# EDGAR Filing Document

**Accession Number:** 0001033974
**File Stem:** 0001033974-23-000002
**Filing Date:** 2023-1
**Character Count:** 16591
**Document Hash:** 4ea22f43ad0f3d07fe47d0e389fc274d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001033974-23-000002.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001033974-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**EFFECTIVENESS DATE**: 20230125

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI
- **CENTRAL INDEX KEY:** 0001033974
- **IRS NUMBER:** 391705450
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06036
- **FILM NUMBER:** 23551585

**BUSINESS ADDRESS:**
- **STREET 1:** 40 JEWELERS PARK DR
- **STREET 2:** STE 200
- **CITY:** NEENAH
- **STATE:** WI
- **ZIP:** 54957
- **BUSINESS PHONE:** 920-727-1137

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 628
- **CITY:** NEENAH
- **STATE:** WI
- **ZIP:** 54957-0628

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCHAPER & BENZ INVESTMENT  COUNSEL INC/WI
- **DATE OF NAME CHANGE:** 19981030

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SCHAPER BENZ  WISE INVESTMENT COUNSEL INC/WI<br>**Address:** P.O. BOX 628<br>NEENAH, WI 54957-0628

**Form 13F File Number:** 028-06036

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Mark Sprtel<br>**Title:** Chief Compliance Officer  Investment Officer<br>**Phone:** 920-727-1137

**Signature, Place, and Date of Signing:**

Mark Sprtel  Neenah, WI  01-25-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 136

