Kelman-Lazarov, Inc. Q4 2017 Filing

Filed January 23, 2018

Portfolio Value

$208.8M

Holdings

120

Report Date

Q4 2017

Filing Type

13F-HR

All Holdings (120 positions)

#	Stock	Shares	Value	% Portfolio
1	YUMYum Brands Inc	19,088	$15.6M	7.46%
2	—Berkshire Hathaway	56,948	$11.3M	5.41%
3	MOATMarket Vectors Etf Tr Mkt Vectors Wide Moat Etf	252,613	$10.7M	5.13%
4	SCHZSch US Agg Bnd Etf	185,346	$9.6M	4.62%
5	FNDXSch Fnd US Lg Etf	232,403	$8.7M	4.17%
6	BRWTempleton Global Income Fund	1,108,933	$7.2M	3.43%
7	FDXFedEx Corp.	25,961	$6.5M	3.10%
8	—Revenueshares Etf Tr Large Cap Fd	114,900	$5.9M	2.83%
9	MSDMorgan Stanley Emerging Debt	513,847	$5.1M	2.46%
10	—Prudential Global Short Duration High Yield Fd Inc	340,169	$4.9M	2.35%
11	GOOGLGoogle Inc Cl A	4,034	$4.2M	2.03%
12	PGProcter & Gamble	43,427	$4.0M	1.91%
13	MAMastercard Inc Cl A Com	26,230	$4.0M	1.90%
14	WFCWells Fargo Co.	61,211	$3.7M	1.78%
15	VTVVanguard Index Fds Vanguard Value Etf	34,828	$3.7M	1.77%
16	SCHGSchw US Lcap Gro Etf	46,509	$3.3M	1.57%
17	VENVentas Inc Com	53,583	$3.2M	1.54%
18	MCRMFS Charter Income Trust	367,480	$3.1M	1.49%
19	IJRIshares Tr S&P SmCap 600	40,382	$3.1M	1.49%
20	MAAMid America Apt Communities	29,801	$3.0M	1.44%
21	SPYS&P Depositary Receipts	11,207	$3.0M	1.43%
22	EESWisdomtree Tr Smallcap Earnings Fd	79,417	$2.9M	1.38%
23	CVSCVS Corp.	37,871	$2.7M	1.31%
24	GAMGeneral American Investors	78,761	$2.7M	1.30%
25	ADXAdams Express	170,258	$2.6M	1.23%
26	SCHVSchw US Lcap Val Etf	43,822	$2.4M	1.15%
27	TYTri Continental Corp.	87,093	$2.3M	1.12%
28	TEITempleton Emerging Markets Income Fund	209,273	$2.3M	1.12%
29	CMPCompass Minerals	28,669	$2.1M	0.99%
30	BONDPIMCO Total Return ETF	19,430	$2.1M	0.99%
31	MDYMidCap SPDR Trust Unit Ser-1	5,903	$2.0M	0.98%
32	AAPLApple , Inc	11,735	$2.0M	0.95%
33	WMTWal Mart Stores Inc.	18,397	$1.8M	0.87%
34	—Macquarie Global Infrastructure Total Return Fd In	64,734	$1.7M	0.80%
35	MCXMcCormick & Co Inc Com Non Vtg	15,507	$1.6M	0.76%
36	VVisa Inc Cl A	13,742	$1.6M	0.75%
37	VIGVanguard Specialized Portfolios Dividend Appreciat	15,335	$1.6M	0.75%
38	ATOAtmos Energy Corp.	17,555	$1.5M	0.72%
39	BRK-B1/100 Berkshire Htwy Class A	500	$1.5M	0.71%
40	DISWalt Disney Co.	13,415	$1.4M	0.69%
41	CBRLCracker Barrel Old Ctry	8,837	$1.4M	0.67%
42	BIDUNBaidu Com Inc Spons Adr Repstg Ord Shs Cl A	5,970	$1.4M	0.67%
43	NSCNorfolk Southern Corp	9,385	$1.4M	0.65%
44	CCLCarnival Corp	19,125	$1.3M	0.61%
45	BAC F PERP EBank Amer Corp	53,150	$1.3M	0.61%
46	DBEFDbx Etf Tr X-Trackers Msci Eafe Hedged Equity Fd	39,750	$1.3M	0.60%
47	PKWUSDPowershares Exchange Traded Fd Tr Dynamic Buyback	21,250	$1.3M	0.60%
