Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Nicolet Bankshares Inc for the reporting period ending March 31, 2019. The document discloses the company's holdings of equity securities, including common stocks and exchange-traded funds (ETFs), as required by the Securities and Exchange Commission.
Key Financial Metrics and Portfolio Composition
The filing details the specific securities held by the company rather than the company's own operating financials (revenue, profit, or cash flow). Key portfolio metrics include:
- Total Holdings: The portfolio consists of over 100 distinct issuers, including large-cap equities, sector-specific ETFs, and bond ETFs.
- Largest Equity Position: The company holds a significant position in its own stock, Nicolet Bankshares Inc, with 775,053 shares valued at approximately $46.2 million (sole voting authority: 763,342 shares).
- Top External Equity Holdings: Significant positions include Wells Fargo & Co ($1.97M), Microsoft Corp ($3.51M), Apple Inc ($4.59M), and Pfizer Inc ($1.65M).
- ETF Exposure: The portfolio includes substantial allocations to ETFs such as Vanguard FTSE Developed Market ($9.6M), FlexShares Global Upstream Natural Resources ($12.2M), and FlexShares IBOXX 5-Year Target Duration ($3.66M).
- Voting Authority: The company reports "Sole" voting authority for the majority of its holdings, with "Shared" authority noted for specific positions like Abbott Labs and Alphabet Inc.
Material Changes Versus Prior Period
The filing text provided is a static snapshot of holdings as of March 31, 2019. It does not provide comparative data against the prior quarter (December 31, 2018) or year-over-year changes. Consequently, material changes in position size, new acquisitions, or divestitures cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing does not contain management commentary, financial guidance, outlook statements, or specific risk factors regarding the company's future operations. The document serves strictly as a regulatory disclosure of current asset ownership. The filing includes a standard disclaimer that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Self-Holding: Verify the strategic intent behind holding 775,053 shares of Nicolet Bankshares Inc stock, which represents the single largest asset in the disclosed portfolio.
- Concentration Risk: Assess the concentration of the portfolio in financial sector equities (e.g., Wells Fargo, JP Morgan, Bank of Montreal) and energy-related ETFs.
- Voting Rights: Note the distinction between total shares held and shares with "Sole" voting authority, particularly for positions like Abbott Labs and Alphabet Inc where shared authority exists.
- Missing Data: Confirm that this filing does not reflect the bank's core lending portfolio, deposit base, or net interest margin, which are critical for evaluating a bank's performance.