0001085146-11-000752.txt : 20110718 0001085146-11-000752.hdr.sgml : 20110718 20110718073245 ACCESSION NUMBER: 0001085146-11-000752 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110718 DATE AS OF CHANGE: 20110718 EFFECTIVENESS DATE: 20110718 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELCH & FORBES LLC CENTRAL INDEX KEY: 0000105495 IRS NUMBER: 3573806 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: 11971858 BUSINESS ADDRESS: STREET 1: 45 SCHOOL ST STREET 2: JAMES E. RUSSELL CITY: BOSTON STATE: MA ZIP: 02108 BUSINESS PHONE: 6175231635 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 welc2q2011.txt WELCH & FORBES LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Welch & Forbes LLC Address: 45 School Street Boston, MA 02108 13F File Number: 028-00262 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Todd Jundi Title: Chief Compliance Officer Phone: (617) 557-9878 Signature, Place, and Date of Signing: /s/ Todd Jundi Boston, MA July 14, 2011 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 382 Form 13F Information Table Value Total: $2,499,781 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 01 028-06476 William A. Lowell FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COM 88579Y101 33803 356379 SH SOLE 335302 0 21077 3M CO COM 88579Y101 266 2800 SH OTHER 01 2800 0 0 ABB LTD SPONSORED ADR 000375204 779 30000 SH OTHER 01 30000 0 0 ABB LTD SPONSORED ADR 000375204 17995 693414 SH SOLE 625864 0 67550 ABBOTT LABS COM 002824100 34933 663859 SH SOLE 633020 0 30839 AFFILIATED MANAGERS GROUP COM 008252108 338 3330 SH SOLE 3330 0 0 AFLAC INC COM 001055102 840 18000 SH OTHER 01 18000 0 0 AFLAC INC COM 001055102 32242 690703 SH SOLE 639363 0 51340 AIR PRODS & CHEMS INC COM 009158106 6020 62981 SH SOLE 62981 0 0 ALLERGAN INC COM 018490102 5656 67945 SH SOLE 67945 0 0 ALLIANT ENERGY CORP COM 018802108 1443 35500 SH SOLE 35500 0 0 ALLSTATE CORP COM 020002101 386 12640 SH SOLE 12640 0 0 ALTRIA GROUP INC COM 02209S103 1318 49880 SH SOLE 48407 0 1473 AMERICAN ELEC PWR INC COM 025537101 251 6673 SH SOLE 6673 0 0 AMERICAN EXPRESS CO COM 025816109 2409 46606 SH SOLE 45906 0 700 AMERIPRISE FINL INC COM 03076C106 6312 109432 SH SOLE 96117 0 13315 AMGEN INC COM 031162100 117 2000 SH OTHER 01 2000 0 0 AMGEN INC COM 031162100 3235 55429 SH SOLE 55329 0 100 ANADARKO PETE CORP COM 032511107 5682 74027 SH SOLE 74027 0 0 ANALOG DEVICES INC COM 032654105 1045 26687 SH SOLE 22187 0 4500 ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 3896 67165 SH SOLE 56740 0 10425 ANSYS INC COM 03662Q105 30686 561278 SH SOLE 507613 0 53665 ANSYS INC COM 03662Q105 683 12500 SH OTHER 01 12500 0 0 APACHE CORP COM 037411105 28454 230601 SH SOLE 203332 0 27269 APACHE CORP COM 037411105 1049 8500 SH OTHER 01 8500 0 0 APACHE CORP PFD CONV SER D 037411808 264 4000 SH SOLE 0 0 4000 APPLE INC COM 037833100 671 2000 SH OTHER 01 2000 0 0 APPLE INC COM 037833100 16449 49002 SH SOLE 45498 0 3504 AQUA AMERICA INC COM 03836W103 475 21611 SH SOLE 21611 0 0 AT&T INC COM 00206R102 16698 531600 SH SOLE 522946 0 8654 AUTOMATIC DATA PROCESSING IN COM 