GALLAGHER ARTHUR J & CO

Ticker: AJG CUSIP: 363576109 Class: COM

Welch Group, LLC's Holding History (CIK: 0001443095)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 229,225 Value ($000) $59,321 Avg Close $264.22 Range $236.34 - $312.72

Q3 2025

Shares 226,514 Value ($000) $70,160 Avg Close $300.20 Range $276.20 - $321.70

Q2 2025

Shares 224,038 Value ($000) $71,719 Avg Close $327.56 Range $299.17 - $348.85

Q1 2025

Shares 225,825 Value ($000) $76,952 Avg Close $313.31 Range $273.17 - $344.60

Q4 2024

Shares 234,210 Value ($000) $66,623 Avg Close $288.06 Range $274.49 - $313.35

Q3 2024

Shares 235,046 Value ($000) $66,135 Avg Close $278.61 Range $254.32 - $297.84

Q2 2024

Shares 238,639 Value ($000) $61,882 Avg Close $244.50 Range $226.63 - $263.02

Q1 2024

Shares 241,817 Value ($000) $60,464 Avg Close $236.41 Range $219.54 - $252.26

Q4 2023

Shares 255,932 Value ($000) $57,554 Avg Close $232.39 Range $214.82 - $249.02

Q3 2023

Shares 261,344 Value ($000) $59,568 Avg Close $219.09 Range $207.73 - $232.98

Q2 2023

Shares 269,674 Value ($000) $59,212 Avg Close $203.16 Range $185.32 - $215.79

Q1 2023

Shares 275,367 Value ($000) $52,680 Avg Close $184.71 Range $170.15 - $196.81

Q4 2022

Shares 293,409 Value ($000) $55,319 Avg Close $181.58 Range $163.94 - $195.97

Q3 2022

Shares 299,512 Value ($000) $51,282 Avg Close $171.86 Range $155.35 - $185.72

Q2 2022

Shares 300,950 Value ($000) $49,067 Avg Close $160.18 Range $143.39 - $180.33

Q1 2022

Shares 301,244 Value ($000) $52,597 Avg Close $153.40 Range $141.59 - $170.78

Q4 2021

Shares 299,766 Value ($000) $50,861 Avg Close $156.75 Range $142.44 - $164.55

Q3 2021

Shares 300,455 Value ($000) $44,663 Avg Close $136.81 Range $129.42 - $147.92

Q2 2021

Shares 306,065 Value ($000) $42,874 Avg Close $134.67 Range $118.24 - $146.63

Q1 2021

Shares 318,397 Value ($000) $39,726 Avg Close $114.59 Range $107.07 - $122.80

Q4 2020

Shares 332,558 Value ($000) $41,141 Avg Close $107.71 Range $96.30 - $122.43

Q3 2020

Shares 341,320 Value ($000) $36,037 Avg Close $97.68 Range $90.30 - $102.85

Q2 2020

Shares 346,546 Value ($000) $33,785 Avg Close $83.03 Range $68.97 - $96.18

Q1 2020

Shares 344,288 Value ($000) $28,063 Avg Close $89.38 Range $60.94 - $102.05

Q4 2019

Shares 333,224 Value ($000) $31,733 Avg Close $85.11 Range $79.19 - $89.69

Q3 2019

Shares 335,617 Value ($000) $30,061 Avg Close $83.14 Range $79.33 - $85.65

Q2 2019

Shares 347,532 Value ($000) $30,440 Avg Close $76.79 Range $71.30 - $81.81

Q1 2019

Shares 355,931 Value ($000) $27,798 Avg Close $70.56 Range $64.39 - $74.18

Q4 2018

Shares 365,606 Value ($000) $26,945 Avg Close $67.97 Range $62.33 - $71.85

Q3 2018

Shares 373,058 Value ($000) $27,771 Avg Close $64.92 Range $58.77 - $69.54

Q2 2018

Shares 371,541 Value ($000) $24,254 Avg Close $60.98 Range $58.35 - $63.75

Q1 2018

Shares 373,742 Value ($000) $25,687 Avg Close $60.39 Range $55.42 - $65.39

Q4 2017

Shares 298,627 Value ($000) $18,897 Avg Close $56.83 Range $54.05 - $60.12

Q3 2017

Shares 300,310 Value ($000) $18,484 Avg Close $52.01 Range $49.57 - $54.94

Q2 2017

Shares 308,076 Value ($000) $17,637 Avg Close $49.64 Range $47.74 - $52.14

Q1 2017

Shares 297,253 Value ($000) $16,807 Avg Close $48.08 Range $45.07 - $50.65

Q4 2016

Shares 302,219 Value ($000) $15,703 Avg Close $43.55 Range $40.73 - $45.38

Q3 2016

Shares 292,638 Value ($000) $14,886 Avg Close $42.42 Range $40.40 - $44.25

Q2 2016

Shares 292,776 Value ($000) $13,936 Avg Close $39.55 Range $36.70 - $41.44

