WELCH & FORBES LLC

PrivateCIK: 105495

Location

BOSTON, MA

368

Positions

$7.73B

Total AUM (reported)

45.32M

Total Shares

Allocation by class

COM$6.26B80.9%

CAP STK CL C$336.30M4.3%

COM CL A$217.74M2.8%

CAP STK CL A$117.74M1.5%

UTSER1 S&PDCRP$99.64M1.3%

CL A$97.63M1.3%

VAN FTSE DEV MKT$62.18M0.8%

Portfolio Concentration

Top 3$1.30B16.8%

4–10$1.54B19.9%

11–25$1.76B22.8%

Rest$3.13B40.5%

Top 3 weight

16.8%

Top 10 weight

36.7%

Voting Authority Distribution

Total shares with voting rights: 45.32M

Sole

Full voting authority

36.16M

% of voting shares79.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

9.17M

% of voting shares20.2%

Investment Discretion (by position count)

Sole368

Shared0

Other0

Dominant voting typeSole · 79.8% of voting shares

Institutional Holdings368

Rows:

NVIDIA CORPORATION

SOLE

COM

Shares3.10M

TypeSH

Market value$540.01M

6.98%

Sole

2.57M

Shared

0.00

None

523.86K

APPLE INC

SOLE

COM

Shares1.68M

TypeSH

Market value$426.34M

5.51%

Sole

1.38M

Shared

0.00

None

300.48K

ALPHABET INC

SOLE

CAP STK CL C

Shares1.17M

TypeSH

Market value$336.30M

4.35%

Sole

938.72K

Shared

0.00

None

233.64K

MICROSOFT CORP

SOLE

COM

Shares881.58K

TypeSH

Market value$326.34M

4.22%

Sole

720.80K

Shared

0.00

None

160.78K

OREILLY AUTOMOTIVE INC

SOLE

COM

Shares2.83M

TypeSH

Market value$261.44M

3.38%

Sole

2.41M

Shared

0.00

None

420.50K

VISA INC

SOLE

COM CL A

Shares719.55K

TypeSH

Market value$217.48M

2.81%

Sole

601.65K

Shared

0.00

None

117.90K

RTX CORPORATION

SOLE

COM

Shares1.09M

TypeSH

Market value$211.15M

2.73%

Sole

883K

Shared

0.00

None

211.59K

JPMORGAN CHASE & CO

SOLE

COM

Shares652.91K

TypeSH

Market value$192.06M

2.48%

Sole

528.60K

Shared

0.00

None

124.31K

STRYKER CORPORATION

SOLE

COM

Shares509.06K

TypeSH

Market value$167.27M

2.16%

Sole

425.25K

Shared

0.00

None

83.80K

COSTCO WHOLESALE CORPORATION

SOLE

COM

Shares161.37K

TypeSH

Market value$160.79M

2.08%

Sole

150.34K

Shared

0.00

None

11.03K

JOHNSON & JOHNSON

SOLE

COM

Shares657.53K

TypeSH

Market value$160.73M

2.08%

Sole

528.27K

Shared

0.00

None

129.25K

ELI LILLY & CO

SOLE

COM

Shares168.24K

TypeSH

Market value$154.74M

2.00%

Sole

144.01K

Shared

0.00

None

24.22K

HOME DEPOT INC

SOLE

COM

Shares428.69K

TypeSH

Market value$140.99M

1.82%

Sole

349.81K

Shared

0.00

None

78.88K

CHUBB LTD SWITZ

SOLE

COM

Shares386.76K

TypeSH

Market value$126.06M

1.63%

Sole

299.06K

Shared

0.00

None

87.70K

ECOLAB INC

SOLE

COM

Shares470.44K

TypeSH

Market value$125.15M

1.62%

Sole

375.32K

Shared

0.00

None

95.12K

TJX COS INC NEW

SOLE

COM

Shares771.98K

TypeSH

Market value$123.28M

1.59%

Sole

720.35K

Shared

0.00

None

51.62K

AMAZON COM INC

SOLE

COM

Shares567.97K

TypeSH

Market value$118.29M

