SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: NICOLET BANKSHARES INC
Filing Type: Form 13F Information Table (Statement of Holdings)
Reporting Period: As of June 30, 2018
Context: This filing discloses the equity securities held by the company at the end of the second quarter of 2018. It does not contain operational financial statements (revenue, profit, cash flow) for the bank itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of common stocks and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Portfolio Value: The filing lists individual security values in thousands of dollars. The aggregate value is not explicitly summed in the text, but the portfolio includes significant holdings in large-cap equities and broad market ETFs.
- Largest Equity Holdings (by Value):
- Wells Fargo & Co: $2,364,000
- Microsoft Corp: $2,768,000
- Apple Inc: $4,726,000
- ExxonMobil Corp: $2,533,000
- Johnson & Johnson: $1,374,000
- Significant ETF Holdings:
- Vanguard FTSE Developed Market ETF: $9,348,000
- FlexShares Global Upstream Natural Resources ETF: $14,407,000
- FlexShares IBOXX 5-Year Target Duration Bond ETF: $5,971,000
- FlexShares IBOXX 3-Year Target Duration Bond ETF: $2,724,000
- Self-Holding: The company holds 696,459 shares of its own common stock (Nicolet Bankshares Inc) valued at $38,382,000, plus an additional 13,141 shares valued at $724,000.
Material Changes and Voting Authority
Voting Authority: The filing distinguishes between sole, shared, and none voting authority.
- Sole Discretion: The majority of holdings are reported with "Sole" voting authority (e.g., Apple, Microsoft, Wells Fargo).
- Shared Authority: Several positions have shared voting authority, including Alphabet Inc (Class A and C), AbbVie Inc, and various ETFs.
- None: Some positions, such as certain ETFs and specific stock classes, are listed with "None" voting authority.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no management commentary, forward-looking guidance, or outlook statements. It is a statutory disclosure of holdings only.
Risks and Contingencies: No specific risks or contingencies are disclosed in this document. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy or completeness.
Unusual Items: The portfolio includes a significant allocation to sector-specific ETFs (e.g., Global Upstream Natural Resources) and bond ETFs, suggesting a strategy that extends beyond pure equity growth.
Investor Verification Checklist
- Verify the total aggregate value of the portfolio by summing the "Value" column, as the total is not explicitly stated.
- Confirm the classification of the 13,141 shares of Nicolet Bankshares Inc held with "Other" (OTR) voting authority versus the 696,459 shares held with "Sole" authority.
- Review the concentration risk in the FlexShares Global Upstream Natural Resources ETF ($14.4M), which represents a significant portion of the disclosed assets.
- Check subsequent filings (e.g., Q3 2018) to determine if these holdings were maintained or liquidated.
- Validate that the "Value" figures are in thousands of dollars as indicated by the column header "(x$1000)".