Nicollet Investment Management, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 2, 2024), Nicollet Investment Management, Inc. reported 68 stock positions worth $271.0 million. Its top holding was Microsoft (MSFT) at 8.5% of the portfolio, followed by Apple (AAPL, 8.2%) and Amazon.com (AMZN, 7.1%). Compared with Q4 2023, it opened 5 new positions, sold out of 2, added to 42 and reduced 15. The biggest buy was a new position in Resmed (RMD) and the biggest sale Apple (AAPL, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001729048
- Portfolio Value
- $271.0M (Q1 2024)
- SEC Filing
- 0001729048-24-000002 ↗ filed May 2, 2024
Holdings Value
Holdings 68 stocks · $271.0M
| MSFT Microsoft Corp. | 8.47% | 54,552 | $23.0M | Reduce -5.7% |
| AAPL Apple Inc. | 8.22% | 129,885 | $22.3M | Reduce -2.2% |
| AMZN Amazon.com Inc. | 7.09% | 106,461 | $19.2M | Add +0.4% |
| GOOG Alphabet Inc. Class C | 5.00% | 88,960 | $13.5M | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 4.21% | 23,521 | $11.4M | Reduce -2.5% |
| V Visa Inc. Class A | 3.86% | 37,443 | $10.4M | Reduce -1.1% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 3.68% | 9,800 | $10.0M | Reduce -1.1% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 2.72% | 134,562 | $7.4M | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.68% | 8,052 | $7.3M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 2.68% | 48,163 | $7.3M | Add +0.0% |
| SCHX Schwab US Large-Cap ETF | 2.33% | 101,689 | $6.3M | Reduce -10.8% |
| IWL iShares Russell Top 200 ETF | 2.13% | 45,467 | $5.8M | Add +6.7% |
| NOW ServiceNow Inc. | 2.12% | 7,535 | $5.7M | Add +0.6% |
| RMD Resmed Inc. | 2.10% | 28,724 | $5.7M | New |
| FISV Fiserv Inc. | 2.02% | 34,331 | $5.5M | Add +0.5% |
| TSLA Tesla Inc. | 2.00% | 30,830 | $5.4M | Reduce -0.6% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.98% | 41,766 | $5.4M | Add +0.2% |
| ECL Ecolab Inc. | 1.93% | 22,660 | $5.2M | Add +0.1% |
| UNP Union Pacific Corp. | 1.87% | 20,658 | $5.1M | Add +0.4% |
| ORCL Oracle Corp. | 1.84% | 39,705 | $5.0M | Add +0.1% |
| ACN Accenture PLC Class A | 1.72% | 13,484 | $4.7M | Add +0.2% |
| PANW Palo Alto Networks Inc. | 1.71% | 16,337 | $4.6M | Add +0.8% |
| MMM 3M Co. | 1.71% | 43,740 | $4.6M | Add +7.5% |
| UNH Unitedhealth Group Inc. | 1.54% | 8,443 | $4.2M | Reduce -0.9% |
| KO The Coca-Cola Co. | 1.49% | 65,935 | $4.0M | Add +0.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.40% | 37,490 | $3.8M | Reduce -0.3% |
| TMO Thermo Fisher Scientific Inc. | 1.31% | 6,100 | $3.5M | Add +19.7% |
| CB Chubb Ltd. | 1.30% | 13,631 | $3.5M | Reduce -0.8% |
| EOG EOG Resources Inc. | 1.25% | 26,495 | $3.4M | Add +0.3% |
| SCHM Schwab US Mid Cap ETF | 1.21% | 40,157 | $3.3M | Add +1.0% |
| HD Home Depot Inc. | 1.19% | 8,435 | $3.2M | New |
| SBUX Starbucks Corp. | 1.17% | 34,787 | $3.2M | Add +3.6% |
| EQIX Equinix Inc. | 1.16% | 3,813 | $3.1M | Add +0.6% |
| FAST Fastenal Co. | 1.12% | 39,459 | $3.0M | Add +0.1% |
| SYY Sysco Corp. | 0.93% | 31,150 | $2.5M | Add +23.4% |
| AKAM Akamai Technologies Inc. | 0.81% | 20,064 | $2.2M | Add +0.5% |
| PYPL PayPal Holdings Inc. | 0.79% | 31,953 | $2.1M | Add +8.0% |
