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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
NFLX icon
101
Netflix
NFLX
$312B
$967K 0.15%
10,310
+150
+1% +$16.2K
BMY icon
102
Bristol-Myers Squibb
BMY
$132B
$942K 0.15%
17,463
+1,102
+7% +$53K
IWP icon
103
iShares Russell Mid-Cap Growth ETF
IWP
$20.7B
$924K 0.15%
6,748
+691
+11% +$96.6K
BA icon
104
Boeing
BA
$186B
$916K 0.15%
4,217
+142
+3% +$29.2K
GSK icon
105
GSK
GSK
$104B
$914K 0.15%
18,645
-7,567
-29% -$353K
BX icon
106
Blackstone
BX
$110B
$909K 0.15%
5,895
-2,022
-26% -$307K
JMBS icon
107
Janus Henderson Mortgage-Backed Securities ETF
JMBS
$6.74B
$905K 0.15%
19,815
+5,992
+43% +$274K
PM icon
108
Philip Morris
PM
$292B
$898K 0.14%
5,600
+76
+1% +$11.8K
RSP icon
109
Invesco S&P 500 Equal Weight ETF
RSP
$99.1B
$883K 0.14%
4,610
+185
+4% +$35.1K
VOT icon
110
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$19.8B
$881K 0.14%
3,157
+2,144
+212% +$614K
HON icon
111
Honeywell
HON
$77.3B
$870K 0.14%
4,459
-4,064
-48% -$795K
IEMG icon
112
iShares Core MSCI Emerging Markets ETF
IEMG
$156B
$865K 0.14%
12,861
-119
-0.9% -$7.98K
VWO icon
113
Vanguard FTSE Emerging Markets ETF
VWO
$126B
$857K 0.14%
15,950
+1,336
+9% +$72.6K
VEU icon
114
Vanguard FTSE All-World ex-US ETF
VEU
$70B
$848K 0.14%
11,533
+632
+6% +$46K
VGSH icon
115
Vanguard Short-Term Treasury ETF
VGSH
$30.2B
$848K 0.14%
14,445
+2,241
+18% +$132K
VHT icon
116
Vanguard Health Care ETF
VHT
$18.9B
$815K 0.13%
2,832
– –
UNH icon
117
UnitedHealth
UNH
$372B
$810K 0.13%
2,454
-105
-4% -$35.6K
MDLZ icon
118
Mondelez International
MDLZ
$78.7B
$790K 0.13%
14,672
-7,548
-34% -$435K
IJR icon
119
iShares Core S&P Small-Cap ETF
IJR
$112B
$765K 0.12%
6,368
+757
+13% +$90.5K
C icon
120
Citigroup
C
$227B
$754K 0.12%
6,462
+472
+8% +$49K
IWR icon
121
iShares Russell Mid-Cap ETF
IWR
$57.5B
$753K 0.12%
7,818
+2,174
+39% +$209K
MDY icon
122
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$27B
$745K 0.12%
1,235
-6
-0.5% -$3.59K
CVS icon
123
CVS Health
CVS
$122B
$744K 0.12%
9,376
-2,224
-19% -$175K
UNP icon
124
Union Pacific
UNP
$174B
$743K 0.12%
3,211
-270
-8% -$61.6K
APH icon
125
Amphenol
APH
$210B
$736K 0.12%
5,444
-300
-5% -$40.1K
3 4
5
6 7

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SCM
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NCM
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TAM
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HCM
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LP
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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.