**Form 13F Information Table Value Total:** $938039405

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Amazon.com | Stock | 023135106 |  | 4005540 | 47685 | SH |  | SOLE | 0 | 47685 | 0 | 0 |
| Global Payments | Stock | 37940X102 |  | 8548274 | 86068 | SH |  | SOLE | 0 | 86068 | 0 | 0 |
| Sealed Air | Stock | 81211K100 |  | 598360 | 11996 | SH |  | SOLE | 0 | 11996 | 0 | 0 |
| Invesco QQQ Trust | ETF | 46090E103 |  | 218152 | 819 | SH |  | SOLE | 0 | 819 | 0 | 0 |
| Stericycle | Stock | 858912108 |  | 3279020 | 65725 | SH |  | SOLE | 0 | 65725 | 0 | 0 |
| Starbucks | Stock | 855244109 |  | 12955917 | 130604 | SH |  | SOLE | 0 | 130604 | 0 | 0 |
| Johnson  Johnson | Stock | 478160104 |  | 16684444 | 94449 | SH |  | SOLE | 0 | 94449 | 0 | 0 |
| Vanguard Total Stock Market Index Fund | ETF | 922908769 |  | 357732 | 1871 | SH |  | SOLE | 0 | 1871 | 0 | 0 |
| Costco Wholesale | Stock | 22160K105 |  | 393151 | 861 | SH |  | SOLE | 0 | 861 | 0 | 0 |
| Shell plc ADR | ADR | 780259305 |  | 208722 | 3665 | SH |  | SOLE | 0 | 3665 | 0 | 0 |
| Procter  Gamble | Stock | 742718109 |  | 2898037 | 19121 | SH |  | SOLE | 0 | 19121 | 0 | 0 |
| Coca-Cola | Stock | 191216100 |  | 3173252 | 49886 | SH |  | SOLE | 0 | 49886 | 0 | 0 |
| Truist Financial | Stock | 89832Q109 |  | 8325815 | 193489 | SH |  | SOLE | 0 | 193488 | 0 | 0 |
| Intel | Stock | 458140100 |  | 11027680 | 417241 | SH |  | SOLE | 0 | 417241 | 0 | 0 |
| Medtronic | Stock | G5960L103 |  | 10847458 | 139571 | SH |  | SOLE | 0 | 139571 | 0 | 0 |
| Paychex | Stock | 704326107 |  | 20224849 | 175016 | SH |  | SOLE | 0 | 175016 | 0 | 0 |
| Blackbaud | Stock | 09227Q100 |  | 518086 | 8802 | SH |  | SOLE | 0 | 8802 | 0 | 0 |
| iShares Silver Trust | ETF | 46428Q109 |  | 212955 | 9671 | SH |  | SOLE | 0 | 9671 | 0 | 0 |
| Waters | Stock | 941848103 |  | 35071970 | 102376 | SH |  | SOLE | 0 | 102376 | 0 | 0 |
| Merck | Stock | 58933Y105 |  | 11334097 | 102155 | SH |  | SOLE | 0 | 102155 | 0 | 0 |
| SPDR S 500 ETF | ETF | 78462F103 |  | 3026700 | 7914 | SH |  | SOLE | 0 | 7914 | 0 | 0 |
| Mastercard | Stock | 57636Q104 |  | 359901 | 1035 | SH |  | SOLE | 0 | 1035 | 0 | 0 |
| Plexus | Stock | 729132100 |  | 844849 | 8208 | SH |  | SOLE | 0 | 8208 | 0 | 0 |
| Diageo ADR | ADR | 25243Q205 |  | 5651652 | 31717 | SH |  | SOLE | 0 | 31717 | 0 | 0 |
| Verizon | Stock | 92343V104 |  | 275761 | 6999 | SH |  | SOLE | 0 | 6999 | 0 | 0 |
| PepsiCo | Stock | 713448108 |  | 1740298 | 9633 | SH |  | SOLE | 0 | 9633 | 0 | 0 |
| Kimberly-Clark | Stock | 494368103 |  | 16802221 | 123773 | SH |  | SOLE | 0 | 123773 | 0 | 0 |
| U.S. Bancorp | Stock | 902973304 |  | 12242417 | 280725 | SH |  | SOLE | 0 | 280725 | 0 | 0 |
| SPDR Bloomberg Convertible Securities ETF | ETF | 78464A359 |  | 1570025 | 24402 | SH |  | SOLE | 0 | 24402 | 0 | 0 |
| Home Depot | Stock | 437076102 |  | 19992385 | 63295 | SH |  | SOLE | 0 | 63295 | 0 | 0 |
| Automatic Data Processing | Stock | 053015103 |  | 20122044 | 84242 | SH |  | SOLE | 0 | 84242 | 0 | 0 |
| Fair Isaac | Stock | 303250104 |  | 635093 | 1061 | SH |  | SOLE | 0 | 1061 | 0 | 0 |
| SPDR Gold Shares | ETF | 78463V107 |  | 832084 | 4905 | SH |  | SOLE | 0 | 4905 | 0 | 0 |
