Chief Investment Officer

0001221362-18-000002.txt : 20180214 0001221362-18-000002.hdr.sgml : 20180214 20180214142532 ACCESSION NUMBER: 0001221362-18-000002 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20171231 FILED AS OF DATE: 20180214 DATE AS OF CHANGE: 20180214 EFFECTIVENESS DATE: 20180214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AVALON ADVISORS, LLC CENTRAL INDEX KEY: 0001221362 IRS NUMBER: 760676982 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-10434 FILM NUMBER: 18610942 BUSINESS ADDRESS: STREET 1: 2929 ALLEN PARKWAY STREET 2: STE 3000 CITY: HOUSTON STATE: TX ZIP: 77019-7124 BUSINESS PHONE: 7132382050 MAIL ADDRESS: STREET 1: 2929 ALLEN PARKWAY STREET 2: STE 3000 CITY: HOUSTON STATE: TX ZIP: 77019-7124 FORMER COMPANY: FORMER CONFORMED NAME: AVALON ADVISORS. LLC DATE OF NAME CHANGE: 20081105 FORMER COMPANY: FORMER CONFORMED NAME: AVALON ADVISORS L P DATE OF NAME CHANGE: 20030303 13F-HR 1 primary_doc.xml 13F-HR LIVE false true false 0001221362 XXXXXXXX 12-31-2017 12-31-2017 AVALON ADVISORS, LLC

2929 ALLEN PARKWAY STE 3000 HOUSTON TX 77019-7124

13F HOLDINGS REPORT 028-10434 N Henry J. Lartigue Chief Investment Officer 713-238-2050 Henry J. Lartigue Houston TX 02-14-2018 0 349 3263505 false INFORMATION TABLE 2 inftable.xml 3M Co COM 88579Y101 21566 91627 SH SOLE 0 0 91627 ABB Ltd COM 000375204 4437 165450 SH SOLE 0 0 165450 Abbott Laboratories COM 002824100 247 4325 SH SOLE 0 0 4325 AbbVie Inc COM 00287Y109 32356 334568 SH SOLE 0 0 334568 Accenture PLC Ireland COM G1151C101 11623 75920 SH SOLE 0 0 75920 Adobe Systems Inc COM 00724F101 18755 107025 SH SOLE 0 0 107025 Advanced Micro Devices Inc COM 007903107 6986 679560 SH SOLE 0 0 679560 Akamai Technologies Inc COM 00971T101 223 3430 SH SOLE 0 0 3430 Alexandria Real Estate Equity COM 015271109 325 2486 SH SOLE 0 0 2486 Alibaba Group Holding Ltd COM 01609W102 1059 6142 SH SOLE 0 0 6142 Allergan PLC COM G0177J108 7454 45565 SH SOLE 0 0 45565 Alphabet Inc COM 02079K305 35646 33839 SH SOLE 0 0 33839 Altria Group Inc COM 02209S103 28286 396111 SH SOLE 0 0 396111 Amazon.com Inc COM 023135106 28017 23957 SH SOLE 0 0 23957 Ambev SA COM 02319V103 889 137642 SH SOLE 0 0 137642 American Tower Corp COM 03027X100 13468 94400 SH SOLE 0 0 94400 Ameriprise Financial Inc COM 03076C106 206 1218 SH SOLE 0 0 1218 Amgen Inc COM 031162100 24076 138445 SH SOLE 0 0 138445 Anadarko Petroleum Corp COM 032511107 6271 116905 SH SOLE 0 0 116905 Apple Inc COM 037833100 52824 312144 SH SOLE 0 0 312144 Applied Materials Inc COM 038222105 16440 321594 SH SOLE 0 0 321594 Aramark COM 03852U106 1530 35806 SH SOLE 0 0 35806 ASML Holding NV COM N07059210 3184 18316 SH SOLE 0 0 18316 AstraZeneca PLC COM 046353108 1781 51325 SH SOLE 0 0 51325 AT&T Inc COM 00206R102 47791 1229184 SH SOLE 0 0 1229184 Automatic Data Processing Inc COM 053015103 11920 101712 SH SOLE 0 0 101712 Baidu Inc COM 056752108 832 3552 SH SOLE 0 0 