<PAGE> PAGE 1
000 B000000 03/31/95
000 C000000 0000071958
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 NICHOLAS FUND, INC.
001 B000000 811-1728
001 C000000 4142724650
002 A000000 700 NORTH WATER STREET, SUITE 1010
002 B000000 MILWAUKEE
002 C000000 WI
002 D010000 53202
002 D020000 4276
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 BEAR STEARNS & CO.
020 B000001 13-4946705
020 C000001 197
020 A000002 KAYNE ANDERSON & CO.
020 B000002 95-3901352
020 C000002 146
020 A000003 WISCONSIN DISCOUNT SERVICES
020 B000003 39-1259164
020 C000003 132
020 A000004 DONALDSON, LUFKIN, JENRETTE
020 B000004 13-2741729
020 C000004 109
020 A000005 CLEARY GULL
020 B000005 39-1567700
020 C000005 98
020 A000006 SMITH BARNEY
020 B000006 13-1912900
020 C000006 97
<PAGE> PAGE 2
020 A000007 MORGAN STANLEY & CO.
020 B000007 13-2655978
020 C000007 81
020 A000008 WILLIAM BLAIR
020 B000008 36-2214610
020 C000008 75
020 A000009 SCOTT & STRINGFELLOW
020 B000009 54-0957557
020 C000009 65
020 A000010 MCDONALD & CO
020 B000010 34-1391952
020 C000010 62
021 000000 2237
022 A000001 FIRST BOSTON
022 B000001 13-5659485
022 C000001 660673
022 D000001 15961
022 A000002 FIRSTAR TRUST CO.
022 B000002 39-0281260
022 C000002 264392
022 D000002 280103
022 A000003 MERRILL LYNCH
022 B000003 39-1035790
022 C000003 526943
022 D000003 10714
022 A000004 B.T. SECURITIES & CO
022 B000004 13-3311934
022 C000004 284992
022 D000004 0
022 A000005 MORGAN STANLEY & CO
022 B000005 13-2655978
022 C000005 230533
022 D000005 29888
022 A000006 LEHMAN BROTHERS
022 B000006 13-2518466
022 C000006 179665
022 D000006 9103
022 A000007 MARSHALL & ILSLEY
022 B000007 39-1610688
022 C000007 147905
022 D000007 0
022 A000008 FIRSTAR INVESTMENT DEPARTMENT
022 B000008 39-0281225
022 C000008 131922
022 D000008 1984
022 A000009 RAGEN MACKENZIE
022 B000009 91-1374280
022 C000009 4539
022 D000009 62391
022 A000010 LAZARD FRERES & CO.
022 B000010 13-5545100
<PAGE> PAGE 3
022 C000010 10949
022 D000010 53284
023 C000000 2635047
023 D000000 577993
024 000000 Y
025 A000001 EDWARDS (A. G.), INC.
025 B000001 43-0895447
025 C000001 E
025 D000001 5984
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
028 A010000 12920
028 A020000 0
028 A030000 0
028 A040000 31810
028 B010000 10885
028 B020000 0
028 B030000 0
028 B040000 32349
028 C010000 12590
028 C020000 101619
028 C030000 0
028 C040000 34857
028 D010000 17286
028 D020000 0
028 D030000 0
028 D040000 40984
028 E010000 16303
028 E020000 0
028 E030000 0
028 E040000 36436
028 F010000 17697
028 F020000 0
028 F030000 0
028 F040000 33159
028 G010000 87681
028 G020000 101619
<PAGE> PAGE 4
028 G030000 0
028 G040000 209595
028 H000000 0
029 000000 N
030 A000000 0
030 B000000 0.00
030 C000000 0.00
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
071 A000000 788862
071 B000000 981059
071 C000000 2645786
071 D000000 30
072 A000000 12
072 B000000 14530
<PAGE> PAGE 5
072 C000000 47164
072 D000000 0
072 E000000 83
072 F000000 19010
072 G000000 0
072 H000000 0
072 I000000 2436
072 J000000 308
072 K000000 351
072 L000000 163
072 M000000 15
072 N000000 96
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 15
072 S000000 36
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 91
072 X000000 22521
072 Y000000 0
072 Z000000 39256
072AA000000 148604
072BB000000 0
072CC010000 114302
072CC020000 0
072DD010000 40135
072DD020000 0
072EE000000 188467
073 A010000 0.7070
073 A020000 0.0000
073 B000000 3.3170
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 203776
074 D000000 0
074 E000000 0
074 F000000 2794176
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 35889
074 K000000 0
074 L000000 2878
074 M000000 0
074 N000000 3036719
074 O000000 29685
074 P000000 0
<PAGE> PAGE 6
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 2631
074 S000000 0
074 T000000 3004403
074 U010000 57537
074 U020000 0
074 V010000 52.22
074 V020000 0.00
074 W000000 0.0000
074 X000000 174081
074 Y000000 0
075 A000000 0
075 B000000 2936555
076 000000 0.00
077 A000000 Y
077 B000000 Y
078 000000 N
080 A000000 CHUBB GROUP
080 C000000 5500
081 A000000 Y
081 B000000 6
082 A000000 Y
082 B000000 25
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE THOMAS J. SAEGER
TITLE EX VICE-PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> MAR-31-1995
<PERIOD-START> APR-01-1994
<PERIOD-END> MAR-31-1995
<INVESTMENTS-AT-COST> 2,148,420,086
<INVESTMENTS-AT-VALUE> 2,997,952,016
<RECEIVABLES> 38,767,305
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,036,719,321
<PAYABLE-FOR-SECURITIES> 29,684,894
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,631,512
<TOTAL-LIABILITIES> 32,316,406
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,080,933,722
<SHARES-COMMON-STOCK> 57,536,667
<SHARES-COMMON-PRIOR> 57,554,284
<ACCUMULATED-NII-CURRENT> 8,643,808
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 66,131,860
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 848,693,525
<NET-ASSETS> 3,004,402,915
<DIVIDEND-INCOME> 47,163,654
<INTEREST-INCOME> 14,530,548
<OTHER-INCOME> 83,487
<EXPENSES-NET> 22,521,314
<NET-INVESTMENT-INCOME> 39,256,375
<REALIZED-GAINS-CURRENT> 148,604,119
<APPREC-INCREASE-CURRENT> 114,302,325
<NET-CHANGE-FROM-OPS> 302,162,819
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 40,135,350
<DISTRIBUTIONS-OF-GAINS> 188,467,392
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,921,537
<NUMBER-OF-SHARES-REDEEMED> 8,417,904
<SHARES-REINVESTED> 4,478,750
<NET-CHANGE-IN-ASSETS> 63,239,705
<ACCUMULATED-NII-PRIOR> 9,522,783
<ACCUMULATED-GAINS-PRIOR> 105,995,133
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 19,010,314
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 22,521,314
<AVERAGE-NET-ASSETS> 2,926,493,621
<PER-SHARE-NAV-BEGIN> 51.10
<PER-SHARE-NII> 0.69
<PER-SHARE-GAIN-APPREC> 4.46
<PER-SHARE-DIVIDEND> 0.71
<PER-SHARE-DISTRIBUTIONS> 3.32
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 52.22
<EXPENSE-RATIO> 0.77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>