NICOLET ADVISORY SERVICES, LLC

Filed: 11/13/2025ACC: 0001775863-25-000013

📋 What this filing means

NICOLET ADVISORY SERVICES, LLC filed this quarterly 13F‑HR report disclosing 415 equity positions with a total reported market value of $1.29B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

415

Positions

$1.29B

Total AUM (reported)

14.66M

Total Shares

Allocation by class

COM$390.67M30.4%

PRTFLO S&P500 VL$176.63M13.7%

PRTFLO S&P500 GW$161.15M12.5%

CORE S&P TTL STK$39.43M3.1%

AVANTIS EMGMKT$37.06M2.9%

VAN FTSE DEV MKT$34.19M2.7%

CL B NEW$29.16M2.3%

Portfolio Concentration

Top 3$386.63M30.1%

4–10$221.84M17.3%

11–25$245.69M19.1%

Rest$431.19M33.5%

Top 3 weight

30.1%

Top 10 weight

47.3%

Voting Authority Distribution

Total shares with voting rights: 14.66M

Sole

Full voting authority

6.91K

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

14.65M

% of voting shares100.0%

Investment Discretion (by position count)

Sole415

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings415

Rows:

SPDR SERIES TRUST

SOLE

PRTFLO S&P500 VL

Shares3.17M

TypeSH

Market value$176.63M

13.74%

Sole

2.75K

Shared

0.00

None

3.17M

SPDR SERIES TRUST

SOLE

PRTFLO S&P500 GW

Shares1.54M

TypeSH

Market value$161.15M

12.54%

Sole

1.45K

Shared

0.00

None

1.54M

APPLE INC

SOLE

COM

Shares190.45K

TypeSH

Market value$48.85M

3.80%

Sole

0.00

Shared

0.00

None

190.45K

ISHARES TR

SOLE

CORE S&P TTL STK

Shares269.50K

TypeSH

Market value$39.43M

3.07%

Sole

0.00

Shared

0.00

None

269.50K

AMERICAN CENTY ETF TR

SOLE

AVANTIS EMGMKT

Shares488.61K

TypeSH

Market value$37.06M

2.88%

Sole

1.25K

Shared

0.00

None

487.36K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares563.67K

TypeSH

Market value$34.19M

2.66%

Sole

0.00

Shared

0.00

None

563.67K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares58.05K

TypeSH

Market value$29.16M

2.27%

Sole

0.00

Shared

0.00

None

58.05K

VANGUARD MUN BD FDS

SOLE

TAX EXEMPT BD

Shares561.35K

TypeSH

Market value$28.11M

2.19%

Sole

0.00

Shared

0.00

None

561.35K

VANGUARD INDEX FDS

SOLE

MID CAP ETF

Shares92.96K

TypeSH

Market value$27.30M

2.12%

Sole

0.00

Shared

0.00

None

92.96K

MICROSOFT CORP

SOLE

COM

Shares50.76K

TypeSH

Market value$26.60M

2.07%

Sole

0.00

Shared

0.00

None

50.76K

FIDELITY MERRIMACK STR TR

SOLE

TOTAL BD ETF

Shares559.64K

TypeSH

Market value$25.92M

2.02%

Sole

0.00

Shared

0.00

None

559.64K

AMERICAN CENTY ETF TR

SOLE

REAL ESTATE ETF

Shares478.63K

TypeSH

Market value$21.10M

1.64%

Sole

903.00

Shared

0.00

None

477.72K

JPMORGAN CHASE & CO.

