Welch Group, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Welch Group, LLC reported 298 stock positions worth $2.6 billion. Its top holding was Microsoft (MSFT) at 4.2% of the portfolio, followed by Apple (AAPL, 3.8%) and JPMorgan Chase (JPM, 3.5%). Compared with Q2 2025, it opened 25 new positions, sold out of 6, added to 140 and reduced 50. The biggest buy was Apple (AAPL, shares +1%) and the biggest sale Emerson Electric (EMR, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- BIRMINGHAM, AL
- CIK
- 0001443095
- Portfolio Value
- $2.6B (Q3 2025)
- SEC Filing
- 0001443095-25-000008 ↗ filed Oct 14, 2025
Holdings Value
Holdings 298 stocks · $2.6B
| MSFT Microsoft Corp. | 4.19% | 207,049 | $107.2M | Add +1.0% |
| AAPL Apple Inc. | 3.76% | 378,099 | $96.3M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 3.51% | 285,172 | $90.0M | Reduce -0.1% |
| RTX RTX Corp. | 3.39% | 518,150 | $86.7M | Reduce -0.6% |
| ABBV Abbvie Inc. | 3.35% | 370,508 | $85.8M | Add +0.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 3.32% | 301,260 | $85.0M | Add +0.3% |
| SFBS Servisfirst Bancshares Inc. | 3.09% | 983,776 | $79.2M | Add +1.0% |
| SO The Southern Co. | 2.86% | 772,574 | $73.2M | Add +0.7% |
| HD Home Depot Inc. | 2.83% | 178,824 | $72.5M | Add +1.2% |
| JNJ Johnson & Johnson | 2.78% | 383,400 | $71.1M | Add +1.2% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 2.74% | 226,514 | $70.2M | Add +1.1% |
| CVX Chevron Corp. | 2.59% | 427,227 | $66.3M | Add +1.8% |
| CSCO Cisco Systems Inc. | 2.58% | 966,136 | $66.1M | Add +1.0% |
| NEE Nextera Energy Inc. | 2.57% | 870,827 | $65.7M | Add +2.4% |
| LMT Lockheed Martin Corp. | 2.55% | 130,685 | $65.2M | Add +3.0% |
| QCOM Qualcomm Inc. | 2.49% | 383,804 | $63.8M | Add +2.1% |
| MCD McDonald's Corp. | 2.49% | 209,774 | $63.7M | Add +1.8% |
| CINF Cincinnati Financial Corp. | 2.48% | 402,235 | $63.6M | Add +0.4% |
| EMR Emerson Electric Co. | 2.47% | 482,412 | $63.3M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 2.40% | 544,075 | $61.3M | Add +1.6% |
| TFC Truist Financial Corp. | 2.34% | 1,311,936 | $60.0M | Add +1.0% |
| CL Colgate-Palmolive Co. | 2.14% | 685,785 | $54.8M | Add +3.1% |
| PG The Procter & Gamble Co. | 2.07% | 344,698 | $53.0M | Add +2.0% |
| ED Consolidated Edison Inc. | 2.05% | 522,697 | $52.5M | Add +1.7% |
| PAYX Paychex Inc. | 2.01% | 406,394 | $51.5M | Add +2.0% |
| VZ Verizon Communications Inc. | 2.00% | 1,166,318 | $51.3M | Add +1.6% |
