NI
Nicollet Investment Management, Inc. 13F Holdings & Recent Stock Buys (Q2 2026)
Nicollet Investment Management, Inc.CIK: 0001729048
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$323.9M
Reporting period: 2026-06-30 · Number of holdings: 77
Nicollet Investment Management, Inc. disclosed 77 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $323.9M and a quarterly turnover rate of 15.2%.
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Personality snowflake
- Concentration
- 12.87
- Portfolio Stability
- 15.21
- Momentum
- 100
- Sector conviction
- 47.03
- Diversification
- 100
- Sizing Uniformity
- 87.76
Nicollet Investment Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 equally-sized positions, well below its 77 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.22), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd PANW
+1.8% $2.9M
Add GOOGL
+1.1% $3.4M
Add GOOG
-2.7% $3.6M
Trim META
-0.1% -$205.0K
Trim MSFT
+0.5% $202.0K
Add GWW
+1.1% $2.5M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 7.07% | +0.24% | +0.30% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.65% | +0.50% | -2.67% | |
| 3 | AAPL | Apple Inc | Stock-Tech | 6.55% | +0.22% | +0.56% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 5.16% | +0.60% | +1.13% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 5.06% | -0.49% | +0.48% | |
| 6 | NVDA | Nvidia CORP | Stock-Tech | 4.12% | +0.14% | +0.06% | |
| 7 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.79% | -0.49% | -0.10% | |
| 8 | GWW | Ww Grainger Inc | Stock-Industrials | 3.69% | +0.44% | +1.06% | |
| 9 | V | Visa Inc-class A Shares | Stock-Financials | 3.63% | +0.09% | +0.32% | |
| 10 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 2.88% | +0.07% | +2.55% | |
| 11 | SCHX | Schwab US Large-cap ETF | ETF-Other | 2.66% | +0.09% | — | |
| 12 | IWL | Ishares Russell Top 200 ETF | ETF-Other | 2.32% | +0.10% | +0.86% | |
| 13 | EQIX | Equinix Inc | Stock-Real Estate | 2.24% | -0.40% | -11.54% | |
| 14 | MMM | 3m Co | Stock-Industrials | 1.91% | +0.02% | +0.60% | |
| 15 | MDY | State Street Spdr S&p Midcap | ETF-Other | 1.75% | +0.10% | +2.94% | |
| 16 | ECL | Ecolab Inc | Stock-Materials | 1.69% | -0.09% | +0.33% | |
| 17 | ORCL | Oracle CORP | Stock-Tech | 1.67% | -0.19% | -0.13% | |
| 18 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.66% | +0.81% | +1.75% | |
| 19 | SLB | Slb LTD | Stock-Energy | 1.64% | -0.37% | +0.15% | |
| 20 | UNP | Union Pacific CORP | Stock-Industrials | 1.61% | +0.07% | +3.21% | |
| 21 | RMD | Resmed Inc | Stock-Healthcare | 1.51% | -0.40% | +1.29% | |
| 22 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 1.47% | -0.23% | +1.33% | |
| 23 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.47% | -0.06% | -0.66% | |
| 24 | GS | Goldman Sachs Group Inc | Stock-Financials | 1.42% | +0.12% | +1.32% | |
| 25 | UBER | Uber Technologies Inc | Stock-Industrials | 1.41% | -0.15% | -0.01% | |
| 26 | CB | Chubb Limited | Stock-Financials | 1.33% | -0.08% | +0.45% | |
