NICOLET BANKSHARES INC NIC
COM · Common Stock · CUSIP 65406E102
U.S. regional bank holding company
- SectorFinancials
- IndustryNational Commercial Banks
- HeadquartersGreen Bay, WI
- Founded2000
- Websiteinvestors.nicoletbank.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($6.8m this quarter). Holder counts are more reliable. Shares outstanding: 21.0m as of 2026-07-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $164.99. Options: 3 managers hold calls ($6.7m notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 124 |
| Q4 2022 | 129 |
| Q1 2023 | 120 |
| Q2 2023 | 114 |
| Q3 2023 | 116 |
| Q4 2023 | 119 |
| Q1 2024 | 124 |
| Q2 2024 | 121 |
| Q3 2024 | 141 |
| Q4 2024 | 152 |
| Q1 2025 | 158 |
| Q2 2025 | 165 |
| Q3 2025 | 180 |
| Q4 2025 | 196 |
| Q1 2026 | 239 |
| Q2 2026 | 254 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 66 | 48 |
| Q4 2024 | 89 | 38 |
| Q1 2025 | 66 | 67 |
| Q2 2025 | 72 | 75 |
| Q3 2025 | 86 | 70 |
| Q4 2025 | 102 | 76 |
| Q1 2026 | 171 | 70 |
| Q2 2026 | 130 | 115 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $4.6m | $430.4k | 0.09 |
| Q4 2025 | $3.2m | $0 | 0.00 |
| Q1 2026 | $5.4m | $0 | 0.00 |
| Q2 2026 | $6.7m | $0 | 0.00 |
Biggest buyers
| BlackRock, Inc. | Added | +1.4m |
| STATE STREET CORP | Added | +463.2k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +211.4k |
| GOLDMAN SACHS GROUP INC | Added | +113.1k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +96.4k |
| MORGAN STANLEY | Added | +79.9k |
| Public Sector Pension Investment Board | New | +67.2k |
| Bank of New York Mellon Corp | Added | +53.3k |
| ALLIANCEBERNSTEIN L.P. | Added | +52.0k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +47.8k |
Biggest sellers
| FIRST TRUST ADVISORS LP | Reduced | -118.0k |
| WELLINGTON MANAGEMENT GROUP LLP | Sold out | -94.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -65.3k |
| D. E. Shaw & Co., Inc. | Reduced | -62.9k |
| PRUDENTIAL FINANCIAL INC | Reduced | -53.1k |
| JENNISON ASSOCIATES LLC | Reduced | -41.0k |
| FMR LLC | Reduced | -36.2k |
| WESTWOOD HOLDINGS GROUP INC | Reduced | -36.1k |
| MENDON CAPITAL ADVISORS CORP | Reduced | -35.0k |
| JPMORGAN CHASE & CO | Reduced | -32.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.9m17.5k shares |
| JANE STREET GROUP, LLC | Reduced | $2.6m15.8k shares |
| CITADEL ADVISORS LLC | Reduced | $1.2m7.2k shares |
Biggest puts
| None |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-07-08 | 13.0% |
| STATE STREET CORP 13G · institution new · filed 2026-08-07 | 5.5% |
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 4 | $28.6m | — |
| Q1 2025 | 0 | — | 2 | $996.7k | — |
| Q2 2025 | 0 | — | 2 | $1.9m | — |
| Q3 2025 | 0 | — | 2 | $2.1m | — |
| Q4 2025 | 3 | $390.8k | 0 | — | — |
| Q1 2026 | 0 | — | 1 | $2.0m | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 2 | $716.0k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-07-28 | Witczak Eric James EVP - Retail & Ag Banking | Sold | $58.8k342 shares |
| 2026-07-27 | Witczak Eric James EVP - Retail & Ag Banking | Sold | $204.0k1.2k shares |
| 2026-07-24 | ATWELL ROBERT BRUCE Director | Sold | $453.2k2.7k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 3.0m $500.7m | Added +1.4m |
| STATE STREET CORP 0.01% of their portfolio | 1.2m $194.2m | Added +463.2k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 823.9k $136.3m | Added +4.6k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 818.1k $135.3m | Reduced -1.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 504.7k $83.5m | Added +47.8k |
| WESTWOOD HOLDINGS GROUP INC 0.56% of their portfolio | 450.7k $74.5m | Reduced -36.1k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 392.8k $65.0m | Added +113.1k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 361.3k $59.7m | Added +36.6k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 358.1k $59.2m | Added +211.4k |
