NICOLET BANKSHARES INC

Registered adviser

CIK

1174850

Location

GREEN BAY, WI

Portfolio Value

Mid $3,134,036,834

Diversification

Diversified

Files via

(1) NICOLET NATIONAL BANK (2) NICOLET ADVISORY SERVICES, LLC

Filing Date

Global Rank

#1,216 / 8,827 ▲ 16

Top Industry

Semiconductors 10.1%

Period ended 4 months ago

Filed Aug 11, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Records disagree; the first in precedence decides.

Form ADV adviser

CRD 283940

Roster of Nov 1, 2026

Regulatory AUM

$4,293,915,904

Main clients

Individuals and high net worth (65% of AUM)

SIC code

6021

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$4,293,915,904	Individuals and high net worth (65%)
Apr 2025 to Mar 2026	$3,849,158,087	Individuals and high net worth (63%)
Apr 2024 to Mar 2025	$3,665,411,749	Individuals and high net worth (61%)
May 2023 to Mar 2024	$2,930,862,255	Individuals and high net worth (59%)
Apr 2023	$2,930,862,255	Individuals and high net worth (59%)
Apr 2022 to Mar 2023	$1,456,224,984	Individuals and high net worth (97%)

3 earlier changes not shown.

Stated strategy

Wealth management / planning Form ADV Part 2A, Mar 31, 2026 · original

In the firm's words

Wealth management / planning: In selecting outside managers, we review the following qualitative and quantitative factors (as applicable) to filter out managers who are not a good fit:

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 55.9%, 15.1 effective positions, active share 57.2% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

26.3% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 14.1 quarters (12+), a floor since 42.8% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 57.2%; sector active share 49.2% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

612 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

21.5%

+0.6 pts

Top 5

44.6%

+0.7 pts

Top 10

55.9%

+0.6 pts

HHI

660

Diversified+26

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	62.0%	$1,944,586,808	215
Technology	12.1%	$378,153,930	73
Financial Services	6.4%	$199,126,923	78
Industrials	4.5%	$141,208,820	73
Healthcare	3.4%	$107,493,324	47
Communication Services	2.9%	$91,062,853	15
Consumer Defensive	2.8%	$88,682,546	22
Consumer Cyclical	2.8%	$86,501,770	30
Utilities	1.4%	$43,001,099	17
Energy	1.2%	$36,798,766	20
Real Estate	0.3%	$8,986,261	12
Basic Materials	0.3%	$8,433,734	10