| LHX L3HARRIS Technologies Inc. | 0.52% | 6,611 | $1.4M | Add +0.3% |
| FIS Fidelity National Info Serv | 0.50% | 18,443 | $1.4M | Add +0.9% |
| UTHR United Therapeutics Corp. | 0.50% | 5,923 | $1.4M | Add +0.5% |
| EXPD Expeditors Intl Wash Inc. | 0.49% | 10,976 | $1.3M | Add +0.6% |
| ALKS Alkermes PLC | 0.44% | 43,992 | $1.2M | Add +60.5% |
| VMI Valmont Industries | 0.43% | 5,054 | $1.2M | Add +1.4% |
| SCHA Schwab US Small-Cap ETF | 0.41% | 22,751 | $1.1M | Reduce -17.6% |
| LULU Lululemon Athletica Inc. | 0.38% | 2,668 | $1.0M | Add +0.6% |
| RDN Radian Group Inc. | 0.38% | 30,819 | $1.0M | Add +0.6% |
| GNRC Generac Holdings Inc. | 0.37% | 7,937 | $1.0M | New |
| KNX Knight-Swift Transportation | 0.37% | 18,177 | $1.0M | Add +0.1% |
| SMG Scotts Miracle-Gro Co. | 0.36% | 12,948 | $966K | New |
| CTRA Coterra Energy Inc. | 0.35% | 34,026 | $949K | Add +0.5% |
| SRCL Stericycle Inc. | 0.35% | 17,909 | $945K | Add +169.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.33% | 1,708 | $893K | No change |
| IONS Ionis Pharmaceuticals Inc. | 0.33% | 20,521 | $890K | Add +109.9% |
| FFIV F5 Inc. | 0.31% | 4,370 | $829K | Add +0.6% |
| SO The Southern Co. | 0.30% | 11,461 | $822K | No change |
| DINO HF Sinclair Corp. | 0.29% | 13,003 | $785K | Add +0.7% |
| SWKS Skyworks Solutions Inc. | 0.28% | 7,116 | $771K | Add +0.4% |
| MDY State Street SPDR S&P Midcap | 0.26% | 1,245 | $693K | Add +0.1% |
| LLY Eli Lilly & Co. | 0.20% | 680 | $529K | Reduce -1.0% |
| MURA Mural Oncology PLC | 0.18% | 100,006 | $489K | New |
| IVV iShares Core S&P 500 ETF | 0.18% | 918 | $483K | Add +0.9% |
| GLD SPDR Gold Shares | 0.13% | 1,350 | $339K | Reduce -18.2% |
| IWM iShares Russell 2000 ETF | 0.12% | 1,599 | $336K | Add +0.3% |
| COST Costco Wholesale Corp. | 0.11% | 425 | $311K | No change |
| XEL Xcel Energy Inc. | 0.11% | 5,464 | $294K | No change |
| AVGO Broadcom Inc. | 0.09% | 191 | $253K | Add +2.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.08% | 881 | $229K | No change |
| IJR iShares Core S&P Small-Cap E | 0.08% | 1,885 | $208K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| AAPL Apple Inc. | Reduce -2.2% | 8.22% | −2.21 |
| MRK Merck & Co. Inc. | Sold out | 0.00% | −1.33 |
| TSLA Tesla Inc. | Reduce -0.6% | 2.00% | −1.14 |
| SPLK Splunk Inc. | Sold out | 0.00% | −0.52 |
| MSFT Microsoft Corp. | Reduce -5.7% | 8.47% | −0.40 |
| SCHX Schwab US Large-Cap ETF | Reduce -10.8% | 2.33% | −0.29 |
| UNH Unitedhealth Group Inc. | Reduce -0.9% | 1.54% | −0.29 |
| V Visa Inc. Class A | Reduce -1.1% | 3.86% | −0.16 |
| GOOG Alphabet Inc. Class C | Reduce -0.9% | 5.00% | −0.16 |
| SLB SLB Ltd. | Reduce -0.8% | 2.72% | −0.16 |
| SCHA Schwab US Small-Cap ETF | Reduce -17.6% | 0.41% | −0.12 |
| TJX TJX Companies Inc. | Reduce -0.3% | 1.40% | −0.04 |
| GLD SPDR Gold Shares | Reduce -18.2% | 0.13% | −0.00 |
| LLY Eli Lilly & Co. | Reduce -1.0% | 0.20% | +0.03 |
| CB Chubb Ltd. | Reduce -0.8% | 1.30% | +0.04 |
| GWW WW Grainger Inc. | Reduce -1.1% | 3.68% | +0.33 |
| META Meta Platforms Inc. Class A | Reduce -2.5% | 4.21% | +0.73 |
Portfolio Buys Q4 2023 → Q1 2024
| RMD Resmed Inc. | New | 2.10% | +2.10 |
| HD Home Depot Inc. | New | 1.19% | +1.19 |
