0001085146-23-001692.txt : 20230414 0001085146-23-001692.hdr.sgml : 20230414 20230414145244 ACCESSION NUMBER: 0001085146-23-001692 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230331 FILED AS OF DATE: 20230414 DATE AS OF CHANGE: 20230414 EFFECTIVENESS DATE: 20230414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELCH & FORBES LLC CENTRAL INDEX KEY: 0000105495 IRS NUMBER: 043573806 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-00262 FILM NUMBER: 23820793 BUSINESS ADDRESS: STREET 1: 45 SCHOOL STREET CITY: BOSTON STATE: MA ZIP: 02108 BUSINESS PHONE: 617-523-1635 MAIL ADDRESS: STREET 1: 45 SCHOOL STREET CITY: BOSTON STATE: MA ZIP: 02108 FORMER COMPANY: FORMER CONFORMED NAME: WELCH & FORBES INC DATE OF NAME CHANGE: 19970304 13F-HR 1 primary_doc.xml X0202 13F-HR LIVE false false false 0000105495 XXXXXXXX 03-31-2023 03-31-2023 false WELCH & FORBES LLC

45 SCHOOL STREET Boston MA 02108

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11760 SH SOLE 11760 0 0 MARSH & MCLENNAN COS INC COM 571748102 BBG001S5T7M4 3120648 18737 SH SOLE 14488 0 4249 MASCO CORP COM 574599106 BBG001S5SZ70 1365659 27467 SH SOLE 24367 0 3100 MASTERCARD INCORPORATED CL A 57636Q104 BBG001SKNNS6 5391186 14835 SH SOLE 11812 0 3023 MCCORMICK & CO INC COM NON VTG 579780206 BBG001S79S19 1085889 13050 SH SOLE 12320 0 730 MCDONALDS CORP COM 580135101 BBG001S5T110 90854588 324933 SH SOLE 260951 0 63982 MCGRATH RENTCORP COM 580589109 BBG001S5T593 242606 2600 SH SOLE 2600 0 0 MEDTRONIC PLC SHS G5960L103 BBG001S5T2S9 9775287 121251 SH SOLE 108860 0 12391 MERCK & CO INC COM 58933Y105 BBG001S5TC52 42628130 400678 SH SOLE 380472 0 20206 META PLATFORMS INC CL A 30303M102 BBG001SQCQC5 21569415 101771 SH SOLE 53649 0 48122 METLIFE INC COM 59156R108 BBG001S5T3R8 490229 8461 SH SOLE 8213 0 248 METTLER TOLEDO INTERNATIONAL COM 592688105 BBG001SB87G1 100790332 65867 SH SOLE 60823 0 5044 MICROSOFT CORP COM 594918104 BBG001S5TD05 264544604 917600 SH SOLE 774409 0 143191 MONDELEZ INTL INC CL A 609207105 BBG001SHHZJ3 2497369 35820 SH SOLE 29220 0 6600 MOODYS CORP COM 615369105 BBG001S5VP87 11734340 38345 SH SOLE 36105 0 2240 MORGAN STANLEY COM NEW 617446448 BBG001S9V5Z3 676060 7700 SH SOLE 7327 0 373 MORNINGSTAR INC COM 617700109 BBG001SC6FV6 256224 1262 SH SOLE 1260 0 2 NETAPP INC COM 64110D104 BBG001S8LYX5 277364 4344 SH SOLE 4344 0 0 NEXTERA ENERGY INC COM 65339F101 BBG001S5RB29 25419283 329778 SH SOLE 174937 0 154841 NIKE INC CL B 654106103 BBG001S6NTK2 7727301 63008 SH SOLE 60617 0 2391 NORFOLK SOUTHN CORP COM 655844108 BBG001S5TQJ6 337504 1592 SH SOLE 1592 0 0 NORTHEAST BK LEWISTON ME COM 