# EDGAR Filing Document

**Accession Number:** 0001033974
**File Stem:** 0001033974-25-000007
**Filing Date:** 2025-10
**Character Count:** 18282
**Document Hash:** 2972b087fe72e05dad183b1823c33fe4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001033974-25-000007.hdr.sgml**: 20251020

**ACCESSION NUMBER**: 0001033974-25-000007

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251020

**DATE AS OF CHANGE**: 20251020

**EFFECTIVENESS DATE**: 20251020

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI
- **CENTRAL INDEX KEY:** 0001033974

**ORGANIZATION NAME:**
- **EIN:** 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:** 251402748

**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:** 09-30-2025

**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<br>**Phone:** 920-727-1137

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

Mark Sprtel  Neenah, WI  10-20-2025<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:** 152

**Form 13F Information Table Value Total:** $1344421061

      (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 |  | 13642104 | 62131 | SH |  | SOLE | 0 | 62131 | 0 | 0 |
| Global Payments | Stock | 37940X102 |  | 7041113 | 84751 | SH |  | SOLE | 0 | 84751 | 0 | 0 |
| Sealed Air | Stock | 81211K100 |  | 345935 | 9786 | SH |  | SOLE | 0 | 9786 | 0 | 0 |
| Invesco QQQ Trust | ETF | 46090E103 |  | 291209 | 485 | SH |  | SOLE | 0 | 485 | 0 | 0 |
| Starbucks | Stock | 855244109 |  | 13625709 | 161060 | SH |  | SOLE | 0 | 161060 | 0 | 0 |
| Johnson  Johnson | Stock | 478160104 |  | 17692806 | 95420 | SH |  | SOLE | 0 | 95420 | 0 | 0 |
| Vanguard Total Stock Market Index Fund | ETF | 922908769 |  | 2570269 | 7832 | SH |  | SOLE | 0 | 7832 | 0 | 0 |
| Costco Wholesale | Stock | 22160K105 |  | 3657164 | 3951 | SH |  | SOLE | 0 | 3951 | 0 | 0 |
| Shell plc ADR | ADR | 780259305 |  | 212086 | 2965 | SH |  | SOLE | 0 | 2965 | 0 | 0 |
| Teledyne Technologies | Stock | 879360105 |  | 719657 | 1228 | SH |  | SOLE | 0 | 1228 | 0 | 0 |
| Procter  Gamble | Stock | 742718109 |  | 3461486 | 22528 | SH |  | SOLE | 0 | 22528 | 0 | 0 |
| Coca-Cola | Stock | 191216100 |  | 3727719 | 56208 | SH |  | SOLE | 0 | 56208 | 0 | 0 |
| Truist Financial | Stock | 89832Q109 |  | 11687907 | 255641 | SH |  | SOLE | 0 | 255641 | 0 | 0 |
| Intel | Stock | 458140100 |  | 12278226 | 365968 | SH |  | SOLE | 0 | 365968 | 0 | 0 |
| Medtronic | Stock | G5960L103 |  | 9589620 | 100689 | SH |  | SOLE | 0 | 100689 | 0 | 0 |
| Netflix | Stock | 64110L106 |  | 684583 | 571 | SH |  | SOLE | 0 | 571 | 0 | 0 |
