ALBION FINANCIAL GROUP /UT Q4 2016 Filing

Filed February 13, 2017

Portfolio Value

$588.9B

Holdings

185

Report Date

Q4 2016

Filing Type

13F-HR

All Holdings (185 positions)

#	Stock	Shares	Value	% Portfolio
1	—Valspar Corporation	1,217,016	$130.2B	22.12%
2	GEGeneral Electric Company	1,872,952	$59.5B	10.11%
3	—Allergan Plc	131,616	$35.3B	5.99%
4	CELGCelgene Corp.	155,267	$15.5B	2.64%
5	AAPLApple Inc.	141,075	$15.4B	2.61%
6	FISVFiserv Inc.	149,848	$15.4B	2.61%
7	AALAmerican Airlines Group Inc.	360,070	$14.8B	2.51%
8	NXPINXP Semiconductors NV	176,193	$14.3B	2.43%
9	HDHome Depot Inc.	103,036	$13.7B	2.33%
10	DISWalt Disney Company	116,784	$11.6B	1.97%
11	LEALear Corporation	104,155	$11.6B	1.97%
12	DHID.R. Horton Inc.	340,003	$10.3B	1.75%
13	FBINFortune Brands Hm & Sec.	173,744	$9.7B	1.65%
14	KEYKeyCorp	880,457	$9.7B	1.65%
15	GOOGLAlphabet Inc. Class A	12,392	$9.5B	1.61%
16	VVISA Inc.	112,510	$8.6B	1.46%
17	TJXTJX Companies Inc.	109,245	$8.6B	1.45%
18	TWTRUSDTwitter, Inc.	510,097	$8.4B	1.43%
19	VCSHVanguard Short-Term Cor. Bond	103,759	$8.3B	1.41%
20	SPYSPDR S&P 500 ETF Trust	39,175	$8.1B	1.37%
21	METAFacebook, Inc. cl A	53,930	$6.2B	1.04%
22	ACHCAcadia Healthcare Co.	94,104	$5.2B	0.88%
23	CLXClorox Company	39,193	$4.9B	0.84%
24	—Cynosure, Inc. cl A	108,925	$4.8B	0.82%
25	HCQAmn Healthcare Services Inc	137,209	$4.6B	0.78%
26	KMBKimberly-Clark Corp.	33,874	$4.6B	0.77%
27	EDConsolidated Edison, Inc.	59,009	$4.5B	0.77%
28	KHCKraft Heinz Company	49,753	$3.9B	0.66%
29	CSCOCisco Systems Inc.	136,158	$3.9B	0.66%
30	BACVerizon Communications, Inc.	65,038	$3.5B	0.60%
31	ZBRAZebra Technologies Corp	50,568	$3.5B	0.59%
32	XOMExxon Mobil Corporation	39,450	$3.3B	0.56%
33	GSKGlaxo Smithkline ADS	79,666	$3.2B	0.55%
34	MRKMerck & Co. Inc.	58,911	$3.1B	0.53%
35	TOTLSPDR Doubleline Total Return T	60,295	$3.0B	0.51%
36	IJHiShares Core S&P Mid-Cap	17,990	$2.6B	0.44%
37	GMGeneral Motors Company	73,613	$2.3B	0.39%
38	—Pshrs FTSE RAFI 1500 Sm Mid	23,295	$2.2B	0.37%
39	MSFTMicrosoft Corporation	39,002	$2.2B	0.37%
40	SCHMSchwab US Mid Cap	52,364	$2.1B	0.36%
41	—Powershares KBW Bank Portfolio	63,875	$2.1B	0.36%
42	WRUSDWestar Energy Inc	41,610	$2.1B	0.35%
43	LMTLockheed Martin Corp.	7,819	$1.7B	0.29%
44	JNJJohnson & Johnson	15,964	$1.7B	0.29%
45	DFEOXDFA US Core Equity	96,441	$1.7B	0.28%
46	TTENTotal SA ADR	36,238	$1.6B	0.28%
47	LEGLeggett & Platt Inc.	33,865	$1.6B	0.28%
48	IWRiShares Russell Midcap	9,954	$1.6B	0.28%
49	ONEQFidelity Nasdaq Composite Inde	8,009	$1.5B	0.26%
50	IPInternational Paper Co.	36,555	$1.5B	0.25%
