Welch 13FHR Quarterly holdings report by institutional manager | SEC 15 Apr 19

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Apple Inc	Common	037833100	4,668	24,577	SH		SOLE		0	0	24,577
Abbvie Inc Com USD0.01	Common	00287Y109	24,000	297,807	SH		SOLE		0	0	297,807
Abbott Laboratories	Common	002824100	1,550	19,388	SH		SOLE		0	0	19,388
Accenture	Common	G1150G111	306	1,740	SH		SOLE		0	0	1,740
Archer-Daniels-Midlnd Co	Common	039483102	116	2,678	SH		SOLE		0	0	2,678
Auto Data Processing	Common	053015103	298	1,863	SH		SOLE		0	0	1,863
Amer Electric Pwr Co Inc	Common	025537101	459	5,485	SH		SOLE		0	0	5,485
Gallagher Arthur J & Co	Common	363576109	27,798	355,931	SH		SOLE		0	0	355,931
Albemarle Corp	Common	012653101	181	2,207	SH		SOLE		0	0	2,207
Amgen Incorporated	Common	031162100	256	1,349	SH		SOLE		0	0	1,349
Amazon Com Inc	Common	023135106	917	515	SH		SOLE		0	0	515
American Express Company	Common	025816109	412	3,771	SH		SOLE		0	0	3,771
Boeing Co	Common	097023105	116	305	SH		SOLE		0	0	305
Bank Of America Corp	Common	060505104	1,761	63,812	SH		SOLE		0	0	63,812
Baxter International Inc	Common	071813109	257	3,158	SH		SOLE		0	0	3,158
Bb&T Corporation	Common	054937107	385	8,283	SH		SOLE		0	0	8,283
Banco Bilbao Vizcaya Argentin	Common	05946K101	258	45,053	SH		SOLE		0	0	45,053
Bristol-Myers Squibb Co	Common	110122108	528	11,076	SH		SOLE		0	0	11,076
Bp Plc Adr	Common	055622104	625	14,296	SH		SOLE		0	0	14,296
Berkshire Hathaway Cl B	Common	084670207	1,663	8,278	SH		SOLE		0	0	8,278
Caterpillar Inc	Common	149123101	1,501	11,076	SH		SOLE		0	0	11,076
Cincinnati Financial Cp	Common	172062101	28,286	329,294	SH		SOLE		0	0	329,294
Colgate-Palmolive Co	Common	194162103	25,722	375,288	SH		SOLE		0	0	375,288
Comcast Corp New Cl A	Common	20030N101	163	4,077	SH		SOLE		0	0	4,077
Cme Group Inc Cl A	Common	12572Q105	268	1,630	SH		SOLE		0	0	1,630
Capital One Financial Cp	Common	14040H105	145	1,773	SH		SOLE		0	0	1,773
Conocophillips	Common	20825C104	180	2,704	SH		SOLE		0	0	2,704
Cisco Systems Inc	Common	17275R102	3,340	61,870	SH		SOLE		0	0	61,870
Chevron Corporation	Common	166764100	28,911	234,702	SH		SOLE		0	0	234,702
Dominion Res Inc Va New	Common	25746U109	456	5,943	SH		SOLE		0	0	5,943
Deere & Co	Common	244199105	634	3,969	SH		SOLE		0	0	3,969
Diageo Plc New Adr	Common	25243Q205	597	3,647	SH		SOLE		0	0	3,647
Dollar General Corp New	Common	256677105	332	2,781	SH		SOLE		0	0	2,781
Disney Walt Co	Common	254687106	394	3,551	SH		SOLE		0	0	3,551
Duke Energy Corp New	Common	26441C105	569	6,317	SH		SOLE		0	0	6,317
Dowdupont Inc	Common	26078J100	286	5,359	SH		SOLE		0	0	5,359
Consolidated Edison Inc	Common	209115104	26,603	313,675	SH		SOLE		0	0	313,675
Emerson Electric Co	Common	291011104	25,453	371,733	SH		SOLE		0	0	371,733
Enterprise Prd Prtnrs Lp	Common	293792107	1,262	43,359	SH		SOLE		0	0	43,359
Entergy Corp New	Common	29364G103	415	4,344	SH		SOLE		0	0	4,344
Exelon Corporation	Common	30161N101	126	2,515	SH		SOLE		0	0	2,515
Diamondback Energy	Common	25278X109	753	7,420	SH		SOLE		0	0	7,420
Facebook Inc Class A	Common	30303M102	183	1,099	SH		SOLE		0	0	1,099
Fiserv Inc	Common	337738108	177	2,000	SH		SOLE		0	0	2,000
Gilead Sciences Inc	Common	375558103	562	8,640	SH		SOLE		0	0	8,640
General Mills Inc	Common	370334104	27,971	540,494	SH		SOLE		0	0	540,494
Alphabet Inc	Common	08259P706	313	267	SH		SOLE		0	0	267
Alphabet Inc. Class A	Common	38259P508	1,173	997	SH		SOLE		0	0	997
