Welch 13F annual report

Welch is an investment fund managing more than $2.08 trillion ran by Brent Gillis. There are currently 250 companies in Mr. Gillis’s portfolio. The largest investments include Microsoft and ServisFirst Bancshares Inc, together worth $169 billion.

Limited to 30 biggest holdings

$2.08 trillion Assets Under Management (AUM)

As of 10th July 2024, Welch’s top holding is 201,022 shares of Microsoft currently worth over $89.8 billion and making up 4.3% of the portfolio value. Relative to the number of outstanding shares of Microsoft, Welch owns more than approximately 0.1% of the company. In addition, the fund holds 1,255,498 shares of ServisFirst Bancshares Inc worth $79.3 billion, whose value grew 33.2% in the past six months. The third-largest holding is Apple Inc worth $77.1 billion and the next is Qualcomm worth $68.1 billion, with 342,098 shares owned.

Currently, Welch's portfolio is worth at least $2.08 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Welch

The Welch office and employees reside in Birmingham, Alabama. According to the last 13-F report filed with the SEC, Brent Gillis serves as the Chief Compliance Officer at Welch.

Recent trades

In the most recent 13F filing, Welch revealed that it had opened a new position in Atlanta Braves Inc and bought 20,976 shares worth $867 million. This means they effectively own approximately 0.1% of the company. Atlanta Braves Inc makes up 1.9% of the fund's Communication Services sector allocation and has grown its share price by 7.4% in the past year.

The investment fund also strengthened its position in Apple Inc by buying 7,742 additional shares. This makes their stake in Apple Inc total 366,000 shares worth $77.1 billion. Apple Inc soared 21.0% in the past year.

On the other hand, there are companies that Welch is getting rid of from its portfolio. Welch closed its position in Equifax on 17th July 2024. It sold the previously owned 831 shares for $222 million. Brent Gillis also disclosed a decreased stake in Microsoft by approximately 0.1%. This leaves the value of the investment at $89.8 billion and 201,022 shares.

One of the largest hedge funds

The two most similar investment funds to Welch are Plancorp and Alpha Cubed Investments. They manage $2.08 trillion and $2.09 trillion respectively.


Brent Gillis investment strategy

Welch’s portfolio is diversified across 13 sectors. Currently, their heaviest sector is Technology — making up 10.5% of the total portfolio value. The fund focuses on investments in the United States as 50.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 45% of the total holdings value. On the other hand, small-cap stocks make up only 0.8% of the portfolio. The average market cap of the portfolio companies is close to $118 billion.

