SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Nicollet Investment Management, Inc.

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

Reported Value
$245M
Q4 2023
Positions
65
Filings on Record
29
2019–present window
Filed
Feb 12, 2024
original filing

Summary

Nicollet Investment Management, Inc. reported $245M in U.S.-listed holdings across 65 positions for Q4 2023.

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

Compared with Q3 2023, the fund opened 4 new positions and exited 1.

Portfolio Metrics

Turnover
+2.1%
vs prior filed quarter
Top-10 Concentration
+53.3%
share of reported value
Largest Position
+10.4%
Apple Computer
New / Exited
4 / 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: 89.4%ETP: 7.6%ADR: 1.8%REIT: 1.2%
  • Common Stock · 89.4% · $219M
  • ETP · 7.6% · $19M
  • ADR · 1.8% · $4M
  • REIT · 1.2% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SBUXStarbucks CorpNEW+33.6K33.6K+$3M$3M
VTIVanguard Total Stock Market ETFNEW+881881+$209,000$209,000
AVGOBroadcom IncNEW+186186+$208,000$208,000
IJRIshares Core S&P Small Cap ETFNEW+1.9K1.9K+$204,000$204,000
HDHome Depot Inc.SOLD OUT−8.6K0−$3M$0
SYYSysco Corp.TRIMMED−7.1K25.2K−$289,000$2M
TMOThermo Fisher ScientificTRIMMED−1.1K5.1K−$431,000$3M
IONSIonis Pharmaceuticals IncADDED+1.1K9.8K+$102,000$495,000

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

Holdings — Q4 2023

64 positions (from 65 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AAPLApple Computerhistory →COM10.42%$26M132.8K
2MSFTMicrosoft Corphistory →COM8.87%$22M57.8K
3GOOGAlphabet Inc Cl CCOM7.90%$19M137.9K
4AMZNAmazon Com Inc.history →COM6.57%$16M106.0K
5VVisa Inchistory →COM4.02%$10M37.8K
6METAMeta Platforms Inc Cl Ahistory →COM3.48%$9M24.1K
7GWWGrainger W W Inchistory →COM3.35%$8M9.9K
8TSLATesla Motors Inchistory →COM3.14%$8M31.0K
9SLBSchlumberger LTDhistory →COM2.88%$7M135.6K
10SCHXSchwab U.S. Large Cap ETFhistory →ETF2.62%$6M114.0K
11NOWServicenow, Inchistory →COM2.16%$5M7.5K
12UNPUnion Pacific Corphistory →COM2.06%$5M20.6K
13IWLIshares Russell Top 200 ETFhistory →ETF2.00%$5M42.6K
14PANWPalo Alto Networks Inchistory →COM1.95%$5M16.2K
15ACNAccenture PLC CL Ahistory →COM1.93%$5M13.5K
16FISVFiserv Inchistory →COM1.85%$5M34.2K
17ECLEcolab Inc.history →COM1.83%$4M22.6K
18UNHUnitedhealth Group Inchistory →COM1.83%$4M8.5K
19MMM3M Companyhistory →COM1.81%$4M40.7K
20NVONovo-Nordisk AShistory →COM1.76%$4M41.7K
21ORCLOracle Corphistory →COM1.71%$4M39.7K
22NVDANvidiahistory →COM1.62%$4M8.0K
23KOCoca Cola Co.history →COM1.58%$4M65.9K
24TJXTJX Cos Inc Newhistory →COM1.44%$4M37.6K
25MRKMerck & Co.history →COM1.33%$3M29.9K
26SBUXStarbucks Corphistory →COM1.31%$3M33.6K
27EOGE O G Resources Inc.history →COM1.30%$3M26.4K
28CBChubb Ltd Fhistory →COM1.27%$3M13.7K
29EQIXEquinix, Inchistory →COM1.25%$3M3.8K
30SCHMSchwab U.S. Mid Cap ETFhistory →ETF1.22%$3M39.8K
31TMOThermo Fisher Scientifichistory →COM1.10%$3M5.1K
32FASTFastenal Companyhistory →COM1.04%$3M39.4K
33AKAMAkamai Technologies IncCOM0.96%$2M20.0K
34SYYSysco Corp.COM0.75%$2M25.2K
35PYPLPaypal Holdings IncCOM0.74%$2M29.6K
36EXPDExpeditors Int'l WACOM0.57%$1M10.9K
37LHXL3 Harris Technologies IncCOM0.57%$1M6.6K
38LULULululemon Athletica IncCOM0.55%$1M2.7K
39SCHASchwab US Small Cap ETFETF0.53%$1M27.6K
40UTHRUnited TherapeuticsCOM0.53%$1M5.9K
41Splunk IncCOM0.52%$1M8.4K
42VMIValmont Inds IncCOM0.47%$1M5.0K
43FISFISCOM0.45%$1M18.3K
44KNXKnight Swift TransportationCOM0.43%$1M18.2K
45RDNRadian Group IncCOM0.36%$874,00030.6K
46CTRACoterra Energy IncCOM0.35%$864,00033.9K
47SPYSPDR S&P 500 ETFETF0.33%$812,0001.7K
48SOSouthern CoCOM0.33%$804,00011.5K
49SWKSSkyworks Solutions IncCOM0.32%$796,0007.1K
50FFIVF5 Networks, IncCOM0.32%$777,0004.3K
51ALKSAlkermes PlcCOM0.31%$760,00027.4K
52DINOHF Sinclair CorpCOM0.29%$718,00012.9K
53MDYSpdr S&P Midcap 400 ETFETF0.26%$631,0001.2K
54IONSIonis Pharmaceuticals IncCOM0.20%$495,0009.8K
55IVVIShares Core S&P 500 ETFETF0.18%$435,000910
56LLYEli LillyCOM0.16%$400,000687
57XELXCEL Energy IncCOM0.14%$338,0005.5K
58Stericycle IncCOM0.13%$329,0006.6K
59IWMIShares Tr Russell 2000 ETFETF0.13%$320,0001.6K
60GLDSpdr Gold TR Gold ShsCOM0.13%$315,0001.6K
61COSTCostco Wholesale CorpCOM0.11%$280,000425
62VTIVanguard Total Stock Market ETFETF0.09%$209,000881
63AVGOBroadcom IncCOM0.08%$208,000186
64IJRIshares Core S&P Small Cap ETFETF0.08%$204,0001.9K

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 ↗.