| The Southern Company | Stock | 842587107 |  | 5601400 | 78440 | SH |  | SOLE | 0 | 78440 | 0 | 0 |
| iShares Core S Small-Cap ETF | ETF | 464287804 |  | 357550 | 3778 | SH |  | SOLE | 0 | 3778 | 0 | 0 |
| Berkshire Hathaway | Stock | 084670702 |  | 20829745 | 67432 | SH |  | SOLE | 0 | 67432 | 0 | 0 |
| Adobe | Stock | 00724F101 |  | 24502413 | 72809 | SH |  | SOLE | 0 | 72809 | 0 | 0 |
| Alphabet A | Stock | 02079K305 |  | 12409638 | 140651 | SH |  | SOLE | 0 | 140651 | 0 | 0 |
| Intuit | Stock | 461202103 |  | 11339535 | 29134 | SH |  | SOLE | 0 | 29134 | 0 | 0 |
| Spotify Technology | Stock | L8681T102 |  | 1559894 | 19758 | SH |  | SOLE | 0 | 19758 | 0 | 0 |
| Comcast | Stock | 20030N101 |  | 15533045 | 444182 | SH |  | SOLE | 0 | 444182 | 0 | 0 |
| Microsoft | Stock | 594918104 |  | 11733785 | 48927 | SH |  | SOLE | 0 | 48927 | 0 | 0 |
| SS Technologies | Stock | 78467J100 |  | 10102042 | 194046 | SH |  | SOLE | 0 | 194046 | 0 | 0 |
| Schlumberger | Stock | 806857108 |  | 12791535 | 239273 | SH |  | SOLE | 0 | 239273 | 0 | 0 |
| Evergy | Stock | 30034W106 |  | 5771122 | 91707 | SH |  | SOLE | 0 | 91707 | 0 | 0 |
| V.F. Corporation | Stock | 918204108 |  | 239185 | 8663 | SH |  | SOLE | 0 | 8663 | 0 | 0 |
| Berkshire Hathaway Class A | Stock | 084670108 |  | 2812266 | 6 | SH |  | SOLE | 0 | 6 | 0 | 0 |
| Ovintiv | Stock | 69047Q102 |  | 7770547 | 153235 | SH |  | SOLE | 0 | 153235 | 0 | 0 |
| Nike | Stock | 654106103 |  | 10512763 | 89845 | SH |  | SOLE | 0 | 89845 | 0 | 0 |
| Align Technology | Stock | 016255101 |  | 6105555 | 28950 | SH |  | SOLE | 0 | 28950 | 0 | 0 |
| Linde plc | Stock | G5494J103 |  | 19411624 | 59512 | SH |  | SOLE | 0 | 59512 | 0 | 0 |
| Kimco Realty | REIT | 49446R109 |  | 7875974 | 371859 | SH |  | SOLE | 0 | 371859 | 0 | 0 |
| Walgreens Boots Alliance | Stock | 931427108 |  | 10425457 | 279054 | SH |  | SOLE | 0 | 279054 | 0 | 0 |
| Uber Technologies | Stock | 90353T100 |  | 3408684 | 137836 | SH |  | SOLE | 0 | 137836 | 0 | 0 |
| Amcor plc | Stock | G0250X107 |  | 6226095 | 522762 | SH |  | SOLE | 0 | 522762 | 0 | 0 |
| Nicolet Bankshares | Stock | 65406E102 |  | 508980 | 6379 | SH |  | SOLE | 0 | 6379 | 0 | 0 |
| Duke Energy | Stock | 26441C204 |  | 5109849 | 49615 | SH |  | SOLE | 0 | 49615 | 0 | 0 |
| Aflac | Stock | 001055102 |  | 23558983 | 327481 | SH |  | SOLE | 0 | 327481 | 0 | 0 |
| Sysco | Stock | 871829107 |  | 19899476 | 260294 | SH |  | SOLE | 0 | 260294 | 0 | 0 |
| Match Group | Stock | 57667L107 |  | 600070 | 14463 | SH |  | SOLE | 0 | 14463 | 0 | 0 |
| Regeneron Pharmaceuticals | Stock | 75886F107 |  | 12693895 | 17594 | SH |  | SOLE | 0 | 17594 | 0 | 0 |
| Tractor Supply | Stock | 892356106 |  | 224970 | 1000 | SH |  | SOLE | 0 | 1000 | 0 | 0 |
| Organon | Stock | 68622V106 |  | 1544278 | 55291 | SH |  | SOLE | 0 | 55291 | 0 | 0 |
| Visa | Stock | 92826C839 |  | 14384695 | 69237 | SH |  | SOLE | 0 | 69237 | 0 | 0 |
| Meta Platforms | Stock | 30303M102 |  | 2152762 | 17889 | SH |  | SOLE | 0 | 17889 | 0 | 0 |
| Nuveen Municipal Credit Income Fund | CEF | 67070X101 |  | 120800 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| Canadian Pacific Railway | Stock | 13645T100 |  | 3270846 | 43851 | SH |  | SOLE | 0 | 43851 | 0 | 0 |