053015103 79 1500 SH OTHER 01 1500 0 0 AUTOMATIC DATA PROCESSING IN COM 053015103 15786 299652 SH SOLE 270222 0 29430 BAKER HUGHES INC COM 057224107 272 3742 SH SOLE 3742 0 0 BANK OF AMERICA CORPORATION COM 060505104 732 66754 SH SOLE 58924 0 7830 BANK OF NEW YORK MELLON CORP COM 064058100 219 8562 SH SOLE 8562 0 0 BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 1424 55450 SH SOLE 51750 0 3700 BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 489 10355 SH SOLE 9380 0 975 BARRICK GOLD CORP COM 067901108 30932 682979 SH SOLE 648309 0 34670 BAXTER INTL INC COM 071813109 1093 18313 SH SOLE 18313 0 0 BB&T CORP COM 054937107 300 11163 SH SOLE 10163 0 1000 BECTON DICKINSON & CO COM 075887109 172 2000 SH OTHER 01 2000 0 0 BECTON DICKINSON & CO COM 075887109 6911 80199 SH SOLE 74799 0 5400 BED BATH & BEYOND INC COM 075896100 442 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842587107 702 17364 SH SOLE 15540 0 1824 SPDR GOLD TRUST GOLD SHS 78463V107 1131 7749 SH SOLE 6680 0 1069 SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 313 4000 SH OTHER 01 4000 0 0 SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 4000 51056 SH SOLE 45391 0 5665 SPDR S&P 500 ETF TR TR UNIT 78462F103 2876 21791 SH SOLE 19113 0 2678 SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 10658 60057 SH SOLE 58032 0 2025 ST JUDE MED INC COM 790849103 219 4575 SH SOLE 4575 0 0 STANLEY BLACK & DECKER INC COM 854502101 3440 47739 SH SOLE 47739 0 0 STAPLES INC COM 855030102 9872 624867 SH SOLE 600117 0 24750 STARBUCKS CORP COM 855244109 2205 55833 SH SOLE 55833 0 0 STATE STR CORP COM 857477103 406 9000 SH OTHER 01 9000 0 0 STATE STR CORP COM 857477103 30721 681345 SH SOLE 617225 0 64120 STERICYCLE INC COM 858912108 829 9300 SH OTHER 01 9300 0 0 STERICYCLE INC COM 858912108 49436 554725 SH SOLE 523605 0 31120 STRYKER CORP COM 863667101 880 15000 SH OTHER 01 15000 0 0 STRYKER CORP COM 863667101 33073 563520 SH SOLE 522480 0 41040 SUN LIFE FINL INC COM 866796105 265 8801 SH SOLE 8801 0 0 SUNCOR ENERGY INC NEW COM 867224107 235 6000 SH OTHER 01 6000 0 0 SUNCOR ENERGY INC NEW COM 867224107 23914 611636 SH SOLE 550266 0 61370 SUNTECH PWR HLDGS CO LTD ADR 86800C104 88 11240 SH SOLE 11240 0 0 SUNTRUST BKS INC COM 867914103 1897 73532 SH SOLE 73532 0 0 SYSCO CORP COM 871829107 8925 286239 SH SOLE 282739 0 3500 TARGET CORP COM 87612E106 477 10160 SH SOLE 6560 0 3600 TELLABS INC COM 879664100 117 25432 SH SOLE 25432 0 0 TEMPLE INLAND INC COM 879868107 268 9000 SH SOLE 9000 0 0 TERADATA CORP DEL COM 88076W103 891 14800 SH OTHER 01 14800 0 0 TERADATA CORP DEL COM 88076W103 36389 604456 SH SOLE 547156 0 57300 TERADYNE INC COM 880770102 370 25000 SH SOLE 25000 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 26929 558459 SH SOLE 508637 0 49822 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 540 11200 SH OTHER 01 11200 0 0 TEXAS INSTRS INC COM 882508104 1301 39620 SH SOLE 39620 0 0 THERMO FISHER SCIENTIFIC INC COM 883556102 508 7890 SH SOLE 7890 0 0 TIFFANY & CO NEW COM 886547108 3567 45425 SH SOLE 45275 0 150 TIME WARNER CABLE INC COM 88732J207 486 