NICOLET BANKSHARES INC

Filed: 8/13/2025ACC: 0001174850-25-000038

📋 What this filing means

NICOLET BANKSHARES INC filed this quarterly 13F‑HR report disclosing 207 equity positions with a total reported market value of $578.75M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

207

Positions

$578.75M

Total AUM (reported)

5.41M

Total Shares

Allocation by class

COMMON STOCK$305.80M52.8%

OTHER$272.94M47.2%

Portfolio Concentration

Top 3$205.03M35.4%

4–10$105.22M18.2%

11–25$94.46M16.3%

Rest$174.03M30.1%

Top 3 weight

35.4%

Top 10 weight

53.6%

Voting Authority Distribution

Total shares with voting rights: 5.41M

Sole

Full voting authority

4.21M

% of voting shares77.9%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

1.20M

% of voting shares22.1%

Investment Discretion (by position count)

Sole203

Shared0

Other4

Dominant voting typeSole · 77.9% of voting shares

Institutional Holdings207

Rows:

NICOLET BANKSHARES INC

SOLE

COMMON STOCK

Shares887.28K

TypeSH

Market value$109.56M

18.93%

Sole

0.00

Shared

0.00

None

887.28K

SPDR PORTFOLIO S&P 500 VALUE ETF

SOLE

OTHER

Shares1.11M

TypeSH

Market value$57.90M

10.00%

Sole

1.10M

Shared

0.00

None

1.97K

SPDR PORTFOLIO S&P 500 GROWTH ETF

SOLE

OTHER

Shares394.09K

TypeSH

Market value$37.56M

6.49%

Sole

392.66K

Shared

0.00

None

1.43K

VANGUARD S&P 500 ETF

SOLE

OTHER

Shares41.71K

TypeSH

Market value$23.69M

4.09%

Sole

41.71K

Shared

0.00

None

0.00

MICROSOFT CORP

SOLE

COMMON STOCK

Shares29.97K

TypeSH

Market value$14.91M

2.58%

Sole

23.48K

Shared

0.00

None

6.49K

SPDR S&P 500 ETF TRUST

OTR

OTHER

Shares22.61K

TypeSH

Market value$13.97M

2.41%

Sole

22.36K

Shared

0.00

None

251.00

APPLE INC

SOLE

COMMON STOCK

Shares67.04K

TypeSH

Market value$13.75M

2.38%

Sole

57.30K

Shared

0.00

None

9.74K

ISHARES S&P 500 BARRA GROWTH INDEX FUND

SOLE

OTHER

Shares121.68K

TypeSH

Market value$13.40M

2.31%

Sole

121.68K

Shared

0.00

None

0.00

AVANTIS EMERGING MARKETS EQUITY ETF

SOLE

OTHER

Shares195.11K

TypeSH

Market value$13.37M

2.31%

Sole

178.91K

Shared

0.00

None

16.20K

NVIDIA CORP

SOLE

COMMON STOCK

Shares76.75K

TypeSH

Market value$12.13M

2.10%

Sole

57.10K

Shared

0.00

None

19.65K

ISHARES CORE S&P 500 ETF

SOLE

OTHER

Shares15.39K

TypeSH

Market value$9.56M

1.65%

Sole

14.54K

Shared

0.00

None

855.00

VANGUARD FTSE DEVELOPED MARKETS

SOLE

OTHER

Shares146.38K

TypeSH

Market value$8.35M

1.44%

Sole

120.88K

Shared

0.00

None

25.50K

AMAZON.COM INC

SOLE

COMMON STOCK

Shares33.73K

TypeSH

Market value$7.40M

1.28%

Sole

23.67K

Shared

0.00

None

10.06K

JPMORGAN CHASE & CO

SOLE

COMMON STOCK

Shares23.57K

TypeSH

Market value$6.83M

1.18%

Sole

18.60K

Shared

0.00

None

4.96K

ALPS ETF TR ALERIAN MLP ETF NEW

OTR

OTHER

Shares138.09K

TypeSH

Market value$6.75M

1.17%

Sole

138.09K

Shared

0.00

None

0.00

ISHARES RUSSELL 1000 GROWTH INDEX FD

SOLE

OTHER

Shares15.72K

TypeSH

Market value$6.67M

1.15%

Sole

15.72K

Shared

0.00

None

0.00

AVANTIS INVESTORS

OTR

OTHER

Shares147.26K

