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NAS

Nicolet Advisory Services Portfolio holdings

AUM $1.48B
1-Year Est. Return 17.28%
This Fund
S&P 500
This Quarter Est. Return
+2.31%
1 Year Est. Return
+17.28%
3 Year Est. Return
+62.72%
5 Year Est. Return
+62.5%
10 Year Est. Return
–
AUM
$1.48B
AUM Growth
+$199M
Cap. Flow
+$152M
Cap. Flow %
10.26%
Top 10 Hldgs %
49.35%
Holding
449
New
35
Increased
207
Reduced
159
Closed
28

Top Buys

Rank Stock Value
1
SPYM
State Street SPDR Portfolio S&P 500 ETF
SPYM
+$285M
2
AVEM icon
Avantis Emerging Markets Equity ETF
AVEM
+$20.4M
3
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$9.61M
4
VTEB icon
Vanguard Tax-Exempt Bond Index Fund
VTEB
+$6.74M
5
VOO icon
Vanguard S&P 500 ETF
VOO
+$6.62M

Top Sells

Rank Stock Value
1
SPYV icon
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
+$110M
2
SPYG icon
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
+$101M
3
AMJB icon
Alerian MLP Index ETNs due January 28 2044
AMJB
+$8.34M
4
AVRE icon
Avantis Real Estate ETF
AVRE
+$3.96M
5
IGF icon
iShares Global Infrastructure ETF
IGF
+$3.77M

Sector Composition

Rank Sector Weight
1 Technology 10.43%
2 Financials 6.63%
3 Industrials 3.55%
4 Consumer Staples 3.5%
5 Consumer Discretionary 3.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXPO icon
251
Exponent
EXPO
$3.04B
$443K 0.03%
5,952
-4,404
-43% -$309K
HEI.A icon
252
HEICO Corp Class A
HEI.A
$36.3B
$442K 0.03%
1,611
+291
+22% +$71.9K
VEU icon
253
Vanguard FTSE All-World ex-US ETF
VEU
$65.9B
$442K 0.03%
5,770
+204
+4% +$14.8K
VOOG icon
254
Vanguard S&P 500 Growth ETF
VOOG
$25.3B
$435K 0.03%
5,790
+270
+5% +$19.9K
LIN icon
255
Linde
LIN
$234B
$432K 0.03%
973
+49
+5% +$21K
URI icon
256
United Rentals
URI
$70.2B
$423K 0.03%
446
+5
+1% +$4.34K
ROP icon
257
Roper Technologies
ROP
$37.1B
$423K 0.03%
978
+166
+20% +$76.9K
ONTO icon
258
Onto Innovation
ONTO
$13B
$423K 0.03%
2,213
-878
-28% -$125K
CMCSA icon
259
Comcast
CMCSA
$80.9B
$422K 0.03%
14,530
-13,535
-48% -$386K
SCHX icon
260
Schwab US Large- Cap ETF
SCHX
$71.1B
$419K 0.03%
+15,265
New +$408K
WM icon
261
Waste Management
WM
$95.5B
$418K 0.03%
1,911
-401
-17% -$85.5K
CME icon
262
CME Group
CME
$91.8B
$418K 0.03%
1,576
+259
+20% +$70.4K
INTC icon
263
Intel
INTC
$462B
$416K 0.03%
9,445
-345
-4% -$13K
VOE icon
264
Vanguard Mid-Cap Value ETF
VOE
$23.8B
$411K 0.03%
2,243
+197
+10% +$34.5K
AJG icon
265
Arthur J. Gallagher & Co
AJG
$65.1B
$411K 0.03%
1,551
-13
-0.8% -$3.44K
QCOM icon
266
Qualcomm
QCOM
$179B
$409K 0.03%
2,414
+295
+14% +$50.6K
CB icon
267
Chubb
CB
$139B
$408K 0.03%
1,332
+63
+5% +$18.4K
OSBC icon
268
Old Second Bancorp
OSBC
$1.27B
$399K 0.03%
20,210
– –
CRWD icon
269
CrowdStrike
CRWD
$183B
$398K 0.03%
3,412
+20
+0.6% +$2.55K
FISV
270
Fiserv Inc
FISV
$27.9B
$395K 0.03%
5,797
-1,599
-22% -$134K
VBK icon
271
Vanguard Small-Cap Growth ETF
VBK
$23.3B
$395K 0.03%
1,228
-286
-19% -$86.3K
ADP icon
272
Automatic Data Processing
ADP
$102B
$393K 0.03%
1,497
-251
-14% -$66.8K
AEP icon
273
American Electric Power
AEP
$72.7B
$390K 0.03%
3,348
+294
+10% +$34.7K
SHW icon
274
Sherwin-Williams
SHW
$80.7B
$390K 0.03%
1,091
-75
-6% -$25.1K
PNC icon
275
PNC Financial Services
PNC
$99.6B
$388K 0.03%
1,797
-812
-31% -$157K
9 10
11
12 13

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GH
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JCM
Janney Capital Management Pittsburgh, Pennsylvania $1.59B AUM 23.25% 1-Year Est. Return
LGWM
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APW
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MSFS
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CB
Cadence Bank Tupelo, Mississippi $1.71B AUM 16.17% 1-Year Est. Return
QLSGSCF
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Nicolet Advisory Services's Q4 2025 Portfolio in Review

As of Q4 2025, Nicolet Advisory Services held 449 positions worth $1.48B, up 15% from $1.29B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Nicolet Advisory Services deployed $152M of net new capital in Q4 2025, opening 35 new positions and adding to 207 existing holdings. Its largest new stake was Vanguard Russell 1000 ETF: 16,135 shares worth $5.09M.

By sector, the portfolio is most concentrated in Technology at 10% of assets, down from 11% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was State Street SPDR Portfolio S&P 500 Value ETF, an estimated $110M trimmed.

  • Nicolet Advisory Services's largest Q4 2025 buy was Vanguard Russell 1000 ETF: 16,135 shares worth $5.09M.
  • Nicolet Advisory Services added most to State Street SPDR Portfolio S&P 500 ETF in Q4 2025, an estimated $285M increase.
  • Nicolet Advisory Services's biggest Q4 2025 reduction was State Street SPDR Portfolio S&P 500 Value ETF, cutting an estimated $110M.
  • Nicolet Advisory Services fully exited State Street SPDR S&P Global Infrastructure ETF in Q4 2025, selling an estimated $965K.
  • Nicolet Advisory Services's ten largest holdings make up 49% of its $1.48B portfolio in Q4 2025.
  • Nicolet Advisory Services opened 35 new positions and closed 28 in Q4 2025.
  • Nicolet Advisory Services's portfolio value rose 15% quarter-over-quarter to $1.48B.

Based on Nicolet Advisory Services's 13F filing for Q4 2025, filed 13 Feb 2026.