NICHOLAS LIMITED EDITION, INC. | ||||
SCHEDULE OF INVESTMENTS (UNAUDITED) | ||||
AS OF SEPTEMBER 30, 2021 | ||||
SHARES OR | ||||
PRINCIPAL | ||||
AMOUNT | VALUE | |||
---------------------- | ------------------- | |||
COMMON STOCKS - 96.13% | ||||
Communication Services - | ||||
Telecommunications Services - 1.04% | ||||
65,120 | Bandwidth Inc. - Class A * | $ 5,879,034 | ||
--------------- | ||||
Consumer Discretionary - Automobiles & | ||||
Components - 2.63% | ||||
82,000 | Dorman Products, Inc. * | 7,762,940 | ||
85,000 | Patrick Industries, Inc. | 7,080,500 | ||
--------------- | ||||
14,843,440 | ||||
--------------- | ||||
Consumer Discretionary - Durables & | ||||
Apparel - 1.31% | ||||
230,645 | La-Z-Boy Incorporated | 7,433,688 | ||
--------------- | ||||
Consumer Discretionary - | ||||
Retailing - 5.60% | ||||
308,080 | Leslie's, Inc. * | 6,327,963 | ||
68,500 | Murphy USA Inc. * | 11,457,310 | ||
78,380 | Ollie's Bargain Outlet Holdings, Inc. * | 4,724,746 | ||
434,415 | Petco Health and Wellness Company, Inc. | |||
Class A * | 9,166,156 | |||
--------------- | ||||
31,676,175 | ||||
--------------- | ||||
Consumer Discretionary - Services - 1.81% | ||||
145,745 | Carriage Services, Inc. | 6,498,769 | ||
171,795 | Wendy's Company (The) | 3,724,516 | ||
--------------- | ||||
10,223,285 | ||||
--------------- | ||||
Consumer Staples - Food, Beverage & | ||||
Tobacco - 2.58% | ||||
41,475 | J & J Snack Foods Corp. | 6,338,210 | ||
300,000 | Nomad Foods Limited * | 8,268,000 | ||
--------------- |
14,606,210 | ||||
---------------- | ||||
Financials - Banks - 0.99% | ||||
101,000 | Glacier Bancorp, Inc. | 5,590,350 | ||
---------------- | ||||
Financials - Diversified - 3.44% | ||||
124,635 | Cohen & Steers, Inc. | 10,440,674 | ||
34,800 | Morningstar, Inc. | 9,014,244 | ||
---------------- | ||||
19,454,918 | ||||
---------------- | ||||
Financials - Insurance - 1.67% | ||||
170,000 | Brown & Brown, Inc. | 9,426,500 | ||
---------------- | ||||
Health Care - Equipment & | ||||
Services - 13.60% | ||||
88,840 | AtriCure, Inc. * | 6,178,822 | ||
348,855 | Covetrus, Inc. * | 6,328,230 | ||
56,770 | InMode Ltd. * | 9,051,976 | ||
38,955 | LHC Group, Inc. * | 6,112,429 | ||
122,500 | NuVasive, Inc. * | 7,331,625 | ||
75,000 | Omnicell, Inc. * | 11,132,250 | ||
281,685 | Ortho Clinical Diagnostics Holdings plc * | 5,205,539 | ||
187,795 | Tactile Systems Technology, Inc. * | 8,347,488 | ||
58,590 | Tandem Diabetes Care, Inc. * | 6,994,474 | ||
222,246 | Vocera Communications, Inc. * | 10,169,977 | ||
---------------- | ||||
76,852,810 | ||||
---------------- | ||||
Health Care - Pharmaceuticals, | ||||
Biotechnology & Life Sciences - 4.87% | ||||
6,875 | ICON plc * | 1,801,388 | ||
123,775 | Pacira BioSciences, Inc. * | 6,931,400 | ||
160,000 | Prestige Consumer Healthcare Inc. * | 8,977,600 | ||
112,500 | Syneos Health, Inc. * | 9,841,500 | ||
---------------- | ||||
27,551,888 | ||||
---------------- | ||||
Industrials - Capital Goods - 8.33% | ||||
94,425 | A.O. Smith Corporation | 5,766,535 | ||
121,880 | Altra Industrial Motion Corp. | 6,746,058 | ||
186,805 | AZEK Company Inc. (The) * | 6,823,987 | ||
155,990 | Beacon Roofing Supply, Inc. * | 7,450,082 |
183,163 | Builders FirstSource, Inc. * | 9,476,854 | ||
277,978 | Construction Partners, Inc. - Class A * | 9,276,126 | ||
32,075 | Mercury Systems, Inc. * | 1,520,996 | ||
---------------- | ||||
47,060,638 | ||||
---------------- | ||||
Industrials - Commercial & Professional | ||||
Services - 7.52% | ||||
79,395 | Exponent, Inc. | 8,983,544 | ||
160,000 | IAA, Inc. * | 8,731,200 | ||
88,000 | ICF International, Inc. | 7,857,520 | ||
430,045 | KAR Auction Services, Inc. | 7,048,438 | ||
160,000 | Ritchie Bros. Auctioneers Incorporated | 9,865,600 | ||
---------------- | ||||
42,486,302 | ||||
---------------- | ||||
Industrials - Transportation - 2.71% | ||||
164,000 | Knight-Swift Transportation Holdings Inc. | 8,388,600 | ||
440,649 | Marten Transport, Ltd. | 6,913,783 | ||
---------------- | ||||
15,302,383 | ||||
---------------- | ||||
Information Technology - Hardware & | ||||
Equipment - 1.63% | ||||
