# EDGAR Filing Document

**Accession Number:** 0001729048
**File Stem:** 0001729048-26-000001
**Filing Date:** 2026-2
**Character Count:** 10499
**Document Hash:** 64fa5c4217290ebd43d698910afbc831
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001729048-26-000001.hdr.sgml**: 20260211

**ACCESSION NUMBER**: 0001729048-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260211

**DATE AS OF CHANGE**: 20260211

**EFFECTIVENESS DATE**: 20260211

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nicollet Investment Management, Inc.
- **CENTRAL INDEX KEY:** 0001729048

**ORGANIZATION NAME:**
- **EIN:** 411958471
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-18270
- **FILM NUMBER:** 26620683

**BUSINESS ADDRESS:**
- **STREET 1:** 800 NORTH WASHINGTON AVENUE
- **STREET 2:** SUITE 150
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401
- **BUSINESS PHONE:** 6129153033

**MAIL ADDRESS:**
- **STREET 1:** 800 NORTH WASHINGTON AVENUE
- **STREET 2:** SUITE 150
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55401

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Nicollet Investment Management Inc.<br>**Address:** 800 NORTH WASHINGTON AVENUE<br>SUITE 150<br>MINNEAPOLIS, MN 55401

**Form 13F File Number:** 028-18270

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Heidi Garman<br>**Title:** Director of Administration<br>**Phone:** 6129153033

**Signature, Place, and Date of Signing:**

Heidi Garman  Minneapolis, MN  02-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 74