1.53%

Sole

384.54K

Shared

0.00

None

183.43K

ALPHABET INC

SOLE

CAP STK CL A

Shares409.44K

TypeSH

Market value$117.74M

1.52%

Sole

366.26K

Shared

0.00

None

43.19K

DANAHER CORP DEL

SOLE

COM

Shares612.66K

TypeSH

Market value$116.16M

1.50%

Sole

572.56K

Shared

0.00

None

40.10K

PROCTER & GAMBLE CO

SOLE

COM

Shares763.85K

TypeSH

Market value$110.33M

1.43%

Sole

632.55K

Shared

0.00

None

131.30K

STATE STR SPDR S&P MIDCAP 40

SOLE

UTSER1 S&PDCRP

Shares161.55K

TypeSH

Market value$99.64M

1.29%

Sole

103.22K

Shared

0.00

None

58.33K

VERTEX PHARMACEUTICALS INC

SOLE

COM

Shares219.67K

TypeSH

Market value$98.09M

1.27%

Sole

177.47K

Shared

0.00

None

42.20K

IDEXX LABS INC

SOLE

COM

Shares168.18K

TypeSH

Market value$94.50M

1.22%

Sole

165.03K

Shared

0.00

None

3.15K

MCDONALDS CORP

SOLE

COM

Shares303.99K

TypeSH

Market value$94.48M

1.22%

Sole

228.91K

Shared

0.00

None

75.08K

CHEVRON CORPORATION

SOLE

COM

Shares400.54K

TypeSH

Market value$82.87M

1.07%

Sole

209.84K

Shared

0.00

None

190.70K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NVIDIA CORPORATIONSOLE	COM	3.10M	SH	$540.01M 6.98%	2.57M	523.86K
APPLE INCSOLE	COM	1.68M	SH	$426.34M 5.51%	1.38M	300.48K
ALPHABET INCSOLE	CAP STK CL C	1.17M	SH	$336.30M 4.35%	938.72K	233.64K
MICROSOFT CORPSOLE	COM	881.58K	SH	$326.34M 4.22%	720.80K	160.78K
OREILLY AUTOMOTIVE INCSOLE	COM	2.83M	SH	$261.44M 3.38%	2.41M	420.50K
VISA INCSOLE	COM CL A	719.55K	SH	$217.48M 2.81%	601.65K	117.90K
RTX CORPORATIONSOLE	COM	1.09M	SH	$211.15M 2.73%	883K	211.59K
JPMORGAN CHASE & COSOLE	COM	652.91K	SH	$192.06M 2.48%	528.60K	124.31K
STRYKER CORPORATIONSOLE	COM	509.06K	SH	$167.27M 2.16%	425.25K	83.80K
COSTCO WHOLESALE CORPORATIONSOLE	COM	161.37K	SH	$160.79M 2.08%	150.34K	11.03K
JOHNSON & JOHNSONSOLE	COM	657.53K	SH	$160.73M 2.08%	528.27K	129.25K
ELI LILLY & COSOLE	COM	168.24K	SH	$154.74M 2.00%	144.01K	24.22K
HOME DEPOT INCSOLE	COM	428.69K	SH	$140.99M 1.82%	349.81K	78.88K
CHUBB LTD SWITZSOLE	COM	386.76K	SH	$126.06M 1.63%	299.06K	87.70K
ECOLAB INCSOLE	COM	470.44K	SH	$125.15M 1.62%	375.32K	95.12K
TJX COS INC NEWSOLE	COM	771.98K	SH	$123.28M 1.59%	720.35K	51.62K
AMAZON COM INCSOLE	COM	567.97K	SH	$118.29M 1.53%	384.54K	183.43K
ALPHABET INCSOLE	CAP STK CL A	409.44K	SH	$117.74M 1.52%	366.26K	43.19K
DANAHER CORP DELSOLE	COM	612.66K	SH	$116.16M 1.50%	572.56K	40.10K
PROCTER & GAMBLE COSOLE	COM	763.85K	SH	$110.33M 1.43%	632.55K	131.30K
STATE STR SPDR S&P MIDCAP 40SOLE	UTSER1 S&PDCRP	161.55K	SH	$99.64M 1.29%	103.22K	58.33K
VERTEX PHARMACEUTICALS INCSOLE	COM	219.67K	SH	$98.09M 1.27%	177.47K	42.20K
IDEXX LABS INCSOLE	COM	168.18K	SH	$94.50M 1.22%	165.03K	3.15K
MCDONALDS CORPSOLE	COM	303.99K	SH	$94.48M 1.22%	228.91K	75.08K
CHEVRON CORPORATIONSOLE	COM	400.54K	SH	$82.87M 1.07%	209.84K	190.70K

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