Nicholas Company, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), Nicholas Company, Inc. reported 215 stock positions worth $5.9 billion. Its top holding was Microsoft (MSFT) at 3.9% of the portfolio, followed by Alphabet Class C (GOOG, 3.8%) and Nvidia (NVDA, 3.7%). Compared with Q2 2025, it opened 8 new positions, sold out of 9, added to 59 and reduced 102. The biggest buy was a new position in Johnson Controls Internation (JCI) and the biggest sale an exit from Accenture Class A (ACN).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0000903949
- Portfolio Value
- $5.9B (Q3 2025)
- SEC Filing
- 0000903949-25-000009 ↗ filed Nov 12, 2025
Holdings Value
Holdings 215 stocks · $5.9B
| MSFT Microsoft Corp. | 3.89% | 442,427 | $229.2M | Reduce -4.0% |
| GOOG Alphabet Inc. Class C | 3.81% | 922,270 | $224.6M | Reduce -15.3% |
| NVDA Nvidia Corp. | 3.67% | 1,158,250 | $216.1M | No change |
| AMZN Amazon.com Inc. | 3.25% | 873,554 | $191.8M | Add +2.2% |
| AAPL Apple Inc. | 2.53% | 586,605 | $149.4M | Add +0.0% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.82% | 742,500 | $107.3M | Reduce 0.0% |
| ORLY O'reilly Automotive Inc. | 1.80% | 981,775 | $105.8M | Reduce -9.0% |
| HD Home Depot Inc. | 1.65% | 239,723 | $97.1M | Add +0.0% |
| AZN Astrazeneca PLC-Spons ADR | 1.47% | 1,128,004 | $86.5M | Reduce -1.0% |
| VMC Vulcan Materials Co. | 1.44% | 275,965 | $84.9M | Reduce -0.0% |
| COST Costco Wholesale Corp. | 1.39% | 88,276 | $81.7M | No change |
| SPGI S&P Global Inc. | 1.37% | 165,540 | $80.6M | Add +0.0% |
| ZS Zscaler Inc. | 1.34% | 262,737 | $78.7M | Reduce -0.0% |
| JPM JPMorgan Chase & Co. | 1.33% | 248,590 | $78.4M | Reduce -0.6% |
| TMO Thermo Fisher Scientific Inc. | 1.32% | 159,968 | $77.6M | Add +18.5% |
| LLY Eli Lilly & Co. | 1.28% | 98,514 | $75.2M | Add +7.1% |
| META Meta Platforms Inc. Class A | 1.25% | 100,040 | $73.5M | No change |
| AMD Advanced Micro Devices | 1.23% | 448,715 | $72.6M | Reduce -11.9% |
| FAST Fastenal Co. | 1.21% | 1,450,690 | $71.1M | Reduce -1.6% |
| SNOW Snowflake Inc. | 1.20% | 314,594 | $71.0M | Reduce -5.7% |
| SNY Sanofi-ADR | 1.20% | 1,500,365 | $70.8M | Add +7.4% |
| SHW The Sherwin-Williams Co. | 1.19% | 203,220 | $70.4M | Add +0.0% |
| MA Mastercard Inc. Class A | 1.17% | 120,860 | $68.7M | Reduce -3.0% |
| FISV Fiserv Inc. | 1.16% | 529,099 | $68.2M | Add +9.4% |
| WDAY Workday Inc. Class A | 1.15% | 282,030 | $67.9M | No change |
| V Visa Inc. Class A | 1.14% | 196,055 | $66.9M | Reduce -0.1% |
| ICE Intercontinental Exchange Inc. | 1.13% | 396,915 | $66.9M | Add +0.0% |
| AON Aon PLC Class A | 1.10% | 181,427 | $64.7M | No change |
| CRM Salesforce Inc. | 1.09% | 271,530 | $64.4M | Add +0.0% |
| SNPS Synopsys Inc. | 1.06% | 126,702 | $62.5M | Add +19.0% |
