NICOLET BANKSHARES INC

PublicCIK: 1174850

NICNYSE

Location

GREEN BAY, WI

562

Positions

$2.71B

Total AUM (reported)

31.95M

Total Shares

Allocation by class

COM$851.57M31.4%

STATE STREET SPD$589.97M21.8%

AVANTIS EMGMKT$86.42M3.2%

VAN FTSE DEV MKT$67.70M2.5%

S&P 500 ETF SHS$53.95M2.0%

CORE S&P TTL STK$46.25M1.7%

MID CAP ETF$41.59M1.5%

Portfolio Concentration

Top 3$562.52M20.8%

4–10$417.25M15.4%

11–25$459.22M16.9%

Rest$1.27B46.9%

Top 3 weight

20.8%

Top 10 weight

36.1%

Voting Authority Distribution

Total shares with voting rights: 31.95M

Sole

Full voting authority

15.58M

% of voting shares48.8%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

16.37M

% of voting shares51.2%

Investment Discretion (by position count)

Sole532

Shared0

Other30

Dominant voting typeNone · 51.2% of voting shares

Institutional Holdings562

Rows:

SPDR SERIES TRUST

OTR

STATE STREET SPD

Shares4.64M

TypeSH

Market value$357.17M

13.18%

Sole

881.79K

Shared

0.00

None

3.76M

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares1.89M

TypeSH

Market value$106.77M

3.94%

Sole

691.58K

Shared

0.00

None

1.19M

APPLE INC

OTR

COM

Shares386.95K

TypeSH

Market value$98.58M

3.64%

Sole

182.65K

Shared

0.00

None

204.31K

AMERICAN CENTY ETF TR

SOLE

AVANTIS EMGMKT

Shares1.07M

TypeSH

Market value$86.42M

3.19%

Sole

288.44K

Shared

0.00

None

777.23K

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares804.59K

TypeSH

Market value$79.53M

2.93%

Sole

224.93K

Shared

0.00

None

579.66K

VANGUARD TAX-MANAGED FDS

SOLE

VAN FTSE DEV MKT

Shares1.04M

TypeSH

Market value$67.70M

2.50%

Sole

233.42K

Shared

0.00

None

809.64K

VANGUARD INDEX FDS

SOLE

S&P 500 ETF SHS

Shares90.02K

TypeSH

Market value$53.95M

1.99%

Sole

55.83K

Shared

0.00

None

34.19K

ISHARES TR

SOLE

CORE S&P TTL STK

Shares322.44K

TypeSH

Market value$46.25M

1.71%

Sole

0.00

Shared

0.00

None

322.44K

MICROSOFT CORP

SOLE

COM

Shares113.09K

TypeSH

Market value$41.82M

1.54%

Sole

57.31K

Shared

0.00

None

55.78K

VANGUARD INDEX FDS

SOLE

MID CAP ETF

Shares144.09K

TypeSH

Market value$41.59M

1.53%

Sole

31.10K

Shared

0.00

None

112.99K

VANGUARD MUN BD FDS

SOLE

TAX EXEMPT BD

Shares801.65K

TypeSH

Market value$40.01M

1.48%

Sole

19.31K

Shared

0.00

None

782.34K

ISHARES TR

OTR

NATIONAL MUN ETF

Shares350.85K

TypeSH

Market value$37.26M

1.37%

Sole

250.93K

Shared

0.00

None

99.92K

SCHWAB STRATEGIC TR

SOLE

US LCAP VA ETF

Shares1.19M

TypeSH

Market value$36.39M

1.34%

Sole

1.19M

Shared

0.00

None

353.00

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares73.77K

TypeSH

Market value$35.31M

1.30%

Sole

15.24K

Shared

0.00

None

58.53K

JPMORGAN CHASE & CO

OTR

COM

Shares117.82K

TypeSH

Market value$34.74M

1.28%

Sole

49.01K

Shared

0.00

None

68.81K

NVIDIA CORPORATION

SOLE

COM

Shares197.62K

TypeSH

Market value$34.62M

1.28%

Sole

82.71K

Shared

0.00

None

114.91K

FIDELITY MERRIMACK STR TR

SOLE

TOTAL BD ETF

Shares666.62K

TypeSH

