----------------------------------
                                                         OMB APPROVAL
                                              ----------------------------------
                                              OMB Number:            3235-0145
                                              Expires:       December 31, 2005
                                              Estimated average burden
                                              hours per response            11
                                              ----------------------------------

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 15)*

                                Fastenal Company
            --------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
            --------------------------------------------------------
                         (Title of Class of Securities)

                                    311900104
            --------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 2002
            --------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         [_] Rule 13d-1(b)

         [_] Rule 13d-1(c)

         [X] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.

SEC 1745 (3-98)

                                   Page 1 of 6



-------------------
CUSIP No. 311900104                    13G
---------- ---------------------------------------------------------------------
    1      NAMES OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                    Stephen M. Slaggie
---------- ---------------------------------------------------------------------
    2      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [_]
                    Not Applicable
                                                                      (b) [_]
---------- ---------------------------------------------------------------------
    3      SEC USE ONLY

---------- ---------------------------------------------------------------------
    4      CITIZENSHIP OR PLACE OF ORGANIZATION

                    United States
 -------------------------- --------- ------------------------------------------
                                5     SOLE VOTING POWER
    NUMBER OF                                  3,641,996
     SHARES                 --------- ------------------------------------------
  BENEFICIALLY                  6     SHARED VOTING POWER
    OWNED BY                                   207,352
      EACH                  --------- ------------------------------------------
    REPORTING                   7     SOLE DISPOSITIVE POWER
     PERSON                                    3,641,996
      WITH:                 --------- ------------------------------------------
                                8     SHARED DISPOSITIVE POWER
                                               207,352
---------- ---------------------------------------------------------------------
    9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                    3,849,348
---------- ---------------------------------------------------------------------
   10      CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*[_]

                    Not Applicable
---------- ---------------------------------------------------------------------
   11      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

                    5.1%
---------- ---------------------------------------------------------------------
   12      TYPE OF REPORTING PERSON*

                    IN
---------- ---------------------------------------------------------------------
                      *SEE INSTRUCTION BEFORE FILLING OUT!

                                   Page 2 of 6



Item 1.

         (a)      Name of Issuer

                  Fastenal Company

         (b)      Address of Issuer's Principal Executive Offices

                  2001 Theurer Boulevard
                  Winona, Minnesota 55987-1500

Item 2.

         (a)      Name of Person Filing

                  This filing is made by Stephen M. Slaggie

         (b)      Address of Principal Business Office or, if none, Residence

                  Stephen M. Slaggie
                  Fastenal Company
                  2001 Theurer Boulevard
                  Winona, Minnesota  55987-1500

         (c)      Citizenship

                  Stephen M. Slaggie is a citizen of the United States

         (d)      Title of Class of Securities

                  Common Stock, $.01 par value

         (e)      CUSIP Number

                  311900104

Item 3. If this statement is filed pursuant to ss.ss. 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

         (a) [_] Broker or dealer registered under Section 15 of the Act.

         (b) [_] Bank as defined in Section 3(a)(6) of the Act.

         (c) [_] Insurance company as defined in Section 3(a)(19) of the Act.

         (d) [_] Investment company registered under Section 8 of the Investment
                 Company Act of 1940.

         (e) [_] An investment adviser in accordance with
                 ss. 240.13d-1(b)(1)(ii)(E).

         (f) [_] An employee benefit plan or endowment fund in accordance with
                 ss. 240.13d-1(b)(1)(ii)(F).

         (g) [_] A parent holding company or control person in accordance with
                 ss. 240.13d-1(b)(1)(ii)(G).

         (h) [_] A savings association as defined in Section 3(b) of the Federal
                 Deposit Insurance Act.

         (i) [_] A church plan that is excluded from the definition of an
                 investment company under Section 3(c)(14) of the Investment
                 Company Act of 1940.

         (j) [_] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).

                 Not Applicable

                                   Page 3 of 6



Item 4.  Ownership

         (a)      Amount Beneficially Owned

                  3,849,348

         (b)      Percent of Class

                  5.1%

         (c)      Number of shares as to which such person has:

                  (i)      Sole power to vote or to direct the vote

                           3,641,996

                  (ii)     Shared power to vote or to direct the vote

                           207,352

                  (iii)    Sole power to dispose or to direct the disposition of

                           3,641,996

                  (iv)     Shared power to dispose or to direct the disposition
                           of

                           207,352

         See Item 6 for further information regarding the nature of the
reporting person's beneficial ownership of certain of the above-referenced
shares.

Item 5.  Ownership of Five Percent or Less of a Class

         If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [_].

          Not Applicable

Item 6.   Ownership of More than Five Percent on Behalf of Another Person.

         The shares listed in Item 4 include (i) 205,952 shares held by the
reporting person's wife (ii) 71,100 shares held by the reporting person as
custodian for a minor child of the reporting person, and (iii) 1,400 shares held
by the Slaggie Family Foundation, a Minnesota non-profit corporation (the
"Slaggie Foundation"). The reporting person disclaims beneficial ownership of
all such shares.

         The reporting person's wife has the right to receive and the power to
direct the receipt of dividends from, and the proceeds of the sale of, the
shares held by her.

         The reporting person has the right to receive and the power to direct
the receipt of dividends from, and the proceeds of the sale of, the shares held
by him as custodian for his minor child until such child reaches the appropriate
age of majority. Upon reaching the appropriate age, such child will have the
right to receive and the power to direct the receipt of such dividends and
proceeds.

                                   Page 4 of 6



         The reporting person and certain members of his family (including his
wife and certain of his children) are directors and members of the Slaggie
Foundation. The Slaggie Foundation has the right to receive and the power to
direct the receipt of dividends from, and the proceeds of the sale of, the
shares held by it. The Slaggie Foundation's directors and members, including the
reporting person, have the power to authorize actions on behalf of the Slaggie
Foundation, but have no right as such to share in any dividends from, or any
proceeds of the sale of, the shares held by the Slaggie Foundation.

Item 7.  Identification and Classification of the Subsidiary Which Acquired
         the Security Being Reported on By the Parent Holding Company

         Not Applicable

Item 8.  Identification and Classification of Members of the Group

         Not Applicable

Item 9.  Notice of Dissolution of Group

         Not Applicable

Item 10. Certification

         Not Applicable


                                   Page 5 of 6



SIGNATURE

          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                                                 December 31, 2002
                                       -----------------------------------------
                                                       Date

                                              /s/ Stephen M. Slaggie
                                       -----------------------------------------
                                                    Signature

                                                  Stephen M. Slaggie
                                       -----------------------------------------
                                                    Name/Title

         The original statement shall be signed by each person on whose behalf
the statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.

         NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. Seess. 240.13d-7 for
other parties for whom copies are to be sent.

         Attention: Intentional misstatements or omissions of fact constitute
Federal criminal violations (See 18 U.S.C. 1001).


                                   Page 6 of 6