Trump Tax Bill Initial Tax Benefits For All 526 US Corps With Stock Market Caps Above $10 Bil Are Very Unfair By US State With the Following Very Strange Results of Net Tax Benefits (i.e. Which is a function of the 40% Cut in the Corp Federal Tax Rate Multiplied By the Excess of Audited Deferred Income Tax Liabilities (US Total $1.0177 Trillion) Over Audited Deferred Income Tax Assets (US Total $276.3 Bil)), With These Net Tax Benefits (DTLs Over DTAs) Driving Both the Debt Forgiveness Granted to Corporations and the 4Q 2017 Corporation Earnings Increases, Both Due to the Trump Tax Bill ...................................................................................... Texas 49 Corps Total Net Deferred Income Tax Liabilities (DTLs) in Excess of Total Net Deferred Income Tax Assets (DTAs) of $161.3 Bil Were 81% More Than California 86 Corps Total DTLs Over Total DTAs of $89.1 Bil: Remember, the Higher the Excess of DTLs Over DTAs, the Higher the Tax Benefits Received From the Trump Tax Bill ...................................................................................... Nebraska 3 Corps Total DTLs Over DTAs of $93.1 Bil Were 5% Above California 86 Corps Total Net DTLs Over DTAs of $89.1 Bil .... No, That's Not a Typo, Warren Buffett Doesn't Just Understand Economics and Finance, He Also Understands Accounting: With the Tax Benefits From the Trump Tax Bill, Berkshire Hathaway's 4Q 2017 Earnings Should Surpass That of Apple ...................................................................................... Instead of Net Tax Benefit From DTLs Over DTAs, Michigan 15 Corps Get Just the Opposite of Total DTAs Over DTLs of a Massive $45.1 Bil and so, Donald Trump Won Michigan and Now Nails Michigan Like This in His Trump Tax Bill? ...................................................................................... If Not For Utility Corp Duke Energy, North Carolina 15 Other Corps Had the Detrimental Effect of Total DTAs Over DTLs of $4.2 Bil ...................................................................................... New Jersey 19 Corps Total DTLs Over DTAs Were $44 Bil, 36% More Than Its Neighbor Giant New York 60 Corps DTLs Over DTAs of $32.3 Bil ...................................................................................... Pennsylvania 21 Corps Really Rock Under Trump Tax Bill With Total DTLs Over Total DTAs of $71.9 Bil, Up 141% Over Neighbor Ohio 21 Corps $29.8 Bil, Up 123% Over Neighbor New York 60 Corps $32.3 Bil, Up 63% Over Neighbor New Jersey 19 Corps $44 Bil, Up 686% Over Massachusetts 19 Corps $9.2 Bil and Only 19% Below California 86 Corps $89.1 Bil ...................................................................................... West Coast US States Bludgeoned By Trump Tax Bill But It's Not Just California, Oregon's Nike Had Total Net DTAs of $1.0 Bil and Entrepreneurial Tech Haven Washington State 11 Corps Get Only a Total Net DTLs Over DTAs of $4.4 Bil, a Paltry 0.6% of the Total Initial Tax Benefits From the Trump Tax Bill ...................................................................................... With Its Technology Emphasis Like That in California, Massachusetts 19 Corps Have Total DTLs Over DTAs of Only $9.2 Bil and Thus Get Only 1.2% of the Total Initial Tax Benefits From the Trump Tax Bill ...................................................................................... Even With Its Emphasis on New Businesses and the Entrepreneurial Spirit, Colorado 12 Corps Get Only 1.1% of the Total Initial Tax Benefits From the Trump Tax Bill ....................................................................................... Corps in 6 US States Trump Won Get 55.4% of Total Initial Net Tax Benefits of Trump Tax Bill (Texas 21.8%, Nebraska 12.6%, Pennsylvania 9.7%, Ohio 4.0%, Georgia 3.8% and Florida 3.5%)

From a review of income tax and other footnotes in their most recent audited annual financial statements in their SEC filings, below here are the audited Net Deferred Income Tax (Liabilities) Assets mostly at December 31, 2016, along with other related income tax disclosures for the 526 largest US Companies with stock market caps above $10 Bil recently.  Also Included in these 526 US Companies are 4 Private US Companies With Total Equity of at least $10 Bil.