66405S100 BBG001SDS4K7 471240 14000 SH SOLE 0 0 14000 NORTHERN TR CORP COM 665859104 BBG001S5TRG7 399759 4536 SH SOLE 4402 0 134 NORTHROP GRUMMAN CORP COM 666807102 BBG001S5TP26 2177934 4717 SH SOLE 4651 0 66 NOVARTIS AG SPONSORED ADR 66987V109 BBG001SF5LW6 6901840 75020 SH SOLE 62838 0 12182 NOVO-NORDISK A S ADR 670100205 BBG001S5TSK0 1441808 9060 SH SOLE 9045 0 15 NUTRIEN LTD COM 67077M108 BBG00JM9SM69 1034343 14006 SH SOLE 8000 0 6006 NVIDIA CORPORATION COM 67066G104 BBG001S5TZJ6 155959306 561469 SH SOLE 444151 0 117318 OLD SECOND BANCORP INC ILL COM 680277100 BBG001S7HMZ6 417385 29686 SH SOLE 29686 0 0 OMNICOM GROUP INC COM 681919106 BBG001S5VR10 26245124 278197 SH SOLE 252353 0 25844 ONEOK INC NEW COM 682680103 BBG001S5TWK1 216672 3410 SH SOLE 2666 0 744 ORACLE CORP COM 68389X105 BBG001S5SJG6 11325553 121885 SH SOLE 101919 0 19966 OREILLY AUTOMOTIVE INC COM 67103H107 BBG001S78TL6 184969124 217872 SH SOLE 184297 0 33575 OTIS WORLDWIDE CORP COM 68902V107 BBG00RP60LN7 25784223 305500 SH SOLE 289596 0 15904 PALO ALTO NETWORKS INC COM 697435105 BBG001T9NWN5 1769297 8858 SH SOLE 8634 0 224 PARKER-HANNIFIN CORP COM 701094104 BBG001S5V554 1538377 4577 SH SOLE 2974 0 1603 PAYCHEX INC COM 704326107 BBG001S5V135 49021060 427795 SH SOLE 416739 0 11056 PAYCOM SOFTWARE INC COM 70432V102 BBG0064N1009 677639 2229 SH SOLE 2229 0 0 PAYPAL HLDGS INC COM 70450Y103 BBG0077VNXW5 2910109 38321 SH SOLE 34998 0 3323 PEPSICO INC COM 713448108 BBG001S695T1 108556022 595479 SH SOLE 500093 0 95386 PFIZER INC COM 717081103 BBG001S5V466 23684852 580511 SH SOLE 548682 0 31829 PHILIP MORRIS INTL INC COM 718172109 BBG001STP9N1 2751893 28297 SH SOLE 23171 0 5126 PHILLIPS 66 COM 718546104 BBG00286S4P7 1330207 13121 SH SOLE 6095 0 7026 PNC FINL SVCS GROUP INC COM 693475105 BBG001S5V947 1324004 10417 SH SOLE 10373 0 44 PPG INDS INC COM 693506107 BBG001S5VC13 796136 5960 SH SOLE 5006 0 954 PROCTER AND GAMBLE CO COM 742718109 BBG001S5V4L9 119996447 807024 SH SOLE 702279 0 104745 PROGRESSIVE CORP COM 743315103 BBG001S5V509 6260019 43758 SH SOLE 43754 0 4 PROLOGIS INC. COM 74340W103 BBG001S5NMN6 580680 4654 SH SOLE 4227 0 427 PUBLIC SVC ENTERPRISE GRP IN COM 744573106 BBG001S5V3C1 276966 4435 SH SOLE 4435 0 0 QUALCOMM INC COM 747525103 BBG001S6VS70 20358582 159575 SH SOLE 139251 0 20324 RAYTHEON TECHNOLOGIES CORP COM 75513E101 BBG001S5X5Q9 112701338 1150834 SH SOLE 934797 0 216037 RESMED INC COM 761152107 BBG001SBGRC2 66905943 305520 SH SOLE 231419 0 74101 ROPER TECHNOLOGIES INC COM 776696106 BBG001S9B362 84718371 192240 SH SOLE 151835 0 40405 RPM INTL INC COM 749685103 BBG001S7X317 6690525 76691 