Latest Nicollet Investment Management, Inc. Stock Portfolio

Nicollet Investment Management, Inc. Performance:

2025 Q4: -2.04%YTD: 5.8%2024: 13.41%

Performance for 2025 Q4 is -2.04%, and YTD is 5.8%, and 2024 is 13.41%.

About Nicollet Investment Management, Inc. and 13F Hedge Fund Stock Holdings

On 2026-02-11, the fund reported it's updated stock portfolio. In the 13F Holdings report, Nicollet Investment Management, Inc. reported an equity portfolio of $316 Millions as of 31 Dec, 2025.

The top stock holdings of Nicollet Investment Management, Inc. are AMZN, MSFT, AAPL. The fund has invested 7.2% of it's portfolio in AMAZON COM INC. and 6.9% of portfolio in MICROSOFT CORP.

The fund managers got completely rid off SPS COMMERCE INC (SPSC), CAVA GROUP INC and LULULEMON ATHLETICA INC (LULU) stocks. They significantly reduced their stock positions in PALO ALTO NETWORKS INC (PANW), FISERV INC and MICROSOFT CORP (MSFT). Nicollet Investment Management, Inc. opened new stock positions in INVSC SP 500 EQUAL ETF (CSD), BOSTON SCIENTIFIC CO (BSX) and ALIGN TECHNOLOGY INC (ALGN). The fund showed a lot of confidence in some stocks as they added substantially to SPDR S&P MIDCAP 400 ETF (MDY), SERVICENOW, INC (NOW) and EQUINIX, INC (EQIX).

Nicollet Investment Management, Inc. Annual Return Estimates Vs S&P 500

Our best estimate is that Nicollet Investment Management, Inc. made a return of -2.04% in the last quarter. In trailing 12 months, it's portfolio return was 5.8%.

Performance
S&P 500

New Buys

Ticker	$ Bought
invsc sp 500 equal etf	8,418,000
boston scientific co	4,722,000
align technology inc	982,000
lyft inc cl a	927,000
moderna inc	897,000
eli lilly	230,000

New stocks bought by Nicollet Investment Management, Inc.

Additions

Ticker	% Inc.
spdr s&p midcap 400 etf	584
servicenow, inc	405
equinix, inc	18.8
hf sinclair corp	1.03
united therapeutics	0.94
radian group inc	0.93
knight swift transportation	0.92
expeditors int'l wa	0.89

Additions to existing portfolio by Nicollet Investment Management, Inc.

Reductions

Ticker	% Reduced
palo alto networks inc	-48.67
fiserv inc	-48.48
novo-nordisk as	-46.86
microsoft corp	-9.76
alphabet inc cl c	-9.6
alphabet inc cl a	-7.83
nvidia	-7.79
starbucks corp	-6.82

Nicollet Investment Management, Inc. reduced stake in above stock

Sold off

Ticker	$ Sold
cava group inc	-521,000
sps commerce inc	-565,000
lululemon athletica inc	-468,000

Nicollet Investment Management, Inc. got rid off the above stocks

Sector Distribution

Nicollet Investment Management, Inc. has about 27.7% of it's holdings in Technology sector.

Sector	%
Technology	27.7
Communication Services	16
Others	13
Consumer Cyclical	10.9
Industrials	9.7
Healthcare	7.9
Financial Services	6.1
Energy	2.6
Consumer Defensive	2.1
Real Estate	2
Basic Materials	1.9

Market Cap. Distribution

Nicollet Investment Management, Inc. has about 83.7% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MEGA-CAP	53.7
LARGE-CAP	30
UNALLOCATED	13
MID-CAP	3.3

Stocks belong to which Index?

About 81.5% of the stocks held by Nicollet Investment Management, Inc. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
S&P 500	81.5
Others	17.8

Top 5 Winners (%)		%
KNX	knight swift transportation	32.1 %
GOOG	alphabet inc cl a	27.6 %
GOOG	alphabet inc cl c	27.5 %
EXPD	expeditors int'l wa	21.4 %
IONS	ionis pharmaceuticals inc	20.9 %

Top 5 Winners ($)		$
GOOG	alphabet inc cl c	4.7 M
GOOG	alphabet inc cl a	3.6 M
AAPL	apple computer	1.3 M
AMZN	amazon com inc.	1.1 M
TMO	thermo fisher scientific	0.5 M

Top 5 Losers (%)		%
NOW	servicenow, inc	-75.0 %
	fiserv inc	-36.3 %
ORCL	oracle corp	-30.7 %
FFIV	f5 networks, inc	-21.0 %
GNRC	generac holdings inc	-18.4 %

Top 5 Losers ($)		$
NOW	servicenow, inc	-9.7 M
ORCL	oracle corp	-3.3 M
META	meta platforms inc cl a	-1.7 M
MSFT	microsoft corp	-1.6 M
	fiserv inc	-1.6 M

Nicollet Investment Management, Inc. Holdings Map

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

Current Stock Holdings of Nicollet Investment Management, Inc.

Nicollet Investment Management, Inc. has 74 stocks in it's portfolio. About 50.1% of the portfolio is in top 10 stocks. NOW proved to be the most loss making stock for the portfolio. GOOG was the most profitable stock for Nicollet Investment Management, Inc. last quarter.

Last Reported on: 11 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAPL	apple computer	6.55	76,092	20,686,000	reduced	-0.59

ACN	accenture plc cl a	1.06	12,442	3,338,000	reduced	-5.12

AKAM	akamai technologies inc	0.54	19,682	1,717,000	reduced	-2.45

ALGN	align technology inc	0.31	6,292	982,000	new

ALKS	alkermes plc	0.39	44,479	1,245,000	reduced	-1.11

AMZN	amazon com inc.	7.23	99,025	22,857,000	added	0.08

AOA	ishares russell top 200 etf	2.57	47,632	8,127,000	added	0.16

AVGO	broadcom inc	0.19	1,720	595,000	unchanged	0.00

BSX	boston scientific co	1.49	49,525	4,722,000	new

CB	chubb ltd f	1.29	13,016	4,063,000	reduced	-0.23

COST	costco wholesale corp	0.11	403	347,000	reduced	-2.42

CRM	salesforce.com	1.21	14,381	3,810,000	reduced	-3.22

CSD	invsc sp 500 equal etf	2.66	43,943	8,418,000	new

CTRA	coterra energy inc	0.30	35,374	931,000	added	0.87

DINO	hf sinclair corp	0.20	13,436	619,000	added	1.03

ECL	ecolab inc.	1.68	20,195	5,302,000	added	0.4

EOG	e o g resources inc.	0.71	21,496	2,257,000	reduced	-6.39

EQIX	equinix, inc	1.96	8,081	6,191,000	added	18.8

EXPD	expeditors int'l wa	0.52	11,115	1,656,000	added	0.89

FAST	fastenal company	0.98	76,846	3,084,000	added	0.27