90,000 | ePlus inc. * | 9,234,900 | ||
---------------- | ||||
Information Technology - Semiconductors & | ||||
Semiconductor Equipment - 6.02% | ||||
115,055 | Lattice Semiconductor Corporation * | 7,438,306 | ||
104,430 | Onto Innovation Inc. * | 7,545,067 | ||
110,280 | Power Integrations, Inc. | 10,916,617 | ||
104,010 | Semtech Corporation * | 8,109,660 | ||
---------------- | ||||
34,009,650 | ||||
---------------- | ||||
Information Technology - Software & | ||||
Services - 24.96% | ||||
56,465 | BlackLine, Inc. * | 6,666,258 | ||
43,750 | CyberArk Software Ltd. * | 6,904,625 | ||
162,160 | Descartes Systems Group Inc. (The) * | 13,177,122 | ||
213,210 | EVERTEC, Inc. | 9,747,961 | ||
78,550 | ExlService Holdings, Inc. * | 9,671,076 | ||
315,200 | i3 Verticals, Inc. - Class A * | 7,630,992 | ||
124,880 | Mimecast Limited * | 7,942,368 | ||
260,919 | Model N, Inc. * | 8,740,786 | ||
35,500 | Paylocity Holding Corporation * | 9,954,200 | ||
84,750 | Q2 Holdings, Inc. * | 6,791,865 | ||
69,500 | Qualys, Inc. * | 7,734,655 |
71,685 | Rapid7, Inc. * | 8,101,839 | ||
357,660 | Repay Holdings Corporation * | 8,236,910 | ||
97,500 | SailPoint Technologies Holdings, Inc. * | 4,180,800 | ||
52,240 | SPS Commerce, Inc. * | 8,426,834 | ||
168,585 | Tenable Holdings, Inc. * | 7,778,512 | ||
114,555 | WNS (Holdings) Limited * | 9,370,599 | ||
---------------- | ||||
141,057,402 | ||||
---------------- | ||||
Materials - 3.38% | ||||
59,500 | AptarGroup, Inc. | 7,101,325 | ||
281,000 | GCP Applied Technologies Inc. * | 6,159,520 | ||
95,292 | UFP Technologies, Inc. * | 5,869,034 | ||
---------------- | ||||
19,129,879 | ||||
---------------- | ||||
Other - 1.00% | ||||
35,170 | iShares Russell 2000 Value ETF | 5,635,289 | ||
---------------- | ||||
Real Estate - 1.04% | ||||
94,625 | NexPoint Residential Trust, Inc. | 5,855,395 | ||
---------------- | ||||
TOTAL COMMON STOCKS | ||||
(cost $328,143,315) | 543,310,136 | |||
---------------- | ||||
SHORT-TERM INVESTMENTS - 4.01% | ||||
U.S. Government Securities - 2.57% | ||||
$ | 5,000,000 | U.S. Treasury Bill 10/12/2021, 0.021% | 4,999,969 | |
7,000,000 | U.S. Treasury Bill 10/19/2021, 0.020% | 6,999,930 | ||
2,500,000 | U.S. Treasury Bill 11/02/2021, 0.020% | 2,499,956 | ||
---------------- | ||||
14,499,855 | ||||
---------------- | ||||
Money Market Fund - 1.44% | ||||
8,164,616 | Morgan Stanley Liquidity Funds Government | |||
Portfolio (Institutional Class) | ||||
7-day net yield, 0.03% | 8,164,616 | |||
---------------- | ||||
TOTAL SHORT-TERM INVESTMENTS | ||||
(cost $22,664,471) | 22,664,471 | |||
---------------- | ||||
TOTAL INVESTMENTS | ||||
(cost $350,807,787) - 100.14% | 565,974,607 | |||
---------------- |
LIABILITIES, NET OF OTHER ASSETS - (0.14)% | (809,766 | ) | |
---------------- | |||
TOTAL NET ASSETS | |||
(basis of percentages disclosed | |||
above) - 100% | $565,164,841 | ||
---------------- | |||
---------------- | |||
*Non-income producing security. |
As of September 30, 2021, investment cost for federal tax purposes was $350,649,610 and the tax basis components of unrealized appreciation/depreciation were as follows:
Unrealized appreciation | $231,230,355 | ||
Unrealized depreciation | (15,905,358 | ) | |
---------------- | |||
Net unrealized appreciation | $215,324,997 | ||
---------------- | |||
---------------- |
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent Semiannual or Annual Report to Shareholders.
Various inputs are used in determining the value of the Fund's investments relating to Accounting Standards Codification 820-10.
The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.
Level 1 - quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of September 30, 2021 in valuing the Fund’s investments carried at value:
Investments | ||
Valuation Inputs | in Securities | |
---------------- | ------------------ | |
Level 1 - | ||
Common Stocks(1) | $543,310,136 | |
Money Market Fund | 8,164,616 | |
Level 2 - | ||
U.S. Government Securities | 14,499,855 |
Level 3 - | ||
None | -- | |
---------------- | ||
Total | $565,974,607 | |
---------------- | ||
---------------- | ||
(1) See Schedule above for further detail by industry.