ALBION FINANCIAL GROUP /UT Q4 2017 Filing

Filed February 22, 2018

Portfolio Value

$656.7M

Holdings

195

Report Date

Q4 2017

Filing Type

13F-HR

All Holdings (195 positions)

#	Stock	Shares	Value	% Portfolio
1	VOOVanguard S&P 500	223,658	$54.9M	8.35%
2	IWRiShares Russell Midcap	193,053	$40.2M	6.12%
3	VEUVanguard FTSE All-World ex-US	528,666	$28.9M	4.41%
4	GEGeneral Electric Company	1,449,783	$25.3M	3.85%
5	VWOVanguard MSCI Emerging Markets	495,111	$22.7M	3.46%
6	XLFSPDR Financial Select	741,068	$20.7M	3.15%
7	IJRiShares Core S&P Small-Cap	262,955	$20.2M	3.08%
8	METAFacebook, Inc. cl A	85,743	$15.1M	2.30%
9	AAPLApple Inc.	89,230	$15.1M	2.30%
10	MSFTMicrosoft Corporation	163,931	$14.0M	2.14%
11	VCSHVanguard Short-Term Cor. Bond	172,167	$13.7M	2.08%
12	JPMJPMorgan Chase & Co	122,061	$13.1M	1.99%
13	FMUSDiShares MSCI Frontier 100 Fund	392,009	$13.0M	1.98%
14	THOThor Industries Inc.	84,822	$12.8M	1.95%
15	XLESPDR Energy Sel Sectr	172,397	$12.5M	1.90%
16	HDHome Depot Inc.	61,485	$11.7M	1.77%
17	GOOGLAlphabet Inc. Class A	10,930	$11.5M	1.75%
18	BRK/BBerkshire Hathaway CL B	56,104	$11.1M	1.69%
19	VVISA Inc.	91,667	$10.5M	1.59%
20	SPYSPDR S&P 500 ETF Trust	38,946	$10.4M	1.58%
21	IBBiShares Nasdaq Biotech	96,835	$10.3M	1.57%
22	XLFIReal Estate Select Sector SPDR	287,835	$9.5M	1.44%
23	KEYKeyCorp	459,813	$9.3M	1.41%
24	AMZNAmazon.com Inc.	7,843	$9.2M	1.40%
25	DISWalt Disney Company	84,599	$9.1M	1.38%
26	HONHoneywell Intl Inc	56,436	$8.7M	1.32%
27	TOTLSPDR Doubleline Total Return T	175,755	$8.5M	1.30%
28	CELGCelgene Corp.	68,959	$7.2M	1.10%
29	FISVFiserv Inc.	52,201	$6.8M	1.04%
30	CSCOCisco Systems Inc.	176,917	$6.8M	1.03%
31	MCDMcDonald's Corp.	31,736	$5.5M	0.83%
32	DGRWWisdom Tree US Div Growth Fund	128,383	$5.3M	0.81%
33	COHREURCoherent Inc.	18,723	$5.3M	0.80%
34	LMTLockheed Martin Corp.	13,988	$4.5M	0.68%
35	CLXClorox Company	30,037	$4.5M	0.68%
36	EDConsolidated Edison, Inc.	52,422	$4.5M	0.68%
37	IPInternational Paper Co.	76,405	$4.4M	0.67%
38	SDYSPDR S&P Dividend	45,321	$4.3M	0.65%
39	KMBKimberly-Clark Corp.	33,233	$4.0M	0.61%
40	KHCKraft Heinz Company	48,950	$3.8M	0.58%
41	JNJJohnson & Johnson	26,865	$3.8M	0.57%
42	UNPUnion Pacific Corp.	27,356	$3.7M	0.56%
43	MRKMerck & Co. Inc.	60,852	$3.4M	0.52%
44	R6C2Royal Dutch Shell B	48,715	$3.3M	0.51%
45	INTCIntel Corporation	71,461	$3.3M	0.50%
46	IJHiShares Core S&P Mid-Cap	17,088	$3.2M	0.49%
47	BMYBristol-Myers Squibb Co.	51,503	$3.2M	0.48%
48	BACVerizon Communications, Inc.	58,823	$3.1M	0.47%
49	SCHMSchwab US Mid Cap	58,422	$3.1M	0.47%