| Paychex | Stock | 704326107 |  | 23511572 | 185481 | SH |  | SOLE | 0 | 185481 | 0 | 0 |
| iShares Silver Trust | ETF | 46428Q109 |  | 620509 | 14645 | SH |  | SOLE | 0 | 14645 | 0 | 0 |
| Waters | Stock | 941848103 |  | 31680923 | 105670 | SH |  | SOLE | 0 | 105670 | 0 | 0 |
| Merck  Co. | Stock | 58933Y105 |  | 7769820 | 92575 | SH |  | SOLE | 0 | 92575 | 0 | 0 |
| Oshkosh | Stock | 688239201 |  | 395585 | 3050 | SH |  | SOLE | 0 | 3050 | 0 | 0 |
| SPDR S 500 ETF | ETF | 78462F103 |  | 4721477 | 7087 | SH |  | SOLE | 0 | 7087 | 0 | 0 |
| Mastercard | Stock | 57636Q104 |  | 624937 | 1099 | SH |  | SOLE | 0 | 1098 | 0 | 0 |
| Plexus | Stock | 729132100 |  | 1310313 | 9056 | SH |  | SOLE | 0 | 9056 | 0 | 0 |
| Diageo ADR | ADR | 25243Q205 |  | 5814168 | 60926 | SH |  | SOLE | 0 | 60926 | 0 | 0 |
| Verizon | Stock | 92343V104 |  | 231880 | 5276 | SH |  | SOLE | 0 | 5276 | 0 | 0 |
| PepsiCo | Stock | 713448108 |  | 1798053 | 12803 | SH |  | SOLE | 0 | 12803 | 0 | 0 |
| Kimberly-Clark | Stock | 494368103 |  | 13573858 | 109167 | SH |  | SOLE | 0 | 109167 | 0 | 0 |
| U.S. Bancorp | Stock | 902973304 |  | 13739972 | 284295 | SH |  | SOLE | 0 | 284294 | 0 | 0 |
| SPDR Bloomberg Convertible Securities ETF | ETF | 78464A359 |  | 1696242 | 18743 | SH |  | SOLE | 0 | 18743 | 0 | 0 |
| Home Depot | Stock | 437076102 |  | 23672788 | 58424 | SH |  | SOLE | 0 | 58423 | 0 | 0 |
| Automatic Data Processing | Stock | 053015103 |  | 23491740 | 80040 | SH |  | SOLE | 0 | 80040 | 0 | 0 |
| Fair Isaac | Stock | 303250104 |  | 1600265 | 1069 | SH |  | SOLE | 0 | 1069 | 0 | 0 |
| SPDR Gold Shares | ETF | 78463V107 |  | 1690971 | 4757 | SH |  | SOLE | 0 | 4757 | 0 | 0 |
| The Southern Company | Stock | 842587107 |  | 5970605 | 63001 | SH |  | SOLE | 0 | 63001 | 0 | 0 |
| abrdn Physical Silver ETF | ETF | 003264108 |  | 344720 | 7750 | SH |  | SOLE | 0 | 7750 | 0 | 0 |
| Schwab US Large-Cap Growth ETF | ETF | 808524300 |  | 221328 | 6936 | SH |  | SOLE | 0 | 6936 | 0 | 0 |
| iShares Core S Small-Cap ETF | ETF | 464287804 |  | 490174 | 4125 | SH |  | SOLE | 0 | 4125 | 0 | 0 |
| Berkshire Hathaway | Stock | 084670702 |  | 33583535 | 66801 | SH |  | SOLE | 0 | 66801 | 0 | 0 |
| Adobe | Stock | 00724F101 |  | 24311530 | 68920 | SH |  | SOLE | 0 | 68920 | 0 | 0 |
| Alphabet A | Stock | 02079K305 |  | 33184628 | 136506 | SH |  | SOLE | 0 | 136506 | 0 | 0 |
| Intuit | Stock | 461202103 |  | 20709246 | 30325 | SH |  | SOLE | 0 | 30325 | 0 | 0 |
| Spotify Technology | Stock | L8681T102 |  | 14248972 | 20414 | SH |  | SOLE | 0 | 20414 | 0 | 0 |
| Comcast | Stock | 20030N101 |  | 10404010 | 331127 | SH |  | SOLE | 0 | 331127 | 0 | 0 |
