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 covers the portfolio holdings as of the reporting period ending June 30, 2021. As a Form 13F, this document discloses the equity securities held by the institution but does not contain the company's own financial performance metrics (revenue, profit, cash flow) or operational commentary.
Key Financial Metrics and Portfolio Composition
The filing details the specific equity securities and investment contracts held by Nicolet Bankshares Inc. Key portfolio characteristics include:
- Top Equity Holdings by Value: The largest single equity position is Apple Inc. with a reported value of $10,823,000 (79,026 shares). Other significant holdings include Microsoft Corp. ($8,243,000), Alphabet Inc. (Class A and C combined ~$6,755,000), and Amazon.com Inc. ($4,541,000).
- Significant ETF and Fund Positions: The portfolio holds substantial positions in exchange-traded funds (ETFs), including SPDR Portfolio S&P 500 Value ETF ($33,763,000), Vanguard Developed Markets Index Fund ($15,319,000), and SPDR Portfolio S&P 500 Growth ETF ($23,085,000).
- Self-Holding: The institution holds 830,352 shares of its own stock (Nicolet Bankshares Inc.) valued at $58,407,000. This position is reported with "Other" voting authority, indicating it is likely held in a treasury or restricted capacity rather than for active trading.
- Voting Authority: The vast majority of holdings are reported with Sole voting authority. A small number of positions (e.g., AbbVie, Apple, Berkshire Hathaway) include "Shared" or "None" voting authority, often associated with derivative positions or specific fund structures.
Material Changes and Portfolio Activity
This filing represents a snapshot of holdings at a specific point in time. It does not provide comparative data against the prior quarter (March 31, 2021) within the text provided. Therefore, specific material changes in position size or new entries cannot be calculated from this document alone. However, the presence of "OTR" (Other) voting authority on certain positions (e.g., Microsoft Corp., Evergy Inc., FlexShares funds) indicates the existence of derivative contracts or options that may differ from the standard "Sole" voting equity positions.
Guidance, Outlook, and Risks
Management Commentary: This document contains no management commentary, forward-looking guidance, or strategic outlook. It is a regulatory disclosure of asset ownership.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy. The portfolio is heavily weighted toward large-cap U.S. equities and broad market index funds, implying exposure to general market volatility. The significant self-holding suggests a potential conflict of interest or a specific capital management strategy that investors should monitor.
Important Facts for Investor Verification
- Self-Holding Magnitude: Verify the rationale for holding $58.4 million of its own stock, which represents a significant portion of the reported portfolio value.
- Concentration Risk: Confirm the total portfolio value to assess the concentration risk in top holdings like Apple, Microsoft, and the SPDR S&P 500 Value ETF.
- Derivative Exposure: Investigate the "OTR" (Other) voting authority positions to understand the extent of options or derivative contracts held, which may introduce leverage or hedging strategies not immediately apparent from the share counts.
- Reporting Accuracy: Cross-reference the share counts and values with the company's 10-Q or 10-K filings for the same period to ensure consistency in reported assets.