Welch Group, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 8, 2025), Welch Group, LLC reported 265 stock positions worth $2.3 billion. Its top holding was Servisfirst Bancshares (SFBS) at 3.5% of the portfolio, followed by Apple (AAPL, 3.5%) and Microsoft (MSFT, 3.4%). Compared with Q4 2024, it opened 17 new positions, sold out of 14, added to 82 and reduced 69. The biggest buy was Cisco Systems (CSCO, shares +550%) and the biggest sale Unilever (UL, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001443095
- Portfolio Value
- $2.3B (Q1 2025)
- SEC Filing
- 0001443095-25-000003 ↗ filed Apr 8, 2025
Holdings Value
Holdings 265 stocks · $2.3B
| SFBS Servisfirst Bancshares Inc. | 3.51% | 974,185 | $79.8M | Reduce -5.9% |
| AAPL Apple Inc. | 3.46% | 360,722 | $78.6M | Reduce -0.2% |
| MSFT Microsoft Corp. | 3.40% | 203,897 | $77.2M | Add +1.3% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 3.38% | 225,825 | $77.0M | Reduce -3.6% |
| ABBV Abbvie Inc. | 3.27% | 362,012 | $74.3M | Reduce -0.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.23% | 301,213 | $73.5M | Reduce -5.7% |
| SO The Southern Co. | 3.07% | 766,450 | $69.8M | Reduce -1.8% |
| JPM JPMorgan Chase & Co. | 3.04% | 284,147 | $69.0M | Reduce -5.6% |
| RTX RTX Corp. | 3.02% | 522,020 | $68.8M | Reduce -3.7% |
| CVX Chevron Corp. | 3.00% | 410,177 | $68.1M | Add +4.0% |
| MCD McDonald's Corp. | 2.75% | 203,824 | $62.6M | Add +2.2% |
| XOM Exxon Mobil Corp. | 2.73% | 527,239 | $62.1M | Add +3.0% |
| HD Home Depot Inc. | 2.72% | 172,569 | $61.8M | Add +1.4% |
| JNJ Johnson & Johnson | 2.68% | 372,781 | $61.0M | Add +9.8% |
| CL Colgate-Palmolive Co. | 2.68% | 655,352 | $60.8M | Add +3.8% |
| PAYX Paychex Inc. | 2.65% | 398,409 | $60.2M | Reduce -1.3% |
| NEE Nextera Energy Inc. | 2.59% | 835,011 | $58.8M | Add +4.1% |
| CINF Cincinnati Financial Corp. | 2.55% | 398,679 | $58.0M | Reduce -2.1% |
| CSCO Cisco Systems Inc. | 2.53% | 944,561 | $57.5M | Add +550.3% |
| PG The Procter & Gamble Co. | 2.46% | 333,073 | $56.0M | Add +2.1% |
| ED Consolidated Edison Inc. | 2.46% | 513,393 | $55.8M | Add +2.1% |
| QCOM Qualcomm Inc. | 2.44% | 362,799 | $55.4M | Add +3.3% |
| LMT Lockheed Martin Corp. | 2.41% | 124,203 | $54.8M | Add +5.5% |
| PEP Pepsico Inc. | 2.30% | 350,706 | $52.3M | Add +11.0% |
| EMR Emerson Electric Co. | 2.27% | 474,075 | $51.5M | Reduce -1.3% |
| KMB Kimberly-Clark Corp. | 2.25% | 363,350 | $51.1M | Add +2.5% |
| VZ Verizon Communications Inc. | 2.25% | 1,137,904 | $51.1M | Add +5.9% |