| iShares Core MSCI EAFE ETF | ETF | 46432F842 |  | 336948 | 5466 | SH |  | SOLE | 0 | 5466 | 0 | 0 |
| SLM Corporation | Stock | 78442P106 |  | 4620710 | 278356 | SH |  | SOLE | 0 | 278356 | 0 | 0 |
| Enbridge | Stock | 29250N105 |  | 8027543 | 205308 | SH |  | SOLE | 0 | 205308 | 0 | 0 |
| NVIDIA | Stock | 67066G104 |  | 1617866 | 11071 | SH |  | SOLE | 0 | 11070 | 0 | 0 |
| AbbVie | Stock | 00287Y109 |  | 969651 | 6000 | SH |  | SOLE | 0 | 5999 | 0 | 0 |
| Ansys | Stock | 03662Q105 |  | 4639736 | 19205 | SH |  | SOLE | 0 | 19205 | 0 | 0 |
| Verisign | Stock | 92343E102 |  | 1280918 | 6235 | SH |  | SOLE | 0 | 6235 | 0 | 0 |
| Stryker | Stock | 863667101 |  | 26849427 | 109818 | SH |  | SOLE | 0 | 109818 | 0 | 0 |
| Fastenal Company | Stock | 311900104 |  | 645492 | 13641 | SH |  | SOLE | 0 | 13641 | 0 | 0 |
| Intuitive Surgical | Stock | 46120E602 |  | 6096416 | 22975 | SH |  | SOLE | 0 | 22975 | 0 | 0 |
| McDonald's | Stock | 580135101 |  | 457752 | 1737 | SH |  | SOLE | 0 | 1737 | 0 | 0 |
| Ametek | Stock | 031100100 |  | 14594313 | 104454 | SH |  | SOLE | 0 | 104454 | 0 | 0 |
| Cisco Systems | Stock | 17275R102 |  | 25788103 | 541312 | SH |  | SOLE | 0 | 541311 | 0 | 0 |
| APA | Stock | 03743Q108 |  | 1147402 | 24580 | SH |  | SOLE | 0 | 24580 | 0 | 0 |
| Advanced Micro Devices | Stock | 007903107 |  | 10983826 | 169582 | SH |  | SOLE | 0 | 169582 | 0 | 0 |
| General Electric | Stock | 369604301 |  | 3336937 | 39825 | SH |  | SOLE | 0 | 39825 | 0 | 0 |
| Wells Fargo | Stock | 949746101 |  | 14942273 | 361886 | SH |  | SOLE | 0 | 361886 | 0 | 0 |
| Union Pacific | Stock | 907818108 |  | 19997414 | 96573 | SH |  | SOLE | 0 | 96573 | 0 | 0 |
| Ecolab | Stock | 278865100 |  | 7053983 | 48461 | SH |  | SOLE | 0 | 48461 | 0 | 0 |
| National Instruments | Stock | 636518102 |  | 14359155 | 389137 | SH |  | SOLE | 0 | 389137 | 0 | 0 |
| Idexx Laboratories | Stock | 45168D104 |  | 16311465 | 39983 | SH |  | SOLE | 0 | 39983 | 0 | 0 |
| Thermo Fisher Scientific | Stock | 883556102 |  | 215320 | 391 | SH |  | SOLE | 0 | 391 | 0 | 0 |
| Lockheed Martin | Stock | 539830109 |  | 274867 | 565 | SH |  | SOLE | 0 | 565 | 0 | 0 |
| JPMorgan Chase | Stock | 46625H100 |  | 294713 | 2198 | SH |  | SOLE | 0 | 2197 | 0 | 0 |
| Chevron | Stock | 166764100 |  | 18200465 | 101401 | SH |  | SOLE | 0 | 101401 | 0 | 0 |
| ConocoPhillips | Stock | 20825C104 |  | 438016 | 3712 | SH |  | SOLE | 0 | 3712 | 0 | 0 |
| Walmart | Stock | 931142103 |  | 296075 | 2088 | SH |  | SOLE | 0 | 2088 | 0 | 0 |
| IBM | Stock | 459200101 |  | 7420113 | 52666 | SH |  | SOLE | 0 | 52666 | 0 | 0 |
| Oracle | Stock | 68389X105 |  | 17556362 | 214783 | SH |  | SOLE | 0 | 214783 | 0 | 0 |
| Pfizer | Stock | 717081103 |  | 11147323 | 217551 | SH |  | SOLE | 0 | 217551 | 0 | 0 |
| 3M Company | Stock | 88579Y101 |  | 200266 | 1670 | SH |  | SOLE | 0 | 1670 | 0 | 0 |
| Alphabet C | Stock | 02079K107 |  | 19754226 | 222633 | SH |  | SOLE | 0 | 222633 | 0 | 0 |
| American Express | Stock | 025816109 |  | 20088533 | 135963 | SH |  | SOLE | 0 | 135963 | 0 | 0 |
| Amgen | Stock | 031162100 |  | 298884 | 1138 | SH |  | SOLE | 0 | 1138 | 0 | 0 |
| Analog Devices | Stock | 032654105 |  | 13154878 | 80198 | SH |  | SOLE | 0 | 80198 | 0 | 0 |
