Welch & Forbes LLC — 13F Holdings & Portfolio
CIK 105495 · latest 13F-HR filed 2026-07-30
Welch & Forbes LLC manages $8.23B in 13F-reported U.S. long-equity assets across 388 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NVDA (7.40%), AAPL (5.85%), GOOG (4.95%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 30 new positions and exited 10; 194 existing positions rose in reported value and 95 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$8.23B
Long-equity book
Holdings
388
Distinct positions
Period
2026-06-30
Filed 2026-07-30
Q/Q Activity
+30 / −10 / ↑194 / ↓95
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26NVDA7.4% · -2%AAPL5.8% · -1%GOOG5.0% · -2%MSFT4.0% · +1%ORLY3.1% · -1%V2.9% · -2%JPM2.6% · -1%LLY2.5% · +3%RTX2.5% · -2%JNJ2.0% · +0%SYK2.0% · +2%COST1.8% · +1%HD1.8% · -0%GOOGL1.7% · -2%AMZN1.7% · +2%CB1.6% · -0%ECL1.6% · -0%TJX1.4% · -0%DHR1.4% · -2%PG1.3% · -1%PANW1.3% · +7%VRTX1.3% · +1%MDY1.2% · -12%AVGO1.2% · +9%IDXX1.1% · -0%WSO1.1% · -0%ABBV1.1% · +1%META1.0% · +11%MCD1.0% · -2%IRM1.0% · -2%AMP1.0% · -1%CSCO0.9% · -1%MTD0.9% · -3%VEA0.8% · -2%AJG0.8% · -1%CVX0.8% · -0%RMD0.8% · -1%NEE0.7% · +3%WMT0.7% · +1%BRK.B0.7% · -2%LECO0.7% · -0%BAC0.7% · -2%PEP0.7% · -3%LIN0.7% · -1%ABT0.7% · -6%CSL0.6% · +2%ADP0.6% · -0%ROP0.6% · -22%BKNG0.6% · +2320%XYL0.6% · -4%TMO0.5% · -6%EMLP0.5% · -6%MRK0.5% · -0%LHX0.5% · +1%XOM0.5% · +1%AFL0.4% · -1%PAYX0.4% · +0%CHD0.4% · -6%AOS0.4% · -8%SPY0.4% · -5%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
3 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 37.9%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated May 19, 2026.
Assets Under Management
$9.90B
Discretionary
$9.66B
Employees
55
Accounts
3,734
Address
45 SCHOOL STREET
BOSTON, MA 02108
BOSTON, MA 02108
Phone
(617) 523-1635
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| AMG WF HOLDINGS LLC Control | MANAGER MEMBER since Dec 2010 | 75% or more | Domestic Entity |
| OBER, THEODORE, EDWARD Control | EXECUTIVE VICE PRESIDENT since Feb 2016 | Less than 5% | Individual |
| SILBERMANN, ADRIENNE, G. Control | EXECUTIVE VICE PRESIDENT since Jan 2005 | Less than 5% | Individual |
| WALTER, KURT, HENRY Control | EXECUTIVE VICE PRESIDENT & TREASURER since May 2013 | Less than 5% | Individual |
| WILLIAMS, BENJAMIN, JACKSON Control | EXECUTIVE VICE PRESIDENT since Jan 2005 | Less than 5% | Individual |
| JUNDI, TODD, R | SENIOR VICE PRESIDENT & CHIEF COMPLIANCE OFFICER since Jul 2015 | Less than 5% | Individual |
| AFFILIATED MANAGERS GROUP, INC. Control Indirect owner via AMG WP LP HOLDINGS, LLC | SERIES A MEMBER AND MANAGER since Mar 2011 | 75% or more | Domestic Entity |
| AFFILIATED MANAGERS GROUP, INC. Control Indirect owner via AMG WP GP HOLDINGS CORP | SOLE SHAREHOLDER since Dec 2011 | 75% or more | Domestic Entity |
| AMG WEALTH PARTNERS, LP Control Indirect owner via AMG WF HOLDINGS, LLC | MANAGER AND SOLE MEMBER since Jul 2012 | 75% or more | Domestic Entity |
| AMG WP GP HOLDINGS CORP Control Indirect owner via AMG WEALTH PARTNERS, LP | GENERAL PARTNER since Sep 2012 | General partner, trustee or manager | Domestic Entity |
