Nicholas Investment Partners, LP

Long Only Manager

Nicholas Investment Partners, LP is a Long Only Manager led by Christopher Paul Siriani, reporting $1.2B in AUM as of Q3 2025 with BWXT as the largest holding (4% allocation).

PresidentChristopher Paul Siriani

Portfolio Value: $1.1B
Positions: 182
Top Holding: BWXT at 4.18%
Last Reported: Q3 2025

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Top Holdings

Largest long holdings in Nicholas Investment Partners, LP's portfolio (23.6% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 BWX Technologies BWXT	Aerospace & Defense Industrials	$47.8M	4.18%	-$1.1M Sold	0.28% 259.5K shares	Q3 2023 Held for 2y 2m
2 Kratos Defense & Security Solutions KTOS	Aerospace & Defense Industrials	$37.9M	3.31%	+$543.2K Bought	0.25% 414.5K shares	Q2 2025 Held for 5 months
3 Rush Street Interactive RSI	Gambling, Resorts & Casinos Consumer Cyclical	$28.2M	2.46%	-$123.0K Sold	1.44% 1.4M shares	Q4 2024 Held for 11 months
4 Insmed INSM	Biotechnology Healthcare	$26.0M	2.27%	-$2.2M Sold	0.09% 180.5K shares	Q2 2024 Held for 1y 5m
5 Embraer ERJ	Unknown Unknown	$24.9M	2.17%	+$352.5K Bought	— 411.6K shares	Q1 2024 Held for 1y 8m
6 REV Group REVG	Agricultural - Machinery Industrials	$23.3M	2.04%	-$963.9K Sold	0.84% 411.5K shares	Q1 2024 Held for 1y 8m
7 Nvidia NVDA	Semiconductors Technology	$22.7M	1.99%	-$226.5K Sold	0.00% 121.8K shares	Q4 2019 Held for 5y 11m
8 Broadcom Inc. AVGO	Semiconductors Technology	$22.7M	1.98%	-$151.8K Sold	0.00% 68.8K shares	Q2 2022 Held for 3y 5m
9 General Electric GEV	Renewable Utilities Utilities	$18.7M	1.63%	—	0.01% 30.4K shares	Q2 2024 Held for 1y 5m
10 Microsoft MSFT	Software - Infrastructure Technology	$17.9M	1.56%	—	0.00% 34.5K shares	Q1 2017 Held for 8y 8m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Nicholas Investment Partners, LP's latest filing

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Market Value

$1.1B

Prior: $1.0B

Q/Q Change

+14.14%

+$141.8M

Net Flows % of MV

-4.31%

Turnover Ratio

18.91%

New Purchases

13 stocks

$57.0M

Added To

71 stocks

+$105.0M

Sold Out Of

33 stocks

$144.9M

Reduced Holdings

38 stocks

-$66.4M

Increased Positions

Position	Shares Δ	Change
1 Construction Partners ROAD	New	0 → 125.4K +$15.9M
2 Bloom Energy BE	New	0 → 108.9K +$9.2M
3 Powell Industries POWL	New	0 → 17.5K +$5.3M
4 Sphere Entertainment SPHR	New	0 → 81.3K +$5.0M
5 Applied Digital APLD	New	0 → 208.9K +$4.8M

Decreased Positions

Position	Shares Δ	Change
1 VRNA Verona Pharma VRNA	Sold	198.8K → 0 −$18.8M
2 Vanguard Health Care VHT	Sold	38.1K → 0 −$9.4M
3 Sprouts Farmers Market SFM	Sold	55.9K → 0 −$9.2M
4 Aris Water Solutions ARIS	Sold	372.3K → 0 −$8.8M
5 ExlService Holdings EXLS	Sold	172.3K → 0 −$7.5M