| 27 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 1.32% | +0.09% | -0.75% | |
| 28 | FAST | Fastenal Co | Stock-Industrials | 1.13% | -0.04% | +2.72% | |
| 29 | UTHR | United Therapeutics CORP | Stock-Healthcare | 0.97% | -0.19% | +1.58% | |
| 30 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.96% | +0.27% | -0.20% | |
| 31 | VMI | Valmont Industries | Stock-Industrials | 0.90% | +0.22% | +1.95% | |
| 32 | EOG | Eog Resources Inc | Stock-Energy | 0.88% | -0.21% | +0.16% | |
| 33 | HD | Home Depot Inc | Stock-Consumer Disc | 0.86% | -0.03% | +0.01% | |
| 34 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.86% | -0.07% | +0.51% | |
| 35 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.77% | +0.03% | +0.57% | |
| 36 | AKAM | Akamai Technologies Inc | Stock-Tech | 0.73% | -0.04% | +2.67% | |
| 37 | SYY | Sysco CORP | Stock-Consumer Staples | 0.72% | +0.06% | +2.52% | |
| 38 | ALKS | Alkermes plc | Stock-Healthcare | 0.72% | +0.20% | +2.12% | |
| 39 | GNRC | Generac Holdings Inc | Stock-Industrials | 0.69% | +0.19% | +2.25% | |
| 40 | CRM | Salesforce Inc | Stock-Tech | 0.66% | -0.24% | -2.18% | |
| 41 | MRNA | Moderna Inc | Stock-Healthcare | 0.64% | +0.13% | +2.18% | |
| 42 | NOW | Servicenow Inc | Stock-Tech | 0.64% | -0.09% | +3.63% | |
| 43 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.63% | -0.40% | +0.45% | |
| 44 | LHX | L3harris Technologies Inc | Stock-Industrials | 0.61% | -0.17% | +3.49% | |
| 45 | NVO | Novo-nordisk A/s-spons Adr | Stock-Healthcare | 0.58% | +0.09% | -0.79% | |
| 46 | EXPD | Expeditors Intl Wash Inc | Stock-Industrials | 0.55% | +0.03% | +2.43% | |
| 47 | FFIV | F5 Inc | Stock-Tech | 0.54% | +0.13% | +2.12% | |
| 48 | IONS | Ionis Pharmaceuticals Inc | Stock-Healthcare | 0.50% | -0.01% | +3.02% | |
| 49 | ACN | Accenture plc | Stock-Tech | 0.48% | -0.37% | +0.69% | |
| 50 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.47% | +0.05% | — |
1–50 of 77
Portfolio Performance
Performance for Q3 2026
+3.1%
Performance Last 4 Quarters
+16%
- Stdev
- +13.4%
- Beta
- +0.99
- Alpha
- -3.1%
- Max Drawdown
- -11.2%
- Annualized Perf
- +17.1%
- Batting Avg vs S&P
- +30.6%
- Sortino
- +2.37
- Stutzer
- +0.37
- Treynor
- +0.17
- Sterling
- +0.98
- Calmar
- +1.53
- Information Ratio
- -0.82
- Tracking Error
- +3.9%
- Stdev Down
- +7.1%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +33.9%
- Worst 12 Months
- +7.6%
- Efficiency Ratio
- +0.5
- Sharpe
- +1.25
- Stdev Sectors
- +7.7%
- Skewness
- -0.01
- Kurtosis
- -0.02
- Upside Potential
- +4.04
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 77 | $323.9M | 15 | ||
| 2026 Q1 | 76 | $292.0M | 17 | ||
| 2025 Q4 | 74 | $316.0M | 19 | ||
| 2025 Q3 | 71 | $306.6M | 20 | ||
| 2025 Q2 | 73 | $298.6M | 0 | ||
| 2025 Q1 | 70 | $284.5M | 100 | ||
| 2024 Q4 | 71 | $291.2M | 0 | ||
| 2024 Q3 | 70 | $289.3M | 0 | ||
| 2024 Q2 | 68 | $267.8M | 0 | ||
| 2024 Q1 | 68 | $271.0M | 0 | ||
| 2023 Q4 | 65 | $245.2M | 0 | ||
| 2023 Q3 | 62 | $223.4M | 0 | ||
| 2023 Q2 | 60 | $224.5M | 0 | ||
| 2023 Q1 | 59 | $192.3M | 0 | ||
