NICHOLAS LIMITED EDITION INC
NSAR-A, 1997-08-29
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0000809802
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 LIMITED EDITION
001 B000000 811-4993
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
020 A000001 MORGAN STANLEY
020 B000001 13-2655978
020 C000001     22
020 A000002 ROBERT W. BAIRD
020 B000002 39-6037917
020 C000002     21
020 A000003 INSTINET
020 B000003 13-3443995
020 C000003      9
020 A000004 FOX-PITT, KELTON, INC.
020 B000004 06-1058201
020 C000004      5
020 A000005 ROBERTSON STEPHENS
020 B000005 94-2524501
020 C000005      5
020 A000006 NATWEST SECURITIES
020 B000006 13-3312778
020 C000006      4
020 A000007 PIPER JAFFRAY & HOPWOOD
020 B000007 41-0953246
020 C000007      4
020 A000008 FURMAN SELZ
020 B000008 13-2753731
020 C000008      3
020 A000009 WILLIAM BLAIR
020 B000009 36-2214610
020 C000009      2
020 A000010 CLEARY GULL
<PAGE>      PAGE  2
020 B000010 39-1567700
020 C000010      2
021  000000       84
022 A000001 FIRSTAR TRUST CO.
022 B000001 39-0281260
022 C000001     31451
022 D000001     34080
022 A000002 MARSHALL & ILSLEY
022 B000002 39-1610688
022 C000002     46253
022 D000002      1000
022 A000003 FIRST BOSTON
022 B000003 13-5659485
022 C000003     27602
022 D000003      1501
022 A000004 FIRSTAR INVESTMENT
022 B000004 39-0281225
022 C000004     14480
022 D000004         0
022 A000005 MORGAN STANLEY
022 B000005 13-2655978
022 C000005     13710
022 D000005         0
022 A000006 ALEX BROWN
022 B000006 52-1319768
022 C000006      4573
022 D000006      2673
022 A000007 CLEARY GULL
022 B000007 39-1567700
022 C000007      4503
022 D000007      1470
022 A000008 GS-2 SECURITIES
022 B000008 39-1464853
022 C000008       923
022 D000008      3270
022 A000009 MERRILL LYNCH
022 B000009 39-1035790
022 C000009      4000
022 D000009         0
022 A000010 J.C. BRADFORD
022 B000010 62-0674123
022 C000010      3704
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070 A010000 Y
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<PAGE>      PAGE  4
070 E020000 N
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070 G010000 N
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070 H010000 N
070 H020000 N
070 I010000 N
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070 J010000 Y
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
SIGNATURE   THOMAS J. SAEGER                             
TITLE       EXEC VICE PRESIDENT 
 


<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        175022177
<INVESTMENTS-AT-VALUE>                       265852372
<RECEIVABLES>                                  3952316
<ASSETS-OTHER>                                  187530
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               269992218
<PAYABLE-FOR-SECURITIES>                        650688
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       199370
<TOTAL-LIABILITIES>                             850058
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     159577692
<SHARES-COMMON-STOCK>                         11261401
<SHARES-COMMON-PRIOR>                         11221989
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       18656029
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<DIVIDEND-INCOME>                               556359
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1010687
<NET-INVESTMENT-INCOME>                         101656
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<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        1111683
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<SHARES-REINVESTED>                                  0
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<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1010687
<AVERAGE-NET-ASSETS>                         240301269
<PER-SHARE-NAV-BEGIN>                           20.740
<PER-SHARE-NII>                                   .010
<PER-SHARE-GAIN-APPREC>                          3.150
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             23.900
<EXPENSE-RATIO>                                   .850
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>


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