Nicollet Investment Management, Inc. Diversified Active

CIK: 0001729048 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 11, 2026

Total Value ($000): $316 (100.0% shares, 0.0% debt)

Holdings (74)

New Positions (6)

RSP Invsc SP 500 Equal ETF 2.7%

Value ($000) $8 Shares 43,943 Est. Cost $0.19 Unrealized —

BSX Boston Scientific Co 1.5%

Value ($000) $5 Shares 49,525 Est. Cost $98.04 Unrealized 0.0%

ALGN Align Technology Inc 0.3%

Value ($000) $1 Shares 6,292 Est. Cost $143.30 Unrealized 0.0%

LYFT Lyft Inc Cl A 0.3%

Value ($000) $1 Shares 47,853 Est. Cost $20.79 Unrealized 0.0%

MRNA Moderna Inc 0.3%

Value ($000) $1 Shares 30,413 Est. Cost $27.17 Unrealized 0.0%

LLY Eli Lilly 0.1%

Value ($000) $0 Shares 214 Est. Cost $955.55 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RSP	Invsc SP 500 Equal ETF	43,943	$8	2.7%	$0.19	—	ETF	46137V357
BSX	Boston Scientific Co	49,525	$5	1.5%	$98.04	0.0%	COM	101137107
ALGN	Align Technology Inc	6,292	$1	0.3%	$143.30	0.0%	COM	016255101
LYFT	Lyft Inc Cl A	47,853	$1	0.3%	$20.79	0.0%	COM	55087P104
MRNA	Moderna Inc	30,413	$1	0.3%	$27.17	0.0%	COM	60770K107
LLY	Eli Lilly	214	$0	0.1%	$955.55	0.0%	COM	532457108

Increased Positions (4)

MDY Spdr S&P Midcap 400 ETF 1.6%

Value ($000) $5 (+592.5%) Shares 8,448 (+584.6%) Est. Cost $49.75 Unrealized —

EQIX Equinix, Inc 2.0%

Value ($000) $6 (+16.2%) Shares 8,081 (+18.8%) Est. Cost $667.22 Unrealized +17.1%

NOW Servicenow, Inc 1.0%

Value ($000) $3 (-15.8%) Shares 21,045 (+405.6%) Est. Cost $144.44 Unrealized +18.8%

DINO HF Sinclair Corp 0.2%

Value ($000) $1 (-11.1%) Shares 13,436 (+1.0%) Est. Cost $33.98 Unrealized +50.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MDY	Spdr S&P Midcap 400 ETF	8,448 (+584.6%)	$5 (+592.5%)	1.6%	$49.75	—	ETF	78467Y107
EQIX	Equinix, Inc	8,081 (+18.8%)	$6 (+16.2%)	2.0%	$667.22	+17.1%	COM	29444U700
NOW	Servicenow, Inc	21,045 (+405.6%)	$3 (-15.8%)	1.0%	$144.44	+18.8%	COM	81762P102
DINO	HF Sinclair Corp	13,436 (+1.0%)	$1 (-11.1%)	0.2%	$33.98	+50.9%	COM	403949100

Exited Positions (3)

SPSC SPS Commerce Inc 0.2%

Value ($000) $1 Shares 5,428 Est. Cost $157.21 Unrealized -41.0%

CAVA Cava Group Inc 0.2%

Value ($000) $1 Shares 8,624 Est. Cost $108.42 Unrealized -48.6%

LULU Lululemon Athletica Inc 0.1%

Value ($000) $0 Shares 2,629 Est. Cost $331.45 Unrealized -45.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPSC	SPS Commerce Inc	5,428	$1	0.2%	$157.21	-41.0%	—	78463M107
CAVA	Cava Group Inc	8,624	$1	0.2%	$108.42	-48.6%	—	148929102
LULU	Lululemon Athletica Inc	2,629	$0	0.1%	$331.45	-45.3%	—	550021109

Decreased Positions (19)

MSFT Microsoft Corp 6.9%

Value ($000) $22 (-15.7%) Shares 44,826 (-9.8%) Est. Cost $91.83 Unrealized +445.1%

PANW Palo Alto Networks Inc 1.0%

Value ($000) $3 (-53.6%) Shares 16,399 (-48.7%) Est. Cost $132.85 Unrealized +51.9%

FISV Fiserv Inc 0.4%

Value ($000) $1 (-73.2%) Shares 17,506 (-48.5%) Est. Cost $86.58 Unrealized -3.1%

