WELCH & FORBES LLC

PrivateCIK: 105495

Location

BOSTON, MA

388

Positions

$8.23B

Total AUM (reported)

44.74M

Total Shares

Allocation by class

COM$6.61B80.3%

CAP STK CL C$407.47M5.0%

COM CL A$242.22M2.9%

CAP STK CL A$143.56M1.7%

CL A$107.47M1.3%

UTSER1 S&PDCRP$100.00M1.2%

VAN FTSE DEV MKT$67.70M0.8%

Portfolio Concentration

Top 3$1.50B18.2%

4–10$1.62B19.7%

11–25$1.86B22.6%

Rest$3.25B39.5%

Top 3 weight

18.2%

Top 10 weight

37.9%

Voting Authority Distribution

Total shares with voting rights: 44.74M

Sole

Full voting authority

35.81M

% of voting shares80.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

8.93M

% of voting shares20.0%

Investment Discretion (by position count)

Sole388

Shared0

Other0

Dominant voting typeSole · 80.0% of voting shares

Institutional Holdings388

Rows:

NVIDIA CORPORATION

SOLE

COM

Shares3.04M

TypeSH

Market value$608.51M

7.40%

Sole

2.54M

Shared

0.00

None

498.88K

APPLE INC

SOLE

COM

Shares1.66M

TypeSH

Market value$481.16M

5.85%

Sole

1.37M

Shared

0.00

None

288.24K

ALPHABET INC

SOLE

CAP STK CL C

Shares1.15M

TypeSH

Market value$407.47M

4.95%

Sole

930.26K

Shared

0.00

None

222.97K

MICROSOFT CORP

SOLE

COM

Shares887.24K

TypeSH

Market value$330.96M

4.02%

Sole

729.03K

Shared

0.00

None

158.21K

OREILLY AUTOMOTIVE INC

SOLE

COM

Shares2.81M

TypeSH

Market value$258.72M

3.14%

Sole

2.40M

Shared

0.00

None

405.18K

VISA INC

SOLE

COM CL A

Shares705.11K

TypeSH

Market value$241.91M

2.94%

Sole

593.92K

Shared

0.00

None

111.18K

JPMORGAN CHASE & CO

SOLE

COM

Shares645.49K

TypeSH

Market value$211.29M

2.57%

Sole

525.63K

Shared

0.00

None

119.86K

ELI LILLY & CO

SOLE

COM

Shares172.70K

TypeSH

Market value$207.15M

2.52%

Sole

147.40K

Shared

0.00

None

25.30K

RTX CORPORATION

SOLE

COM

Shares1.07M

TypeSH

Market value$202.99M

2.47%

Sole

867.23K

Shared

0.00

None

202.65K

JOHNSON & JOHNSON

SOLE

COM

Shares657.99K

TypeSH

Market value$167.11M

2.03%

Sole

530.63K

Shared

0.00

None

127.36K

STRYKER CORPORATION

SOLE

COM

Shares519.50K

TypeSH

Market value$163.56M

1.99%

Sole

438.62K

Shared

0.00

None

80.88K

COSTCO WHOLESALE CORPORATION

SOLE

COM

Shares162.28K

TypeSH

Market value$151.81M

1.84%

Sole

151.59K

Shared

0.00

None

10.68K

HOME DEPOT INC

SOLE

COM

Shares428.51K

TypeSH

Market value$151.13M

1.84%

Sole

349.15K

Shared

0.00

None

79.35K

ALPHABET INC

SOLE

CAP STK CL A

Shares401.72K

TypeSH

Market value$143.56M

1.74%

Sole

360.29K

Shared

0.00

None

41.43K

AMAZON COM INC

SOLE

COM

Shares579.89K

TypeSH

Market value$138.21M

1.68%

Sole

398.69K

Shared

0.00

None

181.20K

CHUBB LIMITED

SOLE

COM

Shares384.80K

TypeSH

Market value$131.12M

1.59%

Sole

299.70K

Shared

0.00

None

85.10K

ECOLAB INC

SOLE

COM

Shares468.72K

TypeSH

