Nicholas Limited Edition Fund Class N NNLEX Strategy

The investment seeks to increase the value of the investment over the long-term. The fund primarily 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 the market capitalization (the number of shares outstanding multiplied by the per share price) 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."