SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: NICOLET BANKSHARES INC
Filing Type: Form 13F Information Table (Quarterly Report of Holdings)
Reporting Period: Ended December 31, 2023
Context: This filing discloses the equity securities held by Nicoret Bankshares Inc. as of the end of the fourth quarter of 2023. It is a regulatory disclosure of investment holdings, not a report of the company's own operating financial performance.
Key Financial Metrics and Holdings
Total Portfolio Value: The filing lists individual security values but does not explicitly state a consolidated total portfolio value in the text provided. The aggregate value can be derived by summing the "VALUE" column for all listed securities.
Top Holdings by Value (Selected):
- SPDR Portfolio S&P 500 Value ETF: $51,676,438 (1,108,223 shares)
- SPDR Portfolio S&P 500 Growth ETF: $27,465,730 (422,160 shares)
- JPM Alerian MLP Index ETN: $8,251,764 (325,385 shares)
- Apple Inc.: $14,403,939 (74,814 shares)
- Microsoft Corp.: $12,130,674 (32,259 shares)
- Nicoret Bankshares Inc. (Own Stock): $73,195 (909,481 shares)
Asset Classes: The portfolio is heavily weighted toward Exchange Traded Funds (ETFs) tracking the S&P 500, Russell indices, and international markets, alongside significant positions in large-cap technology, healthcare, and financial services equities.
Material Changes and Voting Authority
Voting Authority: For the vast majority of holdings, Nicoret Bankshares Inc. exercises "SOLE" voting authority. A subset of holdings (e.g., Alphabet Inc. Class C, Amazon.com Inc., Microsoft Corp.) lists "SHARED" voting authority, indicating joint control with other parties for those specific positions.
Comparison to Prior Period: This filing is a snapshot of holdings as of December 31, 2023. The provided text does not contain comparative data from the prior quarter (September 30, 2023) to calculate material changes in position size or value.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings are factual disclosures of holdings and do not contain management commentary, forward-looking guidance, or strategic outlooks.
Risks and Contingencies: The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy. The primary risk inherent in this filing is the concentration of assets in passive index funds (ETFs), which exposes the portfolio to broad market volatility rather than idiosyncratic company risk.
Investor Verification Checklist
- Portfolio Concentration: Verify the total percentage of assets allocated to passive index ETFs versus active individual stock picks.
- Own Stock Position: Note the holding of 909,481 shares of Nicoret Bankshares Inc. stock valued at $73,195, representing a significant portion of the company's own equity held in this portfolio.
- Voting Rights: Review the specific holdings marked with "SHARED" voting authority to understand potential joint control arrangements.
- Valuation Accuracy: Confirm that the "VALUE" column reflects the market price at the close of December 31, 2023, as required by Form 13F regulations.