GOOG Alphabet Inc Cl C 6.4%

Value ($000) $20 (+16.5%) Shares 64,210 (-9.6%) Est. Cost $107.82 Unrealized +165.6%

GOOGL Alphabet Inc Cl A 4.9%

Value ($000) $15 (+18.7%) Shares 49,259 (-7.8%) Est. Cost $115.98 Unrealized +146.3%

NVO Novo-Nordisk AS 0.3%

Value ($000) $1 (-51.3%) Shares 20,572 (-46.9%) Est. Cost $0.12 Unrealized —

NVDA Nvidia 4.1%

Value ($000) $13 (-7.8%) Shares 68,622 (-7.8%) Est. Cost $96.31 Unrealized +93.3%

SYY Sysco Corp. 0.6%

Value ($000) $2 (-15.5%) Shares 26,620 (-5.6%) Est. Cost $73.91 Unrealized +2.2%

SLB Schlumberger LTD 1.4%

Value ($000) $4 (+8.6%) Shares 117,204 (-2.8%) Est. Cost $36.14 Unrealized -0.2%

EOG E O G Resources Inc. 0.7%

Value ($000) $2 (-12.3%) Shares 21,496 (-6.4%) Est. Cost $93.79 Unrealized +14.3%

CRM Salesforce.com 1.2%

Value ($000) $4 (+8.2%) Shares 14,381 (-3.2%) Est. Cost $267.18 Unrealized -7.1%

AKAM Akamai Technologies Inc 0.5%

Value ($000) $2 (+12.3%) Shares 19,682 (-2.4%) Est. Cost $64.57 Unrealized +27.4%

SBUX Starbucks Corp 0.6%

Value ($000) $2 (-7.2%) Shares 24,164 (-6.8%) Est. Cost $92.07 Unrealized -8.7%

ALKS Alkermes Plc 0.4%

Value ($000) $1 (-7.7%) Shares 44,479 (-1.1%) Est. Cost $39.11 Unrealized -23.4%

ACN Accenture PLC CL A 1.1%

Value ($000) $3 (+3.2%) Shares 12,442 (-5.1%) Est. Cost $304.98 Unrealized -16.7%

COST Costco Wholesale Corp 0.1%

Value ($000) $0 (-9.2%) Shares 403 (-2.4%) Est. Cost $614.19 Unrealized +47.5%

SMG The Scotts Miracle-Gro Company 0.2%

Value ($000) $1 (-2.0%) Shares 12,030 (-4.3%) Est. Cost $57.17 Unrealized -3.5%

BRK/B Berkshire Hathaway Cl B 0.1%

Value ($000) $0 (-2.6%) Shares 587 (-2.5%) Est. Cost $486.15 Unrealized +2.3%

SOLV Solventum Corp 0.2%

Value ($000) $1 (+1.2%) Shares 7,621 (-6.8%) Est. Cost $61.18 Unrealized +25.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp	44,826 (-9.8%)	$22 (-15.7%)	6.9%	$91.83	+445.1%	COM	594918104
PANW	Palo Alto Networks Inc	16,399 (-48.7%)	$3 (-53.6%)	1.0%	$132.85	+51.9%	COM	697435105
FISV	Fiserv Inc	17,506 (-48.5%)	$1 (-73.2%)	0.4%	$86.58	-3.1%	COM	337738108
GOOG	Alphabet Inc Cl C	64,210 (-9.6%)	$20 (+16.5%)	6.4%	$107.82	+165.6%	COM	02079K107
GOOGL	Alphabet Inc Cl A	49,259 (-7.8%)	$15 (+18.7%)	4.9%	$115.98	+146.3%	COM	02079K305
NVO	Novo-Nordisk AS	20,572 (-46.9%)	$1 (-51.3%)	0.3%	$0.12	—	COM	670100205
NVDA	Nvidia	68,622 (-7.8%)	$13 (-7.8%)	4.1%	$96.31	+93.3%	COM	67066G104
SYY	Sysco Corp.	26,620 (-5.6%)	$2 (-15.5%)	0.6%	$73.91	+2.2%	COM	871829107
SLB	Schlumberger LTD	117,204 (-2.8%)	$4 (+8.6%)	1.4%	$36.14	-0.2%	COM	806857108
EOG	E O G Resources Inc.	21,496 (-6.4%)	$2 (-12.3%)	0.7%	$93.79	+14.3%	COM	26875P101
CRM	Salesforce.com	14,381 (-3.2%)	$4 (+8.2%)	1.2%	$267.18	-7.1%	COM	79466L302
AKAM	Akamai Technologies Inc	19,682 (-2.4%)	$2 (+12.3%)	0.5%	$64.57	+27.4%	COM	00971T101
SBUX	Starbucks Corp	24,164 (-6.8%)	$2 (-7.2%)	0.6%	$92.07	-8.7%	COM	855244109
ALKS	Alkermes Plc	44,479 (-1.1%)	$1 (-7.7%)	0.4%	$39.11	-23.4%	COM	G01767105
ACN	Accenture PLC CL A	12,442 (-5.1%)	$3 (+3.2%)	1.1%	$304.98	-16.7%	COM	G1151C101
COST	Costco Wholesale Corp	403 (-2.4%)	$0 (-9.2%)	0.1%	$614.19	+47.5%	COM	22160K105
SMG	The Scotts Miracle-Gro Company	12,030 (-4.3%)	$1 (-2.0%)	0.2%	$57.17	-3.5%	COM	810186106
BRK/B	Berkshire Hathaway Cl B	587 (-2.5%)	$0 (-2.6%)	0.1%	$486.15	+2.3%	COM	084670702
SOLV	Solventum Corp	7,621 (-6.8%)	$1 (+1.2%)	0.2%	$61.18	+25.2%	COM	83444M101

