# Welch Group, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1443095. Source: https://holderbook.com/funds/1443095-welch-group-llc/

- Reported value: $2.9B
- Positions: 320
- Weight of the ten largest: 30.8%
- Filed: 2026-07-23

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $107.9M | 372,791 | 3.7% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $106.5M | 906,782 | 3.6% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $93.5M | 371,366 | 3.2% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $90.6M | 276,835 | 3.1% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $90.5M | 356,484 | 3.1% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $87.7M | 461,989 | 3.0% | 25 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $84.8M | 301,425 | 2.9% | 31 |
| SERVISFIRST BANCSHARES INC | [SFBS](https://holderbook.com/stocks/SFBS/) | $83.3M | 959,733 | 2.8% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $82.0M | 219,788 | 2.8% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $76.3M | 413,112 | 2.6% | 26 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $76.2M | 255,512 | 2.6% | 30 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $75.4M | 787,841 | 2.6% | 31 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $75.3M | 858,202 | 2.6% | 31 |
| CINCINNATI FINL CORP | [CINF](https://holderbook.com/stocks/CINF/) | $73.3M | 396,011 | 2.5% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $71.6M | 432,091 | 2.4% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $71.1M | 519,749 | 2.4% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $70.7M | 200,409 | 2.4% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $66.8M | 466,315 | 2.3% | 31 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $66.7M | 1,339,362 | 2.3% | 27 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $66.4M | 130,241 | 2.3% | 31 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $60.8M | 224,805 | 2.1% | 31 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $60.2M | 262,241 | 2.1% | 31 |
| CONSOLIDATED EDISON INC | [ED](https://holderbook.com/stocks/ED/) | $59.0M | 533,029 | 2.0% | 31 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $58.1M | 634,264 | 2.0% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $55.6M | 379,476 | 1.9% | 31 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $52.8M | 2,194,625 | 1.8% | 31 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $52.6M | 384,533 | 1.8% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $50.9M | 1,201,159 | 1.7% | 31 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $50.7M | 461,771 | 1.7% | 31 |
| PAYCHEX INC | [PAYX](https://holderbook.com/stocks/PAYX/) | $49.5M | 503,577 | 1.7% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $46.9M | 346,274 | 1.6% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $40.6M | 38,163 | 1.4% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $35.0M | 174,029 | 1.2% | 31 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $33.7M | 57,015 | 1.2% | 14 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $32.2M | 27,937 | 1.1% | 31 |
| PIMCO ETF TR | [PYLD](https://holderbook.com/stocks/PYLD/) | $24.2M | 913,614 | 0.8% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $22.9M | 63,087 | 0.8% | 26 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $22.8M | 279,984 | 0.8% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $18.1M | 24,074 | 0.6% | 10 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $18.1M | 15,064 | 0.6% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $17.8M | 28,119 | 0.6% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $17.6M | 51,532 | 0.6% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $16.6M | 69,670 | 0.6% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $16.5M | 16,363 | 0.6% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $15.8M | 44,021 | 0.5% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $13.7M | 18,233 | 0.5% | 15 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $13.2M | 35,018 | 0.5% | 8 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $12.1M | 80,148 | 0.4% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $11.6M | 79,270 | 0.4% | 31 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $11.3M | 153,645 | 0.4% | 12 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $11.0M | 19,595 | 0.4% | 31 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $10.9M | 83,809 | 0.4% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $10.7M | 20,831 | 0.4% | 31 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $10.7M | 30,991 | 0.4% | 31 |