| Boston Partners 0.05% of their portfolio | 311.3k $51.5m | Added +5.9k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 307.2k $45.7m | Added +52.0k |
| FJ Capital Management LLC 5.95% of their portfolio | 277.2k $45.9m | Reduced -29.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 240.6k $39.8m | Added +37.0k |
| Invesco Ltd. 0.00% of their portfolio | 215.7k $35.7m | Added +11.7k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.21% of their portfolio | 198.4k $32.8m | Reduced -13.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 186.8k $30.9m | Reduced -17.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 176.4k $29.2m | Added +18.7k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 172.9k $28.6m | Reduced -41.0k |
| MORGAN STANLEY 0.00% of their portfolio | 159.7k $26.4m | Added +79.9k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 144.1k $23.8m | Reduced -118.0k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 139.4k $23.1m | Added +53.3k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 132.4k $21.9m | Added +5.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 124.4k $20.6m | Added +96.4k |
| Champlain Investment Partners, LLC 0.44% of their portfolio | 103.8k $17.2m | Reduced -21.7k |
| OBERWEIS ASSET MANAGEMENT INC/ 0.28% of their portfolio | 83.2k $13.8m | Added +8.4k |
| Jupiter Topco LLC 0.00% of their portfolio | 72.7k $12.0m | First filing |
| Public Sector Pension Investment Board 0.03% of their portfolio | 67.2k $11.1m | New |
| MALTESE CAPITAL MANAGEMENT LLC 1.81% of their portfolio | 60.0k $9.9m | Added +1.4k |
| Stieven Capital Advisors, L.P. 1.77% of their portfolio | 56.0k $9.3m | Added +3.2k |
| HEARTLAND ADVISORS INC 0.41% of their portfolio | 55.8k $9.2m | Unchanged |
| Nuveen, LLC 0.00% of their portfolio | 52.5k $8.7m | Added +6.3k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 47.6k $7.9m | Added +22.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 46.9k $7.8m | Reduced -32.3k |
| Merit Financial Group, LLC 0.05% of their portfolio | 46.9k $7.7m | Reduced -175 |
| Legal & General Group Plc 0.00% of their portfolio | 46.2k $7.6m | Added +31.7k |
| Curi Capital, LLC 0.11% of their portfolio | 42.8k $7.1m | Reduced -30.0k |
| MENDON CAPITAL ADVISORS CORP 2.34% of their portfolio | 40.0k $6.6m | Reduced -35.0k |
| Swiss National Bank 0.00% of their portfolio | 39.7k $6.6m | Reduced -600 |
| Creative Planning 0.00% of their portfolio | 39.7k $6.6m | Reduced -1.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 38.8k $6.4m | Added +1.5k |
| N.E.W. Advisory Services LLC 0.43% of their portfolio | 38.6k $6.4m | Reduced -509 |
| SEI INVESTMENTS CO 0.01% of their portfolio | 37.9k $6.3m | Reduced -6.6k |
| NORTH STAR ASSET MANAGEMENT INC 0.25% of their portfolio | 37.7k $6.2m | Reduced -595 |
| UBS Group AG 0.00% of their portfolio | 36.5k $6.0m | Reduced -31.1k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 36.3k $6.0m | Reduced -53.1k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 35.8k $5.9m | Reduced -1.0k |
| ADVISORY RESEARCH INC 0.58% of their portfolio | 35.4k $5.9m | Reduced -729 |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 32.8k $5.4m | New |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 30.6k $5.1m | Reduced -2.7k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.32% of their portfolio | 30.3k $5.0m | Reduced -9.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 30.2k $5.0m | Reduced -368 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 29.9k $5.0m | Added +28.6k |