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
VO	VANGUARD MID-CAP INDEX FUND	+530,140	674,232	$54,322,871
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	+363,961	5,001,980	$439,574,001
FBND	Fidelity Total Bond ETF	+360,778	1,027,399	$46,736,380
IBIT	iShares Bitcoin Trust ETF	+190,735	211,199	$7,030,814
UITB	VictoryShares Core Intermediate Bond ETF	+185,948	671,256	$31,440,287
VEA	Vanguard FTSE Developed Markets ETF	+145,859	1,188,926	$84,710,977
VUG	VANGUARD GROWTH INDEX FUND	+110,357	132,654	$11,426,814
FSCC	Federated Hermes MDT Small Cap Core ETF	+93,484	435,082	$16,241,610
FIS	Fidelity National Information Services, Inc.	+82,110	97,297	$3,782,907
IWF	iShares Russell 1000 Growth ETF	+49,843	66,486	$8,255,566
GLIX	Lazard Active ETF Trust	+47,853	174,260	$4,827,001
GOVT	iShares U.S. Treasury Bond ETF	+45,491	59,663	$1,359,122
HDEF	Xtrackers MSCI EAFE High Dividend Yield Equity ETF	+29,370	150,453	$4,835,559
SCHD	Schwab U.S. Dividend Equity ETF	+26,798	139,930	$4,437,180
AVDE	Avantis International Equity ETF	+24,701	89,459	$7,979,742
UAL	United Airlines Holdings, Inc.	+23,727	68,629	$9,332,857
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	+21,780	316,382	$23,225,602
AVRE	Avantis Real Estate ETF	+21,648	619,231	$29,339,164
DIVO	Amplify CWP Enhanced Dividend Income ETF	+19,251	102,293	$4,674,790
VOOG	VANGUARD S&P 500 GROWTH INDEX FUND	+19,068	22,874	$1,889,849
JEPQ	JPMorgan Nasdaq Equity Premium Income ETF	+18,710	88,546	$5,442,036
CWI	Spdr Index Shares Funds	+16,981	211,015	$8,581,979
SUB	iShares Short-Term National Muni Bond ETF	+16,651	94,184	$10,027,770
OMC	Omnicom Group Inc.	+15,905	52,009	$3,787,815
JEPI	JPMorgan Equity Premium Income ETF	+15,154	125,285	$7,076,096
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
FRMI	Fermi Inc.	−468,801	370,177	$3,390,821
YLD	Principal Active High Yield ETF	−411,772	143,202	$2,732,293
AMD	Advanced Micro Devices Inc	−201,213	22,815	$13,253,460
ALK	Alaska Air Group, Inc.	−89,630	14,016	$731,635
SCHV	Schwab U.S. Large-Cap Value ETF	−66,799	1,126,459	$39,212,037
BSX	Boston Scientific Corp	−50,010	13,047	$556,845
SCHB	Schwab U.S. Broad Market ETF	−49,572	650,210	$18,830,081
ABT	Abbott Laboratories	−22,979	62,435	$5,665,350
DFAC	Dimensional U.S. Core Equity 2 ETF	−20,329	135,626	$6,016,368
PYPL	PayPal Holdings, Inc.	−17,636	9,068	$391,556
SLV	iShares Silver Trust	−17,372	9,410	$503,152
ET	Energy Transfer LP	−16,986	69,027	$1,319,796
PFF	iShares Preferred and Income Securities ETF	−15,503	122,869	$3,746,275
WAL	Western Alliance Bancorporation	−13,886	20,987	$1,725,131
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	−12,556	789,092	$39,912,272
MLN	VanEck Long Muni ETF	−12,373	372,507	$6,623,174
CMCSA	Comcast Corp	−11,446	38,900	$954,994