| TFC Truist Financial Corp. | 2.23% | 1,254,371 | $50.8M | Add +0.6% |
| PFE Pfizer Inc. | 2.03% | 1,826,932 | $46.1M | Add +76.9% |
| GIS General Mills Inc. | 1.99% | 763,572 | $45.1M | Add +11.5% |
| TXN Texas Instruments Inc. | 1.91% | 245,860 | $43.4M | Add +3.5% |
| NVDA Nvidia Corp. | 0.87% | 179,394 | $19.7M | Reduce -1.8% |
| KO The Coca-Cola Co. | 0.79% | 256,665 | $18.1M | Add +2.9% |
| CAT Caterpillar Inc. | 0.55% | 37,970 | $12.5M | Add +3.1% |
| V Visa Inc. Class A | 0.52% | 34,716 | $11.9M | Add +10.4% |
| DE Deere & Co. | 0.51% | 25,125 | $11.7M | Add +1.6% |
| AMZN Amazon.com Inc. | 0.49% | 58,213 | $11.2M | Add +1.4% |
| IVV iShares Core S&P 500 ETF | 0.43% | 17,603 | $9.8M | Reduce -28.7% |
| GOOGL Alphabet Inc. Class A | 0.42% | 61,795 | $9.5M | Add +4.0% |
| ABT Abbott Laboratories | 0.41% | 70,553 | $9.2M | Add +2.8% |
| ORCL Oracle Corp. | 0.39% | 63,107 | $8.9M | Add +1.5% |
| AFL Aflac Inc. | 0.39% | 79,800 | $8.8M | Reduce -2.9% |
| META Meta Platforms Inc. Class A | 0.38% | 15,098 | $8.7M | Add +0.3% |
| GS Goldman Sachs Group Inc. | 0.38% | 15,903 | $8.6M | Add +0.2% |
| BX Blackstone Inc. | 0.36% | 59,206 | $8.2M | Add +3.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.36% | 68,904 | $8.1M | Add +3.3% |
| MA Mastercard Inc. Class A | 0.36% | 15,002 | $8.1M | Add +3.3% |
| SYK Stryker Corp. | 0.33% | 20,763 | $7.6M | Add +5.3% |
| SHW The Sherwin-Williams Co. | 0.33% | 22,005 | $7.5M | Add +5.5% |
| CARR Carrier Global Corp. | 0.29% | 103,549 | $6.6M | Add +8.9% |
| ACN Accenture PLC Class A | 0.29% | 21,415 | $6.5M | Add +10.5% |
| AMD Advanced Micro Devices | 0.28% | 62,616 | $6.5M | Add +24.1% |
| VMC Vulcan Materials Co. | 0.28% | 27,399 | $6.4M | Reduce -1.4% |
| GL Globe Life Inc. | 0.27% | 47,705 | $6.2M | Reduce -0.8% |
| TGT Target Corp. | 0.25% | 53,887 | $5.6M | Add +27.7% |
| LLY Eli Lilly & Co. | 0.23% | 6,435 | $5.3M | Reduce -1.0% |
| AXP American Express Co. | 0.22% | 18,809 | $5.0M | Reduce -0.1% |
| AVGO Broadcom Inc. | 0.21% | 28,464 | $4.8M | Add +68.8% |
| WMT Walmart Inc. | 0.18% | 47,134 | $4.0M | Add +0.8% |
| VOO Vanguard S&P 500 ETF | 0.17% | 7,604 | $3.9M | Reduce -0.2% |
| PM Philip Morris International | 0.15% | 21,597 | $3.4M | Add +0.1% |
| SNV Synovus Financial Corp. | 0.14% | 67,843 | $3.1M | No change |
| RF Regions Financial Corp. | 0.13% | 135,160 | $2.9M | Reduce -3.6% |
| MRK Merck & Co. Inc. | 0.13% | 31,867 | $2.8M | Add +3.9% |
| VGSH Vanguard Short-Term Treasury | 0.11% | 44,013 | $2.6M | Add +25.0% |
| T AT&T Inc. | 0.11% | 86,351 | $2.4M | Add +1.1% |
