NICHOLAS COMPANY, INC.

MILWAUKEE, WI · CIK 903949 · 13F filing filed 2024-02-13

SEC-registered investment adviser since 1968 · corporation

Assets managed$6.1bn
Staff16 · 7 in investment roles
Main clients (by assets)Mutual funds and ETFs 99%
Websitenicholasinvestments.com
Form ADV · 2026-01-23SEC adviser record

Legal entityNicholas Company, Inc. (US)

$5.2bn reported value +6.0% vs Q1 2023

217positions

19.7%in top 10

4 new 54 added 82 reduced 6 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	498,605	$169.8m3.25%	3.25%	Reduced -88.6k	-88,640 -15.1%
2	ALPHABET INC CAP STK CL C GOOG	GOOG	1,339,135	$162.0m3.10%	3.10%	Added +28.0k	+27,985 2.1%
3	APPLE INC COM AAPL	AAPL	586,430	$113.7m2.18%	2.18%	Reduced -114.4k	-114,440 -16.3%
4	OREILLY AUTOMOTIVE INC COM ORLY	ORLY	115,646	$110.5m2.11%	2.11%	Reduced -5	-5 0.0%
5	AMAZON COM INC COM AMZN	AMZN	678,600	$88.5m1.69%	1.69%	Added +109.2k	+109,245 19.2%
6	HOME DEPOT INC COM HD	HD	256,465	$79.7m1.52%	1.52%	Unchanged
7	AON PLC SHS CL A AON	AON	228,245	$78.8m1.51%	1.51%	Reduced -14.9k	-14,905 -6.1%
8	MASTERCARD INCORPORATED CL A MA	MA	194,300	$76.4m1.46%	1.46%	Reduced -4.4k	-4,410 -2.2%
9	FASTENAL CO COM FAST	FAST	1,251,835	$73.8m1.41%	1.41%	Reduced -45	-45 0.0%
10	ADOBE INC COM ADBE	ADBE	150,755	$73.7m1.41%	1.41%	Added +9.5k	+9,525 6.7%
11	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	33,790	$72.3m1.38%	1.38%	Added +835	+835 2.5%
12	COPART INC COM CPRT	CPRT	787,425	$71.8m1.37%	1.37%	Unchanged
13	PALO ALTO NETWORKS INC COM PANW	PANW	279,745	$71.5m1.37%	1.37%	Reduced -90.4k	-90,420 -24.4%
14	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	135,193	$70.5m1.35%	1.35%	Unchanged
15	FORTIVE CORP COM FTV	FTV	900,010	$67.3m1.29%	1.29%	Added +705	+705 0.1%
16	CINTAS CORP COM CTAS	CTAS	133,770	$66.5m1.27%	1.27%	Reduced -30	-30 -0.0%
17	S&P GLOBAL INC COM SPGI	SPGI	165,450	$66.3m1.27%	1.27%	Unchanged
18	CONSTELLATION BRANDS INC CL A STZ	STZ	267,475	$65.8m1.26%	1.26%	Reduced -25	-25 -0.0%
19	VULCAN MATLS CO COM VMC	VMC	291,100	$65.6m1.26%	1.26%	Reduced -40	-40 -0.0%
20	TJX COS INC NEW COM TJX	TJX	762,195	$64.6m1.24%	1.24%	Unchanged
21	DEXCOM INC COM DXCM	DXCM	499,045	$64.1m1.23%	1.23%	Unchanged
22	VISA INC COM CL A V	V	266,150	$63.2m1.21%	1.21%	Reduced -20	-20 -0.0%
23	ULTA BEAUTY INC COM ULTA	ULTA	133,605	$62.9m1.20%	1.20%	Reduced -15	-15 -0.0%
24	FISERV INC COM FISV	FISV	493,710	$62.3m1.19%	1.19%	Unchanged
25	BOSTON SCIENTIFIC CORP COM BSX	BSX	1,114,670	$60.3m1.15%	1.15%	Unchanged
26	WORKDAY INC CL A WDAY	WDAY	256,690	$58.0m1.11%	1.11%	Unchanged
27	SKYWORKS SOLUTIONS INC COM SWKS	SWKS	521,305	$57.7m1.10%	1.10%	Added +42.7k	+42,680 8.9%
28	UNITEDHEALTH GROUP INC COM UNH	UNH	118,270	$56.8m1.09%	1.09%	Added +7.0k	+7,000 6.3%
29	COSTCO WHSL CORP NEW COM COST	COST	105,445	$56.8m1.09%	1.09%	Unchanged
30	JPMORGAN CHASE & CO COM JPM	JPM	382,470	$55.6m1.06%	1.06%	Unchanged
31	HONEYWELL INTL INC COM COM		266,480	$55.3m1.06%	1.06%	Unchanged
32	JOHNSON & JOHNSON COM JNJ	JNJ	330,515	$54.7m1.05%	1.05%	Unchanged
