NICHOLAS LIMITED EDITION, INC. | |||
SCHEDULE OF INVESTMENTS (UNAUDITED) | |||
AS OF MARCH 31, 2024 | |||
SHARES OR | |||
PRINCIPAL | |||
AMOUNT | |||
COMMON STOCKS -- 94.80% | VALUE | ||
Consumer Discretionary - Automobiles & Components -- 1.75% | |||
87,440 | Dorman Products, Inc.* | $ | 8,428,342 |
Consumer Discretionary - Consumer Discretionary Distribution & Retail -- 2.03% | |||
8,500 | Murphy USA, Inc. | 3,563,200 | |
78,380 | Ollie's Bargain Outlet Holdings Inc* | 6,236,697 | |
9,799,897 | |||
Consumer Discretionary - Consumer Durables & Apparel -- 1.80% | |||
230,645 | La-Z-Boy Incorporated | 8,676,865 | |
Consumer Discretionary - Consumer Services -- 2.58% | |||
131,500 | Carriage Services Inc. | 3,555,760 | |
78,716 | Papa John's International, Inc. | 5,242,485 | |
192,620 | Wendy's Company | 3,628,961 | |
12,427,206 | |||
Consumer Staples - Food, Beverage & Tobacco -- 2.84% | |||
45,355 | J & J Snack Foods Corp. | 6,556,519 | |
364,195 | Nomad Foods Ltd. | 7,123,654 | |
13,680,173 | |||
Financials - Financial Services -- 10.39% | |||
124,635 | Cohen & Steers, Inc. | 9,583,185 | |
213,210 | EVERTEC, Inc. | 8,507,079 | |
328,960 | i3 Verticals, Inc. Class A* | 7,529,894 | |
25,975 | Morningstar, Inc. | 8,009,911 | |
815,611 | Repay Holdings Corp. Class A* | 8,971,721 | |
113,530 | Shift4 Payments, Inc. Class A* | 7,500,927 | |
50,102,717 | |||
Financials - Insurance -- 1.33% | |||
221,100 | BRP Group, Inc. Class A* | 6,398,634 | |
Health Care - Health Care Equipment & Services -- 11.44% | |||
73,317 | Amedisys, Inc.* | 6,756,895 |
175,150 | AtriCure, Inc.* | 5,328,063 |
83,653 | Encompass Health Corporation | 6,908,065 |
128,303 | Globus Medical Inc Class A* | 6,882,173 |
185,790 | InMode Ltd.* | 4,014,922 |
372,357 | Neogen Corp* | 5,875,793 |
97,295 | Omnicell, Inc.* | 2,843,933 |
215,730 | Option Care Health Inc* | 7,235,584 |
103,529 | STAAR Surgical Company* | 3,963,090 |
21,266 | UFP Technologies, Inc.* | 5,363,285 |
55,171,803 | ||
Health Care - Pharmaceuticals, Biotechnology & Life Sciences -- 4.65% | ||
152,350 | Pacira Biosciences, Inc.* | 4,451,667 |
149,595 | Prestige Consumer Healthcare Inc* | 10,854,613 |
221,064 | Stevanato Group SpA | 7,096,154 |
22,402,434 | ||
Industrials - Capital Goods -- 9.00% | ||
88,706 | A. O. Smith Corporation | 7,935,639 |
67,859 | Beacon Roofing Supply, Inc.* | 6,651,539 |
38,133 | Builders FirstSource, Inc.* | 7,952,637 |
21,222 | Comfort Systems USA, Inc. | 6,742,442 |
156,397 | Construction Partners, Inc. Class A* | 8,781,691 |
70,945 | Donaldson Company, Inc. | 5,298,173 |
43,362,121 | ||
Industrials - Commercial & Professional Services -- 14.30% | ||
246,150 | ExlService Holdings, Inc.* | 7,827,570 |
79,395 | Exponent, Inc. | 6,565,173 |
88,000 | ICF International, Inc. | 13,255,440 |
430,045 | OPENLANE, Inc.* | 7,439,778 |
28,678 | Paylocity Holding Corp.* | 4,928,601 |
196,840 | RB Global, Inc. | 14,993,303 |
46,520 | Tetra Tech, Inc. | 8,592,709 |
105,925 | WNS (Holdings) Limited Sponsored ADR* | 5,352,390 |