Q1 2016

Shares 364,789 Value ($000) $16,226 Avg Close $33.74 Range $30.29 - $37.98

Q4 2015

Shares 333,648 Value ($000) $13,660 Avg Close $35.98 Range $33.21 - $37.20

Q3 2015

Shares 330,428 Value ($000) $13,640 Avg Close $37.63 Range $33.11 - $40.01

Q2 2015

Shares 319,650 Value ($000) $15,119 Avg Close $39.66 Range $38.04 - $40.98

Q1 2015

Shares 311,941 Value ($000) $14,583 Avg Close $38.18 Range $36.06 - $39.70

Q4 2014

Shares 296,753 Value ($000) $13,971 Avg Close $38.03 Range $35.07 - $40.13

Q3 2014

Shares 283,316 Value ($000) $12,851 Avg Close $37.00 Range $35.50 - $38.49

Q2 2014

Shares 272,172 Value ($000) $12,683 Avg Close $36.40 Range $34.22 - $38.53

Q1 2014

Shares 261,945 Value ($000) $12,463 Avg Close $36.99 Range $34.79 - $39.33

Q4 2013

Shares 262,807 Value ($000) $12,334 Avg Close $36.51 Range $34.17 - $38.03

Q3 2013

Shares 261,729 Value ($000) $11,424 Avg Close $34.24 Range $32.24 - $35.69

Q2 2013

Shares 257,416 Value ($000) $11,246 Avg Close $33.49 Range $31.26 - $35.40

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	229,225	$59,321	$264.22	$236.34 - $312.72
Q3 2025	226,514	$70,160	$300.20	$276.20 - $321.70
Q2 2025	224,038	$71,719	$327.56	$299.17 - $348.85
Q1 2025	225,825	$76,952	$313.31	$273.17 - $344.60
Q4 2024	234,210	$66,623	$288.06	$274.49 - $313.35
Q3 2024	235,046	$66,135	$278.61	$254.32 - $297.84
Q2 2024	238,639	$61,882	$244.50	$226.63 - $263.02
Q1 2024	241,817	$60,464	$236.41	$219.54 - $252.26
Q4 2023	255,932	$57,554	$232.39	$214.82 - $249.02
Q3 2023	261,344	$59,568	$219.09	$207.73 - $232.98
Q2 2023	269,674	$59,212	$203.16	$185.32 - $215.79
Q1 2023	275,367	$52,680	$184.71	$170.15 - $196.81
Q4 2022	293,409	$55,319	$181.58	$163.94 - $195.97
Q3 2022	299,512	$51,282	$171.86	$155.35 - $185.72
Q2 2022	300,950	$49,067	$160.18	$143.39 - $180.33
Q1 2022	301,244	$52,597	$153.40	$141.59 - $170.78
Q4 2021	299,766	$50,861	$156.75	$142.44 - $164.55
Q3 2021	300,455	$44,663	$136.81	$129.42 - $147.92
Q2 2021	306,065	$42,874	$134.67	$118.24 - $146.63
Q1 2021	318,397	$39,726	$114.59	$107.07 - $122.80
Q4 2020	332,558	$41,141	$107.71	$96.30 - $122.43
Q3 2020	341,320	$36,037	$97.68	$90.30 - $102.85
Q2 2020	346,546	$33,785	$83.03	$68.97 - $96.18
Q1 2020	344,288	$28,063	$89.38	$60.94 - $102.05
Q4 2019	333,224	$31,733	$85.11	$79.19 - $89.69
Q3 2019	335,617	$30,061	$83.14	$79.33 - $85.65
Q2 2019	347,532	$30,440	$76.79	$71.30 - $81.81
Q1 2019	355,931	$27,798	$70.56	$64.39 - $74.18
Q4 2018	365,606	$26,945	$67.97	$62.33 - $71.85
Q3 2018	373,058	$27,771	$64.92	$58.77 - $69.54
Q2 2018	371,541	$24,254	$60.98	$58.35 - $63.75
Q1 2018	373,742	$25,687	$60.39	$55.42 - $65.39
Q4 2017	298,627	$18,897	$56.83	$54.05 - $60.12
Q3 2017	300,310	$18,484	$52.01	$49.57 - $54.94
Q2 2017	308,076	$17,637	$49.64	$47.74 - $52.14
Q1 2017	297,253	$16,807	$48.08	$45.07 - $50.65
Q4 2016	302,219	$15,703	$43.55	$40.73 - $45.38
Q3 2016	292,638	$14,886	$42.42	$40.40 - $44.25
Q2 2016	292,776	$13,936	$39.55	$36.70 - $41.44
Q1 2016	364,789	$16,226	$33.74	$30.29 - $37.98
Q4 2015	333,648	$13,660	$35.98	$33.21 - $37.20
Q3 2015	330,428	$13,640	$37.63	$33.11 - $40.01
Q2 2015	319,650	$15,119	$39.66	$38.04 - $40.98
Q1 2015	311,941	$14,583	$38.18	$36.06 - $39.70
Q4 2014	296,753	$13,971	$38.03	$35.07 - $40.13
Q3 2014	283,316	$12,851	$37.00	$35.50 - $38.49
Q2 2014	272,172	$12,683	$36.40	$34.22 - $38.53
Q1 2014	261,945	$12,463	$36.99	$34.79 - $39.33
Q4 2013	262,807	$12,334	$36.51	$34.17 - $38.03
Q3 2013	261,729	$11,424	$34.24	$32.24 - $35.69
Q2 2013	257,416	$11,246	$33.49	$31.26 - $35.40