| MO Altria Group Inc. | 0.10% | 40,993 | $2.4M | Reduce -0.2% |
| GLD SPDR Gold Shares | 0.09% | 7,596 | $2.2M | Reduce -2.2% |
| SHY iShares 1-3 Year Treasury Bo | 0.09% | 25,192 | $2.1M | Add +26.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.09% | 3,700 | $2.1M | Reduce -56.2% |
| AON Aon PLC Class A | 0.09% | 5,129 | $2.0M | Reduce -2.7% |
| GGG Graco Inc. | 0.09% | 23,791 | $2.0M | No change |
| RSG Republic Services Inc. | 0.09% | 8,122 | $1.9M | No change |
| GOOG Alphabet Inc. Class C | 0.08% | 12,215 | $1.9M | Reduce -3.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.08% | 3,729 | $1.7M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 0.08% | 1,848 | $1.7M | Reduce -3.0% |
| MLI Mueller Industries Inc. | 0.07% | 22,000 | $1.7M | No change |
| CR Crane Co. | 0.07% | 11,000 | $1.7M | No change |
| WELL Welltower Inc. | 0.07% | 10,700 | $1.6M | No change |
| HON Honeywell International Inc. | 0.07% | 7,383 | $1.6M | Reduce -0.3% |
| WM Waste Management Inc. | 0.07% | 6,788 | $1.5M | No change |
| GPC Genuine Parts Co. | 0.07% | 13,016 | $1.5M | No change |
| WFC Wells Fargo & Co. | 0.07% | 21,461 | $1.5M | Reduce -0.4% |
| DUK Duke Energy Corp. | 0.06% | 12,319 | $1.5M | Add +0.0% |
| NOC Northrop Grumman Corp. | 0.06% | 2,870 | $1.5M | No change |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.06% | 16,936 | $1.4M | No change |
| MDLZ Mondelez International Inc. Class A | 0.06% | 18,766 | $1.3M | Reduce -0.4% |
| OKE Oneok Inc. | 0.05% | 12,269 | $1.2M | No change |
| GATX Gatx Corp. | 0.05% | 7,512 | $1.2M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.05% | 28,011 | $1.2M | Reduce -19.3% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.05% | 12,394 | $1.1M | Add +4.2% |
| TXT Textron Inc. | 0.05% | 15,400 | $1.1M | No change |
| WTS Watts Water Technologies-A | 0.05% | 5,400 | $1.1M | No change |
| VONE Vanguard Russell 1000 | 0.05% | 4,237 | $1.1M | Reduce -3.0% |
| NVS Novartis AG-Sponsored ADR | 0.05% | 9,446 | $1.1M | Reduce -0.1% |
| COP Conocophillips | 0.05% | 10,350 | $1.1M | Add +9.8% |
| MOD Modine Manufacturing Co. | 0.05% | 13,000 | $1.0M | No change |
| UCB United Community Banks | 0.04% | 34,558 | $961K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.04% | 9,562 | $938K | Reduce -1.1% |
| XYL Xylem Inc. | 0.04% | 7,800 | $932K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $180 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AP.WS Ampco-Pittsburgh Corp. -CW25 | *W EXP 08/01/202 | 12,000 | $180 | No change |
Total filed on the 13F, all lines: $2.3B.
