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 reporting period ending March 31, 2025. As a Form 13F, this document discloses the equity securities held by the company as an institutional investment manager, rather than reporting the company's own operational financial performance.
Key Financial Metrics and Portfolio Composition
The filing details a diversified portfolio of equity securities and exchange-traded funds (ETFs). Key metrics derived from the table include:
- Total Holdings: The portfolio consists of over 100 distinct issuers, including individual common stocks and various ETFs.
- Top Holdings by Value: Significant positions are held in large-cap technology and financial firms, including Apple Inc. ($14,383,362), Alphabet Inc. (Class A and C combined ~$7.7M), Amazon.com Inc. ($6,165,185), and Microsoft Corp. ($10,900,575).
- Self-Holding: The company holds a substantial position in its own stock, Nicolet Bankshares Inc., valued at $96,792,982 (888,335 shares).
- ETF Exposure: The portfolio includes significant allocations to broad market and sector ETFs, such as the SPDR Portfolio S&P 500 Value ETF ($55,320,301) and SPDR Portfolio S&P 500 Growth ETF ($30,184,400).
- Voting Authority: The company reports "Sole" voting authority for the majority of its holdings, with some "Shared" authority noted for specific positions like Apple Inc. and Alphabet Inc.
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 tables typically list current holdings without explicitly stating the net change in shares or value from the previous quarter within the text body provided. Analysis of changes would require comparing this data against the previous quarter's filing.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for management guidance, future outlook, or specific risk factors. Form 13F is a regulatory disclosure of holdings and does not contain narrative commentary, earnings guidance, or contingency plans. The standard disclaimer notes that the SEC has not reviewed the information for accuracy or completeness.
Important Facts for Investor Verification
- Concentration Risk: Verify the impact of the large self-holding ($96.8M in Nicolet Bankshares stock) on the company's overall asset allocation and liquidity.
- Portfolio Turnover: Compare the current list of holdings against the previous quarter's Form 13F to identify significant buys or sells, particularly in the top 10 positions.
- ETF Weighting: Assess the proportion of the portfolio held in passive ETFs versus active individual stock picks to understand the investment strategy.
- Voting Rights: Note the instances of "Shared" voting authority, which may indicate the use of third-party custodians or specific account structures for certain large positions.