R.H. Dinel Investment Counsel, Inc. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PEP	PEPSICO INC COM	16,998	$2,387	1.7%	$158.70	-8.1%	—	713448108
SLB	SLB LIMITED COM STK	40,031	$1,376	1.0%	$49.39	-27.0%	—	806857108
—	LIBERTY LIVE GROUP SERIES A	9,538	$899	0.7%	$31.92	—	—	531229748
—	LIBERTY LIVE GROUP SERIES C	4,579	$444	0.3%	$32.10	—	—	531229722

Decreased Positions (14)

MSFT MICROSOFT CORP 16.3%

Value ($000) $22,181 (-13.8%) Shares 45,865 (-7.7%) Est. Cost $47.11 Unrealized +962.5%

ADP AUTOMATIC DATA PROCESSING INC 4.6%

Value ($000) $6,328 (-25.1%) Shares 24,600 (-14.6%) Est. Cost $86.17 Unrealized +207.3%

CVX CHEVRON CORP 2.8%

Value ($000) $3,839 (-27.7%) Shares 25,191 (-26.4%) Est. Cost $92.62 Unrealized +63.5%

ADBE ADOBE SYSTEMS INCORPORATED 5.3%

Value ($000) $7,247 (-16.8%) Shares 20,705 (-16.2%) Est. Cost $111.74 Unrealized +204.4%

KMB KIMBERLY-CLARK CORP 0.4%

Value ($000) $583 (-62.3%) Shares 5,775 (-53.5%) Est. Cost $109.90 Unrealized -1.4%

HUBB HUBBELL INC 1.3%

Value ($000) $1,710 (-32.7%) Shares 3,850 (-34.7%) Est. Cost $194.45 Unrealized +124.8%

TMO THERMO FISHER SCIENTIFIC INC 7.6%

Value ($000) $10,384 (+8.4%) Shares 17,921 (-9.2%) Est. Cost $137.17 Unrealized +312.0%

BRK/B BERKSHIRE HATHAWAY INC DEL CL B 3.7%

Value ($000) $5,064 (-9.5%) Shares 10,075 (-9.4%) Est. Cost $246.13 Unrealized +102.1%

HSY HERSHEY CO 1.1%

Value ($000) $1,541 (-24.3%) Shares 8,470 (-22.2%) Est. Cost $125.83 Unrealized +44.7%

MRK MERCK & CO. INC 2.4%

Value ($000) $3,301 (-12.1%) Shares 31,365 (-29.9%) Est. Cost $74.64 Unrealized +24.9%

TROW PRICE T ROWE GROUP INC 2.8%

Value ($000) $3,875 (-10.2%) Shares 37,850 (-10.0%) Est. Cost $63.84 Unrealized +60.1%

XOM EXXON MOBIL CORP 1.8%

Value ($000) $2,460 (-1.9%) Shares 20,442 (-8.1%) Est. Cost $59.35 Unrealized +94.6%

UPS UNITED PARCEL SERVICE INC CL B 0.3%

Value ($000) $474 (-8.2%) Shares 4,775 (-22.7%) Est. Cost $64.68 Unrealized +43.4%