| PFE Pfizer Inc. | 1.98% | 1,986,914 | $50.6M | Add +4.1% |
| TXN Texas Instruments Inc. | 1.85% | 257,192 | $47.3M | Add +1.7% |
| KMB Kimberly-Clark Corp. | 1.83% | 376,064 | $46.8M | Add +2.3% |
| PEP Pepsico Inc. | 1.81% | 330,181 | $46.4M | Reduce -9.3% |
| GIS General Mills Inc. | 1.62% | 822,280 | $41.5M | Add +5.7% |
| NVDA Nvidia Corp. | 1.33% | 182,318 | $34.0M | Reduce -1.0% |
| CAT Caterpillar Inc. | 0.76% | 40,697 | $19.4M | Add +2.7% |
| ORCL Oracle Corp. | 0.74% | 67,411 | $19.0M | Add +2.3% |
| KO The Coca-Cola Co. | 0.70% | 269,136 | $17.8M | Add +3.8% |
| GOOGL Alphabet Inc. Class A | 0.61% | 64,689 | $15.7M | Add +0.7% |
| AMZN Amazon.com Inc. | 0.54% | 63,023 | $13.8M | Add +3.5% |
| GS Goldman Sachs Group Inc. | 0.51% | 16,502 | $13.1M | Add +0.6% |
| V Visa Inc. Class A | 0.51% | 37,881 | $12.9M | Add +6.9% |
| IVV iShares Core S&P 500 ETF | 0.48% | 18,254 | $12.2M | Add +3.5% |
| DE Deere & Co. | 0.47% | 26,258 | $12.0M | Add +2.7% |
| META Meta Platforms Inc. Class A | 0.45% | 15,861 | $11.6M | Add +1.1% |
| AMD Advanced Micro Devices | 0.45% | 71,260 | $11.5M | Add +1.7% |
| AVGO Broadcom Inc. | 0.43% | 33,252 | $11.0M | Add +2.1% |
| BX Blackstone Inc. | 0.43% | 64,041 | $10.9M | Add +2.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.42% | 74,424 | $10.8M | Add +3.5% |
| ABT Abbott Laboratories | 0.41% | 77,565 | $10.4M | Add +3.5% |
| MA Mastercard Inc. Class A | 0.36% | 16,017 | $9.1M | Add +3.3% |
| SYK Stryker Corp. | 0.35% | 24,112 | $8.9M | Add +10.9% |
| VMC Vulcan Materials Co. | 0.33% | 27,865 | $8.6M | Reduce -0.5% |
| SHW The Sherwin-Williams Co. | 0.32% | 24,014 | $8.3M | Add +4.9% |
| PANW Palo Alto Networks Inc. | 0.31% | 38,906 | $7.9M | New |
| AFL Aflac Inc. | 0.29% | 65,434 | $7.3M | Reduce -16.6% |
| CARR Carrier Global Corp. | 0.27% | 117,455 | $7.0M | Add +7.5% |
| GL Globe Life Inc. | 0.26% | 47,333 | $6.8M | Reduce -0.5% |
| ACN Accenture PLC Class A | 0.26% | 27,364 | $6.7M | Add +17.4% |
| AXP American Express Co. | 0.24% | 18,866 | $6.3M | Add +0.2% |
| TGT Target Corp. | 0.24% | 69,410 | $6.2M | Add +12.6% |
| LLY Eli Lilly & Co. | 0.22% | 7,514 | $5.7M | Add +15.4% |
| VOO Vanguard S&P 500 ETF | 0.21% | 8,721 | $5.3M | Reduce -5.8% |
| WMT Walmart Inc. | 0.20% | 50,486 | $5.2M | Add +5.2% |
| RF Regions Financial Corp. | 0.16% | 151,408 | $4.0M | Add +10.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.15% | 5,592 | $3.7M | Add +10.7% |
| PM Philip Morris International | 0.14% | 21,716 | $3.5M | Add +0.3% |
