Nicollet Investment Management, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 6, 2024), Nicollet Investment Management, Inc. reported 70 stock positions worth $289.3 million. Its top holding was Microsoft (MSFT) at 8.0% of the portfolio, followed by Amazon.com (AMZN, 6.8%) and Apple (AAPL, 6.6%). Compared with Q2 2024, it opened 2 new positions, added to 36 and reduced 21. The biggest buy was a new position in Uber Technologies (UBER) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0001729048
- Portfolio Value
- $289.3M (Q3 2024)
- SEC Filing
- 0001729048-24-000004 ↗ filed Nov 6, 2024
Holdings Value
Holdings 70 stocks · $289.3M
| MSFT Microsoft Corp. | 8.01% | 53,879 | $23.2M | Reduce -0.6% |
| AMZN Amazon.com Inc. | 6.76% | 104,952 | $19.6M | Reduce -0.3% |
| AAPL Apple Inc. | 6.62% | 82,196 | $19.2M | Reduce -1.9% |
| GOOG Alphabet Inc. Class C | 4.93% | 85,331 | $14.3M | Reduce -1.5% |
| META Meta Platforms Inc. Class A | 4.64% | 23,467 | $13.4M | Add +1.1% |
| V Visa Inc. Class A | 3.50% | 36,824 | $10.1M | Reduce -0.1% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 3.44% | 9,573 | $9.9M | Reduce -1.2% |
| NVDA Nvidia Corp. | 3.30% | 78,641 | $9.6M | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 2.85% | 49,800 | $8.3M | Add +2.9% |
| SCHX Schwab US Large-Cap ETF | 2.46% | 105,001 | $7.1M | Add +3.2% |
| RMD Resmed Inc. | 2.39% | 28,348 | $6.9M | Add +0.2% |
| ORCL Oracle Corp. | 2.32% | 39,465 | $6.7M | Add +0.6% |
| IWL iShares Russell Top 200 ETF | 2.27% | 46,817 | $6.6M | Add +2.7% |
| NOW ServiceNow Inc. | 2.27% | 7,335 | $6.6M | Reduce -0.1% |
| FISV Fiserv Inc. | 2.13% | 34,298 | $6.2M | Add +0.1% |
| MMM 3M Co. | 2.03% | 42,993 | $5.9M | Reduce -0.3% |
| ECL Ecolab Inc. | 1.97% | 22,298 | $5.7M | Reduce -0.2% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 1.91% | 131,754 | $5.5M | Reduce -0.3% |
| UBER Uber Technologies Inc. | 1.90% | 73,228 | $5.5M | New |
| PANW Palo Alto Networks Inc. | 1.89% | 15,959 | $5.5M | Add +0.3% |
| UNP Union Pacific Corp. | 1.75% | 20,510 | $5.1M | Add +0.8% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.70% | 41,253 | $4.9M | Add +0.1% |
| UNH Unitedhealth Group Inc. | 1.69% | 8,340 | $4.9M | Add +0.5% |
| ACN Accenture PLC Class A | 1.64% | 13,399 | $4.7M | Add +0.9% |
| KO The Coca-Cola Co. | 1.62% | 65,105 | $4.7M | Add +0.4% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.49% | 36,643 | $4.3M | Reduce -0.9% |
| CRM Salesforce Inc. | 1.44% | 15,243 | $4.2M | Add +1.3% |
| CB Chubb Ltd. | 1.35% | 13,534 | $3.9M | Add +0.7% |
| TMO Thermo Fisher Scientific Inc. | 1.28% | 5,992 | $3.7M | Add +0.2% |
| HD Home Depot Inc. | 1.18% | 8,445 | $3.4M | Add +1.3% |
| SCHM Schwab US Mid Cap ETF | 1.18% | 41,162 | $3.4M | Add +3.1% |
| EQIX Equinix Inc. | 1.16% | 3,768 | $3.3M | Add +1.1% |
| EOG EOG Resources Inc. | 1.10% | 25,944 | $3.2M | Reduce -0.4% |
| SBUX Starbucks Corp. | 1.05% | 31,232 | $3.0M | Reduce -9.3% |