| AMG WP LP HOLDINGS, LLC Control Indirect owner via AMG WEALTH PARTNERS, LP | LIMITED PARTNER since Jun 2011 | 75% or more | Domestic Entity |
Ownership & leadership changes · 8 filings with changes since Mar 29, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 15, 2021 filing
- No longer listedSPALDING, OLIVER, AMES · EXECUTIVE VICE PRESIDENT · Less than 5% · control person · listed since Feb 2016
Mar 22, 2019 filing
- AddedAFFILIATED MANAGERS GROUP, INC. · SOLE SHAREHOLDER · 75% or more · indirect via AMG WP GP HOLDINGS CORP · control person
- AddedAMG WP GP HOLDINGS CORP · GENERAL PARTNER · General partner, trustee or manager · indirect via AMG WEALTH PARTNERS, LP · control person
- ChangedAMG WF HOLDINGS LLC · now a control person
Mar 15, 2018 filing
- ChangedAMG WF HOLDINGS LLC · ownership 50–75% → 75% or more
- ChangedSPALDING, OLIVER, AMES · now a control person
- ChangedWALTER, KURT, HENRY · now a control person
Mar 31, 2017 filing
- No longer listedEMMONS, JOHN, HUGHES · PRESIDENT · Less than 5% · control person · listed since Oct 2010
- No longer listedHAYDOCK, CHARLES, THORNDIKE · EXECUTIVE VICE PRESIDENT & CHIEF INVESTMENT OFFICER · Less than 5% · control person · listed since Oct 2010
- ChangedSILBERMANN, ADRIENNE, G. · title EXECUTIVE VICE PRESIDENT & COMPLIANCE OFFICER → EXECUTIVE VICE PRESIDENT
- ChangedSPALDING, OLIVER, AMES · title EXECUTIVE VICE PRESIDENT AND COMPLIANCE OFFICER → EXECUTIVE VICE PRESIDENT
Mar 28, 2016 filing
- No longer listedBROWN, PETER, P. · SENIOR VICE PRESIDENT AND COMPLIANCE OFFICER · Less than 5% · listed since Nov 2001
- AddedOBER, THEODORE, EDWARD · EXECUTIVE VICE PRESIDENT · Less than 5% · control person
- ChangedAMG WF HOLDINGS LLC · ownership 75% or more → 50–75%
- ChangedJUNDI, TODD, R · title VICE PRESIDENT & CHIEF COMPLIANCE OFFICER → SENIOR VICE PRESIDENT & CHIEF COMPLIANCE OFFICER
- ChangedSPALDING, OLIVER, AMES · title SENIOR VICE PRESIDENT AND COMPLIANCE OFFICER → EXECUTIVE VICE PRESIDENT AND COMPLIANCE OFFICER
- ChangedWALTER, KURT, HENRY · title SENIOR VICE PRESIDENT & TREASURER → EXECUTIVE VICE PRESIDENT & TREASURER
Mar 30, 2015 filing
- No longer listedAFFILIATED MANAGERS GROUP INC. · STOCKHOLDER OF MANAGING MEMBER · 75% or more · indirect via WELCH & FORBES INC · control person · listed since Nov 2001
- ChangedAFFILIATED MANAGERS GROUP, INC. · indirect via AMG WP LP HOLDINGS, LLC: title SERIES A MEMBER AND AUTHORIZED PERSON → SERIES A MEMBER AND MANAGER
Mar 27, 2014 filing
- No longer listedAFFILIATED MANAGERS GROUP INC. · SOLE MEMBER · 75% or more · indirect via AMG WF HOLDINGS LLC · control person · listed since Dec 2010
- ChangedAMG WF HOLDINGS LLC · title MANAGING MEMBER → MANAGER MEMBER; ownership 50–75% → 75% or more
Mar 27, 2013 filing
- No longer listedWELCH & FORBES INC · MANAGING MEMBER · Less than 5% · control person · listed since Jul 2001
- AddedAFFILIATED MANAGERS GROUP, INC. · SERIES A MEMBER AND AUTHORIZED PERSON · 75% or more · indirect via AMG WP LP HOLDINGS, LLC · control person
- AddedAMG WEALTH PARTNERS, LP · MANAGER AND SOLE MEMBER · 75% or more · indirect via AMG WF HOLDINGS, LLC · control person
