UNITES STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Nicholas Company, Inc.
Address: 700 North Water Street
Suite 1010
Milwaukee, WI 53202
Form 13F File Number: 28-1226
The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained therein is true,
correct and complete, and that it is understood that all required items,
statements, schedules, list, and tables, are considered integral parts of
this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Jeffrey T. May
Title: Senior Vice President and Treasurer
Phone: 414-272-4650
Signature, Place, and Date of Signing:
/s/ Jeffrey T. May Milwaukee, WI 5/13/1999
[Signature] [City, State] [Date]
Report Type (check only one.):
[x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
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FORM 13F
NICHOLAS COMPANY, INC.
Item 2: Item 4: Item 5: Item 6:
Item 1: Title Item 3: Fair Market Shares Investment Item 7: Item 8:
Name of of CUSIP Value or Principal Discretion Managers Voting Authority
Issuer Class Number (thousands) Amount (a)Sole See Instr.V (a)Sole (b)Shared (c)None
___________________________________________________________________________________________________________________________________
<C> <C> <C> <C> <C> <C> <C> <C>
Abbott Laboratories COMM 002824100 $80,033 1,709,660 SH 1,709,660 9,660 1,700,000
ABR Information Services, Inc. COMM 00077R108 $6,767 389,465 SH 389,465 40,465 349,000
ADC Telecommunications, Inc. COMM 000886101 $129,696 2,719,700 SH 2,719,700 229,700 2,490,000
AMCORE Financial, Inc. COMM 023912108 $11 525 SH 525 525 0
American Express Company COMM 025816109 $61,547 523,800 SH 523,800 23,800 500,000
American General Corporation COMM 026351106 $3,137 44,500 SH 44,500 29,500 15,000
American Home Products CorporationCOMM 026609107 $131,766 2,019,400 SH 2,019,400 13,400 2,006,000
American International Group, Inc.COMM 026874107 $212,789 1,764,054 SH 1,764,054 12,804 1,751,250
Analysts International CorporationCOMM 032681108 $9,203 800,295 SH 800,295 416,545 383,750
Anicom, Inc. COMM 035250109 $1,314 150,192 SH 150,192 0 150,192
Artesyn Technologies, Inc. COMM 043127109 $30,788 2,487,890 SH 2,487,890 539,490 1,948,400
Asia Satellite Telecommunications COMM 04516X106 $5,624 365,800 SH 365,800 0 365,800
Assisted Living Concepts, Inc. COMM 04543L109 $3,479 976,580 SH 976,580 157,580 819,000
Assisted Living Concepts, Inc.-CVTCVT DB 04543LAD1 $901 1,750,000 PRN 1,750,000 0 1,750,000
Associated Banc-Corp COMM 045487105 $27,157 850,331 SH 850,331 196,848 653,483
Atlantic Richfield Company COMM 048825103 $31,616 433,100 SH 433,100 13,100 420,000
AutoZone, Inc. COMM 053332102 $88,880 2,926,100 SH 2,926,100 341,100 2,585,000
Ballard Medical Products COMM 058566100 $9,560 392,200 SH 392,200 81,000 311,200
Bando McGlocklin Capital CorporatiCOMM 060003100 $729 72,000 SH 72,000 16,500 55,500
Berkshire Hathaway Inc.-Cl A COMM 084670108 $282,673 3,959 SH 3,959 0 3,959
Berkshire Hathaway Inc.-Cl B COMM 084670207 $89 38 SH 38 0 38
BioChem Pharma Inc. COMM 09058T108 $7,246 340,000 SH 340,000 0 340,000
Biogen, Inc. COMM 090597105 $19,719 172,500 SH 172,500 2,500 170,000
Boron, LePore & Associates, Inc. COMM 10001P102 $12,963 1,249,490 SH 1,249,490 167,290 1,082,200
