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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
TSM icon
201
TSMC
TSM
$2.07T
$627K 0.04%
1,890
-2
-0.1% -$587
CMI icon
202
Cummins
CMI
$91.3B
$619K 0.04%
1,101
+17
+2% +$7.95K
MOFG
203
DELISTED
MidWestOne Financial Group
MOFG
$618K 0.04%
+15,496
New +$565K
AGG icon
204
iShares Core US Aggregate Bond ETF
AGG
$138B
$615K 0.04%
6,148
-6,867
-53% -$689K
IGF icon
205
iShares Global Infrastructure ETF
IGF
$10.9B
$613K 0.04%
9,908
-61,025
-86% -$3.77M
ORLY icon
206
O'Reilly Automotive
ORLY
$75.1B
$608K 0.04%
6,361
+811
+15% +$79.2K
RYAN icon
207
Ryan Specialty Holdings
RYAN
$5.59B
$604K 0.04%
11,911
-401
-3% -$22K
IWN icon
208
iShares Russell 2000 Value ETF
IWN
$14.4B
$604K 0.04%
3,152
+1,448
+85% +$260K
IJR icon
209
iShares Core S&P Small-Cap ETF
IJR
$110B
$598K 0.04%
4,724
+829
+21% +$99.1K
UBER icon
210
Uber
UBER
$139B
$590K 0.04%
6,973
-1,577
-18% -$142K
IYW icon
211
iShares US Technology ETF
IYW
$23.3B
$586K 0.04%
2,893
+37
+1% +$7.4K
SHM icon
212
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.46B
$581K 0.04%
12,074
-2,795
-19% -$134K
PYPL icon
213
PayPal
PYPL
$49.5B
$580K 0.04%
10,123
+901
+10% +$58.5K
IBIT icon
214
iShares Bitcoin Trust
IBIT
$48.2B
$574K 0.04%
11,074
+3,652
+49% +$207K
ADBE icon
215
Adobe
ADBE
$94.5B
$562K 0.04%
1,715
-274
-14% -$93.2K
AMGN icon
216
Amgen
AMGN
$203B
$553K 0.04%
1,699
-114
-6% -$36.2K
DSGX icon
217
Descartes Systems
DSGX
$6.09B
$540K 0.04%
6,094
-813
-12% -$72.7K
ETR icon
218
Entergy
ETR
$53.1B
$537K 0.04%
5,745
+67
+1% +$6.36K
FERG icon
219
Ferguson
FERG
$45.4B
$530K 0.04%
2,195
-350
-14% -$83.6K
SCHD icon
220
Schwab US Dividend Equity ETF
SCHD
$103B
$529K 0.04%
18,544
-361
-2% -$9.82K
IJH icon
221
iShares Core S&P Mid-Cap ETF
IJH
$123B
$521K 0.04%
7,529
-4,776
-39% -$313K
FIS icon
222
Fidelity National Information Services
FIS
$22.3B
$520K 0.04%
7,848
-1,577
-17% -$104K
CSX icon
223
CSX Corp
CSX
$96B
$517K 0.03%
14,673
-1,335
-8% -$47.8K
SNDR icon
224
Schneider National
SNDR
$6.44B
$512K 0.03%
+17,802
New +$420K
HQY icon
225
HealthEquity
HQY
$8.28B
$509K 0.03%
6,021
+3,713
+161% +$355K
7 8
9
10 11

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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.