Portfolio Sells Q4 2024 → Q1 2025
| UL Unilever PLC | Reduce -98.8% | 0.03% | −2.18 |
| AAPL Apple Inc. | Reduce -0.2% | 3.46% | −0.65 |
| XLV SS Health Care Select Sector | Sold out | 0.00% | −0.60 |
| SFBS Servisfirst Bancshares Inc. | Reduce -5.9% | 3.51% | −0.48 |
| EMR Emerson Electric Co. | Reduce -1.3% | 2.27% | −0.42 |
| NVDA Nvidia Corp. | Reduce -1.8% | 0.87% | −0.27 |
| IVV iShares Core S&P 500 ETF | Reduce -28.7% | 0.43% | −0.23 |
| JPM JPMorgan Chase & Co. | Reduce -5.6% | 3.04% | −0.21 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -56.2% | 0.09% | −0.13 |
| CINF Cincinnati Financial Corp. | Reduce -2.1% | 2.55% | −0.07 |
| VMC Vulcan Materials Co. | Reduce -1.4% | 0.28% | −0.04 |
| XLP SS Consumer Staples Sel Sect | Sold out | 0.00% | −0.04 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.04 |
| AXP American Express Co. | Reduce -0.1% | 0.22% | −0.03 |
| GOOG Alphabet Inc. Class C | Reduce -3.4% | 0.08% | −0.03 |
| XLE SS Energy Select Sector | Reduce -55.2% | 0.02% | −0.03 |
| RF Regions Financial Corp. | Reduce -3.6% | 0.13% | −0.02 |
| BAC Bank of America Corp. | Reduce -19.3% | 0.05% | −0.02 |
| HRI Herc Holdings Inc. | Reduce -0.5% | 0.04% | −0.02 |
| VOO Vanguard S&P 500 ETF | Reduce -0.2% | 0.17% | −0.01 |
| XLC SS Comm Select Sector SPDR | Reduce -43.0% | 0.02% | −0.01 |
| DVY iShares Select Dividend ETF | Reduce -40.9% | 0.02% | −0.01 |
| IYH iShares U.S. Healthcare ETF | Sold out | 0.00% | −0.01 |
| IHE iShares US Pharmaceuticals E | Sold out | 0.00% | −0.01 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.01 |
| MINT PIMCO Enhanced Short Maturit | Sold out | 0.00% | −0.01 |
| TFIN Triumph Financial Inc. | Sold out | 0.00% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.01 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -0.4% | 0.08% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.01 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.01 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.01 |
| JEPI JPMorgan Equity Premium Inco | Reduce -41.0% | 0.01% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -1.9% | 0.03% | −0.01 |
| ACIC American Coastal Insurance C | Reduce -30.5% | 0.01% | −0.01 |
| HON Honeywell International Inc. | Reduce -0.3% | 0.07% | −0.01 |
| DIS The Walt Disney Co. | Reduce -1.1% | 0.04% | −0.01 |
| XLK SS Technology Select Sector | Reduce -1.6% | 0.03% | −0.01 |
| VONE Vanguard Russell 1000 | Reduce -3.0% | 0.05% | −0.01 |
| PTLC Pacer Trendpilot US Large Ca | Reduce -6.4% | 0.04% | −0.01 |
| URI United Rentals Inc. | Reduce -1.5% | 0.03% | −0.01 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.01 |
| JEPQ JPM Nasdaq Equity Premium | Reduce -24.8% | 0.01% | −0.00 |
| COST Costco Wholesale Corp. | Reduce -3.0% | 0.08% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -5.1% | 0.02% | −0.00 |
| BMY Bristol-Myers Squibb Co. | Reduce -14.1% | 0.03% | −0.00 |
| GILD Gilead Sciences Inc. | Reduce -27.4% | 0.01% | −0.00 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -6.8% | 0.01% | −0.00 |
| CLX Clorox Company | Reduce -1.2% | 0.01% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| CSCO Cisco Systems Inc. | Add +550.3% | 2.53% | +2.14 |
| PFE Pfizer Inc. | Add +76.9% | 2.03% | +0.80 |