6225 SH SOLE 1296 0 4929 TIME WARNER INC COM NEW 887317303 773 21241 SH SOLE 7166 0 14075 TJX COS INC NEW COM 872540109 2992 56970 SH SOLE 20165 0 36805 TORONTO DOMINION BK ONT COM NEW 891160509 722 8500 SH OTHER 01 8500 0 0 TORONTO DOMINION BK ONT COM NEW 891160509 19857 233884 SH SOLE 216965 0 16919 TRACTOR SUPPLY CO COM 892356106 5119 76533 SH SOLE 66013 0 10520 TRACTOR SUPPLY CO COM 892356106 669 10000 SH OTHER 01 10000 0 0 TRANSOCEAN LTD REG SHS H8817H100 542 8396 SH SOLE 8046 0 350 TRAVELERS COMPANIES INC COM 89417E109 620 10625 SH SOLE 9975 0 650 TRIMBLE NAVIGATION LTD COM 896239100 7707 194414 SH SOLE 172514 0 21900 UNILEVER N V N Y SHS NEW 904784709 519 15800 SH SOLE 15800 0 0 UNION PAC CORP COM 907818108 2241 21464 SH SOLE 21464 0 0 UNITED PARCEL SERVICE INC CL B 911312106 9775 134037 SH SOLE 133737 0 300 UNITED TECHNOLOGIES CORP COM 913017109 1275 14400 SH OTHER 01 14400 0 0 UNITED TECHNOLOGIES CORP COM 913017109 76636 865849 SH SOLE 805934 0 59915 US BANCORP DEL COM NEW 902973304 4723 185133 SH SOLE 182233 0 2900 VANGUARD BD INDEX FD INC INTERMED TERM 921937819 11645 138710 SH SOLE 130110 0 8600 VANGUARD INDEX FDS SMALL CP ETF 922908751 905 11600 SH SOLE 01 11600 0 0 VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 10599 212798 SH SOLE 179274 0 33524 VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 648 13000 SH OTHER 01 13000 0 0 VANGUARD INTL EQUITY INDEX F MSCI EMR MKT ETF 922042858 8867 182365 SH SOLE 165585 0 16780 VANGUARD TAX-MANAGED INTL FD MSCI EAFE ETF 921943858 297 7800 SH SOLE 7800 0 0 VARIAN MED SYS INC COM 92220P105 1886 26923 SH SOLE 24673 0 2250 VARIAN SEMICONDUCTOR EQUIPMN COM 922207105 1556 25325 SH SOLE 25325 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 14478 388893 SH SOLE 373223 0 15670 VERTEX PHARMACEUTICALS INC COM 92532F100 12215 234939 SH SOLE 203739 0 31200 VERTEX PHARMACEUTICALS INC NOTE 3.350%10/0 92532FAN0 1259 1000000 PR N SOLE 1000000 0 0 VICOR CORP COM 925815102 223 13810 SH SOLE 13810 0 0 VISA INC COM CL A 92826C839 12803 151945 SH SOLE 134124 0 17821 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 1104 41343 SH SOLE 34374 0 6969 VORNADO RLTY TR SH BEN INT 929042109 3328 35721 SH SOLE 32415 0 3306 WAL MART STORES INC COM 931142103 4969 93494 SH SOLE 90094 0 3400 WALGREEN CO COM 931422109 7263 171054 SH SOLE 164954 0 6100 WASTE MGMT INC DEL COM 94106L109 453 12145 SH SOLE 12145 0 0 WATERS CORP COM 941848103 417 4350 SH SOLE 250 0 4100 WELLS FARGO & CO NEW COM 949746101 281 10000 SH OTHER 01 10000 0 0 WELLS FARGO & CO NEW COM 949746101 13891 495052 SH SOLE 470008 0 25044 WEYERHAEUSER CO COM 962166104 258 11820 SH SOLE 4490 0 7330 WHITE MTNS INS GROUP LTD COM G9618E107 443 1055 SH SOLE 0 0 1055 WHOLE FOODS MKT INC COM 966837106 656 10339 SH SOLE 10339 0 0 WILEY JOHN & SONS INC CL A 968223206 972 18690 SH SOLE 4570 0 14120 WILEY JOHN & SONS INC CL B 968223305 288 5532 SH SOLE 5532 0 0 WINDSTREAM CORP COM 97381W104 492 37894 SH SOLE 35894 0 2000 WISCONSIN ENERGY CORP COM 976657106 821 26200 SH SOLE 26200 0 0 ZIMMER HLDGS INC COM 98956P102 4486 70970 SH SOLE 65580 0 5390