Corp. | Reduce -39.0% | 0.01% | −0.01 |
| BX Blackstone Inc. | Reduce -4.1% | 0.02% | −0.01 |
| VRSK Verisk Analytics Inc. | Reduce -4.3% | 0.04% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| NFLX Netflix Inc. | Add +3464.5% | 0.15% | +0.14 |
| LIN Linde PLC | Add +0.7% | 0.67% | +0.13 |
| PANW Palo Alto Networks Inc. | Add +28.2% | 0.62% | +0.10 |
| CSL Carlisle Cos Inc. | Add +6.8% | 0.61% | +0.10 |
| EQIX Equinix Inc. | Add +2.4% | 0.33% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +0.3% | 0.80% | +0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Add +0.7% | 1.27% | +0.07 |
| GEV GE Vernova Inc. | Add +1.1% | 0.13% | +0.04 |
| HD Home Depot Inc. | Add +0.1% | 1.82% | +0.04 |
| VLO Valero Energy Corp. | Add +0.3% | 0.07% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +2.3% | 0.23% | +0.03 |
| LMT Lockheed Martin Corp. | Add +1.7% | 0.06% | +0.02 |
| EPD Enterprise Products Partners | New | 0.01% | +0.01 |
| TXN Texas Instruments Inc. | Add +3.7% | 0.07% | +0.01 |
| IJH iShares Core S&P Midcap ETF | Add +14.3% | 0.07% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +68.5% | 0.03% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +0.3% | 0.07% | +0.01 |
| WAT Waters Corp. | Add +103.3% | 0.03% | +0.01 |
| AGG iShares Core U.S. Aggregate | Add +40.3% | 0.04% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +1.6% | 0.11% | +0.01 |
| T AT&T Inc. | Add +0.3% | 0.05% | +0.01 |
| CHEF The Chefs' Warehouse Inc. | Add +21.0% | 0.05% | +0.01 |
| FAST Fastenal Co. | Add +1.6% | 0.04% | +0.01 |
| GLD SPDR Gold Shares | Add +31.9% | 0.02% | +0.01 |
| TIP iShares Tips Bond ETF | Add +2.9% | 0.07% | +0.01 |
| EEM iShares MSCI Emerging Market | Add +44.8% | 0.02% | +0.01 |
| UNP Union Pacific Corp. | Add +0.6% | 0.06% | +0.01 |
| NOC Northrop Grumman Corp. | Add +0.1% | 0.03% | +0.01 |
| HUBB Hubbell Inc. | Add +1.2% | 0.03% | +0.01 |
| PM Philip Morris International | Add +1.6% | 0.04% | +0.00 |
| PH Parker Hannifin Corp. | Add +4.3% | 0.03% | +0.00 |
| AVGO Broadcom Inc. | Add +5.2% | 0.97% | +0.00 |
| ASML ASML Holding NV-NY Reg SHS | Add +1.5% | 0.01% | +0.00 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +2.2% | 0.04% | +0.00 |
| DOW Dow Inc. | New | 0.00% | +0.00 |
| FDX FedEx Corp. | New | 0.00% | +0.00 |
| AME Ametek Inc. | New | 0.00% | +0.00 |
| EQT Eqt Corp. | New | 0.00% | +0.00 |
| MUB iShares National Muni Bond E | Add +77.7% | 0.01% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +0.1% | 0.04% | +0.00 |
| BP BP PLC-Spons ADR | Add +4.7% | 0.01% | +0.00 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.00% | +0.00 |
| VDE Vanguard Energy ETF | New | 0.00% | +0.00 |
| DVY iShares Select Dividend ETF | Add +0.4% | 0.02% | +0.00 |
| MU Micron Technology Inc. | Add +16.9% | 0.01% | +0.00 |
| PNC PNC Financial Services Group | Add +3.9% | 0.03% | +0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +2.8% | 0.08% | +0.00 |
| GS Goldman Sachs Group Inc. | Add +11.1% | 0.02% | +0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.2% | 0.04% | +0.00 |
| DGRO iShares Core Dividend Growth | Add +65.7% | 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 |