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Institutional Investment Manager
INVESTMENT COUNSEL INC.
INVESTMENT COUNSEL INC. (CIK: 0001670053). Institutional holdings reported to the SEC.

Institutional Holdings (2016Q3)
Portfolio Summary: 61 holdings with a total value of $114,171,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 VANGUARD SCOTTSDALE FDS 138,843 11,184,000 9.80%
2 MEDTRONIC PLC 94,695 8,182,000 7.17%
3 SPDR SERIES TRUST 146,486 5,379,000 4.71%
4 JOHNSON & JOHNSON 33,154 3,917,000 3.43%
5 3M CO 20,506 3,614,000 3.17%
6 EXXON MOBIL CORP 40,785 3,560,000 3.12%
7 NIKE INC 62,934 3,313,000 2.90%
8 PROCTER AND GAMBLE CO 33,332 2,992,000 2.62%
9 INTEL CORP 77,335 2,919,000 2.56%
10 MERCK & CO INC 45,897 2,864,000 2.51%
11 GENERAL ELECTRIC CO 95,797 2,838,000 2.49%
12 APPLE INC 25,032 2,830,000 2.48%
13 PEPSICO INC 25,978 2,826,000 2.48%
14 MICROSOFT CORP 46,876 2,700,000 2.36%
15 ILLINOIS TOOL WKS INC 20,773 2,489,000 2.18%
16 DISNEY WALT CO 25,821 2,398,000 2.10%
17 AUTOMATIC DATA PROCESSING IN 26,678 2,353,000 2.06%
18 WATERS CORP 14,817 2,348,000 2.06%
19 JPMORGAN CHASE & CO 33,019 2,199,000 1.93%
20 WELLS FARGO & CO NEW 48,305 2,139,000 1.87%
21 INTERNATIONAL BUSINESS MACHS 13,437 2,134,000 1.87%
22 WAL-MART STORES INC 29,407 2,121,000 1.86%
23 MCDONALDS CORP 18,181 2,097,000 1.84%
24 COCA COLA CO 47,782 2,022,000 1.77%
25 SYSCO CORP 38,415 1,883,000 1.65%
26 AIR PRODS & CHEMS INC 12,003 1,805,000 1.58%
27 AT&T INC 40,186 1,632,000 1.43%
28 HOME DEPOT INC 12,652 1,628,000 1.43%
29 CHEVRON CORP NEW 15,055 1,549,000 1.36%
30 BLACKROCK INC 4,201 1,523,000 1.33%
31 KIMBERLY CLARK CORP 11,361 1,433,000 1.26%
32 SOUTHERN CO 27,459 1,409,000 1.23%
33 ABBOTT LABS 32,584 1,378,000 1.21%
34 BP PLC 38,764 1,363,000 1.19%
35 BRISTOL MYERS SQUIBB CO 23,892 1,288,000 1.13%
36 ALPHABET INC 1,599 1,243,000 1.09%
37 PG&E CORP 19,196 1,174,000 1.03%
38 ZIMMER BIOMET HLDGS INC 8,482 1,103,000 0.97%
39 SPDR S&P 500 ETF TR 5,014 1,085,000 0.95%
40 DOW CHEM CO 20,810 1,079,000 0.95%
41 STRYKER CORP 8,075 940,000 0.82%
42 SCHLUMBERGER LTD 11,067 870,000 0.76%
43 DU PONT E I DE NEMOURS & CO 11,508 771,000 0.68%
44 AMERICAN EXPRESS CO 10,861 696,000 0.61%
45 AMGEN INC 3,900 651,000 0.57%
46 L-3 COMMUNICATIONS HLDGS INC 3,754 566,000 0.50%
47 GENERAL MLS INC 8,591 549,000 0.48%
48 VERIZON COMMUNICATIONS INC 10,087 524,000 0.46%
49 TIFFANY 7,134 518,000 0.45%
50 ALTRIA GROUP INC 8,090 512,000 0.45%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001606587-16-000847, filed 2016.11.10).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.