| Microsoft | Stock | 594918104 |  | 23407263 | 45192 | SH |  | SOLE | 0 | 45192 | 0 | 0 |
| SS Technologies | Stock | 78467J100 |  | 17560469 | 197842 | SH |  | SOLE | 0 | 197842 | 0 | 0 |
| SLB | Stock | 806857108 |  | 9056331 | 263495 | SH |  | SOLE | 0 | 263495 | 0 | 0 |
| Evergy | Stock | 30034W106 |  | 10406606 | 136893 | SH |  | SOLE | 0 | 136893 | 0 | 0 |
| V.F. Corporation | Stock | 918204108 |  | 1558007 | 107970 | SH |  | SOLE | 0 | 107970 | 0 | 0 |
| Ameriprise Financial | Stock | 03076C106 |  | 258281 | 526 | SH |  | SOLE | 0 | 525 | 0 | 0 |
| Berkshire Hathaway Class A | Stock | 084670108 |  | 3016800 | 4 | SH |  | SOLE | 0 | 4 | 0 | 0 |
| Vanguard ESG U.S. Stock ETF | ETF | 921910733 |  | 1150171 | 9711 | SH |  | SOLE | 0 | 9711 | 0 | 0 |
| Ovintiv | Stock | 69047Q102 |  | 4137294 | 102459 | SH |  | SOLE | 0 | 102459 | 0 | 0 |
| Nike | Stock | 654106103 |  | 10791542 | 154762 | SH |  | SOLE | 0 | 154761 | 0 | 0 |
| Align Technology | Stock | 016255101 |  | 7154946 | 57139 | SH |  | SOLE | 0 | 57139 | 0 | 0 |
| Tesla | Stock | 88160R101 |  | 958093 | 2154 | SH |  | SOLE | 0 | 2154 | 0 | 0 |
| Linde | Stock | G54950103 |  | 27343375 | 57565 | SH |  | SOLE | 0 | 57565 | 0 | 0 |
| Kimco Realty | REIT | 49446R109 |  | 4095979 | 187459 | SH |  | SOLE | 0 | 187459 | 0 | 0 |
| Wintrust Financial Corp | Stock | 97650W108 |  | 463540 | 3500 | SH |  | SOLE | 0 | 3500 | 0 | 0 |
| Vanguard S 500 ETF | ETF | 922908363 |  | 576770 | 942 | SH |  | SOLE | 0 | 941 | 0 | 0 |
| abrdn Physical Precious Metals ETF | ETF | 003263100 |  | 319319 | 1930 | SH |  | SOLE | 0 | 1930 | 0 | 0 |
| Uber Technologies | Stock | 90353T100 |  | 21327677 | 217696 | SH |  | SOLE | 0 | 217696 | 0 | 0 |
| Amcor plc | Stock | G0250X107 |  | 8159305 | 997470 | SH |  | SOLE | 0 | 997470 | 0 | 0 |
| VanEck Gold Miners ETF | ETF | 92189F106 |  | 350676 | 4590 | SH |  | SOLE | 0 | 4590 | 0 | 0 |
| Vanguard Total International Stock ETF | ETF | 921909768 |  | 444800 | 6055 | SH |  | SOLE | 0 | 6055 | 0 | 0 |
| Nicolet Bankshares | Stock | 65406E102 |  | 857976 | 6379 | SH |  | SOLE | 0 | 6379 | 0 | 0 |
| Duke Energy | Stock | 26441C204 |  | 5980838 | 48330 | SH |  | SOLE | 0 | 48330 | 0 | 0 |
| Aflac | Stock | 001055102 |  | 23718937 | 212345 | SH |  | SOLE | 0 | 212345 | 0 | 0 |
| Sysco | Stock | 871829107 |  | 21064054 | 255818 | SH |  | SOLE | 0 | 255818 | 0 | 0 |
| Match Group | Stock | 57667L107 |  | 1551678 | 43932 | SH |  | SOLE | 0 | 43932 | 0 | 0 |
| Palantir Technologies | Stock | 69608A108 |  | 23648746 | 129639 | SH |  | SOLE | 0 | 129639 | 0 | 0 |
