The investment seeks to increase the value of the investment over the long-term. The fund primarily invests in common stocks of domestic corporations with small- and medium-sized market capitalizations believed to have growth potential. The advisor believes a company's annual sales volume and market capitalization are the factors most illustrative of a company's size. The advisor generally considers companies with market capitalizations up to $3 billion as "small", between $3 billion and $25 billion as "medium," and greater than $25 billion as "large."

Nasdaq

NCLEX

The investment seeks to increase the value of the investment over the long-term. The fund primarily invests in common stocks of domestic corporations with medium-sized market capitalizations believed to have growth potential. The adviser believes a company's annual sales volume and the market capitalization are the factors most illustrative of a company's size. The adviser generally considers companies with market capitalizations up to $3 billion as "small," between $3 billion and $25 billion as "medium," and greater than $25 billion as "large."

NCTWX

The fund primarily invests in common stocks of domestic small, medium- and large-sized companies believed to have growth potential. The adviser believes a company's annual sales volume and market capitalization (the number of shares outstanding multiplied by the per share price) are the factors most illustrative of a company's size. In distinguishing company size in terms of sales volume, the adviser considers a company's sales volume relative to peer companies in the company's industry.

NICSX

The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of small-capitalization companies. The fund's manager considers small-capitalization companies to be those with market capitalizations within the range of the market capitalizations of companies in the Russell 2000 Growth Index at the time of purchase.

NPSGX

To achieve moderate long-term growth, the fund seeks a five-year return which approximates three-fourths of the average total return achieved over a five-year period on the S&P 500 Index. It invests in a diversified portfolio of income-producing equity securities (including common stocks, preferred stocks and convertible securities) and corporate and government fixed income investments (including notes, bonds and debentures). The fund invests, under normal market conditions, at least 80% of its net assets in equity securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
NCLEX	Nicholas Limited Edition Fund	Small Cap Growth Equities	May 18, 1987	0.85%	-13.00%	6.82%	8.66%	0
NCTWX	Nicholas II Fund	Mid Cap Growth Equities	Oct 17, 1983	0.59%	-7.78%	8.52%	13.48%	2
NICSX	Nicholas Fund	Large Cap Growth Equities	Jul 14, 1969	0.71%	-7.45%	10.63%	9.96%	4
NPSGX	Nicholas Partners Small Cap Growth Fund	Small Cap Growth Equities	Jan 16, 2019	1.13%	3.41%	—	4.36%	80
NSEIX	Nicholas Equity Income Fund	Large Cap Value Equities	Nov 23, 1993	0.70%	0.82%	9.84%	10.76%	48

Nicholas Mutual Funds List

Risk vs. Return Scatterplot