| SNV Synovus Financial Corp. | 0.13% | 67,623 | $3.3M | Reduce -0.1% |
| VGSH Vanguard Short-Term Treasury | 0.12% | 54,347 | $3.2M | Add +45.0% |
| SHY iShares 1-3 Year Treasury Bo | 0.12% | 38,549 | $3.2M | Add +11.6% |
| GOOG Alphabet Inc. Class C | 0.12% | 12,837 | $3.1M | Reduce -0.8% |
| QQQ Invesco QQQ Trust Series 1 | 0.12% | 5,088 | $3.1M | Add +5.2% |
| GLD SPDR Gold Shares | 0.12% | 8,368 | $3.0M | Add +5.3% |
| MRK Merck & Co. Inc. | 0.11% | 34,242 | $2.9M | Add +2.9% |
| MO Altria Group Inc. | 0.11% | 41,161 | $2.7M | Reduce -2.7% |
| T AT&T Inc. | 0.10% | 93,820 | $2.6M | Add +10.2% |
| MLI Mueller Industries Inc. | 0.09% | 22,000 | $2.2M | No change |
| CR Crane Co. | 0.08% | 11,000 | $2.0M | No change |
| WFC Wells Fargo & Co. | 0.08% | 23,405 | $2.0M | Add +4.2% |
| GPC Genuine Parts Co. | 0.07% | 13,858 | $1.9M | Add +6.5% |
| WELL Welltower Inc. | 0.07% | 10,703 | $1.9M | No change |
| RSG Republic Services Inc. | 0.07% | 8,123 | $1.9M | No change |
| MOD Modine Manufacturing Co. | 0.07% | 13,000 | $1.8M | No change |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.07% | 16,936 | $1.8M | No change |
| AON Aon PLC Class A | 0.07% | 5,130 | $1.8M | No change |
| WM Waste Management Inc. | 0.07% | 8,281 | $1.8M | Add +22.0% |
| NOC Northrop Grumman Corp. | 0.07% | 2,911 | $1.8M | Add +1.4% |
| GGG Graco Inc. | 0.07% | 20,653 | $1.8M | No change |
| COST Costco Wholesale Corp. | 0.07% | 1,808 | $1.7M | Add +3.0% |
| HON Honeywell International Inc. | 0.06% | 7,716 | $1.6M | Add +4.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.06% | 31,022 | $1.6M | Add +8.1% |
| DUK Duke Energy Corp. | 0.06% | 12,821 | $1.6M | Add +3.4% |
| WTS Watts Water Technologies-A | 0.06% | 5,400 | $1.5M | No change |
| BBVA Banco Bilbao Vizcaya-SP ADR | 0.06% | 76,785 | $1.5M | Add +21.0% |
| ORLY O'reilly Automotive Inc. | 0.06% | 13,240 | $1.4M | Reduce -1.5% |
| GATX Gatx Corp. | 0.05% | 7,512 | $1.3M | No change |
| TXT Textron Inc. | 0.05% | 15,400 | $1.3M | No change |
| VONE Vanguard Russell 1000 | 0.05% | 4,237 | $1.3M | No change |
| TSLA Tesla Inc. | 0.05% | 2,871 | $1.3M | Add +0.1% |
| BLK BlackRock Inc. | 0.05% | 1,073 | $1.3M | Add +41.2% |
| MDLZ Mondelez International Inc. Class A | 0.05% | 19,587 | $1.2M | Add +3.7% |
| NVS Novartis AG-Sponsored ADR | 0.05% | 9,466 | $1.2M | No change |
| GLDM SPDR Gold Minishares Trust | 0.05% | 15,311 | $1.2M | New |
Options reported separately and not counted above: V puts ($683K).