51	VFIDXVanguard Intermediate-Term Inv	149,377	$1.5B	0.25%
52	FBNDXFidelity Investment Grade	190,202	$1.5B	0.25%
53	AEPAmerican Electric Power	21,981	$1.5B	0.25%
54	GISGeneral Mills Inc.	22,889	$1.4B	0.25%
55	AYIAcuity Brands, Inc.	6,544	$1.4B	0.24%
56	—PowerShares QQQ Trust Sr 1	12,822	$1.4B	0.24%
57	EUDGWisdom Tree Europe Hedged Equi	26,579	$1.4B	0.23%
58	HASHasbro Inc.	16,976	$1.4B	0.23%
59	FQIDigital Realty Trust Inc	15,121	$1.3B	0.23%
60	—Market Vectors Biotech	12,740	$1.3B	0.22%
61	—Guggenheim Timber	57,000	$1.3B	0.22%
62	MDTMedtronic Plc	17,180	$1.3B	0.22%
63	EWHiShares MSCI Hong Kong	64,496	$1.3B	0.22%
64	WFCWells Fargo & Co	26,350	$1.3B	0.22%
65	R6C2Royal Dutch Shell B	24,456	$1.2B	0.20%
66	—Wisdom Tree Intl Hedged Div Gr	44,934	$1.2B	0.20%
67	KOCoca-Cola Company	24,664	$1.1B	0.19%
68	UNPUnion Pacific Corp.	14,103	$1.1B	0.19%
69	DFIEXDFA International Core Equity	98,109	$1.1B	0.19%
70	SESpectra Energy Corp	35,004	$1.1B	0.18%
71	SYYSysco Corporation	22,333	$1.0B	0.18%
72	SBUXStarbucks Corporation	17,402	$1.0B	0.18%
73	—Accelerate Diagnostics, Inc.	70,593	$1.0B	0.17%
74	FLPSXFidelity Low Price Stock AD	20,753	$1.0B	0.17%
75	ADBEAdobe Systems Inc.	10,614	$996.0M	0.17%
76	VASVXVanguard Selected Value Fund	37,749	$988.0M	0.17%
77	MMM3M Company	5,862	$977.0M	0.17%
78	BRK/BBerkshire Hathaway CL B	6,671	$946.0M	0.16%
79	SNYSanofi ADS	23,429	$941.0M	0.16%
80	FCNTXFidelity Contrafund	9,724	$940.0M	0.16%
81	—Guggenheim S&P 500 Equal Weigh	9,910	$929.0M	0.16%
82	EWCiShares MSCI Canada	39,000	$925.0M	0.16%
83	DFEQXDFA Short Term Extended Qualit	85,007	$924.0M	0.16%
84	—iShares MSCI Singapore	84,540	$918.0M	0.16%
85	VWOVanguard MSCI Emerging Markets	26,155	$904.0M	0.15%
86	OAKMXOakmark Fund	14,461	$903.0M	0.15%
87	ETNEaton Corporation, plc	13,836	$866.0M	0.15%
88	VWNFXVanguard Windsor II Fund	25,748	$864.0M	0.15%
89	—Wisdomtree Emerging Markets Sm	22,156	$837.0M	0.14%
90	SDYSPDR S&P Dividend	10,363	$828.0M	0.14%
91	DGRWWisdom Tree US Div Growth Fund	26,183	$819.0M	0.14%
92	PFEPfizer Inc.	26,740	$793.0M	0.13%
93	CHKPCheck Point Software	8,987	$786.0M	0.13%
94	PGProcter & Gamble Co.	9,494	$781.0M	0.13%
95	INTCIntel Corporation	23,929	$774.0M	0.13%
96	DFTEXDFA Intermediate Term Extended	71,627	$774.0M	0.13%
97	EWAiShares MSCI Australia Index F	38,260	$739.0M	0.13%
98	DGROiShares Core Dividend Growth	27,927	$737.0M	0.13%
99	DFFVXDFA US Targeted Value Fund	34,169	$690.0M	0.12%
100	TSCOTractor Supply Co.	7,600	$687.0M	0.12%

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