The complete list of Welch trades based on 13F SEC filings

These positions were updated on July 17th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Microsoft Corporation
0.77%
201,022
$89,846,773,000 4.32%
ServisFirst Bancshares Inc
1.47%
1,255,498
$79,334,921,000 3.81%
Apple Inc
2.16%
366,000
$77,086,917,000 3.70%
Qualcomm, Inc.
3.17%
342,098
$68,139,168,000 3.27%
Jpmorgan Chase Co
1.90%
309,063
$62,511,135,000 3.00%
Gallagher Arthur J Co
1.31%
238,639
$61,881,569,000 2.97%
Abbvie Inc
0.61%
359,639
$61,685,208,000 2.96%
The Southern Co.
0.03%
789,281
$61,224,525,000 2.94%
Colgate-Palmolive Co.
0.47%
624,865
$60,636,922,000 2.91%
Exxon Mobil Corp.
0.57%
511,611
$58,896,704,000 2.83%
Chevron Corp.
0.84%
376,006
$58,814,860,000 2.83%
Home Depot, Inc.
0.86%
168,397
$57,968,928,000 2.79%
NextEra Energy Inc
1.75%
808,100
$57,221,537,000 2.75%
International Business Machs
0.03%
324,188
$56,068,397,000 2.69%
RTX Corp
0.62%
545,247
$54,737,385,000 2.63%
Lockheed Martin Corp.
1.21%
116,764
$54,540,306,000 2.62%
Procter And Gamble Co
0.39%
320,880
$52,919,539,000 2.54%
Emerson Elec Co
1.03%
478,434
$52,704,312,000 2.53%
Pepsico Inc
1.91%
305,650
$50,410,830,000 2.42%
Johnson Johnson
3.16%
337,096
$49,269,885,000 2.37%
Mcdonalds Corp
3.16%
192,099
$48,954,529,000 2.35%
Cincinnati Finl Corp
0.43%
412,758
$48,746,761,000 2.34%
Kimberly-Clark Corp.
0.80%
348,891
$48,216,716,000 2.32%
Unilever plc
0.87%
865,256
$47,580,450,000 2.29%
Paychex Inc.
0.82%
401,151
$47,560,416,000 2.29%
Truist Finl Corp
2.11%
1,222,780
$47,505,021,000 2.28%
Texas Instrs Inc
0.96%
231,357
$45,005,890,000 2.16%
Consolidated Edison, Inc.
1.21%
495,320
$44,291,554,000 2.13%
Verizon Communications Inc
1.50%
1,064,637
$43,905,627,000 2.11%
Pfizer Inc.
4.52%
1,560,118
$43,652,096,000 2.10%
General Mls Inc
1.73%
676,543
$42,798,098,000 2.06%
NVIDIA Corp
857.87%
194,562
$24,036,197,000 1.15%
Coca-Cola Co
5.07%
240,736
$15,322,862,000 0.74%
Caterpillar Inc.
2.03%
35,660
$11,878,273,000 0.57%
Amazon.com Inc.
0.54%
53,035
$10,249,068,000 0.49%
Alphabet Inc
0.59%
65,509
$11,947,911,000 0.57%
Ishares Tr
0.05%
53,041
$12,606,714,000 0.61%
Deere Co
12.76%
22,890
$8,552,315,000 0.41%
Oracle Corp.
1.40%
59,126
$8,348,535,000 0.40%
Visa Inc
12.42%
28,789
$7,556,380,000 0.36%
Aflac Inc.
147.71%
83,851
$7,488,712,000 0.36%
Advanced Micro Devices Inc.
8.77%
43,337
$7,029,695,000 0.34%
Vulcan Matls Co
10.34%
28,247
$7,024,548,000 0.34%
Tjx Cos Inc New
2.66%
63,019
$6,938,415,000 0.33%
Goldman Sachs Group, Inc.
2.07%
15,116
$6,837,156,000 0.33%
Blackstone Inc
1.95%
54,243
$6,715,226,000 0.32%
Meta Platforms Inc
2.75%
13,212
$6,661,803,000 0.32%
Abbott Labs
5.11%
60,571
$6,293,934,000 0.30%
Cisco Sys Inc
4.86%
129,315
$6,143,763,000 0.30%
Stryker Corp.
2.88%
17,821
$6,063,561,000 0.29%
Mastercard Incorporated
2.62%
13,323
$5,877,608,000 0.28%
Sherwin-Williams Co.
3.12%
19,472
$5,811,139,000 0.28%
Eli Lilly Co
6.70%
6,339
$5,739,204,000 0.28%
Target Corp
3.25%
37,741
$5,587,147,000 0.27%
Carrier Global Corporation
6.49%
84,512
$5,331,012,000 0.26%
Accenture Plc Ireland
9.87%
17,285
$5,244,303,000 0.25%
Dollar Gen Corp New
9.30%
35,309
$4,668,933,000 0.22%
Vanguard Index Fds
2.12%
16,617
$6,396,479,000 0.31%
Globe Life Inc
4.57%
48,818
$4,016,744,000 0.19%
American Express Co.
26.23%
16,842
$3,899,766,000 0.19%
Merck Co Inc
0.64%
30,654
$3,794,963,000 0.18%
Synovus Finl Corp
