BRIDGES INVESTMENT COUNSEL INC/

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CIK 945444

13F portfolio (2017-Q4)

$181M

Positions

129

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2017-Q3. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2017-Q4)

Holdings

127

Top 5

21.2%

Top 10

33.5%

Effective N

51.7

HHI

0.019

This quarter

3 new · 0 exit →

By sector

Industrials16.6%

Financials15.4%

Unclassified15.4%

Information Technology12.1%

Health Care9.5%

Consumer Staples7.9%

Consumer Discretionary7.0%

Energy6.8%

Other9.2%

By market cap

Large ($10–200B)42.3%

Mega (>$200B)38.3%

Unknown18.1%

Small ($300M–2B)0.8%

Mid ($2–10B)0.5%

By region

North America82.2%

Other15.4%

Europe2.5%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	17.56%	22
Pharmaceuticals & Biotechnology	9.04%	10
Technology Hardware & Equipment	8.12%	5
Banks	6.95%	7
Oil, Gas & Consumable Fuels	6.81%	8
Road & Rail	6.56%	3
Aerospace & Defense	5.94%	4
Commercial Services & Supplies	4.66%	6
Tobacco	4.42%	2
Specialty Retail	4.32%	7
Software & IT Services	2.57%	5
Beverages	2.43%	2
Chemicals	2.09%	6
Capital Markets	2.05%	3
Health Care Equipment & Supplies	1.79%	3
Hotels, Restaurants & Leisure	1.68%	3
Software	1.50%	1
Diversified Telecommunication Services	1.38%	2
Machinery	1.32%	4
Utilities	1.25%	6
Food Products	1.09%	4
Entertainment	1.06%	1
Electrical Equipment & Components	1.03%	2
Household Durables	0.82%	1
Airlines	0.73%	1
Communications Equipment	0.66%	1
Media & Entertainment	0.61%	1
Semiconductors & Semiconductor Equipment	0.40%	1
Equity Real Estate Investment Trusts (REITs)	0.37%	2
Insurance	0.29%	2
Paper & Forest Products	0.29%	1
Distributors	0.19%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	UNP	UNION PACIFIC CORP	Industrials	6.18%
2	BA	BOEING CO	Industrials	5.08%
3	AAPL	Apple Inc.	Information Technology	3.58%
4	CVX	CHEVRON CORP	Energy	3.20%
5	IBM	INTERNATIONAL BUSINESS MACHINES CORP	Information Technology	3.14%
6		DOWDUPONT INC	Unclassified	2.81%
7	PM	Philip Morris International Inc.	Consumer Staples	2.49%
8	ABBV	AbbVie Inc.	Health Care	2.37%
9	MA	Mastercard Inc	Financials	2.35%
10	JNJ	JOHNSON & JOHNSON	Health Care	2.27%

106/127 names classified · sector 84.6% of weight · industry 82.4% · mkt cap 81.9%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 19 quarters

FinancialsMA, BRK.B, ING, WFC, COF · other

IndustrialsUNP, BA, ETN, MMM, FDX · other

Information TechnologyAAPL, IBM, GE, QCOM, MSFT · other

Health CareJNJ, ABBV, AMGN, ABT, BIIB · other

EnergyCVX, XOM, SLB, BP, PAA · other

Consumer StaplesPEP, PM, MO, MDLZ, KHC · other

Consumer DiscretionaryMCD, TGT, HD, AMZN, SHW · other

Communication ServicesDIS, VZ, GOOGL, GOOG, CMCSA · other

MaterialsPG, ECL, CL, KMB, NKE · other

UtilitiesNEE, EPD, D, KMI, SO · other

Real EstateEQR, SPG, WY

UnclassifiedBRK.A, FINN, IJH, IWF, IWD · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 84.6% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2017-Q4), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (98 classified)BRIDGES INVESTMENT COUNSEL INC/ centroid (Large Core)

IndustrialsInformation TechnologyFinancialsHealth CareConsumer StaplesConsumer DiscretionaryEnergyCommunication ServicesMaterialsUtilitiesReal Estate

Style box summary for BRIDGES INVESTMENT COUNSEL INC/: centroid Large Core. Heaviest cells: Large Value 29.8%, Large Core 22.9%, Large Growth 16.4%.

