SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Nicollet Investment Management, Inc.

CIK 0001729048 · 800 NORTH WASHINGTON AVENUE, SUITE 150, MINNEAPOLIS, MN, 55401 · 6129153033

Reported Value
$225M
Q2 2023
Positions
60
Filings on Record
29
2019–present window
Filed
Aug 8, 2023
original filing

Summary

Nicollet Investment Management, Inc. reported $225M in U.S.-listed holdings across 60 positions for Q2 2023.

Its largest position, AAPL, represents 12.3% of the portfolio.

Compared with Q1 2023, the fund opened 2 new positions and exited 1.

Portfolio Metrics

Turnover
+1.7%
vs prior filed quarter
Top-10 Concentration
+55.0%
share of reported value
Largest Position
+12.3%
Apple Computer
New / Exited
2 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $152MQ1 ’19Q2 ’19: $159MQ3 ’19: $158MQ4 ’19: $214MQ1 ’20: $135MQ1 ’20Q2 ’20: $180MQ3 ’20: $198MQ4 ’20: $223MQ1 ’21: $228MQ1 ’21Q2 ’21: $246MQ3 ’21: $238MQ4 ’21: $249MQ1 ’22: $225MQ1 ’22Q2 ’22: $186MQ3 ’22: $183MQ4 ’22: $173MQ1 ’23: $192MQ1 ’23Q2 ’23: $225MQ3 ’23: $223MQ4 ’23: $245MQ1 ’24: $271MQ1 ’24Q2 ’24: $268MQ3 ’24: $289MQ4 ’24: $291MQ1 ’25: $284MQ1 ’25Q2 ’25: $299MQ3 ’25: $307MQ4 ’25: $316MQ1 ’26: $292MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 89.8%ETP: 7.4%ADR: 1.5%REIT: 1.3%
  • Common Stock · 89.8% · $202M
  • ETP · 7.4% · $17M
  • ADR · 1.5% · $3M
  • REIT · 1.3% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVONovo-Nordisk ASNEW+20.8K20.8K+$3M$3M
TMOThermo Fisher ScientificNEW+6.1K6.1K+$3M$3M
MMM3M CompanyADDED+41.2K45.1K+$4M$5M
JNJJohnson & JohnsonSOLD OUT−18.4K0−$3M$0
IWLIshares Russell Top 200 ETFADDED+13.2K37.9K+$2M$4M
SCHMSchwab U.S. Mid Cap ETFADDED+5.3K38.8K+$485,000$3M
METAMeta Platforms Inc Cl ATRIMMED−1.5K20.8K+$1M$6M
TSLATesla Motors IncHELD−1.5K32.5K+$1M$9M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2023

