Ryan Specialty Holdings, Inc.
US ˙ NYSE ˙ US78351F1075

SecurityRYAN / Ryan Specialty Holdings, Inc.
InstitutionNicolet Advisory Services, Llc
Latest Disclosed Ownership11,911 shares
Latest Disclosed Value $ 604,483
Nicolet Advisory Services, Llc reports 3.26% decrease in ownership of RYAN / Ryan Specialty Holdings, Inc.

On February 13, 2026 - Nicolet Advisory Services, Llc filed a 13F-HR form disclosing ownership of 11,911 shares of Ryan Specialty Holdings, Inc. (US:RYAN) valued at $614,965 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 12,312 shares of Ryan Specialty Holdings, Inc.. This represents a change in shares of -3.26% during the quarter. The current value of the position is $367,573 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 RYAN SPECIALTY HOLDINGS CL A 78351F107 11,911 -401 -3.26 604 -15.64 0.0407
2025-11-13 2025-09-30 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 12,312 2,179 21.50 717 22.18 0.0558
2025-08-13 2025-06-30 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 10,133 -1,306 -11.42 586 -28.80 0.0499
2025-05-08 2025-03-31 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 11,439 138 1.22 823 16.57 0.0816
2025-02-12 2024-12-31 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 11,301 963 9.32 706 -2.75 0.0649
2024-11-12 2024-09-30 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 10,338 600 6.16 727 32.97 0.0686
2024-08-14 2024-06-30 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 9,738 1,858 23.58 547 32.85 0.0524
2024-05-10 2024-03-31 13F RYAN SPECIALTY HOLDINGS CL A 78351F107 7,880 7,880 412 0.0418
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.