Unchanged Positions (45)

ORCL Oracle Corp 2.4%

Value ($000) $7 Shares 38,204 Est. Cost $74.67 Unrealized +218.8%

META Meta Platforms Inc Cl A 4.8%

Value ($000) $15 Shares 22,800 Est. Cost $236.41 Unrealized +182.3%

AAPL Apple Computer 6.5%

Value ($000) $21 Shares 76,092 Est. Cost $91.94 Unrealized +191.9%

AMZN Amazon Com Inc. 7.2%

Value ($000) $23 Shares 99,025 Est. Cost $126.81 Unrealized +80.4%

UBER Uber Technologies 1.7%

Value ($000) $5 Shares 65,856 Est. Cost $70.57 Unrealized +27.6%

RMD Resmed Inc 2.0%

Value ($000) $6 Shares 25,677 Est. Cost $180.21 Unrealized +41.7%

FAST Fastenal Company 1.0%

Value ($000) $3 Shares 76,846 Est. Cost $27.10 Unrealized +55.1%

GWW Grainger W W Inc 2.9%

Value ($000) $9 Shares 8,925 Est. Cost $272.96 Unrealized +255.0%

TMO Thermo Fisher Scientific 1.0%

Value ($000) $3 Shares 5,700 Est. Cost $538.99 Unrealized +4.9%

HD Home Depot Inc. 0.9%

Value ($000) $3 Shares 8,113 Est. Cost $350.97 Unrealized +3.9%

V Visa Inc 3.9%

Value ($000) $12 Shares 35,333 Est. Cost $124.65 Unrealized +173.1%

UTHR United Therapeutics 0.9%

Value ($000) $3 Shares 5,931 Est. Cost $155.75 Unrealized +199.0%

CB Chubb Ltd F 1.3%

Value ($000) $4 Shares 13,016 Est. Cost $135.31 Unrealized +116.1%

TJX TJX Cos Inc New 1.6%

Value ($000) $5 Shares 32,241 Est. Cost $58.23 Unrealized +153.6%

EXPD Expeditors Int'l WA 0.5%

Value ($000) $2 Shares 11,115 Est. Cost $66.58 Unrealized +103.7%

FFIV F5 Networks, Inc 0.3%

Value ($000) $1 Shares 4,321 Est. Cost $197.87 Unrealized +36.0%

IONS Ionis Pharmaceuticals Inc 0.5%

Value ($000) $2 Shares 20,523 Est. Cost $48.25 Unrealized +56.0%

PYPL Paypal Holdings Inc 0.5%

Value ($000) $2 Shares 28,453 Est. Cost $74.35 Unrealized -12.8%

KNX Knight Swift Transportation 0.3%

Value ($000) $1 Shares 17,977 Est. Cost $39.73 Unrealized +17.7%

GNRC Generac Holdings Inc 0.3%

Value ($000) $1 Shares 7,734 Est. Cost $118.92 Unrealized +35.7%

IWL Ishares Russell Top 200 ETF 2.6%

Value ($000) $8 Shares 47,632 Est. Cost $43.64 Unrealized —

KO Coca Cola Co. 1.3%

Value ($000) $4 Shares 60,822 Est. Cost $37.88 Unrealized +83.2%

MMM 3M Company 2.0%

Value ($000) $6 Shares 39,283 Est. Cost $78.72 Unrealized +107.3%

ECL Ecolab Inc. 1.7%

Value ($000) $5 Shares 20,195 Est. Cost $145.64 Unrealized +82.4%

ULTA Ulta Beauty Inc 0.6%

Value ($000) $2 Shares 3,187 Est. Cost $381.12 Unrealized +44.2%

SCHX Schwab U.S. Large Cap ETF 2.5%

