Nicolet Bankshares Inc.

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Nicolet Bankshares Inc. reported 562 stock positions worth $2.7 billion. Its top holding was Ste STR SPDR PT S&P 500 ETF (SPYM) at 13.2% of the portfolio, followed by SS SPDR P S&P 500 Value ETF (SPYV, 3.9%) and Apple (AAPL, 3.6%). Compared with Q4 2025, it opened 340 new positions, sold out of 4, added to 202 and reduced 12. The biggest buy was Ste STR SPDR PT S&P 500 ETF (SPYM, shares +826%) and the biggest sale an exit from Nicolet Bankshares (NIC).

Most Recent 13F
Q2 2026
Location
GREEN BAY, WI
CIK
0001174850
Portfolio Value
$2.7B (Q1 2026)
SEC Filing
0001174850-26-000116 ↗ filed May 14, 2026

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $482.1M Q1 2024 Q2 2024: $476.7M Q2 2024 Q3 2024: $496.0M Q3 2024 Q4 2024: $512.1M Q4 2024 Q1 2025: $498.1M Q1 2025 Q2 2025: $578.7M Q2 2025 Q3 2025: $622.3M Q3 2025 Q4 2025: $624.0M Q4 2025 Q1 2026: $2.7B $2.7B Q1 2026 Q2 2026: $3.1B Q2 2026

