Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Nicolet Bankshares Inc to the U.S. Securities and Exchange Commission. The report details the company's holdings in equity securities as of the reporting period ending September 30, 2023. As a Form 13F, this document discloses investment positions rather than the company's own operating financial results.
Key Financial Metrics and Portfolio Composition
The filing lists specific holdings, share counts, and values (in thousands of dollars) for a diversified portfolio of equities and exchange-traded funds (ETFs). Key portfolio characteristics include:
- Top Equity Holdings by Value: Significant positions in large-cap technology and consumer staples, including Apple Inc. ($12,750,009), Microsoft Corp. ($10,007,065), Amazon.com Inc. ($4,267,291), and Alphabet Inc. (Class A and C combined).
- ETF Exposure: The portfolio holds substantial positions in passive index funds, including SPDR Portfolio S&P 500 Value ETF ($46,224,857), SPDR Portfolio S&P 500 Growth ETF ($25,756,034), and JPM Alerian MLP Index ETN ($8,247,824).
- Self-Holding: The company holds 922,228 shares of its own stock (Nicolet Bankshares Inc) valued at $64,353 (in thousands).
- Voting Authority: The filing distinguishes between "Sole," "Shared," and "None" voting authority. The majority of holdings are listed under "Sole" discretion, though significant "Shared" authority exists for positions in Alphabet, Amazon, Apple, and various ETFs.
Material Changes Versus Prior Period
The filing text does not provide a clear value for material changes compared to the prior comparable period. Form 13F tables typically list current holdings without explicitly stating the net change in shares or value from the previous quarter within the data rows provided.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for management guidance, future outlook, or specific risk factors. This document is a statutory disclosure of current asset holdings and does not contain narrative commentary, earnings forecasts, or contingency plans. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the total aggregate value of the portfolio to understand the scale of Nicolet Bankshares' investment activities relative to its balance sheet.
- Self-Holding Context: Confirm the purpose of the 922,228 shares of Nicolet Bankshares stock held in this account (e.g., treasury stock, employee benefit plan, or proprietary trading).
- ETF Strategy: Note the heavy weighting toward S&P 500 Value and Growth ETFs, indicating a significant passive investment strategy alongside active stock picking.
- Voting Rights: Review the "Shared" voting authority columns to understand if third-party managers influence the voting decisions on major holdings like Apple and Microsoft.