30.03%
77,980
$3,134,017,000 0.15%
Walmart Inc
2.53%
43,992
$2,978,711,000 0.14%
Regions Financial Corp.
5.19%
130,181
$2,608,837,000 0.13%
Philip Morris International Inc
1.46%
21,567
$2,185,354,000 0.11%
Graco Inc.
6.73%
23,791
$1,886,151,000 0.09%
Altria Group Inc.
5.24%
40,925
$1,864,128,000 0.09%
Genuine Parts Co.
44.02%
13,091
$1,810,761,000 0.09%
Bank America Corp
5.78%
42,621
$1,695,028,000 0.08%
Republic Svcs Inc
27.82%
8,609
$1,673,074,000 0.08%
Att Inc
26.01%
84,634
$1,617,361,000 0.08%
Crane Co
83.33%
11,000
$1,594,780,000 0.08%
Aon plc.
No change
5,272
$1,547,754,000 0.07%
Honeywell International Inc
88.42%
7,032
$1,501,614,000 0.07%
Costco Whsl Corp New
0.46%
1,736
$1,475,583,000 0.07%
Spdr Gold Tr
14.64%
6,812
$1,464,649,000 0.07%
Waste Mgmt Inc Del
16.49%
6,788
$1,448,152,000 0.07%
Textron Inc.
185.19%
15,400
$1,322,244,000 0.06%
Modine Mfg Co
271.43%
13,000
$1,302,470,000 0.06%
Select Sector Spdr Tr
106.01%
23,361
$3,067,792,000 0.15%
Wells Fargo Co New
44.32%
21,166
$1,257,024,000 0.06%
Mueller Inds Inc
76.00%
22,000
$1,252,680,000 0.06%
Mondelez International Inc.
27.55%
18,988
$1,242,555,000 0.06%
Spdr Sp 500 Etf Tr
0.65%
2,278
$1,239,952,000 0.06%
Duke Energy Corp.
10.47%
12,336
$1,236,432,000 0.06%
Northrop Grumman Corp.
No change
2,770
$1,207,582,000 0.06%
Disney Walt Co
54.27%
11,606
$1,152,356,000 0.06%
Welltower Inc.
No change
10,700
$1,115,475,000 0.05%
Conocophillips
3.93%
9,554
$1,092,787,000 0.05%
Novartis AG
No change
10,226
$1,088,660,000 0.05%
Vanguard Scottsdale Fds
0.07%
4,366
$1,074,342,000 0.05%
Spdr Ser Tr
0.56%
11,588
$1,063,547,000 0.05%
Xylem Inc
69.57%
7,800
$1,057,914,000 0.05%
Pacer Fds Tr
0.96%
20,607
$1,025,405,000 0.05%
Bank New York Mellon Corp
217.39%
16,936
$1,014,298,000 0.05%
GATX Corp.
149.40%
7,512
$994,237,000 0.05%
Watts Water Technologies, Inc.
86.21%
5,400
$990,198,000 0.05%
Oneok Inc.
33.08%
12,069
$984,227,000 0.05%
United Cmnty Bks Blairsvle G
No change
37,714
$960,199,000 0.05%
Invesco Qqq Tr
20.67%
1,985
$950,931,000 0.05%
Eaton Corp Plc
0.50%
2,805
$879,508,000 0.04%
Atlanta Braves Holdings Inc
Opened
20,976
$866,939,000 0.04%
Herc Holdings Inc
87.14%
6,082
$810,670,000 0.04%
Global Pmts Inc
289.12%
7,977
$771,376,000 0.04%
Smucker J M Co
164.61%
7,073
$771,287,000 0.04%
United Rentals, Inc.
21.55%
1,162
$751,501,000 0.04%
Idex Corporation
37.04%
3,700
$744,440,000 0.04%
Vanguard Whitehall Fds
No change
5,928
$703,061,000 0.03%
Diageo plc
44.74%
5,500
$693,440,000 0.03%
Intel Corp.
16.50%
22,377
$693,003,000 0.03%
Banco Bilbao Vizcaya Argenta
15.04%
68,046
$682,502,000 0.03%
Royal Bk Cda
No change
6,390
$679,769,000 0.03%
Bristol-Myers Squibb Co.
2.07%
16,337
$678,467,000 0.03%
Chubb Limited
8.32%
2,646
$674,942,000 0.03%
Diamondback Energy Inc
2.49%
3,283
$657,262,000 0.03%
Yum Brands Inc.
No change
4,958
$656,778,000 0.03%
Arcosa Inc
87.50%
7,500
$625,575,000 0.03%
State Str Corp
72.19%
8,348
$617,752,000 0.03%
Micron Technology Inc.
5.60%
4,697
$617,736,000 0.03%
United States Cellular Corporation
Opened
11,000
$614,020,000 0.03%
VanEck ETF Trust
No change
2,333
$608,214,000 0.03%
American Elec Pwr Co Inc
1.78%
6,843
$600,380,000 0.03%
Paccar Inc.
No change
5,829
$600,038,000 0.03%
Cnh Indl N V
122.52%
58,118
$588,736,000 0.03%
Enpro Inc
100.00%
4,000
$582,280,000 0.03%
Zimmer Biomet Holdings Inc
76.29%
5,315
$576,797,000 0.03%