| NOW ServiceNow Inc. | 1.05% | 67,340 | $62.0M | Reduce -8.3% |
| BSX Boston Scientific Corp. | 1.04% | 627,158 | $61.2M | No change |
| SYK Stryker Corp. | 1.03% | 164,677 | $60.9M | No change |
| WCN Waste Connections Inc. | 1.01% | 339,162 | $59.6M | Reduce -1.7% |
| LRCX Lam Research Corp. | 1.01% | 442,540 | $59.3M | No change |
| TXN Texas Instruments Inc. | 1.00% | 321,234 | $59.0M | Add +11.0% |
| ADBE Adobe Inc. | 0.97% | 162,226 | $57.2M | No change |
| CMG Chipotle Mexican Grill Inc. | 0.95% | 1,433,370 | $56.2M | Add +4.5% |
| NFLX Netflix Inc. | 0.95% | 46,530 | $55.8M | No change |
| SBUX Starbucks Corp. | 0.94% | 656,645 | $55.6M | Add +0.0% |
| KLAC KLA Corp. | 0.94% | 51,135 | $55.2M | No change |
| CARR Carrier Global Corp. | 0.93% | 922,625 | $55.1M | Add +0.0% |
| MCD McDonald's Corp. | 0.92% | 178,910 | $54.4M | Add +0.0% |
| CTAS Cintas Corp. | 0.91% | 260,526 | $53.5M | Reduce -3.7% |
| ALC Alcon Inc. filed as ALCON AG | 0.83% | 660,110 | $49.2M | Add +8.6% |
| KO The Coca-Cola Co. | 0.83% | 737,030 | $48.9M | Reduce 0.0% |
| CDNS Cadence Design SYS Inc. | 0.81% | 136,146 | $47.8M | Reduce -7.8% |
| ITW Illinois Tool Works | 0.78% | 175,415 | $45.7M | Add +2.1% |
| PANW Palo Alto Networks Inc. | 0.77% | 223,650 | $45.5M | Reduce -16.3% |
| TEAM Atlassian Corp. Class A | 0.77% | 282,329 | $45.1M | Add +23.9% |
| FTV Fortive Corp. | 0.74% | 894,490 | $43.8M | Reduce -0.0% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.74% | 889,694 | $43.6M | Reduce -1.2% |
| KVUE Kenvue Inc. | 0.72% | 2,623,637 | $42.6M | No change |
| ROP Roper Technologies Inc. | 0.68% | 80,375 | $40.1M | No change |
| JCI Johnson Controls Internation | 0.56% | 297,635 | $32.7M | New |
| AOS Smith (a.o.) Corp. | 0.49% | 390,763 | $28.7M | Reduce -0.0% |
| LSCC Lattice Semiconductor Corp. | 0.48% | 386,908 | $28.4M | Reduce -0.0% |
| RJF Raymond James Financial Inc. | 0.45% | 154,805 | $26.7M | Reduce -4.2% |
| TDY Teledyne Technologies Inc. | 0.44% | 44,219 | $25.9M | Reduce -0.1% |
| MCHP Microchip Technology Inc. | 0.43% | 396,182 | $25.4M | Add +4.4% |
| PTC PTC Inc. | 0.41% | 120,425 | $24.4M | Reduce -0.0% |
| CBRE CBRE Group Inc. Class A | 0.41% | 152,455 | $24.0M | Reduce -4.8% |
| PCTY Paylocity Holding Corp. | 0.39% | 143,578 | $22.9M | Reduce -0.0% |
| RBA RB Global Inc. | 0.39% | 210,933 | $22.9M | Reduce -5.4% |
| IEX Idex Corp. | 0.37% | 132,563 | $21.6M | Add +28.0% |
| AME Ametek Inc. | 0.36% | 114,388 | $21.5M | Reduce -0.0% |
| DT Dynatrace Inc. | 0.36% | 443,753 | $21.5M | Add +0.0% |
| TRU Transunion | 0.36% | 255,168 | $21.4M | Add +0.0% |
| NDSN Nordson Corp. | 0.36% | 94,110 | $21.4M | Add +5.8% |
| VEEV Veeva Systems Inc. Class A | 0.36% | 70,285 | $20.9M | Reduce -0.0% |
| GMED Globus Medical Inc. Class A | 0.35% | 360,091 | $20.6M | No change |
