Nicholas Limited Edition Fund

This fund primarily directs its investments into the common shares of U.S.-based corporations. It concentrates on businesses possessing small to mid-range market capitalizations, which are identified as having promising potential for expansion. The investment advisor determines a company's overall size predominantly by assessing its annual sales volume and its total market valuation. Specifically, the advisor categorizes companies with a market capitalization up to $3 billion as "small," those with market capitalizations ranging from $3 billion to $25 billion as "medium," and firms exceeding $25 billion as "large."