<PAGE> PAGE 1
000 A000000 06/30/1999
000 C000000 0000809802
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
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 INSTINET
020 B000001 13-3443995
020 C000001 18
020 A000002 BEAR STEARNS
020 B000002 13-4946705
020 C000002 16
020 A000003 SALOMON SMITH BARNEY
020 B000003 13-1912900
020 C000003 11
020 A000004 RAYMOND JAMES
020 B000004 59-1237041
020 C000004 9
020 A000005 CREDIT SUISSE FIRST BOSTON
020 B000005 13-5659485
020 C000005 7
020 A000006 GOLDMAN SACHS & CO.
020 B000006 13-5108880
020 C000006 7
020 A000007 A.G. EDWARDS
020 B000007 43-0895447
020 C000007 6
020 A000008 HOWE BARNES
020 B000008 36-6445141
020 C000008 5
020 A000009 SUN TRUST EQUITABLE
020 B000009 62-0871146
020 C000009 5
020 A000010 TUCKER CLEARY GULL
<PAGE> PAGE 2
020 B000010 39-1567700
020 C000010 4
021 000000 112
022 A000001 FIRSTAR BANK MILWAUKEE
022 B000001 39-0281225
022 C000001 91312
022 D000001 48379
022 A000002 MERRILL LYNCH
022 B000002 39-1035790
022 C000002 16746
022 D000002 0
022 A000003 MARSHALL & ILSLEY
022 B000003 39-1610688
022 C000003 15499
022 D000003 0
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 5983
022 D000004 5646
022 A000005 RAYMOND JAMES
022 B000005 59-1237041
022 C000005 1700
022 D000005 7648
022 A000006 WILLIAM BLAIR
022 B000006 36-2214610
022 C000006 941
022 D000006 7904
022 A000007 J.C. BRADFORD
022 B000007 62-0674123
022 C000007 0
022 D000007 8041
022 A000008 ROBERT W. BAIRD
022 B000008 39-6037917
022 C000008 1603
022 D000008 5150
022 A000009 GOLDMAN SACHS
022 B000009 13-5108880
022 C000009 6838
022 D000009 58
022 A000010 CREDIT SUISSE FIRST BOSTON
022 B000010 13-5659485
022 C000010 4056
022 D000010 2742
023 C000000 169397
023 D000000 90502
028 A010000 10239
028 A020000 0
028 A030000 0
028 A040000 12041
028 B010000 7723
028 B020000 0
<PAGE> PAGE 3
028 B030000 0
028 B040000 11591
028 C010000 7171
028 C020000 0
028 C030000 0
028 C040000 13154
028 D010000 9412
028 D020000 0
028 D030000 0
028 D040000 20467
028 E010000 7273
028 E020000 0
028 E030000 0
028 E040000 14111
028 F010000 7253
028 F020000 0
028 F030000 0
028 F040000 7901
028 G010000 49071
028 G020000 0
028 G030000 0
028 G040000 79265
028 H000000 0
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
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
<PAGE> PAGE 4
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 40359
071 B000000 101012
071 C000000 314625
071 D000000 13
072 A000000 6
072 B000000 384
072 C000000 1207
072 D000000 0
072 E000000 0
072 F000000 1209
072 G000000 0
072 H000000 0
072 I000000 86
072 J000000 8
072 K000000 20
072 L000000 11
072 M000000 1
072 N000000 16
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 0
072 S000000 53
072 T000000 0
072 U000000 0
<PAGE> PAGE 5
072 V000000 0
072 W000000 3
072 X000000 1407
072 Y000000 0
072 Z000000 184
072AA000000 25396
072BB000000 0
072CC010000 0
072CC020000 29594
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 24372
074 D000000 0
074 E000000 0
074 F000000 301228
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 8293
074 K000000 0
074 L000000 169
074 M000000 0
074 N000000 334062
074 O000000 738
074 P000000 201
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 139
074 S000000 0
074 T000000 332984
074 U010000 13815
074 U020000 0
074 V010000 24.10
074 V020000 0.00
074 W000000 0.0000
074 X000000 11213
074 Y000000 0
075 A000000 0
075 B000000 330533
076 000000 0.00
077 A000000 N
078 000000 N
<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-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 247417821
<INVESTMENTS-AT-VALUE> 325599465
<RECEIVABLES> 8462227
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 334061692
<PAYABLE-FOR-SECURITIES> 738125
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 339962
<TOTAL-LIABILITIES> 1078087
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 229279204
<SHARES-COMMON-STOCK> 13814837
<SHARES-COMMON-PRIOR> 15171189
<ACCUMULATED-NII-CURRENT> 184431
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 25366774
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 78153196
<NET-ASSETS> 332983605
<DIVIDEND-INCOME> 1207076
<INTEREST-INCOME> 384581
<OTHER-INCOME> 0
<EXPENSES-NET> 1407226
<NET-INVESTMENT-INCOME> 184431
<REALIZED-GAINS-CURRENT> 25395972
<APPREC-INCREASE-CURRENT> (29594697)
<NET-CHANGE-FROM-OPS> (4014294)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2151068
<NUMBER-OF-SHARES-REDEEMED> 3507420
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (34207784)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 29198
<GROSS-ADVISORY-FEES> 1208806
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1407226
<AVERAGE-NET-ASSETS> 330532728
<PER-SHARE-NAV-BEGIN> 24.20
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (0.11)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 24.10
<EXPENSE-RATIO> 0.009
</TABLE>