3552 Banco Bilbao Vizcaya Argentari COM 05946K101 960 112884 SH SOLE 0 0 112884 Banco Macro SA COM 05961W105 958 8264 SH SOLE 0 0 8264 Bank America Corp COM 060505104 17986 609276 SH SOLE 0 0 609276 Bank N S Halifax COM 064149107 906 14045 SH SOLE 0 0 14045 BB&T Corp COM 054937107 21324 428886 SH SOLE 0 0 428886 BCE Inc COM 05534B760 926 19286 SH SOLE 0 0 19286 Becton Dickinson & Co COM 075887109 23756 110980 SH SOLE 0 0 110980 Berkshire Hathaway Inc COM 084670702 34868 175905 SH SOLE 0 0 175905 Berkshire Hathaway Inc COM 084670108 28867 97 SH SOLE 0 0 97 Berry Global Group Inc COM 08579W103 3162 53888 SH SOLE 0 0 53888 BHP Billiton PLC COM 05545E209 1792 44464 SH SOLE 0 0 44464 Biogen Inc COM 09062X103 10131 31803 SH SOLE 0 0 31803 BlackRock Inc COM 09247X101 15762 30683 SH SOLE 0 0 30683 Boeing Co COM 097023105 54037 183233 SH SOLE 0 0 183233 BRF SA COM 10552T107 479 42535 SH SOLE 0 0 42535 Bristol-Myers Squibb Co COM 110122108 1016 16585 SH SOLE 0 0 16585 British American Tobacco PLC COM 110448107 2185 32612 SH SOLE 0 0 32612 Broadridge Financial Solutions COM 11133T103 3289 36310 SH SOLE 0 0 36310 Burlington Stores Inc COM 122017106 2652 21557 SH SOLE 0 0 21557 C H Robinson Worldwide Inc COM 12541W209 12217 137136 SH SOLE 0 0 137136 Cabot Oil & Gas Corp COM 127097103 788 27544 SH SOLE 0 0 27544 Cal Maine Foods Inc COM 128030202 11311 254465 SH SOLE 0 0 254465 Cal Maine Foods Inc COM 128030202 2222 50000 SH Call SOLE 0 0 50000 Callon Petroleum Co COM 13123X102 235 19336 SH SOLE 0 0 19336 Canadian Imperial Bank Comm To COM 136069101 1198 12299 SH SOLE 0 0 12299 Canadian National Railway Co COM 136375102 934 11322 SH SOLE 0 0 11322 Canon Inc COM 138006309 4162 111289 SH SOLE 0 0 111289 Capital Product Partners LP COM Y11082107 45 13500 SH SOLE 0 0 13500 Carbonite Inc COM 141337105 1713 68238 SH SOLE 0 0 68238 Carnival Corp COM 143658300 8016 120777 SH SOLE 0 0 120777 Caterpillar Inc COM 149123101 11126 70604 SH SOLE 0 0 70604 CDW Corp COM 12514G108 2564 36904 SH SOLE 0 0 36904 Celgene Corp COM 151020104 9422 90283 SH SOLE 0 0 90283 Cemex SAB de CV COM 151290889 682 90969 SH SOLE 0 0 90969 Centene Corp COM 15135B101 10535 104432 SH SOLE 0 0 104432 Centennial Resource Dev Inc COM 15136A102 332 16769 SH SOLE 0 0 16769 CenterPoint Energy Inc COM 15189T107 25726 907114 SH SOLE 0 0 907114 Cerner Corp COM 156782104 356 5283 SH SOLE 0 0 5283 Check Point Software Tech Ltd COM M22465104 560 5408 SH SOLE 0 0 5408 Chemical Financial Corp COM 163731102 2428 45412 SH SOLE 0 0 45412 Cheniere Energy Inc COM 16411R208 621 11533 SH SOLE 0 0 11533 Cheniere Energy Partners LP COM 16411Q101 670 22605 SH SOLE 0 0 22605 Chevron Corp COM 166764100 65857 526057 SH SOLE 0 0 526057 Chubb Limited COM H1467J104 15254 104389 SH SOLE 0 0 104389 Church & Dwight Inc COM 171340102 1180 23524 SH SOLE 0 0 23524 Cimarex Energy Co COM 171798101 457 3745 SH SOLE 0 0 3745 Cincinnati Financial Corp COM 