Crescent Energy Company
9.15%
48,396
$573,493,000 0.03%
Select Sector Spdr Tr
Opened
7,429
$568,913,000 0.03%
Phillips 66
0.30%
3,961
$559,127,000 0.03%
Martin Marietta Matls Inc
14.14%
1,020
$552,636,000 0.03%
National Fuel Gas Co.
Opened
9,700
$525,643,000 0.03%
Ryman Hospitality Pptys Inc
90.91%
5,250
$524,265,000 0.03%
Reaves Util Income Fd
No change
19,017
$519,545,000 0.02%
Blackrock Inc.
6.54%
652
$513,368,000 0.02%
Ishares Silver Tr
7.64%
19,164
$509,188,000 0.02%
General Dynamics Corp.
1.11%
1,729
$501,653,000 0.02%
Vanguard World Fd
No change
3,030
$774,061,000 0.04%
Kraft Heinz Co
0.30%
14,913
$480,503,000 0.02%
Boeing Co.
24.12%
2,619
$476,616,000 0.02%
Flowserve Corp.
60.16%
9,850
$473,785,000 0.02%
Vanguard Specialized Funds
4.99%
2,544
$464,394,000 0.02%
Madison Square Grdn Sprt Cor
Opened
2,439
$458,850,000 0.02%
Invesco Exchange Traded Fd T
7.01%
11,979
$454,604,000 0.02%
Netflix Inc.
6.91%
665
$448,796,000 0.02%
Marathon Pete Corp
No change
2,549
$442,201,000 0.02%
Pnc Finl Svcs Group Inc
No change
2,826
$439,387,000 0.02%
Schwab Strategic Tr
No change
13,702
$812,447,000 0.04%
Halliburton Co.
149.16%
12,839
$433,704,000 0.02%
Dominion Energy Inc
No change
8,778
$430,122,000 0.02%
Sony Group Corp
Opened
5,000
$424,750,000 0.02%
Automatic Data Processing In
No change
1,709
$407,922,000 0.02%
Iron Mtn Inc Del
No change
4,531
$406,069,000 0.02%
Norfolk Southn Corp
0.05%
1,891
$405,926,000 0.02%
Tesla Inc
29.30%
1,990
$393,785,000 0.02%
Simon Ppty Group Inc New
0.08%
2,515
$381,748,000 0.02%
Firstenergy Corp.
52.60%
9,855
$377,134,000 0.02%
Enterprise Prods Partners L
0.53%
12,931
$374,753,000 0.02%
Starbucks Corp.
4.51%
4,769
$371,253,000 0.02%
Dow Inc
0.20%
6,929
$367,578,000 0.02%
Nucor Corp.
No change
2,299
$363,491,000 0.02%
Newmont Corp
Opened
8,622
$361,004,000 0.02%
Chemed Corp.
97.01%
660
$358,103,000 0.02%
Post Holdings Inc
Opened
3,400
$354,144,000 0.02%
Union Pac Corp
No change
1,563
$353,645,000 0.02%
American Coastal Ins Corp
No change
33,497
$353,394,000 0.02%
Trinity Inds Inc
Opened
11,500
$344,080,000 0.02%
Idacorp, Inc.
No change
3,656
$340,557,000 0.02%
Crane Nxt Co
57.14%
5,500
$337,810,000 0.02%
Eversource Energy
Opened
5,936
$336,631,000 0.02%
Microchip Technology, Inc.
9.93%
3,653
$334,250,000 0.02%
Renaissancere Hldgs Ltd
No change
1,450
$324,090,000 0.02%
Capital One Finl Corp
No change
2,327
$322,174,000 0.02%
Fox Corporation
Opened
10,000
$320,200,000 0.02%
Entergy Corp.
No change
2,991
$320,037,000 0.02%
Griffon Corp.
66.67%
5,000
$319,300,000 0.02%
Schwab Charles Corp
0.21%
4,275
$315,046,000 0.02%
ITT Inc
4.38%
2,402
$310,240,000 0.01%
Southern Sts Bancshares Inc
No change
11,182
$303,480,000 0.01%
Clorox Co.
No change
2,220
$302,964,000 0.01%
Valmont Inds Inc
Opened
1,100
$301,895,000 0.01%
Air Prods Chems Inc
6.86%
1,167
$301,074,000 0.01%
Devon Energy Corp.
3.26%
6,333
$300,161,000 0.01%
Fortune Brands Innovations I
No change
4,621
$300,088,000 0.01%
Paramount Global
Opened
16,223
$298,179,000 0.01%
Nasdaq Inc
No change
4,947
$298,107,000 0.01%
Annaly Capital Management In
1.26%
15,627
$297,857,000 0.01%
Gilead Sciences, Inc.
No change
4,136
$283,771,000 0.01%
Edgewell Pers Care Co
Opened
7,000
$281,330,000 0.01%
Kellanova Co
Opened
4,826
$278,352,000 0.01%
APA Corporation
Opened
9,354
$275,382,000 0.01%
Ppg Inds Inc
No change
2,169
$273,056,000 0.01%
Teck Resources Ltd