Goldman Sachs Group Inc	Common	38141G104	449	2,339	SH		SOLE		0	0	2,339
Gray Television Inc	Common	389375106	214	10,000	SH		SOLE		0	0	10,000
Home Depot Inc	Common	437076102	28,008	145,959	SH		SOLE		0	0	145,959
Honeywell International	Common	438516106	165	1,040	SH		SOLE		0	0	1,040
Intl Business Machines	Common	459200101	25,329	179,509	SH		SOLE		0	0	179,509
Intel Corp	Common	458140100	29,463	548,654	SH		SOLE		0	0	548,654
Ivanhoe Mines Ltd	Common	46579R104	26	11,000	SH		SOLE		0	0	11,000
Johnson & Johnson	Common	478160104	28,329	202,654	SH		SOLE		0	0	202,654
JP Morgan Chase & Co	Common	46625H100	1,894	18,712	SH		SOLE		0	0	18,712
Kellogg Company	Common	487836108	235	4,104	SH		SOLE		0	0	4,104
Kimberly-Clark Corp	Common	494368103	27,375	220,943	SH		SOLE		0	0	220,943
Kinder Morgan Inc	Common	49456B101	871	43,513	SH		SOLE		0	0	43,513
Coca Cola Company	Common	191216100	4,309	91,954	SH		SOLE		0	0	91,954
Leggett & Platt Inc	Common	524660107	24,942	590,774	SH		SOLE		0	0	590,774
Lilly Eli & Company	Common	532457108	237	1,825	SH		SOLE		0	0	1,825
Lockheed Martin Corp	Common	539830109	25,656	85,473	SH		SOLE		0	0	85,473
Lowes Companies Inc	Common	548661107	105	957	SH		SOLE		0	0	957
Mastercard Inc	Common	57636Q104	421	1,786	SH		SOLE		0	0	1,786
Mid Amer Apt Cmntys Inc	Common	59522J103	143	1,304	SH		SOLE		0	0	1,304
Mc Donalds Corp	Common	580135101	28,877	152,063	SH		SOLE		0	0	152,063
Medtronic Inc	Common	585055106	167	1,836	SH		SOLE		0	0	1,836
3m Company	Common	88579Y101	25,980	125,037	SH		SOLE		0	0	125,037
Magellan Midstream Ptnrs	Common	559080106	115	1,902	SH		SOLE		0	0	1,902
Altria Group Inc	Common	02209S103	260	4,534	SH		SOLE		0	0	4,534
Medical Properties TRUST	Common	58463J304	107	5,769	SH		SOLE		0	0	5,769
Merck & Co Inc	Common	589331107	852	10,245	SH		SOLE		0	0	10,245
Microsoft Corp	Common	594918104	32,770	277,851	SH		SOLE		0	0	277,851
Micron Technology Inc	Common	595112103	253	6,110	SH		SOLE		0	0	6,110
NextEra Energy Inc	Common	65339F101	28,925	149,621	SH		SOLE		0	0	149,621
Northrop Grumman Corp	Common	666807102	693	2,570	SH		SOLE		0	0	2,570
Norfolk Southern Corp	Common	655844108	312	1,668	SH		SOLE		0	0	1,668
Nucor Corp	Common	670346105	129	2,203	SH		SOLE		0	0	2,203
Nvidia Corp	Common	67066G104	560	3,121	SH		SOLE		0	0	3,121
Novartis A G Spon Adr	Common	66987V109	28,256	293,900	SH		SOLE		0	0	293,900
Oneok Inc New	Common	682680103	744	10,649	SH		SOLE		0	0	10,649
Oracle Corporation	Common	68389X105	361	6,720	SH		SOLE		0	0	6,720
Paychex Inc	Common	704326107	29,509	367,947	SH		SOLE		0	0	367,947
Pepsico Incorporated	Common	713448108	28,409	231,819	SH		SOLE		0	0	231,819
Pfizer Incorporated	Common	717081103	2,510	59,106	SH		SOLE		0	0	59,106
Procter & Gamble	Common	742718109	30,317	291,370	SH		SOLE		0	0	291,370
Philip Morris Intl Inc	Common	718172109	424	4,794	SH		SOLE		0	0	4,794
P P G Industries Inc	Common	693506107	292	2,588	SH		SOLE		0	0	2,588
Proassurance Corporation	Common	74267C106	1,507	43,528	SH		SOLE		0	0	43,528
Phillips	Common	718546104	501	5,262	SH		SOLE		0	0	5,262
Royal Dutch Shell A Adrf	Common	780259206	7,428	118,678	SH		SOLE		0	0	118,678
Royal Dutch Shell B Adrf	Common	780259107	17,085	267,158	SH		SOLE		0	0	267,158
Regions Financial Cp New	Common	7591EP100	694	49,070	SH		SOLE		0	0	49,070
Renaissancere Hldgs Incf	Common	G7496G103	208	1,450	SH		SOLE		0	0	1,450
Ross Stores Inc	Common	778296103	293	3,151	SH		SOLE		0	0	3,151