**Form 13F Information Table Value Total:** $315963

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Company | COM | 88579Y101 |  | 6289 | 39283 | SH |  | SOLE |  | 39283 | 0 | 0 |
| Accenture PLC CL A | COM | G1151C101 |  | 3338 | 12442 | SH |  | SOLE |  | 12442 | 0 | 0 |
| Akamai Technologies Inc | COM | 00971T101 |  | 1717 | 19682 | SH |  | SOLE |  | 19682 | 0 | 0 |
| Align Technology Inc | COM | 016255101 |  | 982 | 6292 | SH |  | SOLE |  | 6292 | 0 | 0 |
| Alkermes Plc | COM | G01767105 |  | 1245 | 44479 | SH |  | SOLE |  | 44479 | 0 | 0 |
| Alphabet Inc Cl A | COM | 02079K305 |  | 15418 | 49259 | SH |  | SOLE |  | 49259 | 0 | 0 |
| Alphabet Inc Cl C | COM | 02079K107 |  | 20149 | 64210 | SH |  | SOLE |  | 64210 | 0 | 0 |
| Amazon Com Inc. | COM | 023135106 |  | 22857 | 99025 | SH |  | SOLE |  | 99025 | 0 | 0 |
| Apple Computer | COM | 037833100 |  | 20686 | 76092 | SH |  | SOLE |  | 76092 | 0 | 0 |
| Berkshire Hathaway Cl B | COM | 084670702 |  | 295 | 587 | SH |  | SOLE |  | 587 | 0 | 0 |
| Boston Scientific Co | COM | 101137107 |  | 4722 | 49525 | SH |  | SOLE |  | 49525 | 0 | 0 |
| Broadcom Inc | COM | 11135F101 |  | 595 | 1720 | SH |  | SOLE |  | 1720 | 0 | 0 |
| Chubb Ltd F | COM | H1467J104 |  | 4063 | 13016 | SH |  | SOLE |  | 13016 | 0 | 0 |
| Coca Cola Co. | COM | 191216100 |  | 4252 | 60822 | SH |  | SOLE |  | 60822 | 0 | 0 |
| Costco Wholesale Corp | COM | 22160K105 |  | 347 | 403 | SH |  | SOLE |  | 403 | 0 | 0 |
| Coterra Energy Inc | COM | 127097103 |  | 931 | 35374 | SH |  | SOLE |  | 35374 | 0 | 0 |
| E O G Resources Inc. | COM | 26875P101 |  | 2257 | 21496 | SH |  | SOLE |  | 21496 | 0 | 0 |
| Ecolab Inc. | COM | 278865100 |  | 5302 | 20195 | SH |  | SOLE |  | 20195 | 0 | 0 |
| Eli Lilly | COM | 532457108 |  | 230 | 214 | SH |  | SOLE |  | 214 | 0 | 0 |
| Equinix Inc | COM | 29444U700 |  | 6191 | 8081 | SH |  | SOLE |  | 8081 | 0 | 0 |
| Expeditors Int'l WA | COM | 302130109 |  | 1656 | 11115 | SH |  | SOLE |  | 11115 | 0 | 0 |
| F5 Networks Inc | COM | 315616102 |  | 1103 | 4321 | SH |  | SOLE |  | 4321 | 0 | 0 |
| Fastenal Company | COM | 311900104 |  | 3084 | 76846 | SH |  | SOLE |  | 76846 | 0 | 0 |
| FIS | COM | 31620M106 |  | 1241 | 18677 | SH |  | SOLE |  | 18677 | 0 | 0 |
| Fiserv Inc | COM | 337738108 |  | 1176 | 17506 | SH |  | SOLE |  | 17506 | 0 | 0 |
| Generac Holdings Inc | COM | 368736104 |  | 1055 | 7734 | SH |  | SOLE |  | 7734 | 0 | 0 |
| Grainger W W Inc | COM | 384802104 |  | 9006 | 8925 | SH |  | SOLE |  | 8925 | 0 | 0 |
| HF Sinclair Corp | COM | 403949100 |  | 619 | 13436 | SH |  | SOLE |  | 13436 | 0 | 0 |
| Home Depot Inc. | COM | 437076102 |  | 2792 | 8113 | SH |  | SOLE |  | 8113 | 0 | 0 |
| Invsc SP 500 Equal ETF | ETF | 46137V357 |  | 8418 | 43943 | SH |  | SOLE |  | 43943 | 0 | 0 |
| Ionis Pharmaceuticals Inc | COM | 462222100 |  | 1624 | 20523 | SH |  | SOLE |  | 20523 | 0 | 0 |
| IShares Core S 500 ETF | ETF | 464287200 |  | 1017 | 1485 | SH |  | SOLE |  | 1485 | 0 | 0 |
| Ishares Core S Small Cap ETF | ETF | 464287804 |  | 227 | 1885 | SH |  | SOLE |  | 1885 | 0 | 0 |
| Ishares Russell Top 200 ETF | ETF | 464289446 |  | 8127 | 47632 | SH |  | SOLE |  | 47632 | 0 | 0 |
| IShares Tr Russell 2000 ETF | ETF | 464287655 |  | 394 | 1599 | SH |  | SOLE |  | 1599 | 0 | 0 |
| Knight Swift Transportation | COM | 499049104 |  | 940 | 17977 | SH |  | SOLE |  | 17977 | 0 | 0 |
| L3 Harris Technologies Inc | COM | 502431109 |  | 2021 | 6884 | SH |  | SOLE |  | 6884 | 0 | 0 |