| 2022 Q4 | 58 | $173.3M | 0 | ||
| 2022 Q3 | 57 | $182.9M | 0 | ||
| 2022 Q2 | 58 | $185.6M | 0 | ||
| 2022 Q1 | 60 | $225.2M | 0 | ||
| 2021 Q4 | 65 | $248.7M | 0 | ||
| 2021 Q3 | 65 | $237.6M | 0 | ||
| 2021 Q2 | 65 | $245.6M | 100 | ||
| 2021 Q1 | 67 | $228.2M | 9 | ||
| 2020 Q4 | 62 | $222.7M | 22 | ||
| 2020 Q3 | 58 | $197.5M | 11 | ||
| 2020 Q2 | 57 | $179.6M | 29 | ||
| 2020 Q1 | 55 | $134.9M | 47 | ||
| 2019 Q4 | 64 | $213.8M | 32 | ||
| 2019 Q3 | 66 | $157.8M | 11 | ||
| 2019 Q2 | 66 | $159.5M | 11 | ||
| 2019 Q1 | 66 | $152.0M | 23 | ||
| 2018 Q4 | 68 | $126.6M | 25 | ||
| 2018 Q3 | 67 | $153.5M | 12 | ||
| 2018 Q2 | 69 | $138.8M | 16 | ||
| 2018 Q1 | 68 | $129.0M | 13 | ||
| 2017 Q4 | 66 | $121.7M | — |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
Nicollet Investment Management, Inc.'s most significant position changes for 2026-06-30: Sold out: Coterra Energy Inc (CTRA); New buy: Devon Energy CORP (DVN); Sold out: Berkshire Hathaway Inc-cl B (BRK-B); New buy: Eli Lilly & Co (LLY); New buy: Ste Str Spdr Pt S&p 500 ETF (SPYM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PANW | Palo Alto Networks Inc | +0.8% | +1.75% | Add |
| 2 | GOOGL | Alphabet Inc-cl A | +0.6% | +1.13% | Add |
| 3 | GOOG | Alphabet Inc-cl C | +0.5% | -2.67% | Trim |
| 4 | GWW | Ww Grainger Inc | +0.4% | +1.06% | Add |
| 5 | DVN | Devon Energy CORP | +0.3% | NEW | New buy |
| 6 | UNH | Unitedhealth Group Inc | +0.3% | -0.20% | Trim |
| 7 | AMZN | Amazon.com Inc | +0.2% | +0.30% | Add |
| 8 | AAPL | Apple Inc | +0.2% | +0.56% | Add |
| 9 | VMI | Valmont Industries | +0.2% | +1.95% | Add |
| 10 | ALKS | Alkermes plc | +0.2% | +2.12% | Add |
| 11 | GNRC | Generac Holdings Inc | +0.2% | +2.25% | Add |
| 12 | NVDA | Nvidia CORP | +0.1% | +0.06% | Add |
| 13 | MRNA | Moderna Inc | +0.1% | +2.18% | Add |
| 14 | FFIV | F5 Inc | +0.1% | +2.12% | Add |
| 15 | GS | Goldman Sachs Group Inc | +0.1% | +1.32% | Add |
| 16 | IWL | Ishares Russell Top 200 ETF | +0.1% | +0.86% | Add |
| 17 | MDY | State Street Spdr S&p Midcap | +0.1% | +2.94% | Add |
| 18 | V | Visa Inc-class A Shares | +0.1% | +0.32% | Add |
| 19 | SCHX | Schwab US Large-cap ETF | +0.1% | — | Unchanged |
| 20 | SCHM | Schwab US Mid Cap ETF | +0.1% | -0.75% | Trim |
| 21 | NVO | Novo-nordisk A/s-spons Adr | +0.1% | -0.79% | Trim |
| 22 | KNX | Knight-swift Transportation | +0.1% | +2.21% | Add |
| 23 | LLY | Eli Lilly & Co | +0.1% | NEW | New buy |
| 24 | RSP | Invesco S&p 500 Equal Weight | +0.1% | +2.55% | Add |
| 25 | UNP | Union Pacific CORP | +0.1% | +3.21% | Add |
| 26 | SYY | Sysco CORP | +0.1% | +2.52% | Add |
| 27 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +0.1% | NEW | New buy |
| 28 | SCHA | Schwab US Small-cap ETF | +0.1% | — | Unchanged |
| 29 | SBUX | Starbucks CORP | 0% | +0.57% | Add |
| 30 | EXPD | Expeditors Intl Wash Inc | 0% | +2.43% | Add |
| 31 | MMM | 3m Co | 0% | +0.60% | Add |
| 32 | AVGO | Broadcom Inc | 0% | — | Unchanged |
| 33 | SMG | Scotts Miracle-gro Co | 0% | +3.28% | Add |
| 34 | SWKS | Skyworks Solutions Inc | 0% | +2.57% | Add |
