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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
NSC icon
101
Norfolk Southern
NSC
$77.1B
$1.53M 0.1%
5,299
+648
+14% +$187K
TFI icon
102
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
$3.06B
$1.46M 0.1%
31,802
-1,714
-5% -$78.4K
TMO icon
103
Thermo Fisher Scientific
TMO
$208B
$1.43M 0.1%
2,329
-240
-9% -$136K
RBC icon
104
RBC Bearings
RBC
$18.5B
$1.42M 0.1%
2,910
-27
-0.9% -$11.4K
PANW icon
105
Palo Alto Networks
PANW
$259B
$1.42M 0.1%
7,511
+2,762
+58% +$557K
MS icon
106
Morgan Stanley
MS
$337B
$1.42M 0.1%
7,600
+121
+2% +$20.2K
MRK icon
107
Merck
MRK
$323B
$1.4M 0.09%
12,786
+1,069
+9% +$100K
CVS icon
108
CVS Health
CVS
$137B
$1.39M 0.09%
17,352
+3,199
+23% +$252K
PLTR icon
109
Palantir
PLTR
$315B
$1.39M 0.09%
7,734
-305
-4% -$55.2K
ICE icon
110
Intercontinental Exchange
ICE
$84.1B
$1.36M 0.09%
8,184
+1,308
+19% +$205K
DE icon
111
Deere & Co
DE
$169B
$1.35M 0.09%
2,752
-33
-1% -$15.5K
UNH icon
112
UnitedHealth
UNH
$379B
$1.33M 0.09%
3,893
-104
-3% -$35.2K
LOW icon
113
Lowe's Companies
LOW
$119B
$1.31M 0.09%
4,838
+1,218
+34% +$292K
SPMD icon
114
State Street SPDR Portfolio S&P 400 Mid Cap ETF
SPMD
$18.4B
$1.3M 0.09%
21,482
-9,214
-30% -$529K
IWD icon
115
iShares Russell 1000 Value ETF
IWD
$81.5B
$1.3M 0.09%
5,961
-1,216
-17% -$251K
VOT icon
116
Vanguard Mid-Cap Growth ETF
VOT
$19.2B
$1.28M 0.09%
4,473
-205
-4% -$58.7K
KEYS icon
117
Keysight
KEYS
$53.6B
$1.27M 0.09%
6,105
+193
+3% +$35.8K
PFE icon
118
Pfizer
PFE
$141B
$1.24M 0.08%
49,120
+6,583
+15% +$166K
GSK icon
119
GSK
GSK
$104B
$1.23M 0.08%
24,429
+9,262
+61% +$432K
SLB icon
120
SLB Ltd
SLB
$76.5B
$1.22M 0.08%
26,954
+6,939
+35% +$252K
BKNG icon
121
Booking.com
BKNG
$145B
$1.21M 0.08%
5,625
+50
+0.9% +$10.3K
MPC icon
122
Marathon Petroleum
MPC
$91.2B
$1.16M 0.08%
6,611
-9
-0.1% -$1.68K
INTU icon
123
Intuit
INTU
$83.1B
$1.16M 0.08%
1,822
+530
+41% +$350K
SHOP icon
124
Shopify
SHOP
$165B
$1.15M 0.08%
6,863
+3,271
+91% +$525K
AOA icon
125
iShares Core 80/20 Aggressive Allocation ETF
AOA
$3.16B
$1.15M 0.08%
12,561
+39
+0.3% +$3.47K
3 4
5
6 7

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GH
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JCM
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LGWM
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APW
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MSFS
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CB
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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.