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Nicolet Bankshares Portfolio holdings

AUM $2.71B
1-Year Est. Return 17.55%
This Fund
S&P 500
This Quarter Est. Return
+0.53%
1 Year Est. Return
+17.55%
3 Year Est. Return
+63.91%
5 Year Est. Return
+76.2%
10 Year Est. Return
+266.82%
AUM
$624M
AUM Growth
+$1.7M
Cap. Flow
+$3.01M
Cap. Flow %
0.48%
Top 10 Hldgs %
50.54%
Holding
239
New
21
Increased
71
Reduced
98
Closed
13

Top Buys

Rank Stock Value
1
SPYM
State Street SPDR Portfolio S&P 500 ETF
SPYM
+$39.8M
2
VONE icon
Vanguard Russell 1000 ETF
VONE
+$9.77M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$3.8M
4
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$2.4M
5
AVEM icon
Avantis Emerging Markets Equity ETF
AVEM
+$2.19M

Top Sells

Rank Stock Value
1
SPYV icon
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
+$19.8M
2
SPYG icon
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
+$17.6M
3
NVDA icon
NVIDIA
NVDA
+$2.85M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$2.84M
5
MSFT icon
Microsoft
MSFT
+$2.02M

Sector Composition

Rank Sector Weight
1 Financials 21.09%
2 Technology 9.99%
3 Industrials 3.28%
4 Communication Services 3.18%
5 Healthcare 3.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
V icon
76
Visa
V
$678B
$1.32M 0.21%
3,754
+19
+0.5% +$6.47K
COR icon
77
Cencora
COR
$61.4B
$1.29M 0.21%
3,821
-1,111
-23% -$379K
AGG icon
78
iShares Core US Aggregate Bond ETF
AGG
$138B
$1.27M 0.2%
12,671
+3,182
+34% +$319K
SCHW
79
Charles Schwab
SCHW
$189B
$1.26M 0.2%
12,658
-1,771
-12% -$168K
VOOG icon
80
Vanguard S&P 500 Growth ETF
VOOG
$27.4B
$1.26M 0.2%
17,046
– –
NSC icon
81
Norfolk Southern
NSC
$75.5B
$1.25M 0.2%
4,322
-1,937
-31% -$560K
LOW icon
82
Lowe's Companies
LOW
$122B
$1.25M 0.2%
5,167
+42
+0.8% +$10.1K
VXF icon
83
Vanguard Extended Market ETF
VXF
$31.9B
$1.21M 0.19%
5,804
+2,109
+57% +$443K
YLD icon
84
Principal Active High Yield ETF
YLD
$582M
$1.2M 0.19%
63,107
+7,486
+13% +$143K
GUNR icon
85
FlexShares Global Upstream Natural Resources Index Fund
GUNR
$7.02B
$1.17M 0.19%
25,409
-2,566
-9% -$114K
PFE icon
86
Pfizer
PFE
$153B
$1.16M 0.19%
46,404
+1,012
+2% +$25.5K
ADBE icon
87
Adobe
ADBE
$106B
$1.15M 0.18%
3,272
-1,654
-34% -$563K
IWB icon
88
iShares Russell 1000 ETF
IWB
$50.2B
$1.13M 0.18%
3,025
-32
-1% -$11.9K
NEE icon
89
NextEra Energy
NEE
$175B
$1.12M 0.18%
13,947
-2,819
-17% -$233K
IBM icon
90
IBM
IBM
$224B
$1.1M 0.18%
3,725
-6
-0.2% -$1.8K
BFC icon
91
Bank First Corp
BFC
$1.7B
$1.09M 0.17%
8,914
– –
EMR icon
92
Emerson Electric
EMR
$88.2B
$1.06M 0.17%
8,019
+5,205
+185% +$690K
PEP icon
93
PepsiCo
PEP
$188B
$1.06M 0.17%
7,366
+7
+0.1% +$1.03K
IWS icon
94
iShares Russell Mid-Cap Value ETF
IWS
$15.9B
$1.03M 0.16%
7,292
– –
DHR icon
95
Danaher
DHR
$144B
$996K 0.16%
4,351
-571
-12% -$126K
TMO icon
96
Thermo Fisher Scientific
TMO
$219B
$993K 0.16%
1,713
+35
+2% +$19.8K
GS icon
97
Goldman Sachs
GS
$304B
$986K 0.16%
1,122
+166
+17% +$135K
ICE icon
98
Intercontinental Exchange
ICE
$84.7B
$978K 0.16%
6,037
-1,563
-21% -$245K
DIS icon
99
Walt Disney
DIS
$179B
$974K 0.16%
8,565
-1,802
-17% -$198K
AVDE icon
100
Avantis International Equity ETF
AVDE
$18.7B
$968K 0.16%
+11,765
New +$944K
2 3
4
5 6

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SCM
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NCM
Nantahala Capital Management New Canaan, Connecticut $2.72B AUM 121.58% 1-Year Est. Return
TAM
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HCM
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LP
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XL
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CI
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Nicolet Bankshares's Q4 2025 Portfolio in Review

As of Q4 2025, Nicolet Bankshares held 239 positions worth $624M, up 0.27% from $622M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Nicolet Bankshares's Q4 2025 filing shows 21 new, 71 increased, 98 reduced and 13 closed positions. Its largest new stake was State Street SPDR Portfolio S&P 500 ETF: 500,712 shares worth $40.2M. The largest sale was State Street SPDR Portfolio S&P 500 Value ETF, an estimated $19.8M.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 24% a quarter earlier, followed by Technology and Industrials.

  • Nicolet Bankshares's largest Q4 2025 buy was State Street SPDR Portfolio S&P 500 ETF: 500,712 shares worth $40.2M.
  • Nicolet Bankshares added most to Vanguard S&P 500 ETF in Q4 2025, an estimated $3.8M increase.
  • Nicolet Bankshares's biggest Q4 2025 reduction was State Street SPDR Portfolio S&P 500 Value ETF, cutting an estimated $19.8M.
  • Nicolet Bankshares fully exited iShares Bitcoin Trust in Q4 2025, selling an estimated $1.29M.
  • Nicolet Bankshares's ten largest holdings make up 51% of its $624M portfolio in Q4 2025.
  • Nicolet Bankshares opened 21 new positions and closed 13 in Q4 2025.
  • Nicolet Bankshares's portfolio value rose 0.27% quarter-over-quarter to $624M.

Based on Nicolet Bankshares's 13F filing for Q4 2025, filed 9 Feb 2026.