- AddedAMG WP LP HOLDINGS, LLC · LIMITED PARTNER · 75% or more · indirect via AMG WEALTH PARTNERS, LP · control person
- ChangedAMG WF HOLDINGS LLC · title MEMBER → MANAGING MEMBER; no longer a control person
Mar 29, 2012 filing (earliest on record)
- ListedAFFILIATED MANAGERS GROUP INC. · STOCKHOLDER OF MANAGING MEMBER · 75% or more · indirect via WELCH & FORBES INC · control person
- ListedAFFILIATED MANAGERS GROUP INC. · SOLE MEMBER · 75% or more · indirect via AMG WF HOLDINGS LLC · control person
- ListedAMG WF HOLDINGS LLC · MEMBER · 50–75% · control person
- ListedBROWN, PETER, P. · SENIOR VICE PRESIDENT AND COMPLIANCE OFFICER · Less than 5%
- ListedEMMONS, JOHN, HUGHES · PRESIDENT · Less than 5% · control person
- ListedHAYDOCK, CHARLES, THORNDIKE · EXECUTIVE VICE PRESIDENT & CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ListedJUNDI, TODD, R · VICE PRESIDENT & CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedSILBERMANN, ADRIENNE, G. · EXECUTIVE VICE PRESIDENT & COMPLIANCE OFFICER · Less than 5% · control person
- ListedSPALDING, OLIVER, AMES · SENIOR VICE PRESIDENT AND COMPLIANCE OFFICER · Less than 5%
- ListedWALTER, KURT, HENRY · SENIOR VICE PRESIDENT & TREASURER · Less than 5%
- ListedWELCH & FORBES INC · MANAGING MEMBER · Less than 5% · control person
- ListedWILLIAMS, BENJAMIN, JACKSON · EXECUTIVE VICE PRESIDENT · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ALPHABET INC$71.2M +21.2%
- NVIDIA CORPORATION$68.5M +12.7%
- PALO ALTO NETWORKS INC$61.8M +128.2%
- APPLE INC$54.8M +12.9%
- ELI LILLY & CO$52.4M +33.9%
Top Trims
- CHEVRON CORPORATION-$16.8M -20.3%
- ROPER TECHNOLOGIES INC-$16.2M -25.4%
- ACCENTURE PLC IRELAND-$13.9M -83.5%
- MCDONALDS CORP-$13.7M -14.5%
- FISERV INC-$13.1M -46.5%
New Positions
- HONEYWELL AEROSPACE INC$1.1M
- HONEYWELL INTL INC$1.0M
- SANDISK CORP$552.5K
- TRANE TECHNOLOGIES PLC$507.9K
- ISHARES TR$417.8K
Exited Positions
- HONEYWELL INTL INC$2.2M
- DUPONT DE NEMOURS INC$327.0K
- BHP BILLITON LIMITED$263.2K
- TEXTRON INC$252.2K
- DOW HLDGS INC$243.2K
Welch & Forbes LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 67066G104 | $608.5M | 7.40% | 3,041,196 | SH |
| 2 | APPLE INC | AAPL | 037833100 | $481.2M | 5.85% | 1,662,845 | SH |
| 3 | ALPHABET INC | GOOG | 02079K107 | $407.5M | 4.95% | 1,153,229 | SH |
| 4 | MICROSOFT CORP | MSFT | 594918104 | $331.0M | 4.02% | 887,243 | SH |
| 5 | OREILLY AUTOMOTIVE INC | ORLY | 67103H107 | $258.7M | 3.14% | 2,809,432 | SH |
| 6 | VISA INC | V | 92826C839 | $241.9M | 2.94% | 705,106 | SH |
| 7 | JPMORGAN CHASE & CO | JPM | 46625H100 | $211.3M | 2.57% | 645,494 | SH |
| 8 | ELI LILLY & CO | LLY | 532457108 | $207.1M | 2.52% | 172,704 | SH |
| 9 | RTX CORPORATION | RTX | 75513E101 | $203.0M | 2.47% | 1,069,878 | SH |
| 10 | JOHNSON & JOHNSON | JNJ | 478160104 | $167.1M | 2.03% | 657,989 | SH |
| 11 | STRYKER CORPORATION | SYK | 863667101 | $163.6M | 1.99% | 519,496 | SH |
| 12 | COSTCO WHOLESALE CORPORATION | COST | 22160K105 | $151.8M | 1.84% | 162,277 | SH |
| 13 | HOME DEPOT INC | HD | 437076102 | $151.1M | 1.84% | 428,508 | SH |
| 14 | ALPHABET INC | GOOGL | 02079K305 | $143.6M | 1.74% | 401,718 | SH |
| 15 | AMAZON COM INC | AMZN | 023135106 | $138.2M | 1.68% | 579,893 | SH |