			Deferred	Deferred	Deferred		US Corps
		Net	Income	Income	Income		in State:
		Deferred	Tax	Tax	Tax		Total
		Income	(Liabilities)	Assets	Assets	Totals	Net
		Tax	Related To	Related To	Related To	By	Deferred
		Assets	Unremitted	Pensions &	Unused	US	Income
US Companies		(Liabilities)	Earnings of	Other Post	Tax	State	Tax
Sorted By US State	State	Mostly	Foreign	Retirement	Credits	# of	Assets
Stock Market Caps > $10 Bil	HQs	12-31-16	Subs	Benefits	C/Fs	Corps	(Liabilities)
		bils $s	bils $s	bils $s	bils $s		bils $s
Vulcan Materials	AL	(0.703)			0.018
Regions Financial	AL	0.308			0.013	2	(0.395)
Tyson Foods	AR	(2.971)
JB Hunt Transport	AR	(0.791)
Wal-Mart	AR	(2.768)				3	(6.530)
Microchip Technology	AZ	(0.340)			0.243
Freeport-McMoran	AZ	(3.765)	(0.779)		2.538
Pinnacle West Capital	AZ	(2.945)		(0.073)
Republic Services	AZ	(1.171)
Southern Copper Corp	AZ	0.565	(0.046)		0.447
Freeport-McMoran	AZ	(3.765)	(0.779)	0.403	2.538	6	(11.421)
Symantec	CA	(2.358)	(1.939)		0.042
HP Inc	CA	(0.862)	(5.179)	0.592
Xilinx	CA	(0.254)	(0.383)		0.110
Lam Research	CA	(0.153)	(0.303)
Western Digital	CA	(0.153)	(0.038)		0.283
Linear Technology	CA	(0.068)	(0.106)		0.021
Autodesk	CA	(0.028)			0.127
Marvell Technology Group	CA	(0.012)			0.451
Trimble	CA	(0.009)			0.015
Juniper Networks	CA	(0.001)	(0.311)		0.138
Square	CA	-			0.039
Snap Inc	CA	-			0.002
Advanced Micro Devices	CA	-	(0.158)		0.768
Splunk	CA	0.001			0.049
Workday	CA	0.004			0.780
Palo Alto Networks	CA	0.005			0.069
Twitter	CA	0.006			0.252
ServiceNow	CA	0.011			0.051
Maxim Integrated Products	CA	0.041	(0.014)		0.071
Align Technology	CA	0.068			0.001
Arista Networks	CA	0.070			0.015
Check Point Software	CA	0.101	(0.010)
Atlassian Corp plc	CA	0.121
Flex Ltd	CA	0.148
Cadence Design Systems	CA	0.257	(0.025)		0.181
Synopsys	CA	0.281			0.147
Electronic Arts	CA	0.285	(0.070)		0.276
KLA-Tencor	CA	0.290	(0.013)
Agilent Technologies	CA	0.321	(0.053)	0.136
NetApp	CA	0.524
Seagate Technology	CA	0.604	(0.007)
eBay	CA	3.155	(1.578)
Hewlett Packard Enterprise	CA	4.287	(3.708)	1.590
PG&E Corp	CA	(10.213)			0.167
America Honda Finance Corp	CA	(8.792)
Edison Intl	CA	(8.239)		0.287	0.499
McKesson	CA	(3.650)
Sempra Energy	CA	(3.511)	0.434		0.431
Equinix	CA	(0.212)
Franklin Resources	CA	(0.155)
Digital Realty Trust	CA	(0.154)
Ross Stores	CA	(0.121)
Clorox	CA	(0.023)	(0.007)
Public Storage	CA	-
Essex Property Trust	CA	-
Realty Income	CA	-
Alexandria Real Estate Equities	CA	-
Cooper Cos	CA	0.016			0.002
