Dark
Light
System
Institutional Investment Manager
Welch Group, LLC
Welch Group, LLC (CIK: 0001443095) incorporated in Alabama, located at 3940 Montclair Road, Fifth Floor, Birmingham, AL. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q2)
Portfolio Summary: 143 holdings with a total value of $482,898,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 EXXON MOBIL CORP 169,221 17,037,000 3.53%
2 INTEL CORP 512,391 15,833,000 3.28%
3 CONOCOPHILLIPS 182,572 15,652,000 3.24%
4 ABBVIE INC 264,113 14,907,000 3.09%
5 LOCKHEED MARTIN CORP 92,380 14,848,000 3.07%
6 JOHNSON & JOHNSON 141,521 14,806,000 3.07%
7 NEXTERA ENERGY INC 144,253 14,783,000 3.06%
8 CHEVRON CORP NEW 111,660 14,577,000 3.02%
9 SOUTHERN CO 314,601 14,277,000 2.96%
10 3M CO 98,988 14,179,000 2.94%
11 NOVARTIS A G 155,595 14,086,000 2.92%
12 PEPSICO INC 157,389 14,061,000 2.91%
13 AT&T INC 392,252 13,870,000 2.87%
14 UNITED TECHNOLOGIES CORP 119,460 13,792,000 2.86%
15 HOME DEPOT INC 167,997 13,601,000 2.82%
16 DU PONT E I DE NEMOURS & CO 207,397 13,572,000 2.81%
17 LEGGETT &PLATT INC 394,930 13,538,000 2.80%
18 VERIZON COMMUNICATIONS INC 274,941 13,453,000 2.79%
19 EMERSON ELEC CO 202,609 13,445,000 2.78%
20 COLGATE PALMOLIVE CO 197,111 13,439,000 2.78%
21 MCDONALDS CORP 131,142 13,211,000 2.74%
22 KIMBERLY CLARK CORP 118,025 13,127,000 2.72%
23 GENERAL MLS INC 247,141 12,985,000 2.69%
24 CONSOLIDATED EDISON INC 221,175 12,771,000 2.64%
25 PROCTER AND GAMBLE CO 162,224 12,749,000 2.64%
26 PAYCHEX INC 305,464 12,695,000 2.63%
27 ARTHUR J GALLAGHER 272,172 12,683,000 2.63%
28 CINCINNATI FIN 262,317 12,602,000 2.61%
29 UNILEVER PLC 244,365 11,075,000 2.29%
30 ROYAL DUTCH SHELL PLC 116,631 9,607,000 1.99%
31 ROYAL DUTCH SHELL PLC 62,303 5,421,000 1.12%
32 ENERGEN CORP COM 55,905 4,969,000 1.03%
33 VULCAN MATLS CO 50,081 3,193,000 0.66%
34 COCA COLA CO 62,403 2,643,000 0.55%
35 UNILEVER N V 57,142 2,501,000 0.52%
36 TORCHMARK CORP 30,479 2,497,000 0.52%
37 VANGUARD INTL EQUITY INDEX F 57,222 2,468,000 0.51%
38 VANGUARD TAX-MANAGED FDS 57,307 2,441,000 0.51%
39 SERVISFIRST BANCSHARES INC COM 26,000 2,247,000 0.47%
40 VANGUARD INDEX FDS 25,539 2,241,000 0.46%
41 POWERSHARES QQQ TRUST 23,822 2,237,000 0.46%
42 PROTECTIVE LIFE CO 27,372 1,898,000 0.39%
43 PROASSURANCE CORP COM 38,172 1,695,000 0.35%
44 PHILIP MORRIS INTL INC 17,256 1,455,000 0.30%
45 APPLE COMPUTER INC 15,436 1,434,000 0.30%
46 Berkshire Hathaway Cl B 11,215 1,419,000 0.29%
47 Streettracks Gold TRUST 9,168 1,174,000 0.24%
48 Merck & Co., Inc. 18,128 1,049,000 0.22%
49 CATERPILLAR INC 8,935 971,000 0.20%
50 REGIONS FINANCIAL CORP NEW 81,571 866,000 0.18%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001443095-14-000003, filed 2014.07.22).

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.