| 16 | CHUBB LIMITED | CB | H1467J104 | $131.1M | 1.59% | 384,803 | SH |
| 17 | ECOLAB INC | ECL | 278865100 | $130.6M | 1.59% | 468,722 | SH |
| 18 | TJX COS INC NEW | TJX | 872540109 | $116.3M | 1.41% | 767,963 | SH |
| 19 | DANAHER CORP DEL | DHR | 235851102 | $114.0M | 1.39% | 598,324 | SH |
| 20 | PROCTER & GAMBLE CO | PG | 742718109 | $110.7M | 1.34% | 754,625 | SH |
| 21 | PALO ALTO NETWORKS INC | PANW | 697435105 | $109.9M | 1.34% | 322,392 | SH |
| 22 | VERTEX PHARMACEUTICALS INC | VRTX | 92532F100 | $109.9M | 1.34% | 221,304 | SH |
| 23 | STATE STR SPDR S&P MIDCAP 40 | MDY | 78467Y107 | $100.0M | 1.22% | 142,173 | SH |
| 24 | BROADCOM INC | AVGO | 11135F101 | $99.4M | 1.21% | 263,007 | SH |
| 25 | IDEXX LABS INC | IDXX | 45168D104 | $88.3M | 1.07% | 167,666 | SH |
| 26 | WATSCO INC | WSO | 942622200 | $87.2M | 1.06% | 209,280 | SH |
| 27 | ABBVIE INC | ABBV | 00287Y109 | $87.1M | 1.06% | 345,978 | SH |
| 28 | META PLATFORMS INC | META | 30303M102 | $83.8M | 1.02% | 148,710 | SH |
| 29 | MCDONALDS CORP | MCD | 580135101 | $80.8M | 0.98% | 298,932 | SH |
| 30 | IRON MTN INC DEL | IRM | 46284V101 | $80.8M | 0.98% | 639,322 | SH |
| 31 | AMERIPRISE FINL INC | AMP | 03076C106 | $78.5M | 0.95% | 171,132 | SH |
| 32 | CISCO SYS INC | CSCO | 17275R102 | $73.9M | 0.90% | 629,560 | SH |
| 33 | METTLER TOLEDO INTERNATIONAL | MTD | 592688105 | $72.9M | 0.89% | 57,090 | SH |
| 34 | VANGUARD TAX-MANAGED FDS | VEA | 921943858 | $67.7M | 0.82% | 950,233 | SH |
| 35 | GALLAGHER ARTHUR J & CO | AJG | 363576109 | $66.5M | 0.81% | 289,883 | SH |
| 36 | CHEVRON CORPORATION | CVX | 166764100 | $66.1M | 0.80% | 398,635 | SH |
| 37 | RESMED INC | RMD | 761152107 | $62.8M | 0.76% | 322,033 | SH |
| 38 | NEXTERA ENERGY INC | NEE | 65339F101 | $61.2M | 0.74% | 696,876 | SH |
| 39 | WALMART INC | WMT | 931142103 | $59.6M | 0.72% | 526,233 | SH |
| 40 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $57.9M | 0.70% | 115,656 | SH |
| 41 | LINCOLN ELEC HLDGS INC | LECO | 533900106 | $55.5M | 0.67% | 208,918 | SH |
| 42 | BANK OF AMER CORP | BAC | 060505104 | $54.5M | 0.66% | 957,307 | SH |
| 43 | PEPSICO INC | PEP | 713448108 | $54.5M | 0.66% | 402,525 | SH |
| 44 | LINDE PLC | LIN | G54950103 | $54.0M | 0.66% | 104,115 | SH |
| 45 | ABBOTT LABORATORIES | ABT | 002824100 | $54.0M | 0.66% | 595,129 | SH |
| 46 | CARLISLE COS INC | CSL | 142339100 | $51.8M | 0.63% | 142,765 | SH |
| 47 | AUTOMATIC DATA PROCESSING IN | ADP | 053015103 | $50.0M | 0.61% | 223,090 | SH |
| 48 | ROPER TECHNOLOGIES INC | ROP | 776696106 | $47.5M | 0.58% | 140,495 | SH |
| 49 | BOOKING HOLDINGS INC | BKNG | 09857L108 | $46.9M | 0.57% | 263,055 | SH |
| 50 | XYLEM INC | XYL | 98419M100 | $46.8M | 0.57% | 395,967 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-07-30 | $8.23B | 388 | 0000105495-26-000003 |
| 2026-03-31 | 2026-05-01 | $7.73B | 368 | 0000105495-26-000002 |
| 2025-12-31 | 2026-02-10 | $8.25B | 374 | 0000105495-26-000001 |
Filer Information
Address
45 SCHOOL STREETBOSTON, MA 02108
Phone
(617) 523-1635
Filing Manager
Welch & Forbes LLC
Boston, MA
Signatory
Todd Jundi
Chief Compliance Officer