CBRG Group	CA	0.035		0.029	0.054
HCP Inc	CA	0.036
ResMed	CA	0.048
Prologis	CA	0.052
SVB Financial Group	CA	0.072
Varian Medical Systems	CA	0.119	(0.016)
Illumina	CA	0.122			0.043
Monster Beverage	CA	0.160
Edwards Lifescience	CA	0.195	(0.006)		0.046
First Republic Bank	CA	0.234			0.017
Gap Inc	CA	0.249	(0.058)
Avery Dennison	CA	0.303	(0.062)	0.208	0.111
BioMarin Pharma	CA	0.447			0.353
Apple	CA	(27.588)	(36.355)
Broadcom	CA	(9.979)	(10.954)
Visa	CA	(5.899)
Paypal	CA	(1.194)	(1.246)
salesforce.com	CA	(0.907)			0.241
Intel	CA	(0.823)
Adobe Systems	CA	(0.218)	(0.293)		0.063
Nvidia	CA	(0.134)	(0.827)		0.728
Alphabet	CA	0.062	(3.468)		0.503
Intuit	CA	0.125
Netflix	CA	0.227			0.107
Activision Blizzard	CA	0.239			0.071
Applied Materials	CA	0.371	(0.042)
VMware	CA	0.462
Facebook	CA	0.854	(0.357)		0.268
Qualcomm	CA	2.667			1.798
Cisco Systems	CA	3.968
Chevron	CA	(12.867)		4.392	10.970
Wells Fargo	CA	(7.051)
Walt Disney	CA	(4.311)
Amgen	CA	(2.383)
Tesla	CA	0.026			0.315
Charles Schwab	CA	0.143
Intuitive Surgical	CA	0.150			0.016
Gilead Sciences	CA	1.255			0.147	86	(89.105)
Liberty Interactive	CO	(3.636)			0.134
DISH Network	CO	(2.595)
Liberty Media Corp	CO	(2.025)
Molson Coors Brewing	CO	(1.624)
.IHS Markit Ltd	CO	(0.980)
DaVita	CO	(0.809)
Liberty Broadband	CO	(0.505)
Cimarex Energy	CO	(0.127)
UDR Inc	CO	0.001
Ball Corp	CO	0.004
Newmont Mining	CO	0.739	(0.006)
Level 3 Parent	CO	3.122				12	(8.435)
Amphenol	CT	(0.048)		0.065
United Rentals	CT	(1.896)
Stanley Black & Decker	CT	(0.588)	(0.261)
Alexion Pharmaceuticals	CT	(0.378)			0.537
Gartner	CT	0.005
Interactive Brokers Group	CT	0.294
Synchrony Financial	CT	0.633
Hartford Financial Group	CT	3.281			0.795
Priceline Group	CT	(0.799)
Charter Communications	CT	(26.665)
Praxair	CT	(1.024)		0.352
United Technologies	CT	(0.035)		2.382	0.873
Aetna	CT	(0.004)		0.196
Cigna	CT	0.304		0.481		14	(26.920)
CoStar Group	DC	0.005
Danaher	DC	(2.852)		0.392		2	(2.847)
Incyte Corp	DE	-			0.250
DuPont	DE	2.877		4.119		2	2.877
Citrix Systems	FL	0.250			0.050
Harris Corp	FL	0.375	(0.047)	0.509
Fidelity Natl Info Services	FL	(2.362)
Restaurant Brands Intl	FL	(1.705)
Roper Technologies	FL	(1.148)			0.008
Fidelity National Financial	FL	(0.629)		0.005	0.041
Affiliated Managers Group	FL	(0.566)
Publix Super Markets	FL	(0.396)		0.105	0.033
Darden Restaurants	FL	(0.146)
SBA Comminications	FL	(0.027)
Royal Caribbean Cruises	FL	-
Norwegian Cruise Line Hldgs	FL	-
Regency Centers Corp	FL	-
Lennar Group	FL	0.277
