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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
NIC icon
1
Nicolet Bankshares
NIC
$3.57B
$107M 17.17%
883,159
-3,885
-0.4% -$491K
SPYM
2
State Street SPDR Portfolio S&P 500 ETF
SPYM
$160B
$40.2M 6.44%
+500,712
New +$39.8M
SPYV icon
3
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
$36.2B
$40.2M 6.44%
706,930
-351,781
-33% -$19.8M
VOO icon
4
Vanguard S&P 500 ETF
VOO
$972B
$30.7M 4.93%
49,029
+6,119
+14% +$3.8M
SPYG icon
5
State Street SPDR Portfolio S&P 500 Growth ETF
SPYG
$51B
$23.8M 3.82%
223,453
-165,655
-43% -$17.6M
AVEM icon
6
Avantis Emerging Markets Equity ETF
AVEM
$25.4B
$17.7M 2.84%
230,389
+28,573
+14% +$2.19M
AAPL icon
7
Apple
AAPL
$4.9T
$16.2M 2.59%
59,427
-7,114
-11% -$1.91M
SPY icon
8
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$13.6M 2.19%
19,996
-138
-0.7% -$93.3K
IVW icon
9
iShares S&P 500 Growth ETF
IVW
$72.7B
$13.1M 2.1%
106,070
-1,515
-1% -$185K
MSFT icon
10
Microsoft
MSFT
$3.35T
$12.7M 2.04%
26,263
-4,025
-13% -$2.02M
VEA icon
11
Vanguard FTSE Developed Markets ETF
VEA
$230B
$12.4M 1.98%
197,735
+39,239
+25% +$2.4M
NVDA icon
12
NVIDIA
NVDA
$4.72T
$11.3M 1.81%
60,623
-15,308
-20% -$2.85M
IVV icon
13
iShares Core S&P 500 ETF
IVV
$872B
$10.7M 1.71%
15,595
+1,002
+7% +$680K
VONE icon
14
Vanguard Russell 1000 ETF
VONE
$8.22B
$9.86M 1.58%
+31,891
New +$9.77M
AVRE icon
15
Avantis Real Estate ETF
AVRE
$878M
$8.28M 1.33%
190,247
+5,552
+3% +$245K
GOOGL icon
16
Alphabet (Google) Class A
GOOGL
$4.08T
$7.49M 1.2%
23,915
+2,592
+12% +$741K
AMZN icon
17
Amazon
AMZN
$2.53T
$6.33M 1.01%
27,408
-6,855
-20% -$1.57M
JPM icon
18
JPMorgan Chase
JPM
$933B
$6.28M 1.01%
19,500
-4,360
-18% -$1.35M
EFA icon
19
iShares MSCI EAFE ETF
EFA
$78.5B
$6.14M 0.98%
63,912
-3,344
-5% -$317K
VTI icon
20
Vanguard Morningstar Total Stock Market ETF
VTI
$657B
$5.97M 0.96%
17,818
+3,079
+21% +$1.02M
AMLP icon
21
Alerian MLP ETF
AMLP
$12.9B
$5.89M 0.94%
125,324
-5,654
-4% -$265K
GOOG icon
22
Alphabet (Google) Class C
GOOG
$4.08T
$5.83M 0.93%
18,584
-9,916
-35% -$2.84M
IWF icon
23
iShares Russell 1000 Growth ETF
IWF
$120B
$5.69M 0.91%
48,064
-11,016
-19% -$1.3M
IVE icon
24
iShares S&P 500 Value ETF
IVE
$49.1B
$5.68M 0.91%
26,794
– –
AMJB icon
25
Alerian MLP Index ETNs due January 28 2044
AMJB
$868M
$4.29M 0.69%
143,292
-51,686
-27% -$1.54M
1
2 3 4 5

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FNF
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SCM
Shaolin Capital Management Miami, Florida $2.71B AUM 64.83% 1-Year Est. Return
NCM
Nantahala Capital Management New Canaan, Connecticut $2.72B AUM 121.58% 1-Year Est. Return
TAM
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CA
Cornerstone Advisors Asheville, North Carolina $2.72B AUM 22.17% 1-Year Est. Return
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.