172062101 16107 214852 SH SOLE 0 0 214852 Cintas Corp COM 172908105 9735 62472 SH SOLE 0 0 62472 Cisco Systems Inc COM 17275R102 56351 1471308 SH SOLE 0 0 1471308 Citigroup Inc COM 172967424 26569 357067 SH SOLE 0 0 357067 Clorox Co COM 189054109 268 1800 SH SOLE 0 0 1800 CMS Energy Corp COM 125896100 18472 390526 SH SOLE 0 0 390526 Coca-Cola Co COM 191216100 46699 1017848 SH SOLE 0 0 1017848 Colgate Palmolive Co COM 194162103 10195 135117 SH SOLE 0 0 135117 Comcast Corp COM 20030N101 10972 273960 SH SOLE 0 0 273960 Concho Resources Inc COM 20605P101 1185 7889 SH SOLE 0 0 7889 ConocoPhillips COM 20825C104 11563 210653 SH SOLE 0 0 210653 Consumer Staples Select Sector COM 81369Y308 225 3951 SH SOLE 0 0 3951 Continental Resources Inc COM 212015101 1097 20710 SH SOLE 0 0 20710 CoreSite Realty Corp COM 21870Q105 2046 17959 SH SOLE 0 0 17959 CRH PLC COM 12626K203 623 17254 SH SOLE 0 0 17254 Crown Castle Intl Corp COM 22822V101 22518 202842 SH SOLE 0 0 202842 Cullen Frost Bankers Inc COM 229899109 1490 15744 SH SOLE 0 0 15744 CVS Health Corp COM 126650100 7617 105061 SH SOLE 0 0 105061 Cypress Semiconductor Corp COM 232806109 17154 1125616 SH SOLE 0 0 1125616 CyrusOne Inc COM 23283R100 411 6900 SH SOLE 0 0 6900 D R Horton Inc COM 23331A109 10969 214781 SH SOLE 0 0 214781 Danaher Corp COM 235851102 10081 108612 SH SOLE 0 0 108612 Deere & Co COM 244199105 9744 62261 SH SOLE 0 0 62261 Diageo PLC COM 25243Q205 1657 11350 SH SOLE 0 0 11350 Diamondback Energy Inc COM 25278X109 3622 28686 SH SOLE 0 0 28686 Digital Realty Trust Inc COM 253868103 19821 174022 SH SOLE 0 0 174022 Discover Financial Services COM 254709108 18232 237021 SH SOLE 0 0 237021 Discover Financial Services COM 254709108 1069 13900 SH Call SOLE 0 0 13900 Disney Walt Co COM 254687106 10570 98312 SH SOLE 0 0 98312 Dominion Energy Inc COM 25746U109 22887 282345 SH SOLE 0 0 282345 Dowdupont Inc COM 26078J100 42631 598589 SH SOLE 0 0 598589 Duke Energy Corp COM 26441C204 28783 342204 SH SOLE 0 0 342204 ETrade Financial Corp COM 269246401 2918 58860 SH SOLE 0 0 58860 Eagle Materials Inc COM 26969P108 1707 15068 SH SOLE 0 0 15068 Ecolab Inc COM 278865100 7082 52782 SH SOLE 0 0 52782 Emerson Electric Co COM 291011104 20747 297710 SH SOLE 0 0 297710 Enable Midstream Partners LP COM 292480100 752 52852 SH SOLE 0 0 52852 Encana Corp COM 292505104 881 66109 SH SOLE 0 0 66109 Energen Corp COM 29265N108 610 10588 SH SOLE 0 0 10588 Energy Transfer Partners LP COM 29278N103 1240 69189 SH SOLE 0 0 69189 Enterprise Products Partners L COM 293792107 23930 902665 SH SOLE 0 0 902665 EOG Resources Inc COM 26875P101 22800 211285 SH SOLE 0 0 211285 EPAM Systems Inc COM 29414B104 1498 13947 SH SOLE 0 0 13947 EPR Properties COM 26884U109 13331 203648 SH SOLE 0 0 203648 EQT Corp COM 26884L109 641 11264 SH SOLE 0 0 11264 Essent Group Ltd COM G3198U102 1638 37717 SH SOLE 0 0 37717 Exelixis Inc COM 30161Q104 1120 36839 SH SOLE 0 0 