Raymond James Financial	FL	0.313
Next Era Energy	FL	(10.640)		(0.309)	3.059
CSX Corp	FL	(9.596)		0.125
Carnival	FL	-				18	(26.000)
AFLAC	GA	(5.056)		(0.013)
WestRock	GA	(3.378)		(0.091)	0.191
PulteGroup	GA	1.049			0.100
FleetCor Technologies	GA	(0.666)
Global Payments	GA	(0.661)			0.007
Total System Services	GA	(0.412)
Mohawk Industries	GA	(0.327)
Equifax	GA	(0.321)	(0.030)	0.046	0.057
Invesco Ltd	GA	(0.291)		0.024
Sun Trust Banks	GA	(0.232)
Rollins	GA	0.042			0.018
Genuine Parts	GA	0.084		0.121
Delta Airlines	GA	3.064		5.259	0.379
Southern Co	GA	(14.092)		1.131	1.974
Coca Cola	GA	(4.039)		1.112
InterContinental Exchange	GA	(2.954)		0.089	0.064
Home Depot	GA	(0.205)
United Parcel Service	GA	0.479		4.236		18	(27.916)
Principal Financial Group	IA	(0.869)			0.276
Rockwell Collins	IA	(0.310)		0.400	0.025
Athene Holding Ltd	IA	0.365			0.018	3	(0.814)
Micron Technology	ID	0.749	(0.123)			1	0.749
CDW Corp	IL	(0.369)
Motorola Solutions	IL	2.098	(0.027)	0.693
Archer Daniels Midland	IL	(1.511)		0.307	0.095
Dover	IL	(0.684)		0.122
TransUnion	IL	(0.579)	(0.050)
Northern Trust	IL	(0.553)
Allstate	IL	(0.487)		0.358
Conagra Brands	IL	(0.448)		0.275
Packaging Corp of America	IL	(0.335)		0.137
Ventas	IL	(0.317)
LKQ Corp	IL	(0.196)		0.037
IDEX Corp	IL	(0.164)
Ingredion	IL	(0.164)		0.030	0.004
Fortune Brands Home & Security	IL	(0.154)		0.083
Ulta Beauty	IL	(0.086)
Equity Residential	IL	-
GGP	IL	0.003
CBOE Global Markets	IL	0.003
WW Grainger	IL	0.069
.CNA Financial	IL	0.379
Arthur J Gallagher	IL	0.425		0.023	0.478
Discover Financial Services	IL	0.510
Baxter Intl	IL	0.536	(0.145)	0.411	0.380
United Continental	IL	0.655		1.662	0.116
CNH Industrial NV	IL	0.853		0.553
Accenture	IL	2.078		0.295	1.420
Exelon Corp	IL	(17.457)	-	2.287	0.446
CME Group	IL	(7.291)
AbbVie	IL	(6.665)		0.665
Mondelez Intl	IL	(4.363)		0.584
Walgreens Boots Alliance	IL	(2.274)		0.134
McDonalds	IL	(0.828)
Illinois Tool Works	IL	0.315		0.025	0.006
Abbott Labs	IL	1.670
Caterpillar	IL	2.446	(0.285)	3.205
Deere & Co	IL	2.798	(0.030)	2.897		36	(30.087)
Zimmer Biomet	IN	(2.809)	(1.159)		0.110
Duke Realty	IN	-
Cummins	IN	0.344	(0.059)
Anthem	IN	(2.780)		0.096
Eli Lilly	IN	(0.216)	(0.674)	0.861	0.459
Simon Property Group	IN	-				6	(5.461)
Garmin Ltd	KS	0.049			0.005
Sprint	KS	(14.416)			0.340	2	(14.367)
Brown-Forman	KY	(0.084)		0.183
Humana	KY	0.399
Yum! Brands	KY	0.768			0.284	3	1.083
Entergy Corp	LA	(7.377)		0.109
CenturyLink	LA	(3.463)		2.175		2	(10.840)