Boston Scientific Corporation COMM 101137107 $41,650 1,026,800 SH 1,026,800 40,800 986,000
Brady Corporation COMM 104674106 $7 325 SH 325 325 0
Burlington Resources Inc. COMM 122014103 $20,448 512,000 SH 512,000 12,000 500,000
Cardinal Health, Inc. COMM 14149Y108 $95,970 1,454,094 SH 1,454,094 131,201 1,322,893
CCA Prison Realty Trust COMM 12486R108 $75,069 4,305,037 SH 4,305,037 311,250 3,993,787
Cedar Fair, L.P. COMM 150185106 $603 24,000 SH 24,000 24,000 0
Checkfree Holdings Corporation COMM 162812101 $22,026 517,500 SH 517,500 0 517,500
Chevron Corporation COMM 166751107 $27,398 309,800 SH 309,800 9,800 300,000
Chubb Corporation (The) COMM 171232101 $35 600 SH 600 600 0
Cincinnati Bell Inc. COMM 171870108 $42,645 1,900,600 SH 1,900,600 140,600 1,760,000
Cincinnati Financial Corporation COMM 172062101 $571 15,657 SH 15,657 15,657 0
Cintas Corporation COMM 172908105 $91,442 1,398,724 SH 1,398,724 26,724 1,372,000
Citigroup Inc. COMM 172967101 $207,722 3,252,000 SH 3,252,000 0 3,252,000
Clear Channel Communications, Inc.COMM 184502102 $38,333 571,600 SH 571,600 0 571,600
CNB Bancshares, Inc. COMM 126126101 $4,761 118,283 SH 118,283 16,526 101,757
Community First Bankshares, Inc. COMM 203902101 $6,203 310,165 SH 310,165 13,665 296,500
Concentra Managed Care, Inc. COMM 20589T103 $7,299 503,385 SH 503,385 33,385 470,000
Concord EFS, Inc. COMM 206197105 $4,675 169,611 SH 169,611 22,111 147,500
Consolidated Stores Corporation COMM 210149100 $82,332 2,716,100 SH 2,716,100 162,000 2,554,100
Convergys Corporation COMM 212485106 $33,716 1,968,800 SH 1,968,800 238,800 1,730,000
Cooper Tire & Rubber Company COMM 216831107 $395 21,500 SH 21,500 21,500 0
Correctional Properties Trust COMM 22025E104 $3,218 214,550 SH 214,550 169,700 44,850
Crescent Real Estate Equities, IncCOMM 225756105 $39,302 1,828,000 SH 1,828,000 328,000 1,500,000
CVS Corporation COMM 126650100 $15,683 330,178 SH 330,178 40,230 289,948
C.H. Robinson Worldwide, Inc. COMM 12541W100 $15,075 592,611 SH 592,611 317,611 275,000
DBT Online, Inc. COMM 233044106 $9,359 376,250 SH 376,250 0 376,250
Dean Foods Company COMM 242361103 $2,672 75,000 SH 75,000 45,000 30,000
DENTSPLY International Inc. COMM 249030107 $226 9,753 SH 0 9,753
Dover Downs Entertainment, Inc. COMM 260086103 $7,412 478,170 SH 478,170 52,290 425,880
Edwards (A.G.), Inc. COMM 281760108 $14,317 438,000 SH 438,000 0 438,000
Elan Corporation, plc COMM 284131208 $65,481 938,792 SH 938,792 9,792 929,000
Eli Lilly and Company COMM 532457108 $8,488 100,000 SH 100,000 0 100,000
Emeritus Corporation-CVT BD CVT BD 291005AA4 $8,961 14,281,000 PRN 14,281,000 0 14,281,000
Entercom Communications Corp. COMM 293639100 $4,253 120,240 SH 120,240 240 120,000
Expeditors International of WashinCOMM 302130109 $31,347 580,500 SH 580,500 72,500 508,000
Fannie Mae COMM 313586109 $238,985 3,451,047 SH 3,451,047 51,047 3,400,000
Fastenal Company COMM 311900104 $91,959 2,622,710 SH 2,622,710 248,210 2,374,500
Fifth Third Bancorp COMM 316773100 $176,137 2,671,278 SH 2,671,278 135,436 2,535,842
First National Bank of Anchorage (COMM 322387101 $18,414 17,706 SH 17,706 0 17,706
Firstar Corporation COMM 33763V109 $89,088 995,400 SH 995,400 0 995,400