68,954,964 | ||
Industrials - Transportation -- 2.82% | ||
129,965 | Knight-Swift Transportation Holdings Inc. Class A | 7,150,674 |
348,869 | Marten Transport, Ltd. | 6,447,099 |
13,597,773 | ||
Information Technology - Semiconductors & Semiconductor Equipment -- 3.84% | ||
58,165 | Lattice Semiconductor Corporation* | 4,550,248 |
44,146 | Onto Innovation, Inc.* | 7,993,958 | |
83,610 | Power Integrations, Inc. | 5,982,295 | |
18,526,501 | |||
Information Technology - Software & Services -- 21.22% | |||
89,785 | Altair Engineering Inc. Class A* | 7,734,978 | |
111,105 | BlackLine, Inc.* | 7,175,161 | |
38,110 | CyberArk Software Ltd.* | 10,123,159 | |
113,495 | Descartes Systems Group Inc.* | 10,388,197 | |
107,175 | Five9, Inc.* | 6,656,639 | |
338,585 | Grid Dynamics Holdings, Inc. Class A* | 4,161,210 | |
280,179 | Model N, Inc.* | 7,976,696 | |
116,358 | nCino Inc* | 4,349,462 | |
22,820 | PowerSchool Holdings, Inc. Class A* | 485,838 | |
210,590 | Q2 Holdings, Inc.* | 11,068,610 | |
46,906 | Qualys, Inc.* | 7,827,204 | |
47,284 | SPS Commerce, Inc.* | 8,742,812 | |
150,650 | Tenable Holdings, Inc.* | 7,446,630 | |
172,675 | Varonis Systems, Inc.* | 8,145,080 | |
102,281,676 | |||
Information Technology - Technology Hardware & Equipment -- 2.30% | |||
110,463 | ePlus inc.* | 8,675,764 | |
13,870 | Novanta Inc* | 2,424,060 | |
11,099,824 | |||
Materials - Materials -- 1.78% | |||
59,500 | AptarGroup, Inc. | 8,561,455 | |
Real Estate - Equity Real Estate Investment Trusts (REITs) -- 0.73% | |||
109,550 | NexPoint Residential Trust, Inc. | 3,526,415 | |
TOTAL COMMON STOCKS | |||
(cost $291,745,517) | 456,998,800 | ||
SHORT-TERM INVESTMENTS -- 5.29% | |||
Money Market Deposit Account – 0.53% | |||
$ | 2,542,717 | U.S. Bank Money Market, 5.24% | 2,542,717 |
Money Market Fund - 1.25% | |||
6,000,000 | Morgan Stanley Institutional Liquidity Funds Government Portfolio | ||
(Institutional Class), 7-day net yield, 5.222% | 6,000,000 |
U.S. Government Securities – 3.51% | ||||
5,000,000 | U.S. Treasury Bill 04/02/2024, 1.323% | 4,999,275 | ||
6,000,000 | U.S. Treasury Bill 05/02/2024, 4.903% | 5,972,723 | ||
6,000,000 | U.S. Treasury Bill 05/21/2024, 5.073% | 5,956,125 | ||
16,928,123 | ||||
TOTAL SHORT-TERM INVESTMENTS | ||||
(cost $25,471,629) | 25,470,840 | |||
TOTAL INVESTMENTS | ||||
(cost $317,217,146) - 100.09% | 482,469,640 | |||
LIABILITIES, NET OF OTHER ASSETS - (0.09)% | (411,511 | ) | ||
TOTAL NET ASSETS | ||||
(basis of percentages disclosed above) - 100% | $ | 482,058,129 | ||
* Non-income producing security. |
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 March 31, 2024, in valuing the Fund’s investments carried at value:
Investments | ||
Valuation Inputs | in Securities | |
Level 1 | ||
Common Stocks(1) | $ | 456,998,800 |
Money Market Fund | 6,000,000 | |
Money Market Deposit Account | 2,542,717 | |
Level 2 | ||
U.S. Government Securities | 16,928,123 | |
Level 3 | ||
None | — | |
Total | $ | 482,469,640 |
(1) See Schedule above for further detail by industry.