Q2 2026 13F · SEC CIK 1729048

Nicollet Investment Management, Inc.

Wealth managerFiled 2026-08-05 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $323.9M
Reported positions: 77
Top holdings a year, 3 yrs: +18.3%
Assets under management: $557.4M

Nicollet Investment Management, Inc. is a wealth manager that reported 77 positions worth $323.9M in its Q2 2026 13F, filed 2026-08-05. Its largest holdings were Amazon Com Inc Com (AMZN, 7.1%), Alphabet Inc (GOOG, 6.7%), Apple Inc (AAPL, 6.5%). A portfolio copying its top holdings returned 18.3% a year over the last 3 years, against 20.4% for the S&P 500.

Nicollet Investment Management, Inc. holdings largest 50 of 77 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Nicollet Investment Management, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
AMZNAmazon Com Inc Com	7.1%	6.8%	96,027	+0.3%	$22.9M
GOOGAlphabet Inc	6.7%	6.2%	60,959	-2.7%	$21.5M
AAPLApple Inc	6.5%	6.3%	73,284	+0.6%	$21.2M
GOOGLAlphabet Inc	5.2%	4.6%	46,782	+1.1%	$16.7M
MSFTMicrosoft Corp	5.1%	5.5%	43,970	+0.5%	$16.4M
NVDANvidia Corporation Com	4.1%	4.0%	66,612	+0.1%	$13.3M
METAMeta Platforms Inc Class A	3.8%	4.3%	21,814	-0.1%	$12.3M
GWWWw Grainger Inc	3.7%	3.2%	8,779	+1.1%	$11.9M
VVisa Inc Com Cl A	3.6%	3.5%	34,273	+0.3%	$11.8M
RSPInvesco S&p 500 Equal Weight ETF	2.9%	2.8%	43,786	+2.6%	$9.3M
SCHXSchwab Stratgc Tr	2.7%	2.6%	292,876	+0.0%	$8.6M
IWLIshares Tr	2.3%	2.2%	40,644	+0.9%	$7.5M
EQIXEquinix Inc	2.2%	2.6%	6,962	-11.5%	$7.3M
MMM3m Co Com	1.9%	1.9%	38,130	+0.6%	$6.2M
MDYState Street Spdr S&p Midcap 400 ETF Tru	1.8%	1.7%	8,059	+2.9%	$5.7M
ECLEcolab Inc	1.7%	1.8%	19,651	+0.3%	$5.5M
ORCLOracle Corp	1.7%	1.9%	36,950	-0.1%	$5.4M
PANWPalo Alto Networks Inc	1.7%	0.9%	15,795	+1.8%	$5.4M
SLBSlb Limited	1.6%	2.0%	114,372	+0.1%	$5.3M
UNPUnion Pac Corp	1.6%	1.5%	19,152	+3.2%	$5.2M
RMDResmed Inc	1.5%	1.9%	25,103	+1.3%	$4.9M
TJXTjx Cos Inc New Com	1.5%	1.7%	31,527	+1.3%	$4.8M
KOCoca Cola Co	1.5%	1.5%	58,380	-0.7%	$4.7M
GSGoldman Sachs Group Inc	1.4%	1.3%	4,541	+1.3%	$4.6M
UBERUber Technologies Inc	1.4%	1.6%	63,410	-0.0%	$4.6M
CBChubb Limited Com	1.3%	1.4%	12,658	+0.5%	$4.3M
SCHMSchwab Strategic Tr	1.3%	1.2%	115,548	-0.8%	$4.3M
FASTFastenal Co	1.1%	1.2%	75,901	+2.7%	$3.6M
UTHRUnited Therapeutics Corp	1.0%	1.2%	5,789	+1.6%	$3.1M
UNHUnitedhealth Group Inc Com	1.0%	0.7%	7,464	-0.2%	$3.1M
VMIValmont Industries, Inc.	0.9%	0.7%	5,072	+1.9%	$2.9M
EOGEog Res Inc	0.9%	1.1%	22,024	+0.2%	$2.9M
HDHome Depot Inc Com	0.9%	0.9%	7,881	+0.0%	$2.8M
TMOThermo Fisher Scientific Inc	0.9%	0.9%	5,532	+0.5%	$2.8M
SBUXStarbucks Corp Com	0.8%	0.7%	24,341	+0.6%	$2.5M
AKAMAkamai Technologies Inc	0.7%	0.8%	20,104	+2.7%	$2.4M
SYYSysco Corp	0.7%	0.7%	27,853	+2.5%	$2.3M
ALKSAlkermes PLC	0.7%	0.5%	44,219	+2.1%	$2.3M
GNRCGenerac Hldgs Inc	0.7%	0.5%	7,577	+2.3%	$2.2M
CRMSalesforce Inc Com	0.7%	0.9%	13,703	-2.2%	$2.1M
MRNAModerna Inc	0.6%	0.5%	29,756	+2.2%	$2.1M
NOWServicenow Inc Com	0.6%	0.7%	20,984	+3.6%	$2.1M
BSXBoston Scientific Corp	0.6%	1.0%	48,069	+0.4%	$2.1M
LHXL3harris Technologies Inc	0.6%	0.8%	6,845	+3.5%	$2.0M
NVONovo-Nordisk A S	0.6%	0.5%	38,896	-0.8%	$1.9M
EXPDExpeditors International of Wa	0.6%	0.5%	10,958	+2.4%	$1.8M
FFIVF5 Inc	0.5%	—	4,241	—	$1.8M
IONSIonis Pharmaceuticals Inc	0.5%	0.5%	20,240	+3.0%	$1.6M
ACNAccenture PLC Ireland Shs Class A	0.5%	0.8%	12,553	+0.7%	$1.6M
SCHASchwab U.s. Small-Cap ETF	0.5%	—	42,558	—	$1.5M

What Nicollet Investment Management, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

No position grew by more than 5%.

Reduced

EQIX Equinix Inc-11.5% shares

Left the top 50

ULTA Ulta Beauty Incwas 0.5%
PYPL Paypal Hldgs Incwas 0.4%

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +11.0% /yr; S&P 500 +20.1%
3 years: +18.3% /yr; S&P 500 +20.4%
5 years: +9.9% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F 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

Questions about Nicollet Investment Management, Inc.'s portfolio

What stocks does Nicollet Investment Management, Inc. own?

Nicollet Investment Management, Inc.'s latest 13F, for Q2 2026 and filed Aug 5, 2026, lists 77 positions worth $323.9M. The largest are Amazon Com Inc Com (AMZN) at 7.1%, Alphabet Inc (GOOG) at 6.7%, Apple Inc (AAPL) at 6.5%, Alphabet Inc (GOOGL) at 5.2% and Microsoft Corp (MSFT) at 5.1%.

What did Nicollet Investment Management, Inc. buy last quarter?

Nicollet Investment Management, Inc. opened no new positions and grew none by more than 5% among its largest holdings in Q2 2026.

What did Nicollet Investment Management, Inc. sell last quarter?

In Q2 2026, Nicollet Investment Management, Inc. cut from its top 50 Ulta Beauty Inc (ULTA), cut from its top 50 Paypal Hldgs Inc (PYPL) and Equinix Inc (EQIX) (-11.5% shares), compared with its Q1 2026 filing.

How has Nicollet Investment Management, Inc.'s portfolio performed?

A portfolio copying Nicollet Investment Management, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +11.0% against +20.1%. Over 5 years: +9.9% a year against +11.6%.

When is Nicollet Investment Management, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Nicollet Investment Management, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Nicollet Investment Management, Inc. manage?

Nicollet Investment Management, Inc. reported $557.4M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $323.9M.