SH SOLE 70536 0 6155 S&P GLOBAL INC COM 78409V104 BBG001S5T5M8 465096 1349 SH SOLE 1337 0 12 SALESFORCE INC COM 79466L302 BBG001SDLP09 2037155 10197 SH SOLE 9623 0 574 SCHLUMBERGER LTD COM STK 806857108 BBG001S5W4C8 857537 17465 SH SOLE 15542 0 1923 SCHWAB CHARLES CORP COM 808513105 BBG001S5VXD4 295266 5637 SH SOLE 1125 0 4512 SCHWAB STRATEGIC TR US DIVIDEND EQ 808524797 BBG0025RWLM4 2303588 31487 SH SOLE 31487 0 0 SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 BBG001S7TCZ5 461486 3056 SH SOLE 2010 0 1046 SERVICENOW INC COM 81762P102 BBG001T4JFC0 628301 1352 SH SOLE 1348 0 4 SHELL PLC SPON ADS 780259305 BBG0147BN6H1 578567 10055 SH SOLE 9782 0 273 SHERWIN WILLIAMS CO COM 824348106 BBG001S5W2F9 6650945 29590 SH SOLE 29494 0 96 SHOPIFY INC CL A 82509L107 BBG004DW5NC7 1738164 36257 SH SOLE 35097 0 1160 SMITH A O CORP COM 831865209 BBG001S5NRY3 37227732 538360 SH SOLE 305768 0 232592 SOUTHERN CO COM 842587107 BBG001S5W777 621492 8932 SH SOLE 7877 0 1055 SOUTHERN MO BANCORP INC COM 843380106 BBG001S7WWN0 373763 9991 SH SOLE 9991 0 0 SPDR DOW JONES INDL AVERAGE UT SER 1 78467X109 BBG001S8LH99 345925 1040 SH SOLE 1040 0 0 SPDR GOLD TR GOLD SHS 78463V107 BBG001SCPX28 562301 3069 SH SOLE 2372 0 697 SPDR S&P 500 ETF TR TR UNIT 78462F103 BBG001S72SM3 18926114 46230 SH SOLE 31359 0 14871 SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 BBG001S63NQ1 73263571 159821 SH SOLE 126639 0 33182 SPDR SER TR BLOOMBERG INVT 78468R200 BBG0029J2J00 273870 9000 SH SOLE 9000 0 0 SPDR SER TR S&P 600 SML CAP 78464A813 BBG001SPTB69 421411 5015 SH SOLE 4850 0 165 SPDR SER TR S&P DIVID ETF 78464A763 BBG001SPTBP8 2959390 23922 SH SOLE 23922 0 0 SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 BBG00JPZ8T56 690234 36501 SH SOLE 36501 0 0 SPROTT PHYSICAL GOLD TR UNIT 85207H104 BBG001T66XM9 328741 21264 SH SOLE 21264 0 0 STANLEY BLACK & DECKER INC COM 854502101 BBG001S5WHT1 906612 11251 SH SOLE 11236 0 15 STARBUCKS CORP COM 855244109 BBG001S72KH6 27456101 263671 SH SOLE 140801 0 122870 STATE STR CORP COM 857477103 BBG001S5RLD5 6118099 80831 SH SOLE 74555 0 6276 STERICYCLE INC COM 858912108 BBG001S7P0T2 571204 13098 SH SOLE 13098 0 0 STERIS PLC SHS USD G8473T100 BBG00MRHG532 495224 2589 SH SOLE 2589 0 0 STRYKER CORPORATION COM 863667101 BBG001S8FR03 151763423 531626 SH SOLE 452584 0 79042 SUN LIFE FINANCIAL INC. COM 866796105 BBG001S7XWH6 327881 7021 SH SOLE 6860 0 161 SUNCOR ENERGY INC NEW COM 867224107 BBG001S5YSF0 245920 7920 SH SOLE 7880 0 40 SYSCO CORP COM 871829107 BBG001S5WJS8 9605878 124380 SH SOLE 122821 0 1559 TAPESTRY INC COM 876030107 BBG001SFH7D5 331947 7700 SH