1y return+14.5%S&P 500 +20.9%
3y return+43.6%S&P 500 +68.5%
5y return+50.0%S&P 500 +74.5%
10y return+127.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $227 against $357 in the S&P 500.2
Welch Group, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| AAPLApple Inc | $107.9M | 3.7% | |
| CSCOCisco Sys Inc | $106.5M | 3.6% | −4.2% |
| ABBVAbbvie Inc | $93.5M | 3.2% | +1.5% |
| JPMJpmorgan Chase & Co | $90.6M | 3.1% | |
| JNJJohnson & Johnson | $90.5M | 3.1% | |
| RTXRtx Corporation | $87.7M | 3.0% | |
| IBMInternational Business Machs | $84.8M | 2.9% | +2.2% |
| SFBSServisfirst Bancshares Inc | $83.3M | 2.8% | −1.7% |
| MSFTMicrosoft Corp | $82.0M | 2.8% | +2.6% |
| QCOMQualcomm Inc | $76.3M | 2.6% | −1.1% |
| TXNTexas Instrs Inc | $76.2M | 2.6% | −4.4% |
| SOSouthern Co | $75.4M | 2.6% | |
| NEENextera Energy Inc | $75.3M | 2.6% | |
| CINFCincinnati Finl Corp | $73.3M | 2.5% | |
| CVXChevron Corporation | $71.6M | 2.4% | |
| Exxon Mobil CorpCUSIP 30231G102 | $71.1M | 2.4% | |
| HDHome Depot Inc | $70.7M | 2.4% | +5.2% |
| EMREmerson Elec Co | $66.8M | 2.3% | |
| TFCTruist Finl Corp | $66.7M | 2.3% | |
| LMTLockheed Martin Corp | $66.4M | 2.3% | +2.8% |
| MCDMcdonalds Corp | $60.8M | 2.1% | +4.5% |
| AJGGallagher Arthur J & Co | $60.2M | 2.1% | +3.6% |
| EDConsolidated Edison Inc | $59.0M | 2.0% | |
| CLColgate Palmolive Co | $58.1M | 2.0% | +1.2% |
| PGProcter & Gamble Co | $55.6M | 1.9% | +2.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2020 | +2006.7% | $34.8M |
| CATCaterpillar Inc | June 30, 2020 | +741.8% | $40.6M |
| LLYEli Lilly & Co | June 30, 2020 | +630.6% | $18.1M |
| AMDAdvanced Micro Devices Inc | March 31, 2023 | +492.7% | $33.1M |
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $22.5M |
| DEDeere & Co | June 30, 2020 | +303.7% | $17.8M |
| JPMJpmorgan Chase & Co | June 30, 2020 | +248.0% | $90.6M |
| AAPLApple Inc | June 30, 2020 | +217.3% | $107.9M |
| RTXRtx Corporation | June 30, 2020 | +207.9% | $87.7M |
| Exxon Mobil CorpCUSIP 30231G102 | June 30, 2020 | +205.7% | $71.1M |
Sold off last quarter
- Honeywell Intl IncCUSIP 438516106 was $1.7M
- Proassurance CorpCUSIP 74267C106 was $361K
- VXFVanguard Index Fds was $281K
- BSXBoston Scientific Corp was $269K
- KGCKinross Gold Corp was $259K
- ISRGIntuitive Surgical Inc was $239K
- CRMSalesforce Inc was $234K
- FCXFreeport Mcmoran Inc was $215K
- MWAMueller Wtr Prods Inc was $206K
- KSCPKnightscope Inc was $83K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +8.0% | +14.8% |
| March 31, 2026 | +1.4% | −4.6% |
| December 31, 2025 | −0.4% | +2.4% |
| September 30, 2025 | +4.9% | +7.8% |
| June 30, 2025 | +1.9% | +10.5% |
| March 31, 2025 | +2.5% | −4.6% |
| December 31, 2024 | −3.6% | +2.1% |
| September 30, 2024 | +9.9% | +5.4% |
| June 30, 2024 | +0.9% | +4.0% |
| March 31, 2024 | +8.3% | +10.0% |
| December 31, 2023 | +8.0% | +11.2% |
| September 30, 2023 | −4.1% | −3.6% |
| June 30, 2023 | +0.3% | +8.3% |
| March 31, 2023 | −1.1% | +7.0% |
| December 31, 2022 | +10.9% | +7.1% |
| September 30, 2022 | −7.2% | −5.3% |
| June 30, 2022 | −8.3% | −16.5% |
| March 31, 2022 | +0.6% | −4.9% |
| December 31, 2021 | +11.3% | +10.7% |
| September 30, 2021 | −0.3% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Welch Group, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1443095&type=13F-HR&dateb=&owner=include&count=40CIK 1443095
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1443095/000144309526000006/Filed July 23, 2026 · accession 0001443095-26-000006