36839 Exxon Mobil Corp COM 30231G102 41218 492802 SH SOLE 0 0 492802 Facebook Inc COM 30303M102 26062 147691 SH SOLE 0 0 147691 FCB Financial Holdings Inc COM 30255G103 2291 45098 SH SOLE 0 0 45098 FedEx Corp COM 31428X106 10264 41130 SH SOLE 0 0 41130 First Horizon Natl Corp COM 320517105 2695 134810 SH SOLE 0 0 134810 First Solar Inc COM 336433107 3162 46832 SH SOLE 0 0 46832 Firstcash Inc COM 33767D105 2713 40221 SH SOLE 0 0 40221 Fleetcor Technologies Inc COM 339041105 2791 14505 SH SOLE 0 0 14505 Fomento Economico Mexicano SAB COM 344419106 729 7767 SH SOLE 0 0 7767 Ford Motor Co COM 345370860 12505 1001231 SH SOLE 0 0 1001231 Franklin Resources Inc COM 354613101 8227 189867 SH SOLE 0 0 189867 GasLog Partners LP COM Y2687W108 925 37355 SH SOLE 0 0 37355 General Dynamics Corp COM 369550108 850 4176 SH SOLE 0 0 4176 General Electric Co COM 369604103 16519 946652 SH SOLE 0 0 946652 General Motors Co COM 37045V100 12440 303484 SH SOLE 0 0 303484 Genuine Parts Co COM 372460105 14372 151265 SH SOLE 0 0 151265 Ggp Inc COM 36174X101 256 10961 SH SOLE 0 0 10961 Gilead Sciences Inc COM 375558103 23404 326695 SH SOLE 0 0 326695 GlaxoSmithKline PLC COM 37733W105 1269 35783 SH SOLE 0 0 35783 Global Payments Inc COM 37940X102 2275 22695 SH SOLE 0 0 22695 Golar LNG Partners LP COM Y2745C102 931 40848 SH SOLE 0 0 40848 Gold Shares SPDR ETF COM 78463V107 9536 77122 SH SOLE 0 0 77122 Goldman Sachs Group Inc COM 38141G104 676 2652 SH SOLE 0 0 2652 Halliburton Co COM 406216101 1025 20976 SH SOLE 0 0 20976 Health Care Select Sector SPDR COM 81369Y209 732 8859 SH SOLE 0 0 8859 Healthcare Services Group Inc COM 421906108 1634 30985 SH SOLE 0 0 30985 Heico Corp COM 422806109 1563 16565 SH SOLE 0 0 16565 Hill Rom Holdings Inc COM 431475102 1990 23611 SH SOLE 0 0 23611 Holly Energy Partners LP COM 435763107 1338 41184 SH SOLE 0 0 41184 Hollysys Automation Technologi COM G45667105 737 33108 SH SOLE 0 0 33108 Home Depot Inc COM 437076102 23576 124393 SH SOLE 0 0 124393 Honeywell Intl Inc COM 438516106 17294 112768 SH SOLE 0 0 112768 Host Hotels & Resorts Inc COM 44107P104 17178 865406 SH SOLE 0 0 865406 HSBC Holdings PLC COM 404280406 943 18262 SH SOLE 0 0 18262 Icici Bank Ltd COM 45104G104 826 84888 SH SOLE 0 0 84888 Icon PLC COM G4705A100 4731 42181 SH SOLE 0 0 42181 ING Groep NV COM 456837103 4431 240054 SH SOLE 0 0 240054 Insperity Inc COM 45778Q107 1562 27229 SH SOLE 0 0 27229 Intel Corp COM 458140100 58150 1259745 SH SOLE 0 0 1259745 Intercontinental Hotels Group COM 45857P707 1968 30987 SH SOLE 0 0 30987 International Paper Co COM 460146103 37442 646223 SH SOLE 0 0 646223 Interpublic Group Cos Inc COM 460690100 2315 114843 SH SOLE 0 0 114843 Invesco Ltd COM G491BT108 16969 464400 SH SOLE 0 0 464400 Iron Mountain Inc PA COM 46284V101 15324 406138 SH SOLE 0 0 406138 iShares TR Core S&P Scp ETF COM 464287804 227 2960 SH SOLE 0 0 2960 iShares TR Iboxx Hi Yd ETF COM 464288513 14152 