| BARCLAYS PLC 0.00% of their portfolio | 29.4k $4.9m | Reduced -19.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 29.1k $4.8m | Reduced -2.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 27.7k $4.6m | Added +5.2k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio | 27.3k $4.5m | Added +6.5k |
| CITIGROUP INC 0.00% of their portfolio | 24.9k $4.1m | Added +9.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 24.7k $4.1m | Reduced -601 |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 24.4k $4.0m | Added +1.4k |
| BESSEMER GROUP INC 0.01% of their portfolio | 24.3k $4.0m | Reduced -1.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 22.9k $3.8m | Reduced -11.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 22.6k $3.7m | Added +10.2k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 22.3k $3.7m | Added +99 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 21.0k $3.5m | Added +4.4k |
| ANCHOR CAPITAL ADVISORS LLC 0.10% of their portfolio | 20.9k $3.5m | Reduced -336 |
| Odyssean, LLC 0.54% of their portfolio | 20.0k $3.3m | Added +10.1k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 19.2k $3.2m | Reduced -69 |
| Legacy Private Trust Co. 0.17% of their portfolio | 18.9k $3.1m | Reduced -125 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 18.7k $3.1m | Added +93 |
| Quantinno Capital Management LP 0.00% of their portfolio | 18.3k $3.0m | Reduced -10.4k |
| Squarepoint Ops LLC 0.01% of their portfolio | 17.0k $2.8m | Added +119 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 16.8k $2.8m | Added +3.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 16.8k $2.8m | Reduced -1.9k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 15.8k $2.6m | Added +13.7k |
| Rafferty Asset Management, LLC 0.01% of their portfolio | 15.1k $2.5m | Added +1.4k |
| FIRST NATIONAL BANK OF OMAHA 0.07% of their portfolio | 14.7k $2.4m | Added +2.3k |
| Sugar Maple Asset Management, LLC 1.54% of their portfolio | 14.5k $2.4m | Added +545 |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 14.4k $2.4m | Unchanged |
| First National Advisers, LLC 0.31% of their portfolio | 13.2k $2.2m | Added +2.3k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 12.8k $2.1m | New |
| Caldwell Trust Co 0.17% of their portfolio | 12.6k $2.1m | Unchanged |
| Atom Investors LP 0.18% of their portfolio | 12.4k $2.1m | Reduced -7.5k |
| FMR LLC 0.00% of their portfolio | 12.2k $2.0m | Reduced -36.2k |
| Jump Financial, LLC 0.02% of their portfolio | 12.2k $2.0m | New |
| MetLife Investment Management, LLC 0.01% of their portfolio | 11.6k $1.9m | Added +1.5k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 11.6k $1.9m | Added +2.1k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 11.1k $1.8m | New |
| Associated Banc-Corp 0.04% of their portfolio | 10.3k $1.7m | Unchanged |
| Dana Investment Advisors, Inc. 0.04% of their portfolio | 10.0k $1.7m | Unchanged |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio | 10.0k $1.6m | Reduced -866 |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 9.7k $1.6m | Reduced -62.9k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 9.6k $1.6m | Added +7.6k |
| State of Alaska, Department of Revenue 0.02% of their portfolio | 9.5k $1.6m | Added +6.4k |
| Cresset Asset Management, LLC 0.01% of their portfolio | 9.3k $1.5m | Reduced -11 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 9.2k $1.5m | Added +554 |
| XTX Topco Ltd 0.02% of their portfolio | 9.2k $1.5m | Reduced -1.9k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 9.1k $1.5m | Reduced -403 |
| STEPH & CO 0.37% of their portfolio | 8.8k $1.5m | Unchanged |
| Louisiana State Employees Retirement System 0.02% of their portfolio | 8.6k $1.4m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 8.4k $1.4m | Added +6.2k |