Market value$30.40M

1.12%

Sole

4.56K

Shared

0.00

None

662.06K

VANGUARD SCOTTSDALE FDS

SOLE

VNG RUS1000GRW

Shares265.50K

TypeSH

Market value$29.12M

1.07%

Sole

265.44K

Shared

0.00

None

63.00

AMAZON COM INC

OTR

COM

Shares136.34K

TypeSH

Market value$28.54M

1.05%

Sole

71.06K

Shared

0.00

None

65.28K

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares40.98K

TypeSH

Market value$26.72M

0.99%

Sole

26.44K

Shared

0.00

None

14.55K

ISHARES TR

SOLE

CORE S&P500 ETF

Shares40.52K

TypeSH

Market value$26.56M

0.98%

Sole

21.88K

Shared

0.00

None

18.64K

AMERICAN CENTY ETF TR

SOLE

REAL ESTATE ETF

Shares597.58K

TypeSH

Market value$26.43M

0.97%

Sole

203.39K

Shared

0.00

None

394.19K

ISHARES TR

SOLE

CORE MSCI EAFE

Shares276.97K

TypeSH

Market value$25.09M

0.93%

Sole

266.53K

Shared

0.00

None

10.44K

ALPHABET INC

SOLE

CAP STK CL A

Shares83.41K

TypeSH

Market value$24.45M

0.90%

Sole

36.44K

Shared

0.00

None

46.97K

PROCTER & GAMBLE CO

OTR

COM

Shares163.51K

TypeSH

Market value$23.57M

0.87%

Sole

32.89K

Shared

0.00

None

130.62K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
SPDR SERIES TRUSTOTR	STATE STREET SPD	4.64M	SH	$357.17M 13.18%	881.79K	3.76M
SPDR SERIES TRUSTSOLE	STATE STREET SPD	1.89M	SH	$106.77M 3.94%	691.58K	1.19M
APPLE INCOTR	COM	386.95K	SH	$98.58M 3.64%	182.65K	204.31K
AMERICAN CENTY ETF TRSOLE	AVANTIS EMGMKT	1.07M	SH	$86.42M 3.19%	288.44K	777.23K
SPDR SERIES TRUSTSOLE	STATE STREET SPD	804.59K	SH	$79.53M 2.93%	224.93K	579.66K
VANGUARD TAX-MANAGED FDSSOLE	VAN FTSE DEV MKT	1.04M	SH	$67.70M 2.50%	233.42K	809.64K
VANGUARD INDEX FDSSOLE	S&P 500 ETF SHS	90.02K	SH	$53.95M 1.99%	55.83K	34.19K
ISHARES TRSOLE	CORE S&P TTL STK	322.44K	SH	$46.25M 1.71%	0.00	322.44K
MICROSOFT CORPSOLE	COM	113.09K	SH	$41.82M 1.54%	57.31K	55.78K
VANGUARD INDEX FDSSOLE	MID CAP ETF	144.09K	SH	$41.59M 1.53%	31.10K	112.99K
VANGUARD MUN BD FDSSOLE	TAX EXEMPT BD	801.65K	SH	$40.01M 1.48%	19.31K	782.34K
ISHARES TROTR	NATIONAL MUN ETF	350.85K	SH	$37.26M 1.37%	250.93K	99.92K
SCHWAB STRATEGIC TRSOLE	US LCAP VA ETF	1.19M	SH	$36.39M 1.34%	1.19M	353.00
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	73.77K	SH	$35.31M 1.30%	15.24K	58.53K
JPMORGAN CHASE & COOTR	COM	117.82K	SH	$34.74M 1.28%	49.01K	68.81K
NVIDIA CORPORATIONSOLE	COM	197.62K	SH	$34.62M 1.28%	82.71K	114.91K
FIDELITY MERRIMACK STR TRSOLE	TOTAL BD ETF	666.62K	SH	$30.40M 1.12%	4.56K	662.06K
VANGUARD SCOTTSDALE FDSSOLE	VNG RUS1000GRW	265.50K	SH	$29.12M 1.07%	265.44K	63.00
AMAZON COM INCOTR	COM	136.34K	SH	$28.54M 1.05%	71.06K	65.28K
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	40.98K	SH	$26.72M 0.99%	26.44K	14.55K
ISHARES TRSOLE	CORE S&P500 ETF	40.52K	SH	$26.56M 0.98%	21.88K	18.64K
AMERICAN CENTY ETF TRSOLE	REAL ESTATE ETF	597.58K	SH	$26.43M 0.97%	203.39K	394.19K
ISHARES TRSOLE	CORE MSCI EAFE	276.97K	SH	$25.09M 0.93%	266.53K	10.44K
ALPHABET INCSOLE	CAP STK CL A	83.41K	SH	$24.45M 0.90%	36.44K	46.97K
PROCTER & GAMBLE COOTR	COM	163.51K	SH	$23.57M 0.87%	32.89K	130.62K

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