162183 SH SOLE 0 0 162183 iShares TR Iboxx Inv Cp ETF COM 464287242 12814 105415 SH SOLE 0 0 105415 iShares TR MBS ETF COM 464288588 837 7855 SH SOLE 0 0 7855 iShares TR Nasdaq Biotech ETF COM 464287556 344 3225 SH SOLE 0 0 3225 iShares TR Rus 2000 Val ETF COM 464287630 961 7640 SH SOLE 0 0 7640 iShares TR S&P Us Pfd Stk ETF COM 464288687 23509 617510 SH SOLE 0 0 617510 Itau Unibanco Holding SA COM 465562106 775 59586 SH SOLE 0 0 59586 John Bean Technologies Corp COM 477839104 1301 11746 SH SOLE 0 0 11746 Johnson & Johnson COM 478160104 40480 289720 SH SOLE 0 0 289720 Jones Energy Inc COM 48019R108 22 20002 SH SOLE 0 0 20002 JPMorgan Chase & Co COM 46625H100 37379 349530 SH SOLE 0 0 349530 Kansas City Southern COM 485170302 10235 97273 SH SOLE 0 0 97273 KAR Auction Services Inc COM 48238T109 2459 48692 SH SOLE 0 0 48692 Kayne Anderson MLP Inv Co COM 486606106 286 15000 SH SOLE 0 0 15000 Kimberly Clark Corp COM 494368103 15124 125341 SH SOLE 0 0 125341 Knot Offshore Partners LP COM Y48125101 315 15178 SH SOLE 0 0 15178 Koninklijke Philips NV COM 500472303 2907 76905 SH SOLE 0 0 76905 Kraft Heinz Co COM 500754106 13175 169431 SH SOLE 0 0 169431 L3 Technologies Inc COM 502413107 300 1515 SH SOLE 0 0 1515 Laboratory Corp America Holdin COM 50540R409 2479 15541 SH SOLE 0 0 15541 Lamar Advertising Co COM 512816109 24244 326556 SH SOLE 0 0 326556 Las Vegas Sands Corp COM 517834107 21875 314790 SH SOLE 0 0 314790 Liberty Interactive Corp COM 53071M856 1443 26613 SH SOLE 0 0 26613 Lilly Eli & Co COM 532457108 24293 287631 SH SOLE 0 0 287631 Lincoln Natl Corp Ind COM 534187109 11282 146771 SH SOLE 0 0 146771 LKQ Corp COM 501889208 2985 73384 SH SOLE 0 0 73384 Lockheed Martin Corp COM 539830109 40134 125008 SH SOLE 0 0 125008 Lowes Cos Inc COM 548661107 230 2471 SH SOLE 0 0 2471 LyondellBasell Industries NV COM N53745100 17457 158238 SH SOLE 0 0 158238 M/I Homes Inc COM 55305B101 2550 74139 SH SOLE 0 0 74139 Macquarie Infrastructure Corp COM 55608B105 12447 193874 SH SOLE 0 0 193874 Magellan Midstream Partners LP COM 559080106 1983 27955 SH SOLE 0 0 27955 Main Street Capital Corp COM 56035L104 249 6259 SH SOLE 0 0 6259 Marathon Oil Corp COM 565849106 423 25000 SH SOLE 0 0 25000 Marathon Petroleum Corp COM 56585A102 8422 127642 SH SOLE 0 0 127642 Masco Corp COM 574599106 9510 216432 SH SOLE 0 0 216432 Matador Resources Co COM 576485205 667 21441 SH SOLE 0 0 21441 Maxim Integrated Prods Inc COM 57772K101 18609 355945 SH SOLE 0 0 355945 McCormick & Co Inc COM 579780206 8338 81820 SH SOLE 0 0 81820 McDonalds Corp COM 580135101 32476 188682 SH SOLE 0 0 188682 MercadoLibre Inc COM 58733R102 1276 4055 SH SOLE 0 0 4055 Merck & Co Inc COM 58933Y105 39412 700415 SH SOLE 0 0 700415 MetLife Inc COM 59156R108 13532 267645 SH SOLE 0 0 267645 Microsoft Corp COM 594918104 64008 748280 SH SOLE 0 0 748280 Mobile Telesystems PJSC COM 607409109 508 49897 SH SOLE 0 0 49897 Mondelez Intl Inc