Classified: 78.9% of book weight (98/116 names) · unclassified 21.1%: , VEU, BRK.B, ING, IJH, IJR, FINN, BRK.A, BP, IWD +8 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 129 positions (2017-Q4) · largest first · Δ vs 2017-Q3

#	Security	Shares	Value	Weight	Δ QoQ
1	UNPUNION PAC CORP	83,517	$11M	6.2%	TRIM −6%
2	BABOEING CO	31,205	$9M	5.1%	HOLD
3	AAPLAPPLE INC	38,307	$6M	3.6%	TRIM −6%
4	CVXCHEVRON CORP NEW	46,273	$6M	3.2%	TRIM −10%
5	IBMINTERNATIONAL BUSINESS MACHS	37,075	$6M	3.1%	TRIM −15%
6	DOWDUPONT INC	71,509	$5M	2.8%	TRIM −5%
7	PMPHILIP MORRIS INTL INC	42,677	$5M	2.5%	TRIM −15%
8	ABBVABBVIE INC	44,339	$4M	2.4%	HOLD
9	MAMASTERCARD INCORPORATED	28,187	$4M	2.4%	TRIM −10%
10	JNJJOHNSON & JOHNSON	29,482	$4M	2.3%	HOLD
11	VEUVANGUARD INTL EQUITY INDEX F	75,175	$4M	2.3%	ADD 15%
12	BRK.BBERKSHIRE HATHAWAY INC DEL	19,952	$4M	2.2%	TRIM −8%
13	PEPPEPSICO INC	32,765	$4M	2.2%	TRIM −9%
14	MOALTRIA GROUP INC	49,167	$4M	1.9%	TRIM −17%
15	XOMEXXON MOBIL CORP	41,276	$3M	1.9%	HOLD
16	INGING GROEP N.V.	178,935	$3M	1.8%	HOLD
17	WFCWELLS FARGO CO NEW	46,855	$3M	1.6%	HOLD
18	MSFTMICROSOFT CORP	31,871	$3M	1.5%	HOLD
19	IJHISHARES TR	13,630	$3M	1.4%	HOLD
20	CELGENE CORP	23,548	$2M	1.4%	TRIM −2%
21	MCDMCDONALDS CORP	13,854	$2M	1.3%	HOLD
22	MMM3M CO	9,860	$2M	1.3%	TRIM −4%
23	IJRISHARES TR	29,904	$2M	1.3%	HOLD
24	COFCAPITAL ONE FINL CORP	21,594	$2M	1.2%	TRIM −4%
25	ABTABBOTT LABS	37,142	$2M	1.2%	HOLD
26	BLKBLACKROCK INC	3,827	$2M	1.1%	TRIM −9%
27	HDHOME DEPOT INC	10,346	$2M	1.1%	ADD 2%
28	DISDISNEY WALT CO	17,934	$2M	1.1%	TRIM −6%
29	GOOGLALPHABET INC	1,709	$2M	1.0%	TRIM −8%
30	VVISA INC	15,576	$2M	1.0%	TRIM −14%
31	FINNFirst National of Nebraska Inc	214	$2M	0.9%	HOLD
32	USBUS BANCORP	30,860	$2M	0.9%	HOLD
33	SHWSHERWIN WILLIAMS CO	4,000	$2M	0.9%	HOLD
34	JPMJPMORGAN CHASE & CO	15,291	$2M	0.9%	HOLD
35	BRK.ABERKSHIRE HATHAWAY INC DEL	5	$1M	0.8%	TRIM −17%
36	LEGLEGGETT & PLATT INC	31,175	$1M	0.8%	HOLD
37	GOOGALPHABET INC	1,409	$1M	0.8%	TRIM −10%
38	VZVERIZON COMMUNICATIONS INC	26,595	$1M	0.8%	HOLD
39	PRICELINE COM INC	763	$1M	0.7%	TRIM −10%
40	FDXFEDEX CORP	5,309	$1M	0.7%	TRIM −7%
41	PFEPFIZER INC	36,362	$1M	0.7%	HOLD
42	TGTTARGET CORP	18,712	$1M	0.7%	TRIM −4%
43	GEGENERAL ELECTRIC CO	69,626	$1M	0.7%	TRIM −17%
