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 March 31, 2021. As a Form 13F, this document discloses investment positions rather than the company's own operational financial performance.
Key Financial Metrics and Portfolio Composition
The filing lists numerous equity positions, including common stocks and exchange-traded funds (ETFs). Key portfolio characteristics include:
- Top Equity Holdings by Value: The largest single position by value is NICOLET BANKSHARES INC (own stock) at approximately $69,053,000 (842,016 shares). Other significant holdings include SPDR PORTFOLIO S&P 500 VALUE ETF ($31,499,000), SPDR PORTFOLIO S&P 500 GROWTH ETF ($20,236,000), and APPLE INC ($9,560,000).
- Top Equity Holdings by Share Count: The largest position by share volume is SPDR PORTFOLIO S&P 500 VALUE ETF with 831,126 shares, followed by NICOLET BANKSHARES INC with 842,016 shares.
- Asset Classes: The portfolio is diversified across individual equities (e.g., Microsoft, Amazon, JPMorgan Chase) and a broad array of ETFs covering U.S. large-cap, mid-cap, international, emerging markets, and fixed income sectors.
- Voting Authority: The company reports "SOLE" voting authority for the majority of positions. Some positions, such as NICOLET BANKSHARES INC and various ETFs, are listed with "OTR" (Other) voting authority, indicating shared or none.
Note: This filing does not provide data on the company's revenue, profit, cash flow, debt, or liquidity. It strictly reports external investment holdings.
Material Changes and Portfolio Activity
The filing provides a snapshot of holdings as of March 31, 2021. It does not explicitly state the changes in value or share count compared to the prior quarter (December 31, 2020) within the text provided. However, the presence of specific share counts and values allows for external comparison if prior filings are available. The portfolio includes a mix of long-term holdings and diversified index funds.
Guidance, Outlook, and Risks
Management Commentary: Form 13F filings do not contain management commentary, forward-looking guidance, or strategic outlooks regarding the company's own operations.
Risks and Contingencies: The filing includes a standard disclaimer stating that the SEC has not reviewed the information for accuracy or completeness. The primary risk disclosed implicitly is the market risk associated with the listed equity and ETF holdings.
Unusual Items: The filing lists a significant holding of the company's own stock (NICOLET BANKSHARES INC) under "OTR" voting authority, which is a common practice for treasury stock or specific corporate holdings but warrants verification of the specific nature of these shares.
Important Facts for Investor Verification
- Reporting Entity: Verify that the holdings belong to NICOLET BANKSHARES INC and not a subsidiary or affiliate, as Form 13F is filed by the investment manager.
- Own Stock Position: Confirm the nature of the 842,016 shares of NICOLET BANKSHARES INC held, as this represents a significant portion of the reported value ($69M) and is listed with "OTR" voting authority.
- ETF Concentration: Note the heavy reliance on broad market ETFs (e.g., SPDR S&P 500 Value/Growth, Vanguard Total Bond Market), which suggests a passive investment strategy for a large portion of the portfolio.
- Data Limitations: Acknowledge that this document does not reflect the bank's core financial health (loans, deposits, net interest margin) and should be cross-referenced with the company's 10-Q or 10-K filings for operational metrics.