COM 609207105 8676 202708 SH SOLE 0 0 202708 Moodys Corp COM 615369105 10054 68109 SH SOLE 0 0 68109 Morgan Stanley COM 617446448 27737 528621 SH SOLE 0 0 528621 Newell Brands Inc COM 651229106 295 9557 SH SOLE 0 0 9557 Newfield Exploration Co COM 651290108 3638 115370 SH SOLE 0 0 115370 Nextera Energy Inc COM 65339F101 281 1800 SH SOLE 0 0 1800 Noble Midstream Partners LP COM 65506L105 422 8442 SH SOLE 0 0 8442 Norfolk Southern Corp COM 655844108 427 2950 SH SOLE 0 0 2950 Norwegian Cruise Line Holdings COM G66721104 1040 19538 SH SOLE 0 0 19538 Novartis AG COM 66987V109 3264 38873 SH SOLE 0 0 38873 Novo-Nordisk AS COM 670100205 1229 22892 SH SOLE 0 0 22892 NTT Docomo Inc COM 62942M201 1501 63132 SH SOLE 0 0 63132 Nutri Systems Inc COM 67069D108 1438 27332 SH SOLE 0 0 27332 Oasis Petroleum Inc COM 674215108 172 20448 SH SOLE 0 0 20448 Occidental Petroleum Corp COM 674599105 15709 213264 SH SOLE 0 0 213264 Old Dominion Freight Lines Inc COM 679580100 1567 11910 SH SOLE 0 0 11910 Ollies Bargain Outlt Holdings COM 681116109 2935 55122 SH SOLE 0 0 55122 Omnicom Group Inc COM 681919106 5932 81449 SH SOLE 0 0 81449 Oracle Corp COM 68389X105 11441 241991 SH SOLE 0 0 241991 Parsley Energy Inc COM 701877102 600 20394 SH SOLE 0 0 20394 Paychex Inc COM 704326107 21422 314665 SH SOLE 0 0 314665 Paypal Holdings Inc COM 70450Y103 332 4516 SH SOLE 0 0 4516 Pbf Logistics LP COM 69318Q104 853 40714 SH SOLE 0 0 40714 Peoples United Financial Inc COM 712704105 15594 833898 SH SOLE 0 0 833898 PepsiCo Inc COM 713448108 45518 379570 SH SOLE 0 0 379570 Pfizer Inc COM 717081103 67185 1854926 SH SOLE 0 0 1854926 Philip Morris Intl Inc COM 718172109 36080 341504 SH SOLE 0 0 341504 Phillips 66 COM 718546104 1266 12521 SH SOLE 0 0 12521 Pinnacle Foods Inc COM 72348P104 2458 41327 SH SOLE 0 0 41327 Pioneer Natural Resources Co COM 723787107 567 3279 SH SOLE 0 0 3279 Plains Group Hlgs LP COM 72651A207 2481 113009 SH SOLE 0 0 113009 PNC Financial Services Group I COM 693475105 1003 6950 SH SOLE 0 0 6950 PolyOne Corp COM 73179P106 1178 27080 SH SOLE 0 0 27080 POSCO COM 693483109 791 10123 SH SOLE 0 0 10123 Potash Corp Saskatchewan Inc COM 73755L107 905 43847 SH SOLE 0 0 43847 PowerShares QQQ Trust COM 73935A104 701 4500 SH SOLE 0 0 4500 Pra Health Sciences Inc COM 69354M108 2017 22147 SH SOLE 0 0 22147 Price T Rowe Group Inc COM 74144T108 13635 129945 SH SOLE 0 0 129945 Procter And Gamble Co COM 742718109 63857 695005 SH SOLE 0 0 695005 Proto Laboratories Inc COM 743713109 1603 15564 SH SOLE 0 0 15564 Public Service Enterprise Grou COM 744573106 11105 215628 SH SOLE 0 0 215628 PVH Corp COM 693656100 13433 97901 SH SOLE 0 0 97901 Qorvo Inc COM 74736K101 1993 29923 SH SOLE 0 0 29923 Quanta Services Inc COM 74762E102 2386 61016 SH SOLE 0 0 61016 Raytheon Co COM 755111507 692 3685 SH SOLE 0 0 3685 Regeneron Pharmaceuticals COM 75886F107 7467 19860 SH SOLE 0 0 19860 ResMed Inc COM 761152107 1550 