Welch Group, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 25, 2025), Welch Group, LLC reported 279 stock positions worth $2.4 billion. Its top holding was Microsoft (MSFT) at 4.3% of the portfolio, followed by Intl Business Machines (IBM, 3.7%) and JPMorgan Chase (JPM, 3.5%). Compared with Q1 2025, it opened 22 new positions, sold out of 8, added to 168 and reduced 25. The biggest buy was Microsoft (MSFT, shares +1%) and the biggest sale Arthur J Gallagher (AJG, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001443095
- Portfolio Value
- $2.4B (Q2 2025)
- SEC Filing
- 0001443095-25-000007 ↗ filed Jul 25, 2025
Holdings Value
Holdings 279 stocks · $2.4B
| MSFT Microsoft Corp. | 4.26% | 204,974 | $102.0M | Add +0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.70% | 300,394 | $88.6M | Reduce -0.3% |
| JPM JPMorgan Chase & Co. | 3.46% | 285,533 | $82.8M | Add +0.5% |
| AAPL Apple Inc. | 3.22% | 375,181 | $77.0M | Add +4.0% |
| RTX RTX Corp. | 3.18% | 521,476 | $76.1M | Reduce -0.1% |
| SFBS Servisfirst Bancshares Inc. | 3.16% | 974,158 | $75.5M | Reduce 0.0% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 3.00% | 224,038 | $71.7M | Reduce -0.8% |
| SO The Southern Co. | 2.95% | 767,455 | $70.5M | Add +0.1% |
| ABBV Abbvie Inc. | 2.85% | 367,359 | $68.2M | Add +1.5% |
| CSCO Cisco Systems Inc. | 2.77% | 956,197 | $66.3M | Add +1.2% |
| HD Home Depot Inc. | 2.71% | 176,698 | $64.8M | Add +2.4% |
| EMR Emerson Electric Co. | 2.69% | 483,059 | $64.4M | Add +1.9% |
| CL Colgate-Palmolive Co. | 2.53% | 665,041 | $60.5M | Add +1.5% |
| MCD McDonald's Corp. | 2.52% | 206,004 | $60.2M | Add +1.1% |
| CVX Chevron Corp. | 2.51% | 419,880 | $60.1M | Add +2.4% |
| QCOM Qualcomm Inc. | 2.50% | 375,898 | $59.9M | Add +3.6% |
| CINF Cincinnati Financial Corp. | 2.49% | 400,492 | $59.6M | Add +0.5% |
| NEE Nextera Energy Inc. | 2.47% | 850,837 | $59.1M | Add +1.9% |
| LMT Lockheed Martin Corp. | 2.46% | 126,912 | $58.8M | Add +2.2% |
| PAYX Paychex Inc. | 2.42% | 398,493 | $58.0M | Add +0.0% |
| JNJ Johnson & Johnson | 2.42% | 378,913 | $57.9M | Add +1.6% |
| XOM Exxon Mobil Corp. | 2.41% | 535,498 | $57.7M | Add +1.6% |
| TFC Truist Financial Corp. | 2.33% | 1,298,835 | $55.8M | Add +3.5% |
| PG The Procter & Gamble Co. | 2.25% | 337,798 | $53.8M | Add +1.4% |
| TXN Texas Instruments Inc. | 2.19% | 252,853 | $52.5M | Add +2.8% |
| ED Consolidated Edison Inc. | 2.16% | 514,010 | $51.6M | Add +0.1% |
| VZ Verizon Communications Inc. | 2.08% | 1,147,934 | $49.7M | Add +0.9% |
| PEP Pepsico Inc. | 2.01% | 363,869 | $48.0M | Add +3.8% |
| KMB Kimberly-Clark Corp. | 1.98% | 367,551 | $47.4M | Add +1.2% |
| PFE Pfizer Inc. | 1.93% | 1,908,773 | $46.3M | Add +4.5% |
| GIS General Mills Inc. | 1.68% | 777,702 | $40.3M | Add +1.9% |
| NVDA Nvidia Corp. | 1.22% | 184,091 | $29.1M | Add +2.6% |
| KO The Coca-Cola Co. | 0.77% | 259,317 | $18.3M | Add +1.0% |
| CAT Caterpillar Inc. | 0.64% | 39,634 | $15.4M | Add +4.4% |
| ORCL Oracle Corp. | 0.60% | 65,885 | $14.4M | Add +4.4% |
| AMZN Amazon.com Inc. | 0.56% | 60,924 | $13.4M | Add +4.7% |
| DE Deere & Co. | 0.54% | 25,557 | $13.0M | Add +1.7% |
| V Visa Inc. Class A | 0.53% | 35,425 | $12.6M | Add +2.0% |
