SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: NICOLET BANKSHARES INC
Filing Type: Form 13F Information Table (Schedule of Holdings)
Reporting Period: The filing text does not explicitly state the quarter end date in the header, though the metadata suggests a period ending June 30, 2026. The table lists holdings as of the reporting date.
Key Financial Metrics and Portfolio Composition
This filing discloses the equity securities held by the reporting manager. It does not contain the company's own revenue, profit, or cash flow statements. Key portfolio metrics derived from the table include:
- Total Portfolio Value: The filing lists numerous positions with values ranging from approximately $108,000 to over $361 million for a single ETF position.
- Top Holdings by Value:
- SPDR S&P 500 ETF Trust (State Street): $361,448,848
- SPDR S&P 500 Value ETF (State Street): $76,008,117
- SPDR S&P 500 Growth ETF (State Street): $68,112,463
- Apple Inc. (Common Stock): $63,357,273
- Microsoft Corp (Common Stock): $20,115,821
- Asset Class Mix: The portfolio is heavily weighted toward Exchange Traded Funds (ETFs), particularly broad market indices (S&P 500, Total Stock Market) and sector-specific funds (Technology, Financials, Utilities). Direct equity holdings include major technology firms (Apple, Microsoft, NVIDIA, Alphabet), financial institutions (JPMorgan Chase, Bank of America), and consumer staples.
- Voting Authority: The reporting manager holds "Sole" voting authority for the vast majority of listed positions.
Material Changes and Portfolio Activity
Note: Form 13F filings are snapshots of holdings at a specific point in time. This document does not provide a comparative table against the prior quarter to calculate material changes in share counts or values. However, the presence of "Other" (OTR) voting authority on certain positions (e.g., Exxon Mobil, JPMorgan Chase, Apple) indicates some shares may be held in a different capacity or account structure compared to the "Sole" authority positions.
Guidance, Outlook, and Risks
Management Commentary: Not applicable. Form 13F is a regulatory disclosure of holdings and does not contain management commentary, forward-looking guidance, or strategic outlook.
Risks and Contingencies:
- Concentration Risk: Significant exposure to large-cap U.S. equities via S&P 500 ETFs and direct holdings in the "Magnificent Seven" tech stocks.
- Market Risk: The portfolio is highly correlated with the broader U.S. equity market performance.
- Derivatives: The filing lists a small number of Call options (e.g., Netflix, Nike, NVIDIA), indicating limited use of derivatives for leverage or hedging.
Investor Verification Checklist
- Verify the exact reporting period end date in the official SEC filing header, as the text provided lacks a specific date stamp.
- Confirm the total aggregate value of the portfolio by summing the "Value" column, as the filing lists individual positions but does not provide a total portfolio summary line.
- Review the "Other" (OTR) voting authority entries to understand the nature of those specific holdings (e.g., whether they are held for clients or in a different account type).
- Compare the top 10 holdings against the previous quarter's 13F filing to identify significant rebalancing or new strategic positions.
- Assess the liquidity of the portfolio given the heavy weighting in highly liquid ETFs and large-cap stocks.