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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
VGSH icon
26
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$11.4M 0.77%
194,125
-11,774
-6% -$692K
GOOG icon
27
Alphabet (Google) Class C
GOOG
$3.99T
$11.2M 0.76%
33,704
+10,156
+43% +$2.91M
MUB icon
28
iShares National Muni Bond ETF
MUB
$45.2B
$10.7M 0.72%
99,281
+2,947
+3% +$316K
SPY icon
29
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$10.1M 0.68%
14,510
+396
+3% +$268K
SUB icon
30
iShares Short-Term National Muni Bond ETF
SUB
$11.4B
$8.28M 0.56%
77,478
+9,629
+14% +$1.03M
YLD icon
31
Principal Active High Yield ETF
YLD
$570M
$8.27M 0.56%
433,302
-106,235
-20% -$2.03M
VUG icon
32
Vanguard Growth ETF
VUG
$216B
$8.24M 0.56%
100,440
-8,760
-8% -$711K
HD icon
33
Home Depot
HD
$335B
$8.12M 0.55%
21,667
+607
+3% +$222K
KO icon
34
Coca-Cola
KO
$362B
$8.06M 0.54%
114,363
+18,426
+19% +$1.28M
AMLP icon
35
Alerian MLP ETF
AMLP
$12.7B
$7.79M 0.52%
160,871
-53,450
-25% -$2.5M
META icon
36
Meta Platforms (Facebook)
META
$1.51T
$7.35M 0.5%
11,446
+1,663
+17% +$1.11M
AMJB icon
37
Alerian MLP Index ETNs due January 28 2044
AMJB
$855M
$6.55M 0.44%
211,761
-280,701
-57% -$8.34M
OSK icon
38
Oshkosh
OSK
$9.66B
$6.38M 0.43%
42,601
-130
-0.3% -$16.7K
WMT icon
39
Walmart Inc
WMT
$889B
$5.89M 0.4%
49,948
+2,088
+4% +$224K
AVGO icon
40
Broadcom
AVGO
$1.82T
$5.65M 0.38%
16,047
+2,815
+21% +$1.01M
VONE icon
41
Vanguard Russell 1000 ETF
VONE
$8.19B
$5.09M 0.34%
+16,135
New +$4.94M
MDY icon
42
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.9B
$5.07M 0.34%
8,023
+961
+14% +$575K
BFC icon
43
Bank First Corp
BFC
$1.65B
$5.02M 0.34%
40,765
-4,460
-10% -$568K
PEP icon
44
PepsiCo
PEP
$191B
$4.96M 0.33%
35,081
-7,565
-18% -$1.11M
BA icon
45
Boeing
BA
$167B
$4.89M 0.33%
20,406
+1,851
+10% +$381K
ABT icon
46
Abbott
ABT
$182B
$4.55M 0.31%
36,484
-2,984
-8% -$380K
XOM icon
47
ExxonMobil
XOM
$642B
$4.55M 0.31%
36,660
+2,148
+6% +$249K
TSLA icon
48
Tesla
TSLA
$1.22T
$4.54M 0.31%
10,109
+489
+5% +$217K
ETN icon
49
Eaton
ETN
$155B
$4.5M 0.3%
13,674
+1,432
+12% +$507K
VGIT icon
50
Vanguard Intermediate-Term Treasury ETF
VGIT
$41.7B
$4.47M 0.3%
74,685
+3,598
+5% +$216K
1
2
3 4 5

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MPM
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GH
GAM Holding Zurich, Switzerland $1.57B AUM 25.73% 1-Year Est. Return
JCM
Janney Capital Management Pittsburgh, Pennsylvania $1.59B AUM 23.25% 1-Year Est. Return
LGWM
Litman Gregory Wealth Management Larkspur, California $1.37B AUM 16.95% 1-Year Est. Return
APW
Austin Private Wealth Austin, Texas $1.35B AUM 17.75% 1-Year Est. Return
MSFS
Main Street Financial Solutions Newtown, Pennsylvania $1.34B AUM 19.49% 1-Year Est. Return
CB
Cadence Bank Tupelo, Mississippi $1.71B AUM 16.17% 1-Year Est. Return
QLSGSCF
Quent Long Short Global Small Cap Fund New York $1.23B AUM

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.