This study aims to analyze the effect of Growth Opportunity, Leverage, Net Working Capital, Cash Flow and Dividend Payment to Cash Holding at a manufacturing company listed on the Indonesia Stock Exchange. In this research, the sampling technique used is purposive sampling with the criteria that, the manufacturing company used is a company that divides the dividend and profits respectively in 2013-2016. The number of samples obtained as many as 164 data from 41 companies. Based on the analysis that has been done results obtained that Growth Opportunity, Leverage and Net Working Capital significantly positive for Cash Holding. While Dividend Payment significantly negative against Cash Holding, and Cash Flow is not significant to Cash Holding.