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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 (2016Q4)
Portfolio Summary: 343 holdings with a total value of $3,341,812,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 STATE STR CORP 302,663 23,524,000 0.70%
52 STERICYCLE INC 304,580 23,465,000 0.70%
53 IDEXX LAB 195,244 22,896,000 0.69%
54 FACEBOOK INC 188,356 21,671,000 0.65%
55 COMCAST CORP NEW 311,990 21,544,000 0.64%
56 ISHARES TR 205,295 21,543,000 0.64%
57 SPDR S&P MIDCAP 400 ETF TR 69,777 21,054,000 0.63%
58 AT&T INC 490,969 20,881,000 0.62%
59 ISHARES TR 174,205 20,413,000 0.61%
60 COCA COLA CO 485,787 20,141,000 0.60%
61 EXPEDITORS INTL WASH INC 375,985 19,912,000 0.60%
62 COSTCO WHSL CORP NEW 120,083 19,226,000 0.58%
63 TORONTO DOMINION BK ONT 374,705 18,487,000 0.55%
64 OMNICOM GROUP INC 215,435 18,335,000 0.55%
65 MIDDLEBY CORP 139,337 17,948,000 0.54%
66 US BANCORP DEL 346,355 17,792,000 0.53%
67 GILEAD SCIENCES INC 246,640 17,662,000 0.53%
68 COGNEX CORP 274,185 17,444,000 0.52%
69 PRICELINE GRP INC 11,632 17,053,000 0.51%
70 RESMED INC 273,425 16,966,000 0.51%
71 QUALCOMM INC 256,914 16,750,000 0.50%
72 BRISTOL MYERS SQUIBB CO 284,816 16,644,000 0.50%
73 AMERIPRISE FINL INC 145,885 16,185,000 0.48%
74 DOVER CORP 210,524 15,774,000 0.47%
75 FORTIVE CORP 292,376 15,680,000 0.47%
76 CHURCH & DWIGHT 352,698 15,586,000 0.47%
77 BERKSHIRE HATHAWAY INC DEL 91,844 14,968,000 0.45%
78 Lancaster Colony Corp 104,875 14,828,000 0.44%
79 VERTEX PHARMACEUTICALS INC 189,893 13,990,000 0.42%
80 BANK AMER CORP 632,052 13,968,000 0.42%
81 BECTON DICKINSON & CO 78,363 12,973,000 0.39%
82 SUNCOR ENERGY INC NEW 380,775 12,448,000 0.37%
83 ISHARES TR 308,139 11,466,000 0.34%
84 SYSCO CORP 200,650 11,110,000 0.33%
85 CISCO SYS INC 367,041 11,092,000 0.33%
86 EDWARDS LIFESCIENCES CORP 117,770 11,035,000 0.33%
87 LILLY ELI & CO 145,320 10,688,000 0.32%
88 ORACLE CORP 257,792 9,912,000 0.30%
89 FIRST TR EXCHANGE TRADED FD 201,480 9,782,000 0.29%
90 EMERSON ELEC CO 172,895 9,639,000 0.29%
91 UNITED PARCEL SERVICE INC 83,276 9,547,000 0.29%
92 HAIN CELESTIAL GROUP INC 241,640 9,431,000 0.28%
93 VANGUARD BD INDEX FDS 110,832 9,207,000 0.28%
94 TRACTOR SUPPLY CO 121,193 9,188,000 0.27%
95 METLIFE INC 162,424 8,753,000 0.26%
96 Linear Technology Corp 140,348 8,751,000 0.26%
97 BOSTON SCIENTIFIC CORP 402,670 8,710,000 0.26%
98 POWERSHARES ETF TRUST II 359,672 8,402,000 0.25%
99 TIME WARNER INC 82,735 7,986,000 0.24%
100 WAL-MART STORES INC 115,373 7,975,000 0.24%
Page 2 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001085146-17-000299, filed 2017.02.07).

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.