| FAST Fastenal Co. | 0.96% | 38,932 | $2.8M | Add +1.2% |
| PYPL PayPal Holdings Inc. | 0.85% | 31,627 | $2.5M | Reduce -1.1% |
| SYY Sysco Corp. | 0.83% | 30,740 | $2.4M | Reduce -0.1% |
| UTHR United Therapeutics Corp. | 0.72% | 5,833 | $2.1M | Add +1.1% |
| AKAM Akamai Technologies Inc. | 0.69% | 19,790 | $2.0M | Add +1.2% |
| LHX L3HARRIS Technologies Inc. | 0.55% | 6,675 | $1.6M | Add +1.2% |
| FIS Fidelity National Info Serv | 0.53% | 18,281 | $1.5M | Reduce -0.7% |
| VMI Valmont Industries | 0.50% | 5,029 | $1.5M | Add +2.2% |
| EXPD Expeditors Intl Wash Inc. | 0.49% | 10,826 | $1.4M | Add +1.2% |
| GNRC Generac Holdings Inc. | 0.43% | 7,866 | $1.3M | Add +1.1% |
| ALKS Alkermes PLC | 0.42% | 43,845 | $1.2M | Add +1.7% |
| SCHA Schwab US Small-Cap ETF | 0.40% | 22,348 | $1.2M | Add +0.1% |
| SMG Scotts Miracle-Gro Co. | 0.39% | 12,845 | $1.1M | Add +1.1% |
| SRCL Stericycle Inc. | 0.37% | 17,615 | $1.1M | Add +0.4% |
| SO The Southern Co. | 0.36% | 11,461 | $1.0M | No change |
| RDN Radian Group Inc. | 0.36% | 29,766 | $1.0M | Reduce -0.7% |
| FFIV F5 Inc. | 0.33% | 4,350 | $958K | New |
| KNX Knight-Swift Transportation | 0.33% | 17,584 | $949K | Reduce -0.8% |
| IONS Ionis Pharmaceuticals Inc. | 0.28% | 20,402 | $817K | Add +1.5% |
| CTRA Coterra Energy Inc. | 0.28% | 33,869 | $811K | Add +2.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 1,366 | $784K | No change |
| LULU Lululemon Athletica Inc. | 0.26% | 2,726 | $740K | Add +2.4% |
| SWKS Skyworks Solutions Inc. | 0.25% | 7,254 | $716K | Add +2.2% |
| MDY State Street SPDR S&P Midcap | 0.25% | 1,245 | $709K | No change |
| SOLV Solventum Corp. | 0.23% | 9,521 | $664K | Reduce -10.0% |
| LLY Eli Lilly & Co. | 0.20% | 653 | $579K | No change |
| DINO HF Sinclair Corp. | 0.19% | 12,513 | $558K | Reduce -0.9% |
| IVV iShares Core S&P 500 ETF | 0.19% | 931 | $537K | No change |
| GLD SPDR Gold Shares | 0.14% | 1,650 | $401K | No change |
| COST Costco Wholesale Corp. | 0.13% | 425 | $376K | No change |
| IWM iShares Russell 2000 ETF | 0.12% | 1,599 | $353K | No change |
| AVGO Broadcom Inc. | 0.11% | 1,910 | $329K | No change |
| MURA Mural Oncology PLC | 0.11% | 98,973 | $310K | Add +1.0% |
| XEL Xcel Energy Inc. | 0.10% | 4,364 | $285K | Reduce -48.1% |
| VTI VG Morningstar TS MKT ETF-US | 0.09% | 881 | $249K | No change |
| IJR iShares Core S&P Small-Cap E | 0.08% | 1,885 | $220K | No change |
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -0.6% | 8.01% | −1.03 |
| GOOG Alphabet Inc. Class C | Reduce -1.5% | 4.93% | −1.00 |
| AMZN Amazon.com Inc. | Reduce -0.3% | 6.76% | −0.84 |
| SLB SLB Ltd. | Reduce -0.3% | 1.91% | −0.42 |
| EOG EOG Resources Inc. | Reduce -0.4% | 1.10% | −0.12 |
| V Visa Inc. Class A | Reduce -0.1% | 3.50% | −0.11 |
| XEL Xcel Energy Inc. | Reduce -48.1% | 0.10% | −0.07 |
| DINO HF Sinclair Corp. | Reduce -0.9% | 0.19% | −0.06 |
| TJX TJX Companies Inc. | Reduce -0.9% | 1.49% | −0.03 |
