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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 (2015Q4)
Portfolio Summary: 148 holdings with a total value of $556,925,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 Home Depot Inc 154,170 20,389,000 3.66%
2 MCDONALDS CORP 162,735 19,226,000 3.45%
3 LOCKHEED MARTIN CORP 86,790 18,846,000 3.38%
4 KIMBERLY CLARK CORP 144,142 18,349,000 3.29%
5 CINCINNATI FIN 305,885 18,099,000 3.25%
6 SOUTHERN CO 386,704 18,094,000 3.25%
7 PAYCHEX INC 336,657 17,806,000 3.20%
8 INTEL CORP 515,543 17,760,000 3.19%
9 PEPSICO INC 175,463 17,532,000 3.15%
10 JOHNSON & JOHNSON 168,171 17,275,000 3.10%
11 DU PONT E I DE NEMOURS & CO 259,141 17,259,000 3.10%
12 AT&T INC 497,042 17,103,000 3.07%
13 GENERAL MLS INC 291,601 16,814,000 3.02%
14 CONSOLIDATED EDISON INC 258,407 16,608,000 2.98%
15 NEXTERA ENERGY INC 159,758 16,597,000 2.98%
16 EXXON MOBIL CORP 208,323 16,239,000 2.92%
17 PROCTER AND GAMBLE CO 204,030 16,202,000 2.91%
18 ABBVIE INC 271,706 16,096,000 2.89%
19 VERIZON COMMUNICATIONS INC 347,742 16,073,000 2.89%
20 COLGATE PALMOLIVE CO 238,725 15,904,000 2.86%
21 3M CO 105,144 15,839,000 2.84%
22 LEGGETT &PLATT INC 376,732 15,830,000 2.84%
23 NOVARTIS A G 168,607 14,507,000 2.60%
24 UNITED TECHNOLOGIES CORP 150,404 14,449,000 2.59%
25 CHEVRON CORP NEW 158,750 14,281,000 2.56%
26 ARTHUR J GALLAGHER 333,648 13,660,000 2.45%
27 UNILEVER PLC 315,020 13,584,000 2.44%
28 EMERSON ELEC CO 283,156 13,543,000 2.43%
29 SERVISFIRST BANCSHARES INC COM 184,273 8,758,000 1.57%
30 INTERNATIONAL BUSINESS MACHS 62,851 8,650,000 1.55%
31 PIMCO ETF TR 61,541 6,192,000 1.11%
32 ROYAL DUTCH SHELL PLC 121,226 5,551,000 1.00%
33 ROYAL DUTCH SHELL PLC 106,303 4,894,000 0.88%
34 COCA COLA CO 64,766 2,782,000 0.50%
35 TORCHMARK CORP 47,225 2,699,000 0.48%
36 VULCAN MATLS CO 27,495 2,611,000 0.47%
37 SELECT SECTOR SPDR TR 42,952 2,591,000 0.47%
38 UNILEVER N V 57,007 2,470,000 0.44%
39 PROASSURANCE CORP COM 46,489 2,256,000 0.41%
40 ISHARES TR 10,878 2,229,000 0.40%
41 ENERGEN CORP COM 51,894 2,127,000 0.38%
42 SELECT SECTOR SPDR TR 47,350 2,028,000 0.36%
43 PHILIP MORRIS INTL INC 19,355 1,701,000 0.31%
44 APPLE COMPUTER INC 15,966 1,681,000 0.30%
45 Berkshire Hathaway Cl B 9,307 1,229,000 0.22%
46 Synovus Financial Corp 34,848 1,128,000 0.20%
47 Streettracks Gold TRUST 9,669 981,000 0.18%
48 ALTRIA GROUP INC 16,664 970,000 0.17%
49 Merck & Co., Inc. 18,121 957,000 0.17%
50 WELLS FARGO & CO NEW 17,121 931,000 0.17%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001443095-16-000005, filed 2016.01.21).

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.