Portfolio Sells Q2 2025 → Q3 2025
| EMR Emerson Electric Co. | Reduce -0.1% | 2.47% | −0.22 |
| PEP Pepsico Inc. | Reduce -9.3% | 1.81% | −0.20 |
| AFL Aflac Inc. | Reduce -16.6% | 0.29% | −0.06 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -48.4% | 0.04% | −0.05 |
| SNV Synovus Financial Corp. | Reduce -0.1% | 0.13% | −0.02 |
| SCHD Schwab US DVD Equity ETF | Sold out | 0.00% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -5.8% | 0.21% | −0.01 |
| WLDN Willdan Group Inc. | Sold out | 0.00% | −0.01 |
| SJM The JM Smucker Co. | Sold out | 0.00% | −0.01 |
| SSBK Southern States Bancshares | Sold out | 0.00% | −0.01 |
| NFLX Netflix Inc. | Reduce -0.4% | 0.04% | −0.01 |
| HRI Herc Holdings Inc. | Reduce -6.0% | 0.03% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -20.4% | 0.03% | −0.01 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Reduce -21.2% | 0.02% | −0.01 |
| AEM Agnico Eagle Mines Ltd. | Reduce -44.4% | 0.01% | −0.00 |
| UL Unilever PLC | Reduce -4.5% | 0.02% | −0.00 |
| ET Energy Transfer LP | Reduce -3.3% | 0.02% | −0.00 |
| DEO Diageo PLC-Sponsored ADR | Reduce -1.5% | 0.02% | −0.00 |
| EPD Enterprise Products Partners | Reduce -7.4% | 0.01% | −0.00 |
| CAH Cardinal Health Inc. | Reduce -2.7% | 0.01% | −0.00 |
| EAF Graftech International Ltd. | Sold out | 0.00% | −0.00 |
| K Kellanova | Reduce -5.1% | 0.02% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Reduce -13.0% | 0.01% | −0.00 |
| YUM Yum! Brands Inc. | Reduce -0.0% | 0.03% | −0.00 |
| IR Ingersoll-Rand Inc. | Reduce -6.6% | 0.01% | −0.00 |
| POST Post Holdings Inc. | Reduce -0.1% | 0.01% | −0.00 |
| UTG Reaves Utility Income Fund | Reduce -5.7% | 0.03% | −0.00 |
| KHC The Kraft Heinz Co. | Reduce -0.8% | 0.02% | −0.00 |
| NUE Nucor Corp. | Reduce -5.3% | 0.01% | −0.00 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -11.8% | 0.01% | −0.00 |
| MPT Medical Properties Trust Inc. | Reduce -17.4% | 0.01% | −0.00 |
| LOW Lowe's Cos Inc. | Reduce -11.8% | 0.01% | −0.00 |
| BPPTU BP Prudhoe Bay Royalty Trust | Sold out | 0.00% | −0.00 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Reduce -2.4% | 0.02% | −0.00 |
| ABEV Ambev SA-ADR | Reduce -0.3% | 0.00% | −0.00 |
| SLB SLB Ltd. | Reduce -0.3% | 0.01% | −0.00 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Reduce -1.1% | 0.01% | −0.00 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -3.9% | 0.02% | −0.00 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -1.8% | 0.01% | −0.00 |
| FBIN Fortune Brands Innovations I | Reduce -0.1% | 0.01% | −0.00 |
| AEE Ameren Corporation | Reduce -2.1% | 0.01% | −0.00 |
| MSGS Madison Square Garden Sports | Reduce -0.0% | 0.02% | +0.00 |
| ROST Ross Stores Inc. | Reduce -0.1% | 0.01% | +0.00 |
| HAL Halliburton Co. | Reduce -0.1% | 0.01% | +0.00 |
| TGNA Tegna Inc. | Reduce -0.1% | 0.01% | +0.00 |
| GDX Vaneck Gold Miners ETF | Reduce -7.9% | 0.01% | +0.00 |
| MO Altria Group Inc. | Reduce -2.7% | 0.11% | +0.00 |
| ORLY O'reilly Automotive Inc. | Reduce -1.5% | 0.06% | +0.01 |
| URI United Rentals Inc. | Reduce -2.2% | 0.04% | +0.01 |