Analog Devices	MA	(1.642)	(0.064)		0.068
Cognex	MA	0.028
IPG Photonics	MA	0.032			0.005
Skywork Solutions	MA	0.057			0.091
Waters Corp	MA	0.062
Eversource Energy	MA	(5.607)
State Street Corp	MA	(0.037)		0.116	0.425
Hologic	MA	(0.965)			0.014
Vertex Pharmaceuticals	MA	(0.134)			(0.367)
Iron Mountain	MA	(0.033)
Boston Properties	MA	-
Alnylam Pharmaceuticals	MA	-			0.115
Thermo Fisher Scientific	MA	(2.175)	(0.156)
American Tower	MA	(0.582)
Biogen	MA	(0.490)			0.201
TJX Cos	MA	(0.308)	(0.214)
Boston Scientific	MA	0.062
Raytheon	MA	0.746		2.477
General Electric	MA	1.833		15.193		19	(9.153)
McCormick Co	MD	(0.031)		0.185
Host Hotels & Resorts	MD	0.071			0.008
T Rowe Price Group	MD	0.114
Marriott	MD	(0.904)			0.079
Lockheed Martin	MD	6.589		5.499		5	5.839
IDEXX Labs	ME	(0.034)				1	(0.034)
DTE Energy	MI	(4.162)		0.324	0.643
CMS Energy	MI	(2.287)
Kellogg	MI	(0.355)
Perrigo Co plc	MI	(0.318)			0.011
Masco Corp	MI	0.048			0.009
Delphi Automative plc	MI	0.125		0.175
Autoliv	MI	0.177		0.067
BorgWarner	MI	0.370		0.039	0.140
Lear Corp	MI	0.459	(0.062)	0.089	0.188
Ally Financial	MI	0.976			1.987
Whirlpool	MI	2.036		0.466	1.274
Stryker	MI	0.247	(0.050)
Dow Chemical	MI	2.156		3.640
Ford Motor	MI	11.007		6.620	6.456
General Motors	MI	34.588		8.421		15	45.067
Xcel Energy	MN	(6.784)			0.498
General Mills	MN	(1.719)		0.196	0.018
Ecolab	MN	(0.878)		0.265	0.022
Target	MN	(0.825)
Pentair plc	MN	(0.571)		0.049
Fastenal	MN	(0.081)
CH Robinson Worldwide	MN	(0.063)
Hormel Foods	MN	0.006
Best Buy	MN	0.317
Travelers Cos	MN	0.465
Ameriprise Financial	MN	0.619		0.062
UnitedHealth Group	MN	(2.761)
Medtronic	MN	(1.631)		0.456
US Bancorp	MN	(0.479)		0.394
3M	MN	0.277		1.217		15	(14.108)
Cerner	MO	(0.239)
Ameren Corp	MO	(4.264)		0.211	0.676
Express Scripts	MO	(3.572)
Reinsurance Group of America	MO	(2.704)
Kansas City Southern	MO	(1.289)
Centene	MO	(0.303)
O'Reilly Automotive	MO	(0.090)			0.009
Emerson Electric	MO	0.226	(0.009)	0.353
Monsanto	MO	0.372				9	(11.863)
Qorvo	NC	(0.114)			0.093
Red Hat	NC	0.102			0.010
IQVIA Holdings	NC	(2.044)	(0.590)		0.267
Lab Corp of America	NC	(1.179)		0.002
Martin Marietta Materials	NC	(0.663)		0.083	0.003
Ingersoll Rand plc	NC	(0.616)		0.646	0.057
Nucor	NC	(0.559)		0.012	0.180
Albemarle	NC	(0.352)		0.097	0.001
Old Dominion Freight	NC	(0.270)
VF Corp	NC	(0.178)
BB&T Corp	NC	0.090		(0.107)
Sealed Air	NC	0.160	(0.020)		0.144
Duke Energy	NC	(14.155)		0.561	3.153
Reynolds America	NC	(9.607)		0.759
Lowe's	NC	0.200