18304 SH SOLE 0 0 18304 Restaurant Brands Intl Inc COM 76131D103 2386 38803 SH SOLE 0 0 38803 Ring Energy Inc COM 76680V108 2293 164975 SH SOLE 0 0 164975 Rio Tinto PLC COM 767204100 3071 58025 SH SOLE 0 0 58025 Rockwell Automation Inc COM 773903109 273 1392 SH SOLE 0 0 1392 Ross Stores Inc COM 778296103 9256 115337 SH SOLE 0 0 115337 Royal Bank of Canada Montreal COM 780087102 2124 26016 SH SOLE 0 0 26016 Royal Dutch Shell PLC COM 780259206 2965 44448 SH SOLE 0 0 44448 Royal Dutch Shell PLC COM 780259107 22169 324625 SH SOLE 0 0 324625 RPC Inc COM 749660106 356 13930 SH SOLE 0 0 13930 Ryman Hospitality Properties I COM 78377T107 1194 17297 SH SOLE 0 0 17297 S&P 500 INDEX Ishares ETF COM 464287200 4689 17440 SH SOLE 0 0 17440 S&P 500 SPDR ETF COM 78462F103 7004 26245 SH SOLE 0 0 26245 S&P Global Inc COM 78409V104 10450 61691 SH SOLE 0 0 61691 Sap SE COM 803054204 2704 24064 SH SOLE 0 0 24064 SBA Communications Corp COM 78410G104 1425 8722 SH SOLE 0 0 8722 Schlumberger Ltd COM 806857108 12518 185755 SH SOLE 0 0 185755 Sherwin Williams Co COM 824348106 8965 21863 SH SOLE 0 0 21863 Shire PLC COM 82481R106 924 5958 SH SOLE 0 0 5958 Silver Run Acquisition COM 82812A103 99 10000 SH SOLE 0 0 10000 Simon Property Group Inc COM 828806109 15276 88947 SH SOLE 0 0 88947 SK Telecom Ltd COM 78440P108 1270 45496 SH SOLE 0 0 45496 Skechers USA Inc COM 830566105 2435 64339 SH SOLE 0 0 64339 SM Energy Co COM 78454L100 505 22878 SH SOLE 0 0 22878 SodaStream International Ltd COM M9068E105 3092 43957 SH SOLE 0 0 43957 Sony Corp COM 835699307 2904 64601 SH SOLE 0 0 64601 Southern Co COM 842587107 17448 362824 SH SOLE 0 0 362824 Southwest Airlines Co COM 844741108 15755 240720 SH SOLE 0 0 240720 SPDR S&P Regional Banking COM 78464A698 545 9262 SH SOLE 0 0 9262 SPDR Series Trust S&P Biotech COM 78464A870 2876 33889 SH SOLE 0 0 33889 Statoil ASA COM 85771P102 550 25692 SH SOLE 0 0 25692 Steel Dynamics Inc COM 858119100 1376 31892 SH SOLE 0 0 31892 Stifel Financial Corp COM 860630102 2403 40352 SH SOLE 0 0 40352 Stryker Corp COM 863667101 8220 53088 SH SOLE 0 0 53088 Sumitomo Mitsui Financial Grou COM 86562M209 922 106147 SH SOLE 0 0 106147 SunTrust Banks Inc COM 867914103 20834 322555 SH SOLE 0 0 322555 Supernus Pharmaceuticals Inc COM 868459108 1351 33890 SH SOLE 0 0 33890 SVB Financial Group COM 78486Q101 2826 12090 SH SOLE 0 0 12090 Symantec Corp COM 871503108 6867 244713 SH SOLE 0 0 244713 Taiwan Semiconductor Mfg Ltd COM 874039100 6516 164337 SH SOLE 0 0 164337 Tallgrass Energy Partners LP COM 874697105 761 16600 SH SOLE 0 0 16600 Targa Resources Corp COM 87612G101 345 7122 SH SOLE 0 0 7122 Telecom Argentina SA COM 879273209 950 25941 SH SOLE 0 0 25941 Tenaris SA COM 88031M109 708 22218 SH SOLE 0 0 22218 Terex Corp COM 880779103 1465 30379 SH SOLE 0 0 30379 Ternium SA COM 880890108 811 25680 SH SOLE 0 0 25680 Texas Instruments Inc COM 882508104 17581 168333 SH SOLE 0 0 168333 