This study has a purpose to get empirical evidence about the inf;uence of leverage, investment opportunity set and cash conversion cycle to cash holding. The objects of this study are manufacturing companies that are enlisted on the Indonesian Stock Exchange period 2014 to 2016. The technique of sampling in this study used purposive samping technique and there was 280 samples. Eviews 7 is used for analytic tool. Ther results show that: 1) leverage has significant negative impact to cash holding, the result of hypothesis testing in accordance with the trade off theory which states that companies hold cash in consideration to the usefulness and cost from holding the cash money. 2) investment opportunity set (IOS) which is measured using MBVA, MBVE and PPEMVA has significant positive impact to the cash holding. The hypothesis result in accordance to pecking order theory which states that the high level of IOS will create high cash holding demands. 3) cash conversion cycle has significant negative impact to the cash holding.