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Livermore
Livermore
ZHEN

Welch & Forbes LLC

SEC CIK
0000105495
Latest filing
Jul 30, 2026

The latest 13F from Welch & Forbes LLC covers Q2 2026 (filed Jul 30, 2026): 388 long positions worth $8.23B. The top 10 holdings make up 37.9% of the portfolio, and the largest is NVIDIA Corp (NVDA) at 7.4%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
29
Est. +$9.48M
Added
116
Est. +$71.4M
Reduced
169
Est. −$159.4M
Sold out
9
Est. −$4.05M

Top 5 holdings

Share of this quarter's portfolio value

  1. NVDANVIDIA Corp
    7.4%$608.5MHistory
  2. AAPLApple Inc.
    5.8%$481.2MHistory
  3. GOOGAlphabet Inc.
    5.0%$407.5MHistory
  4. MSFTMicrosoft Corp
    4.0%$331.0MHistory
  5. ORLYO Reilly Automotive Inc
    3.1%$258.7MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. METAMeta Platforms, Inc.
    +$8.30MAddedHistory
  2. AVGOBroadcom Inc.
    +$8.15MAddedHistory
  3. PANWPalo Alto Networks Inc
    +$7.44MAddedHistory
  4. LLYEli Lilly & Co
    +$5.36MAddedHistory
  5. IBMInternational Business Machines Corp
    +$4.56MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. PANWPalo Alto Networks Inc
    +0.71 pp0.6% → 1.3%History
  2. LLYEli Lilly & Co
    +0.52 pp2.0% → 2.5%History
  3. AVGOBroadcom Inc.
    +0.24 pp1.0% → 1.2%History
  4. AMZNAmazon Com Inc
    +0.15 pp1.5% → 1.7%History
  5. ABBVAbbVie Inc.
    +0.09 pp1.0% → 1.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MDYSPDR S&P Midcap 400 ETF Trust
    −$13.6MReducedHistory
  2. ROPRoper Technologies Inc
    −$13.4MReducedHistory
  3. NVDANVIDIA Corp
    −$11.0MReducedHistory
  4. FISVFiserv Inc
    −$9.71MReducedHistory
  5. ACNAccenture plc
    −$7.72MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CVXChevron Corp
    −0.27 pp1.1% → 0.8%History
  2. RTXRTX Corp
    −0.26 pp2.7% → 2.5%History
  3. ROPRoper Technologies Inc
    −0.25 pp0.8% → 0.6%History
  4. MCDMcDonalds Corp
    −0.24 pp1.2% → 1.0%History
  5. ORLYO Reilly Automotive Inc
    −0.24 pp3.4% → 3.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$8.23B
+$493.6M (+6.4%) vs. prior quarter
Positions
388
+20 vs. prior quarter
Top 10 concentration
37.9%
Top 10 as share of value
Turnover
1.0%
Q2 2026, one quarter
Average holding period
21.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $8.30B (Q3 2025)

Q1 2021: $5.42BQ2 2021: $5.92BQ3 2021: $6.02BQ4 2021: $6.68BQ1 2022: $6.35BQ2 2022: $5.47BQ3 2022: $5.12BQ4 2022: $5.58BQ1 2023: $5.91BQ2 2023: $6.34BQ3 2023: $6.05BQ4 2023: $6.62BQ1 2024: $7.28BQ2 2024: $7.49BQ3 2024: $7.86BQ4 2024: $7.78BQ1 2025: $7.64BQ2 2025: $8.01BQ3 2025: $8.30BQ4 2025: $8.25BQ1 2026: $7.73BQ2 2026: $8.23B
Q1 2021Q2 2026
13F filings of Welch & Forbes LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 30, 2026388$8.23BNVDAAAPLGOOGvs. Q1 2026SEC
Q1 2026May 1, 2026368$7.73BNVDAAAPLGOOGvs. Q4 2025SEC
Q4 2025Feb 10, 2026374$8.25BNVDAAAPLMSFTvs. Q3 2025SEC
Q3 2025Nov 4, 2025383$8.30BNVDAMSFTAAPLvs. Q2 2025SEC
Q2 2025Aug 5, 2025372$8.01BNVDAMSFTAAPLvs. Q1 2025SEC
Q1 2025May 2, 2025370$7.64BNVDAAAPLMSFTvs. Q4 2024SEC
Q4 2024Feb 7, 2025379$7.78BNVDAAAPLMSFTvs. Q3 2024SEC
Q3 2024Nov 4, 2024373$7.86BNVDAAAPLMSFTvs. Q2 2024SEC
Q2 2024Aug 2, 2024366$7.49BNVDAMSFTAAPLvs. Q1 2024SEC
Q1 2024May 3, 2024378$7.28BNVDAMSFTAAPLvs. Q4 2023SEC
Q4 2023Feb 6, 2024366$6.62BAAPLMSFTNVDAvs. Q3 2023SEC
Q3 2023Nov 3, 2023367$6.05BAAPLMSFTNVDAvs. Q2 2023SEC
Q2 2023Jul 28, 2023375$6.34BAAPLMSFTNVDAvs. Q1 2023SEC
Q1 2023Apr 14, 2023365$5.91BAAPLMSFTORLYvs. Q4 2022SEC
Q4 2022Feb 2, 2023368$5.58BAAPLMSFTORLYvs. Q3 2022SEC
Q3 2022Oct 31, 2022370$5.12BAAPLMSFTDHRvs. Q2 2022SEC
Q2 2022Jul 22, 2022379$5.47BAAPLMSFTDHRvs. Q1 2022SEC
Q1 2022Apr 25, 2022389$6.35BAAPLMSFTDHRvs. Q4 2021SEC
Q4 2021Jan 19, 2022386$6.68BAAPLMSFTDHRvs. Q3 2021SEC
Q3 2021Oct 13, 2021386$6.02BAAPLMSFTDHRvs. Q2 2021SEC
Q2 2021Jul 22, 2021388$5.92BAAPLMSFTDHRvs. Q1 2021SEC
Q1 2021Apr 14, 2021386$5.42BAAPLMSFTV–SEC