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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 (2016Q4)
Portfolio Summary: 61 holdings with a total value of $386,552,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 BERKSHIRE HATHAWAY INC DEL 137,550 22,417,000 5.80%
2 ALPHABET INC 24,329 18,777,000 4.86%
3 MICROSOFT CORP 295,075 18,335,000 4.74%
4 AMAZON COM INC 23,283 17,459,000 4.52%
5 GENERAL ELECTRIC CO 535,786 16,930,000 4.38%
6 VISA INC 216,454 16,887,000 4.37%
7 WELLS FARGO & CO NEW 296,992 16,367,000 4.23%
8 PROCTER AND GAMBLE CO 194,540 16,356,000 4.23%
9 BANK AMER CORP 721,188 15,938,000 4.12%
10 CITIGROUP INC 257,847 15,323,000 3.96%
11 WAL-MART STORES INC 215,155 14,871,000 3.85%
12 APPLE INC 118,407 13,713,000 3.55%
13 EMERSON ELEC CO 234,777 13,088,000 3.39%
14 GILEAD SCIENCES INC 182,400 13,061,000 3.38%
15 US BANCORP DEL 242,179 12,440,000 3.22%
16 UNION PAC CORP 108,397 11,238,000 2.91%
17 CISCO SYS INC 324,826 9,816,000 2.54%
18 PFIZER INC 284,039 9,225,000 2.39%
19 MONSANTO CO NEW 68,993 7,258,000 1.88%
20 JOHNSON & JOHNSON 62,919 7,248,000 1.88%
21 ORACLE CORP 185,272 7,123,000 1.84%
22 COACH INC 200,171 7,010,000 1.81%
23 QUALCOMM INC 106,947 6,972,000 1.80%
24 ALLERGAN PLC 31,881 6,695,000 1.73%
25 FOSSIL GROUP INC 257,114 6,648,000 1.72%
26 PEPSICO INC 45,525 4,763,000 1.23%
27 INTERNATIONAL BUSINESS MACHS 28,688 4,761,000 1.23%
28 ISHARES TR 42,218 4,562,000 1.18%
29 POLARIS INDS INC 53,707 4,424,000 1.14%
30 AUTOMATIC DATA PROCESSING IN 42,119 4,329,000 1.12%
31 C.H. ROBINSON WORLDW 53,338 3,907,000 1.01%
32 AMERICAN EXPRESS CO 51,549 3,818,000 0.99%
33 PIMCO ETF TRUST 1-5 US TIP IDX ETF 61,597 3,231,000 0.84%
34 CUMMINS INC 21,394 2,923,000 0.76%
35 MERCK & CO INC 46,363 2,729,000 0.71%
36 MCDONALDS CORP 18,976 2,309,000 0.60%
37 FASTENAL CO 40,304 1,893,000 0.49%
38 VANGUARD BD INDEX FDS 23,323 1,853,000 0.48%
39 BIOGEN INC 6,383 1,810,000 0.47%
40 BECTON DICKINSON & CO 10,707 1,772,000 0.46%
41 COLGATE PALMOLIVE CO 25,318 1,656,000 0.43%
42 BORGWARNER INC 39,929 1,574,000 0.41%
43 CERNER CORP 32,014 1,516,000 0.39%
44 TIFFANY 18,466 1,429,000 0.37%
45 VANGUARD INTL EQUITY INDEX F 26,618 1,175,000 0.30%
46 UNITED TECHNOLOGIES CORP 9,941 1,089,000 0.28%
47 YUM BRANDS INC 17,139 1,085,000 0.28%
48 VANGUARD INDEX FDS 7,391 953,000 0.25%
49 VANGUARD MALVERN FDS 17,807 875,000 0.23%
50 PRICE T ROWE GROUP INC 11,341 853,000 0.22%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001269134-17-000001, filed 2017.01.18).

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.