Holdings 562 stocks · $2.7B
SPYM Ste STR SPDR PT S&P 500 ETF 13.18% 4,638,019 $357.2M Add +826.3%
SPYV SS SPDR P S&P 500 Value ETF 3.94% 1,885,561 $106.8M Add +166.7%
AAPL Apple Inc. 3.64% 386,955 $98.6M Add +551.1%
AVEM Avantis Emerging Markets Eq 3.19% 1,065,665 $86.4M Add +362.6%
SPYG SS SPDR P S&P 500 Growth ETF 2.93% 804,593 $79.5M Add +260.1%
VEA Vanguard Ftse Developed ETF 2.50% 1,043,067 $67.7M Add +427.5%
VOO Vanguard S&P 500 ETF 1.99% 90,015 $54.0M Add +83.6%
ITOT iShares Core S&P Total U.S. 1.71% 322,440 $46.3M New
MSFT Microsoft Corp. 1.54% 113,090 $41.8M Add +330.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 1.53% 144,092 $41.6M Add +1132.4%
VTEB Vanguard Tax-Exempt Bond ETF 1.48% 801,648 $40.0M New
MUB iShares National Muni Bond E 1.37% 350,848 $37.3M Add +6247.9%
SCHV Schwab US Large-Cap Value 1.34% 1,193,258 $36.4M New
BRK.B Berkshire Hathaway Inc. Class B 1.30% 73,767 $35.3M Add +1251.8%
JPM JPMorgan Chase & Co. 1.28% 117,821 $34.7M Add +504.2%
NVDA Nvidia Corp. 1.28% 197,617 $34.6M Add +226.0%
FBND Fidelity Total Bond ETF 1.12% 666,621 $30.4M New
VONG Vanguard Russell 1000 Growth 1.07% 265,499 $29.1M New
AMZN Amazon.com Inc. 1.05% 136,336 $28.5M Add +397.4%
SPY SS SPDR S&P 500 ETF Trust-US 0.99% 40,982 $26.7M Add +105.0%
IVV iShares Core S&P 500 ETF 0.98% 40,521 $26.6M Add +159.8%
AVRE Avantis Real Estate ETF 0.97% 597,583 $26.4M Add +214.1%
IEFA iShares Core MSCI Eafe ETF 0.93% 276,972 $25.1M Add +7521.7%
GOOGL Alphabet Inc. Class A 0.90% 83,410 $24.4M Add +248.8%
PG The Procter & Gamble Co. 0.87% 163,510 $23.6M Add +866.6%
UITB Victoryshares Core Intermedi 0.84% 485,308 $22.8M Add +1546.5%
GOOG Alphabet Inc. Class C 0.82% 76,834 $22.3M Add +313.4%
BND Vanguard Total Bond Market 0.80% 294,602 $21.6M Add +1184.4%
WEC WEC Energy Group Inc. 0.69% 160,578 $18.6M Add +863.0%
VONE Vanguard Russell 1000 0.67% 61,531 $18.2M Add +92.9%
SCHB Schwab US Broad Market ETF 0.65% 699,782 $17.6M New
META Meta Platforms Inc. Class A 0.64% 30,185 $17.4M Add +379.7%
VTV Vanguard Mrngstr Val ETF-Aui 0.60% 82,779 $16.3M Add +325.5%
AGG iShares Core U.S. Aggregate 0.60% 163,511 $16.2M Add +1190.4%
SPAB SS SPDR P Agg Bond ETF 0.60% 632,970 $16.2M New
VCLT Vanguard Long-Term Corp. Bond 0.57% 207,377 $15.5M New
XOM Exxon Mobil Corp. 0.54% 87,971 $14.6M Add +259.6%
AMLP Alerian MLP ETF 0.54% 278,583 $14.6M Add +122.3%
VCSH Vanguard S/T Corp. Bond ETF 0.53% 182,297 $14.5M Add +5818.7%
IVW iShares S&P 500 Growth ETF 0.53% 126,627 $14.4M Add +19.4%
VB Vanguard Most SM-Cap ETF-Usd 0.50% 51,226 $13.5M Add +688.3%
AVGO Broadcom Inc. 0.48% 41,686 $13.0M Add +770.5%
ORCL Oracle Corp. 0.47% 86,723 $12.7M Add +709.5%
WMT Walmart Inc. 0.46% 99,048 $12.3M Add +415.0%
HD Home Depot Inc. 0.44% 36,315 $12.0M Add +453.2%
CAT Caterpillar Inc. 0.44% 16,638 $11.9M Add +280.7%
KO The Coca-Cola Co. 0.42% 150,041 $11.4M Add +367.2%
JNJ Johnson & Johnson 0.42% 46,527 $11.4M Add +312.4%
AMJB Alerian MLP ETN2044 filed as JPMORGAN CHASE FINL CO LLC 0.42% 330,377 $11.3M Add +130.6%
COST Costco Wholesale Corp. 0.41% 11,173 $11.1M Add +126.9%
YLD Principal Act Hi YLD ETF 0.39% 554,974 $10.5M Add +779.4%
LLY Eli Lilly & Co. 0.38% 11,130 $10.4M Add +745.7%
FSCC Fed Hermes Small Cap Core 0.38% 341,598 $10.2M New
VUG Vanguard Mrngstar GR ETF-Sui 0.36% 22,297 $9.8M Add +284.8%
VGSH Vanguard Short-Term Treasury 0.36% 166,721 $9.7M Add +1054.2%
ABBV Abbvie Inc. 0.34% 42,564 $9.2M Add +625.2%
EFA iShares MSCI Eafe ETF 0.32% 90,277 $8.8M Add +41.3%
ABT Abbott Laboratories 0.32% 85,414 $8.8M Add +325.8%
VTI VG Morningstar TS MKT ETF-US 0.32% 27,187 $8.7M Add +52.6%
PEP Pepsico Inc. 0.32% 56,186 $8.7M Add +662.8%
CVX Chevron Corp. 0.32% 41,875 $8.6M Add +289.7%
SUB iShares Short-Term National 0.30% 77,533 $8.2M New
MU Micron Technology Inc. 0.30% 23,424 $8.2M New
CSCO Cisco Systems Inc. 0.29% 101,258 $7.9M Add +418.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.28% 47,672 $7.7M Add +266.1%
ETN Eaton Corp. PLC 0.27% 20,226 $7.3M Add +251.0%
SPDW Ste STR SPDR PT DW Eu ETF 0.27% 159,260 $7.3M Add +2975.7%
BA The Boeing Co. 0.27% 35,698 $7.3M Add +746.5%
IVE iShares S&P 500 Value ETF 0.27% 34,426 $7.3M Add +28.5%
MA Mastercard Inc. Class A 0.27% 14,511 $7.2M Add +169.5%
CWI State Street SPDR MSCI Acwi 0.26% 194,034 $7.1M Add +110.7%
IWF iShares Russell 1000 Growth 0.26% 16,643 $7.1M Add +38.5%
BFC Bank First Corp. 0.26% 51,519 $7.0M Add +478.0%
RTX RTX Corp. 0.25% 35,020 $6.8M Add +276.2%
PM Philip Morris International 0.25% 41,884 $6.7M Add +647.9%
MLN Vaneck Long Muni ETF 0.25% 384,880 $6.7M New
AVUV Avantis US Small Cap Value 0.24% 57,862 $6.4M New
OSK Oshkosh Corp. 0.23% 42,735 $6.4M New
MDY State Street SPDR S&P Midcap 0.23% 10,178 $6.3M Add +724.1%
UMBF Umb Financial Corp. 0.23% 55,956 $6.3M New
JEPI JPMorgan Equity Premium Inco 0.23% 110,131 $6.2M Add +1176.0%
DFAC Dimensional US Core Equity 2 0.22% 155,955 $6.1M Add +117.4%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.22% 131,302 $6.0M Add +1096.7%
VUSB Vanguard Ultra Short Bond Et 0.21% 116,901 $5.8M New
C Citigroup Inc. 0.21% 48,850 $5.6M Add +656.0%
V Visa Inc. Class A 0.20% 18,442 $5.6M Add +391.3%
AVDE Avantis International Equity 0.20% 64,758 $5.5M Add +450.4%
TSLA Tesla Inc. 0.20% 14,189 $5.4M Add +1947.5%
MCD McDonald's Corp. 0.20% 17,313 $5.4M Add +184.2%
CRM Salesforce Inc. 0.20% 28,489 $5.3M Add +426.4%
DE Deere & Co. 0.19% 9,306 $5.3M Add +158.4%
SLNO Soleno Therapeutics Inc. 0.19% 156,766 $5.2M New
AMD Advanced Micro Devices 0.19% 224,028 $5.2M Add +2991.8%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.19% 27,494 $5.1M Add +74.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 20,633 $5.0M Add +453.9%
FRMI Fermi Inc. 0.18% 838,978 $4.9M New
ADI Analog Devices Inc. 0.18% 15,329 $4.9M Add +144.3%
VCIT Vanguard Int-Term Corporate 0.18% 57,348 $4.7M New
NEE Nextera Energy Inc. 0.17% 50,970 $4.7M Add +265.4%
T AT&T Inc. 0.17% 163,133 $4.7M New