33	MEDTRONIC PLC SHS MDT	MDT	616,465	$54.3m1.04%	1.04%	Unchanged
34	SHERWIN WILLIAMS CO COM SHW	SHW	203,135	$53.9m1.03%	1.03%	Added +14.9k	+14,935 7.9%
35	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	364,639	$53.6m1.02%	1.02%	Reduced -35	-35 -0.0%
36	SALESFORCE INC COM CRM	CRM	250,430	$52.9m1.01%	1.01%	Unchanged
37	ELI LILLY & CO COM LLY	LLY	112,100	$52.6m1.01%	1.01%	Unchanged
38	NVIDIA CORPORATION COM NVDA	NVDA	120,575	$51.0m0.98%	0.98%	Reduced -67.1k	-67,115 -35.8%
39	MERCK & CO INC COM MRK	MRK	435,957	$50.3m0.96%	0.96%	Unchanged
40	ALCON AG ORD SHS ALC	ALC	607,550	$49.9m0.95%	0.95%	Unchanged
41	SYNOPSYS INC COM SNPS	SNPS	114,420	$49.8m0.95%	0.95%	Reduced -16.3k	-16,285 -12.5%
42	CBRE GROUP INC CL A CBRE	CBRE	601,255	$48.5m0.93%	0.93%	Reduced -60	-60 -0.0%
43	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	1,825,080	$48.1m0.92%	0.92%	Unchanged
44	MONDELEZ INTL INC CL A MDLZ	MDLZ	649,660	$47.4m0.91%	0.91%	Unchanged
45	SERVICENOW INC COM NOW	NOW	83,820	$47.1m0.90%	0.90%	Unchanged
46	TEXAS INSTRS INC COM TXN	TXN	260,455	$46.9m0.90%	0.90%	Added +20.2k	+20,185 8.4%
47	LAM RESEARCH CORP COM COM		70,750	$45.5m0.87%	0.87%	Reduced -11.5k	-11,470 -13.9%
48	LABORATORY CORP AMER HLDGS COM NEW COM NEW		185,890	$44.9m0.86%	0.86%	Unchanged
49	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	396,690	$44.9m0.86%	0.86%	Unchanged
50	STARBUCKS CORP COM SBUX	SBUX	451,910	$44.8m0.86%	0.86%	Unchanged
51	KLA CORP COM NEW KLAC	KLAC	92,040	$44.6m0.85%	0.85%	Unchanged
52	GLOBAL PMTS INC COM GPN	GPN	448,717	$44.2m0.85%	0.85%	Added +68.9k	+68,905 18.1%
53	SCHWAB CHARLES CORP COM SCHW	SCHW	772,850	$43.8m0.84%	0.84%	Added +3.6k	+3,585 0.5%
54	ADVANCED MICRO DEVICES INC COM AMD	AMD	354,763	$40.4m0.77%	0.77%	Reduced -109.4k	-109,430 -23.6%
55	ILLINOIS TOOL WKS INC COM ITW	ITW	161,275	$40.3m0.77%	0.77%	Reduced -4.0k	-4,035 -2.4%
56	ROPER TECHNOLOGIES INC COM ROP	ROP	80,340	$38.6m0.74%	0.74%	Unchanged
57	ATLASSIAN CORPORATION CL A TEAM	TEAM	225,800	$37.9m0.73%	0.73%	Added +99.6k	+99,610 78.9%
58	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	158,915	$37.3m0.71%	0.71%	Unchanged
59	MCDONALDS CORP COM MCD	MCD	118,095	$35.2m0.67%	0.67%	Unchanged
60	THE TRADE DESK INC COM CL A TTD	TTD	421,985	$32.6m0.62%	0.62%	Added +27.0k	+26,990 6.8%
61	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	312,950	$28.0m0.54%	0.54%	Reduced -9.1k	-9,130 -2.8%
62	LAMB WESTON HLDGS INC COM LW	LW	225,401	$25.9m0.50%	0.50%	Reduced -75	-75 -0.0%
63	STEVANATO GROUP S P A ORD SHS STVN	STVN	764,522	$24.8m0.47%	0.47%	Reduced -90.5k	-90,491 -10.6%
64	POWER INTEGRATIONS INC COM POWI	POWI	255,845	$24.2m0.46%	0.46%	Reduced -16.0k	-15,990 -5.9%
65	VERISK ANALYTICS INC COM VRSK	VRSK	99,170	$22.4m0.43%	0.43%	Reduced -9.0k	-9,010 -8.3%
66	RITCHIE BROS AUCTIONEERS COM RBA	RBA	358,701	$21.5m0.41%	0.41%	Reduced -135	-135 -0.0%
67	AMETEK INC COM AME	AME	132,010	$21.4m0.41%	0.41%	Reduced -45	-45 -0.0%
68	CYBERARK SOFTWARE LTD SHS CYBR	CYBR	136,565	$21.3m0.41%	0.41%	Reduced -25	-25 -0.0%