No change
5,700
$273,030,000 0.01%
AZZ Inc
Opened
3,500
$270,375,000 0.01%
Sensient Technologies Corp.
Opened
3,600
$267,084,000 0.01%
AMGEN Inc.
0.12%
852
$266,105,000 0.01%
Agnico Eagle Mines Ltd
8.00%
4,052
$265,001,000 0.01%
Northern Tr Corp
Opened
3,066
$257,483,000 0.01%
Kinder Morgan Inc
No change
12,907
$256,472,000 0.01%
Archer Daniels Midland Co.
16.05%
4,229
$255,654,000 0.01%
Applied Matls Inc
1.10%
1,074
$253,523,000 0.01%
Patterson Cos Inc
40.00%
10,500
$253,260,000 0.01%
International Paper Co.
No change
5,796
$250,098,000 0.01%
Comcast Corp New
12.33%
6,375
$249,645,000 0.01%
Schlumberger Ltd.
1.75%
5,280
$249,096,000 0.01%
Shell Plc
14.10%
3,407
$245,938,000 0.01%
Ingersoll Rand Inc.
Opened
2,682
$243,655,000 0.01%
Alibaba Group Hldg Ltd
Opened
3,310
$238,320,000 0.01%
Conagra Brands Inc
Opened
8,335
$236,881,000 0.01%
Constellation Brands Inc
No change
917
$235,970,000 0.01%
Xcel Energy Inc.
No change
4,400
$235,004,000 0.01%
Vanguard World Fd
Opened
747
$234,717,000 0.01%
Campbell Soup Co.
Opened
5,102
$230,564,000 0.01%
Dana Inc
Opened
19,000
$230,280,000 0.01%
Edwards Lifesciences Corp
No change
2,453
$226,584,000 0.01%
Lam Research Corp.
No change
213
$226,433,000 0.01%
Salesforce Inc
0.34%
878
$225,734,000 0.01%
Smith A O Corp
Opened
2,754
$225,223,000 0.01%
Equifax, Inc.
Closed
831
$222,310,000
Coinbase Global Inc
No change
1,000
$222,230,000 0.01%
Regeneron Pharmaceuticals, Inc.
49.15%
210
$220,759,000 0.01%
Brown-Forman Corporation
Opened
5,000
$220,650,000 0.01%
J P Morgan Exchange Traded F
No change
2,227
$218,472,000 0.01%
Triumph Financial Inc
No change
2,644
$216,147,000 0.01%
Whirlpool Corp.
No change
2,100
$214,620,000 0.01%
Thermo Fisher Scientific Inc.
No change
384
$212,412,000 0.01%
Morgan Stanley
No change
2,179
$211,778,000 0.01%
MGM Resorts International
Opened
4,750
$211,090,000 0.01%
Oreilly Automotive Inc
10.00%
198
$209,100,000 0.01%
TEGNA Inc
Opened
15,000
$209,100,000 0.01%
Autodesk Inc.
Closed
801
$208,597,000
Vanguard Index Fds
Closed
881
$207,731,000
Us Bancorp Del
Closed
4,635
$207,185,000
Energizer Hldgs Inc New
Opened
7,000
$206,780,000 0.01%
Schwab Strategic Tr
Opened
3,209
$206,179,000 0.01%
Boston Scientific Corp.
Opened
2,657
$204,616,000 0.01%
Ford Mtr Co Del
10.54%
15,882
$199,163,000 0.01%
Liberty Global Ltd
Opened
10,000
$174,300,000 0.01%
Rivian Automotive, Inc.
No change
11,116
$149,177,000 0.01%
Proassurance Corporation
No change
11,960
$146,156,000 0.01%
Paramount Global
No change
12,102
$125,740,000 0.01%
Permian Basin Rty Tr
No change
10,816
$121,356,000 0.01%
Wrap Technologies Inc
No change
51,253
$102,506,000 0.00%
Vodafone Group plc
Opened
10,307
$91,424,000 0.00%
Ambev Sa
148.33%
44,191
$90,592,000 0.00%
Warner Bros.Discovery Inc
Opened
11,334
$84,325,000 0.00%
Bitfarms Ltd
No change
32,740
$84,142,000 0.00%
Medical Pptys Trust Inc
48.40%
18,696
$80,580,000 0.00%
Lexaria Bioscience Corp
No change
24,000
$66,720,000 0.00%
Safe Bulkers, Inc
Closed
13,000
$64,480,000
Grupo Televisa S A B
Opened
20,000
$55,400,000 0.00%
Bp Prudhoe Bay Rty Tr
No change
21,059
$52,227,000 0.00%
Graftech Intl Ltd
No change
34,243
$33,216,000 0.00%
Argo Blockchain Plc
No change
12,309
$14,156,000 0.00%
Westwater Res Inc
No change
22,954
$11,057,000 0.00%
Ampco-pittsburg Corp
Opened
24,356
$10,115,000 0.00%
No transactions found
Showing first 500 out of 255 holdings