Show all 562 holdings

Portfolio Sells Q4 2025 → Q1 2026
NIC Nicolet Bankshares Inc. Sold out 0.00% −17.17
SNDR Schneider National Inc. Class B Reduce -73.5% 0.02% −0.25
VGT Vanguard Info Tech ETF Reduce -21.3% 0.04% −0.19
JMBS Janus Henderson Mortg Backed Reduce -2.4% 0.03% −0.11
CMG Chipotle Mexican Grill Inc. Reduce -17.4% 0.02% −0.10
DFUS Dimensional US Eq MKT ETF Reduce -4.3% 0.02% −0.07
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -9.9% 0.02% −0.06
SSNC Ss&c Technologies Holdings Reduce -6.8% 0.01% −0.05
EDV Vanguard Extended Dur Treas Reduce -28.9% 0.01% −0.05
DD Dupont DE Nemours Inc. Sold out 0.00% −0.04
TLH iShares 10-20 Year Treasury Sold out 0.00% −0.04
MCHP Microchip Technology Inc. Reduce -4.6% 0.01% −0.04
ACIW Aci Worldwide Inc. Reduce -9.3% 0.01% −0.03
TPLC Timothy PLN US LRG/Mid Cap Sold out 0.00% −0.03
RSPT Invesco S&P 500 Equal Weight Reduce -6.8% 0.01% −0.03
WH Wyndham Hotels & Resorts Inc. Reduce -10.6% 0.01% −0.03