44	QCOMQUALCOMM INC	18,822	$1M	0.7%	TRIM −13%
45	ETNEATON CORP PLC	15,225	$1M	0.7%	ADD 5%
46	AMZNAMAZON COM INC	1,017	$1M	0.7%	TRIM −14%
47	UNITED TECHNOLOGIES CORP	9,025	$1M	0.6%	TRIM −4%
48	BPBP PLC	27,293	$1M	0.6%	TRIM −11%
49	PGPROCTER AND GAMBLE CO	12,420	$1M	0.6%	TRIM −5%
50	CMCSACOMCAST CORP NEW	27,672	$1M	0.6%	TRIM −8%
51	TAT&T INC	28,240	$1M	0.6%	HOLD
52	CSCOCISCO SYS INC	28,525	$1M	0.6%	HOLD
53	PYPLPAYPAL HLDGS INC	14,722	$1M	0.6%	TRIM −6%
54	HONHONEYWELL INTL INC	7,021	$1M	0.6%	HOLD
55	ROPROPER TECHNOLOGIES INC	4,054	$1M	0.6%	TRIM −8%
56	AMPAMERIPRISE FINL INC	5,862	$994,000	0.5%	TRIM −6%
57	AMGNAMGEN INC	5,548	$965,000	0.5%	TRIM −38%
58	BMYBRISTOL-MYERS SQUIBB CO	14,810	$908,000	0.5%	HOLD
59	MRKMERCK & CO INC	15,821	$890,000	0.5%	HOLD
60	BUCKEYE PARTNERS L P	17,758	$880,000	0.5%	ADD 6%
61	ALLERGAN PLC	5,032	$823,000	0.5%	TRIM −9%
62	MDLZMONDELEZ INTL INC	19,194	$821,000	0.5%	TRIM −17%
63	LOWLOWES COS INC	8,660	$805,000	0.4%	TRIM −13%
64	TROWPRICE T ROWE GROUP INC	7,240	$760,000	0.4%	TRIM −8%
65	CLCOLGATE PALMOLIVE CO	9,866	$744,000	0.4%	HOLD
66	WMTWALMART INC	7,410	$732,000	0.4%	HOLD
67	INTCINTEL CORP	15,850	$731,000	0.4%	TRIM −7%
68	SLBSCHLUMBERGER LTD	10,715	$722,000	0.4%	TRIM −18%
69	NEENEXTERA ENERGY INC	4,249	$664,000	0.4%	TRIM −2%
70	EMREMERSON ELEC CO	9,300	$648,000	0.4%	ADD 6%
71	METAMETA PLATFORMS INC	3,620	$638,000	0.4%	HOLD
72	NKENIKE INC	10,074	$630,000	0.3%	TRIM −6%
73	BIIBBIOGEN INC	1,975	$629,000	0.3%	TRIM −17%
74	KHCKRAFT HEINZ CO	7,837	$610,000	0.3%	TRIM −16%
75	LLYELI LILLY & CO	7,067	$597,000	0.3%	HOLD
76	DEDEERE & CO	3,700	$579,000	0.3%	HOLD
77	ROYAL DUTCH SHELL PLC	8,686	$579,000	0.3%	ADD 9%
78	STTSTATE STR CORP	5,900	$576,000	0.3%	HOLD
79	IWDISHARES TR	4,555	$567,000	0.3%	ADD 4%
80	GILDGILEAD SCIENCES INC	7,778	$558,000	0.3%	TRIM −8%
81	ECLECOLAB INC	3,950	$530,000	0.3%	TRIM −11%
82	KMBKIMBERLY-CLARK CORP	4,298	$518,000	0.3%	TRIM −8%
83	MDTMEDTRONIC PLC	6,405	$517,000	0.3%	NEW
84	ANADARKO PETE CORP	8,930	$479,000	0.3%	TRIM −8%
85	KOCOCA COLA CO	10,282	$472,000	0.3%	TRIM −3%
86	IWFISHARES TR	3,445	$464,000	0.3%	TRIM −6%
87	SUSUNCOR ENERGY INC NEW	12,500	$459,000	0.3%	HOLD
88	ACNACCENTURE PLC IRELAND	3,000	$459,000	0.3%	TRIM −19%
