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Institutional Investment Manager
HORAN CAPITAL MANAGEMENT
HORAN CAPITAL MANAGEMENT (CIK: 0001269134) incorporated in Maryland, located at 20 Wight Avenue, Hunt Valley, MD. Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 55 holdings with a total value of $376,765,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 Berkshire Hathaway Cl B 139,459 20,147,000 5.35%
2 Alphabet Inc Class C 24,667 19,173,000 5.09%
3 AMAZON COM INC 22,883 19,160,000 5.09%
4 PROCTER AND GAMBLE CO 201,379 18,073,000 4.80%
5 VISA INC 217,597 17,995,000 4.78%
6 MICROSOFT CORP 297,711 17,148,000 4.55%
7 GENERAL ELECTRIC CO 540,800 16,018,000 4.25%
8 WAL-MART STORES INC 214,034 15,436,000 4.10%
9 WELLS FARGO & CO NEW 297,363 13,167,000 3.49%
10 EMERSON ELEC CO 236,083 12,868,000 3.42%
11 APPLE COMPUTER INC 111,943 12,655,000 3.36%
12 CitigroupInc 258,969 12,231,000 3.25%
13 BANK AMERICA CORP 763,872 11,954,000 3.17%
14 US BANCORP DEL 259,144 11,114,000 2.95%
15 UNION PAC CORP 109,652 10,694,000 2.84%
16 CISCO SYS INC 334,229 10,601,000 2.81%
17 JOHNSON & JOHNSON 87,953 10,389,000 2.76%
18 PFIZER INC 278,926 9,447,000 2.51%
19 GILEAD SCIENCES INC 109,289 8,646,000 2.29%
20 COACH INC 208,468 7,621,000 2.02%
21 QUALCOMM INC 107,987 7,397,000 1.96%
22 ORACLE CORP 187,028 7,346,000 1.95%
23 MONSANTO CO NEW 69,124 7,064,000 1.87%
24 FOSSIL GROUP INC 251,535 6,985,000 1.85%
25 C.H. ROBINSON WORLDW 90,118 6,349,000 1.69%
26 Express Scripts, Inc. 84,165 5,936,000 1.58%
27 FASTENAL CO 137,762 5,755,000 1.53%
28 PEPSICO INC 46,966 5,108,000 1.36%
29 INTERNATIONAL BUSINESS MACHS 30,146 4,788,000 1.27%
30 ISHARES TR 40,571 4,560,000 1.21%
31 Auto Data Processing 43,989 3,879,000 1.03%
32 POLARIS INDS INC 46,505 3,601,000 0.96%
33 AMERICAN EXPRESS CO 49,707 3,183,000 0.84%
34 MERCK & CO INC 47,380 2,957,000 0.78%
35 CUMMINS INC 23,021 2,950,000 0.78%
36 PIMCO ETF TRUST 1-5 US TIP IDX ETF 46,684 2,459,000 0.65%
37 MCDONALDS CORP 19,829 2,287,000 0.61%
38 BIOGEN INC 6,674 2,089,000 0.55%
39 COLGATE PALMOLIVE CO 26,439 1,960,000 0.52%
40 Becton Dickinson & C 10,848 1,949,000 0.52%
41 YUM BRANDS INC 17,139 1,556,000 0.41%
42 EXXON MOBIL CORP 16,495 1,439,000 0.38%
43 TIFFANY 19,355 1,405,000 0.37%
44 VANGUARD BD INDEX FDS 16,266 1,314,000 0.35%
45 VANGUARD MALVERN FDS 25,273 1,254,000 0.33%
46 BorgWarner Inc. 32,704 1,150,000 0.31%
47 UNITED TECHNOLOGIES CORP 10,486 1,065,000 0.28%
48 VANGUARD INDEX FDS 7,339 896,000 0.24%
49 PRICE T ROWE GROUP INC 12,232 813,000 0.22%
50 WALGREENS BOOTS ALLIANCE INC 8,076 651,000 0.17%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001269134-16-000013, filed 2016.10.27).

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.