| Regeneron Pharmaceuticals | Stock | 75886F107 |  | 12217003 | 21728 | SH |  | SOLE | 0 | 21728 | 0 | 0 |
| Tractor Supply | Stock | 892356106 |  | 609931 | 10725 | SH |  | SOLE | 0 | 10725 | 0 | 0 |
| Visa | Stock | 92826C839 |  | 22046741 | 64581 | SH |  | SOLE | 0 | 64581 | 0 | 0 |
| Robinhood Markets | Stock | 770700102 |  | 2325100 | 16239 | SH |  | SOLE | 0 | 16239 | 0 | 0 |
| Vanguard Growth ETF | ETF | 922908736 |  | 438364 | 914 | SH |  | SOLE | 0 | 914 | 0 | 0 |
| HealthEquity | Stock | 42226A107 |  | 1477938 | 15595 | SH |  | SOLE | 0 | 15595 | 0 | 0 |
| Meta Platforms | Stock | 30303M102 |  | 8904365 | 12125 | SH |  | SOLE | 0 | 12125 | 0 | 0 |
| ASML Holding | ADR | N07059210 |  | 218788 | 226 | SH |  | SOLE | 0 | 226 | 0 | 0 |
| Morningstar Wide Moat ETF | ETF | 92189F643 |  | 242423 | 2446 | SH |  | SOLE | 0 | 2446 | 0 | 0 |
| Palo Alto Networks | Stock | 697435105 |  | 659118 | 3237 | SH |  | SOLE | 0 | 3237 | 0 | 0 |
| Indivior PLC | Stock | G4766E116 |  | 241100 | 10000 | SH |  | SOLE | 0 | 10000 | 0 | 0 |
| Canadian Pacific Kansas City | Stock | 13646K108 |  | 6704696 | 90008 | SH |  | SOLE | 0 | 90008 | 0 | 0 |
| SLM Corporation | Stock | 78442P106 |  | 7873410 | 284444 | SH |  | SOLE | 0 | 284444 | 0 | 0 |
| GE Healthcare Technologies | Stock | 36266G107 |  | 212608 | 2831 | SH |  | SOLE | 0 | 2831 | 0 | 0 |
| Enbridge | Stock | 29250N105 |  | 11727762 | 232417 | SH |  | SOLE | 0 | 232417 | 0 | 0 |
| NVIDIA | Stock | 67066G104 |  | 13899465 | 74496 | SH |  | SOLE | 0 | 74496 | 0 | 0 |
| AbbVie | Stock | 00287Y109 |  | 1277406 | 5517 | SH |  | SOLE | 0 | 5517 | 0 | 0 |
| T. Rowe Price Capital Appr Equity ETF | ETF | 87283Q867 |  | 1111019 | 29470 | SH |  | SOLE | 0 | 29470 | 0 | 0 |
| Rockwell Automation | Stock | 773903109 |  | 7357607 | 21050 | SH |  | SOLE | 0 | 21050 | 0 | 0 |
| Verisign | Stock | 92343E102 |  | 4041464 | 14456 | SH |  | SOLE | 0 | 14456 | 0 | 0 |
| Stryker | Stock | 863667101 |  | 39967298 | 108116 | SH |  | SOLE | 0 | 108116 | 0 | 0 |
| Arm Holdings | ADR | 042068205 |  | 1310622 | 9263 | SH |  | SOLE | 0 | 9263 | 0 | 0 |
| Fastenal Company | Stock | 311900104 |  | 1280042 | 26102 | SH |  | SOLE | 0 | 26102 | 0 | 0 |
| Intuitive Surgical | Stock | 46120E602 |  | 16194198 | 36210 | SH |  | SOLE | 0 | 36210 | 0 | 0 |
| McDonald's | Stock | 580135101 |  | 679802 | 2237 | SH |  | SOLE | 0 | 2237 | 0 | 0 |
| Ametek | Stock | 031100100 |  | 20457408 | 108816 | SH |  | SOLE | 0 | 108816 | 0 | 0 |
| Cisco Systems | Stock | 17275R102 |  | 35598252 | 520290 | SH |  | SOLE | 0 | 520290 | 0 | 0 |
