Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Nicolet Bankshares Inc (NIC)

232 + Investors. Track Smart Money conviction in NIC. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +39
Streak
11Q ▲
Buyers last Q
71%

Smart Money Signals — NIC

Based on 232 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 11 quarters in a row

last 6Q
For 11 consecutive quarters, more hedge funds added NIC than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
232 hedge funds hold NIC right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +46% more funds vs a year ago

fund count last 6Q
+73 new funds entered over the past year (+46% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 71% buying

172 buying70 selling
Last quarter: 172 funds were net buyers (68 opened a brand new position + 104 added to an existing one). Only 70 were sellers (41 trimmed + 29 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+32 vs last Q)

new funds entering per quarter
Funds opening a new NIC position: 21 → 33 → 36 → 68. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

44% of holders stayed for 2+ years

■ 44% conviction (2yr+) ■ 22% medium ■ 35% new
101 out of 232 hedge funds have held NIC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +49% but shares only +23% — price-driven

Value
+49%
Shares
+23%
Last quarter: the total dollar value of institutional holdings rose +49%, but actual share count only changed +23%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

24 → 21 → 33 → 36 → 68 new funds/Q
New funds entering each quarter: 21 → 33 → 36 → 68. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Deep conviction — 51% of holders stayed 2+ years

■ 51% veterans ■ 9% 1-2yr ■ 40% new
Of 235 current holders: 121 (51%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 53% AUM from top-100 funds

53% from top-100 AUM funds
48 of 232 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in NIC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NIC

In 2026 Q1, 172 hedge funds were net buyers of NIC (68 opened a new position, 104 added to an existing one), while 70 reduced or exited (41 trimmed, 29 sold completely) — a 71% buyer ratio, indicating clear institutional accumulation. This marks 11 consecutive quarters of net institutional buying — a persistent conviction signal. 53% of total institutional value in NIC is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +39 funds (more new holders than closures). Total institutional holders: 232.

Hedge Fund Ownership: NIC

How many hedge funds hold NIC — quarterly history vs. share price
Quarterly hedge fund ownership of NIC vs. share price

Market Analysis: NIC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NIC

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Nicolet Bankshares Inc (NIC) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NIC has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
NIC
-1.1%
XLF
+1220.3%

NIC outperformed XLF by -1221.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
NIC
+7.4%
XLF
+4.8%

Since the filing became public, NIC outperformed XLF by +2.6% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

18 top-rated funds 0 high-conviction
Consensus
5.6
/ 10
breadth
×
Elite
1.0
/ 10
conviction
Hedge Fund Positioning: NIC
232 + Investors

Track Smart Money conviction in NIC. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 232 193 20.21%
13F Shares 10M 8M 23.07%
Total Value $1.48B $991M 49.19%
New Positions 68 36 +32
Increased Positions 102 71 +31
Closed Positions 29 24 +5
Reduced Positions 40 60 -20
Total Calls 3 3 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: NIC

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

232 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NIC. Verified SEC 13F-HR filings.

QUARTER:
Top 25 NIC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 FJ Capital Management LLC 5.13% 306,381 $45.5M
2 Mendon Capital Advisors Corp 4.32% 74,988 $11.1M
3 Maltese Capital Management LLC 1.72% 58,648 $8.7M
4 Stieven Capital Advisors, L.P. 1.68% 52,805 $7.8M
5 Sugar Maple Asset Management, LLC 1.25% 13,912 $2.1M
6 Advisory Research Inc 0.66% 36,163 $5.4M
7 Odyssean, LLC 0.54% 9,956 $1.5M
8 Dark Forest Capital Management LP 0.53% 40,155 $6.0M
9 VARCOV Co. 0.53% 9,554 $1.4M
10 Westwood Holdings Group Inc 0.53% 486,751 $72.3M
11 Angel Oak Capital Advisors, LLC 0.50% 3,000 $446K
12 N.E.W. Advisory Services LLC 0.43% 39,075 $5.8M
13 Heartland Advisors Inc 0.42% 55,758 $8.3M
14 Sippican Capital Advisors 0.38% 3,727 $554K
15 Steph & Co 0.37% 8,840 $1.3M
16 Oberweis Asset Management Inc/ 0.33% 74,800 $11.1M
17 North Star Asset Management Inc 0.25% 38,270 $5.7M
18 First National Advisers, LLC 0.24% 10,912 $1.6M
19 Champlain Investment Partners, LLC 0.24% 125,512 $18.7M
20 Silvercrest Asset Management Group LLC 0.23% 211,452 $31.4M
21 Atom Investors LP 0.21% 19,903 $3.0M
22 Curi Capital, LLC 0.19% 72,830 $10.8M
23 Peregrine Capital Management LLC 0.18% 33,230 $4.9M
24 Ellsworth Advisors, LLC 0.18% 6,377 $948K
25 Legacy Private Trust Co. 0.17% 18,982 $2.8M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Nicolet Bankshares Inc (NIC)

What does the Smart Money Trend signal show for NIC?

Buying streak — 11 quarters in a row: For 11 consecutive quarters, more hedge funds added NIC than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NIC?

More buyers than sellers — 71% buying: Last quarter: 172 funds were net buyers (68 opened a brand new position + 104 added to an existing one). Only 70 were sellers (41 trimmed + 29 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for NIC holders?

Elite ownership — 53% AUM from top-100 funds: 48 of 232 holders are among the 100 largest funds by AUM, controlling 53% of total institutional value in NIC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NIC?

44% of holders stayed for 2+ years: 101 out of 232 hedge funds have held NIC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Nicolet Bankshares Inc (NIC) following the 2026 Q1 hedge fund 13F filings?

As of today, NIC has moved +7.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of +2.6%. Since the quarter end (March 31, 2026), NIC has gained -1.1% vs +1220.3% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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