Nicholas Investment Partners, LP
Long book
$1.22B
Q1 2026
Positions
178
Top-10 weight
22%
concentration
Last quarter
+19.4%
SPY +14.8%
Turnover
29%
of book per quarter
Strategy in plain words
auto-generated from filingsNicholas Investment Partners, LP is an institutional manager, running a $1.22B US long book across 178 positions.
The portfolio is broadly diversified across 178 positions (top 10 only 22%). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: BWX TECHNOLOGIES INC, INSMED INC, KRATOS DEFENSE & SECURITY, GE VERNOVA INC, REVOLUTION MEDICINES INC.
Over the last 9 quarters its long book ran on average 0.7pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.0%
Q2 2024
+6.3%
Q3 2024
+0.8%
Q4 2024
-13.4%
Q1 2025
+16.8%
Q2 2025
+12.6%
Q3 2025
+3.0%
Q4 2025
+2.7%
Q1 2026
+19.4%
Sector allocation
Industrials 30%
Technology 20%
Healthcare 19%
Financials 7%
Services media 5%
Energy 5%
Other 5%
Consumer discretionary 4%
Long book by quarter
What does Nicholas Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BWXT BWX TECHNOLOGIES INC | Industrials | 261.9K | $53.5M | 4.4% | +0.4% |
| INSM INSMED INC | Healthcare | 182.5K | $29.8M | 2.4% | +1.2% |
| KTOS KRATOS DEFENSE & SECURITY | Industrials | 390.9K | $27.6M | 2.3% | -0.3% |
| GEV GE VERNOVA INC | Industrials | 30.4K | $26.5M | 2.2% | Held |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 261.2K | $25.4M | 2.1% | -17.8% |
| MOD MODINE MANUFACTURING CO | Industrials | 106.1K | $23.0M | 1.9% | +51.5% |
| BBIO BRIDGEBIO PHARMA INC | Healthcare | 298.9K | $22.2M | 1.8% | +5.0% |
| NVDA NVIDIA CORP | Technology | 118.3K | $20.6M | 1.7% | -2.9% |
| STRL STERLING INFRASTRUCTURE INC | Industrials | 49.7K | $20.2M | 1.7% | New |
| CCJ CAMECO CORP | Materials | 173.4K | $18.8M | 1.5% | Held |
| LINC LINCOLN EDUCATIONAL SERVICES | Services media | 459.5K | $18.7M | 1.5% | New |
| XOM EXXON MOBIL CORP | Energy | 105.5K | $17.9M | 1.5% | Held |
| CENX CENTURY ALUMINUM COMPANY | Industrials | 292.4K | $17.2M | 1.4% | +0.5% |
| CRS CARPENTER TECHNOLOGY | Industrials | 41.8K | $16.5M | 1.3% | -0.1% |
| NUVL NUVALENT INC-A | Healthcare | 159.7K | $16.4M | 1.3% | -0.5% |
| WTFC WINTRUST FINANCIAL CORP | Financials | 116.8K | $16.2M | 1.3% | -0.6% |
| AVGO BROADCOM INC | Technology | 52.4K | $16.2M | 1.3% | -23.8% |
| PARR PAR PACIFIC HOLDINGS INC | Energy | 250.8K | $15.7M | 1.3% | -24.8% |
| CALY CALLAWAY GOLF COMPANY | Other | 1.1M | $15.6M | 1.3% | New |
| FTAI FTAI AVIATION LTD | Services media | 62.7K | $15.4M | 1.3% | +1.4% |
| BE BLOOM ENERGY CORP- A | Industrials | 111.5K | $15.1M | 1.2% | -0.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 70.3K | $14.7M | 1.2% | +1.5% |
| TFII TFI INTERNATIONAL INC | Industrials | 133.6K | $14.5M | 1.2% | +55.4% |
| XENE XENON PHARMACEUTICALS INC | Healthcare | 247.1K | $14.4M | 1.2% | +1.7% |
| AXSM AXSOME THERAPEUTICS INC | Healthcare | 81.5K | $13.8M | 1.1% | -11.0% |
| MPWR MONOLITHIC POWER SYSTEMS INC | Technology | 12.0K | $13.2M | 1.1% | +1.0% |
| LSCC LATTICE SEMICONDUCTOR CORP | Technology | 140.6K | $13.0M | 1.1% | -7.1% |
| AEIS ADVANCED ENERGY INDUSTRIES | Technology | 40.4K | $13.0M | 1.1% | New |
| SPHR SPHERE ENTERTAINMENT CO | Services media | 108.8K | $12.8M | 1.0% | -0.6% |
| XPO XPO INC | Industrials | 63.7K | $12.4M | 1.0% | Held |
| MIRM MIRUM PHARMACEUTICALS INC | Healthcare | 131.3K | $12.1M | 1.0% | -38.5% |
| RSI RUSH STREET INTERACTIVE INC | Services media | 542.7K | $11.8M | 1.0% | -6.5% |
| FN FABRINET | Technology | 21.8K | $11.4M | 0.9% | -21.2% |
| APGE APOGEE THERAPEUTICS INC | Healthcare | 131.0K | $11.0M | 0.9% | +16.0% |
| RKLB ROCKET LAB CORP | Industrials | 171.5K | $11.0M | 0.9% | -7.2% |
| GS GOLDMAN SACHS GROUP INC | Financials | 13.0K | $11.0M | 0.9% | Held |
| MTSI MACOM TECHNOLOGY SOLUTIONS H | Technology | 49.5K | $11.0M | 0.9% | -24.0% |
| ROAD CONSTRUCTION PARTNERS INC-A | Industrials | 97.0K | $10.8M | 0.9% | +4.2% |
| POWL POWELL INDUSTRIES INC | Industrials | 18.5K | $10.0M | 0.8% | +0.1% |
| PL PLANET LABS PBC | Technology | 337.9K | $9.4M | 0.8% | -19.7% |
| SITM SITIME CORP | Technology | 26.8K | $9.3M | 0.8% | +32.8% |
| MSFT MICROSOFT CORP | Technology | 24.4K | $9.0M | 0.7% | -29.3% |
| WMB WILLIAMS COS INC | Utilities | 123.1K | $9.0M | 0.7% | Held |
| BAC BANK OF AMERICA CORP | Financials | 177.3K | $8.6M | 0.7% | -17.6% |
| OSIS OSI SYSTEMS INC | Technology | 31.6K | $8.4M | 0.7% | -35.1% |
| GOOG ALPHABET INC-CL C | Technology | 29.0K | $8.3M | 0.7% | +20.4% |
| CVX CHEVRON CORP | Energy | 40.0K | $8.3M | 0.7% | Held |
| IDYA IDEAYA BIOSCIENCES INC | Healthcare | 248.2K | $8.3M | 0.7% | +29.0% |
| COP CONOCOPHILLIPS | Energy | 62.5K | $8.3M | 0.7% | +212.5% |
| KLAC KLA CORP | Other | 5.5K | $8.2M | 0.7% | +33.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 205 | $1.39B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 205 | $1.37B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 211 | $1.31B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 211 | $1.12B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 192 | $971.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 220 | $1.14B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 218 | $1.09B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 195 | $963.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 201 | $976.3M | canonical | SEC ↗ |
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