Instuitional Investor - Welch Group, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Apple Inc.	AAPL	372,791	$107,870,865	3.68%
2.	Cisco Systems Inc.	CSCO	906,782	$106,510,665	3.64%
3.	Abbvie Inc.	ABBV	371,366	$93,450,655	3.19%
4.	Jpmorgan Chase & Co	JPM	276,835	$90,616,273	3.09%
5.	Johnson & Johnson	JNJ	356,484	$90,536,318	3.09%