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 of equity securities as of the reporting period ending June 30, 2025. As a Form 13F, this document discloses investment positions held by institutional investment managers rather than the operating financial results of the bank itself.
Key Financial Metrics and Portfolio Composition
The filing provides a granular list of equity holdings, including common stocks and exchange-traded funds (ETFs). Key portfolio characteristics include:
- Top Holdings by Value: The portfolio is heavily weighted toward large-cap technology and broad market ETFs. Notable positions include Apple Inc. ($13,754,802), Microsoft Corp. ($14,907,378), Nvidia Corp. ($12,125,733), and Alphabet Inc. (Class A and C combined value approx. $8.8M).
- Significant ETF Exposure: The portfolio holds substantial positions in passive index funds, including SPDR Portfolio S&P 500 Value ETF ($57,871,605), SPDR Portfolio S&P 500 Growth ETF ($37,564,849), and Vanguard S&P 500 ETF ($23,692,531).
- Self-Holding: Nicolet Bankshares Inc holds 887,279 shares of its own common stock (CUSIP 65406E102) with a reported value of $109,561,211. Voting authority for this position is listed as "None," indicating these shares are likely held in a treasury or restricted capacity.
- Voting Authority: The vast majority of holdings are reported under "Sole" voting discretion, with some positions showing "Shared" or "None" authority.
Material Changes and Comparisons
The filing text does not provide a clear value for material changes versus the prior comparable period. Form 13F filings are point-in-time snapshots of holdings and do not inherently contain comparative financial data (e.g., quarter-over-quarter revenue or profit changes) or explicit commentary on portfolio shifts relative to the previous quarter within the text provided.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for management guidance, future outlook, or specific risk factors. This document is a regulatory disclosure of asset ownership and does not contain management commentary, earnings forecasts, or contingency plans. The standard SEC disclaimer notes that the Commission has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Portfolio Concentration: Verify the concentration risk in the top 10 holdings, which include significant exposure to the technology sector (Apple, Microsoft, Nvidia, Alphabet) and broad market ETFs.
- Self-Holding Status: Confirm the nature of the $109.5M holding in Nicolet Bankshares Inc. stock, specifically why voting authority is listed as "None" despite the significant share count.
- Asset Class Mix: Note the heavy reliance on ETFs (e.g., SPDR, Vanguard, iShares) which suggests a passive or index-tracking strategy for a large portion of the reported assets.
- Reporting Date: Ensure the data reflects the specific snapshot as of June 30, 2025, and does not represent current market values if the current date is significantly later.