Value ($000) $8 Shares 293,530 Est. Cost $19.56 Unrealized —

UNH Unitedhealth Group Inc 0.8%

Value ($000) $3 Shares 7,824 Est. Cost $212.07 Unrealized +59.0%

CTRA Coterra Energy Inc 0.3%

Value ($000) $1 Shares 35,374 Est. Cost $20.95 Unrealized +19.8%

SWKS Skyworks Solutions Inc 0.1%

Value ($000) $0 Shares 6,905 Est. Cost $88.80 Unrealized -21.8%

VMI Valmont Inds Inc 0.7%

Value ($000) $2 Shares 5,169 Est. Cost $185.14 Unrealized +119.8%

LHX L3 Harris Technologies Inc 0.6%

Value ($000) $2 Shares 6,884 Est. Cost $184.16 Unrealized +56.6%

GLD Spdr Gold TR Gold Shs 0.2%

Value ($000) $1 Shares 1,575 Est. Cost $136.81 Unrealized —

UNP Union Pacific Corp 1.4%

Value ($000) $4 Shares 19,357 Est. Cost $154.79 Unrealized +46.9%

XEL XCEL Energy Inc 0.2%

Value ($000) $1 Shares 7,011 Est. Cost $60.65 Unrealized +29.1%

AVGO Broadcom Inc 0.2%

Value ($000) $1 Shares 1,720 Est. Cost $157.41 Unrealized +126.8%

SCHM Schwab U.S. Mid Cap ETF 1.2%

Value ($000) $4 Shares 122,252 Est. Cost $16.16 Unrealized —

IVV IShares Core S&P 500 ETF 0.3%

Value ($000) $1 Shares 1,485 Est. Cost $0.47 Unrealized —

SPY SPDR S&P 500 ETF 0.3%

Value ($000) $1 Shares 1,360 Est. Cost $267.83 Unrealized —

SCHA Schwab US Small Cap ETF 0.4%

Value ($000) $1 Shares 42,558 Est. Cost $30.14 Unrealized —

FIS FIS 0.4%

Value ($000) $1 Shares 18,677 Est. Cost $80.55 Unrealized -18.5%

IWM IShares Tr Russell 2000 ETF 0.1%

Value ($000) $0 Shares 1,599 Est. Cost $150.70 Unrealized —

VTI Vanguard Total Stock Market ETF 0.1%

Value ($000) $0 Shares 881 Est. Cost $0.24 Unrealized —

RDN Radian Group Inc 0.3%

Value ($000) $1 Shares 30,034 Est. Cost $18.20 Unrealized +91.0%

MDT Medtronic Inc 0.1%

Value ($000) $0 Shares 3,111 Est. Cost $83.50 Unrealized +16.3%

IJR Ishares Core S&P Small Cap ETF 0.1%

Value ($000) $0 Shares 1,885 Est. Cost $0.11 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ORCL	Oracle Corp	38,204	$7	2.4%	$74.67	+218.8%	COM	68389X105
META	Meta Platforms Inc Cl A	22,800	$15	4.8%	$236.41	+182.3%	COM	30303M102
AAPL	Apple Computer	76,092	$21	6.5%	$91.94	+191.9%	COM	037833100
AMZN	Amazon Com Inc.	99,025	$23	7.2%	$126.81	+80.4%	COM	023135106
UBER	Uber Technologies	65,856	$5	1.7%	$70.57	+27.6%	COM	90353T100
RMD	Resmed Inc	25,677	$6	2.0%	$180.21	+41.7%	COM	761152107
FAST	Fastenal Company	76,846	$3	1.0%	$27.10	+55.1%	COM	311900104
GWW	Grainger W W Inc	8,925	$9	2.9%	$272.96	+255.0%	COM	384802104
