Who owns Nicolet Bankshares (NIC)
Which tracked institutional funds hold NIC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See NIC company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
82 tracked funds added or opened NIC while 45 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
NIC’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in NIC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 239 tracked filers holding NIC, 124 increased or opened the position and 124 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in NIC between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 14
- Jupiter Topco LLC$12M
- Public Sector Pension Investment Board$11M
- HSBC HOLDINGS PLC$5M
- Jump Financial, LLC$2M
- TWO SIGMA INVESTMENTS, LP$2M
- Louisiana State Employees Retirement System$1M
Full exits 19
- JANUS HENDERSON GROUP PLC$15M
- WELLINGTON MANAGEMENT GROUP LLP$14M
- JANE STREET GROUP, LLC$4M
- BESSEMER GROUP INC$4M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$4M
- JUPITER ASSET MANAGEMENT LTD$2M
Largest adds
- BlackRock, Inc.$259M
- STATE STREET CORP$89M
- VANGUARD PORTFOLIO MANAGEMENT LLC$37M
- GOLDMAN SACHS GROUP INC$23M
- Invesco Ltd.$20M
- PRINCIPAL FINANCIAL GROUP INC$16M
Largest trims
- FIRST TRUST ADVISORS LP$15M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$10M
- D. E. Shaw & Co., Inc.$9M
- PRUDENTIAL FINANCIAL INC$7M
- FMR LLC$5M
- MENDON CAPITAL ADVISORS CORP$5M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 3,027,246 | $501M | 23.7% | 2026-Q2 |
| STATE STREET CORP added | 1,174,560 | $194M | 9.2% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 823,902 | $136M | 6.5% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 818,051 | $135M | 6.4% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 504,741 | $83M | 4.0% | 2026-Q2 |
| WESTWOOD HOLDINGS GROUP INC trimmed | 450,659 | $75M | 3.5% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 392,808 | $65M | 3.1% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 361,263 | $60M | 2.8% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 358,093 | $59M | 2.8% | 2026-Q2 |
| Boston Partners added | 311,319 | $51M | 2.4% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 307,207 | $46M | 2.2% | 2026-Q2 |
| FJ Capital Management LLC trimmed | 277,243 | $46M | 2.2% | 2026-Q2 |
| NORTHERN TRUST CORP added | 240,562 | $40M | 1.9% | 2026-Q2 |
| Invesco Ltd. added | 215,666 | $36M | 1.7% | 2026-Q2 |
| SILVERCREST ASSET MANAGEMENT GROUP LLC trimmed | 198,353 | $33M | 1.6% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 186,808 | $31M | 1.5% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 176,441 | $29M | 1.4% | 2026-Q2 |
| JENNISON ASSOCIATES LLC trimmed | 172,925 | $29M | 1.4% | 2026-Q2 |
| MORGAN STANLEY added | 159,708 | $26M | 1.3% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 144,116 | $24M | 1.1% | 2026-Q2 |
| Bank of New York Mellon Corp added | 139,427 | $23M | 1.1% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 132,405 | $22M | 1.0% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 124,379 | $21M | 1.0% | 2026-Q2 |
| Champlain Investment Partners, LLC trimmed | 103,783 | $17M | 0.8% | 2026-Q2 |
| OBERWEIS ASSET MANAGEMENT INC/ added | 83,200 | $14M | 0.7% | 2026-Q2 |
| Jupiter Topco LLC new | 72,728 | $12M | 0.6% | 2026-Q2 |
| Public Sector Pension Investment Board new | 67,153 | $11M | 0.5% | 2026-Q2 |
| MALTESE CAPITAL MANAGEMENT LLC added | 60,000 | $10M | 0.5% | 2026-Q2 |
| Stieven Capital Advisors, L.P. added | 55,967 | $9M | 0.4% | 2026-Q2 |
| HEARTLAND ADVISORS INC | 55,758 | $9M | 0.4% | 2026-Q2 |
| Nuveen, LLC added | 52,521 | $9M | 0.4% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 47,649 | $8M | 0.4% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 46,927 | $8M | 0.4% | 2026-Q2 |
| Merit Financial Group, LLC trimmed | 46,857 | $8M | 0.4% | 2026-Q2 |
| Legal & General Group Plc added | 46,176 | $8M | 0.4% | 2026-Q2 |
| Curi Capital, LLC trimmed | 42,832 | $7M | 0.3% | 2026-Q2 |
| MENDON CAPITAL ADVISORS CORP trimmed | 40,000 | $7M | 0.3% | 2026-Q2 |
| Swiss National Bank trimmed | 39,700 | $7M | 0.3% | 2026-Q2 |
| Creative Planning trimmed | 39,691 | $7M | 0.3% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 38,761 | $6M | 0.3% | 2026-Q2 |
