NICOLET BANKSHARES INC Q4 2025 Filing

Filed February 9, 2026

Portfolio Value

$624.0M

Holdings

226

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (226 positions)

#	Stock	Shares	Value	% Portfolio
1	NICNICOLET BANKSHARES INC	883,159	$107.1M	17.17%
2	SPYMSTATE STREET SPDR PORTFOLIO S&P 500 ETF	500,712	$40.2M	6.44%
3	SPYVSTATE STREET SPDR PORTFOLIO S&P 500 VALUE ETF	706,930	$40.2M	6.44%
4	VOOVANGUARD S&P 500 ETF	49,029	$30.7M	4.93%
5	SPYGSTATE STREET SPDR S&P 500 GROWTH ETF	223,453	$23.8M	3.82%
6	AVEMAVANTIS EMERGING MARKETS EQUITY ETF	230,389	$17.7M	2.84%
7	AAPLAPPLE INC	59,427	$16.2M	2.59%
8	SPYSPDR S&P 500 ETF TRUST	19,996	$13.6M	2.19%
9	IVWISHARES S&P 500 BARRA GROWTH INDEX FUND	106,070	$13.1M	2.10%
10	MSFTMICROSOFT CORP	26,263	$12.7M	2.04%
11	VEAVANGUARD FTSE DEVELOPED MARKETS	197,735	$12.4M	1.98%
12	NVDANVIDIA CORP	60,623	$11.3M	1.81%
13	IVVISHARES CORE S&P 500 ETF	15,595	$10.7M	1.71%
14	VONEVANGUARD RUSSELL 1000 ETF	31,891	$9.9M	1.58%
15	AVREAVANTIS INVESTORS	190,247	$8.3M	1.33%
16	GOOGLALPHABET INC CAP STK CL A	23,915	$7.5M	1.20%
17	AMZNAMAZON.COM INC	27,408	$6.3M	1.01%
18	JPMJPMORGAN CHASE & CO	19,500	$6.3M	1.01%
19	EFAISHARES MSCI EAFE INDEX FD	63,912	$6.1M	0.98%
20	VTIVANGUARD TOTAL STOCK MARKET ETF	17,818	$6.0M	0.96%
21	AMLPALPS ETF TR ALERIAN MLP ETF NEW	125,324	$5.9M	0.94%
22	GOOGALPHABET INC CAP STK CL C	18,584	$5.8M	0.93%
23	IWFISHARES RUSSELL 1000 GROWTH INDEX FD	12,016	$5.7M	0.91%
24	IVEISHARES S&P 500/VALUE	26,794	$5.7M	0.91%
25	JPMJPM ALERIAN MLP INDEX ETN 1/28/2044	143,292	$4.3M	0.69%
26	COSTCOSTCO WHOLESALE CORP	4,924	$4.2M	0.68%
27	METAMETA PLATFORMS INC CL A	6,293	$4.2M	0.67%
28	VTVVANGUARD VALUE ETF	19,454	$3.7M	0.60%
29	VOVANGUARD MID-CAP ETF	11,692	$3.4M	0.54%
30	CWISPDR INDEX SHS FDS	92,071	$3.3M	0.53%
31	MAMASTERCARD INC	5,385	$3.1M	0.49%
32	XOMEXXON MOBIL CORP	24,462	$2.9M	0.47%
33	DFACDIMENSIONAL ETF TRUST US CORE EQUITY 2	71,746	$2.8M	0.46%
34	VUGVANGUARD GROWTH ETF	5,794	$2.8M	0.45%
35	VOEVANGUARD MID-CAP VALUE INDEX	15,790	$2.8M	0.45%
36	BRK/BBERKSHIRE HATHAWAY INC DEL CL B NEW	5,457	$2.7M	0.44%
37	IWDISHARES RUSSELL 1000 VALUE INDEX FUND	12,122	$2.5M	0.41%
38	ABTABBOTT LABS	20,059	$2.5M	0.40%
39	CATCATERPILLAR INC	4,370	$2.5M	0.40%
40	PGPROCTER & GAMBLE CO	16,916	$2.4M	0.39%
41	VVVANGUARD LARGE-CAP ETF	7,527	$2.4M	0.38%
42	VXUSVANGUARD TOTAL INTL STOCK INDEX FD ETF SHS	31,064	$2.3M	0.38%
43	IWMISHARES RUSSELL 2000 INDEX FD	9,510	$2.3M	0.38%
44	JNJJOHNSON & JOHNSON	11,283	$2.3M	0.37%
45	HDHOME DEPOT INC	6,565	$2.3M	0.36%
46	KOCOCA COLA CO	32,112	$2.2M	0.36%