50	QCOMQualcomm Inc.	46,627	$3.0M	0.45%
51	—Pshrs FTSE RAFI 1500 Sm Mid	22,965	$3.0M	0.45%
52	TTENTotal SA ADR	53,395	$3.0M	0.45%
53	TAT&T Inc.	71,310	$2.8M	0.42%
54	COSTCostco Wholesale Corp	14,183	$2.6M	0.40%
55	LEGLeggett & Platt Inc.	53,409	$2.5M	0.39%
56	HASHasbro Inc.	27,328	$2.5M	0.38%
57	DFEOXDFA US Core Equity	101,252	$2.3M	0.35%
58	SCHGSchwab US Large Cap Growth ETF	31,689	$2.2M	0.34%
59	FQIDigital Realty Trust Inc	19,661	$2.2M	0.34%
60	XOMExxon Mobil Corporation	26,687	$2.2M	0.34%
61	ONEQFidelity Nasdaq Composite Inde	7,663	$2.1M	0.32%
62	AQLTiShares Select Dividend	20,259	$2.0M	0.30%
63	—DowDuPont Inc.	27,809	$2.0M	0.30%
64	SYYSysco Corporation	32,570	$2.0M	0.30%
65	IUSGiShares Core Russell U.S. Grow	33,877	$1.8M	0.28%
66	—Guggenheim Timber	57,000	$1.8M	0.28%
67	DGROiShares Core Dividend Growth	50,781	$1.8M	0.27%
68	DWDMorgan Stanley	30,786	$1.6M	0.25%
69	EWHiShares MSCI Hong Kong	63,000	$1.6M	0.24%
70	—Guggenheim S&P 500 Equal Weigh	10,953	$1.6M	0.24%
71	WRUSDWestar Energy Inc	29,270	$1.5M	0.24%
72	FBNDXFidelity Investment Grade	194,267	$1.5M	0.23%
73	—PowerShares QQQ Trust Sr 1	9,771	$1.5M	0.23%
74	—Accelerate Diagnostics, Inc.	56,978	$1.5M	0.23%
75	VFIDXVanguard Intermediate-Term Inv	152,361	$1.5M	0.23%
76	GISGeneral Mills Inc.	24,613	$1.5M	0.22%
77	WFCWells Fargo & Co	23,500	$1.4M	0.22%
78	—VanEck Vectors Biotech ETF	11,264	$1.4M	0.21%
79	DFIEXDFA International Core Equity	91,428	$1.3M	0.20%
80	DFEQXDFA Short Term Extended Qualit	116,655	$1.3M	0.19%
81	ADBEAdobe Systems Inc.	6,692	$1.2M	0.18%
82	EWCiShares MSCI Canada	39,000	$1.2M	0.18%
83	—Wisdomtree Emerging Markets Sm	21,595	$1.1M	0.17%
84	AEPAmerican Electric Power	15,310	$1.1M	0.17%
85	MDTMedtronic Plc	13,781	$1.1M	0.17%
86	FLPSXFidelity Low Price Stock AD	20,232	$1.1M	0.17%
87	EWSiShares MSCI Singapore	42,270	$1.1M	0.17%
88	VASVXVanguard Selected Value Fund	34,504	$1.1M	0.16%
89	FCNTXFidelity Contrafund	8,782	$1.1M	0.16%
90	OAKMXOakmark Fund	12,457	$1.1M	0.16%
91	DFTEXDFA Intermediate Term Extended	95,523	$1.0M	0.16%
92	RPRealpage Inc.	23,092	$1.0M	0.16%
93	CHKPCheck Point Software	9,511	$986K	0.15%
94	VWNFXVanguard Windsor II Fund	25,668	$971K	0.15%
95	KOCoca-Cola Company	20,461	$939K	0.14%
96	EWAiShares MSCI Australia Index F	38,972	$903K	0.14%
97	PFEPfizer Inc.	24,924	$903K	0.14%
98	—Guggenheim S&P Midcap 400 Pure	5,613	$865K	0.13%
99	DFFVXDFA US Targeted Value Fund	34,248	$852K	0.13%
100	AMATApplied Materials Inc.	16,639	$851K	0.13%

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