Latest Nicholas Investment Partners, LP Stock Portfolio

Nicholas Investment Partners, LP Performance:

2025 Q4: 4.24%YTD: 26.68%2024: 25.52%

Performance for 2025 Q4 is 4.24%, and YTD is 26.68%, and 2024 is 25.52%.

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 2026-02-13, the fund reported it's updated stock portfolio. In the 13F Holdings report, Nicholas Investment Partners, LP reported an equity portfolio of $1.4 Billions as of 31 Dec, 2025.

The top stock holdings of Nicholas Investment Partners, LP are BWXT, INSM, KTOS. The fund has invested 3.3% of it's portfolio in BWX TECHNOLOGIES INC and 2.3% of portfolio in INSMED INC.

The fund managers got completely rid off MR COOPER GROUP INC (COOP), MOELIS & CO (MC) and RAMACO RES INC (METC) stocks. They significantly reduced their stock positions in REV GROUP INC (REVG), INTUITIVE SURGICAL INC (ISRG) and XYLEM INC (XYL). Nicholas Investment Partners, LP opened new stock positions in MADDEN STEVEN LTD (SHOO), ABERCROMBIE & FITCH CO (ANF) and CENTURY ALUM CO (CENX). The fund showed a lot of confidence in some stocks as they added substantially to UNITED THERAPEUTICS CORP DEL (UTHR), ABIVAX SA and WINGSTOP INC (WING).

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

Our best estimate is that Nicholas Investment Partners, LP made a return of 4.24% in the last quarter. In trailing 12 months, it's portfolio return was 26.68%.

Performance
S&P 500

New Buys

Ticker	$ Bought
madden steven ltd	17,575,200
abercrombie & fitch co	16,387,900
century alum co	11,399,800
apogee therapeutics inc	8,523,500
repligen corp	7,702,120
vera therapeutics inc	7,333,180
sitime corp	7,126,670
terns pharmaceuticals inc	6,697,550

New stocks bought by Nicholas Investment Partners, LP

Additions

Ticker	% Inc.
united therapeutics corp del	478
abivax sa	327
wingstop inc	299
wynn resorts ltd	288
ralph lauren corp	238
rambus inc del	187
tfi intl inc	178
lendingclub corp	144

Additions to existing portfolio by Nicholas Investment Partners, LP

Reductions

Ticker	% Reduced
rev group inc	-88.07
intuitive surgical inc	-87.35
xylem inc	-79.59
ishares tr	-77.62
ares management corporation	-64.66
mercadolibre inc	-64.5
national fuel gas co	-60.8
rush street interactive inc	-57.85

Nicholas Investment Partners, LP reduced stake in above stock

Sold off

Ticker	$ Sold
draftkings inc new	-3,845,790
cloudflare inc	-5,263,080
live nation entertainment in	-4,839,330
itron inc	-2,292,000
encore energy corp	-843,960
ramaco res inc	-8,074,960
gates indl corp plc	-6,015,200
oric pharmaceuticals inc	-2,648,820

Nicholas Investment Partners, LP got rid off the above stocks

Sector Distribution

Nicholas Investment Partners, LP has about 18.6% of it's holdings in Technology sector.

Sector	%
Technology	18.6
Healthcare	17.6
Industrials	17.3
Others	15.2
Consumer Cyclical	12.4
Financial Services	9.5
Energy	4.9
Real Estate	2.3

Market Cap. Distribution

Nicholas Investment Partners, LP has about 51.1% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	38.1
MID-CAP	29.1
UNALLOCATED	15.2
MEGA-CAP	13
SMALL-CAP	4.6

Stocks belong to which Index?

About 69.1% of the stocks held by Nicholas Investment Partners, LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	48.5
Others	30.9
S&P 500	20.6

Top 5 Winners (%)		%
RVMD	revolution medicines inc	61.6 %
GH	guardant health inc	56.3 %
PL	planet labs pbc	49.9 %
BBIO	bridgebio pharma inc	45.7 %
	rocket lab corp	44.0 %

Top 5 Winners ($)		$
RVMD	revolution medicines inc	9.6 M
BBIO	bridgebio pharma inc	6.8 M
INSM	insmed inc	5.4 M
AXSM	axsome therapeutics inc	4.3 M
	rocket lab corp	3.9 M

Top 5 Losers (%)		%
WWW	wolverine world wide inc	-33.8 %
ALCC	oklo inc	-27.4 %
ORCL	oracle corp	-23.6 %
CELH	celsius hldgs inc	-20.4 %
NFLX	netflix inc	-19.4 %

Top 5 Losers ($)		$
KTOS	kratos defense & sec solutio	-6.2 M
BWXT	bwx technologies inc	-3.0 M
WWW	wolverine world wide inc	-2.4 M
ROAD	construction partners inc	-2.0 M
LEU	centrus energy corp	-1.7 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 178 stocks in it's portfolio. About 19.3% of the portfolio is in top 10 stocks. KTOS proved to be the most loss making stock for the portfolio. RVMD was the most profitable stock for Nicholas Investment Partners, LP last quarter.

Last Reported on: 13 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple inc	0.24	12,364	3,361,280	unchanged	0.00

ACLX	arcellx inc	0.00	0.00	0.00	sold off	-100

ADMA	adma biologics inc	0.00	0.00	0.00	sold off	-100

AFRM	affirm hldgs inc	0.41	5,100,000	5,643,150	new

AFRM	affirm hldgs inc	0.05	8,495	632,283	added	127

AKRO	akero therapeutics inc	0.00	0.00	0.00	sold off	-100

ALCC	oklo inc	0.09	16,496	1,183,750	reduced	-46.86

ALNY	alnylam pharmaceuticals inc	0.34	3,165,000	4,653,500	unchanged	0.00

AMD	advanced micro devices inc	0.03	1,923	411,830	new

AMZN	amazon com inc	1.17	69,325	16,001,600	added	7.86

ANET	arista networks inc	0.30	31,886	4,178,020	unchanged	0.00

ANF	abercrombie & fitch co	1.19	130,197	16,387,900	new

APLD	applied digital corp	0.18	102,393	2,510,680	reduced	-50.99

APPF	appfolio inc	0.67	39,591	9,210,850	added	6.19

ARES	ares management corporation	0.30	25,622	4,141,280	reduced	-64.66

ARGX	argenx se	0.51	8,254	6,941,200	unchanged	0.00

ASML	asml holding n v	0.15	1,878	2,009,200	added	22.66

ASND	ascendis pharma a/s	0.62	6,035,000	8,549,780	unchanged	0.00

ASND	ascendis pharma a/s	0.10	6,265	1,335,950	added	45.36

AVAV	aerovironment inc	0.22	2,750,000	2,983,750	unchanged	0.00