NICHOLAS LIMITED EDITION, INC. | ||||
SCHEDULE OF INVESTMENTS (UNAUDITED) | ||||
AS OF MARCH 31, 2022 | ||||
SHARES OR | ||||
PRINCIPAL | ||||
AMOUNT | VALUE | |||
-------------------- | ------------------- | |||
COMMON STOCKS - 97.48% | ||||
Communication Services - Telecommunications | ||||
Services - 0.36% | ||||
56,715 | Bandwidth Inc. - Class A * | $ 1,836,999 | ||
----------------- | ||||
Consumer Discretionary - Automobiles & | ||||
Components - 2.56% | ||||
82,000 | Dorman Products, Inc. * | 7,792,460 | ||
88,790 | Patrick Industries, Inc. | 5,354,037 | ||
----------------- | ||||
13,146,497 | ||||
----------------- | ||||
Consumer Discretionary - Durables & | ||||
Apparel - 1.18% | ||||
230,645 | La-Z-Boy Incorporated | 6,082,109 | ||
----------------- | ||||
Consumer Discretionary - Retailing - 5.79% | ||||
458,390 | Leslie's, Inc. * | 8,874,430 | ||
42,130 | Murphy USA Inc. | 8,424,315 | ||
78,380 | Ollie's Bargain Outlet Holdings, Inc. * | 3,367,205 | ||
462,875 | Petco Health and Wellness Company, Inc. | |||
Class A * | 9,058,464 | |||
----------------- | ||||
29,724,414 | ||||
----------------- | ||||
Consumer Discretionary - Services - 1.92% | ||||
114,290 | Carriage Services, Inc. | 6,095,086 | ||
171,795 | Wendy's Company (The) | 3,774,336 | ||
----------------- | ||||
9,869,422 | ||||
----------------- | ||||
Consumer Staples - Food, Beverage & | ||||
Tobacco - 2.63% | ||||
43,505 | J & J Snack Foods Corp. | 6,747,626 | ||
300,000 | Nomad Foods Limited * | 6,774,000 | ||
----------------- | ||||
13,521,626 | ||||
----------------- | ||||
Financials - Banks - 0.99% |
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101,000 | Glacier Bancorp, Inc. | 5,078,280 | ||
----------------- | ||||
Financials - Diversified - 3.46% | ||||
124,635 | Cohen & Steers, Inc. | 10,704,900 | ||
25,975 | Morningstar, Inc. | 7,095,591 | ||
----------------- | ||||
17,800,491 | ||||
----------------- | ||||
Financials - Insurance - 1.82% | ||||
129,150 | Brown & Brown, Inc. | 9,333,670 | ||
----------------- | ||||
Health Care - Equipment & Services - 12.19% | ||||
113,480 | AtriCure, Inc. * | 7,452,231 | ||
380,885 | Covetrus, Inc. * | 6,395,059 | ||
133,235 | InMode Ltd. * | 4,917,704 | ||
58,015 | LHC Group, Inc. * | 9,781,329 | ||
112,680 | NuVasive, Inc. * | 6,388,956 | ||
75,000 | Omnicell, Inc. * | 9,711,750 | ||
403,910 | Ortho Clinical Diagnostics Holdings plc * | 7,536,961 | ||
62,330 | STAAR Surgical Company * | 4,980,790 | ||
46,810 | Tandem Diabetes Care, Inc. * | 5,443,535 | ||
----------------- | ||||
62,608,315 | ||||
----------------- | ||||
Health Care - Pharmaceuticals, | ||||
Biotechnology & Life Sciences - 5.51% | ||||
140,715 | Pacira BioSciences, Inc. * | 10,739,369 | ||
160,000 | Prestige Consumer Healthcare Inc. * | 8,470,400 | ||
112,500 | Syneos Health, Inc. * | 9,106,875 | ||
----------------- | ||||
28,316,644 | ||||
----------------- | ||||
Industrials - Capital Goods - 9.63% | ||||
88,706 | A.O. Smith Corporation | 5,667,426 | ||
137,695 | Altra Industrial Motion Corp. | 5,360,466 | ||
258,570 | AZEK Company Inc. (The) * | 6,422,879 | ||
155,990 | Beacon Roofing Supply, Inc. * | 9,247,087 | ||
97,523 | Builders FirstSource, Inc. * | 6,294,134 | ||
58,410 | Comfort Systems USA | 5,199,074 | ||
306,488 | Construction Partners, Inc. - Class A * | 8,023,856 | ||
39,560 | Kornit Digital Ltd. * | 3,271,216 | ||
----------------- | ||||
49,486,138 | ||||
----------------- | ||||
Industrials - Commercial & Professional | ||||
Services - 9.05% | ||||
79,395 | Exponent, Inc. | 8,578,630 | ||
160,000 | IAA, Inc. * | 6,120,000 | ||
88,000 | ICF International, Inc. | 8,284,320 |
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430,045 | KAR Auction Services, Inc. | 7,762,312 | ||
160,000 | Ritchie Bros. Auctioneers Incorporated | 9,444,800 | ||
38,040 | Tetra Tech, Inc. | 6,274,318 | ||
----------------- | ||||
46,464,380 | ||||
----------------- | ||||
Industrials - Transportation - 3.13% | ||||
164,000 | Knight-Swift Transportation Holdings Inc. | 8,275,440 | ||