AMGN AMGEN INC 4.6%

Value ($000) $6,325 (-0.5%) Shares 19,325 (-14.2%) Est. Cost $110.62 Unrealized +185.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	MICROSOFT CORP	45,865 (-7.7%)	$22,181 (-13.8%)	16.3%	$47.11	+962.5%	Stock	594918104
ADP	AUTOMATIC DATA PROCESSING INC	24,600 (-14.6%)	$6,328 (-25.1%)	4.6%	$86.17	+207.3%	Stock	053015103
CVX	CHEVRON CORP	25,191 (-26.4%)	$3,839 (-27.7%)	2.8%	$92.62	+63.5%	Stock	166764100
ADBE	ADOBE SYSTEMS INCORPORATED	20,705 (-16.2%)	$7,247 (-16.8%)	5.3%	$111.74	+204.4%	Stock	00724F101
KMB	KIMBERLY-CLARK CORP	5,775 (-53.5%)	$583 (-62.3%)	0.4%	$109.90	-1.4%	Stock	494368103
HUBB	HUBBELL INC	3,850 (-34.7%)	$1,710 (-32.7%)	1.3%	$194.45	+124.8%	Stock	443510607
TMO	THERMO FISHER SCIENTIFIC INC	17,921 (-9.2%)	$10,384 (+8.4%)	7.6%	$137.17	+312.0%	Stock	883556102
BRK/B	BERKSHIRE HATHAWAY INC DEL CL B	10,075 (-9.4%)	$5,064 (-9.5%)	3.7%	$246.13	+102.1%	Stock	084670702
HSY	HERSHEY CO	8,470 (-22.2%)	$1,541 (-24.3%)	1.1%	$125.83	+44.7%	Stock	427866108
MRK	MERCK & CO. INC	31,365 (-29.9%)	$3,301 (-12.1%)	2.4%	$74.64	+24.9%	Stock	58933Y105
TROW	PRICE T ROWE GROUP INC	37,850 (-10.0%)	$3,875 (-10.2%)	2.8%	$63.84	+60.1%	Stock	74144T108
XOM	EXXON MOBIL CORP	20,442 (-8.1%)	$2,460 (-1.9%)	1.8%	$59.35	+94.6%	Stock	30231G102
UPS	UNITED PARCEL SERVICE INC CL B	4,775 (-22.7%)	$474 (-8.2%)	0.3%	$64.68	+43.4%	Stock	911312106
AMGN	AMGEN INC	19,325 (-14.2%)	$6,325 (-0.5%)	4.6%	$110.62	+185.6%	Stock	031162100

Unchanged Positions (24)

