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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 (2016Q1)
Portfolio Summary: 149 holdings with a total value of $598,881,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 SOUTHERN CO 394,406 20,403,000 3.41%
2 HOME DEPOT INC 148,875 19,864,000 3.32%
3 MCDONALDS CORP 156,850 19,713,000 3.29%
4 AT&T INC 497,637 19,492,000 3.25%
5 CONSOLIDATED EDISON INC 254,009 19,462,000 3.25%
6 CINCINNATI FIN 297,543 19,447,000 3.25%
7 VERIZON COMMUNICATIONS INC 350,999 18,982,000 3.17%
8 KIMBERLY CLARK CORP 140,794 18,938,000 3.16%
9 LOCKHEED MARTIN CORP 85,218 18,876,000 3.15%
10 EXXON MOBIL CORP 225,376 18,839,000 3.15%
11 NEXTERA ENERGY INC 158,522 18,759,000 3.13%
12 JOHNSON & JOHNSON 171,135 18,517,000 3.09%
13 GENERAL MLS INC 290,126 18,379,000 3.07%
14 LEGGETT &PLATT INC 378,996 18,343,000 3.06%
15 PEPSICO INC 178,266 18,269,000 3.05%
16 PAYCHEX INC 336,069 18,151,000 3.03%
17 3M CO 107,450 17,904,000 2.99%
18 COLGATE PALMOLIVE CO 243,942 17,234,000 2.88%
19 INTEL CORP 531,113 17,182,000 2.87%
20 PROCTER AND GAMBLE CO 208,463 17,159,000 2.87%
21 CHEVRON CORP NEW 179,441 17,119,000 2.86%
22 EMERSON ELEC CO 311,485 16,939,000 2.83%
23 DU PONT E I DE NEMOURS & CO 267,127 16,914,000 2.82%
24 UNITED TECHNOLOGIES CORP 164,728 16,489,000 2.75%
25 ABBVIE INC 284,540 16,253,000 2.71%
26 ARTHUR J GALLAGHER 364,789 16,226,000 2.71%
27 UNILEVER PLC 320,349 14,473,000 2.42%
28 NOVARTIS A G 186,356 13,500,000 2.25%
29 INTERNATIONAL BUSINESS MACHS 86,017 13,027,000 2.18%
30 SERVISFIRST BANCSHARES INC COM 190,853 8,474,000 1.41%
31 ROYAL DUTCH SHELL PLC 157,072 7,610,000 1.27%
32 ROYAL DUTCH SHELL PLC 147,629 7,262,000 1.21%
33 COCA COLA CO 64,941 3,013,000 0.50%
34 VULCAN MATLS CO 27,498 2,903,000 0.48%
35 TORCHMARK CORP 49,014 2,655,000 0.44%
36 UNILEVER N V 56,122 2,508,000 0.42%
37 PROASSURANCE CORP COM 46,489 2,352,000 0.39%
38 ISHARES TR 18,956 2,097,000 0.35%
39 POWERSHARES QQQ TRUST 19,150 2,091,000 0.35%
40 ISHARES TR 59,561 2,040,000 0.34%
41 PIMCO ETF TR 19,970 2,013,000 0.34%
42 PHILIP MORRIS INTL INC 19,303 1,894,000 0.32%
43 APPLE COMPUTER INC 16,531 1,802,000 0.30%
44 ENERGEN CORP COM 42,964 1,572,000 0.26%
45 Berkshire Hathaway Cl B 9,307 1,320,000 0.22%
46 ALTRIA GROUP INC 16,664 1,044,000 0.17%
47 Streettracks Gold TRUST 8,721 1,026,000 0.17%
48 Synovus Financial Corp 34,848 1,007,000 0.17%
49 Merck & Co., Inc. 17,934 949,000 0.16%
50 POWERSHARES N/C 6/4/18 46137V613 12,591 948,000 0.16%
Page 1 of 3

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001443095-16-000007, filed 2016.05.05).

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.