TypeSH

Market value$6.50M

1.12%

Sole

147.07K

Shared

0.00

None

185.00

COSTCO WHOLESALE CORP

SOLE

COMMON STOCK

Shares6.36K

TypeSH

Market value$6.30M

1.09%

Sole

5.29K

Shared

0.00

None

1.07K

ISHARES S&P 500/VALUE

SOLE

OTHER

Shares32.14K

TypeSH

Market value$6.28M

1.09%

Sole

32.14K

Shared

0.00

None

0.00

ISHARES MSCI EAFE INDEX FD

SOLE

OTHER

Shares69.27K

TypeSH

Market value$6.19M

1.07%

Sole

69.27K

Shared

0.00

None

0.00

JPM ALERIAN MLP INDEX ETN 1/28/2044

SOLE

OTHER

Shares192.98K

TypeSH

Market value$5.84M

1.01%

Sole

192.52K

Shared

0.00

None

465.00

ALPHABET INC CAP STK CL C

SOLE

COMMON STOCK

Shares29.09K

TypeSH

Market value$5.16M

0.89%

Sole

19.48K

Shared

0.00

None

9.60K

META PLATFORMS INC CL A

SOLE

COMMON STOCK

Shares6.34K

TypeSH

Market value$4.68M

0.81%

Sole

4.42K

Shared

0.00

None

1.93K

VANGUARD TOTAL STOCK MARKET ETF

SOLE

OTHER

Shares13.87K

TypeSH

Market value$4.21M

0.73%

Sole

13.87K

Shared

0.00

None

0.00

MASTERCARD INC

SOLE

COMMON STOCK

Shares6.66K

TypeSH

Market value$3.74M

0.65%

Sole

4.86K

Shared

0.00

None

1.80K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NICOLET BANKSHARES INCSOLE	COMMON STOCK	887.28K	SH	$109.56M 18.93%	0.00	887.28K
SPDR PORTFOLIO S&P 500 VALUE ETFSOLE	OTHER	1.11M	SH	$57.90M 10.00%	1.10M	1.97K
SPDR PORTFOLIO S&P 500 GROWTH ETFSOLE	OTHER	394.09K	SH	$37.56M 6.49%	392.66K	1.43K
VANGUARD S&P 500 ETFSOLE	OTHER	41.71K	SH	$23.69M 4.09%	41.71K	0.00
MICROSOFT CORPSOLE	COMMON STOCK	29.97K	SH	$14.91M 2.58%	23.48K	6.49K
SPDR S&P 500 ETF TRUSTOTR	OTHER	22.61K	SH	$13.97M 2.41%	22.36K	251.00
APPLE INCSOLE	COMMON STOCK	67.04K	SH	$13.75M 2.38%	57.30K	9.74K
ISHARES S&P 500 BARRA GROWTH INDEX FUNDSOLE	OTHER	121.68K	SH	$13.40M 2.31%	121.68K	0.00
AVANTIS EMERGING MARKETS EQUITY ETFSOLE	OTHER	195.11K	SH	$13.37M 2.31%	178.91K	16.20K
NVIDIA CORPSOLE	COMMON STOCK	76.75K	SH	$12.13M 2.10%	57.10K	19.65K
ISHARES CORE S&P 500 ETFSOLE	OTHER	15.39K	SH	$9.56M 1.65%	14.54K	855.00
VANGUARD FTSE DEVELOPED MARKETSSOLE	OTHER	146.38K	SH	$8.35M 1.44%	120.88K	25.50K
AMAZON.COM INCSOLE	COMMON STOCK	33.73K	SH	$7.40M 1.28%	23.67K	10.06K
JPMORGAN CHASE & COSOLE	COMMON STOCK	23.57K	SH	$6.83M 1.18%	18.60K	4.96K
ALPS ETF TR ALERIAN MLP ETF NEWOTR	OTHER	138.09K	SH	$6.75M 1.17%	138.09K	0.00
ISHARES RUSSELL 1000 GROWTH INDEX FDSOLE	OTHER	15.72K	SH	$6.67M 1.15%	15.72K	0.00
AVANTIS INVESTORSOTR	OTHER	147.26K	SH	$6.50M 1.12%	147.07K	185.00
COSTCO WHOLESALE CORPSOLE	COMMON STOCK	6.36K	SH	$6.30M 1.09%	5.29K	1.07K
ISHARES S&P 500/VALUESOLE	OTHER	32.14K	SH	$6.28M 1.09%	32.14K	0.00
ISHARES MSCI EAFE INDEX FDSOLE	OTHER	69.27K	SH	$6.19M 1.07%	69.27K	0.00
JPM ALERIAN MLP INDEX ETN 1/28/2044SOLE	OTHER	192.98K	SH	$5.84M 1.01%	192.52K	465.00
ALPHABET INC CAP STK CL CSOLE	COMMON STOCK	29.09K	SH	$5.16M 0.89%	19.48K	9.60K
META PLATFORMS INC CL ASOLE	COMMON STOCK	6.34K	SH	$4.68M 0.81%	4.42K	1.93K
VANGUARD TOTAL STOCK MARKET ETFSOLE	OTHER	13.87K	SH	$4.21M 0.73%	13.87K	0.00
MASTERCARD INCSOLE	COMMON STOCK	6.66K	SH	$3.74M 0.65%	4.86K	1.80K

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