<PAGE> PAGE 1
000 B000000 03/31/98
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
008 A000001 NICHOLAS COMPANY, INC.
008 B000001 A
008 C000001 801-4658
008 D010001 MILWAUKEE
008 D020001 WI
008 D030001 53202
008 D040001 4276
012 A000001 FIRSTAR TRUST COMPANY
012 B000001 85-410
012 C010001 MILWAUKEE
012 C020001 WI
012 C030001 53202
012 C040001 2944
020 A000001 BEAR STEARNS
020 B000001 13-4946705
020 C000001 211
020 A000002 STANDARD & POORS CORPORATION
020 B000002 13-2671951
<PAGE> PAGE 2
020 C000002 133
020 A000003 INSTINET
020 B000003 13-3443995
020 C000003 132
020 A000004 WISCONSIN DISCOUNT
020 B000004 39-1259164
020 C000004 116
020 A000005 SALOMON/SMITH BARNEY
020 B000005 13-1912900
020 C000005 108
020 A000006 CLEAR GULL
020 B000006 39-1567700
020 C000006 108
020 A000007 HOEFER & ARNET
020 B000007 94-2831518
020 C000007 92
020 A000008 MCDONALD & CO.
020 B000008 34-1391952
020 C000008 86
020 A000009 RAGEN MACKENZIE
020 B000009 91-1374280
020 C000009 83
020 A000010 SCOTT & STRINGFELLOW
020 B000010 54-0957557
020 C000010 82
021 000000 2159
022 A000001 FIRST BOSTON
022 B000001 13-5659485
022 C000001 776827
022 D000001 56423
022 A000002 MARSHALL & ILSLEY
022 B000002 39-1610688
022 C000002 412795
022 D000002 7000
022 A000003 FIRSTAR TRUST CO.
022 B000003 39-0281260
022 C000003 189821
022 D000003 186237
022 A000004 FIRSTAR MONEY CENTER
022 B000004 39-0281225
022 C000004 380056
022 D000004 0
022 A000005 LEHMAN BROTHERS
022 B000005 13-2518466
022 C000005 350930
022 D000005 6386
022 A000006 MERRILL LYNCH
022 B000006 39-1035790
022 C000006 231354
022 D000006 0
022 A000007 MORGAN STANLEY
<PAGE> PAGE 3
022 B000007 13-2655978
022 C000007 179799
022 D000007 0
022 A000008 ROBERT W. BAIRD
022 B000008 39-6037917
022 C000008 43755
022 D000008 0
022 A000009 HELLER FINANCIAL
022 B000009 36-1208070
022 C000009 37810
022 D000009 0
022 A000010 GOLDMAN SACHS & CO.
022 B000010 13-5108880
022 C000010 6074
022 D000010 16433
023 C000000 2713470
023 D000000 399080
028 A010000 21771
028 A020000 0
028 A030000 0
028 A040000 41143
028 B010000 15039
028 B020000 0
028 B030000 0
028 B040000 21961
028 C010000 22210
028 C020000 275149
028 C030000 0
028 C040000 28996
028 D010000 45535
028 D020000 0
028 D030000 0
028 D040000 36721
028 E010000 31253
028 E020000 0
028 E030000 0
028 E040000 28415
028 F010000 43892
028 F020000 0
028 F030000 0
028 F040000 45342
028 G010000 179700
028 G020000 275149
028 G030000 0
028 G040000 202578
028 H000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 4
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 802527
071 B000000 1068707
071 C000000 61337523
071 D000000 17
072 A000000 12
072 B000000 11952
072 C000000 44620
072 D000000 0
072 E000000 56
072 F000000 32093
072 G000000 0
072 H000000 0
072 I000000 2023
072 J000000 258
072 K000000 226
072 L000000 106
072 M000000 11
072 N000000 180
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 20
072 S000000 28
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 66
072 X000000 35011
072 Y000000 0
072 Z000000 21617
072AA000000 436912
072BB000000 0
072CC010000 1553036
072CC020000 0
072DD010000 21461
072DD020000 0
072EE000000 344375
073 A010000 0.3616
<PAGE> PAGE 5
073 A020000 0.0000
073 B000000 5.8002
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 309354
074 D000000 0
074 E000000 0
074 F000000 5602697
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 2933
074 K000000 0
074 L000000 4102
074 M000000 0
074 N000000 5919086
074 O000000 5303
074 P000000 3106
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 3473
074 S000000 0
074 T000000 5907204
074 U010000 62857
074 U020000 0
074 V010000 93.98
074 V020000 0.00
074 W000000 0.0000
074 X000000 158006
074 Y000000 0
075 A000000 0
075 B000000 4915233
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
<PAGE> PAGE 6
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 CHUBB GROUP
080 C000000 6325
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
SIGNATURE THOMAS J. SAEGER
TITLE EX VICE-PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 2640284484
<INVESTMENTS-AT-VALUE> 5912050804
<RECEIVABLES> 7035498
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5919086302
<PAYABLE-FOR-SECURITIES> 5303494
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6578526
<TOTAL-LIABILITIES> 11882020
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2475804833
<SHARES-COMMON-STOCK> 62856621
<SHARES-COMMON-PRIOR> 59443426
<ACCUMULATED-NII-CURRENT> 5183810
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 155570996
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3270644643
<NET-ASSETS> 5907204282
<DIVIDEND-INCOME> 44619930
<INTEREST-INCOME> 11951887
<OTHER-INCOME> 56185
<EXPENSES-NET> 35011290
<NET-INVESTMENT-INCOME> 21616712
<REALIZED-GAINS-CURRENT> 436911653
<APPREC-INCREASE-CURRENT> 1553035607
<NET-CHANGE-FROM-OPS> 2011563972
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 21461299
<DISTRIBUTIONS-OF-GAINS> 344374893
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3910077
<NUMBER-OF-SHARES-REDEEMED> 4783859
<SHARES-REINVESTED> 4286977
<NET-CHANGE-IN-ASSETS> 1917715582
<ACCUMULATED-NII-PRIOR> 5028397
<ACCUMULATED-GAINS-PRIOR> 63034236
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32093490
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 35011290
<AVERAGE-NET-ASSETS> 4915233247
<PER-SHARE-NAV-BEGIN> 67.11
<PER-SHARE-NII> .36
<PER-SHARE-GAIN-APPREC> 32.67
<PER-SHARE-DIVIDEND> .362
<PER-SHARE-DISTRIBUTIONS> 5.80
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 93.98
<EXPENSE-RATIO> .71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