ORCL ORACLE CORP 5.7%

Value ($000) $7,718 Shares 39,600 Est. Cost $29.26 Unrealized +713.5%

EXAS EXACT SCIENCES CORP 1.9%

Value ($000) $2,610 Shares 25,700 Est. Cost $68.63 Unrealized +17.0%

META META PLATFORMS INC CL A 7.7%

Value ($000) $10,446 Shares 15,825 Est. Cost $52.35 Unrealized +1174.7%

WMT WALMART INC 3.3%

Value ($000) $4,442 Shares 39,875 Est. Cost $44.45 Unrealized +141.1%

QCOM QUALCOMM INC 6.4%

Value ($000) $8,677 Shares 50,725 Est. Cost $51.55 Unrealized +231.3%

WBD WARNER BROS DISCOVERY INC SER A 0.5%

Value ($000) $712 Shares 24,700 Est. Cost $18.55 Unrealized +26.0%

KO COCA COLA CO 2.8%

Value ($000) $3,807 Shares 54,450 Est. Cost $30.56 Unrealized +127.1%

SIRI SIRIUSXM HOLDINGS INC COMMON STOCK 0.7%

Value ($000) $892 Shares 44,593 Est. Cost $31.06 Unrealized -30.8%

DLB DOLBY LABORATORIES INC CL A 0.8%

Value ($000) $1,133 Shares 17,650 Est. Cost $36.51 Unrealized +82.3%

CMCSA COMCAST CORP CL A 1.2%

Value ($000) $1,597 Shares 53,424 Est. Cost $25.35 Unrealized +12.6%

A AGILENT TECHNOLOGIES INC 0.8%

Value ($000) $1,048 Shares 7,700 Est. Cost $34.46 Unrealized +317.1%

VZ VERIZON COMMUNICATIONS INC 0.5%

Value ($000) $741 Shares 18,193 Est. Cost $35.30 Unrealized +14.7%

T AT&T INC 0.3%

Value ($000) $407 Shares 16,393 Est. Cost $12.00 Unrealized +110.6%

EPD ENTERPRISE PRODS PARTNERS LP 1.2%

Value ($000) $1,678 Shares 52,350 Est. Cost $45.29 Unrealized —

PFE PFIZER INC 1.2%

Value ($000) $1,692 Shares 67,935 Est. Cost $26.44 Unrealized -5.3%

PG PROCTER AND GAMBLE CO 0.3%

Value ($000) $393 Shares 2,743 Est. Cost $58.01 Unrealized +153.7%

JPM JPMORGAN CHASE & CO 1.0%

Value ($000) $1,319 Shares 4,092 Est. Cost $39.63 Unrealized +681.1%

SBUX STARBUCKS CORP 4.1%

Value ($000) $5,530 Shares 65,675 Est. Cost $42.87 Unrealized +96.1%

CL COLGATE PALMOLIVE CO 1.6%

Value ($000) $2,179 Shares 27,575 Est. Cost $48.40 Unrealized +61.8%

SHEL SHELL PLC 0.4%

Value ($000) $589 Shares 8,015 Est. Cost $54.97 Unrealized —

PAA PLAINS ALL AMERN PIPELINE LP 0.2%

Value ($000) $305 Shares 17,000 Est. Cost $51.32 Unrealized —

OKE ONEOK INC NEW COM 1.3%

Value ($000) $1,801 Shares 24,509 Est. Cost $57.97 Unrealized +21.5%

KMI KINDER MORGAN INC DEL 0.2%

Value ($000) $214 Shares 7,800 Est. Cost $19.65 Unrealized +36.9%

GIS GENERAL MLS INC 0.0%

Value ($000) $50 Shares 1,066 Est. Cost $48.95 Unrealized -3.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	ORACLE CORP	39,600	$7,718	5.7%	$29.26	+713.5%	Stock	68389X105
EXAS	EXACT SCIENCES CORP	25,700	$2,610	1.9%	$68.63	+17.0%	Stock	30063P105
META	META PLATFORMS INC CL A	15,825	$10,446	7.7%	$52.35	+1174.7%	Stock	30303M102
WMT	WALMART INC	39,875	$4,442	3.3%	$44.45	+141.1%	Stock	931142103
QCOM	QUALCOMM INC	50,725	$8,677	6.4%	$51.55	+231.3%	Stock	747525103
WBD	WARNER BROS DISCOVERY INC SER A	24,700	$712	0.5%	$18.55	+26.0%	Stock	934423104
KO	COCA COLA CO	54,450	$3,807	2.8%	$30.56	+127.1%	Stock	191216100
SIRI	SIRIUSXM HOLDINGS INC COMMON STOCK	44,593	$892	0.7%	$31.06	-30.8%	Stock	829933100
DLB	DOLBY LABORATORIES INC CL A	17,650	$1,133	0.8%	$36.51	+82.3%	Stock	25659T107
CMCSA	COMCAST CORP CL A	53,424	$1,597	1.2%	$25.35	+12.6%	Stock	20030N101
A	AGILENT TECHNOLOGIES INC	7,700	$1,048	0.8%	$34.46	+317.1%	Stock	00846U101
VZ	VERIZON COMMUNICATIONS INC	18,193	$741	0.5%	$35.30	+14.7%	Stock	92343V104
T	AT&T INC	16,393	$407	0.3%	$12.00	+110.6%	Stock	00206R102
EPD	ENTERPRISE PRODS PARTNERS LP	52,350	$1,678	1.2%	$45.29	—	Stock	293792107
PFE	PFIZER INC	67,935	$1,692	1.2%	$26.44	-5.3%	Stock	717081103
PG	PROCTER AND GAMBLE CO	2,743	$393	0.3%	$58.01	+153.7%	Stock	742718109
JPM	JPMORGAN CHASE & CO	4,092	$1,319	1.0%	$39.63	+681.1%	Stock	46625H100
SBUX	STARBUCKS CORP	65,675	$5,530	4.1%	$42.87	+96.1%	Stock	855244109
CL	COLGATE PALMOLIVE CO	27,575	$2,179	1.6%	$48.40	+61.8%	Stock	194162103
SHEL	SHELL PLC	8,015	$589	0.4%	$54.97	—	ADR	780259305
PAA	PLAINS ALL AMERN PIPELINE LP	17,000	$305	0.2%	$51.32	—	Stock	726503105
OKE	ONEOK INC NEW COM	24,509	$1,801	1.3%	$57.97	+21.5%	Stock	682680103
KMI	KINDER MORGAN INC DEL	7,800	$214	0.2%	$19.65	+36.9%	Stock	49456B101
GIS	GENERAL MLS INC	1,066	$50	0.0%	$48.95	-3.0%	Stock	370334104