89	CLXCLOROX CO DEL	3,000	$446,000	0.2%	HOLD
90	CTSHCOGNIZANT TECHNOLOGY SOLUTIO	6,280	$446,000	0.2%	HOLD
91	TDTORONTO DOMINION BK ONT	7,535	$442,000	0.2%	ADD 8%
92	FISVFISERV INC	3,350	$440,000	0.2%	TRIM −11%
93	DDOMINION ENERGY INC	5,117	$415,000	0.2%	HOLD
94	MCOMOODYS CORP	2,800	$413,000	0.2%	HOLD
95	TMOTHERMO FISHER SCIENTIFIC INC	2,125	$403,000	0.2%	TRIM −4%
96	BDXBECTON DICKINSON & CO	1,857	$398,000	0.2%	HOLD
97	EQREQUITY RESIDENTIAL	6,250	$398,000	0.2%	TRIM −7%
98	SOSOUTHERN CO	8,200	$395,000	0.2%	ADD 6%
99	CATCATERPILLAR INC	2,460	$388,000	0.2%	TRIM −37%
100	IJSISHARES TR	2,515	$386,000	0.2%	TRIM −5%
101	CNICANADIAN NATL RY CO	4,600	$379,000	0.2%	HOLD
102	EPDENTERPRISE PRODS PARTNERS L	14,078	$373,000	0.2%	ADD 22%
103	TELTE CONNECTIVITY LTD	3,600	$343,000	0.2%	HOLD
104	CONTINENTAL RES INC	6,450	$342,000	0.2%	TRIM −20%
105	SBUXSTARBUCKS CORP	5,850	$336,000	0.2%	TRIM −11%
106	MARMARRIOTT INTL INC NEW	2,425	$329,000	0.2%	HOLD
107	CAGCONAGRA BRANDS INC	8,400	$317,000	0.2%	TRIM −13%
108	PAAPLAINS ALL AMERN PIPELINE L	15,315	$316,000	0.2%	TRIM −3%
109	IWRISHARES TR	1,504	$313,000	0.2%	ADD 3%
110	UPSUNITED PARCEL SERVICE INC	2,605	$310,000	0.2%	TRIM −15%
111	WALGREENS BOOTS ALLIANCE INC	4,255	$309,000	0.2%	ADD 3%
112	EMNEASTMAN CHEM CO	3,250	$301,000	0.2%	HOLD
113	ADPAUTOMATIC DATA PROCESSING IN	2,550	$299,000	0.2%	HOLD
114	TRVTRAVELERS COMPANIES INC	2,171	$294,000	0.2%	HOLD
115	COSTCOSTCO WHSL CORP NEW	1,550	$288,000	0.2%	TRIM −6%
116	ENBRIDGE ENERGY PARTNERS L P	20,465	$282,000	0.2%	ADD 4%
117	TRNTRINITY INDS INC	7,500	$281,000	0.2%	HOLD
118	WYWEYERHAEUSER CO	7,651	$269,000	0.1%	ADD 13%
119	COPCONOCOPHILLIPS	4,500	$247,000	0.1%	ADD 10%
120	ALLALLSTATE CORP	2,286	$239,000	0.1%	TRIM −27%
121	AEPAMERICAN ELEC PWR CO INC	3,050	$225,000	0.1%	ADD 3%
122	SWKSTANLEY BLACK & DECKER INC	1,302	$221,000	0.1%	TRIM −4%
123	MONSANTO CO NEW	1,882	$220,000	0.1%	HOLD
124	GISGENERAL MILLS INC	3,700	$219,000	0.1%	NEW
125	NOCNORTHROP GRUMMAN CORP	700	$215,000	0.1%	HOLD
126	OXYOCCIDENTAL PETE CORP	2,882	$212,000	0.1%	NEW
127	KMIKINDER MORGAN INC DEL	11,075	$200,000	0.1%	TRIM −3%
128	AMERICAN GOLF CAR INC	100,000	$0	0.0%	HOLD
129	CGTV MEDIA GROUP, INC	20,000	$0	0.0%	HOLD

☆BRIDGES INVESTMENT COUNSEL INC/