Thermo Fisher Scientific Inc COM 883556102 7244 38152 SH SOLE 0 0 38152 Total SA COM 89151E109 2669 48274 SH SOLE 0 0 48274 Tractor Supply Co COM 892356106 2110 28230 SH SOLE 0 0 28230 TransCanada Corp COM 89353D107 852 17522 SH SOLE 0 0 17522 TransUnion COM 89400J107 1987 36157 SH SOLE 0 0 36157 Trupanion Inc COM 898202106 1314 44897 SH SOLE 0 0 44897 Tupperware Brands Corp COM 899896104 13237 211116 SH SOLE 0 0 211116 Umh Properties Inc COM 903002103 1737 116564 SH SOLE 0 0 116564 Unilever NV COM 904784709 294 5219 SH SOLE 0 0 5219 Unilever PLC COM 904767704 3288 59407 SH SOLE 0 0 59407 Union Pacific Corp COM 907818108 1246 9292 SH SOLE 0 0 9292 Unit Corp COM 909218109 3271 148676 SH SOLE 0 0 148676 United Continental Holdings In COM 910047109 5098 75637 SH SOLE 0 0 75637 United Parcel Service Inc COM 911312106 17620 147880 SH SOLE 0 0 147880 United Rentals Inc COM 911363109 1914 11131 SH SOLE 0 0 11131 United Technologies Corp COM 913017109 12958 101579 SH SOLE 0 0 101579 UnitedHealth Group Inc COM 91324P102 38900 176449 SH SOLE 0 0 176449 US Bancorp Del COM 902973304 11209 209202 SH SOLE 0 0 209202 USA Compression Partners LP COM 90290N109 172 10408 SH SOLE 0 0 10408 USA Technologies Inc COM 90328S500 1485 152265 SH SOLE 0 0 152265 Valero Energy Corp COM 91913Y100 24735 269120 SH SOLE 0 0 269120 Valley National Bancorp COM 919794107 1870 166672 SH SOLE 0 0 166672 Vanguard FTSE Emerging Markets COM 922042858 1062 23123 SH SOLE 0 0 23123 Verisk Analytics Inc COM 92345Y106 1355 14117 SH SOLE 0 0 14117 Verizon Communications Inc COM 92343V104 36471 689051 SH SOLE 0 0 689051 VF Corp COM 918204108 340 4600 SH SOLE 0 0 4600 Visa Inc COM 92826C839 22069 193555 SH SOLE 0 0 193555 Vodafone Group PLC COM 92857W308 538 16867 SH SOLE 0 0 16867 Wal-Mart Stores Inc COM 931142103 46827 474195 SH SOLE 0 0 474195 Waste Connections Inc COM 94106B101 2892 40768 SH SOLE 0 0 40768 Webster Financial Corp CT COM 947890109 2394 42627 SH SOLE 0 0 42627 Wells Fargo Co COM 949746101 21635 356593 SH SOLE 0 0 356593 Western Alliance Bancorp COM 957638109 2559 45188 SH SOLE 0 0 45188 Western Gas Partners LP COM 958254104 400 8328 SH SOLE 0 0 8328 Westlake Chem Corp COM 960413102 15195 142640 SH SOLE 0 0 142640 Westpac Banking Corp COM 961214301 2578 105723 SH SOLE 0 0 105723 Wildhorse Resource Development COM 96812T102 357 19370 SH SOLE 0 0 19370 Williams Partners LP New COM 96949L105 534 13766 SH SOLE 0 0 13766 WPX Energy Inc COM 98212B103 602 42783 SH SOLE 0 0 42783 Wyndham Worldwide Corp COM 98310W108 9606 82907 SH SOLE 0 0 82907 XPO Logistics Inc COM 983793100 5162 56363 SH SOLE 0 0 56363 Yandex NV COM N97284108 614 18752 SH SOLE 0 0 18752 YPF Sociedad Anonima COM 984245100 702 30622 SH SOLE 0 0 30622 Yum Brands Inc COM 988498101 628 7700 SH SOLE 0 0 7700 Zions Bancorporation COM 989701107 2641 51949 SH SOLE 0 0 51949 Landmark Infrastructure LP LTD 51508J108 860 47490 SH SOLE 0 0 47490