Firstmerit Corporation COMM 337915102 $8,601 334,000 SH 334,000 184,000 150,000
Fiserv, Inc. COMM 337738108 $64,245 1,198,050 SH 1,198,050 234,300 963,750
Fleet Financial Group, Inc. COMM 338915101 $75 2,000 SH 2,000 2,000 0
Foremost Corporation of America COMM 345469100 $62,133 3,087,331 SH 3,087,331 346,200 2,741,131
Forest Laboratories, Inc. COMM 345838106 $18,626 330,400 SH 330,400 0 330,400
Franklin Resources, Inc. COMM 354613101 $41,425 1,472,900 SH 1,472,900 33,000 1,439,900
Freddie Mac COMM 313400301 $241,958 4,235,592 SH 4,235,592 64,392 4,171,200
G & K Services, Inc. - Cl A COMM 361268105 $31,972 692,212 SH 692,212 119,000 573,212
General Cable Corporation COMM 369300108 $45,602 4,317,310 SH 4,317,310 507,960 3,809,350
General Motors Corporation - Cl H COMM 370442832 $226,333 4,487,400 SH 4,487,400 262,300 4,225,100
Genuine Parts Company COMM 372460105 $653 22,650 SH 22,650 22,650 0
Glacier Water Trust I PFD 376398202 $5,482 265,000 SH 265,000 0 265,000
Grainger (W.W.), Inc. COMM 384802104 $646 15,000 SH 15,000 15,000 0
Harley-Davidson, Inc. COMM 412822108 $16,934 294,500 SH 294,500 0 294,500
Health Care and Retirement CorporaCOMM 421937103 $69,285 3,037,150 SH 3,037,150 282,000 2,755,150
Health Management Associates, Inc.COMM 421933102 $92,698 7,606,013 SH 7,606,013 686,193 6,919,820
Healthcare Realty Trust IncorporatCOMM 421946104 $1,900 100,000 SH 100,000 0 100,000
Hearst-Argyle Television, Inc. COMM 422317107 $19,006 771,819 SH 771,819 0 771,819
Heartland Express, Inc. COMM 422347104 $78,316 5,156,595 SH 5,156,595 537,926 4,618,669
Home Depot, Inc. (The) COMM 437076102 $73,806 1,185,632 SH 1,185,632 42,432 1,143,200
Homestead Savings - CNV PFD PFD 437843204 $5 5,000 SH 5,000 0 5,000
Household International, Inc. COMM 441815107 $1,998 43,800 SH 43,800 13,800 30,000
Interim Services Inc. COMM 45868P100 $46,251 3,083,372 SH 3,083,372 400,150 2,683,222
International Speedway CorporationCOMM 460335300 $28,449 539,310 SH 539,310 0 539,310
International Speedway CorporationCOMM 460335201 $18,070 342,560 SH 342,560 17,560 325,000
InvestorsBancorp COMM 461833105 $137 17,173 SH 17,173 3,935 13,238
Jacor Communications, Inc. COMM 469858401 $3,800 50,000 SH 50,000 0 50,000
Keane, Inc. COMM 486665102 $14,343 673,000 SH 673,000 193,000 480,000
Knight Transportation, Inc. COMM 499064103 $15,736 812,177 SH 812,177 350,927 461,250
Kohl's Corporation COMM 500255104 $90,651 1,279,020 SH 1,279,020 14,320 1,264,700
Landauer, Inc. COMM 51476K103 $965 40,000 SH 40,000 10,000 30,000
LaSalle Re Holdings Limited COMM G5383Q101 $236 16,000 SH 16,000 0 16,000
Leggett & Platt, Incorporated COMM 524660107 $31,850 1,592,512 SH 1,592,512 82,512 1,510,000
Liberty Financial Companies, Inc. COMM 530512102 $13,007 552,000 SH 552,000 144,500 407,500
Loral Space & Communications Ltd. COMM G56462107 $35,096 2,430,900 SH 2,430,900 236,000 2,194,900
Marsh & McLennan Companies, Inc. COMM 571748102 $1,113 15,000 SH 15,000 5,000 10,000
Marshall & Ilsley Corporation COMM 571834100 $226,746 4,090,113 SH 4,090,113 123,350 3,966,763
McDonald's Corporation COMM 580135101 $73,333 1,618,388 SH 1,618,388 18,388 1,600,000
Medallion Financial Corp. COMM 583928106 $3,766 250,000 SH 250,000 0 250,000
Medtronic, Inc. COMM 585055106 $82,377 1,148,110 SH 1,148,110 23,167 1,124,943