Bank of America	NC	19.226		2.677	3.125	16	(9.959)
TD Ameritrade	NE	(0.193)
Berkshire Hathaway	NE	(76.959)
Union Pacific	NE	(15.996)		0.222	0.145	3	(93.148)
Verisk Analytics	NJ	(0.307)
Public Service Enterprise Group	NJ	(8.409)		0.086
Newell Brands	NJ	(4.988)		0.194	0.034
American Water Works	NJ	(2.596)		0.173
Wyndham Worldwide	NJ	(1.184)		0.098	0.084
Church & Dwight	NJ	(0.511)		0.008
Campbell Soup	NJ	(0.454)		0.098
Quest Diagnostics	NJ	(0.159)
Zoetis	NJ	(0.148)
CR Bard	NJ	(0.046)
Cognizant Technology	NJ	0.419			0.274
Allergan	NJ	(12.736)
Prudential Financial	NJ	(10.795)	(0.380)
Merck	NJ	(4.531)	(2.044)	0.727
Becton Dickinson	NJ	(0.776)
Honeywell	NJ	(0.139)		0.673
Automatic Data Processing	NJ	(0.070)		(0.125)	0.050
Celgene	NJ	0.138	(0.317)		0.014
Johnson & Johnson	NJ	3.238		2.958		19	(44.054)
MGM Resorts	NV	(2.551)			2.824
Wynn Resorts Ltd	NV	(0.067)			3.272
Las Vegas Sands	NV	(0.200)			3.953	3	(2.818)
IAC/Interactive Corp	NY	(0.226)			0.012
Take-Two Interactive Software	NY	(0.036)			0.053
CA Inc	NY	0.208
Corning Intl	NY	2.008		0.283
Consolidated Edison	NY	(10.034)		(0.581)	0.498
Altice USA	NY	(7.967)
Thomson Reuters	NY	(1.107)
Hess Corp	NY	(1.085)			0.164
Nielsen Holdings plc	NY	(1.048)			0.130
PVH Corp	NY	(0.860)
Coty Inc	NY	(0.852)
Loews Corp	NY	(0.621)			0.289
CBS Corp	NY	(0.580)		0.843
Xylem	NY	(0.547)
Omnicom Group	NY	(0.481)	(0.016)
First Data	NY	(0.394)	(0.252)	(0.004)	0.252
Viacom	NY	(0.254)		0.348
L3 Technologies	NY	(0.234)		0.415	0.006
MSCI Inc	NY	(0.085)		0.002
Broadridge Financial Solutions	NY	(0.054)			0.004
Henry Schein	NY	(0.035)
Paychex	NY	(0.034)			0.039
Nasdaq Inc	NY	(0.003)			0.007
SL Green Realty	NY	-
Vornado Realty Trust	NY	-
Annaly Capital Mgt Inc	NY	-
Intl Flavors & Fragrances	NY	0.096
Tapestry	NY	0.107
Moodys	NY	0.212
Arch Capital Group Ltd	NY	0.221			0.012
Tiffany	NY	0.300		0.125
M&T Bank	NY	0.565		0.196
Apollo Global Mgt LLC	NY	0.572			0.012
E*Trade Financial	NY	0.756			0.055
Sirius XM Holdings	NY	1.078
Arconic	NY	1.095		1.382	0.652
Blackstone Group	NY	1.286
Mastercard	NY	0.226			0.041
IBM	NY	4.799		4.265
Verizon	NY	(45.964)
Pfizer	NY	(30.099)	(23.108)	3.282
Metlife	NY	(9.367)		-	1.574
BlackRock	NY	(4.820)			0.118
PepsiCo	NY	(4.434)		0.735
Bank of NY Mellon	NY	(2.851)
Time Warner	NY	(2.553)
Constellation Brands	NY	(1.132)	(0.229)
Phillip Morris	NY	(1.038)	(0.636)	0.543
JPMorgan Chase	NY	(0.205)		2.911
S&P Global	NY	0.013		0.105
Colgate-Palmolive	NY	0.055		0.599
Estee Lauder	NY	0.322		0.124
Regeneron Pharmaceuticals	NY	0.825
