SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: NICOLET BANKSHARES INC
Filing Type: Form 13F Information Table
Reporting Period: Quarter ended June 30, 2022
Context: This filing discloses the equity securities held by the company as of the end of the reporting period. It is a regulatory disclosure of investment holdings, not a financial performance report of the company's own operations.
Key Financial Metrics and Holdings
The filing details a diversified portfolio of common stocks and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Reported Value: The sum of the "Value" column (in thousands) across all listed securities represents the total market value of the reported holdings.
- Largest Single Holding: SPDR Portfolio S&P 500 Value ETF (Value: $1,070,782,000).
- Significant Equity Positions:
- Apple Inc.: $81,835,000
- Amazon.com Inc.: $34,327,000
- Microsoft Corp.: $34,317,000
- JPMorgan Chase & Co.: $26,930,000
- Alphabet Inc. (Class A & C): $3,020,000 combined
- Self-Holding: The company holds 930,011 shares of its own stock (NICOLET BANKSHARES INC) with a reported value of $67,277,000. Voting authority for this position is listed as "Other" (OTR).
- Investment Discretion: The vast majority of holdings are managed with "Sole" discretion. A small portion of holdings (e.g., certain ETFs and the company's own stock) are listed with "Other" discretion.
Material Changes and Portfolio Composition
Note: As this is a single-period snapshot, material changes versus a prior period cannot be calculated from this document alone. However, the composition reveals:
- Heavy ETF Exposure: A significant portion of the portfolio consists of broad market and sector-specific ETFs (e.g., SPDR, iShares, Vanguard, FlexShares), indicating a passive or index-tracking strategy for a large segment of assets.
- Derivatives: Several positions include Put/Call options (e.g., Apple, AT&T, Berkshire Hathaway, Cisco, Citigroup, Comcast, Eaton, Exxon Mobil, Pfizer, Qualcomm, Verizon, Walmart). These are listed in the "Put/Call" column with specific share amounts.
- Voting Authority: Most positions have "Sole" voting authority. Some positions have "Shared" or "None" voting authority, or are categorized as "Other" (OTR), particularly for the company's own stock and certain ETFs.
Guidance, Outlook, and Risks
Guidance and Outlook: This Form 13F filing does not contain management commentary, financial guidance, or future outlook for NICOLET BANKSHARES INC. It is a static report of holdings.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. The primary risk inherent in the portfolio, as disclosed, is market risk associated with the listed equities and ETFs. The presence of Put/Call options indicates the use of derivatives, which introduces additional complexity and potential risk.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the total value of the portfolio and the percentage allocated to the top 10 holdings (including the large SPDR Value ETF position) to assess concentration risk.
- Self-Holding Details: Confirm the purpose and voting rights associated with the 930,011 shares of NICOLET BANKSHARES INC held by the company itself (listed as "Other" discretion).
- Derivative Exposure: Review the specific Put/Call positions (e.g., Apple, Exxon Mobil, Pfizer) to understand the company's hedging or speculative strategies.
- Comparison to Prior Period: To assess material changes, compare this filing with the previous quarter's Form 13F to identify significant buys, sells, or changes in voting authority.
- Accuracy Disclaimer: Acknowledge the SEC's disclaimer that the information has not been independently verified by the Commission.