| Lyft Inc Cl A | COM | 55087P104 |  | 927 | 47853 | SH |  | SOLE |  | 47853 | 0 | 0 |
| Medtronic Inc | COM | G5960L103 |  | 299 | 3111 | SH |  | SOLE |  | 3111 | 0 | 0 |
| Meta Platforms Inc Cl A | COM | 30303M102 |  | 15050 | 22800 | SH |  | SOLE |  | 22800 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 21679 | 44826 | SH |  | SOLE |  | 44826 | 0 | 0 |
| Moderna Inc | COM | 60770K107 |  | 897 | 30413 | SH |  | SOLE |  | 30413 | 0 | 0 |
| Novo-Nordisk AS | COM | 670100205 |  | 1047 | 20572 | SH |  | SOLE |  | 20572 | 0 | 0 |
| Nvidia | COM | 67066G104 |  | 12798 | 68622 | SH |  | SOLE |  | 68622 | 0 | 0 |
| Oracle Corp | COM | 68389X105 |  | 7446 | 38204 | SH |  | SOLE |  | 38204 | 0 | 0 |
| Palo Alto Networks Inc | COM | 697435105 |  | 3021 | 16399 | SH |  | SOLE |  | 16399 | 0 | 0 |
| Paypal Holdings Inc | COM | 70450Y103 |  | 1661 | 28453 | SH |  | SOLE |  | 28453 | 0 | 0 |
| Radian Group Inc | COM | 750236101 |  | 1081 | 30034 | SH |  | SOLE |  | 30034 | 0 | 0 |
| Resmed Inc | COM | 761152107 |  | 6185 | 25677 | SH |  | SOLE |  | 25677 | 0 | 0 |
| Salesforce.com | COM | 79466L302 |  | 3810 | 14381 | SH |  | SOLE |  | 14381 | 0 | 0 |
| Schlumberger LTD | COM | 806857108 |  | 4498 | 117204 | SH |  | SOLE |  | 117204 | 0 | 0 |
| Schwab U.S. Large Cap ETF | ETF | 808524201 |  | 7899 | 293530 | SH |  | SOLE |  | 293530 | 0 | 0 |
| Schwab U.S. Mid Cap ETF | ETF | 808524508 |  | 3676 | 122252 | SH |  | SOLE |  | 122252 | 0 | 0 |
| Schwab US Small Cap ETF | ETF | 808524607 |  | 1212 | 42558 | SH |  | SOLE |  | 42558 | 0 | 0 |
| Servicenow Inc | COM | 81762P102 |  | 3224 | 21045 | SH |  | SOLE |  | 21045 | 0 | 0 |
| Skyworks Solutions Inc | COM | 83088M102 |  | 438 | 6905 | SH |  | SOLE |  | 6905 | 0 | 0 |
| Solventum Corp | COM | 83444M101 |  | 604 | 7621 | SH |  | SOLE |  | 7621 | 0 | 0 |
| Spdr Gold TR Gold Shs | COM | 78463V107 |  | 624 | 1575 | SH |  | SOLE |  | 1575 | 0 | 0 |
| SPDR S 500 ETF | ETF | 78462F103 |  | 927 | 1360 | SH |  | SOLE |  | 1360 | 0 | 0 |
| Spdr S Midcap 400 ETF | ETF | 78467Y107 |  | 5097 | 8448 | SH |  | SOLE |  | 8448 | 0 | 0 |
| Starbucks Corp | COM | 855244109 |  | 2035 | 24164 | SH |  | SOLE |  | 24164 | 0 | 0 |
| Sysco Corp. | COM | 871829107 |  | 1962 | 26620 | SH |  | SOLE |  | 26620 | 0 | 0 |
| The Scotts Miracle-Gro Company | COM | 810186106 |  | 702 | 12030 | SH |  | SOLE |  | 12030 | 0 | 0 |
| Thermo Fisher Scientific | COM | 883556102 |  | 3303 | 5700 | SH |  | SOLE |  | 5700 | 0 | 0 |
| TJX Cos Inc New | COM | 872540109 |  | 4953 | 32241 | SH |  | SOLE |  | 32241 | 0 | 0 |
| Uber Technologies | COM | 90353T100 |  | 5381 | 65856 | SH |  | SOLE |  | 65856 | 0 | 0 |
| Ulta Beauty Inc | COM | 90384S303 |  | 1928 | 3187 | SH |  | SOLE |  | 3187 | 0 | 0 |
| Union Pacific Corp | COM | 907818108 |  | 4478 | 19357 | SH |  | SOLE |  | 19357 | 0 | 0 |
| United Therapeutics | COM | 91307C102 |  | 2890 | 5931 | SH |  | SOLE |  | 5931 | 0 | 0 |
| Unitedhealth Group Inc | COM | 91324P102 |  | 2583 | 7824 | SH |  | SOLE |  | 7824 | 0 | 0 |
| Valmont Inds Inc | COM | 920253101 |  | 2080 | 5169 | SH |  | SOLE |  | 5169 | 0 | 0 |
| Vanguard Total Stock Market ETF | ETF | 922908769 |  | 295 | 881 | SH |  | SOLE |  | 881 | 0 | 0 |
| Visa Inc | COM | 92826C839 |  | 12392 | 35333 | SH |  | SOLE |  | 35333 | 0 | 0 |
| XCEL Energy Inc | COM | 98389B100 |  | 518 | 7011 | SH |  | SOLE |  | 7011 | 0 | 0 |

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