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%), State Street Spdr Portfolio S&p 500 Valu (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
SPYVState Street Spdr Portfolio S&p 500 Valu	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
SPYGState Street Spdr Portfolio S&p 500 Grow	3.0%	2.9%	794,989	-1.2%	$94.4M
VEAVanguard Ftse Developed Markets Index Fu	2.7%	2.5%	1,188,926	+14.0%	$85.3M
VOOVanguard Index Fds	1.8%	2.0%	82,963	-7.8%	$57.1M
ITOTIshares Tr	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	1.3%	1.3%	211,513	+7.0%	$41.8M
VTEBVanguard Mun Bd Fds	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 Tr	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 Scottsdale Fds	1.1%	1.1%	262,461	-1.1%	$33.5M
AMZNAmazon Com Inc	1.1%	1.1%	137,494	+0.8%	$33.2M
UITBVictory Portfolios II	1.0%	0.8%	671,256	+38.3%	$31.4M
SPYState Str Spdr S&p 500 ETF T	1.0%	1.0%	40,943	-0.1%	$30.6M
GOOGLAlphabet Inc	0.9%	0.9%	81,850	-1.9%	$29.7M
IVVIshares Tr	0.9%	1.0%	39,364	-2.9%	$29.6M
AVREAvantis Real Estate ETF	0.9%	1.0%	619,231	+3.6%	$29.5M
GOOGAlphabet Inc	0.9%	0.8%	77,299	+0.6%	$27.7M
IEFAIshares Tr	0.9%	0.9%	278,220	+0.5%	$26.9M
PGProcter & Gamble Co	0.8%	0.9%	167,289	+2.3%	$24.9M
BNDVanguard Bd Index Fds	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
SCHBSchwab Strategic Tr	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 Index Fds	0.6%	0.6%	84,960	+2.6%	$18.6M
IVWIshares Tr	0.6%	0.5%	126,764	+0.1%	$17.4M
CATCaterpillar Inc	0.5%	0.4%	16,554	-0.5%	$17.1M
VBVanguard Index Fds	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	0.5%	0.6%	27,975	-7.3%	$16.1M
AVGOBroadcom Inc	0.5%	0.5%	42,684	+2.4%	$16.1M
FSCCFederated Hermes ETF Trust	0.5%	—	435,082	—	$16.0M
LLYEli Lilly & Co	0.5%	—	13,329	—	$16.0M
AGGIshares Tr	0.5%	0.6%	159,599	-2.4%	$15.8M
VCLTVanguard Long-Term Corporate Bond ETF	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	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 Ftse Developed Markets Index Fu+14.0% shares
VB Vanguard Index Fds+8.9% shares
SPLG Spdr Series Trust+7.8% shares
BND Vanguard Bd Index Fds+7.4% shares
NVDA Nvidia Corporation+7.0% shares

Reduced

Left the top 50

XOM Exxon Mobil Corpwas 0.5%
WMT Walmart Incwas 0.5%
AMJB Jpmorgan Chase Finl Co LLCwas 0.4%
COST Costco Wholesale Corporationwas 0.4%

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, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 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%, State Street Spdr Portfolio S&p 500 Valu (SPYV) at 3.7%, American Centy ETF Tr (AVEM) at 3.2% and State Street Spdr Portfolio S&p 500 Grow (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 Wholesale Corporation (COST), Vanguard Index Fds (VOO) (-7.8% shares), Meta Platforms Inc (META) (-7.3% shares) and Schwab Strategic Tr (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.