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 (2016Q4)
Original 13F HR (0001443095-17-000001) filed in 2017.02.09
#
Name
Shares
Value ($)
%
Options
Notes
51 FACEBOOK INC 1,522 175 0.03% SH
52 FISERV INC 1,000 106 0.02% SH
53 GALLAGHER ARTHUR J & CO 302,219 15,703 3.07% SH
54 GENERAL ELECTRIC CO 13,027 412 0.08% SH
55 GENERAL MLS INC 227,945 14,080 2.75% SH
56 GILEAD SCIENCES INC 2,605 187 0.04% SH
57 GOLDMAN SACHS GROUP INC 1,256 301 0.06% SH
58 GOOGLE INC 174 134 0.03% SH
59 Goldman Sachs Group 6,925 175 0.03% SH
60 HALLIBURTON CO 3,220 174 0.03% SH
61 HOME DEPOT INC 117,002 15,688 3.07% SH
62 INTEL CORP 452,832 16,424 3.21% SH
63 INTERNATIONAL BUSINESS MACHS 91,655 15,214 2.97% SH
64 ISHARES NASDAQ BIOTECHNOLOGY ETF 354 281 0.05% SH
65 ISHARES TR 4,829 696 0.14% SH
66 JOHNSON & JOHNSON 137,217 15,809 3.09% SH
67 JPMORGAN CHASE & CO 4,871 420 0.08% SH
68 JPMorgan Chase & Co 7,267 179 0.03% SH
69 KELLOGG CO 4,248 313 0.06% SH
70 KIMBERLY CLARK CORP 113,400 12,941 2.53% SH
71 KINDER MORGAN INC DEL 12,756 264 0.05% SH
72 KRAFT HEINZ CO 7,573 661 0.13% SH
73 LEGGETT &PLATT INC 304,209 14,870 2.91% SH
74 LOCKHEED MARTIN CORP 63,967 15,988 3.13% SH
75 MASTERCARD INCORPORATED 1,605 166 0.03% SH
76 MCDONALDS CORP 122,734 14,939 2.92% SH
77 MCKESSON CORP 773 109 0.02% SH
78 MICROSOFT CORP 19,288 1,199 0.23% SH
79 Merck & Co., Inc. 7,832 461 0.09% SH
80 NEXTERA ENERGY INC 120,930 14,446 2.82% SH
81 NORFOLK SOUTHERN CORP 1,337 144 0.03% SH
82 NORTHROP GRUMMAN CORP 2,570 598 0.12% SH
83 NOVARTIS A G 167,956 12,234 2.39% SH
84 NUCOR CORP 2,256 134 0.03% SH
85 NVIDIA CORPORATION 1,488 159 0.03% SH
86 ORACLE CORP 3,576 138 0.03% SH
87 PAYCHEX INC 260,995 15,889 3.11% SH
88 PEOPLES UNITED FINANCIAL INC 5,261 102 0.02% SH
89 PEPSICO INC 145,899 15,265 2.98% SH
90 PFIZER INC 7,728 251 0.05% SH
91 PHILIP MORRIS INTL INC 6,682 611 0.12% SH
92 PHILLIPS 66 6,815 589 0.12% SH
93 POWERSHARES ETF TR II 4,349 117 0.02% SH
94 POWERSHARES ETF TR II 5,822 106 0.02% SH
95 POWERSHARES ETF TRUST 9,220 918 0.18% SH
96 POWERSHARES ETF TRUST 2,896 109 0.02% SH
97 POWERSHARES ETF TRUST 3,511 405 0.08% SH
98 PPG INDS INC 3,312 314 0.06% SH
99 PROASSURANCE CORP COM 25,073 1,409 0.28% SH
100 PROCTER AND GAMBLE CO 179,872 15,124 2.96% SH
Page 2 of 3