| CPAY Corpay Inc. | 0.35% | 70,950 | $20.4M | Reduce -0.1% |
| TECH Bio-Techne Corp. | 0.35% | 367,009 | $20.4M | Add +41.9% |
| ULTA Ulta Beauty Inc. | 0.34% | 37,185 | $20.3M | Reduce -0.0% |
| LHX L3HARRIS Technologies Inc. | 0.34% | 65,290 | $19.9M | Reduce -22.2% |
| BR Broadridge Financial Solutio | 0.33% | 81,509 | $19.4M | Reduce -0.0% |
| STVN Stevanato Group SPA | 0.33% | 745,364 | $19.2M | Reduce -0.0% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.32% | 203,889 | $19.0M | Reduce -0.0% |
| VRSK Verisk Analytics Inc. | 0.32% | 74,370 | $18.7M | Reduce -0.1% |
| ATR Aptargroup Inc. | 0.32% | 139,830 | $18.7M | Reduce -0.0% |
| MTD Mettler-Toledo International | 0.32% | 15,139 | $18.6M | Reduce -0.0% |
| WING Wingstop Inc. | 0.31% | 73,527 | $18.5M | Add +4.1% |
| SCI Service Corp. International | 0.31% | 221,530 | $18.4M | Reduce -0.0% |
| STE Steris PLC | 0.31% | 73,735 | $18.2M | Add +0.1% |
| CSGP Costar Group Inc. | 0.31% | 214,314 | $18.1M | Add +0.0% |
| RMD Resmed Inc. | 0.30% | 64,365 | $17.6M | Reduce -17.9% |
| WAB Wabtec Corp. | 0.30% | 87,423 | $17.5M | Add +0.0% |
| ESTC Elastic NV | 0.29% | 201,846 | $17.1M | Reduce -0.1% |
| CDW CDW Corp. | 0.27% | 99,405 | $15.8M | Add +0.0% |
| OKTA Okta Inc. | 0.27% | 172,388 | $15.8M | Reduce -0.1% |
| IQV Iqvia Holdings Inc. | 0.24% | 75,731 | $14.4M | Reduce -0.0% |
| DPZ Domino's Pizza Inc. | 0.24% | 33,265 | $14.4M | Reduce -0.0% |
| FOUR SHIFT4 Payments Inc. Class A | 0.24% | 180,500 | $14.0M | No change |
| ODFL Old Dominion Freight Line | 0.23% | 95,585 | $13.5M | Add +0.0% |
| AVGO Broadcom Inc. | 0.23% | 40,672 | $13.4M | Reduce -8.3% |
| MORN Morningstar Inc. | 0.22% | 56,575 | $13.1M | Add +0.0% |
| ADI Analog Devices Inc. | 0.22% | 53,078 | $13.0M | No change |
| MDB Mongodb Inc. | 0.22% | 41,935 | $13.0M | Reduce -0.2% |
| CVX Chevron Corp. | 0.21% | 80,020 | $12.4M | No change |
| NTRS Northern Trust Corp. | 0.21% | 90,436 | $12.2M | Reduce -8.6% |
Portfolio Sells Q2 2025 → Q3 2025
| ACN Accenture PLC Class A | Sold out | 0.00% | −1.23 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.67 |
| UNH Unitedhealth Group Inc. | Reduce -85.3% | 0.10% | −0.49 |
| TTD Trade Desk Inc./the Class A | Reduce -1.2% | 0.74% | −0.35 |
| RAL Ralliant Corp. | Sold out | 0.00% | −0.24 |
| NOW ServiceNow Inc. | Reduce -8.3% | 1.05% | −0.21 |
| PANW Palo Alto Networks Inc. | Reduce -16.3% | 0.77% | −0.14 |
| STZ Constellation Brands Inc. Class A | Sold out | 0.00% | −0.13 |
| PFE Pfizer Inc. | Sold out | 0.00% | −0.10 |
| CTAS Cintas Corp. | Reduce -3.7% | 0.91% | −0.10 |
| IT Gartner Inc. | Reduce -0.1% | 0.18% | −0.09 |
| TGT Target Corp. | Sold out | 0.00% | −0.08 |
| VRSK Verisk Analytics Inc. | Reduce -0.1% | 0.32% | −0.07 |
| WCN Waste Connections Inc. | Reduce -1.7% | 1.01% | −0.07 |