Marsh & McLennan	NY	0.897		0.629
American Express	NY	2.255
Bristol-Myers Squibb	NY	2.949		0.358
Goldman Sachs	NY	3.680		0.757
Morgan Stanley	NY	4.767
American Intl Group	NY	20.712			4.917
Citigroup	NY	46.668	9.311	3.798	14.200	60	(32.328)
Mettler Toledo	OH	(0.030)		0.035
American Electric Power	OH	(11.884)			0.045
FirstEnergy	OH	(3.765)		1.347
Kroger	OH	(2.178)
JM Smucker	OH	(2.167)
Cardinal Health	OH	(1.876)
Cincinnati Financial	OH	(0.865)
Fifth Third Bancorp	OH	(0.787)
TransDigm Group	OH	(0.501)	(0.011)
Cintas	OH	(0.469)
L Brands	OH	(0.333)		0.096
Parker-Hannifin	OH	(0.186)		0.571	0.023
Progressive Corp	OH	(0.111)
Sherwin-Williams	OH	(0.008)
Welltower	OH	(0.005)
MPLX LP	OH	(0.005)
Eaton Corp	OH	0.039			0.245
Huntington Bancshares	OH	0.117		0.035	0.076
Key Corp	OH	0.607
Vantiv	OH	0.713
Procter & Gamble	OH	(6.104)		1.775		21	(29.798)
Williams Cos	OK	(4.238)			0.279
Continental Resources	OK	(1.890)			0.017
ONEOK	OK	(1.624)
Devon Energy	OK	(0.648)		0.098
Magellan Midstream Partners LP	OK	-				5	(8.400)
Nike	OR	1.024	0.173		0.208	1	1.024
Ansys	PA	0.040			0.004
PPL Corp	PA	(3.862)		0.291	0.256
Lincoln National	PA	(2.463)			0.085
AmerisourceBergen	PA	(2.493)
EQT Corp	PA	(1.760)			0.224
Mylan NV	PA	(1.373)
Air Products & Chemicals	PA	(0.604)	(0.021)	0.370	0.076
Dentsply Sirona	PA	(0.657)			0.138
Ametek	PA	(0.572)
Aramark	PA	(0.553)
Teleflex	PA	(0.270)		0.047
PPG Industries	PA	(0.263)	(0.189)
Universal Health Services	PA	(0.087)		0.006
SEI Investments	PA	(0.068)
Hershey	PA	0.017		0.115
FMC Corp	PA	0.077		0.041
TE Connectivity	PA	1.905		0.231	0.234
Comcast	PA	(34.813)
Kraft Heinz	PA	(20.795)		1.025
PNC Financial	PA	(2.366)
Chubb Ltd	PA	(0.988)	(2.001)		2.115	21	(71.948)
Citizens Financial Group	RI	(0.714)		(0.103)	0.052
Hasbro	RI	0.207		0.048
Textron	RI	0.669		0.529
CVS Health	RI	(4.214)		0.065		4	(4.052)
International Paper	TN	(2.773)		1.509	0.270
Eastman Chemical	TN	(1.172)		0.378	0.248
Dollar General	TN	(0.653)
AutoZone	TN	(0.336)
Unum Group	TN	(0.130)
Mis-America Apt Communities	TN	-
Scripps Networks Interactive	TN	0.175
HCA Healthcare	TN	0.846
FedEx	TN	(1.810)				9	(5.853)
Dell Technologies	TX	(4.912)			0.511
Toyota Motor Credit Corp	TX	(7.926)
Valero Energy	TX	(7.361)			0.065
CenterPoint Energy	TX	(5.263)
Anadarko Petroleum	TX	(4.310)			1.834
Marathon Petroleum Corp	TX	(3.844)
Southwest Air Lines	TX	(3.374)
Marathon Oil Corp	TX	(2.102)			4.465
Atmos Energy	TX	(1.879)		-	0.019
Noble Energy Inc	TX	(1.819)
