SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: NICOLET BANKSHARES INC
Filing Type: Form 13F Information Table
Reporting Period: December 31, 2017
Context: This filing discloses the equity securities held by the company at the end of the reporting period. As a Form 13F, it does not contain the company's own financial performance metrics (revenue, profit, cash flow) but rather details its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing lists holdings in individual equities and exchange-traded funds (ETFs). Values are reported in thousands of dollars.
- Top Individual Equity Holdings (by Value):
- General Electric Corp: $45,691
- Wells Fargo & Co: $46,142
- Intel Corp: $35,041
- Pfizer Inc: $37,714
- ExxonMobil Corp: $30,219
- Coca-Cola Co: $30,311
- Apple Inc: $25,975
- Abbott Labs: $26,510
- Significant ETF Holdings:
- FlexShares Global Upstream Natural Resources: $446,563
- Vanguard FTSE Developed Market: $215,718
- FlexShares IBOXX 5-Year Target Duration: $222,389
- Vanguard FTSE Emerging Markets: $143,262
- FlexShares IBOXX 3-Year Target Duration: $144,277
- Own Stock Holdings: The company holds 706,104 shares of its own common stock (NICOLET BANKSHARES INC) valued at $38,652, plus an additional 13,141 shares with other voting authority.
Material Changes and Voting Authority
The filing does not provide comparative data against the prior quarter (September 30, 2017) to determine material changes in holdings. However, the table discloses voting authority breakdowns:
- Sole Discretion: The majority of holdings are reported with sole voting authority.
- Shared/None: Several positions include shared voting authority or none, such as Alphabet Inc (Class C), Berkshire Hathaway Inc (Class B), and various ETFs where voting authority is often shared or none.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not include management discussion, guidance, or outlook.
Risks and Contingencies: The filing includes a standard disclaimer stating the SEC has not reviewed the information for accuracy. No specific risk factors or contingencies are detailed in this document.
Key Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk associated with the large position in FlexShares Global Upstream Natural Resources ($446.6M) and FlexShares IBOXX 5-Year Target Duration ($222.4M).
- Top 10 Holdings: Confirm the current market value of the top 10 individual stock positions, which include significant exposure to financials (Wells Fargo), technology (Intel, Apple), and healthcare (Pfizer, Abbott Labs).
- Own Stock Position: Note the substantial holding of the company's own stock (approx. 719,000 shares total), which may indicate treasury stock management or employee benefit plan holdings.
- ETF Exposure: Assess the diversification provided by the heavy allocation to broad market ETFs (Vanguard, iShares, SPDR) versus the specific sector bets (Energy, Bonds).