| DGX Quest Diagnostics Inc. | Sold out | 0.00% | −0.06 |
| AMED Amedisys Inc. | Sold out | 0.00% | −0.05 |
| ATR Aptargroup Inc. | Reduce -0.0% | 0.32% | −0.05 |
| CPAY Corpay Inc. | Reduce -0.1% | 0.35% | −0.05 |
| PCTY Paylocity Holding Corp. | Reduce -0.0% | 0.39% | −0.05 |
| QTWO Q2 Holdings Inc. | Reduce -0.0% | 0.17% | −0.05 |
| BJ Bj's Wholesale Club Holdings | Reduce -0.0% | 0.32% | −0.05 |
| SNOW Snowflake Inc. | Reduce -5.7% | 1.20% | −0.05 |
| ZS Zscaler Inc. | Reduce -0.0% | 1.34% | −0.04 |
| BWIN Baldwin Insurance Group Inc./ | Reduce -0.1% | 0.09% | −0.04 |
| KO The Coca-Cola Co. | Reduce 0.0% | 0.83% | −0.04 |
| IBM Intl Business Machines Corp. | Reduce -25.3% | 0.11% | −0.04 |
| PBH Prestige Consumer Healthcare | Reduce -0.0% | 0.16% | −0.04 |
| RMD Resmed Inc. | Reduce -17.9% | 0.30% | −0.04 |
| FTV Fortive Corp. | Reduce -0.0% | 0.74% | −0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -16.6% | 0.14% | −0.03 |
| RSG Republic Services Inc. | Reduce -8.0% | 0.20% | −0.03 |
| V Visa Inc. Class A | Reduce -0.1% | 1.14% | −0.03 |
| FIX Comfort Systems USA Inc. | Reduce -66.5% | 0.03% | −0.03 |
| JKHY Jack Henry & Associates Inc. | Reduce -0.0% | 0.14% | −0.03 |
| NOMD Nomad Foods Ltd. | Reduce -0.0% | 0.10% | −0.03 |
| ROAD Construction Partners Inc. Class A | Reduce -35.5% | 0.08% | −0.02 |
| OKTA Okta Inc. | Reduce -0.1% | 0.27% | −0.02 |
| LII Lennox International Inc. | Reduce -20.0% | 0.06% | −0.02 |
| OPCH Option Care Health Inc. | Reduce -0.0% | 0.12% | −0.02 |
| MDT Medtronic PLC | Reduce -25.6% | 0.08% | −0.02 |
| MRTN Marten Transport Ltd. | Reduce -0.1% | 0.07% | −0.01 |
| UFPT Ufp Technologies Inc. | Reduce -0.1% | 0.07% | −0.01 |
| LHX L3HARRIS Technologies Inc. | Reduce -22.2% | 0.34% | −0.01 |
| NDAQ Nasdaq Inc. | Reduce -9.1% | 0.14% | −0.01 |
| JJSF J & J Snack Foods Corp. | Reduce -0.0% | 0.07% | −0.01 |
| KNX Knight-Swift Transportation | Reduce -0.1% | 0.09% | −0.01 |
| RBA RB Global Inc. | Reduce -5.4% | 0.39% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -9.7% | 0.19% | −0.01 |
| LZB La-Z-Boy Inc. | Reduce -0.0% | 0.12% | −0.01 |
| TTEK Tetra Tech Inc. | Reduce -0.1% | 0.12% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| JCI Johnson Controls Internation | New | 0.56% | +0.56 |
| AAPL Apple Inc. | Add +0.0% | 2.53% | +0.52 |
| TMO Thermo Fisher Scientific Inc. | Add +18.5% | 1.32% | +0.40 |
| FICO Fair Isaac Corp. | New | 0.20% | +0.20 |
| HD Home Depot Inc. | Add +0.0% | 1.65% | +0.18 |
| SN Sharkninja Inc. | New | 0.16% | +0.16 |
| VIK Viking Holdings Ltd. | New | 0.15% | +0.15 |
| SNPS Synopsys Inc. | Add +19.0% | 1.06% | +0.15 |
| TECH Bio-Techne Corp. | Add +41.9% | 0.35% | +0.12 |
| AMZN Amazon.com Inc. | Add +2.2% | 3.25% | +0.12 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.09% | +0.09 |