SOLE 7700 0 0 TARGET CORP COM 87612E106 BBG001SC0K41 1259286 7603 SH SOLE 4081 0 3522 TESLA INC COM 88160R101 BBG001SQKGD7 1640387 7907 SH SOLE 3355 0 4552 TEXAS INSTRS INC COM 882508104 BBG001S5WYZ7 6023004 32380 SH SOLE 27867 0 4513 TEXTRON INC COM 883203101 BBG001S5WZ39 204756 2899 SH SOLE 2880 0 19 THE CIGNA GROUP COM 125523100 BBG00KXRCDQ9 2367743 9266 SH SOLE 8760 0 506 THERMO FISHER SCIENTIFIC INC COM 883556102 BBG001S5WS08 47460088 82343 SH SOLE 52070 0 30273 TJX COS INC NEW COM 872540109 BBG001S5WQ93 62240089 794284 SH SOLE 722145 0 72139 TOPBUILD CORP COM 89055F103 BBG0077VS2G6 254347 1222 SH SOLE 1222 0 0 TORONTO DOMINION BK ONT COM NEW 891160509 BBG001S60L15 21162929 353304 SH SOLE 339470 0 13834 TRACTOR SUPPLY CO COM 892356106 BBG001S7K017 17935189 76307 SH SOLE 65772 0 10535 TRAVELERS COMPANIES INC COM 89417E109 BBG001S5R103 551597 3218 SH SOLE 3215 0 3 TRUIST FINL CORP COM 89832Q109 BBG001S5YYC0 1739550 51013 SH SOLE 39954 0 11059 TYLER TECHNOLOGIES INC COM 902252105 BBG001S5WZB0 396133 1117 SH SOLE 1099 0 18 UNILEVER PLC SPON ADR NEW 904767704 BBG001S5X1K4 1209657 23294 SH SOLE 22519 0 775 UNION PAC CORP COM 907818108 BBG001S5X2M0 4207542 20906 SH SOLE 19645 0 1261 UNITED PARCEL SERVICE INC CL B 911312106 BBG001SDGSH1 14041008 72380 SH SOLE 66571 0 5809 UNITED RENTALS INC COM 911363109 BBG001SBGZ25 279802 707 SH SOLE 707 0 0 UNITEDHEALTH GROUP INC COM 91324P102 BBG001S6WCJ1 2322781 4915 SH SOLE 4383 0 532 US BANCORP DEL COM NEW 902973304 BBG001S6T8C1 5332855 147929 SH SOLE 144720 0 3209 VALERO ENERGY CORP COM 91913Y100 BBG001S5X8K9 3439187 24636 SH SOLE 24057 0 579 VANECK ETF TRUST AGRIBUSINESS ETF 92189F700 BBG001SPSH76 518294 5967 SH SOLE 5650 0 317 VANECK ETF TRUST GOLD MINERS ETF 92189F106 BBG001SR42Z0 6310642 195072 SH SOLE 12150 0 182922 VANECK ETF TRUST MRNGSTR WDE MOAT 92189F643 BBG002XRNHT5 352981 4781 SH SOLE 4781 0 0 VANGUARD BD INDEX FDS INTERMED TERM 921937819 BBG001ST39R1 1037916 13525 SH SOLE 3289 0 10236 VANGUARD BD INDEX FDS SHORT TRM BOND 921937827 BBG001ST39Q2 5920403 77401 SH SOLE 34881 0 42520 VANGUARD INDEX FDS MID CAP ETF 922908629 BBG001SHVTS1 2276882 10795 SH SOLE 2489 0 8306 VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 BBG001TC6MC1 1342570 3570 SH SOLE 3570 0 0 VANGUARD INDEX FDS SMALL CP ETF 922908751 BBG001SHTTV0 2722080 14360 SH SOLE 5360 0 9000 VANGUARD INDEX FDS VALUE ETF 922908744 BBG001SHVR78 2675468 19372 SH SOLE 19292 0 80 VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 BBG001SP7T00 6148898 114997 SH SOLE 110064 0 4933 VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 BBG001SHTTZ6 3071814 