Torchmark Inc	TX	(1.760)
Apache	TX	(1.705)			2.288
Westlake Chemical Corp	TX	(1.638)		0.114
Waste Management	TX	(1.482)
Andeavor	TX	(1.428)		0.152	0.008
Pioneer Natural Resources	TX	(1.397)			0.107
National Oilwell Varco	TX	(0.978)	(0.053)	0.060	0.405
Waste Connections	TX	(0.779)
Concho Resources	TX	(0.766)
Dr Pepper Snapple	TX	(0.750)		0.014
Cabot Oil & Gas	TX	(0.579)		0.014	0.223
Alliance Data Systemd	TX	(0.315)
SYSCO Corp	TX	(0.019)		0.361
Copart	TX	(0.002)			0.011
Plains All America Pipeline LP	TX	-
Invitation Homes Inc	TX	-
Cheniere Energy Inc	TX	-
Diamondback Energy	TX	-
Celanese	TX	0.029		0.313	0.136
FMC Technologies	TX	0.076	(0.020)	0.072	0.082
Baker Hughes	TX	0.095	(0.027)		0.214
Yum! China Holdings	TX	0.136
Comerica	TX	0.217
Whole Foods Market	TX	0.289
D R Horton	TX	0.365			0.003
American Airlines	TX	1.487		2.886	0.456
Halliburton	TX	1.919	(0.406)		0.648
Kinder Morgan Inc	TX	4.352			0.175
Texas Instruments	TX	0.341	-	0.082
AT&T	TX	(58.717)		-
Exxon Mobil	TX	(29.921)		6.053
ConocoPhillips	TX	(8.549)		1.280
Phillips 66	TX	(6.651)		-	0.148
EOG Resources	TX	(5.012)	(0.280)		0.758
LyondellBasell Industries	TX	(2.139)
Schlumberger	TX	(1.880)
Occidental Petroleum	TX	(1.132)		0.342	2.458
Kimberly Clark	TX	(0.298)		0.499
Crown Castle	TX	0.036				49	(161.345)
Extra Space Storage	UT	(0.010)
Zions Bancorp	UT	0.250		0.019		2	0.240
Verisign	VA	(0.362)			0.059
Computer Sciences	VA	0.143		0.172
Norfolk Southern	VA	(9.140)		0.465
Hilton Worldwide Holdings	VA	(4.458)
Dollar Tree	VA	(1.459)
Willis Towers Watson	VA	(0.814)		0.382
Markel	VA	(0.330)			0.023
Avalon Bay Comminities	VA	-
CarMax	VA	0.151
NVR Inc	VA	0.181
Huntington Ingalls Industries	VA	0.314		0.568
Dominion Energy	VA	(8.554)		0.087	1.087
Altria Group	VA	(8.064)		1.282
General Dynamics	VA	0.037		1.461
Northrop Grumman	VA	1.462		2.814
Capital One Financial	VA	4.310				16	(26.583)
Expedia	WA	(0.461)
Fortive	WA	(0.247)		0.049
PACCAR	WA	(0.672)		0.012
Expeditors Intl of Washington	WA	(0.014)	(0.120)
Weyerhaeuser	WA	0.293		0.471	0.046
Amazon	WA	0.082			0.041
Microsoft	WA	1.881	(1.107)
T-Mobile US	WA	(4.938)			0.284
Boeing	WA	(1.006)		10.878
Costco	WA	(0.058)			0.036
Starbucks	WA	0.789				11	(4.351)
WEC Energy	WI	(5.147)
Alliant Energy	WI	(2.570)			0.268
Fiserv	WI	(0.736)
AO Smith	WI	0.004
Rockwell Automation	WI	0.444		0.306	0.015
Johnson Controls Intl plc	WI	0.627		0.013	0.468	6	(7.378)
Total all 526 US Companies		(741.432)	(94.550)	163.708	114.891	526	(741.432)