| 35 | RDN | Radian Group Inc | 0% | +2.93% | Add |
| 36 | IVV | Ishares Core S&p 500 ETF | 0% | +0.27% | Add |
| 37 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | +0.07% | Add |
| 38 | LYFT | Lyft Inc-a | 0% | +5.48% | Add |
| 39 | IWM | Ishares Russell 2000 ETF | 0% | — | Unchanged |
| 40 | SOLV | Solventum CORP | 0% | -2.24% | Trim |
| 41 | IJR | Ishares Core S&p Small-cap E | 0% | — | Unchanged |
| 42 | IVW | Ishares S&p 500 Growth ETF | 0% | -3.61% | Trim |
| 43 | DINO | Hf Sinclair CORP | — | +2.76% | Add |
| 44 | VTI | Vanguard Total Stock Mkt ETF | — | — | Unchanged |
| 45 | IONS | Ionis Pharmaceuticals Inc | 0% | +3.02% | Add |
| 46 | MDT | Medtronic plc | 0% | — | Unchanged |
| 47 | COST | Costco Wholesale CORP | 0% | — | Unchanged |
| 48 | XEL | Xcel Energy Inc | 0% | — | Unchanged |
| 49 | HD | Home Depot Inc | 0% | +0.01% | Add |
| 50 | WPM | Wheaton Precious Metals CORP | 0% | — | Unchanged |
1–50 of 79
Filing History
FAQ
What is Nicollet Investment Management, Inc. and what type of investor is it?
Nicollet Investment Management, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $323.9M, spread across 77 disclosed positions.
What are Nicollet Investment Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Nicollet Investment Management, Inc.'s top holdings by market value are:
1. Amazon.com Inc (AMZN) — $22.9M (7.1%)
2. Alphabet Inc-cl C (GOOG) — $21.5M (6.7%)
3. Apple Inc (AAPL) — $21.2M (6.5%)
4. Alphabet Inc-cl A (GOOGL) — $16.7M (5.2%)
5. Microsoft CORP (MSFT) — $16.4M (5.1%)
What changes did Nicollet Investment Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Nicollet Investment Management, Inc. made 68 notable position adjustments: 3 new positions were initiated, 50 existing holdings were added to, 13 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Coterra Energy Inc (CTRA); New buy: Devon Energy CORP (DVN); Sold out: Berkshire Hathaway Inc-cl B (BRK-B); New buy: Eli Lilly & Co (LLY); New buy: Ste Str Spdr Pt S&p 500 ETF (SPYM)
What sectors does Nicollet Investment Management, Inc. focus on?
Nicollet Investment Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 26.3%
• Communication Services: 17.9%
• Industrials: 14.8%
• Consumer Discretionary: 12.2%
• Health Care: 9.2%
• Financials: 8.1%
Investment Profile
Nicollet Investment Management, Inc. returned an annualized 17.1% over the trailing 36 months — underperforming the S&P 500 by 3.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.99 (roughly in line with the market) and a 31% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
Its turnover score has risen from 0 to 15 over the past 4 quarters — a shift toward more active trading.
It has added to its GWW position over the past two quarters (+$2.9M, now $11.9M), while trimming META over the same stretch (-$2.8M, still holding $12.3M).
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Developer Access
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REST API
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