| SLV iShares Silver Trust | Reduce -3.1% | 0.04% | +0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +0.8% | 3.76% | +0.54 |
| ABBV Abbvie Inc. | Add +0.9% | 3.35% | +0.50 |
| JNJ Johnson & Johnson | Add +1.2% | 2.78% | +0.36 |
| PANW Palo Alto Networks Inc. | New | 0.31% | +0.31 |
| GOOGL Alphabet Inc. Class A | Add +0.7% | 0.61% | +0.14 |
| ORCL Oracle Corp. | Add +2.3% | 0.74% | +0.14 |
| HD Home Depot Inc. | Add +1.2% | 2.83% | +0.12 |
| CAT Caterpillar Inc. | Add +2.7% | 0.76% | +0.12 |
| NEE Nextera Energy Inc. | Add +2.4% | 2.57% | +0.10 |
| LMT Lockheed Martin Corp. | Add +3.0% | 2.55% | +0.09 |
| CVX Chevron Corp. | Add +1.8% | 2.59% | +0.08 |
| AVGO Broadcom Inc. | Add +2.1% | 0.43% | +0.05 |
| TJX TJX Companies Inc. | Add +3.5% | 0.42% | +0.05 |
| GLDM SPDR Gold Minishares Trust | New | 0.05% | +0.05 |
| PFE Pfizer Inc. | Add +4.1% | 1.98% | +0.04 |
| VXUS Vanguard Total Intl Stock | New | 0.04% | +0.04 |
| BX Blackstone Inc. | Add +2.2% | 0.43% | +0.04 |
| AMD Advanced Micro Devices | Add +1.7% | 0.45% | +0.03 |
| VGSH Vanguard Short-Term Treasury | Add +45.0% | 0.12% | +0.03 |
| GS Goldman Sachs Group Inc. | Add +0.6% | 0.51% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +285.5% | 0.04% | +0.03 |
| VEA Vanguard Ftse Developed ETF | New | 0.02% | +0.02 |
| TMO Thermo Fisher Scientific Inc. | New | 0.02% | +0.02 |
| RF Regions Financial Corp. | Add +10.1% | 0.16% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +3.5% | 0.48% | +0.02 |
| IEI iShares 3-7 Year Treasury Bo | New | 0.02% | +0.02 |
| NSC Norfolk Southern Corp. | Add +74.7% | 0.04% | +0.02 |
| BBVA Banco Bilbao Vizcaya-SP ADR | Add +21.0% | 0.06% | +0.02 |
| TRV The Travelers Cos Inc. | New | 0.02% | +0.02 |
| BLK BlackRock Inc. | Add +41.2% | 0.05% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +10.7% | 0.15% | +0.01 |
| GLD SPDR Gold Shares | Add +5.3% | 0.12% | +0.01 |
| IVW iShares S&P 500 Growth ETF | Add +57.4% | 0.04% | +0.01 |
| FBK FB Financial Corp. | New | 0.01% | +0.01 |
| DNP DNP Select Income Fund Inc. | New | 0.01% | +0.01 |
| LLY Eli Lilly & Co. | Add +15.4% | 0.22% | +0.01 |
| TSLA Tesla Inc. | Add +0.1% | 0.05% | +0.01 |
| IBIT iShares Bitcoin Trust ETF | New | 0.01% | +0.01 |
| IJS iShares S&P Small-Cap 600 Va | New | 0.01% | +0.01 |
| LIN Linde PLC | New | 0.01% | +0.01 |
| LNT Alliant Energy Corp. | New | 0.01% | +0.01 |
| NEM Newmont Corp. | Add +1.3% | 0.04% | +0.01 |
| PLTR Palantir Technologies Inc. Class A | Add +12.1% | 0.04% | +0.01 |
| LRCX Lam Research Corp. | New | 0.01% | +0.01 |
| BABA Alibaba Group Holding-SP ADR | New | 0.01% | +0.01 |
| USB US Bancorp | New | 0.01% | +0.01 |
| NOC Northrop Grumman Corp. | Add +1.4% | 0.07% | +0.01 |
| GPC Genuine Parts Co. | Add +6.5% | 0.07% | +0.01 |
| ITW Illinois Tool Works | New | 0.01% | +0.01 |
| TLN Talen Energy Corp. | New | 0.01% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| AP.WS Ampco-Pittsburgh Corp. -CW25 | *W EXP 08/01/202 | Sold out | 12,000 | $228before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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 |