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 September 30, 2019. 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 and fund positions held by Nicolet Bankshares Inc. Key portfolio characteristics include:
- Significant Self-Holding: The institution holds a substantial position in its own stock (Nicolet Bankshares Inc), totaling approximately 866,420 shares across two entries (853,279 shares with sole voting authority and 13,141 shares with other voting authority).
- Top Equity Holdings: Major individual stock positions include Johnson & Johnson (30,748 shares), Intel Corp (30,748 shares), Microsoft Corp (29,584 shares), and Wells Fargo & Co (28,726 shares).
- ETF and Fund Exposure: The portfolio includes significant allocations to Exchange Traded Funds (ETFs), particularly in the Vanguard and iShares families. Notable holdings include Vanguard FTSE Developed Market (220,619 shares), FlexShares Global Upstream Natural Gas (176,571 shares), and SPDR Portfolio S&P 500 Value (117,410 shares).
- Voting Authority: The vast majority of holdings are reported with "Sole" voting authority, though some positions (e.g., Abbott Labs, Alphabet Inc) show "Shared" voting authority.
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 filings typically list current holdings without explicitly stating the net change (buy/sell) from the previous quarter within the text body of the table itself. Analysis of changes would require comparing this dataset against the previous quarter's filing.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, or contingencies. Form 13F is a regulatory disclosure of holdings and does not include forward-looking statements or management discussion and analysis (MD&A). The document includes a standard disclaimer that the SEC has not reviewed the information for accuracy.
Important Facts for Investor Verification
- Self-Holding Concentration: Verify the total value of the bank's own stock held in this portfolio relative to its total assets to understand insider confidence or capital management strategies.
- ETF Weighting: Assess the proportion of the portfolio allocated to passive index funds (Vanguard, iShares, SPDR) versus active individual stock picks to determine the investment strategy.
- Industry Exposure: Confirm the sector concentration, noting significant exposure to Technology (Microsoft, Intel, Apple), Healthcare (Johnson & Johnson, Pfizer), and Financials (Wells Fargo, JPMorgan).
- Reporting Accuracy: Note the standard SEC disclaimer that the information has not been reviewed for accuracy by the Commission.