| LLY Eli Lilly & Co. | Add +7.1% | 1.28% | +0.07 |
| SNY Sanofi-ADR | Add +7.4% | 1.20% | +0.07 |
| ITW Illinois Tool Works | Add +2.1% | 0.78% | +0.07 |
| IEX Idex Corp. | Add +28.0% | 0.37% | +0.06 |
| OC Owens Corning | Add +158.4% | 0.10% | +0.06 |
| MAMA Mama's Creations Inc. | New | 0.06% | +0.06 |
| MOD Modine Manufacturing Co. | Add +42.3% | 0.10% | +0.05 |
| BX Blackstone Inc. | Add +47.1% | 0.12% | +0.05 |
| MCD McDonald's Corp. | Add +0.0% | 0.92% | +0.05 |
| NDSN Nordson Corp. | Add +5.8% | 0.36% | +0.04 |
| UNP Union Pacific Corp. | Add +26.5% | 0.15% | +0.04 |
| CSW CSW Industrials Inc. | New | 0.04% | +0.04 |
| ONTO Onto Innovation Inc. | Add +18.1% | 0.10% | +0.03 |
| JEF Jefferies Financial Group Inc. | New | 0.03% | +0.03 |
| HOLX Hologic Inc. | Add +10.8% | 0.19% | +0.03 |
| SHW The Sherwin-Williams Co. | Add +0.0% | 1.19% | +0.03 |
| ARE Alexandria Real Estate Equit | Add +24.2% | 0.08% | +0.03 |
| NKE Nike Inc. Class B | Add +24.9% | 0.11% | +0.02 |
| ALKT Alkami Technology Inc. | Add +45.0% | 0.12% | +0.02 |
| CWST Casella Waste Systems Inc. Class A | Add +46.3% | 0.11% | +0.02 |
| CSGP Costar Group Inc. | Add +0.0% | 0.31% | +0.02 |
| STE Steris PLC | Add +0.1% | 0.31% | +0.01 |
| OMCL Omnicell Inc. | Add +13.9% | 0.06% | +0.01 |
| FIVN FIVE9 Inc. | Add +22.7% | 0.08% | +0.01 |
| CERT Certara Inc. | Add +2.0% | 0.12% | +0.01 |
| MDLZ Mondelez International Inc. Class A | Add +12.8% | 0.11% | +0.01 |
| INTA Intapp Inc. | Add +33.2% | 0.09% | +0.01 |
| EXLS Exlservice Holdings Inc. | Add +0.0% | 0.17% | +0.00 |
| RVTY Revvity Inc. | Add +10.6% | 0.20% | +0.00 |
| WSO Watsco Inc. | Add +8.3% | 0.10% | +0.00 |
| EXPO Exponent Inc. | Add +2.0% | 0.11% | −0.00 |
| TXN Texas Instruments Inc. | Add +11.0% | 1.00% | −0.00 |
| BL Blackline Inc. | Add +0.0% | 0.13% | −0.01 |
| WAB Wabtec Corp. | Add +0.0% | 0.30% | −0.01 |
| TEAM Atlassian Corp. Class A | Add +23.9% | 0.77% | −0.01 |
| TENB Tenable Holdings Inc. | Add +3.2% | 0.10% | −0.01 |
| CNS Cohen & Steers Inc. | Add +7.4% | 0.20% | −0.01 |
| NOVT Novanta Inc. | Add +9.5% | 0.08% | −0.01 |
| TRU Transunion | Add +0.0% | 0.36% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 195 | $5.5B | GOOG, NVDA, AMZN, AAPL, MSFT |
| Q1 2026 | 203 | $5.1B | GOOG, NVDA, AMZN, AAPL, MSFT |
| Q4 2025 | 205 | $5.7B | GOOG, NVDA, MSFT, AMZN, AAPL |
| Q3 2025 | 215 | $5.9B | MSFT, GOOG, NVDA, AMZN, AAPL |
| Q2 2025 | 216 | $6.0B | MSFT, GOOG, AMZN, NVDA, AAPL |
| Q1 2025 | 213 | $5.8B | MSFT, GOOG, AMZN, AAPL, NVDA |
| Q4 2024 | 214 | $6.2B | GOOG, MSFT, AMZN, AAPL, ORLY |
| Q3 2024 | 216 | $6.1B | MSFT, GOOG, AMZN, AAPL, ORLY |
| Q2 2024 | 216 | $6.0B | MSFT, GOOG, AMZN, AAPL, ORLY |
| Q1 2024 | 218 | $6.1B | MSFT, GOOG, AMZN, ORLY, DXCM |