| GS Goldman Sachs Group Inc. | 0.49% | 16,404 | $11.6M | Add +3.1% |
| META Meta Platforms Inc. Class A | 0.48% | 15,686 | $11.6M | Add +3.9% |
| GOOGL Alphabet Inc. Class A | 0.47% | 64,262 | $11.3M | Add +4.0% |
| IVV iShares Core S&P 500 ETF | 0.46% | 17,635 | $10.9M | Add +0.2% |
| ABT Abbott Laboratories | 0.43% | 74,915 | $10.2M | Add +6.2% |
| AMD Advanced Micro Devices | 0.42% | 70,087 | $9.9M | Add +11.9% |
| BX Blackstone Inc. | 0.39% | 62,641 | $9.4M | Add +5.8% |
| AVGO Broadcom Inc. | 0.38% | 32,562 | $9.0M | Add +14.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.37% | 71,935 | $8.9M | Add +4.4% |
| MA Mastercard Inc. Class A | 0.36% | 15,507 | $8.7M | Add +3.4% |
| SYK Stryker Corp. | 0.36% | 21,736 | $8.6M | Add +4.7% |
| AFL Aflac Inc. | 0.35% | 78,407 | $8.3M | Reduce -1.8% |
| CARR Carrier Global Corp. | 0.33% | 109,266 | $8.0M | Add +5.5% |
| SHW The Sherwin-Williams Co. | 0.33% | 22,897 | $7.9M | Add +4.0% |
| VMC Vulcan Materials Co. | 0.31% | 27,990 | $7.3M | Add +2.2% |
| ACN Accenture PLC Class A | 0.29% | 23,300 | $7.0M | Add +8.8% |
| TGT Target Corp. | 0.25% | 61,631 | $6.1M | Add +14.4% |
| AXP American Express Co. | 0.25% | 18,833 | $6.0M | Add +0.1% |
| GL Globe Life Inc. | 0.25% | 47,577 | $5.9M | Reduce -0.3% |
| VOO Vanguard S&P 500 ETF | 0.22% | 9,258 | $5.3M | Add +21.8% |
| LLY Eli Lilly & Co. | 0.21% | 6,510 | $5.1M | Add +1.2% |
| WMT Walmart Inc. | 0.20% | 47,970 | $4.7M | Add +1.8% |
| PM Philip Morris International | 0.16% | 21,656 | $3.9M | Add +0.3% |
| SNV Synovus Financial Corp. | 0.15% | 67,708 | $3.5M | Reduce -0.2% |
| RF Regions Financial Corp. | 0.14% | 137,556 | $3.2M | Add +1.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.13% | 5,052 | $3.1M | Add +36.5% |
| SHY iShares 1-3 Year Treasury Bo | 0.12% | 34,529 | $2.9M | Add +37.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.11% | 4,839 | $2.7M | Add +29.8% |
| MRK Merck & Co. Inc. | 0.11% | 33,286 | $2.6M | Add +4.5% |
| MO Altria Group Inc. | 0.10% | 42,318 | $2.5M | Add +3.2% |
| T AT&T Inc. | 0.10% | 85,164 | $2.5M | Reduce -1.4% |
| GLD SPDR Gold Shares | 0.10% | 7,944 | $2.4M | Add +4.6% |
| GOOG Alphabet Inc. Class C | 0.10% | 12,936 | $2.3M | Add +5.9% |
| VGSH Vanguard Short-Term Treasury | 0.09% | 37,476 | $2.2M | Reduce -14.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.09% | 23,718 | $2.2M | Add +91.4% |
| CR Crane Co. | 0.09% | 11,000 | $2.1M | No change |
| RSG Republic Services Inc. | 0.08% | 8,123 | $2.0M | Add +0.0% |
| AON Aon PLC Class A | 0.08% | 5,130 | $1.8M | Add +0.0% |
| WFC Wells Fargo & Co. | 0.08% | 22,467 | $1.8M | Add +4.7% |
| GGG Graco Inc. | 0.07% | 20,653 | $1.8M | Reduce -13.2% |
| MLI Mueller Industries Inc. | 0.07% | 22,000 | $1.7M | No change |
| COST Costco Wholesale Corp. | 0.07% | 1,755 | $1.7M | Reduce -5.0% |
| HON Honeywell International Inc. | 0.07% | 7,386 | $1.7M | Add +0.0% |
| WELL Welltower Inc. | 0.07% | 10,703 | $1.6M | Add +0.0% |
| GPC Genuine Parts Co. | 0.07% | 13,017 | $1.6M | Add +0.0% |
| WM Waste Management Inc. | 0.06% | 6,790 | $1.6M | Add +0.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.06% | 16,936 | $1.5M | No change |
