NAS

Nicolet Advisory Services Portfolio holdings

AUM $1.01B

This Quarter Return

-0.9%

1 Year Return

+8.24%

3 Year Return

+22.46%

5 Year Return

+85.59%

10 Year Return

–

AUM

$1.01B

AUM Growth

-$80.5M (-7%)

Cap. Flow

-$13.8M

Cap. Flow % of AUM

-1.37%

Top 10 Holdings %Top 10 Hldgs %

46.67%

Holding

412

New

Increased

192

Reduced

143

Closed

Top Buys

1	Berkshire Hathaway Class B BRK.B	$1.81M
2	Vanguard Short-Term Treasury ETF VGSH	$1.53M
3	Avantis Emerging Markets Equity ETF AVEM	$1.42M
4	SPDR Nuveen ICE Municipal Bond ETF TFI	$1.23M
5	Vanguard Tax-Exempt Bond Index Fund VTEB	$946K

Top Sells

1	iShares 10-20 Year Treasury Bond ETF TLH	$14.4M
2	Vanguard Total Bond Market BND	$2.81M
3	SPDR Portfolio S&P 500 Value ETF SPYV	$2.53M
4	iShares Core S&P Total US Stock Market ETF ITOT	$2.3M
5	Travelers Companies TRV	$1.71M

Sector Composition

1	Technology	9.08%
2	Financials	8.18%
3	Consumer Staples	4.98%
4	Industrials	3.51%
5	Consumer Discretionary	3.22%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 Alerian MLP ETF AMLP $10.5B	$9.1M	0.9%	198,683 -4,010	-2%	-$184K
27	27 Vanguard Small-Cap ETF VB $65.9B	$8.62M	0.85%	42,439 -949	-2%	-$193K
28	28 Vanguard Value ETF VTV $142B	$7.4M	0.73%	46,388 -1,698	-4%	-$271K
29	29 Bank First Corp BFC $1.25B	$7.23M	0.72%	72,827 +128	+0.2%	+$12.7K
30	30 iShares Short-Term National Muni Bond ETF SUB $10B	$7.17M	0.71%	68,201 +2,958	+5%	+$311K
31	31 Home Depot HD $373B	$7.16M	0.71%	20,251 +1,247	+7%	+$441K
32	32 Alphabet (Google) Class A GOOGL $2.34T	$6.8M	0.67%	44,502 +2,467	+6%	+$377K
33	33 Coca-Cola KO $298B	$6.52M	0.65%	92,098 +2,538	+3%	+$180K
34	34 Vanguard Growth ETF VUG $182B	$6.48M	0.64%	18,339 -150	-0.8%	-$53K
35	35 PepsiCo PEP $196B	$6.2M	0.61%	42,990 +1,989	+5%	+$287K
36	36 SPDR S&P 500 ETF Trust SPY $655B	$6.11M	0.61%	11,642 -886	-7%	-$465K
37	37 Meta Platforms (Facebook) META $1.79T	$5.16M	0.51%	9,454 +436	+5%	+$238K
38	38 Abbott ABT $220B	$4.38M	0.43%	35,160 +2,156	+7%	+$268K
39	39 Walmart WMT $778B	$4.31M	0.43%	47,583 +1,511	+3%	+$137K
40	40 iShares Global Infrastructure ETF IGF $7.57B	$4.02M	0.4%	76,143 -3,569	-4%	-$188K
41	41 Oshkosh OSK $8.29B	$3.74M	0.37%	44,253 +2,023	+5%	+$171K
42	42 Exxon Mobil XOM $476B	$3.6M	0.36%	36,027 +1,547	+4%	+$155K
43	43 Dimensional US Core Equity 2 ETF DFAC $36.3B	$3.53M	0.35%	115,173 -2,836	-2%	-$86.9K
44	44 Costco COST $415B	$3.47M	0.34%	3,598 +76	+2%	+$73.3K
45	45 Alphabet (Google) Class C GOOG $2.35T	$3.41M	0.34%	21,969 +1,680	+8%	+$261K
46	46 FlexShares Global Upstream Natural Resources Index Fund GUNR $4.88B	$3.32M	0.33%	94,137 -11,505	-11%	-$406K
47	47 TJX Companies TJX $141B	$3.18M	0.32%	24,960 -920	-4%	-$117K
48	48 Eaton ETN $153B	$3.15M	0.31%	11,652 +854	+8%	+$231K
49	49 UnitedHealth UNH $255B	$3.11M	0.31%	5,234 -1,116	-18%	-$663K
50	50 SPDR S&P MidCap 400 ETF Trust MDY $23.4B	$2.84M	0.28%	5,794 +1,279	+28%	+$628K