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Institutional Investment Manager
Avalon Investment & Advisory
Avalon Investment & Advisory (CIK: 0001221362) incorporated in Delaware, located at 2929 Allen Parkway, Houston, TX. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 303 holdings with a total value of $2,659,425,000.
#
Name
Shares
Value ($)
%
Options
Notes
51 HOME DEPOT INC 135,505 17,437,000 0.66%
52 CROWN CASTLE INTL CORP NEW 184,351 17,368,000 0.65%
53 CMS ENERGY CORP 406,676 17,084,000 0.64%
54 BERKSHIRE HATHAWAY INC DEL 116,257 16,796,000 0.63%
55 PAYCHEX INC 281,091 16,267,000 0.61%
56 SCHLUMBERGER LTD 204,225 16,060,000 0.60%
57 MEDTRONIC PLC COM 181,750 15,703,000 0.59%
58 ISHARES IBOXX $ HIGH YIELD CORPORATE BOND ETF 179,262 15,642,000 0.59%
59 ROYAL DUTCH SHELL PLC 281,789 14,887,000 0.56%
60 Maxim Integrated Products Inc 371,850 14,848,000 0.56%
61 EOG Resources Inc 151,540 14,655,000 0.55%
62 MACQUARIE INFRASTRUCTURE COR 167,547 13,947,000 0.52%
63 CINCINNATI FINL CORP 183,474 13,838,000 0.52%
64 HONEYWELL INTL INC 118,261 13,788,000 0.52%
65 PEOPLES UNITED FINANCIAL INC 867,890 13,730,000 0.52%
66 UNITED TECHNOLOGIES CORP 133,657 13,580,000 0.51%
67 CHUBB LIMITED 106,030 13,323,000 0.50%
68 ISHARES TR 107,873 13,288,000 0.50%
69 TUPPERWARE BRANDS CORP 202,008 13,205,000 0.50%
70 WEINGARTEN RLTY INVS 331,871 12,936,000 0.49%
71 TEXAS INSTRS INC 184,132 12,922,000 0.49%
72 Mid-Amer Apt Cmntys Inc 134,959 12,685,000 0.48%
73 KRAFT HEINZ CO 140,735 12,597,000 0.47%
74 Adobe Systems Inc 115,589 12,546,000 0.47%
75 EPR Properties 155,421 12,238,000 0.46%
76 BlackRock Inc 33,606 12,181,000 0.46%
77 Hewlett Packard Enterprise Com 532,540 12,115,000 0.46%
78 BROADCOM LTD F 68,765 11,863,000 0.45%
79 THERMO FISHER SCIENTIFIC INC 74,275 11,814,000 0.44%
80 US BANCORP DEL 275,008 11,795,000 0.44%
81 AMERICAN TOWER CORP REIT 103,070 11,681,000 0.44%
82 AFLAC INC 159,137 11,437,000 0.43%
83 GENERAL MLS INC 178,607 11,409,000 0.43%
84 Nextera Energy Inc 92,968 11,372,000 0.43%
85 BECTON DICKINSON & CO 60,075 10,797,000 0.41%
86 CELGENE CORP 103,245 10,792,000 0.41%
87 APPLIED MATLS INC 351,052 10,584,000 0.40%
88 NEWELL BRANDS 200,622 10,565,000 0.40%
89 BANK AMER CORP 657,943 10,297,000 0.39%
90 SOUTHWEST AIRLS CO 264,653 10,292,000 0.39%
91 DISNEY WALT CO 109,455 10,164,000 0.38%
92 CATERPILLAR INC 114,128 10,131,000 0.38%
93 COMCAST CORP NEW 150,479 9,983,000 0.38%
94 PIONEER NAT RES CO 53,168 9,871,000 0.37%
95 SELECT SECTOR SPDR TR 136,489 9,637,000 0.36%
96 MORGAN STANLEY 281,999 9,041,000 0.34%
97 DANAHER CORP DEL 115,004 9,015,000 0.34%
98 COSTCO WHSL CORP NEW 57,868 8,825,000 0.33%
99 S&P GLOBAL INC 66,722 8,444,000 0.32%
100 ORACLE CORPORATION 212,194 8,335,000 0.31%
Page 2 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001221362-16-000021, filed 2016.11.14).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.