Caterpillar Inc.
US ˙ NYSE ˙ US1491231015

SecurityCAT / Caterpillar Inc.
InstitutionNicolet Advisory Services, Llc
Latest Disclosed Ownership5,691 shares
Latest Disclosed Value $ 3,584,265
Nicolet Advisory Services, Llc reports 15.27% increase in ownership of CAT / Caterpillar Inc.

On February 13, 2026 - Nicolet Advisory Services, Llc filed a 13F-HR form disclosing ownership of 5,691 shares of Caterpillar Inc. (US:CAT) valued at $3,260,203 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 4,937 shares of Caterpillar Inc.. This represents a change in shares of 15.27% during the quarter. The current value of the position is $5,352,272 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-13 2025-12-31 13F CATERPILLAR COM 149123101 5,691 754 15.27 3,584 49.21 0.2414
2025-11-13 2025-09-30 13F CATERPILLAR COM 149123101 4,937 45 0.92 2,403 14.54 0.1869
2025-08-13 2025-06-30 13F CATERPILLAR COM 149123101 4,892 1,006 25.89 2,097 86.73 0.1784
2025-05-08 2025-03-31 13F CATERPILLAR COM 149123101 3,886 19 0.49 1,124 -17.24 0.1115
2025-02-12 2024-12-31 13F CATERPILLAR COM 149123101 3,867 -25 -0.64 1,357 -10.84 0.1247
2024-11-12 2024-09-30 13F CATERPILLAR COM 149123101 3,892 -9 -0.23 1,522 18.81 0.1437
2024-08-14 2024-06-30 13F CATERPILLAR COM 149123101 3,901 51 1.32 1,281 -10.48 0.1228
2024-05-10 2024-03-31 13F CATERPILLAR COM 149123101 3,850 567 17.27 1,432 50.95 0.1454
2024-02-13 2023-12-31 13F CATERPILLAR COM 149123101 3,283 3 0.09 948 9.09 0.1020
2023-11-07 2023-09-30 13F CATERPILLAR COM 149123101 3,280 6 0.18 869 10.42 0.0963
2023-08-09 2023-06-30 13F CATERPILLAR COM 149123101 3,274 589 21.94 788 40.29 0.0864
2023-05-09 2023-03-31 13F CATERPILLAR COM 149123101 2,685 899 50.34 562 25.50 0.0647
2023-02-09 2022-12-31 13F CATERPILLAR COM 149123101 1,786 -5 -0.28 448 39.69 0.0592
2022-11-10 2022-09-30 13F CATERPILLAR COM 149123101 1,791 -33 -1.81 320 -2.74 0.0522
2022-08-08 2022-06-30 13F CATERPILLAR COM 149123101 1,824 -11 -0.60 329 -17.34 0.0488
2022-05-10 2022-03-31 13F CATERPILLAR COM 149123101 1,835 -15 -0.81 398 3.92 0.0520
2022-02-08 2021-12-31 13F CATERPILLAR COM 149123101 1,850 -464 -20.05 383 -14.32 0.0471
2021-11-16 2021-09-30 13F CATERPILLAR COM 149123101 2,314 536 30.15 447 15.50 0.0567
2021-08-11 2021-06-30 13F CATERPILLAR COM 149123101 1,778 -79 -4.25 387 -10.00 0.0505
2021-05-03 2021-03-31 13F CATERPILLAR COM 149123101 1,857 -182 -8.93 430 15.90 0.0603
2021-02-09 2020-12-31 13F CATERPILLAR COM 149123101 2,039 -177 -7.99 371 12.08 0.0520
2020-10-27 2020-09-30 13F CATERPILLAR INC DEL COM 149123101 2,216 -1,373 -38.26 331 -27.09 0.0514
2020-08-14 2020-06-30 13F CATERPILLAR INC DEL COM 149123101 3,589 -13 -0.36 454 8.61 0.0698
2020-04-21 2020-03-31 13F CATERPILLAR INC DEL COM 149123101 3,602 1,537 74.43 418 37.05 0.0736
2020-01-23 2019-12-31 13F CATERPILLAR INC DEL COM 149123101 2,065 60 2.99 305 20.55 0.0479
2019-10-22 2019-09-30 13F CATERPILLAR INC DEL COM 149123101 2,005 349 21.07 253 11.95 0.0384
2019-07-26 2019-06-30 13F CATERPILLAR INC DEL COM 149123101 1,656 1,656 226 0.0345
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.