76035 SH SOLE 61835 0 14200 VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 BBG001SHTV18 223991 3675 SH SOLE 3675 0 0 VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 BBG001T0SKD6 1195085 10940 SH SOLE 10940 0 0 VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844 BBG001SQX4T3 263513 1711 SH SOLE 1196 0 515 VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858 BBG001SSPWL4 34990180 774633 SH SOLE 87243 0 687390 VANGUARD WHITEHALL FDS HIGH DIV YLD 921946406 BBG001SS0V24 327471 3104 SH SOLE 20 0 3084 VANGUARD WORLD FDS ENERGY ETF 92204A306 BBG001SHTV45 345888 3028 SH SOLE 3018 0 10 VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 BBG001SHVR32 476920 2000 SH SOLE 2000 0 0 VERISK ANALYTICS INC COM 92345Y106 BBG001SBRX64 3273141 17060 SH SOLE 15243 0 1817 VERIZON COMMUNICATIONS INC COM 92343V104 BBG001S67QY1 31241129 803318 SH SOLE 549459 0 253859 VERTEX PHARMACEUTICALS INC COM 92532F100 BBG001S68LJ8 58671763 186218 SH SOLE 171876 0 14342 VISA INC COM CL A 92826C839 BBG001SRCFY3 174433584 773678 SH SOLE 651456 0 122222 VMWARE INC CL A COM 928563402 BBG001S6TFZ0 907418 7268 SH SOLE 7168 0 100 VONTIER CORPORATION COM 928881101 BBG00RRGSKH2 215958 7899 SH SOLE 7659 0 240 WABTEC COM 929740108 BBG001S5XBT3 692665 6854 SH SOLE 6854 0 0 WALGREENS BOOTS ALLIANCE INC COM 931427108 BBG001S5XBY7 772242 22332 SH SOLE 22332 0 0 WALMART INC COM 931142103 BBG001S5XH92 24189871 164054 SH SOLE 85011 0 79043 WASTE CONNECTIONS INC COM 94106B101 BBG001SKJ4K1 730535 5253 SH SOLE 5250 0 3 WASTE MGMT INC DEL COM 94106L109 BBG001S5XH47 992401 6082 SH SOLE 6082 0 0 WATERS CORP COM 941848103 BBG001S8MDG9 1172879 3788 SH SOLE 1413 0 2375 WATSCO INC COM 942622200 BBG001S82CQ2 68357958 214854 SH SOLE 197600 0 17254 WATTS WATER TECHNOLOGIES INC CL A 942749102 BBG001S6N6Y7 1211737 7199 SH SOLE 6799 0 400 WEC ENERGY GROUP INC COM 92939U106 BBG001S5XDC7 1158237 12219 SH SOLE 11809 0 410 WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 2739951 73300 SH SOLE 66008 0 7292 WEST PHARMACEUTICAL SVSC INC COM 955306105 BBG001S5XK22 317366 916 SH SOLE 391 0 525 WEX INC COM 96208T104 BBG001SCJLG6 464322 2525 SH SOLE 2525 0 0 WILLIAMS ROWLAND ACQUISITION COM 96951B102 BBG011M220W9 410000 40000 SH SOLE 0 0 40000 WORKDAY INC CL A 98138H101 BBG001T21KQ7 504371 2442 SH SOLE 2442 0 0 WP CAREY INC COM 92936U109 BBG001S67MM3 213762 2760 SH SOLE 500 0 2260 XYLEM INC COM 98419M100 BBG001V05C73 975176 9314 SH SOLE 9314 0 0 YUM BRANDS INC COM 988498101 BBG001S7JQ30 305897 2316 SH SOLE 2304 0 12 ZIMMER BIOMET HOLDINGS INC COM 98956P102 BBG001S7DQJ9 1941359 15026 SH SOLE 14497 0 529