Portfolio Buys Q4 2025 → Q1 2026
SPYM Ste STR SPDR PT S&P 500 ETF Add +826.3% 13.18% +6.74
ITOT iShares Core S&P Total U.S. New 1.71% +1.71
VTEB Vanguard Tax-Exempt Bond ETF New 1.48% +1.48
SCHV Schwab US Large-Cap Value New 1.34% +1.34
MUB iShares National Muni Bond E Add +6247.9% 1.37% +1.28
FBND Fidelity Total Bond ETF New 1.12% +1.12
VONG Vanguard Russell 1000 Growth New 1.07% +1.07
AAPL Apple Inc. Add +551.1% 3.64% +1.05
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +1132.4% 1.53% +0.99
IEFA iShares Core MSCI Eafe ETF Add +7521.7% 0.93% +0.87
BRK.B Berkshire Hathaway Inc. Class B Add +1251.8% 1.30% +0.86
SCHB Schwab US Broad Market ETF New 0.65% +0.65
UITB Victoryshares Core Intermedi Add +1546.5% 0.84% +0.62
SPAB SS SPDR P Agg Bond ETF New 0.60% +0.60
VCLT Vanguard Long-Term Corp. Bond New 0.57% +0.57
BND Vanguard Total Bond Market Add +1184.4% 0.80% +0.53
VEA Vanguard Ftse Developed ETF Add +427.5% 2.50% +0.52
VCSH Vanguard S/T Corp. Bond ETF Add +5818.7% 0.53% +0.49
PG The Procter & Gamble Co. Add +866.6% 0.87% +0.48
WEC WEC Energy Group Inc. Add +863.0% 0.69% +0.41
AGG iShares Core U.S. Aggregate Add +1190.4% 0.60% +0.40
FSCC Fed Hermes Small Cap Core New 0.38% +0.38
AVEM Avantis Emerging Markets Eq Add +362.6% 3.19% +0.34
SUB iShares Short-Term National New 0.30% +0.30
MU Micron Technology Inc. New 0.30% +0.30
JPM JPMorgan Chase & Co. Add +504.2% 1.28% +0.27
MLN Vaneck Long Muni ETF New 0.25% +0.25
AVUV Avantis US Small Cap Value New 0.24% +0.24
OSK Oshkosh Corp. New 0.23% +0.23
SPDW Ste STR SPDR PT DW Eu ETF Add +2975.7% 0.27% +0.23
UMBF Umb Financial Corp. New 0.23% +0.23
VB Vanguard Most SM-Cap ETF-Usd Add +688.3% 0.50% +0.23
VGSH Vanguard Short-Term Treasury Add +1054.2% 0.36% +0.22
VUSB Vanguard Ultra Short Bond Et New 0.21% +0.21
AVGO Broadcom Inc. Add +770.5% 0.48% +0.21
YLD Principal Act Hi YLD ETF Add +779.4% 0.39% +0.19
SLNO Soleno Therapeutics Inc. New 0.19% +0.19
FRMI Fermi Inc. New 0.18% +0.18
VCIT Vanguard Int-Term Corporate New 0.18% +0.18
T AT&T Inc. New 0.17% +0.17
URI United Rentals Inc. New 0.16% +0.16
UTHR United Therapeutics Corp. New 0.16% +0.16
LLY Eli Lilly & Co. Add +745.7% 0.38% +0.16
VGIT Vanguard Intermediate-Term T New 0.16% +0.16
PFF iShares Preferred & Income S New 0.15% +0.15
FNDF Schwab Fndmn Intl LRG Co. ETF New 0.15% +0.15
UAL United Airlines Holdings Inc. New 0.15% +0.15
MCK McKesson Corp. New 0.15% +0.15
PEP Pepsico Inc. Add +662.8% 0.32% +0.15
JEPI JPMorgan Equity Premium Inco Add +1176.0% 0.23% +0.15

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 612$3.1BSPYM, AAPL, SPYV, AVEM, SPYG
Q1 2026 562$2.7BSPYM, SPYV, AAPL, AVEM, SPYG
Q4 2025 226$624.0MNIC, SPYM, SPYV, VOO, SPYG
Q3 2025 218$622.3MNIC, SPYV, SPYG, VOO, AAPL
Q2 2025 207$578.7MNIC, SPYV, SPYG, VOO, MSFT
Q1 2025 197$498.1MNIC, SPYV, SPYG, AAPL, SPY
Q4 2024 193$512.1MNIC, SPYV, SPYG, AAPL, SPY
Q3 2024 204$496.0MNIC, SPYV, SPYG, AAPL, MSFT
Q2 2024 208$476.7MNIC, SPYV, SPYG, AAPL, MSFT
Q1 2024 216$482.1MNIC, SPYV, SPYG, MSFT, AAPL