59 positions (from 60 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple Computerhistory →COM12.29%$28M142.3K
2MSFTMicrosoft Corphistory →COM9.00%$20M59.3K
3GOOGAlphabet Inc Cl CCOM7.51%$17M139.8K
4AMZNAmazon Com Inc.history →COM6.24%$14M107.5K
5VVisa Inchistory →COM4.06%$9M38.4K
6TSLATesla Motors Inchistory →COM3.79%$9M32.5K
7GWWGrainger W W Inchistory →COM3.65%$8M10.4K
8SLBSchlumberger LTDhistory →COM3.02%$7M138.2K
9SCHXSchwab U.S. Large Cap ETFhistory →ETF2.74%$6M117.3K
10METAMeta Platforms Inc Cl Ahistory →COM2.65%$6M20.8K
11ORCLOracle Corphistory →COM2.14%$5M40.3K
12MMM3M Companyhistory →COM2.01%$5M45.1K
13UNPUnion Pacific Corphistory →COM1.92%$4M21.1K
14ECLEcolab Inc.history →COM1.90%$4M22.8K
15ACNAccenture PLC CL Ahistory →COM1.86%$4M13.5K
16PANWPalo Alto Networks Inchistory →COM1.85%$4M16.2K
17NOWServicenow, Inchistory →COM1.82%$4M7.3K
18FISVFiserv Inchistory →COM1.81%$4M32.2K
19IWLIshares Russell Top 200 ETFhistory →ETF1.80%$4M37.9K
20KOCoca Cola Co.history →COM1.80%$4M67.1K
21UNHUnitedhealth Group Inchistory →COM1.79%$4M8.3K
22MRKMerck & Co.history →COM1.59%$4M30.9K
23NVONovo-Nordisk AShistory →COM1.50%$3M20.8K
24TMOThermo Fisher Scientifichistory →COM1.43%$3M6.1K
25EOGE O G Resources Inc.history →COM1.37%$3M26.9K
26TJXTJX Cos Inc Newhistory →COM1.35%$3M35.9K
27EQIXEquinix, Inchistory →COM1.27%$3M3.6K
28SCHMSchwab U.S. Mid Cap ETFhistory →ETF1.23%$3M38.8K
29CBChubb Ltd Fhistory →COM1.20%$3M13.9K
30HDHome Depot Inc.history →COM1.15%$3M8.3K
31SYYSysco Corp.history →COM1.07%$2M32.5K
32FASTFastenal CompanyCOM0.99%$2M37.8K
33PYPLPaypal Holdings IncCOM0.97%$2M32.8K
34AKAMAkamai Technologies IncCOM0.76%$2M19.1K
35VMIValmont Inds IncCOM0.63%$1M4.9K
36SCHASchwab US Small Cap ETFETF0.58%$1M29.6K
37EXPDExpeditors Int'l WACOM0.56%$1M10.4K
38LHXL3 Harris Technologies IncCOM0.56%$1M6.5K
39UTHRUnited TherapeuticsCOM0.56%$1M5.7K
40LULULululemon Athletica IncCOM0.43%$973,0002.6K
41KNXKnight Swift TransportationCOM0.43%$967,00017.4K
42FISFISCOM0.41%$920,00016.8K
43Splunk IncCOM0.40%$899,0008.5K
44ALKSAlkermes PlcCOM0.37%$829,00026.5K
45CTRACoterra Energy IncCOM0.36%$819,00032.4K
46SOSouthern CoCOM0.36%$805,00011.5K
47SWKSSkyworks Solutions IncCOM0.34%$769,0007.0K
48SPYSPDR S&P 500 ETFETF0.34%$757,0001.7K
49RDNRadian Group IncCOM0.33%$738,00029.2K
50FFIVF5 Networks, IncCOM0.27%$607,0004.2K
51MDYSpdr S&P Midcap 400 ETFETF0.26%$588,0001.2K
52DINOHF Sinclair CorpCOM0.24%$538,00012.1K
53IVVIShares Core S&P 500 ETFETF0.18%$415,000930
54XELXCEL Energy IncCOM0.17%$383,0006.2K
55IONSIonis Pharmaceuticals IncCOM0.16%$359,0008.8K
56LLYEli LillyCOM0.13%$298,000635
57IWMIShares Tr Russell 2000 ETFETF0.13%$294,0001.6K
58GLDSpdr Gold TR Gold ShsCOM0.13%$294,0001.6K
59Stericycle IncCOM0.13%$281,0006.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$292M76May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$316M74Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$307M71Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$299M73Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$284M70May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$291M71Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$289M70Nov 6, 202413F-HRchanges · EDGAR ↗
Q2 2024$268M68Aug 7, 202413F-HRchanges · EDGAR ↗
Q1 2024$271M68May 2, 202413F-HRchanges · EDGAR ↗
Q4 2023$245M65Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$223M62Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$225M60Aug 8, 202313F-HRchanges · EDGAR ↗
Q1 2023$192M59May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022$173M58Feb 6, 202313F-HRchanges · EDGAR ↗
Q3 2022$183M57Nov 8, 202213F-HRchanges · EDGAR ↗
Q2 2022$186M58Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$225M60May 4, 202213F-HRchanges · EDGAR ↗
Q4 2021$249M65Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$238M65Nov 5, 202113F-HRchanges · EDGAR ↗
Q2 2021$246M65Jul 28, 202113F-HRchanges · EDGAR ↗
Q1 2021$228M67May 10, 202113F-HRchanges · EDGAR ↗
Q4 2020$223M62Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$198M58Nov 10, 202013F-HRchanges · EDGAR ↗
Q2 2020$180M57Aug 4, 202013F-HRchanges · EDGAR ↗
Q1 2020$135M55May 4, 202013F-HRchanges · EDGAR ↗
Q4 2019$214M64Feb 7, 202013F-HRchanges · EDGAR ↗
Q3 2019$158M66Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$159M66Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$152M66May 2, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.