SOLE

COM

Shares66.30K

TypeSH

Market value$20.40M

1.59%

Sole

0.00

Shared

0.00

None

66.30K

PROCTER AND GAMBLE CO

SOLE

COM

Shares128.09K

TypeSH

Market value$19.54M

1.52%

Sole

0.00

Shared

0.00

None

128.09K

VANGUARD BD INDEX FDS

SOLE

TOTAL BND MRKT

Shares253.61K

TypeSH

Market value$18.84M

1.47%

Sole

0.00

Shared

0.00

None

253.61K

NVIDIA CORPORATION

SOLE

COM

Shares97.86K

TypeSH

Market value$18.11M

1.41%

Sole

0.00

Shared

0.00

None

97.86K

VICTORY PORTFOLIOS II

SOLE

CORE INTERMEDIAT

Shares354.73K

TypeSH

Market value$16.87M

1.31%

Sole

0.00

Shared

0.00

None

354.73K

VANGUARD INDEX FDS

SOLE

S&P 500 ETF SHS

Shares27.25K

TypeSH

Market value$16.77M

1.30%

Sole

569.00

Shared

0.00

None

26.68K

WEC ENERGY GROUP INC

SOLE

COM

Shares134.52K

TypeSH

Market value$15.50M

1.21%

Sole

0.00

Shared

0.00

None

134.52K

JPMORGAN CHASE FINL CO LLC

SOLE

CAL LKD 44

Shares492.46K

TypeSH

Market value$14.29M

1.11%

Sole

0.00

Shared

0.00

None

492.46K

AMAZON COM INC

SOLE

COM

Shares54.54K

TypeSH

Market value$12.10M

0.94%

Sole

0.00

Shared

0.00

None

54.54K

VANGUARD SCOTTSDALE FDS

SOLE

SHORT TERM TREAS

Shares205.90K

TypeSH

Market value$12.09M

0.94%

Sole

0.00

Shared

0.00

None

205.90K

ISHARES TR

SOLE

CORE S&P500 ETF

Shares17.86K

TypeSH

Market value$12.01M

0.93%

Sole

0.00

Shared

0.00

None

17.86K

ALPHABET INC

SOLE

CAP STK CL A

Shares47.67K

TypeSH

Market value$11.72M

0.91%

Sole

0.00

Shared

0.00

None

47.67K

VANGUARD INDEX FDS

SOLE

VALUE ETF

Shares55.85K

TypeSH

Market value$10.45M

0.81%

Sole

0.00

Shared

0.00

None

55.85K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
SPDR SERIES TRUSTSOLE	PRTFLO S&P500 VL	3.17M	SH	$176.63M 13.74%	2.75K	3.17M
SPDR SERIES TRUSTSOLE	PRTFLO S&P500 GW	1.54M	SH	$161.15M 12.54%	1.45K	1.54M
APPLE INCSOLE	COM	190.45K	SH	$48.85M 3.80%	0.00	190.45K
ISHARES TRSOLE	CORE S&P TTL STK	269.50K	SH	$39.43M 3.07%	0.00	269.50K
AMERICAN CENTY ETF TRSOLE	AVANTIS EMGMKT	488.61K	SH	$37.06M 2.88%	1.25K	487.36K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	563.67K	SH	$34.19M 2.66%	0.00	563.67K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	58.05K	SH	$29.16M 2.27%	0.00	58.05K
VANGUARD MUN BD FDSSOLE	TAX EXEMPT BD	561.35K	SH	$28.11M 2.19%	0.00	561.35K
VANGUARD INDEX FDSSOLE	MID CAP ETF	92.96K	SH	$27.30M 2.12%	0.00	92.96K
MICROSOFT CORPSOLE	COM	50.76K	SH	$26.60M 2.07%	0.00	50.76K
FIDELITY MERRIMACK STR TRSOLE	TOTAL BD ETF	559.64K	SH	$25.92M 2.02%	0.00	559.64K
AMERICAN CENTY ETF TRSOLE	REAL ESTATE ETF	478.63K	SH	$21.10M 1.64%	903.00	477.72K
JPMORGAN CHASE & CO.SOLE	COM	66.30K	SH	$20.40M 1.59%	0.00	66.30K
PROCTER AND GAMBLE COSOLE	COM	128.09K	SH	$19.54M 1.52%	0.00	128.09K
VANGUARD BD INDEX FDSSOLE	TOTAL BND MRKT	253.61K	SH	$18.84M 1.47%	0.00	253.61K
NVIDIA CORPORATIONSOLE	COM	97.86K	SH	$18.11M 1.41%	0.00	97.86K
VICTORY PORTFOLIOS IISOLE	CORE INTERMEDIAT	354.73K	SH	$16.87M 1.31%	0.00	354.73K
VANGUARD INDEX FDSSOLE	S&P 500 ETF SHS	27.25K	SH	$16.77M 1.30%	569.00	26.68K
WEC ENERGY GROUP INCSOLE	COM	134.52K	SH	$15.50M 1.21%	0.00	134.52K
JPMORGAN CHASE FINL CO LLCSOLE	CAL LKD 44	492.46K	SH	$14.29M 1.11%	0.00	492.46K
AMAZON COM INCSOLE	COM	54.54K	SH	$12.10M 0.94%	0.00	54.54K
VANGUARD SCOTTSDALE FDSSOLE	SHORT TERM TREAS	205.90K	SH	$12.09M 0.94%	0.00	205.90K
ISHARES TRSOLE	CORE S&P500 ETF	17.86K	SH	$12.01M 0.93%	0.00	17.86K
ALPHABET INCSOLE	CAP STK CL A	47.67K	SH	$11.72M 0.91%	0.00	47.67K
VANGUARD INDEX FDSSOLE	VALUE ETF	55.85K	SH	$10.45M 0.81%	0.00	55.85K

Page 1 of 17

…