| Advanced Micro Devices | Stock | 007903107 |  | 21031891 | 129995 | SH |  | SOLE | 0 | 129995 | 0 | 0 |
| Schwab Fundamental US Large Company Index ETF | ETF | 808524771 |  | 402522 | 15305 | SH |  | SOLE | 0 | 15305 | 0 | 0 |
| GE Aerospace | Stock | 369604301 |  | 10570224 | 35138 | SH |  | SOLE | 0 | 35138 | 0 | 0 |
| Veeva Systems | Stock | 922475108 |  | 4333995 | 14548 | SH |  | SOLE | 0 | 14548 | 0 | 0 |
| Lamar Advertising | REIT | 512816109 |  | 1579585 | 12903 | SH |  | SOLE | 0 | 12903 | 0 | 0 |
| Wells Fargo | Stock | 949746101 |  | 29394752 | 350689 | SH |  | SOLE | 0 | 350689 | 0 | 0 |
| Union Pacific | Stock | 907818108 |  | 24340830 | 102978 | SH |  | SOLE | 0 | 102977 | 0 | 0 |
| Ecolab | Stock | 278865100 |  | 12852798 | 46932 | SH |  | SOLE | 0 | 46932 | 0 | 0 |
| Idexx Laboratories | Stock | 45168D104 |  | 31660194 | 49555 | SH |  | SOLE | 0 | 49555 | 0 | 0 |
| JPMorgan Chase | Stock | 46625H100 |  | 617205 | 1957 | SH |  | SOLE | 0 | 1956 | 0 | 0 |
| Chevron | Stock | 166764100 |  | 17140885 | 110380 | SH |  | SOLE | 0 | 110379 | 0 | 0 |
| ConocoPhillips | Stock | 20825C104 |  | 294459 | 3113 | SH |  | SOLE | 0 | 3113 | 0 | 0 |
| Vanguard FTSE Developed Markets ETF | ETF | 921943858 |  | 743128 | 12402 | SH |  | SOLE | 0 | 12402 | 0 | 0 |
| The TJX Companies | Stock | 872540109 |  | 203801 | 1410 | SH |  | SOLE | 0 | 1410 | 0 | 0 |
| Walmart | Stock | 931142103 |  | 551202 | 5348 | SH |  | SOLE | 0 | 5348 | 0 | 0 |
| IBM | Stock | 459200101 |  | 9509074 | 33701 | SH |  | SOLE | 0 | 33701 | 0 | 0 |
| Oracle | Stock | 68389X105 |  | 41412871 | 147251 | SH |  | SOLE | 0 | 147251 | 0 | 0 |
| RTX Corporation | Stock | 75513E101 |  | 407143 | 2433 | SH |  | SOLE | 0 | 2433 | 0 | 0 |
| Vanguard Emerging Markets Stock Index Fund | ETF | 922042858 |  | 3263642 | 60237 | SH |  | SOLE | 0 | 60237 | 0 | 0 |
| Pfizer | Stock | 717081103 |  | 5216576 | 204732 | SH |  | SOLE | 0 | 204732 | 0 | 0 |
| 3M Company | Stock | 88579Y101 |  | 254961 | 1643 | SH |  | SOLE | 0 | 1643 | 0 | 0 |
| Caterpillar | Stock | 149123101 |  | 336042 | 704 | SH |  | SOLE | 0 | 704 | 0 | 0 |
| Alphabet C | Stock | 02079K107 |  | 46087941 | 189234 | SH |  | SOLE | 0 | 189234 | 0 | 0 |
| American Express | Stock | 025816109 |  | 40067004 | 120626 | SH |  | SOLE | 0 | 120625 | 0 | 0 |
| Amgen | Stock | 031162100 |  | 360978 | 1279 | SH |  | SOLE | 0 | 1279 | 0 | 0 |
| Analog Devices | Stock | 032654105 |  | 19286568 | 78496 | SH |  | SOLE | 0 | 78496 | 0 | 0 |
| Paycom Software | Stock | 70432V102 |  | 5146308 | 24725 | SH |  | SOLE | 0 | 24725 | 0 | 0 |
