# Nicollet Investment Management, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1729048. Source: https://holderbook.com/funds/1729048-nicollet-investment-management-inc/

- Reported value: $323.9M
- Positions: 77
- Weight of the ten largest: 48.6%
- Filed: 2026-08-05

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $22.9M | 96,027 | 7.1% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $21.5M | 60,959 | 6.7% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $21.2M | 73,284 | 6.5% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $16.7M | 46,782 | 5.2% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $16.4M | 43,970 | 5.1% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $13.3M | 66,612 | 4.1% | 12 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $12.3M | 21,814 | 3.8% | 31 |
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $11.9M | 8,779 | 3.7% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $11.8M | 34,273 | 3.6% | 31 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $9.3M | 43,786 | 2.9% | 3 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $8.6M | 292,876 | 2.7% | 31 |
| ISHARES TR | [IWL](https://holderbook.com/stocks/IWL/) | $7.5M | 40,644 | 2.3% | 23 |
| EQUINIX INC | [EQIX](https://holderbook.com/stocks/EQIX/) | $7.3M | 6,962 | 2.2% | 31 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $6.2M | 38,130 | 1.9% | 15 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $5.7M | 8,059 | 1.8% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $5.5M | 19,651 | 1.7% | 31 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $5.4M | 36,950 | 1.7% | 16 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $5.4M | 15,795 | 1.7% | 31 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $5.3M | 114,372 | 1.6% | 17 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $5.2M | 19,152 | 1.6% | 31 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $4.9M | 25,103 | 1.5% | 10 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $4.8M | 31,527 | 1.5% | 23 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $4.7M | 58,380 | 1.5% | 31 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $4.6M | 4,541 | 1.4% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $4.6M | 63,410 | 1.4% | 8 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $4.3M | 12,658 | 1.3% | 31 |
| SCHWAB STRATEGIC TR | [SCHM](https://holderbook.com/stocks/SCHM/) | $4.3M | 115,548 | 1.3% | 24 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $3.6M | 75,901 | 1.1% | 31 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $3.1M | 5,789 | 1.0% | 31 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $3.1M | 7,464 | 1.0% | 31 |
| VALMONT INDS INC | [VMI](https://holderbook.com/stocks/VMI/) | $2.9M | 5,072 | 0.9% | 31 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $2.9M | 22,024 | 0.9% | 18 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.8M | 7,881 | 0.9% | 10 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $2.8M | 5,532 | 0.9% | 13 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $2.5M | 24,341 | 0.8% | 11 |
| AKAMAI TECHNOLOGIES INC | [AKAM](https://holderbook.com/stocks/AKAM/) | $2.4M | 20,104 | 0.7% | 31 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $2.3M | 27,853 | 0.7% | 15 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $2.3M | 44,219 | 0.7% | 31 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $2.2M | 7,577 | 0.7% | 10 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.1M | 13,703 | 0.7% | 9 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $2.1M | 29,756 | 0.6% | 3 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $2.1M | 20,984 | 0.6% | 31 |
| BOSTON SCIENTIFIC CORP | [BSX](https://holderbook.com/stocks/BSX/) | $2.1M | 48,069 | 0.6% | 3 |
| L3HARRIS TECHNOLOGIES INC | [LHX](https://holderbook.com/stocks/LHX/) | $2.0M | 6,845 | 0.6% | 28 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $1.9M | 38,896 | 0.6% | 13 |
| EXPEDITORS INTL WASH INC | [EXPD](https://holderbook.com/stocks/EXPD/) | $1.8M | 10,958 | 0.6% | 31 |
| F5 INC | [FFIV](https://holderbook.com/stocks/FFIV/) | $1.8M | 4,241 | 0.5% | 8 |
| IONIS PHARMACEUTICALS INC | [IONS](https://holderbook.com/stocks/IONS/) | $1.6M | 20,240 | 0.5% | 31 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $1.6M | 12,553 | 0.5% | 18 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $1.5M | 42,558 | 0.5% | 31 |
| ULTA BEAUTY INC | [ULTA](https://holderbook.com/stocks/ULTA/) | $1.4M | 3,168 | 0.4% | 6 |
| KNIGHT-SWIFT TRANSN HLDGS IN | [KNX](https://holderbook.com/stocks/KNX/) | $1.4M | 17,606 | 0.4% | 31 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $1.1M | 26,624 | 0.4% | 31 |
| RADIAN GROUP INC | [RDN](https://holderbook.com/stocks/RDN/) | $1.1M | 29,629 | 0.3% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $1.1M | 1,489 | 0.3% | 14 |
| ALIGN TECHNOLOGY INC | [ALGN](https://holderbook.com/stocks/ALGN/) | $1.0M | 6,200 | 0.3% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.0M | 1,349 | 0.3% | 31 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $993.0K | 24,043 | 0.3% | 1 |
| HF SINCLAIR CORP | [DINO](https://holderbook.com/stocks/DINO/) | $921.0K | 13,221 | 0.3% | 5 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $864.0K | 17,616 | 0.3% | 31 |
| SCOTTS MIRACLE-GRO CO | [SMG](https://holderbook.com/stocks/SMG/) | $828.0K | 12,152 | 0.3% | 10 |
| FIDELITY NATL INFORMATION SV | [FIS](https://holderbook.com/stocks/FIS/) | $729.0K | 18,762 | 0.2% | 31 |
| LYFT INC | [LYFT](https://holderbook.com/stocks/LYFT/) | $723.0K | 49,502 | 0.2% | 3 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $650.0K | 1,720 | 0.2% | 11 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $580.0K | 1,575 | 0.2% | 25 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $563.0K | 7,011 | 0.2% | 20 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $541.0K | 7,016 | 0.2% | 9 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $480.0K | 1,599 | 0.1% | 31 |
| SKYWORKS SOLUTIONS INC | [SWKS](https://holderbook.com/stocks/SWKS/) | $465.0K | 6,864 | 0.1% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $377.0K | 403 | 0.1% | 12 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $326.0K | 881 | 0.1% | 11 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $308.0K | 2,240 | 0.1% | 2 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $302.0K | 2,685 | 0.1% | 2 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $280.0K | 1,885 | 0.1% | 5 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $257.0K | 214 | 0.1% | 1 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $234.0K | 2,986 | 0.1% | 5 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $202.0K | 2,300 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.6% | +14.8% | -4.2% | 100% |
| Q1 2026 | -5.8% | -4.6% | -1.2% | 100% |
| Q4 2025 | +0.6% | +2.4% | -1.8% | 100% |
| Q3 2025 | +6.5% | +7.8% | -1.3% | 100% |
| Q2 2025 | +9.1% | +10.5% | -1.3% | 100% |
| Q1 2025 | -6.4% | -4.6% | -1.9% | 100% |
| Q4 2024 | +2.4% | +2.1% | +0.3% | 100% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $323.9M | 77 |
| Q1 2026 | $292.0M | 76 |
| Q4 2025 | $316.0M | 74 |
| Q3 2025 | $306.6M | 71 |
| Q2 2025 | $298.6M | 73 |
| Q1 2025 | $284.5M | 70 |
| Q4 2024 | $291.2M | 71 |
| Q3 2024 | $289.3M | 70 |
| Q2 2024 | $267.8M | 68 |
| Q1 2024 | $271.0M | 68 |
| Q4 2023 | $245.2M | 65 |
| Q3 2023 | $223.4M | 62 |