47	IJHISHARES CORE S&P MID-CAP ETF	33,399	$2.2M	0.35%
48	WMTWALMART INC	19,231	$2.1M	0.34%
49	ORCLORACLE CORPORATION	10,713	$2.1M	0.33%
50	TJXTJX COS INC	13,022	$2.0M	0.32%
51	NDQINVESCO QQQ TR UNIT SER 1	3,176	$2.0M	0.31%
52	MCDMCDONALDS CORP	6,092	$1.9M	0.30%
53	ETNEATON CORP PLC SHS	5,763	$1.8M	0.29%
54	WECWEC ENERGY GROUP INC	16,674	$1.8M	0.28%
55	RTXRTX CORPORATION	9,309	$1.7M	0.27%
56	ADIANALOG DEVICES INC	6,275	$1.7M	0.27%
57	BNDVANGUARD TOTAL BOND MARKET ETF	22,937	$1.7M	0.27%
58	DEDEERE & CO	3,601	$1.7M	0.27%
59	VBVANGUARD SMALL-CAP ETF	6,498	$1.7M	0.27%
60	SNDRSCHNEIDER NATIONAL INC	62,949	$1.7M	0.27%
61	WFCWELLS FARGO & COMPANY	17,880	$1.7M	0.27%
62	AVGOBROADCOM INC	4,789	$1.7M	0.27%
63	PANWPALO ALTO NETWORKS INC	8,910	$1.6M	0.26%
64	CVXCHEVRON CORPORATION	10,746	$1.6M	0.26%
65	LRCXLAM RESEARCH CORP	9,265	$1.6M	0.25%
66	AMDADVANCED MICRO DEVICES INC	7,246	$1.6M	0.25%
67	GDGENERAL DYNAMICS CORP	4,570	$1.5M	0.25%
68	INTUINTUIT	2,294	$1.5M	0.24%
69	CSCOCISCO SYSTEMS INC	19,546	$1.5M	0.24%
70	SPTMSPDR PORTFOLIO S&P 1500 COMPOSITE STOCK MARKET ETF	17,456	$1.4M	0.23%
71	CRMSALESFORCE, INC.	5,412	$1.4M	0.23%
72	LLYLILLY (ELI) & CO	1,316	$1.4M	0.23%
73	UITBVICTORYSHARES CORE INTERMEDIATE BOND ETF	29,476	$1.4M	0.22%
74	VGTVANGUARD INFORMATION TECHNOLOGY ETF	1,849	$1.4M	0.22%
75	ABBVABBVIE INC	5,869	$1.3M	0.21%
76	VVISA INC CL A	3,754	$1.3M	0.21%
77	ABGCENCORA, INC.	3,821	$1.3M	0.21%
78	AGGISHARES CORE U.S. AGGREGATE	12,671	$1.3M	0.20%
79	SCHWSCHWAB CHARLES CORP	12,658	$1.3M	0.20%
80	VOOGVANGUARD S&P 500 GROWTH INDX ETF	2,841	$1.3M	0.20%
81	NSCNORFOLK SOUTHN CORP	4,322	$1.2M	0.20%
82	LOWLOWES COS INC	5,167	$1.2M	0.20%
83	VXFVANGUARD INDEX FDS	5,804	$1.2M	0.19%
84	YLDPRINCIPAL ACTIVE HIGH YIELD ETF	63,107	$1.2M	0.19%
85	GUNRFLEXSHARES MSTAR GBL UPSTRM ETF	25,409	$1.2M	0.19%
86	PFEPFIZER INC	46,404	$1.2M	0.19%
87	ADBEADOBE SYS INC	3,272	$1.1M	0.18%
88	IWBISHARES RUSSELL 1000	3,025	$1.1M	0.18%
89	NEENEXTERA ENERGY INC	13,947	$1.1M	0.18%
90	IBMINTERNATIONAL BUSINESS MACHS	3,725	$1.1M	0.18%
91	BFCBANK FIRST CORPORATION	8,914	$1.1M	0.17%
92	EMREMERSON ELEC CO	8,019	$1.1M	0.17%
93	PEPPEPSICO INC	7,366	$1.1M	0.17%
94	IWSISHARES RUSSELL MIDCAP VALUE INDEX FD	7,292	$1.0M	0.16%
95	DHRDANAHER CORP	4,351	$996K	0.16%
96	TMOTHERMO FISHER SCIENTIFIC INC	1,713	$992K	0.16%
97	GSGOLDMAN SACHS GROUP	1,122	$986K	0.16%
98	ICEINTERCONTINENTAL EXCHANGE, INC	6,037	$977K	0.16%
99	DISDISNEY WALT CO	8,565	$974K	0.16%
100	AVDEAMERICAN CENTY ETF TR	11,765	$968K	0.16%

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