|Name of Issuer||Market Value (x$1000)||% of 13F Holdings||12/31/18 Price|
|ALTRIA GROUP INC||14,183||3.73%||$49.39|
|PHILIP MORRIS IN||12,359||3.25%||$66.76|
|WALT DISNEY CO||10,711||2.82%||$109.65|
|EXXON MOBIL CORP||10,281||2.70%||$68.19|
|TWENTY-FIRST - B||9,657||2.54%||$47.78|
For a complete list of 13F holdings, please see our most recent Form 13F filing on the following SEC website: http://www.sec.gov/edgar/searchedgar/companysearch.html
RBO claims compliance with the Global Investment Performance Standards (GIPS®). RBO has been independently verified for the periods January 1, 2004 through December 31, 2018. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation. For a complete GIPS performance presentation and/or a list of all firm composite descriptions, please contact us directly.
RBO is an independent investment advisory firm established in 1980. RBO is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. RBO is headquartered in Saint Helena, CA.