| ECL Ecolab Inc. | Reduce -0.2% | 1.97% | −0.02 |
| KNX Knight-Swift Transportation | Reduce -0.8% | 0.33% | −0.00 |
| RDN Radian Group Inc. | Reduce -0.7% | 0.36% | +0.01 |
| SYY Sysco Corp. | Reduce -0.1% | 0.83% | +0.01 |
| FIS Fidelity National Info Serv | Reduce -0.7% | 0.53% | +0.01 |
| SOLV Solventum Corp. | Reduce -10.0% | 0.23% | +0.02 |
| AAPL Apple Inc. | Reduce -1.9% | 6.62% | +0.03 |
| SBUX Starbucks Corp. | Reduce -9.3% | 1.05% | +0.05 |
| NOW ServiceNow Inc. | Reduce -0.1% | 2.27% | +0.11 |
| PYPL PayPal Holdings Inc. | Reduce -1.1% | 0.85% | +0.16 |
| GWW WW Grainger Inc. | Reduce -1.2% | 3.44% | +0.17 |
| MMM 3M Co. | Reduce -0.3% | 2.03% | +0.39 |
Portfolio Buys Q2 2024 → Q3 2024
| UBER Uber Technologies Inc. | New | 1.90% | +1.90 |
| RMD Resmed Inc. | Add +0.2% | 2.39% | +0.37 |
| FFIV F5 Inc. | New | 0.33% | +0.33 |
| META Meta Platforms Inc. Class A | Add +1.1% | 4.64% | +0.27 |
| ORCL Oracle Corp. | Add +0.6% | 2.32% | +0.26 |
| FISV Fiserv Inc. | Add +0.1% | 2.13% | +0.22 |
| ACN Accenture PLC Class A | Add +0.9% | 1.64% | +0.13 |
| HD Home Depot Inc. | Add +1.3% | 1.18% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +0.5% | 1.69% | +0.11 |
| EQIX Equinix Inc. | Add +1.1% | 1.16% | +0.10 |
| KO The Coca-Cola Co. | Add +0.4% | 1.62% | +0.08 |
| SMG Scotts Miracle-Gro Co. | Add +1.1% | 0.39% | +0.08 |
| CB Chubb Ltd. | Add +0.7% | 1.35% | +0.07 |
| FAST Fastenal Co. | Add +1.2% | 0.96% | +0.06 |
| GNRC Generac Holdings Inc. | Add +1.1% | 0.43% | +0.05 |
| TMO Thermo Fisher Scientific Inc. | Add +0.2% | 1.28% | +0.05 |
| ALKS Alkermes PLC | Add +1.7% | 0.42% | +0.04 |
| UTHR United Therapeutics Corp. | Add +1.1% | 0.72% | +0.04 |
| AKAM Akamai Technologies Inc. | Add +1.2% | 0.69% | +0.03 |
| UNP Union Pacific Corp. | Add +0.8% | 1.75% | +0.03 |
| SCHM Schwab US Mid Cap ETF | Add +3.1% | 1.18% | +0.02 |
| SCHX Schwab US Large-Cap ETF | Add +3.2% | 2.46% | +0.02 |
| SCHA Schwab US Small-Cap ETF | Add +0.1% | 0.40% | +0.00 |
| VMI Valmont Industries | Add +2.2% | 0.50% | −0.00 |
| CRM Salesforce Inc. | Add +1.3% | 1.44% | −0.00 |
| LHX L3HARRIS Technologies Inc. | Add +1.2% | 0.55% | −0.00 |
| EXPD Expeditors Intl Wash Inc. | Add +1.2% | 0.49% | −0.01 |
| IWL iShares Russell Top 200 ETF | Add +2.7% | 2.27% | −0.01 |
| MURA Mural Oncology PLC | Add +1.0% | 0.11% | −0.01 |
| SRCL Stericycle Inc. | Add +0.4% | 0.37% | −0.01 |
| SWKS Skyworks Solutions Inc. | Add +2.2% | 0.25% | −0.03 |
| LULU Lululemon Athletica Inc. | Add +2.4% | 0.26% | −0.04 |
| CTRA Coterra Energy Inc. | Add +2.3% | 0.28% | −0.05 |
| IONS Ionis Pharmaceuticals Inc. | Add +1.5% | 0.28% | −0.08 |
| PANW Palo Alto Networks Inc. | Add +0.3% | 1.89% | −0.13 |
| NVDA Nvidia Corp. | Add +0.2% | 3.30% | −0.32 |
| GOOGL Alphabet Inc. Class A | Add +2.9% | 2.85% | −0.44 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +0.1% | 1.70% | −0.50 |
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 |