| JNJ Johnson & Johnson | Add +9.8% | 2.68% | +0.49 |
| CVX Chevron Corp. | Add +4.0% | 3.00% | +0.46 |
| ED Consolidated Edison Inc. | Add +2.1% | 2.46% | +0.44 |
| VZ Verizon Communications Inc. | Add +5.9% | 2.25% | +0.33 |
| XOM Exxon Mobil Corp. | Add +3.0% | 2.73% | +0.29 |
| KMB Kimberly-Clark Corp. | Add +2.5% | 2.25% | +0.16 |
| MCD McDonald's Corp. | Add +2.2% | 2.75% | +0.15 |
| PEP Pepsico Inc. | Add +11.0% | 2.30% | +0.14 |
| KO The Coca-Cola Co. | Add +2.9% | 0.79% | +0.10 |
| CL Colgate-Palmolive Co. | Add +3.8% | 2.68% | +0.09 |
| V Visa Inc. Class A | Add +10.4% | 0.52% | +0.08 |
| ABT Abbott Laboratories | Add +2.8% | 0.41% | +0.06 |
| DE Deere & Co. | Add +1.6% | 0.51% | +0.04 |
| AVGO Broadcom Inc. | Add +68.8% | 0.21% | +0.03 |
| PM Philip Morris International | Add +0.1% | 0.15% | +0.03 |
| GIS General Mills Inc. | Add +11.5% | 1.99% | +0.03 |
| VGSH Vanguard Short-Term Treasury | Add +25.0% | 0.11% | +0.02 |
| T AT&T Inc. | Add +1.1% | 0.11% | +0.02 |
| SHY iShares 1-3 Year Treasury Bo | Add +26.4% | 0.09% | +0.02 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | New | 0.02% | +0.02 |
| NLY Annaly Capital Management Inc. | New | 0.01% | +0.01 |
| IWM iShares Russell 2000 ETF | New | 0.01% | +0.01 |
| MA Mastercard Inc. Class A | Add +3.3% | 0.36% | +0.01 |
| GE General Electric | New | 0.01% | +0.01 |
| SYK Stryker Corp. | Add +5.3% | 0.33% | +0.01 |
| NEM Newmont Corp. | Add +39.4% | 0.03% | +0.01 |
| SHW The Sherwin-Williams Co. | Add +5.5% | 0.33% | +0.01 |
| VXF Vanguard Extended Market ETF | New | 0.01% | +0.01 |
| AEP American Electric Power | Add +18.9% | 0.04% | +0.01 |
| CMCSA Comcast Corp. Class A | New | 0.01% | +0.01 |
| ADBE Adobe Inc. | New | 0.01% | +0.01 |
| CAH Cardinal Health Inc. | New | 0.01% | +0.01 |
| LNT Alliant Energy Corp. | New | 0.01% | +0.01 |
| PG The Procter & Gamble Co. | Add +2.1% | 2.46% | +0.01 |
| NFLX Netflix Inc. | Add +20.9% | 0.04% | +0.01 |
| RIVN Rivian Automotive Inc. Class A | New | 0.01% | +0.01 |
| AMD Advanced Micro Devices | Add +24.1% | 0.28% | +0.01 |
| COP Conocophillips | Add +9.8% | 0.05% | +0.01 |
| SJT San Juan Basin Royalty TR | New | 0.01% | +0.01 |
| DUK Duke Energy Corp. | Add +0.0% | 0.06% | +0.01 |
| MPT Medical Properties Trust Inc. | Add +16.8% | 0.01% | +0.00 |
| MTR Mesa Royalty Trust | New | 0.00% | +0.00 |
| YUM Yum! Brands Inc. | Add +0.0% | 0.03% | +0.00 |
| PBT Permian Basin Royalty Trust | Add +68.3% | 0.01% | +0.00 |
| NUE Nucor Corp. | Add +16.4% | 0.01% | +0.00 |
| GTN Gray Media Inc. | New | 0.00% | +0.00 |
| SVM Silvercorp Metals Inc. | New | 0.00% | +0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +1.5% | 0.02% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 320 | $2.9B | AAPL, CSCO, ABBV, JPM, JNJ |
| Q1 2026 | 308 | $2.7B | AAPL, RTX, CVX, XOM, JNJ |
| Q4 2025 | 307 | $2.6B | AAPL, MSFT, RTX, JPM, IBM |
| Q3 2025 | 298 | $2.6B | MSFT, AAPL, JPM, RTX, ABBV |
| Q2 2025 | 279 | $2.4B | MSFT, IBM, JPM, AAPL, RTX |
| Q1 2025 | 265 | $2.3B | SFBS, AAPL, MSFT, AJG, ABBV |
| Q4 2024 | 262 | $2.2B | AAPL, SFBS, MSFT, JPM, IBM |
| Q3 2024 | 268 | $2.3B | SFBS, MSFT, AAPL, IBM, ABBV |
| Q2 2024 | 266 | $2.1B | MSFT, SFBS, AAPL, QCOM, JPM |
| Q1 2024 | 234 | $2.0B | MSFT, SFBS, ABBV, HD, JPM |