NICOLET BANKSHARES INC
Long book
$2.71B
Q1 2026
Positions
562
Top-10 weight
36%
concentration
Last quarter
+12.3%
SPY +14.8%
Turnover
61%
of book per quarter
Strategy in plain words
auto-generated from filingsNICOLET BANKSHARES INC is a wealth-management firm allocating client money, running a $2.71B US long book across 562 positions.
The portfolio is moderately concentrated (top 10 ≈ 36% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: STE STR SPDR PT S&P 500 ETF, SS SPDR P S&P 500 VALUE ETF, APPLE INC, AVANTIS EMERGING MARKETS EQ, SS SPDR P S&P 500 GROWTH ETF.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.9%
Q2 2024
+5.9%
Q3 2024
+0.7%
Q4 2024
-2.4%
Q1 2025
+9.6%
Q2 2025
+7.4%
Q3 2025
+0.1%
Q4 2025
+2.2%
Q1 2026
+12.3%
Sector allocation
Technology 33%
Financials 15%
Industrials 12%
Consumer discretionary 10%
Healthcare 8%
Utilities 5%
Other 4%
Services media 4%
Long book by quarter
What does NICOLET BANKSHARES own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 387.0K | $98.6M | 3.6% | +551.1% |
| MSFT MICROSOFT CORP | Technology | 113.1K | $41.8M | 1.5% | +330.6% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 73.8K | $35.3M | 1.3% | +1251.8% |
| JPM JPMORGAN CHASE & CO | Financials | 117.8K | $34.7M | 1.3% | +504.2% |
| NVDA NVIDIA CORP | Technology | 197.6K | $34.6M | 1.3% | +226.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 136.3K | $28.5M | 1.1% | +397.4% |
| GOOGL ALPHABET INC-CL A | Technology | 83.4K | $24.4M | 0.9% | +248.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 163.5K | $23.6M | 0.9% | +866.6% |
| GOOG ALPHABET INC-CL C | Technology | 76.8K | $22.3M | 0.8% | +313.4% |
| WEC WEC ENERGY GROUP INC | Utilities | 160.6K | $18.6M | 0.7% | +863.0% |
| META META PLATFORMS INC-CLASS A | Technology | 30.2K | $17.4M | 0.6% | +379.7% |
| XOM EXXON MOBIL CORP | Energy | 88.0K | $14.6M | 0.5% | +259.6% |
| AVGO BROADCOM INC | Technology | 41.7K | $13.0M | 0.5% | +770.5% |
| ORCL ORACLE CORP | Technology | 86.7K | $12.7M | 0.5% | +709.5% |
| WMT WALMART INC | Consumer discretionary | 99.0K | $12.3M | 0.5% | +415.0% |
| HD HOME DEPOT INC | Consumer discretionary | 36.3K | $12.0M | 0.4% | +453.2% |
| CAT CATERPILLAR INC | Industrials | 16.6K | $11.9M | 0.4% | +280.7% |
| KO COCA-COLA CO/THE | Consumer staples | 150.0K | $11.4M | 0.4% | +367.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 46.5K | $11.4M | 0.4% | +312.4% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 11.2K | $11.1M | 0.4% | +126.9% |
| LLY ELI LILLY & CO | Healthcare | 11.1K | $10.4M | 0.4% | +745.7% |
| ABBV ABBVIE INC | Healthcare | 42.6K | $9.2M | 0.3% | +625.2% |
| ABT ABBOTT LABORATORIES | Healthcare | 85.4K | $8.8M | 0.3% | +325.8% |
| PEP PEPSICO INC | Consumer staples | 56.2K | $8.7M | 0.3% | +662.8% |
| CVX CHEVRON CORP | Energy | 41.9K | $8.6M | 0.3% | +289.7% |
| MU MICRON TECHNOLOGY INC | Technology | 23.4K | $8.2M | 0.3% | New |
| CSCO CISCO SYSTEMS INC | Technology | 101.3K | $7.9M | 0.3% | +418.0% |
| TJX TJX COMPANIES INC | Consumer discretionary | 47.7K | $7.7M | 0.3% | +266.1% |
| ETN EATON CORP PLC | Industrials | 20.2K | $7.3M | 0.3% | +251.0% |
| BA BOEING CO/THE | Industrials | 35.7K | $7.3M | 0.3% | +746.5% |
| MA MASTERCARD INC - A | Services media | 14.5K | $7.2M | 0.3% | +169.5% |
| BFC BANK FIRST CORP | Financials | 51.5K | $7.0M | 0.3% | +478.0% |
| RTX RTX CORP | Industrials | 35.0K | $6.8M | 0.3% | +276.2% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 41.9K | $6.7M | 0.2% | +647.9% |
| OSK OSHKOSH CORP | Industrials | 42.7K | $6.4M | 0.2% | New |
| UMBF UMB FINANCIAL CORP | Financials | 56.0K | $6.3M | 0.2% | New |
| C CITIGROUP INC | Financials | 48.9K | $5.6M | 0.2% | +656.0% |
| V VISA INC-CLASS A SHARES | Services media | 18.4K | $5.6M | 0.2% | +391.3% |
| TSLA TESLA INC | Industrials | 14.2K | $5.4M | 0.2% | +1947.5% |
| MCD MCDONALD'S CORP | Consumer discretionary | 17.3K | $5.4M | 0.2% | +184.2% |
| CRM SALESFORCE INC | Technology | 28.5K | $5.3M | 0.2% | +426.4% |
| DE DEERE & CO | Industrials | 9.3K | $5.3M | 0.2% | +158.4% |
| SLNOEUR SOLENO THERAPEUTICS INC | — | 156.8K | $5.2M | 0.2% | New |
| AMD ADVANCED MICRO DEVICES | Technology | 224.0K | $5.2M | 0.2% | +2991.7% |
| IBM INTL BUSINESS MACHINES CORP | Technology | 20.6K | $5.0M | 0.2% | +453.9% |
| FRMI FERMI INC | Real estate | 839.0K | $4.9M | 0.2% | New |
| ADI ANALOG DEVICES INC | Technology | 15.3K | $4.9M | 0.2% | +144.3% |
| NEE NEXTERA ENERGY INC | Utilities | 51.0K | $4.7M | 0.2% | +265.5% |
| T AT&T INC | Communications | 163.1K | $4.7M | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 832 | $2.71B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 9, 2026 | 231 | $624.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 223 | $622.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 212 | $578.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 204 | $498.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 200 | $423.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 211 | $413.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 219 | $403.3M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 227 | $404.7M | canonical | SEC ↗ |