48	CLXClorox Co Com	7,750	$1.2M	0.55%
49	BKTBlackrock Income Trust	184,875	$1.1M	0.55%
50	VUGVanguard Growth Fund ETF	7,946	$1.1M	0.54%
51	XLKTechnology Select Sector Spdr	17,366	$1.1M	0.53%
52	IBBIshares Nasdaq Biotech	10,210	$1.1M	0.52%
53	—Monsanto Co New Com	9,226	$1.1M	0.52%
54	AIVLWisdomtree Tr Divid Top 100 Fd	11,713	$1.0M	0.50%
55	LOWLowes Cos Inc	9,991	$929K	0.44%
56	PEPPepsico Inc.	7,580	$909K	0.44%
57	YUMCYum China Holdings I	22,292	$892K	0.43%
58	—Aqua America Inc Com	22,618	$887K	0.42%
59	WELLHealth Care Reit	13,650	$870K	0.42%
60	AMTAmerican Tower Corp	6,030	$860K	0.41%
61	CNRCanadian Natl Ry Co	10,354	$854K	0.41%
62	KMXCarmax Inc	11,850	$760K	0.36%
63	MDLZMondelez Intl Inc Cl A	17,363	$743K	0.36%
64	JNJJohnson & Johnson	5,072	$709K	0.34%
65	GOOGGoogle Inc	673	$704K	0.34%
66	IYY*Ishares Tr Dow Jones US Total Mkt	5,268	$704K	0.34%
67	NFLXNetflix Com Inc	3,600	$691K	0.33%
68	SPGSimon Ppty Group	3,900	$670K	0.32%
69	PFEPfizer	18,134	$657K	0.31%
70	BLKCHFBlackrock Inc Com	1,269	$652K	0.31%
71	NVSNNovartis Ag Sponsored Adr	7,523	$631K	0.30%
72	RQICohen & Steers Quality Income Rlty Fd Inc Com	49,491	$626K	0.30%
73	KMBKimberly Clark Corp	5,180	$625K	0.30%
74	AMZNAmazon Com Inc	517	$605K	0.29%
75	—First Israel Fund	31,200	$599K	0.29%
76	HDHome Depot	3,141	$595K	0.28%
77	MUNIPIMCO Intermediate Muni Bond ETF	11,044	$593K	0.28%
78	MMM3m Co Com	2,355	$554K	0.27%
79	BSVVanguard Short-Term Bond	6,875	$544K	0.26%
80	STEWBoulder Growth & Income Fd Inc Com	48,800	$541K	0.26%
81	DLNWisdomtree Tr Largecap Divid Fd	5,854	$539K	0.26%
82	FEZSpdr Index Shs Fds Euro Stoxx 50 Etf	12,876	$524K	0.25%
83	DEODiageo Plc Sponsored Adr New	3,529	$515K	0.25%
84	ILCGIshares Tr Large Growth Index Fd	3,035	$475K	0.23%
85	VHTVanguard World Fds Vanguard Health Care Etf	3,013	$464K	0.22%
86	MRKMerck & Co Inc	6,713	$378K	0.18%
87	IWBIshares Tr Russell 1000 Index	2,522	$375K	0.18%
88	AXPAm Express Co.	3,652	$363K	0.17%
89	TDFTempleton Dragon Fund	16,700	$359K	0.17%
90	RGAReinsurance Group Amer Inc Com New	2,250	$351K	0.17%
91	GEGeneral Electric Co.	19,965	$348K	0.17%
92	GISGeneral Mls Inc	5,634	$334K	0.16%
93	NUVNuveen Municipal Value Fund	31,450	$319K	0.15%
94	SPTMSpdr Russell 3000 Etf	9,150	$304K	0.15%
95	IWDIShares Tr Russell 1000 Value	2,325	$289K	0.14%
96	IWFIShares Tr Russell 1000 Growth Index Fund	2,132	$287K	0.14%
97	ORCLOracle Corp	5,996	$283K	0.14%
98	AMGNAmgen Inc.	1,580	$275K	0.13%
99	UBNTEURUbiquiti Networks Inc Com	3,794	$269K	0.13%
100	TAt&T Inc	6,902	$268K	0.13%

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