69	SMITH A O CORP COM AOS	AOS	290,326	$21.1m0.40%	0.40%	Reduced -50	-50 -0.0%
70	WABTEC COM WAB	WAB	187,897	$20.6m0.39%	0.39%	Reduced -80	-80 -0.0%
71	RAYMOND JAMES FINL INC COM RJF	RJF	198,274	$20.6m0.39%	0.39%	Unchanged
72	DYNATRACE INC COM NEW DT	DT	398,348	$20.5m0.39%	0.39%	Reduced -50	-50 -0.0%
73	CDW CORP COM CDW	CDW	107,400	$19.7m0.38%	0.38%	Reduced -55	-55 -0.1%
74	NORDSON CORP COM NDSN	NDSN	79,235	$19.7m0.38%	0.38%	Added +635	+635 0.8%
75	TRANSUNION COM TRU	TRU	248,995	$19.5m0.37%	0.37%	Reduced -125	-125 -0.1%
76	REPUBLIC SVCS INC COM RSG	RSG	126,025	$19.3m0.37%	0.37%	Reduced -40	-40 -0.0%
77	PAYLOCITY HLDG CORP COM PCTY	PCTY	104,460	$19.3m0.37%	0.37%	Reduced -30	-30 -0.0%
78	STERIS PLC SHS USD STE	STE	85,515	$19.2m0.37%	0.37%	Reduced -25	-25 -0.0%
79	IQVIA HLDGS INC COM IQV	IQV	85,101	$19.1m0.37%	0.37%	Reduced -755	-755 -0.9%
80	BJS WHSL CLUB HLDGS INC COM BJ	BJ	301,806	$19.0m0.36%	0.36%	Added +21.9k	+21,950 7.8%
81	PTC INC COM PTC	PTC	129,505	$18.4m0.35%	0.35%	Reduced -40	-40 -0.0%
82	APTARGROUP INC COM ATR	ATR	157,250	$18.2m0.35%	0.35%	Reduced -95	-95 -0.1%
83	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	48,820	$18.1m0.35%	0.35%	Reduced -5	-5 -0.0%
84	GARTNER INC COM IT	IT	50,705	$17.8m0.34%	0.34%	Reduced -20	-20 -0.0%
85	FLEETCOR TECHNOLOGIES INC COM COM		68,375	$17.2m0.33%	0.33%	Reduced -35	-35 -0.1%
86	METTLER TOLEDO INTERNATIONAL COM MTD	MTD	12,915	$16.9m0.32%	0.32%	Added +1.4k	+1,420 12.3%
87	SERVICE CORP INTL COM SCI	SCI	259,690	$16.8m0.32%	0.32%	Added +145	+145 0.1%
88	COOPER COS INC COM NEW COM NEW		43,740	$16.8m0.32%	0.32%	Reduced -15	-15 -0.0%
89	IDEX CORP COM IEX	IEX	71,830	$15.5m0.30%	0.30%	Reduced -25	-25 -0.0%
90	BROADRIDGE FINL SOLUTIONS IN COM BR	BR	92,925	$15.4m0.29%	0.29%	Reduced -30	-30 -0.0%
91	LENNOX INTL INC COM LII	LII	46,865	$15.3m0.29%	0.29%	Reduced -25	-25 -0.1%
92	NORTHERN TR CORP COM NTRS	NTRS	205,380	$15.2m0.29%	0.29%	Unchanged
93	HENRY JACK & ASSOC INC COM JKHY	JKHY	90,366	$15.1m0.29%	0.29%	Added +10	+10 0.0%
94	VEEVA SYS INC CL A COM VEEV	VEEV	74,695	$14.8m0.28%	0.28%	Reduced -30	-30 -0.0%
95	RESMED INC COM RMD	RMD	67,260	$14.7m0.28%	0.28%	Reduced -20	-20 -0.0%
96	OKTA INC CL A OKTA	OKTA	207,420	$14.4m0.28%	0.28%	Added +34.1k	+34,095 19.7%
97	GLOBUS MED INC CL A GMED	GMED	232,850	$13.9m0.27%	0.27%	Reduced -2.8k	-2,805 -1.2%
98	REVVITY INC COM RVTY	RVTY	111,090	$13.2m0.25%	0.25%	Added +9.1k	+9,085 8.9%
99	TELEDYNE TECHNOLOGIES INC COM TDY	TDY	31,690	$13.0m0.25%	0.25%	Reduced -10	-10 -0.0%
100	CHARLES RIV LABS INTL INC COM CRL	CRL	59,986	$12.6m0.24%	0.24%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
CITIZENS FINL GROUP INC CFG	CFG	299,747	$9.1m299.7k shares
EVOQUA WATER TECHNOLOGIES CO AQUA	AQUA	111,907	$5.6m111.9k shares
LIVANOVA PLC LIVN	LIVN	116,527	$5.1m116.5k shares
COMMUNITY FINANCIAL SYSTEM I CBU	CBU	44,425	$2.3m44.4k shares
PINNACLE FINL PARTNERS INC		35,670	$2.0m35.7k shares
NEWELL BRANDS INC NWL	NWL	110,570	$1.4m110.6k shares