SPDW	State Street(R) SPDR(R) Portfolio Developed World ex-US ETF	−10,870	148,390	$7,477,372
M	Macy's, Inc.	−10,813	110,350	$2,598,742
MRVL	Marvell Technology, Inc.	−9,715	1,913	$569,863
SPYG	State Street(R) SPDR(R) Portfolio S&P 500(R) Growth ETF	−9,604	794,989	$94,595,740
MET	Metlife Inc	−9,337	9,749	$824,862
CSX	Csx Corp	−8,769	35,152	$1,670,774
HON	Honeywell International Inc	−8,614	7,648	$1,712,387
AMJB		−8,008	322,369	$11,118,504
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
JHHY	John Hancock High Yield ETF	408,702	$10,447,649
—		13,708	$3,983,818
HONA	Honeywell Aerospace Inc.	7,648	$1,690,818
IOO	iShares Global 100 ETF	12,159	$1,660,919
BCS	Barclays PLC	58,462	$1,570,289
FYC	First Trust Small Cap Growth AlphaDEX Fund	11,335	$1,443,398
DAR	Darling Ingredients Inc.	23,117	$1,262,650
PLTU	Direxion Daily PLTR Bull 2X Shares	46,784	$1,178,956
KDP	Keurig Dr Pepper Inc.	35,739	$1,169,737
SMMT	Summit Therapeutics Inc.	72,593	$1,057,680
WDAY	Workday, Inc.	8,004	$979,849
PGX	Invesco Ltd.	81,400	$882,376
IGHG	ProShares Investment Grade-Interest Rate Hedged	10,330	$809,148
FRDM	Freedom 100 Emerging Markets ETF	10,770	$785,133
CTSH	Cognizant Technology Solutions Corp	19,621	$759,921
SJM	J M SMUCKER Co	6,399	$719,887
EELV	Invesco Ltd.	23,889	$664,114
RWJ	Invesco Ltd.	11,083	$659,438
VONV	VANGUARD RUSSELL 1000 VALUE INDEX FUND	6,062	$644,451
CGBL	Capital Group Core Balanced ETF	14,379	$545,826
FTSM	First Trust Enhanced Short Maturity ETF	9,037	$539,780
DVN	Devon Energy Corp	12,989	$536,705
—		5,631	$516,024
FENI	Fidelity Enhanced International ETF	12,617	$506,320
SPIB	State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF	14,449	$483,463
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		156,766	$5,248,525
OKTA	Okta, Inc.	11,493	$904,614
WIX	Wix.com Ltd.	9,970	$897,997
—		12,994	$456,609
DHI	Horton D R Inc	2,279	$312,724
EPAM	EPAM Systems, Inc.	2,053	$277,976
AMCR	Amcor plc	6,957	$276,540
AWK	American Water Works Company, Inc.	2,024	$275,446
BSY	Bentley Systems Inc	7,685	$269,897
MGRC	Mcgrath Rentcorp	2,415	$266,326
SYY	Sysco Corp	3,703	$264,134
MUSA	Murphy USA Inc.	525	$259,334
GXO	GXO Logistics, Inc.	4,953	$256,813
NOC	Northrop Grumman Corp	375	$255,840
STZ	Constellation Brands, Inc.	1,687	$253,050
PR	Permian Resources Corp	11,780	$251,149
EDV	Vanguard World Fund	3,722	$241,743
GCT	GigaCloud Technology Inc	5,178	$234,977
AVY	Avery Dennison Corp	1,336	$230,700
MDU	Mdu Resources Group Inc	11,120	$230,406
DLX	Deluxe Corp	8,000	$220,320
AKRE	Professionally Managed Portfolios	4,088	$216,050
ABNB	Airbnb, Inc.	1,687	$213,034
GII	State Street(R) SPDR(R) S&P(R) Global Infrastructure ETF	2,728	$207,382
GWX	State Street(R) SPDR(R) S&P(R) International Small Cap ETF	4,851	$204,857
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