| BLACKSTONE INC | [BX](https://holderbook.com/stocks/BX/) | $10.3M | 87,644 | 0.4% | 26 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $10.1M | 32,214 | 0.3% | 31 |
| GLOBE LIFE INC | [GL](https://holderbook.com/stocks/GL/) | $8.2M | 45,966 | 0.3% | 28 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $8.2M | 16,486 | 0.3% | 13 |
| VULCAN MATLS CO | [VMC](https://holderbook.com/stocks/VMC/) | $8.1M | 27,465 | 0.3% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $6.4M | 18,908 | 0.2% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $5.8M | 8,492 | 0.2% | 26 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $5.7M | 50,675 | 0.2% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $5.5M | 7,346 | 0.2% | 15 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $4.8M | 37,231 | 0.2% | 26 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.8M | 13,515 | 0.2% | 26 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $4.6M | 14,552 | 0.2% | 31 |
| REGIONS FINANCIAL CORP NEW | [RF](https://holderbook.com/stocks/RF/) | $4.5M | 150,270 | 0.2% | 31 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $4.5M | 56,867 | 0.2% | 4 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $4.5M | 38,442 | 0.2% | 19 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $3.9M | 21,747 | 0.1% | 31 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $3.8M | 65,275 | 0.1% | 7 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $3.5M | 13,000 | 0.1% | 11 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $3.3M | 4,432 | 0.1% | 23 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $3.2M | 8,625 | 0.1% | 15 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $3.0M | 42,273 | 0.1% | 31 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $2.7M | 26,853 | 0.1% | 2 |
| MUELLER INDS INC | [MLI](https://holderbook.com/stocks/MLI/) | $2.7M | 22,000 | 0.1% | 22 |
| CRANE COMPANY | [CR](https://holderbook.com/stocks/CR/) | $2.5M | 11,000 | 0.1% | 14 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $2.4M | 16,936 | 0.1% | 11 |
| WELLTOWER INC | [WELL](https://holderbook.com/stocks/WELL/) | $2.4M | 10,731 | 0.1% | 22 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $2.4M | 28,930 | 0.1% | 11 |
| WATTS WATER TECHNOLOGIES INC | [WTS](https://holderbook.com/stocks/WTS/) | $2.1M | 5,400 | 0.1% | 22 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $2.0M | 24,719 | 0.1% | 22 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.0M | 2,114 | 0.1% | 20 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $1.8M | 8,233 | 0.1% | 24 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.8M | 31,739 | 0.1% | 31 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $1.8M | 86,504 | 0.1% | 31 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $1.8M | 2,722 | 0.1% | 13 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $1.7M | 8,141 | 0.1% | 26 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $1.7M | 4,621 | 0.1% | 15 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $1.7M | 5,148 | 0.1% | 24 |
| BANCO BILBAO VIZCAYA ARGENTA | [BBVA](https://holderbook.com/stocks/BBVA/) | $1.7M | 67,195 | 0.1% | 31 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $1.7M | 13,082 | 0.1% | 26 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $1.6M | 13,557 | 0.1% | 24 |
| INTEL CORP | [INTC](https://holderbook.com/stocks/INTC/) | $1.6M | 11,284 | 0.1% | 31 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $1.6M | 20,653 | 0.1% | 22 |
| ENPRO INC | [NPO](https://holderbook.com/stocks/NPO/) | $1.5M | 4,000 | 0.1% | 11 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $1.5M | 12,500 | 0.1% | 4 |
| VANGUARD SCOTTSDALE FDS | [VONE](https://holderbook.com/stocks/VONE/) | $1.4M | 4,222 | 0.0% | 26 |
| TEXTRON INC | [TXT](https://holderbook.com/stocks/TXT/) | $1.4M | 15,400 | 0.0% | 22 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.1% | +14.8% | -5.7% | 100% |
| Q1 2026 | +1.4% | -4.6% | +6.1% | 100% |
| Q4 2025 | -0.4% | +2.4% | -2.7% | 100% |
| Q3 2025 | +4.9% | +7.8% | -2.9% | 100% |
| Q2 2025 | +1.9% | +10.5% | -8.5% | 101% |
| Q1 2025 | +2.5% | -4.6% | +7.0% | 100% |
| Q4 2024 | -3.6% | +2.1% | -5.7% | 100% |
| Q3 2024 | +9.9% | +5.4% | +4.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.9B | 320 |
| Q1 2026 | $2.7B | 308 |
| Q4 2025 | $2.6B | 307 |
| Q3 2025 | $2.6B | 298 |
| Q2 2025 | $2.4B | 280 |
| Q1 2025 | $2.3B | 266 |
| Q4 2024 | $2.2B | 263 |
| Q3 2024 | $2.3B | 269 |
| Q2 2024 | $2.1B | 267 |
| Q1 2024 | $2.0B | 234 |
| Q4 2023 | $1.9B | 228 |
| Q3 2023 | $1.7B | 215 |