Q2 2026 13F · SEC CIK 1174850

Nicolet Bankshares Inc

Bank & trustFiled 2026-08-11 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $3.1B
Reported positions: 612
Top holdings a year, 3 yrs: +20.4%
Average holding period: 4.0 yrs

Nicolet Bankshares Inc is a bank & trust that reported 612 positions worth $3.1B in its Q2 2026 13F, filed 2026-08-11. Its largest holdings were Spdr Series Trust (SPLG, 14.0%), Apple Inc (AAPL, 3.7%), Spdr Series Trust (SPYV, 3.7%). A portfolio copying its top holdings returned 20.4% a year over the last 3 years, against 20.4% for the S&P 500.

Nicolet Bankshares Inc holdings largest 50 of 612 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Nicolet Bankshares Inc 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
SPLGSpdr Series Trust	14.0%	13.2%	5,001,980	+7.8%	$441.8M
AAPLApple Inc	3.7%	3.6%	387,221	+0.1%	$116.8M
SPYVSpdr Series Trust	3.7%	3.9%	1,884,218	-0.1%	$115.8M
AVEMAmerican Centy ETF Tr	3.2%	3.2%	1,058,365	-0.7%	$101.2M
SPYGSpdr Series Trust	3.0%	2.9%	794,989	-1.2%	$94.4M
VEAVanguard Tax-Managed Fds	2.7%	2.5%	1,188,926	+14.0%	$85.3M
VOOVanguard S&p 500 ETF	1.8%	2.0%	82,963	-7.8%	$57.1M
ITOTIshares Total US Stock Market ETF	1.7%	1.7%	331,608	+2.8%	$54.7M
VOVanguard Index Fds	1.7%	1.5%	674,232	+367.9%	$54.5M
FBNDFidelity Merrimack Str Tr	1.5%	1.1%	1,027,399	+54.1%	$46.7M
MSFTMicrosoft Corp	1.4%	1.5%	112,186	-0.8%	$42.6M
NVDANvidia Corporation Com	1.3%	1.3%	211,513	+7.0%	$41.8M
VTEBVanguard Tx Ex Bd	1.3%	1.5%	789,092	-1.6%	$39.9M
SCHVSchwab Strategic Tr	1.2%	1.3%	1,126,459	-5.6%	$39.2M
MUBIshares National Muni Bond ETF	1.2%	1.4%	358,958	+2.3%	$38.6M
JPMJpmorgan Chase & Co	1.2%	1.3%	115,433	-2.0%	$38.5M
BRK-BBerkshire Hathaway Inc Del	1.2%	1.3%	74,391	+0.8%	$37.6M
VONGVanguard Russell 1000 Growth ETF	1.1%	1.1%	262,461	-1.1%	$33.5M
AMZNAmazon Com Inc Com	1.1%	1.1%	137,494	+0.8%	$33.2M
UITBVictory Portfolios II	1.0%	0.8%	671,256	+38.3%	$31.4M
SPYSpdr S&p 500 ETF Tr	1.0%	1.0%	40,943	-0.1%	$30.6M
GOOGLAlphabet Inc	0.9%	0.9%	81,850	-1.9%	$29.7M
IVVIshares Core S&p 500 ETF	0.9%	1.0%	39,364	-2.9%	$29.6M
AVREAmerican Centy ETF Tr	0.9%	1.0%	619,231	+3.6%	$29.5M
GOOGAlphabet Inc	0.9%	0.8%	77,299	+0.6%	$27.7M
IEFAIshares Core Msci Eafe ETF	0.9%	0.9%	278,220	+0.5%	$26.9M
PGProcter & Gamble Co Com	0.8%	0.9%	167,289	+2.3%	$24.9M
BNDVanguard Total Bond Market ETF	0.7%	0.8%	316,382	+7.4%	$23.1M
MUMicron Technology Inc	0.7%	—	21,644	—	$23.1M
VONEVanguard Scottsdale Fds	0.7%	0.7%	64,114	+4.2%	$21.7M
SCHBSchwb US Broad	0.6%	0.6%	650,210	-7.1%	$18.8M
WECWEC Energy Group Inc.	0.6%	0.7%	160,285	-0.2%	$18.7M
VTVVanguard Value ETF	0.6%	0.6%	84,960	+2.6%	$18.6M
IVWIshares	0.6%	0.5%	126,764	+0.1%	$17.4M
CATCaterpillar Inc Com	0.5%	0.4%	16,554	-0.5%	$17.1M
VBVanguard Indx Fd	0.5%	0.5%	55,781	+8.9%	$16.9M
SPABSpdr Series Trust	0.5%	0.6%	637,416	+0.7%	$16.3M
METAMeta Platforms Inc Class A	0.5%	0.6%	27,975	-7.3%	$16.1M
AVGOBroadcom Inc	0.5%	0.5%	42,684	+2.4%	$16.1M
FSCCFederated Hme Mdt Sml Cor	0.5%	—	435,082	—	$16.0M
LLYLilly Eli & Co	0.5%	—	13,329	—	$16.0M
AGGIshares Tr	0.5%	0.6%	159,599	-2.4%	$15.8M
VCLTVanguard Scottsdale Fds	0.5%	0.6%	202,549	-2.3%	$15.2M
VCSHVanguard Scottsdale Fds	0.5%	0.5%	181,022	-0.7%	$14.3M
AMLPAlps ETF Tr	0.5%	0.5%	275,028	-1.3%	$14.3M
ORCLOracle Corp	0.4%	0.5%	90,690	+4.6%	$13.2M
AMDAdvanced Micro Devices Inc	0.4%	—	22,815	—	$12.9M
HDHome Depot Inc Com	0.4%	0.4%	35,145	-3.2%	$12.3M
KOCoca Cola Co	0.4%	0.4%	149,477	-0.4%	$12.3M
JNJJohnson & Johnson	0.4%	0.4%	47,859	+2.9%	$12.2M