Mercury General Corporation COMM 589400100 $160,484 4,601,692 SH 4,601,692 166,092 4,435,600
Merrill Lynch & Co., Inc. COMM 590188108 $70,750 800,000 SH 800,000 0 800,000
MGIC Investment Corporation COMM 552848103 $56 1,600 SH 1,600 1,600 0
Mobil Corporation COMM 607059102 $36,080 410,000 SH 410,000 0 410,000
Monsanto Company COMM 611662107 $84,318 1,835,500 SH 1,835,500 35,500 1,800,000
Motorola, Inc. COMM 620076109 $64,506 880,628 SH 880,628 30,628 850,000
Mutual Risk Management Ltd. COMM 628351108 $125,536 3,281,988 SH 3,281,988 403,988 2,878,000
National City Bancorporation COMM 635312101 $5,199 247,554 SH 247,554 25,974 221,580
National Health Investors, Inc. COMM 63633D104 $39,962 1,858,700 SH 1,858,700 54,400 1,804,300
National Health Realty, Inc. COMM 635905102 $8,060 732,742 SH 732,742 50,914 681,828
National HealthCare Corporation COMM 63633R103 $10,492 1,291,284 SH 1,291,284 33,344 1,257,940
Nationwide Financial Services, IncCOMM 638612101 $773 18,400 SH 18,400 18,400 0
NCS Healthcare, Inc. COMM 628874109 $5,855 487,930 SH 487,930 30,430 457,500
Newell Rubbermaid, Inc. COMM 651229106 $23,577 496,350 SH 496,350 182,500 313,850
Omega Healthcare Investors, Inc. COMM 681936100 $2,523 110,000 SH 110,000 0 110,000
Omnicare, Inc. COMM 681904108 $17,557 921,000 SH 921,000 247,000 674,000
Osteotech, Inc. COMM 688582105 $4,810 139,934 SH 139,934 14,684 125,250
O'Reilly Automotive, Inc. COMM 686091109 $16,941 378,565 SH 378,565 93,565 285,000
PanAmSat Corporation COMM 69830X108 $19,982 642,000 SH 642,000 137,000 505,000
Patterson Dental Company COMM 703412106 $39,225 906,940 SH 906,940 176,790 730,150
Penske Motorsports, Inc. COMM 709598106 $11,439 324,500 SH 324,500 0 324,500
PepsiCo, Inc. COMM 713448108 $458 11,700 SH 11,700 11,700 0
Pfizer Inc. COMM 717081103 $55,500 400,000 SH 400,000 0 400,000
Pitney Bowes Inc. COMM 724479100 $612 9,600 SH 9,600 9,600 0
Plantronics, Inc. COMM 727493108 $6,256 100,000 SH 100,000 0 100,000
Poe & Brown, Inc. COMM 730444106 $18,489 557,093 SH 557,093 297,293 259,800
Progressive Corporation (The) COMM 743315103 $100,450 700,000 SH 700,000 0 700,000
Protective Life Corporation COMM 743674103 $155,933 4,117,040 SH 4,117,040 350,040 3,767,000
PSS World Medical, Inc. COMM 69366AA10 $22,354 2,536,625 SH 2,536,625 423,500 2,113,125
Pulitzer Inc. COMM 745769109 $19,041 470,866 SH 470,866 0 470,866
PXRE Corporation COMM 693674103 $270 15,000 SH 15,000 0 15,000
Quintiles Transnational Corp. COMM 748767100 $9,354 247,775 SH 247,775 0 247,775
Quorum Health Group, Inc. COMM 749084109 $57,395 5,739,500 SH 5,739,500 413,750 5,325,750
Qwest Communications InternationalCOMM 749121109 $120,805 1,675,662 SH 1,675,662 122,426 1,553,236
Reckson Associates Realty Corp. COMM 75621K106 $28,777 1,399,500 SH 1,399,500 199,500 1,200,000
Regions Financial Corporation COMM 758940100 $8,100 233,944 SH 233,944 233,944 0
Renal Care Group, Inc. COMM 759930100 $6,710 341,925 SH 341,925 15,675 326,250
Republic Services, Inc. COMM 760759100 $87,273 5,391,400 SH 5,391,400 496,500 4,894,900
ResaissanceRe Holdings Ltd. COMM G7496G103 $280 8,000 SH 8,000 0 8,000
Respironics, Inc. COMM 761230101 $9,837 745,944 SH 745,944 304,944 441,000