| N.E.W. Advisory Services LLC trimmed | 38,566 | $6M | 0.3% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 37,878 | $6M | 0.3% | 2026-Q2 |
| NORTH STAR ASSET MANAGEMENT INC trimmed | 37,675 | $6M | 0.3% | 2026-Q2 |
| UBS Group AG trimmed | 36,486 | $6M | 0.3% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC trimmed | 36,302 | $6M | 0.3% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 35,779 | $6M | 0.3% | 2026-Q2 |
| ADVISORY RESEARCH INC trimmed | 35,434 | $6M | 0.3% | 2026-Q2 |
| HSBC HOLDINGS PLC new | 32,830 | $5M | 0.3% | 2026-Q2 |
| PEREGRINE CAPITAL MANAGEMENT LLC trimmed | 30,565 | $5M | 0.2% | 2026-Q2 |
| DARK FOREST CAPITAL MANAGEMENT LP trimmed | 30,280 | $5M | 0.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 30,162 | $5M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 29,947 | $5M | 0.2% | 2026-Q2 |
| BARCLAYS PLC trimmed | 29,408 | $5M | 0.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 29,075 | $5M | 0.2% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 27,696 | $5M | 0.2% | 2026-Q2 |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC added | 27,277 | $4M | 0.2% | 2026-Q2 |
| CITIGROUP INC added | 24,882 | $4M | 0.2% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM trimmed | 24,743 | $4M | 0.2% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ added | 24,371 | $4M | 0.2% | 2026-Q2 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 22,863 | $4M | 0.2% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 22,633 | $4M | 0.2% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 22,296 | $4M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 21,049 | $3M | 0.2% | 2026-Q2 |
| ANCHOR CAPITAL ADVISORS LLC trimmed | 20,881 | $3M | 0.2% | 2026-Q2 |
| Odyssean, LLC added | 20,012 | $3M | 0.2% | 2026-Q2 |
| STIFEL FINANCIAL CORP trimmed | 19,162 | $3M | 0.2% | 2026-Q2 |
| Legacy Private Trust Co. trimmed | 18,857 | $3M | 0.1% | 2026-Q2 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO added | 18,704 | $3M | 0.1% | 2026-Q2 |
| Quantinno Capital Management LP trimmed | 18,338 | $3M | 0.1% | 2026-Q2 |
| Squarepoint Ops LLC added | 16,960 | $3M | 0.1% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 16,806 | $3M | 0.1% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 16,762 | $3M | 0.1% | 2026-Q2 |
| Rafferty Asset Management, LLC added | 15,079 | $2M | 0.1% | 2026-Q2 |
| FIRST NATIONAL BANK OF OMAHA added | 14,676 | $2M | 0.1% | 2026-Q2 |
| Sugar Maple Asset Management, LLC added | 14,457 | $2M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd | 14,361 | $2M | 0.1% | 2026-Q2 |
| First National Advisers, LLC added | 13,215 | $2M | 0.1% | 2026-Q2 |
| Caldwell Trust Co | 12,578 | $2M | 0.1% | 2026-Q2 |
| Atom Investors LP trimmed | 12,448 | $2M | 0.1% | 2026-Q2 |
| FMR LLC trimmed | 12,225 | $2M | 0.1% | 2026-Q2 |
| Jump Financial, LLC new | 12,203 | $2M | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC added | 11,631 | $2M | 0.1% | 2026-Q2 |
| MERCER GLOBAL ADVISORS INC /ADV added | 11,597 | $2M | 0.1% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 11,115 | $2M | 0.1% | 2026-Q2 |
| Associated Banc-Corp | 10,312 | $2M | 0.1% | 2026-Q2 |
| Dana Investment Advisors, Inc. | 10,000 | $2M | 0.1% | 2026-Q2 |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO trimmed | 9,975 | $2M | 0.1% | 2026-Q2 |
| D. E. Shaw & Co., Inc. trimmed | 9,664 | $2M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 9,641 | $2M | 0.1% | 2026-Q2 |
| Cresset Asset Management, LLC trimmed | 9,330 | $2M | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 9,204 | $2M | 0.1% | 2026-Q2 |
| XTX Topco Ltd trimmed | 9,167 | $2M | 0.1% | 2026-Q2 |
| PNC Financial Services Group, Inc. trimmed | 9,084 | $2M | 0.1% | 2026-Q2 |
| STEPH & CO | 8,840 | $1M | 0.1% | 2026-Q2 |
| Louisiana State Employees Retirement System new | 8,600 | $1M | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 8,385 | $1M | 0.1% | 2026-Q2 |
| CHOREO, LLC trimmed | 8,255 | $1M | 0.1% | 2026-Q2 |
| State of New Jersey Common Pension Fund D trimmed | 8,095 | $1M | 0.1% | 2026-Q2 |
| VARCOV Co. trimmed | 7,810 | $1M | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 7,625 | $1M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.