Royal Bk Cda Montreal	Common	780087102	148	1,954	SH		SOLE		0	0	1,954
Servisfirst Bancshares	Common	81768T108	7,980	236,362	SH		SOLE		0	0	236,362
Sherwin Williams Co	Common	824348106	333	773	SH		SOLE		0	0	773
Schlumberger Ltd	Common	806857108	423	9,705	SH		SOLE		0	0	9,705
Smartfinancial Inc	Common	83190L208	169	8,914	SH		SOLE		0	0	8,914
Smith & Nephew Ordf	Common	G82343164	119	5,978	SH		SOLE		0	0	5,978
Synovus Financial Corp	Common	87161C105	2,214	64,448	SH		SOLE		0	0	64,448
The Southern Company	Common	842587107	30,359	587,450	SH		SOLE		0	0	587,450
Suntrust Banks Inc	Common	867914103	148	2,493	SH		SOLE		0	0	2,493
Constellation Brand Cl A	Common	21036P108	151	860	SH		SOLE		0	0	860
Stryker Corp	Common	863667101	745	3,774	SH		SOLE		0	0	3,774
A T & T Inc New	Common	00206R102	24,711	787,993	SH		SOLE		0	0	787,993
Triad Guaranty Inc	Common	895925105	14	72,470	SH		SOLE		0	0	72,470
Target Corporation	Common	87612E106	399	4,973	SH		SOLE		0	0	4,973
Tiffany & Co New	Common	886547108	169	1,606	SH		SOLE		0	0	1,606
T J X Co. Inc	Common	872540109	315	5,925	SH		SOLE		0	0	5,925
Torchmark Corporation	Common	891027104	3,059	37,323	SH		SOLE		0	0	37,323
Texas Instruments Inc	Common	882508104	159	1,501	SH		SOLE		0	0	1,501
Unilever Plc Adr New	Common	904767704	23,453	406,318	SH		SOLE		0	0	406,318
Unilever N V Ny Shs Newf	Common	904784709	2,750	47,175	SH		SOLE		0	0	47,175
U S Bancorp Del New	Common	902973304	700	14,532	SH		SOLE		0	0	14,532
United Technologies Corp	Common	913017109	26,804	207,963	SH		SOLE		0	0	207,963
Visa Inc Cl A	Common	92826C839	891	5,704	SH		SOLE		0	0	5,704
Vulcan Materials Company	Common	929160109	1,220	10,306	SH		SOLE		0	0	10,306
Verizon Communications	Common	92343V104	28,424	480,703	SH		SOLE		0	0	480,703
Walgreens Boots Alliance	Common	931427108	356	5,621	SH		SOLE		0	0	5,621
Wells Fargo & Co New	Common	949746101	288	5,963	SH		SOLE		0	0	5,963
Wal-Mart Stores Inc	Common	931142103	535	5,484	SH		SOLE		0	0	5,484
W P Carey & Co L L C	Common	92930Y107	219	2,793	SH		SOLE		0	0	2,793
Xcel Energy Inc	Common	98389B100	463	8,240	SH		SOLE		0	0	8,240
Exxon Mobil Corporation	Common	30231G102	27,761	343,580	SH		SOLE		0	0	343,580
Yum Brands Inc	Common	988498101	621	6,225	SH		SOLE		0	0	6,225
Yum China Holdings I	Common	98850P109	248	5,518	SH		SOLE		0	0	5,518
Hutton Tele Trust UIT	Common	447900101	133	35,800	SH		SOLE		0	0	35,800
Ishares Dj Select Div Fd	Common	464287168	299	3,050	SH		SOLE		0	0	3,050
Ishares Tr Msci Eafe Fd	Common	464287465	263	4,060	SH		SOLE		0	0	4,060
Streettracks Gold TRUST	Common	863307104	680	5,571	SH		SOLE		0	0	5,571
Ishares S&P 500 Value	Common	464287408	259	2,301	SH		SOLE		0	0	2,301
Ishares TRUST S&P	Common	464287200	934	3,284	SH		SOLE		0	0	3,284
Powershares RAFI Small/Mid Ca	Common	73936T771	122	4,093	SH		SOLE		0	0	4,093
Powershs RAFI Large Cap US	Common	73935X583	903	7,961	SH		SOLE		0	0	7,961
Powershares RAFI Small/Mid Ca	Common	73935X567	398	3,123	SH		SOLE		0	0	3,123
Invesco FTSE RAFI Developed M	Common	73935X583	126	3,111	SH		SOLE		0	0	3,111
Ishares Silver TRUST	Common	46428Q109	258	18,199	SH		SOLE		0	0	18,199
S P D R TRUST Unit SR	Common	78462F103	7,076	25,048	SH		SOLE		0	0	25,048
Vanguard Total Stock Mkt	Common	922908769	238	1,646	SH		SOLE		0	0	1,646
Vanguard Emerging Market	Common	922042858	320	7,528	SH		SOLE		0	0	7,528

Welch 13F-HRQuarterly holdings report by institutional manager