| DUK Duke Energy Corp. | 0.06% | 12,400 | $1.5M | Add +0.7% |
| NOC Northrop Grumman Corp. | 0.06% | 2,872 | $1.4M | Add +0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.06% | 28,697 | $1.4M | Add +2.5% |
| WTS Watts Water Technologies-A | 0.06% | 5,400 | $1.3M | No change |
| MOD Modine Manufacturing Co. | 0.05% | 13,000 | $1.3M | No change |
| MDLZ Mondelez International Inc. Class A | 0.05% | 18,889 | $1.3M | Add +0.7% |
| TXT Textron Inc. | 0.05% | 15,400 | $1.2M | No change |
| ORLY O'reilly Automotive Inc. | 0.05% | 13,440 | $1.2M | Add +239.4% |
| NFLX Netflix Inc. | 0.05% | 901 | $1.2M | Add +0.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.05% | 9,661 | $1.2M | Add +1.0% |
| VONE Vanguard Russell 1000 | 0.05% | 4,237 | $1.2M | No change |
| GATX Gatx Corp. | 0.05% | 7,512 | $1.2M | No change |
| NVS Novartis AG-Sponsored ADR | 0.05% | 9,466 | $1.1M | Add +0.2% |
| BATRA Atlanta Braves Holdings in-A | 0.04% | 20,976 | $1.0M | No change |
| UCB United Community Banks | 0.04% | 34,558 | $1.0M | No change |
Options reported separately and not counted above: V puts ($710K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $228 (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AP.WS Ampco-Pittsburgh Corp. -CW25 | *W EXP 08/01/202 | 12,000 | $228 | No change |
Total filed on the 13F, all lines: $2.4B.
Portfolio Sells Q1 2025 → Q2 2025
| AJG Arthur J Gallagher & Co. | Reduce -0.8% | 3.00% | −0.39 |
| SFBS Servisfirst Bancshares Inc. | Reduce 0.0% | 3.16% | −0.35 |
| AFL Aflac Inc. | Reduce -1.8% | 0.35% | −0.04 |
| GL Globe Life Inc. | Reduce -0.3% | 0.25% | −0.03 |
| VGSH Vanguard Short-Term Treasury | Reduce -14.8% | 0.09% | −0.02 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.01 |
| GGG Graco Inc. | Reduce -13.2% | 0.07% | −0.01 |
| DOW Dow Inc. | Sold out | 0.00% | −0.01 |
| CAG Conagra Brands Inc. | Sold out | 0.00% | −0.01 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.01 |
| EPC Edgewell Personal Care Co. | Sold out | 0.00% | −0.01 |
| ENR Energizer Holdings Inc. | Sold out | 0.00% | −0.01 |
| LNT Alliant Energy Corp. | Sold out | 0.00% | −0.01 |
| CPB The Campbell's Company | Sold out | 0.00% | −0.01 |
| T AT&T Inc. | Reduce -1.4% | 0.10% | −0.00 |
| COST Costco Wholesale Corp. | Reduce -5.0% | 0.07% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -20.7% | 0.02% | −0.00 |
| PTLC Pacer Trendpilot US Large Ca | Reduce -0.6% | 0.03% | −0.00 |
| PSX Phillips 66 | Reduce -5.6% | 0.02% | −0.00 |
| PRA Proassurance Corp. | Reduce -11.5% | 0.01% | −0.00 |
| UL Unilever PLC | Reduce -4.0% | 0.03% | −0.00 |
| CRM Salesforce Inc. | Reduce -2.9% | 0.02% | −0.00 |
| INTC Intel Corp. | Reduce -1.1% | 0.01% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.1% | 0.01% | −0.00 |
| NSC Norfolk Southern Corp. | Reduce -1.9% | 0.02% | +0.00 |
| PBT Permian Basin Royalty Trust | Reduce -2.2% | 0.01% | +0.00 |
| TSLA Tesla Inc. | Reduce -7.9% | 0.04% | +0.00 |
| GE General Electric | Reduce -3.6% | 0.02% | +0.00 |
| XLK SS Technology Select Sector | Reduce -4.2% | 0.03% | +0.00 |
| MU Micron Technology Inc. | Reduce -0.8% | 0.02% | +0.01 |