Market value$130.59M

1.59%

Sole

373.73K

Shared

0.00

None

94.99K

TJX COS INC NEW

SOLE

COM

Shares767.96K

TypeSH

Market value$116.35M

1.41%

Sole

717.63K

Shared

0.00

None

50.33K

DANAHER CORP DEL

SOLE

COM

Shares598.32K

TypeSH

Market value$113.97M

1.39%

Sole

561.81K

Shared

0.00

None

36.51K

PROCTER & GAMBLE CO

SOLE

COM

Shares754.63K

TypeSH

Market value$110.66M

1.34%

Sole

626.50K

Shared

0.00

None

128.13K

PALO ALTO NETWORKS INC

SOLE

COM

Shares322.39K

TypeSH

Market value$109.94M

1.34%

Sole

238.13K

Shared

0.00

None

84.26K

VERTEX PHARMACEUTICALS INC

SOLE

COM

Shares221.30K

TypeSH

Market value$109.93M

1.34%

Sole

179.26K

Shared

0.00

None

42.04K

STATE STR SPDR S&P MIDCAP 40

SOLE

UTSER1 S&PDCRP

Shares142.17K

TypeSH

Market value$100.00M

1.22%

Sole

86.73K

Shared

0.00

None

55.45K

BROADCOM INC

SOLE

COM

Shares263.01K

TypeSH

Market value$99.35M

1.21%

Sole

179.56K

Shared

0.00

None

83.45K

IDEXX LABS INC

SOLE

COM

Shares167.67K

TypeSH

Market value$88.27M

1.07%

Sole

164.70K

Shared

0.00

None

2.96K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NVIDIA CORPORATIONSOLE	COM	3.04M	SH	$608.51M 7.40%	2.54M	498.88K
APPLE INCSOLE	COM	1.66M	SH	$481.16M 5.85%	1.37M	288.24K
ALPHABET INCSOLE	CAP STK CL C	1.15M	SH	$407.47M 4.95%	930.26K	222.97K
MICROSOFT CORPSOLE	COM	887.24K	SH	$330.96M 4.02%	729.03K	158.21K
OREILLY AUTOMOTIVE INCSOLE	COM	2.81M	SH	$258.72M 3.14%	2.40M	405.18K
VISA INCSOLE	COM CL A	705.11K	SH	$241.91M 2.94%	593.92K	111.18K
JPMORGAN CHASE & COSOLE	COM	645.49K	SH	$211.29M 2.57%	525.63K	119.86K
ELI LILLY & COSOLE	COM	172.70K	SH	$207.15M 2.52%	147.40K	25.30K
RTX CORPORATIONSOLE	COM	1.07M	SH	$202.99M 2.47%	867.23K	202.65K
JOHNSON & JOHNSONSOLE	COM	657.99K	SH	$167.11M 2.03%	530.63K	127.36K
STRYKER CORPORATIONSOLE	COM	519.50K	SH	$163.56M 1.99%	438.62K	80.88K
COSTCO WHOLESALE CORPORATIONSOLE	COM	162.28K	SH	$151.81M 1.84%	151.59K	10.68K
HOME DEPOT INCSOLE	COM	428.51K	SH	$151.13M 1.84%	349.15K	79.35K
ALPHABET INCSOLE	CAP STK CL A	401.72K	SH	$143.56M 1.74%	360.29K	41.43K
AMAZON COM INCSOLE	COM	579.89K	SH	$138.21M 1.68%	398.69K	181.20K
CHUBB LIMITEDSOLE	COM	384.80K	SH	$131.12M 1.59%	299.70K	85.10K
ECOLAB INCSOLE	COM	468.72K	SH	$130.59M 1.59%	373.73K	94.99K
TJX COS INC NEWSOLE	COM	767.96K	SH	$116.35M 1.41%	717.63K	50.33K
DANAHER CORP DELSOLE	COM	598.32K	SH	$113.97M 1.39%	561.81K	36.51K
PROCTER & GAMBLE COSOLE	COM	754.63K	SH	$110.66M 1.34%	626.50K	128.13K
PALO ALTO NETWORKS INCSOLE	COM	322.39K	SH	$109.94M 1.34%	238.13K	84.26K
VERTEX PHARMACEUTICALS INCSOLE	COM	221.30K	SH	$109.93M 1.34%	179.26K	42.04K
STATE STR SPDR S&P MIDCAP 40SOLE	UTSER1 S&PDCRP	142.17K	SH	$100.00M 1.22%	86.73K	55.45K
BROADCOM INCSOLE	COM	263.01K	SH	$99.35M 1.21%	179.56K	83.45K
IDEXX LABS INCSOLE	COM	167.67K	SH	$88.27M 1.07%	164.70K	2.96K

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