Nicollet Investment Management, Inc.

CIK

1729048

Location

MINNEAPOLIS, MN

Portfolio Value

Small $244,833,452

Diversification

Diversified

Filing Date

Global Rank

#3,804 / 8,607 ▼ 71 · as of Mar 2026

Top Industry

Software - Infrastructure 11.6%

3Y Alpha vs SPY

-7.0%

Period ended 3 months ago

Filed May 13, 2026 · 59d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+46.5%

SPY

+75.9%

Annualised alpha

-7.1%

Max drawdown

−19.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

65 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.1%

−0.5 pts

Top 5

32.9%

−3.3 pts

Top 10

51.2%

−3.1 pts

HHI

359

Diversified−41

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	29.3%	$71,816,993	15
Consumer Cyclical	12.8%	$31,264,568	5
Industrials	12.7%	$31,153,393	9
Communication Services	10.5%	$25,794,980	2
Healthcare	10.0%	$24,364,399	12
Financial Services	8.5%	$20,699,997	6
Energy	4.5%	$11,045,801	4
Real Estate	3.2%	$7,714,488	1
Unclassified	3.0%	$7,335,260	4
Consumer Defensive	2.8%	$6,808,836	3
Basic Materials	2.6%	$6,277,784	3
Utilities	0.2%	$556,953	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
NVO	Novo Nordisk A S	+18,633	39,205	$1,440,783
SYY	Sysco Corp	+548	27,168	$1,937,893
EOG	Eog Resources Inc	+493	21,989	$3,178,949
SBUX	Starbucks Corp	+38	24,202	$2,168,257
ACN	Accenture plc	+25	12,467	$2,472,081
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMZN	Amazon Com Inc	−3,281	95,744	$19,940,602
AAPL	Apple Inc.	−3,219	72,873	$18,494,438
SLB	Slb Limited/Nv	−3,001	114,203	$5,868,892
GOOGL	Alphabet Inc.	−3,001	46,258	$13,301,950
FAST	Fastenal Co	−2,956	73,890	$3,428,496
UBER	Uber Technologies, Inc	−2,442	63,414	$4,561,369
KO	Coca Cola Co	−2,053	58,769	$4,469,382
NVDA	Nvidia Corp	−2,047	66,575	$11,610,680
BSX	Boston Scientific Corp	−1,670	47,855	$3,002,901
MMM	3M Co	−1,381	37,902	$5,504,507
CTRA	Coterra Energy Inc.	−1,360	34,014	$1,195,251
MRNA	Moderna, Inc.	−1,291	29,122	$1,479,397
RDN	Radian Group Inc	−1,248	28,786	$952,240
ORCL	Oracle Corp	−1,206	36,998	$5,442,775
ALKS	Alkermes plc.	−1,178	43,301	$1,531,123
V	Visa Inc.	−1,169	34,164	$10,325,727
TJX	Tjx Companies Inc /De/	−1,128	31,113	$4,968,746
MSFT	Microsoft Corp	−1,064	43,762	$16,199,379
PYPL	PayPal Holdings, Inc.	−994	27,459	$1,241,970
META	Meta Platforms, Inc.	−964	21,836	$12,493,030
LYFT	Lyft, Inc.	−921	46,932	$624,195
RMD	Resmed Inc	−894	24,783	$5,563,287
IONS	Ionis Pharmaceuticals Inc	−877	19,646	$1,475,218
PANW	Palo Alto Networks Inc	−876	15,523	$2,488,647
UNP	Union Pacific Corp	−800	18,557	$4,502,299
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
GS	Goldman Sachs Group Inc	4,482	$3,791,727
WPM	Wheaton Precious Metals Corp.	2,685	$351,761
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
LLY	ELI LILLY & Co	214	$229,981
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