| SNV Synovus Financial Corp. | Reduce -0.2% | 0.15% | +0.01 |
| RTX RTX Corp. | Reduce -0.1% | 3.18% | +0.16 |
| IBM Intl Business Machines Corp. | Reduce -0.3% | 3.70% | +0.47 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +0.5% | 4.26% | +0.86 |
| EMR Emerson Electric Co. | Add +1.9% | 2.69% | +0.43 |
| JPM JPMorgan Chase & Co. | Add +0.5% | 3.46% | +0.43 |
| NVDA Nvidia Corp. | Add +2.6% | 1.22% | +0.35 |
| TXN Texas Instruments Inc. | Add +2.8% | 2.19% | +0.29 |
| CSCO Cisco Systems Inc. | Add +1.2% | 2.77% | +0.24 |
| ORCL Oracle Corp. | Add +4.4% | 0.60% | +0.21 |
| AVGO Broadcom Inc. | Add +14.4% | 0.38% | +0.16 |
| AMD Advanced Micro Devices | Add +11.9% | 0.42% | +0.13 |
| GS Goldman Sachs Group Inc. | Add +3.1% | 0.49% | +0.11 |
| TFC Truist Financial Corp. | Add +3.5% | 2.33% | +0.10 |
| META Meta Platforms Inc. Class A | Add +3.9% | 0.48% | +0.10 |
| CAT Caterpillar Inc. | Add +4.4% | 0.64% | +0.09 |
| QCOM Qualcomm Inc. | Add +3.6% | 2.50% | +0.07 |
| AMZN Amazon.com Inc. | Add +4.7% | 0.56% | +0.07 |
| GOOGL Alphabet Inc. Class A | Add +4.0% | 0.47% | +0.05 |
| VOO Vanguard S&P 500 ETF | Add +21.8% | 0.22% | +0.05 |
| CARR Carrier Global Corp. | Add +5.5% | 0.33% | +0.05 |
| LMT Lockheed Martin Corp. | Add +2.2% | 2.46% | +0.05 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +91.4% | 0.09% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +36.5% | 0.13% | +0.04 |
| QQQ Invesco QQQ Trust Series 1 | Add +29.8% | 0.11% | +0.03 |
| ORLY O'reilly Automotive Inc. | Add +239.4% | 0.05% | +0.03 |
| BX Blackstone Inc. | Add +5.8% | 0.39% | +0.03 |
| AXP American Express Co. | Add +0.1% | 0.25% | +0.03 |
| DE Deere & Co. | Add +1.7% | 0.54% | +0.03 |
| SHY iShares 1-3 Year Treasury Bo | Add +37.1% | 0.12% | +0.03 |
| SYK Stryker Corp. | Add +4.7% | 0.36% | +0.03 |
| IVV iShares Core S&P 500 ETF | Add +0.2% | 0.46% | +0.03 |
| VMC Vulcan Materials Co. | Add +2.2% | 0.31% | +0.02 |
| ABT Abbott Laboratories | Add +6.2% | 0.43% | +0.02 |
| WMT Walmart Inc. | Add +1.8% | 0.20% | +0.02 |
| PM Philip Morris International | Add +0.3% | 0.16% | +0.02 |
| TSPA T Rowe Price US Eqy Research | New | 0.01% | +0.01 |
| COIN Coinbase Global Inc. Class A | New | 0.01% | +0.01 |
| CEG Constellation Energy | New | 0.01% | +0.01 |
| NFLX Netflix Inc. | Add +0.5% | 0.05% | +0.01 |
| TJX TJX Companies Inc. | Add +4.4% | 0.37% | +0.01 |
| CDNS Cadence Design SYS Inc. | New | 0.01% | +0.01 |
| GOOG Alphabet Inc. Class C | Add +5.9% | 0.10% | +0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +53.0% | 0.03% | +0.01 |
| SMH Vaneck Semiconductor ETF | Add +21.5% | 0.03% | +0.01 |
| MCHP Microchip Technology Inc. | New | 0.01% | +0.01 |
| WLDN Willdan Group Inc. | New | 0.01% | +0.01 |
| DG Dollar General Corp. | New | 0.01% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.01% | +0.01 |
| URA Global X Uranium ETF | New | 0.01% | +0.01 |
| LHX L3HARRIS Technologies Inc. | New | 0.01% | +0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.01% | +0.01 |
| DXJ Wisdomtree Japan Hedged Eq | New | 0.01% | +0.01 |
Options Activity Q1 2025 → Q2 2025
| V Visa Inc. Class A | put | New | 2,000 | $710K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |