ALBION FINANCIAL GROUP /UT Q1 2017 Filing

Filed May 15, 2017

Portfolio Value

$666.2B

Holdings

193

Report Date

Q1 2017

Filing Type

13F-HR

All Holdings (193 positions)

#	Stock	Shares	Value	% Portfolio
1	—Valspar Corporation	690,848	$76.6B	11.50%
2	GEGeneral Electric Company	2,053,381	$61.2B	9.18%
3	VOOVanguard S&P 500	206,861	$44.8B	6.72%
4	IWRiShares Russell Midcap	187,438	$35.1B	5.27%
5	VEUVanguard FTSE All-World ex-US	408,374	$19.5B	2.93%
6	VWOVanguard MSCI Emerging Markets	473,027	$18.8B	2.82%
7	XLFSPDR Financial Select	740,458	$17.6B	2.64%
8	IJRiShares Core S&P Small-Cap	252,085	$17.4B	2.62%
9	AAPLApple Inc.	92,653	$13.3B	2.00%
10	XLESPDR Energy Sel Sectr	188,305	$13.2B	1.98%
11	MSFTMicrosoft Corporation	173,441	$11.4B	1.71%
12	METAFacebook, Inc. cl A	78,907	$11.2B	1.68%
13	JPMJPMorgan Chase & Co	125,859	$11.1B	1.66%
14	VCSHVanguard Short-Term Cor. Bond	135,044	$10.8B	1.62%
15	DISWalt Disney Company	85,860	$9.7B	1.46%
16	HDHome Depot Inc.	63,640	$9.3B	1.40%
17	FMUSDiShares MSCI Frontier 100 Fund	331,298	$9.2B	1.38%
18	SPYSPDR S&P 500 ETF Trust	38,927	$9.2B	1.38%
19	CELGCelgene Corp.	72,010	$9.0B	1.34%
20	IBBiShares Nasdaq Biotech	29,769	$8.7B	1.31%
21	GOOGLAlphabet Inc. Class A	10,250	$8.7B	1.30%
22	THOThor Industries Inc.	89,104	$8.6B	1.29%
23	VVISA Inc.	95,546	$8.5B	1.27%
24	KEYKeyCorp	471,850	$8.4B	1.26%
25	BRK/BBerkshire Hathaway CL B	49,734	$8.3B	1.24%
26	XLFIReal Estate Select Sector SPDR	255,563	$8.1B	1.21%
27	—Allergan Plc	32,998	$7.9B	1.18%
28	AMZNAmazon.com Inc.	8,070	$7.2B	1.07%
29	FISVFiserv Inc.	53,081	$6.1B	0.92%
30	CSCOCisco Systems Inc.	178,062	$6.0B	0.90%
31	KMBKimberly-Clark Corp.	37,068	$4.9B	0.73%
32	TOTLSPDR Doubleline Total Return T	98,070	$4.8B	0.72%
33	HONHoneywell Intl Inc	37,434	$4.7B	0.70%
34	CLXClorox Company	34,014	$4.6B	0.69%
35	MRKMerck & Co. Inc.	67,837	$4.3B	0.65%
36	KHCKraft Heinz Company	46,163	$4.2B	0.63%
37	MCDMcDonald's Corp.	31,408	$4.1B	0.61%
38	LMTLockheed Martin Corp.	13,344	$3.6B	0.54%
39	IPInternational Paper Co.	66,635	$3.4B	0.51%
40	EDConsolidated Edison, Inc.	43,534	$3.4B	0.51%
41	XOMExxon Mobil Corporation	38,169	$3.1B	0.47%
42	IJHiShares Core S&P Mid-Cap	18,114	$3.1B	0.47%
43	BACVerizon Communications, Inc.	59,612	$2.9B	0.44%
44	SCHMSchwab US Mid Cap	60,632	$2.9B	0.43%
45	JNJJohnson & Johnson	22,802	$2.8B	0.43%
46	HASHasbro Inc.	27,602	$2.8B	0.41%
47	DGRWWisdom Tree US Div Growth Fund	76,928	$2.7B	0.41%
48	—Pshrs FTSE RAFI 1500 Sm Mid	22,965	$2.7B	0.40%
49	UNPUnion Pacific Corp.	24,923	$2.6B	0.40%
50	LEGLeggett & Platt Inc.	50,620	$2.5B	0.38%
51	QCOMQualcomm Inc.	39,513	$2.3B	0.34%
52	TTENTotal SA ADR	43,630	$2.2B	0.33%
53	TAT&T Inc.	52,598	$2.2B	0.33%
54	INTCIntel Corporation	59,119	$2.1B	0.32%
55	R6C2Royal Dutch Shell B	37,237	$2.1B	0.31%
56	FQIDigital Realty Trust Inc	19,146	$2.0B	0.31%
57	SCHGSchwab US Large Cap Growth ETF	33,533	$2.0B	0.30%
58	DFEOXDFA US Core Equity	97,754	$2.0B	0.30%
59	GISGeneral Mills Inc.	33,271	$2.0B	0.29%
60	ONEQFidelity Nasdaq Composite Inde	8,076	$1.9B	0.28%
61	IUSGiShares Core Russell U.S. Grow	35,525	$1.6B	0.25%
62	WRUSDWestar Energy Inc	29,695	$1.6B	0.24%
63	DGROiShares Core Dividend Growth	52,004	$1.6B	0.24%
64	SYYSysco Corporation	29,916	$1.6B	0.23%
65	—VanEck Vectors Biotech ETF	12,844	$1.5B	0.23%
66	—Guggenheim Timber	57,000	$1.5B	0.23%
67	FBNDXFidelity Investment Grade	191,199	$1.5B	0.22%
68	VFIDXVanguard Intermediate-Term Inv	152,361	$1.5B	0.22%
69	EWHiShares MSCI Hong Kong	64,496	$1.4B	0.22%
70	—Guggenheim S&P 500 Equal Weigh	11,846	$1.4B	0.21%
71	—Accelerate Diagnostics, Inc.	58,278	$1.4B	0.21%
72	BMYBristol-Myers Squibb Co.	24,448	$1.3B	0.20%
73	WFCWells Fargo & Co	23,500	$1.3B	0.20%
74	—PowerShares QQQ Trust Sr 1	9,857	$1.3B	0.20%
75	TJXTJX Companies Inc.	15,070	$1.2B	0.18%
76	DFEQXDFA Short Term Extended Qualit	109,369	$1.2B	0.18%
77	MMM3M Company	5,878	$1.1B	0.17%
78	DFIEXDFA International Core Equity	89,360	$1.1B	0.17%
79	MDTMedtronic Plc	13,781	$1.1B	0.17%
80	COHREURCoherent Inc.	5,206	$1.1B	0.16%
81	VASVXVanguard Selected Value Fund	34,504	$1.1B	0.16%
82	EWCiShares MSCI Canada	39,000	$1.0B	0.16%
83	FLPSXFidelity Low Price Stock AD	20,232	$1.0B	0.16%
84	CHKPCheck Point Software	10,103	$1.0B	0.16%
85	ADBEAdobe Systems Inc.	7,947	$1.0B	0.16%
86	AEPAmerican Electric Power	15,310	$1.0B	0.15%
87	KOCoca-Cola Company	23,154	$983.0M	0.15%
88	—Wisdomtree Emerging Markets Sm	21,595	$969.0M	0.15%
89	EWSiShares MSCI Singapore	42,270	$964.0M	0.14%
90	DFTEXDFA Intermediate Term Extended	89,531	$952.0M	0.14%
91	FCNTXFidelity Contrafund	8,782	$946.0M	0.14%
92	VWNFXVanguard Windsor II Fund	25,668	$945.0M	0.14%
93	SBUXStarbucks Corporation	16,157	$943.0M	0.14%
94	OAKMXOakmark Fund	12,457	$940.0M	0.14%
95	SDYSPDR S&P Dividend	10,605	$935.0M	0.14%
96	PFEPfizer Inc.	26,862	$919.0M	0.14%
97	PGProcter & Gamble Co.	9,838	$884.0M	0.13%
98	EWAiShares MSCI Australia Index F	38,670	$874.0M	0.13%
99	—Guggenheim S&P Midcap 400 Pure	6,121	$830.0M	0.12%
100	—Dow Chemical Company	12,947	$823.0M	0.12%

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