Business Context and Reporting Period
This filing is a Form 13F Information Table submitted by Nicolet Bankshares Inc for the reporting period ending December 31, 2018. The document discloses the company's holdings in equity securities and exchange-traded funds (ETFs) as required by the Securities and Exchange Commission. It does not contain operational financial statements (revenue, profit, or cash flow) for Nicolet Bankshares itself, but rather a snapshot of its investment portfolio.
Key Financial Metrics and Portfolio Composition
The filing details the value, share count, and voting authority of the reported securities. Key portfolio metrics include:
- Top Equity Holding: Nicolet Bankshares Inc (Common Stock) with a reported value of $37,667,000 (771,855 shares).
- Significant ETF Holdings:
- Vanguard FTSE Developed Market ETF: $8,666,000 (233,579 shares).
- FlexShares Global Upstream Natural Resources ETF: $10,727,000 (366,351 shares).
- FlexShares IBOXX 5-Year Target Duration Bond ETF: $4,179,000 (173,257 shares).
- Vanguard FTSE Emerging Markets ETF: $4,458,000 (117,013 shares).
- Notable Individual Stock Holdings:
- Wells Fargo & Co: $1,909,000 (41,424 shares).
- Microsoft Corp: $2,860,000 (28,158 shares).
- Apple Inc: $3,791,000 (24,035 shares).
- ExxonMobil Corp: $1,663,000 (24,390 shares).
- Voting Authority: The filing distinguishes between sole, shared, and none voting authority. For the majority of holdings, Nicolet Bankshares Inc holds sole voting authority. Some positions, such as AbbVie Inc and Alphabet Inc, show shared voting authority.
Material Changes Versus Prior Period
The filing text provided does not contain comparative data from the prior quarter (September 30, 2018). Therefore, material changes in holdings, increases or decreases in specific positions, and net purchases or sales cannot be determined from this document alone.
Guidance, Outlook, and Risks
This Form 13F filing does not provide management commentary, forward-looking guidance, or specific risk factors related to Nicolet Bankshares' operations. The document includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy or completeness. The portfolio composition suggests exposure to broad market indices, specific sectors (energy, healthcare, technology), and fixed income instruments via ETFs.
Important Facts for Investor Verification
- Self-Holding: Verify the significance of the $37.7 million holding in Nicolet Bankshares Inc common stock relative to the company's total assets and capital structure.
- Concentration Risk: Assess the concentration in specific ETFs, particularly the FlexShares Global Upstream Natural Resources ETF ($10.7M) and Vanguard FTSE Developed Market ETF ($8.7M).
- Voting Rights: Note the instances of shared voting authority (e.g., Alphabet Inc, Apple Inc, Microsoft Corp) which may indicate co-investment or specific fund structures.
- Missing Data: Confirm that this filing is a snapshot of holdings only and does not reflect the company's overall liquidity, debt levels, or operating performance for the year ended December 31, 2018.