65 positions · $244,833,452 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 65 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	95,744	-3,281	$19,940,602	−12.8%	8.14%
AAPL	Apple Inc. Technology	Reduced	72,873	-3,219	$18,494,438	−10.6%	7.55%
MSFT	Microsoft Corp Technology	Reduced	43,762	-1,064	$16,199,379	−25.3%	6.62%
GOOGL	Alphabet Inc. Communication Services	Reduced	46,258	-3,001	$13,301,950	−13.7%	5.43%
META	Meta Platforms, Inc. Communication Services	Reduced	21,836	-964	$12,493,030	−17.0%	5.10%
NVDA	Nvidia Corp Technology	Reduced	66,575	-2,047	$11,610,680	−9.3%	4.74%
V	Visa Inc. Financial Services	Reduced	34,164	-1,169	$10,325,727	−16.7%	4.22%
GWW	W.W. Grainger, Inc. Industrials	Reduced	8,687	-238	$9,475,867	+5.2%	3.87%
EQIX	Equinix Inc Real Estate	Reduced	7,870	-211	$7,714,488	+24.6%	3.15%
SLB	Slb Limited/Nv Energy	Reduced	114,203	-3,001	$5,868,892	+30.5%	2.40%
RMD	Resmed Inc Healthcare	Reduced	24,783	-894	$5,563,287	−10.0%	2.27%
MMM	3M Co Industrials	Reduced	37,902	-1,381	$5,504,507	−12.5%	2.25%
ORCL	Oracle Corp Technology	Reduced	36,998	-1,206	$5,442,775	−26.9%	2.22%
ECL	Ecolab Inc. Basic Materials	Reduced	19,587	-608	$5,210,533	−1.7%	2.13%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Reduced	31,113	-1,128	$4,968,746	+0.3%	2.03%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	7,829	-619	$4,828,614	−5.3%	1.97%
UBER	Uber Technologies, Inc Technology	Reduced	63,414	-2,442	$4,561,369	−15.2%	1.86%
UNP	Union Pacific Corp Industrials	Reduced	18,557	-800	$4,502,299	+0.6%	1.84%
KO	Coca Cola Co Consumer Defensive	Reduced	58,769	-2,053	$4,469,382	+5.1%	1.83%
CB	Chubb Ltd Financial Services	Reduced	12,601	-415	$4,107,043	+1.1%	1.68%
GS	Goldman Sachs Group Inc Financial Services	NEW	4,482	NEW	$3,791,727	NEW	1.55%
FAST	Fastenal Co Industrials	Reduced	73,890	-2,956	$3,428,496	+11.2%	1.40%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Reduced	5,699	-232	$3,379,393	+16.9%	1.38%
EOG	Eog Resources Inc Energy	Added	21,989	+493	$3,178,949	+40.8%	1.30%
BSX	Boston Scientific Corp Healthcare	Reduced	47,855	-1,670	$3,002,901	−36.4%	1.23%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	5,504	-196	$2,705,381	−18.1%	1.10%
CRM	Salesforce, Inc. Technology	Reduced	14,009	-372	$2,615,060	−31.4%	1.07%
HD	Home Depot, Inc. Consumer Cyclical	Reduced	7,880	-233	$2,591,653	−7.2%	1.06%
PANW	Palo Alto Networks Inc Technology	Reduced	15,523	-876	$2,488,647	−17.6%	1.02%
ACN	Accenture plc Technology	Added	12,467	+25	$2,472,081	−25.9%	1.01%
LHX	L3harris Technologies, Inc. /De/ Industrials	Reduced	6,614	-270	$2,282,822	+13.0%	0.93%
AKAM	Akamai Technologies Inc Technology	Reduced	19,582	-100	$2,248,992	+31.0%	0.92%
SBUX	Starbucks Corp Consumer Cyclical	Added	24,202	+38	$2,168,257	+6.6%	0.89%
NOW	ServiceNow, Inc. Technology	Reduced	20,248	-797	$2,116,928	−34.3%	0.86%
UNH	Unitedhealth Group Inc Healthcare	Reduced	7,479	-345	$2,023,742	−21.6%	0.83%
VMI	Valmont Industries Inc Industrials	Reduced	4,975	-194	$1,987,860	−4.4%	0.81%
SYY	Sysco Corp Consumer Defensive	Added	27,168	+548	$1,937,893	−1.2%	0.79%
ULTA	Ulta Beauty, Inc. Consumer Cyclical	Reduced	3,052	-135	$1,595,310	−17.3%	0.65%
EXPD	Expeditors International Of Washington Inc Industrials	Reduced	10,698	-417	$1,532,274	−7.5%	0.63%
ALKS	Alkermes plc. Healthcare	Reduced	43,301	-1,178	$1,531,123	+23.0%	0.63%
MRNA	Moderna, Inc. Healthcare	Reduced	29,122	-1,291	$1,479,397	+64.9%	0.60%
IONS	Ionis Pharmaceuticals Inc Healthcare	Reduced	19,646	-877	$1,475,218	−9.1%	0.60%
GNRC	Generac Holdings Inc. Industrials	Reduced	7,410	-324	$1,447,395	+37.2%	0.59%
NVO	Novo Nordisk A S Healthcare	Added	39,205	+18,633	$1,440,783	+37.6%	0.59%
PYPL	PayPal Holdings, Inc. Financial Services	Reduced	27,459	-994	$1,241,970	−25.2%	0.51%
FFIV	F5, Inc. Technology	Reduced	4,153	-168	$1,201,587	+8.9%	0.49%
CTRA	Coterra Energy Inc. Energy	Reduced	34,014	-1,360	$1,195,251	+28.4%	0.49%
ALGN	Align Technology Inc Healthcare	Reduced	6,042	-250	$1,035,780	+5.4%	0.42%
KNX	Knight-Swift Transportation Holdings Inc. Industrials	Reduced	17,226	-751	$991,873	+5.5%	0.41%
FISV	Fiserv Inc	Reduced	17,066	-440	$952,282	−19.0%	0.39%