| NVDA Nvidia Corp. | Add +0.1% | 2.68% | +1.06 |
| AMZN Amazon.com Inc. | Add +0.4% | 7.09% | +0.52 |
| GNRC Generac Holdings Inc. | New | 0.37% | +0.37 |
| SMG Scotts Miracle-Gro Co. | New | 0.36% | +0.36 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +0.2% | 1.98% | +0.22 |
| SRCL Stericycle Inc. | Add +169.6% | 0.35% | +0.21 |
| TMO Thermo Fisher Scientific Inc. | Add +19.7% | 1.31% | +0.21 |
| SYY Sysco Corp. | Add +23.4% | 0.93% | +0.18 |
| MURA Mural Oncology PLC | New | 0.18% | +0.18 |
| FISV Fiserv Inc. | Add +0.5% | 2.02% | +0.17 |
| ORCL Oracle Corp. | Add +0.1% | 1.84% | +0.13 |
| IWL iShares Russell Top 200 ETF | Add +6.7% | 2.13% | +0.13 |
| ALKS Alkermes PLC | Add +60.5% | 0.44% | +0.13 |
| IONS Ionis Pharmaceuticals Inc. | Add +109.9% | 0.33% | +0.13 |
| ECL Ecolab Inc. | Add +0.1% | 1.93% | +0.10 |
| FAST Fastenal Co. | Add +0.1% | 1.12% | +0.08 |
| FIS Fidelity National Info Serv | Add +0.9% | 0.50% | +0.06 |
| PYPL PayPal Holdings Inc. | Add +8.0% | 0.79% | +0.05 |
| RDN Radian Group Inc. | Add +0.6% | 0.38% | +0.02 |
| AVGO Broadcom Inc. | Add +2.7% | 0.09% | +0.01 |
| IVV iShares Core S&P 500 ETF | Add +0.9% | 0.18% | +0.00 |
| MDY State Street SPDR S&P Midcap | Add +0.1% | 0.26% | −0.00 |
| CTRA Coterra Energy Inc. | Add +0.5% | 0.35% | −0.00 |
| DINO HF Sinclair Corp. | Add +0.7% | 0.29% | −0.00 |
| IWM iShares Russell 2000 ETF | Add +0.3% | 0.12% | −0.01 |
| FFIV F5 Inc. | Add +0.6% | 0.31% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Add +1.0% | 1.21% | −0.02 |
| UTHR United Therapeutics Corp. | Add +0.5% | 0.50% | −0.03 |
| NOW ServiceNow Inc. | Add +0.6% | 2.12% | −0.04 |
| SWKS Skyworks Solutions Inc. | Add +0.4% | 0.28% | −0.04 |
| LHX L3HARRIS Technologies Inc. | Add +0.3% | 0.52% | −0.05 |
| VMI Valmont Industries | Add +1.4% | 0.43% | −0.05 |
| EOG EOG Resources Inc. | Add +0.3% | 1.25% | −0.05 |
| KNX Knight-Swift Transportation | Add +0.1% | 0.37% | −0.06 |
| GOOGL Alphabet Inc. Class A | Add +0.0% | 2.68% | −0.06 |
| EXPD Expeditors Intl Wash Inc. | Add +0.6% | 0.49% | −0.07 |
| EQIX Equinix Inc. | Add +0.6% | 1.16% | −0.08 |
| KO The Coca-Cola Co. | Add +0.1% | 1.49% | −0.10 |
| MMM 3M Co. | Add +7.5% | 1.71% | −0.10 |
| SBUX Starbucks Corp. | Add +3.6% | 1.17% | −0.14 |
| AKAM Akamai Technologies Inc. | Add +0.5% | 0.81% | −0.16 |
| LULU Lululemon Athletica Inc. | Add +0.6% | 0.38% | −0.17 |
| UNP Union Pacific Corp. | Add +0.4% | 1.87% | −0.19 |
| ACN Accenture PLC Class A | Add +0.2% | 1.72% | −0.20 |
| PANW Palo Alto Networks Inc. | Add +0.8% | 1.71% | −0.24 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 77 | $323.9M | AMZN, GOOG, AAPL, GOOGL, MSFT |
| Q1 2026 | 76 | $292.0M | AMZN, AAPL, GOOG, MSFT, GOOGL |
| Q4 2025 | 74 | $316.0M | AMZN, MSFT, AAPL, GOOG, GOOGL |
| Q3 2025 | 71 | $306.6M | MSFT, AMZN, AAPL, GOOG, META |
| Q2 2025 | 73 | $298.6M | MSFT, AMZN, META, AAPL, GOOG |
| Q1 2025 | 70 | $284.5M | AMZN, MSFT, AAPL, META, V |
| Q4 2024 | 71 | $291.2M | AMZN, MSFT, AAPL, GOOG, META |
| Q3 2024 | 70 | $289.3M | MSFT, AMZN, AAPL, GOOG, META |
| Q2 2024 | 68 | $267.8M | MSFT, AMZN, AAPL, GOOG, META |
| Q1 2024 | 68 | $271.0M | MSFT, AAPL, AMZN, GOOG, META |