SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Nicollet Investment Management, Inc.

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

Reported Value
$223M
Q3 2023
Positions
62
Filings on Record
29
2019–present window
Filed
Nov 9, 2023
original filing

Summary

Nicollet Investment Management, Inc. reported $223M in U.S.-listed holdings across 62 positions for Q3 2023.

Its largest position, AAPL, represents 10.4% of the portfolio.

Compared with Q2 2023, the fund opened 2 new positions and exited 0.

Portfolio Metrics

Turnover
+5.1%
vs prior filed quarter
Top-10 Concentration
+53.5%
share of reported value
Largest Position
+10.4%
Apple Computer

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: 89.7%ETP: 7.4%ADR: 1.7%REIT: 1.2%
  • Common Stock · 89.7% · $200M
  • ETP · 7.4% · $17M
  • ADR · 1.7% · $4M
  • REIT · 1.2% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANvidiaNEW+8.0K8.0K+$4M$4M
COSTCostco Wholesale CorpNEW+425425+$240,000$240,000
NVONovo-Nordisk ASADDED+21.2K42.0K+$453,000$4M
METAMeta Platforms Inc Cl AADDED+3.7K24.5K+$1M$7M
IWLIshares Russell Top 200 ETFADDED+5.0K43.0K+$396,000$4M
LLYEli LillyADDED+52687+$71,000$369,000
TJXTJX Cos Inc NewADDED+2.3K38.2K+$353,000$3M
UNHUnitedhealth Group IncHELD+4168.8K+$407,000$4M

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

Holdings — Q3 2023

61 positions (from 62 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple Computerhistory →COM10.44%$23M136.2K
2MSFTMicrosoft Corphistory →COM8.36%$19M59.1K
3GOOGAlphabet Inc Cl CCOM8.24%$18M140.0K
4AMZNAmazon Com Inc.history →COM6.24%$14M109.6K
5VVisa Inchistory →COM3.94%$9M38.3K
6SLBSchlumberger LTDhistory →COM3.61%$8M138.2K
7TSLATesla Motors Inchistory →COM3.54%$8M31.6K
8METAMeta Platforms Inc Cl Ahistory →COM3.29%$7M24.5K
9GWWGrainger W W Inchistory →COM3.20%$7M10.3K
10SCHXSchwab U.S. Large Cap ETFhistory →ETF2.66%$6M117.3K
11IWLIshares Russell Top 200 ETFhistory →ETF1.99%$4M43.0K
12UNHUnitedhealth Group Inchistory →COM1.98%$4M8.8K
13UNPUnion Pacific Corphistory →COM1.92%$4M21.1K
14ORCLOracle Corphistory →COM1.91%$4M40.2K
15ACNAccenture PLC CL Ahistory →COM1.90%$4M13.8K
16MMM3M Companyhistory →COM1.87%$4M44.5K
17NOWServicenow, Inchistory →COM1.84%$4M7.4K
18ECLEcolab Inc.history →COM1.73%$4M22.9K
19NVONovo-Nordisk AShistory →COM1.71%$4M42.0K
20KOCoca Cola Co.history →COM1.68%$4M67.1K
21PANWPalo Alto Networks Inchistory →COM1.67%$4M15.9K
22FISVFiserv Inchistory →COM1.63%$4M32.2K
23NVDANvidiahistory →COM1.57%$4M8.0K
24EOGE O G Resources Inc.history →COM1.53%$3M27.0K
25TJXTJX Cos Inc Newhistory →COM1.52%$3M38.2K
26MRKMerck & Co.history →COM1.42%$3M30.9K
27TMOThermo Fisher Scientifichistory →COM1.40%$3M6.2K
28CBChubb Ltd Fhistory →COM1.30%$3M14.0K
29EQIXEquinix, Inchistory →COM1.21%$3M3.7K
30SCHMSchwab U.S. Mid Cap ETFhistory →ETF1.20%$3M39.6K
31HDHome Depot Inc.history →COM1.16%$3M8.6K
32SYYSysco Corp.COM0.96%$2M32.3K
33FASTFastenal CompanyCOM0.95%$2M38.8K
34AKAMAkamai Technologies IncCOM0.94%$2M19.6K
35PYPLPaypal Holdings IncCOM0.86%$2M32.9K
36UTHRUnited TherapeuticsCOM0.59%$1M5.8K
37EXPDExpeditors Int'l WACOM0.55%$1M10.7K
38Splunk IncCOM0.55%$1M8.4K
39SCHASchwab US Small Cap ETFETF0.55%$1M29.6K
40VMIValmont Inds IncCOM0.54%$1M5.0K
41LHXL3 Harris Technologies IncCOM0.52%$1M6.6K
42LULULululemon Athletica IncCOM0.46%$1M2.6K
43FISFISCOM0.43%$958,00017.3K
44CTRACoterra Energy IncCOM0.40%$899,00033.2K
45KNXKnight Swift TransportationCOM0.40%$895,00017.8K
46ALKSAlkermes PlcCOM0.34%$759,00027.1K
47RDNRadian Group IncCOM0.34%$755,00030.1K
48SOSouthern CoCOM0.33%$742,00011.5K
49SPYSPDR S&P 500 ETFETF0.33%$730,0001.7K
50SWKSSkyworks Solutions IncCOM0.32%$706,0007.2K
51FFIVF5 Networks, IncCOM0.31%$687,0004.3K
52DINOHF Sinclair CorpCOM0.30%$677,00011.9K
53MDYSpdr S&P Midcap 400 ETFETF0.25%$567,0001.2K
54IONSIonis Pharmaceuticals IncCOM0.18%$393,0008.7K
55IVVIShares Core S&P 500 ETFETF0.18%$391,000910
56LLYEli LillyCOM0.17%$369,000687
57XELXCEL Energy IncCOM0.16%$350,0006.1K
58GLDSpdr Gold TR Gold ShsCOM0.13%$283,0001.6K
59IWMIShares Tr Russell 2000 ETFETF0.13%$282,0001.6K
60Stericycle IncCOM0.12%$278,0006.2K
61COSTCostco Wholesale CorpCOM0.11%$240,000425

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 ↗.