440,649 | Marten Transport, Ltd. | 7,825,926 | ||
----------------- | ||||
16,101,366 | ||||
----------------- | ||||
Information Technology - Hardware & | ||||
Equipment - 1.74% | ||||
159,380 | ePlus inc. * | 8,934,843 | ||
----------------- | ||||
Information Technology - Semiconductors & | ||||
Semiconductor Equipment - 5.93% | ||||
98,435 | Lattice Semiconductor Corporation * | 5,999,613 | ||
80,711 | Onto Innovation Inc. * | 7,012,979 | ||
110,280 | Power Integrations, Inc. | 10,220,750 | ||
104,010 | Semtech Corporation * | 7,212,053 | ||
----------------- | ||||
30,445,395 | ||||
----------------- | ||||
Information Technology - Software & | ||||
Services - 25.53% | ||||
81,415 | BlackLine, Inc. * | 5,961,206 | ||
43,750 | CyberArk Software Ltd. * | 7,382,812 | ||
118,860 | Descartes Systems Group Inc. (The) * | 8,707,683 | ||
213,210 | EVERTEC, Inc. | 8,726,685 | ||
69,480 | ExlService Holdings, Inc. * | 9,954,400 | ||
21,524 | Grid Dynamics Holdings, Inc. * | 303,058 | ||
328,960 | i3 Verticals, Inc. - Class A * | 9,164,826 | ||
299,019 | Model N, Inc. * | 8,043,611 | ||
35,500 | Paylocity Holding Corporation * | 7,304,835 | ||
100,580 | Q2 Holdings, Inc. * | 6,200,757 | ||
69,500 | Qualys, Inc. * | 9,897,495 | ||
66,865 | Rapid7, Inc. * | 7,438,063 | ||
391,639 | Repay Holdings Corporation * | 5,784,508 | ||
97,500 | SailPoint Technologies Holdings, Inc. * | 4,990,050 | ||
56,225 | SPS Commerce, Inc. * | 7,376,720 | ||
135,330 | Tenable Holdings, Inc. * | 7,820,721 | ||
132,250 | Varonis Systems, Inc. * | 6,287,165 | ||
114,555 | WNS (Holdings) Limited * | 9,793,307 | ||
----------------- | ||||
131,137,902 | ||||
----------------- | ||||
Materials - 2.59% | ||||
59,500 | AptarGroup, Inc. | 6,991,250 | ||
95,292 | UFP Technologies, Inc. * | 6,305,472 |
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----------------- | ||||
13,296,722 | ||||
----------------- | ||||
Real Estate - 1.47% | ||||
83,560 | NexPoint Residential Trust, Inc. | 7,546,304 | ||
----------------- | ||||
TOTAL COMMON STOCKS | ||||
(cost $330,281,616) | 500,731,517 | |||
----------------- | ||||
SHORT-TERM INVESTMENTS - 2.04% | ||||
U.S. Government Security - 0.98% | ||||
$5,000,000 | U.S. Treasury Bill 04/21/2022, 0.091% | 4,999,750 | ||
----------------- | ||||
Money Market Fund - 1.06% | ||||
5,460,405 | Morgan Stanley Liquidity Funds Government | |||
Portfolio (Institutional Class), | ||||
7-day net yield 0.229% | 5,460,405 | |||
----------------- | ||||
TOTAL SHORT-TERM INVESTMENTS | ||||
(cost $10,460,155) | 10,460,155 | |||
----------------- | ||||
TOTAL INVESTMENTS | ||||
(cost $340,741,771) - 99.52% | 511,191,672 | |||
----------------- | ||||
OTHER ASSETS, NET OF LIABILITIES - 0.48% | 2,472,404 | |||
----------------- | ||||
TOTAL NET ASSETS | ||||
(basis of percentages | ||||
disclosed above) - 100% | $513,664,076 | |||
----------------- | ||||
----------------- | ||||
* Non-income producing. |
As of March 31, 2022, investment cost for federal tax purposes was $341,252,467 and the tax basis components of unrealized appreciation/depreciation were as follows:
Unrealized appreciation | $196,029,288 | ||
Unrealized depreciation | (26,090,083 | ) | |
---------------- | |||
Net unrealized appreciation | $169,939,205 | ||
---------------- | |||
---------------- |
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.
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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 March 31, 2022 in valuing the Fund’s investments carried at value:
Investments | ||
Valuation Inputs | in Securities | |
---------------- | ------------------ | |
Level 1 - | ||
Common Stocks(1) | $500,731,517 | |
Money Market Fund | 5,460,405 | |
Level 2 - | ||
U.S. Government Security | 4,999,750 | |
Level 3 - | ||
None | -- | |
----------------- | ||
Total | $511,191,672 | |
----------------- | ||
----------------- | ||
(1) See Schedule above for further detail by industry. |
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