Latest Nicholas Investment Partners, LP Stock Portfolio

Nicholas Investment Partners, LP Performance:

2025 Q3: 10.48%YTD: 16.21%2024: 20.91%

Performance for 2025 Q3 is 10.48%, and YTD is 16.21%, and 2024 is 20.91%.

About Nicholas Investment Partners, LP and 13F Hedge Fund Stock Holdings

Nicholas Investment Partners, LP is a hedge fund based in RANCHO SANTA FE, CA. On 30-Mar-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $1.2 Billions. In it's latest 13F Holdings report, Nicholas Investment Partners, LP reported an equity portfolio of $1.3 Billions as of 30 Sep, 2025.

The top stock holdings of Nicholas Investment Partners, LP are BWXT, KTOS, RSI. The fund has invested 3.7% of it's portfolio in BWX TECHNOLOGIES INC and 2.9% of portfolio in KRATOS DEFENSE & SEC SOLUTIO.

The fund managers got completely rid off VERONA PHARMA PLC (VRNA), VANGUARD WORLD FD (VAW) and SPROUTS FMRS MKT INC (SFM) stocks. They significantly reduced their stock positions in ADMA BIOLOGICS INC (ADMA), MISTER CAR WASH INC (MCW) and CASELLA WASTE SYS INC (CWST). Nicholas Investment Partners, LP opened new stock positions in CONSTRUCTION PARTNERS INC (ROAD), MODINE MFG CO (MOD) and BLOOM ENERGY CORP (BE). The fund showed a lot of confidence in some stocks as they added substantially to MOELIS & CO (MC), TESLA INC (TSLA) and ORIC PHARMACEUTICALS INC (ORIC).

Nicholas Investment Partners, LP Annual Return Estimates Vs S&P 500

Our best estimate is that Nicholas Investment Partners, LP made a return of 10.48% in the last quarter. In trailing 12 months, it's portfolio return was 17.86%.

New Buys

Ticker	$ Bought
construction partners inc	15,928,000
snowflake inc	10,488,800
modine mfg co	9,408,720
bloom energy corp	9,212,550
varonis sys inc	6,167,800
gates indl corp plc	6,015,200
merus n v	5,795,690
powell inds inc	5,323,810

New stocks bought by Nicholas Investment Partners, LP

Additions

Ticker	% Inc.
moelis & co	394
tesla inc	372
oric pharmaceuticals inc	197
hf sinclair corp	174
credo technology group holdi	162
revolution medicines inc	136
on semiconductor corp	106
amer sports inc	105

Additions to existing portfolio by Nicholas Investment Partners, LP

Reductions

Ticker	% Reduced
adma biologics inc	-83.81
mister car wash inc	-78.88
casella waste sys inc	-66.89
descartes sys group inc	-59.49
saia inc	-59.09
guardant health inc	-58.67
northern oil & gas inc	-53.49
cheesecake factory inc	-48.83

Nicholas Investment Partners, LP reduced stake in above stock

Sold off

Ticker	$ Sold
insulet corp	-5,512,400
rivian automotive inc	-1,727,620
shake shack inc	-1,084,150
acv auctions inc	-6,714,720
aris water solutions inc	-8,805,490
qxo inc	-5,783,960
ars pharmaceuticals inc	-4,451,620
olo inc	-1,954,220

Nicholas Investment Partners, LP got rid off the above stocks

Sector Distribution

Nicholas Investment Partners, LP has about 22.5% of it's holdings in Industrials sector.

Sector	%
Industrials	22.5
Technology	19.2
Others	14
Healthcare	12.6
Financial Services	11.5
Consumer Cyclical	10.2
Energy	6.3
Real Estate	2.3

Market Cap. Distribution

Nicholas Investment Partners, LP has about 30.6% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	40.5
LARGE-CAP	18.9
UNALLOCATED	14.4
SMALL-CAP	13.3
MEGA-CAP	11.7
MICRO-CAP	1.2

Stocks belong to which Index?

About 65.9% of the stocks held by Nicholas Investment Partners, LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	43.8
Others	34.1
S&P 500	22.1

Top 5 Winners (%)		%
PL	planet labs pbc	112.8 %
METC	ramaco res inc	100.6 %
KTOS	kratos defense & sec solutio	94.0 %
UEC	uranium energy corp	90.3 %
LEU	centrus energy corp	69.3 %

Top 5 Winners ($)		$
KTOS	kratos defense & sec solutio	18.4 M
BWXT	bwx technologies inc	10.7 M
INSM	insmed inc	8.5 M
RSI	rush street interactive inc	7.7 M
LEU	centrus energy corp	4.3 M

Top 5 Losers (%)		%
WING	wingstop inc	-25.3 %
PLMR	palomar hldgs inc	-24.3 %
FOUR	shift4 pmts inc	-21.9 %
MSTR	strategy inc	-20.3 %
ADMA	adma biologics inc	-19.5 %

Top 5 Losers ($)		$
ADMA	adma biologics inc	-2.5 M
CWST	casella waste sys inc	-1.9 M
PLMR	palomar hldgs inc	-1.8 M
ISRG	intuitive surgical inc	-1.6 M
WING	wingstop inc	-1.6 M

Nicholas Investment Partners, LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Nicholas Investment Partners, LP

Nicholas Investment Partners, LP has 182 stocks in it's portfolio. About 20.6% of the portfolio is in top 10 stocks. ADMA proved to be the most loss making stock for the portfolio. KTOS was the most profitable stock for Nicholas Investment Partners, LP last quarter.

Last Reported on: 14 Nov, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.24	12,364	3,148,240	reduced	-8.82

ACLX	arcellx inc	0.37	58,894	4,835,200	added	43.41

ACVA	acv auctions inc	0.00	0.00	0.00	sold off	-100

ADMA	adma biologics inc	0.13	116,259	1,704,360	reduced	-83.81

AFRM	affirm hldgs inc	0.02	3,727	272,369	new

AKRO	akero therapeutics inc	0.22	61,612	2,925,340	added	56.01

ALCC	oklo inc	0.26	31,044	3,465,440	added	45.94

ALKT	alkami technology inc	0.00	0.00	0.00	sold off	-100

ALNY	alnylam pharmaceuticals inc	0.40	3,165,000	5,201,680	reduced	-2.62

AMZN	amazon com inc	1.08	64,274	14,112,600	added	0.96

ANET	arista networks inc	0.36	31,886	4,646,110	unchanged	0.00

APLD	applied digital corp	0.37	208,919	4,792,600	new

APP	applovin corp	0.00	0.00	0.00	sold off	-100

APPF	appfolio inc	0.79	37,283	10,277,400	added	2.02

ARES	ares management corporation	0.89	72,500	11,592,000	unchanged	0.00

ARIS	aris water solutions inc	0.00	0.00	0.00	sold off	-100

AVAV	aerovironment inc	0.26	2,750,000	3,407,250	new

AVGO	broadcom inc	1.74	68,761	22,684,900	reduced	-0.66

AXON	axon enterprise inc	0.54	9,788	7,024,260	unchanged	0.00

AXSM	axsome therapeutics inc	0.45	48,657	5,909,390	added	15.43