| Paycom Software | Stock | 70432V102 |  | 1390499 | 4481 | SH |  | SOLE | 0 | 4481 | 0 | 0 |
| Navient | Stock | 63938C108 |  | 188172 | 11439 | SH |  | SOLE | 0 | 11439 | 0 | 0 |
| Franklin Resources | Stock | 354613101 |  | 9762552 | 370074 | SH |  | SOLE | 0 | 370074 | 0 | 0 |
| Arista Networks | Stock | 040413106 |  | 291240 | 2400 | SH |  | SOLE | 0 | 2400 | 0 | 0 |
| HealthEquity | Stock | 42226A107 |  | 993698 | 16121 | SH |  | SOLE | 0 | 16121 | 0 | 0 |
| B Foods | Stock | 05508R106 |  | 441875 | 39630 | SH |  | SOLE | 0 | 39630 | 0 | 0 |
| Axon Enterprise | Stock | 05464C101 |  | 2513674 | 15149 | SH |  | SOLE | 0 | 15149 | 0 | 0 |
| iShares S Mid-Cap 400 Growth ETF | ETF | 464287606 |  | 321556 | 4708 | SH |  | SOLE | 0 | 4708 | 0 | 0 |
| iShares S Mid-Cap 400 Value ETF | ETF | 464287705 |  | 453802 | 4502 | SH |  | SOLE | 0 | 4502 | 0 | 0 |
| IPG Photonics | Stock | 44980X109 |  | 3342798 | 35310 | SH |  | SOLE | 0 | 35310 | 0 | 0 |
| Associated Banc-Corp | Stock | 045487105 |  | 2036653 | 88205 | SH |  | SOLE | 0 | 88205 | 0 | 0 |
| Compass Minerals | Stock | 20451N101 |  | 1518353 | 37033 | SH |  | SOLE | 0 | 37033 | 0 | 0 |
| Lam Research | Stock | 512807108 |  | 210150 | 500 | SH |  | SOLE | 0 | 500 | 0 | 0 |
| Philip Morris | Stock | 718172109 |  | 351199 | 3470 | SH |  | SOLE | 0 | 3470 | 0 | 0 |
| First Trust Managed Municipal ETF | ETF | 33739N108 |  | 280666 | 5601 | SH |  | SOLE | 0 | 5601 | 0 | 0 |
| Bristol-Myers Squibb | Stock | 110122108 |  | 236356 | 3285 | SH |  | SOLE | 0 | 3285 | 0 | 0 |
| Realty Income | REIT | 756109104 |  | 866454 | 13660 | SH |  | SOLE | 0 | 13660 | 0 | 0 |
| Altria Group | Stock | 02209S103 |  | 217255 | 4753 | SH |  | SOLE | 0 | 4752 | 0 | 0 |
| Exxon Mobil | Stock | 30231G102 |  | 3090496 | 28019 | SH |  | SOLE | 0 | 28019 | 0 | 0 |
| UnitedHealth Group | Stock | 91324P102 |  | 467089 | 881 | SH |  | SOLE | 0 | 881 | 0 | 0 |
| T. Rowe Price | Stock | 74144T108 |  | 14900395 | 136626 | SH |  | SOLE | 0 | 136625 | 0 | 0 |
| Lowe's | Stock | 548661107 |  | 424930 | 2133 | SH |  | SOLE | 0 | 2132 | 0 | 0 |
| Etsy | Stock | 29786A106 |  | 3551597 | 29651 | SH |  | SOLE | 0 | 29651 | 0 | 0 |
| Colgate-Palmolive | Stock | 194162103 |  | 283644 | 3600 | SH |  | SOLE | 0 | 3600 | 0 | 0 |
| PayPal Holdings | Stock | 70450Y103 |  | 6557297 | 92071 | SH |  | SOLE | 0 | 92071 | 0 | 0 |
| Activision Blizzard | Stock | 00507V109 |  | 1218293 | 15915 | SH |  | SOLE | 0 | 15915 | 0 | 0 |
| Apple | Stock | 037833100 |  | 31192256 | 240070 | SH |  | SOLE | 0 | 240069 | 0 | 0 |
| WEC Energy Group | Stock | 92939U106 |  | 265341 | 2830 | SH |  | SOLE | 0 | 2830 | 0 | 0 |
| Abbott Labs | Stock | 002824100 |  | 18319727 | 166862 | SH |  | SOLE | 0 | 166861 | 0 | 0 |
| Walt Disney | Stock | 254687106 |  | 10545062 | 121375 | SH |  | SOLE | 0 | 121375 | 0 | 0 |
| Universal Health Services | Stock | 913903100 |  | 433941 | 3080 | SH |  | SOLE | 0 | 3080 | 0 | 0 |
| Booking Holdings | Stock | 09857L108 |  | 1604163 | 796 | SH |  | SOLE | 0 | 796 | 0 | 0 |
| Marsh  McLennan | Stock | 571748102 |  | 3033910 | 18334 | SH |  | SOLE | 0 | 18334 | 0 | 0 |
| iShares Russell 1000 Value ETF | ETF | 464287598 |  | 2156615 | 14221 | SH |  | SOLE | 0 | 14221 | 0 | 0 |

---