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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
SPAB icon
176
State Street SPDR Portfolio Aggregate Bond ETF
SPAB
$9.78B
$735K 0.05%
28,473
-879
-3% -$22.7K
DHR icon
177
Danaher
DHR
$138B
$734K 0.05%
3,071
+458
+18% +$101K
EOG icon
178
EOG Resources
EOG
$74.7B
$731K 0.05%
6,928
-87
-1% -$9.35K
BLK icon
179
Blackrock
BLK
$165B
$728K 0.05%
668
-183
-22% -$200K
BIIB icon
180
Biogen
BIIB
$29.5B
$727K 0.05%
3,915
+1,112
+40% +$182K
AAON icon
181
Aaon
AAON
$8.27B
$726K 0.05%
8,509
-868
-9% -$80.2K
BMO icon
182
Bank of Montreal
BMO
$125B
$723K 0.05%
5,401
+145
+3% +$18.4K
VWO icon
183
Vanguard FTSE Emerging Markets ETF
VWO
$120B
$721K 0.05%
12,805
+4,050
+46% +$220K
FDVV icon
184
Fidelity High Dividend ETF
FDVV
$10.1B
$721K 0.05%
12,605
+2,263
+22% +$127K
CARR icon
185
Carrier Global
CARR
$57.6B
$720K 0.05%
13,008
-3,901
-23% -$217K
MRSH
186
Marsh
MRSH
$87.5B
$718K 0.05%
3,868
+281
+8% +$52.5K
VZ icon
187
Verizon
VZ
$198B
$715K 0.05%
17,942
-1,661
-8% -$67.4K
ISRG icon
188
Intuitive Surgical
ISRG
$128B
$706K 0.05%
1,233
+39
+3% +$20.8K
ROAD icon
189
Construction Partners
ROAD
$5.94B
$698K 0.05%
5,962
+3,929
+193% +$442K
CEG icon
190
Constellation Energy
CEG
$96.4B
$686K 0.05%
2,044
+178
+10% +$64.7K
TYL icon
191
Tyler Technologies
TYL
$13B
$674K 0.05%
1,510
-610
-29% -$291K
OLLI icon
192
Ollie's Bargain Outlet
OLLI
$4.04B
$668K 0.05%
5,592
-76
-1% -$9.16K
IWM icon
193
iShares Russell 2000 ETF
IWM
$80.3B
$668K 0.05%
2,554
-74
-3% -$18.2K
NKE icon
194
Nike
NKE
$62.5B
$666K 0.04%
10,147
-2,236
-18% -$146K
CDNS icon
195
Cadence Design Systems
CDNS
$93.4B
$652K 0.04%
2,002
-43
-2% -$14K
GUNR icon
196
FlexShares Global Upstream Natural Resources Index Fund
GUNR
$7.14B
$648K 0.04%
13,545
-2,009
-13% -$89.1K
MAS icon
197
Masco
MAS
$16.4B
$644K 0.04%
9,254
-1,126
-11% -$73.1K
GEV icon
198
GE Vernova
GEV
$265B
$637K 0.04%
996
+1
+0.1% +$609
RGEN icon
199
Repligen
RGEN
$7.39B
$635K 0.04%
3,770
-1,408
-27% -$221K
TXN icon
200
Texas Instruments
TXN
$255B
$630K 0.04%
3,333
-390
-10% -$66.8K
6 7
8
9 10

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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.