Res-Care, Inc. COMM 760943100 $8,989 398,393 SH 398,393 33,143 365,250
RPM, Inc. COMM 749685103 $7,443 559,079 SH 559,079 479,079 80,000
Select Appointments (Holdings) PubCOMM 81617E203 $30,130 1,129,000 SH 1,129,000 229,000 900,000
ServiceMaster Company (The) COMM 81760N109 $49,439 2,433,900 SH 2,433,900 312,100 2,121,800
Sonoco Products Company COMM 835495102 $1,268 55,114 SH 55,114 55,114 0
State Financial Services CorporatiCOMM 856855101 $1,721 143,397 SH 143,397 0 143,397
Stryker Corporation COMM 863667101 $90,933 1,802,890 SH 1,802,890 102,890 1,700,000
St. Jude Medical, Inc. COMM 790849103 $62,278 2,555,000 SH 2,555,000 91,500 2,463,500
Superior Services, Inc. COMM 868316100 $28,507 1,438,858 SH 1,438,858 108,758 1,330,100
Sybron International Corporation COMM 87114F106 $113,728 4,549,100 SH 4,549,100 370,400 4,178,700
TESSCO Technologies Incorporated COMM 872386107 $8,883 420,475 SH 420,475 183,475 237,000
Thermedics Inc. COMM 883901100 $10,609 1,502,100 SH 1,502,100 366,000 1,136,100
Thermo BioAnalysis Corporation COMM 88355H108 $9,859 542,100 SH 542,100 0 542,100
Thermo Electron Corporation COMM 883556102 $54,482 4,017,125 SH 4,017,125 245,800 3,771,325
Thermo Instrument Systems Inc. COMM 883559106 $21,732 1,505,250 SH 1,505,250 210,750 1,294,500
Thermo Optek Corporation CVT BD 883582AA6 $2,910 3,000,000 PAR 3,000,000 0 3,000,000
Thermo Optek Corporation COMM 883582108 $4,309 430,891 SH 430,891 63,891 367,000
Thermo Vision Corporation COMM 883600108 $1,328 408,580 SH 408,580 0 408,580
ThermoQuest Corporation COMM 883655102 $6,868 566,430 SH 566,430 57,730 508,700
Tootsie Roll Industries, Inc. COMM 890516107 $46,206 1,003,123 SH 1,003,123 0 1,003,123
Trex Medical Corporation COMM 89531R101 $2,435 389,650 SH 389,650 0 389,650
TriNet Corporate Realty Trust, IncCOMM 896287109 $216 8,500 SH 8,500 8,500 0
Univision Communications Inc. COMM 914906102 $6,715 134,300 SH 134,300 0 134,300
USA Networks, Inc. COMM 902984103 $72,216 2,016,500 SH 2,016,500 84,000 1,932,500
U.S. Bancorp COMM 902973106 $39,059 1,146,700 SH 1,146,700 0 1,146,700
U.S. Foodservice COMM 90331R101 $5,348 115,000 SH 115,000 0 115,000
Valspar Corporation (The) COMM 920355104 $70,878 2,245,650 SH 2,245,650 201,850 2,043,800
Ventas, Inc. COMM 92276F100 $17,282 2,880,351 SH 2,880,351 221,100 2,659,251
Vulcan Materials Company COMM 929160109 $37,181 900,000 SH 900,000 0 900,000
Waddell & Reed Financial, Inc.-Cl COMM 930059100 $3,237 157,900 SH 157,900 117,900 40,000
Walgreen Co. COMM 931422109 $70,781 2,505,512 SH 2,505,512 105,512 2,400,000
Walt Disney Company (The) COMM 254687106 $29,615 951,500 SH 951,500 1,500 950,000
Watson Pharmaceuticals, Inc. COMM 942683103 $57,852 1,311,093 SH 1,311,093 0 1,311,093
Wells Fargo & Company COMM 949746101 $16,668 475,384 SH 475,384 75,384 400,000
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$7,036,113
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Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 178
Form 13F Information Table Value Total: $7,036,113
List of Other Included Managers: NONE
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is
filed, other than the manager filing this report.
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