612 tracked positions · $3,134,036,834 total · filing declares 916 positions · $3,145,078,522 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 612 positions by value · page 1 of 13

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPYM	State Street(R) SPDR(R) Portfolio S&P 500(R) ETF	Added	5,001,980	+363,961	$439,574,001	+23.8%	3	$80.33	14.03%
SPYV	State Street(R) SPDR(R) Portfolio S&P 500(R) Value ETF	Reduced	1,884,218	-1,343	$114,541,611	+7.4%	26+	before history	3.65%
AAPL	Apple Inc. Technology	Added	387,221	+266	$112,046,267	+14.1%	26+	before history	3.58%
AVEM	Avantis Emerging Markets Equity ETF	Reduced	1,058,365	-7,300	$102,121,638	+18.9%	7	$78.98	3.26%
SPYG	State Street(R) SPDR(R) Portfolio S&P 500(R) Growth ETF	Reduced	794,989	-9,604	$94,595,740	+20.1%	26+	before history	3.02%
VEA	Vanguard FTSE Developed Markets ETF	Added	1,188,926	+145,859	$84,710,977	+26.7%	26+	before history	2.70%
VOO	VANGUARD 500 INDEX FUND	Reduced	82,963	-7,052	$56,979,817	+5.9%	26+	before history	1.82%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Added	331,608	+9,168	$54,473,246	+18.6%	2	unpriced	1.74%
VO	VANGUARD MID-CAP INDEX FUND	Added	674,232	+530,140	$54,322,871	+31.3%	22	unpriced	1.73%
FBND	Fidelity Total Bond ETF	Added	1,027,399	+360,778	$46,736,380	+53.7%	2	$45.94	1.49%
NVDA	Nvidia Corp CALL + SHARES Technology	Added	211,613	+13,996	$42,341,644	+22.9%	26+	before history	1.35%
MSFT	Microsoft Corp Technology	Reduced	112,186	-904	$41,847,621	−0.0%	26+	before history	1.34%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Reduced	789,092	-12,556	$39,912,272	−0.2%	2	$50.49	1.27%
SCHV	Schwab U.S. Large-Cap Value ETF	Reduced	1,126,459	-66,799	$39,212,037	+7.7%	2	$31.16	1.25%
MUB	iShares National Muni Bond ETF	Added	358,958	+8,110	$38,631,058	+3.7%	26+	before history	1.23%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	115,433	-2,388	$37,784,682	+9.0%	26+	before history	1.21%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	74,391	+624	$37,224,512	+5.3%	26+	before history	1.19%
VONG	VANGUARD RUSSELL 1000 GROWTH INDEX FUND	Reduced	262,461	-3,038	$33,545,140	+15.2%	2	$116.84	1.07%
AMZN	Amazon Com Inc Consumer Cyclical	Added	137,494	+1,158	$32,770,319	+15.4%	26+	before history	1.05%
UITB	VictoryShares Core Intermediate Bond ETF	Added	671,256	+185,948	$31,440,287	+37.8%	4	$47.24	1.00%
SPY	Spdr S&P 500 ETF Trust	Reduced	40,943	-39	$30,575,003	+14.7%	26+	before history	0.98%
IVV	iShares Core S&P 500 ETF	Reduced	39,364	-1,157	$29,479,304	+11.4%	26+	before history	0.94%
AVRE	Avantis Real Estate ETF	Added	619,231	+21,648	$29,339,164	+11.5%	13	$44.29	0.94%
GOOGL	Alphabet Inc. Communication Services	Reduced	81,850	-1,560	$29,250,734	+22.0%	26+	before history	0.93%
GOOG	Alphabet Inc. Communication Services	Added	77,299	+465	$27,312,054	+23.9%	26+	before history	0.87%
IEFA	iShares Core MSCI EAFE ETF	Added	278,220	+1,248	$26,870,487	+7.2%	5	unpriced	0.86%
MU	Micron Technology Inc Technology	Reduced	21,644	-1,780	$24,983,452	+215.7%	2	$391.72	0.80%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	167,289	+3,779	$24,531,257	+3.9%	26+	before history	0.78%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Added	316,382	+21,780	$23,225,602	+7.1%	26+	before history	0.74%
VONE	VANGUARD RUSSELL 1000 INDEX FUND	Added	64,114	+2,583	$21,716,693	+19.6%	3	$308.21	0.69%
SCHB	Schwab U.S. Broad Market ETF	Reduced	650,210	-49,572	$18,830,081	+7.2%	2	$26.24	0.60%
WEC	Wec Energy Group, Inc. Utilities	Reduced	160,285	-293	$18,716,477	+0.7%	26+	before history	0.60%
VTV	VANGUARD VALUE INDEX FUND	Added	84,960	+2,181	$18,515,332	+14.0%	26+	before history	0.59%
CAT	Caterpillar Inc Industrials	Reduced	16,554	-84	$17,628,354	+49.6%	26+	before history	0.56%
IVW	iShares S&P 500 Growth ETF	Added	126,764	+137	$17,433,852	+21.7%	26+	before history	0.56%
VB	Vanguard Index Funds	Added	55,781	+4,555	$16,908,336	+26.0%	20	unpriced	0.54%
SPAB	State Street(R) SPDR(R) Portfolio Aggregate Bond ETF	Added	637,416	+4,446	$16,266,855	+0.3%	2	$25.80	0.52%
FSCC	Federated Hermes MDT Small Cap Core ETF	Added	435,082	+93,484	$16,241,610	+60.1%	2	$31.60	0.52%
AVGO	Broadcom Inc. Technology	Added	42,684	+998	$16,123,880	+25.0%	10	$316.06	0.51%
LLY	ELI LILLY & Co Healthcare	Added	13,329	+2,199	$15,987,203	+56.2%	26+	before history	0.51%
AGG	iShares Core U.S. Aggregate Bond ETF	Reduced	159,599	-3,912	$15,797,108	−2.7%	5	unpriced	0.50%
META	Meta Platforms, Inc. Communication Services	Reduced	27,975	-2,210	$15,758,036	−8.8%	26+	before history	0.50%
		Reduced	202,549	-4,828	$15,241,812	−1.6%	2	$75.98	0.49%
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	Reduced	181,022	-1,275	$14,306,168	−1.0%	4	$79.69	0.46%
AMLP	Alerian MLP ETF	Reduced	275,028	-3,555	$14,260,201	−2.8%	26+	before history	0.46%
ORCL	Oracle Corp Technology	Added	90,690	+3,967	$13,290,617	+4.2%	26+	before history	0.42%
AMD	Advanced Micro Devices Inc Technology	Reduced	22,815	-201,213	$13,253,460	+160.1%	11	unpriced	0.42%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	35,145	-1,170	$12,394,937	+3.8%	26+	before history	0.40%
JNJ	Johnson & Johnson Healthcare	Added	47,859	+1,332	$12,154,749	+6.9%	26+	before history	0.39%
KO	Coca Cola Co Consumer Defensive	Reduced	149,477	-564	$12,147,995	+6.5%	26+	before history	0.39%

Showing the top 50 of 612 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.