What Nicolet Bankshares Inc bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

VO Vanguard Index Fds+367.9% shares
FBND Fidelity Merrimack Str Tr+54.1% shares
UITB Victory Portfolios II+38.3% shares
VEA Vanguard Tax-Managed Fds+14.0% shares
VB Vanguard Indx Fd+8.9% shares
SPLG Spdr Series Trust+7.8% shares
BND Vanguard Total Bond Market ETF+7.4% shares
NVDA Nvidia Corporation Com+7.0% shares

Reduced

VOO Vanguard S&p 500 ETF-7.8% shares
META Meta Platforms Inc Class A-7.3% shares
SCHB Schwb US Broad-7.1% shares
SCHV Schwab Strategic Tr-5.6% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +19.6% /yr; S&P 500 +20.1%
3 years: +20.4% /yr; S&P 500 +20.4%
5 years: +11.7% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$3.1B	612
Q1 2026	$2.7B	562
Q4 2025	$624.0M	226
Q3 2025	$622.3M	218
Q2 2025	$578.7M	207
Q1 2025	$498.1M	197
Q4 2024	$423.8M	193
Q3 2024	$413.0M	204
Q2 2024	$403.3M	208
Q1 2024	$404.7M	216
Q4 2023	$371.5M	202
Q3 2023	$325.9M	186

Questions about Nicolet Bankshares Inc's portfolio

What stocks does Nicolet Bankshares Inc own?

Nicolet Bankshares Inc's latest 13F, for Q2 2026 and filed Aug 11, 2026, lists 612 positions worth $3.1B. The largest are Spdr Series Trust (SPLG) at 14.0%, Apple Inc (AAPL) at 3.7%, Spdr Series Trust (SPYV) at 3.7%, American Centy ETF Tr (AVEM) at 3.2% and Spdr Series Trust (SPYG) at 3.0%.

What did Nicolet Bankshares Inc buy last quarter?

In Q2 2026, Nicolet Bankshares Inc added Vanguard Index Fds (VO) (+367.9% shares), Fidelity Merrimack Str Tr (FBND) (+54.1% shares) and Victory Portfolios II (UITB) (+38.3% shares), compared with its Q1 2026 filing.

What did Nicolet Bankshares Inc sell last quarter?

In Q2 2026, Nicolet Bankshares Inc cut from its top 50 Exxon Mobil Corp (XOM), cut from its top 50 Walmart Inc (WMT), cut from its top 50 Jpmorgan Chase Finl Co LLC (AMJB), cut from its top 50 Costco Whsl Corp New (COST), Vanguard S&p 500 ETF (VOO) (-7.8% shares), Meta Platforms Inc Class A (META) (-7.3% shares) and Schwb US Broad (SCHB) (-7.1% shares), compared with its Q1 2026 filing.

How has Nicolet Bankshares Inc's portfolio performed?

A portfolio copying Nicolet Bankshares Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +20.4% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +19.6% against +20.1%. Over 5 years: +11.7% a year against +11.6%.

When is Nicolet Bankshares Inc's next 13F filing due?

13F filings are due 45 days after each quarter ends. Nicolet Bankshares Inc's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.