TMO	Thermo Fisher Scientific	5,700	$3	1.0%	$538.99	+4.9%	COM	883556102
HD	Home Depot Inc.	8,113	$3	0.9%	$350.97	+3.9%	COM	437076102
V	Visa Inc	35,333	$12	3.9%	$124.65	+173.1%	COM	92826C839
UTHR	United Therapeutics	5,931	$3	0.9%	$155.75	+199.0%	COM	91307C102
CB	Chubb Ltd F	13,016	$4	1.3%	$135.31	+116.1%	COM	H1467J104
TJX	TJX Cos Inc New	32,241	$5	1.6%	$58.23	+153.6%	COM	872540109
EXPD	Expeditors Int'l WA	11,115	$2	0.5%	$66.58	+103.7%	COM	302130109
FFIV	F5 Networks, Inc	4,321	$1	0.3%	$197.87	+36.0%	COM	315616102
IONS	Ionis Pharmaceuticals Inc	20,523	$2	0.5%	$48.25	+56.0%	COM	462222100
PYPL	Paypal Holdings Inc	28,453	$2	0.5%	$74.35	-12.8%	COM	70450Y103
KNX	Knight Swift Transportation	17,977	$1	0.3%	$39.73	+17.7%	COM	499049104
GNRC	Generac Holdings Inc	7,734	$1	0.3%	$118.92	+35.7%	COM	368736104
IWL	Ishares Russell Top 200 ETF	47,632	$8	2.6%	$43.64	—	ETF	464289446
KO	Coca Cola Co.	60,822	$4	1.3%	$37.88	+83.2%	COM	191216100
MMM	3M Company	39,283	$6	2.0%	$78.72	+107.3%	COM	88579Y101
ECL	Ecolab Inc.	20,195	$5	1.7%	$145.64	+82.4%	COM	278865100
ULTA	Ulta Beauty Inc	3,187	$2	0.6%	$381.12	+44.2%	COM	90384S303
SCHX	Schwab U.S. Large Cap ETF	293,530	$8	2.5%	$19.56	—	ETF	808524201
UNH	Unitedhealth Group Inc	7,824	$3	0.8%	$212.07	+59.0%	COM	91324P102
CTRA	Coterra Energy Inc	35,374	$1	0.3%	$20.95	+19.8%	COM	127097103
SWKS	Skyworks Solutions Inc	6,905	$0	0.1%	$88.80	-21.8%	COM	83088M102
VMI	Valmont Inds Inc	5,169	$2	0.7%	$185.14	+119.8%	COM	920253101
LHX	L3 Harris Technologies Inc	6,884	$2	0.6%	$184.16	+56.6%	COM	502431109
GLD	Spdr Gold TR Gold Shs	1,575	$1	0.2%	$136.81	—	COM	78463V107
UNP	Union Pacific Corp	19,357	$4	1.4%	$154.79	+46.9%	COM	907818108
XEL	XCEL Energy Inc	7,011	$1	0.2%	$60.65	+29.1%	COM	98389B100
AVGO	Broadcom Inc	1,720	$1	0.2%	$157.41	+126.8%	COM	11135F101
SCHM	Schwab U.S. Mid Cap ETF	122,252	$4	1.2%	$16.16	—	ETF	808524508
IVV	IShares Core S&P 500 ETF	1,485	$1	0.3%	$0.47	—	ETF	464287200
SPY	SPDR S&P 500 ETF	1,360	$1	0.3%	$267.83	—	ETF	78462F103
SCHA	Schwab US Small Cap ETF	42,558	$1	0.4%	$30.14	—	ETF	808524607
FIS	FIS	18,677	$1	0.4%	$80.55	-18.5%	COM	31620M106
IWM	IShares Tr Russell 2000 ETF	1,599	$0	0.1%	$150.70	—	ETF	464287655
VTI	Vanguard Total Stock Market ETF	881	$0	0.1%	$0.24	—	ETF	922908769
RDN	Radian Group Inc	30,034	$1	0.3%	$18.20	+91.0%	COM	750236101
MDT	Medtronic Inc	3,111	$0	0.1%	$83.50	+16.3%	COM	G5960L103
IJR	Ishares Core S&P Small Cap ETF	1,885	$0	0.1%	$0.11	—	ETF	464287804