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Institutional Investment Manager
WELCH & FORBES LLC
WELCH & FORBES LLC (CIK: 0000105495) incorporated in Delaware, located at 45 School Street, Boston, MA. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q2)
Portfolio Summary: 337 holdings with a total value of $3,281,435,000.
#
Name
Shares
Value ($)
%
Options
Notes
301 ANHEUSER BUSCH INBEV SA/NV 210,240 27,685,000 0.84%
302 GLAXOSMITHKLINE PLC 666,393 28,881,000 0.88%
303 JOHNSON CTLS INTL PLC 672,552 29,767,000 0.91%
304 CHEVRON CORP NEW 285,991 29,981,000 0.91%
305 INTEL CORP 924,257 30,315,000 0.92%
306 ABBVIE INC 505,801 31,314,000 0.95%
307 MERCK & CO INC 552,120 31,808,000 0.97%
308 AFLAC INC 450,016 32,473,000 0.99%
309 JPMORGAN CHASE & CO 532,442 33,086,000 1.01%
310 FIRST TR EXCHANGE TRADED FD 1,433,211 35,372,000 1.08%
311 ALPHABET INC 52,017 36,001,000 1.10%
312 PFIZER INC 1,043,655 36,746,000 1.12%
313 MCDONALDS CORP 347,825 41,857,000 1.28%
314 WELLS FARGO & CO NEW 947,204 44,831,000 1.37%
315 3M CO 257,123 45,028,000 1.37%
316 PAYCHEX INC 760,991 45,279,000 1.38%
317 STERICYCLE INC 435,128 45,306,000 1.38%
318 ECOLAB INC 385,064 45,669,000 1.39%
319 SCHLUMBERGER LTD 606,600 47,970,000 1.46%
320 IRON MTN INC NEW 1,207,100 48,079,000 1.47%
321 FISERV INC 446,505 48,549,000 1.48%
322 MICROSOFT CORP 966,203 49,441,000 1.51%
323 CVS HEALTH CORP 536,284 51,344,000 1.56%
324 ANSYS 566,244 51,387,000 1.57%
325 CARMAX INC 1,086,494 53,270,000 1.62%
326 HOME DEPOT INC 441,481 56,373,000 1.72%
327 VISA INC 762,211 56,534,000 1.72%
328 APPLE INC 600,320 57,391,000 1.75%
329 GENERAL ELECTRIC CO 1,938,882 61,035,000 1.86%
330 PEPSICO INC 617,491 65,417,000 1.99%
331 STRYKER CORP 579,357 69,425,000 2.12%
332 DANAHER CORP DEL 725,947 73,320,000 2.23%
333 UNITED TECHNOLOGIES CORP 768,515 78,811,000 2.40%
334 PROCTER AND GAMBLE CO 957,054 81,033,000 2.47%
335 EXXON MOBIL CORP 924,119 86,627,000 2.64%
336 JOHNSON & JOHNSON 724,328 87,862,000 2.68%
337 O REILLY AUTOMOTIVE INC NEW 337,057 91,376,000 2.78%
Page 7 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001085146-16-004123, filed 2016.08.02).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.