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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
(+15%)
Cap. Flow
+$152M
Cap. Flow
% of AUM
10.26%
Top 10 Holdings %
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 |
Avantis Emerging Markets Equity ETF
AVEM
|
+$20.4M |
| 3 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$9.61M |
| 4 |
Vanguard Tax-Exempt Bond Index Fund
VTEB
|
+$6.74M |
| 5 |
Vanguard S&P 500 ETF
VOO
|
+$6.62M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
|
+$110M |
| 2 |
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
|
+$101M |
| 3 |
Alerian MLP Index ETNs due January 28 2044
AMJB
|
+$8.34M |
| 4 |
Avantis Real Estate ETF
AVRE
|
+$3.96M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
401
Icon
ICLR
$13B
| $209K | 0.01% |
+1,161
| New | +$207K |
|
402
WEX
WEX
$6.17B
| $208K | 0.01% |
1,293
-69
| -5% | -$10.4K |
|
403
State Street SPDR S&P International Small Cap ETF
GWX
$863M
| $208K | 0.01% |
+4,910
| New | +$197K |
|
404
State Street Technology Select Sector SPDR ETF
XLK
$114B
| $206K | 0.01% |
1,402
-1,068
| -43% | -$154K |
|
405
T. Rowe Price
TROW
$25.5B
| $205K | 0.01% |
1,922
+22
| +1% | +$2.27K |
|
406
Vanguard Short-Term Bond ETF
BSV
$44.6B
| $205K | 0.01% |
2,599
+5
| +0.2% | +$394 |
|
407
S&P Global
SPGI
$130B
| $204K | 0.01% |
+375
| New | +$186K |
|
408
Ventas
VTR
$48.7B
| $202K | 0.01% |
+2,673
| New | +$202K |
|
|
PR
409
Permian Resources
PR
$17B
| $192K | 0.01% |
13,723
+240
| +2% | +$3.22K |
|
410
Wabash National
WNC
$538M
| $165K | 0.01% |
15,334
+135
| +0.9% | +$1.18K |
|
411
AGNC Investment
AGNC
$12.4B
| $163K | 0.01% |
14,348
| – | – |
|
412
Cleveland-Cliffs
CLF
$6.99B
| $141K | 0.01% |
10,937
-2,814
| -20% | -$35.5K |
|
413
Certara
CERT
$1.21B
| $123K | 0.01% |
13,092
-17,516
| -57% | -$180K |
|
414
Nokia
NOK
$51.8B
| $102K | 0.01% |
15,510
| – | – |
|
415
Lloyds Banking Group
LYG
$89B
| $69.2K | ﹤0.01% |
+12,659
| New | +$61.3K |
|
416
Gray Television
GTN
$409M
| $64.9K | ﹤0.01% |
14,955
+244
| +2% | +$1.19K |
|
|
INV
417
Innventure Inc
INV
$255M
| $62.1K | ﹤0.01% |
14,311
-1,126
| -7% | -$4.73K |
|
418
Ardagh Metal Packaging
AMBP
$2.89B
| $42.8K | ﹤0.01% |
10,000
| – | – |
|
419
Akebia Therapeutics
AKBA
$343M
| $28K | ﹤0.01% |
20,000
| – | – |
|
420
Alight
ALIT
$520M
| $27K | ﹤0.01% |
813
+188
| +30% | +$9.37K |
|
421
Heron Therapeutics
HRTX
$86.9M
| $23.8K | ﹤0.01% |
16,000
| – | – |
|
|
ALE
422
DELISTED
Allete
ALE
| – | – |
-4,243
| Closed | -$286K |
|
423
CACI
CACI
$11B
| – | – |
-403
| Closed | -$212K |
|
424
Crown Castle
CCI
$32.4B
| – | – |
-2,228
| Closed | -$212K |
|
425
CDW
CDW
$17.6B
| – | – |
-1,383
| Closed | -$215K |
|
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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.