| Franklin Resources | Stock | 354613101 |  | 4809884 | 207950 | SH |  | SOLE | 0 | 207950 | 0 | 0 |
| Arista Networks | Stock | 040413205 |  | 1404499 | 9639 | SH |  | SOLE | 0 | 9639 | 0 | 0 |
| Axon Enterprise | Stock | 05464C101 |  | 13505267 | 18819 | SH |  | SOLE | 0 | 18819 | 0 | 0 |
| iShares S Mid-Cap 400 Value ETF | ETF | 464287705 |  | 583999 | 4502 | SH |  | SOLE | 0 | 4502 | 0 | 0 |
| IPG Photonics | Stock | 44980X109 |  | 6698207 | 84584 | SH |  | SOLE | 0 | 84584 | 0 | 0 |
| Associated Banc-Corp | Stock | 045487105 |  | 2930169 | 113970 | SH |  | SOLE | 0 | 113970 | 0 | 0 |
| T. Rowe Price Dividend Growth ETF | ETF | 87283Q404 |  | 718087 | 16335 | SH |  | SOLE | 0 | 16335 | 0 | 0 |
| Philip Morris | Stock | 718172109 |  | 496332 | 3060 | SH |  | SOLE | 0 | 3060 | 0 | 0 |
| Synopsys | Stock | 871607107 |  | 3743350 | 7587 | SH |  | SOLE | 0 | 7587 | 0 | 0 |
| Realty Income | REIT | 756109104 |  | 1470875 | 24196 | SH |  | SOLE | 0 | 24196 | 0 | 0 |
| Altria Group | Stock | 02209S103 |  | 356354 | 5394 | SH |  | SOLE | 0 | 5394 | 0 | 0 |
| Exxon Mobil | Stock | 30231G102 |  | 2808490 | 24909 | SH |  | SOLE | 0 | 24909 | 0 | 0 |
| T. Rowe Price Group | Stock | 74144T108 |  | 13295370 | 129534 | SH |  | SOLE | 0 | 129534 | 0 | 0 |
| The Travelers Companies | Stock | 89417E109 |  | 279220 | 1000 | SH |  | SOLE | 0 | 1000 | 0 | 0 |
| Lowe's | Stock | 548661107 |  | 339269 | 1350 | SH |  | SOLE | 0 | 1350 | 0 | 0 |
| Etsy | Stock | 29786A106 |  | 2818587 | 42455 | SH |  | SOLE | 0 | 42455 | 0 | 0 |
| Colgate-Palmolive | Stock | 194162103 |  | 287784 | 3600 | SH |  | SOLE | 0 | 3600 | 0 | 0 |
| Sprott Physical Gold  Sliver Trust | CEF | 85208R101 |  | 342134 | 9325 | SH |  | SOLE | 0 | 9325 | 0 | 0 |
| Shopify | Stock | 82509L107 |  | 396491 | 2668 | SH |  | SOLE | 0 | 2668 | 0 | 0 |
| PayPal Holdings | Stock | 70450Y103 |  | 12580188 | 187596 | SH |  | SOLE | 0 | 187596 | 0 | 0 |
| Apple | Stock | 037833100 |  | 51398499 | 201856 | SH |  | SOLE | 0 | 201855 | 0 | 0 |
| WEC Energy Group | Stock | 92939U106 |  | 456068 | 3980 | SH |  | SOLE | 0 | 3980 | 0 | 0 |
| Abbott Laboratories | Stock | 002824100 |  | 19977404 | 149152 | SH |  | SOLE | 0 | 149151 | 0 | 0 |
| Walt Disney | Stock | 254687106 |  | 13329793 | 116417 | SH |  | SOLE | 0 | 116417 | 0 | 0 |
| Booking Holdings | Stock | 09857L108 |  | 3234696 | 599 | SH |  | SOLE | 0 | 599 | 0 | 0 |
| Marsh  McLennan | Stock | 571748102 |  | 5173275 | 25670 | SH |  | SOLE | 0 | 25670 | 0 | 0 |
| iShares Russell 1000 Value ETF | ETF | 464287598 |  | 2845374 | 13976 | SH |  | SOLE | 0 | 13976 | 0 | 0 |

---