NICSX Fees and Costs — Nicholas Fund, Inc., Nicholas Fund Inc.
Data updated: 2026-09-22
The net expense ratio is 0.70%: a 0.65% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $488K in broker commissions, 0.0119% of average net assets, and portfolio turnover was 9%.
NICSX Fees and Expenses
Annual operating expenses and sales charges of NICSX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.70% |
| Fee waiver | — |
| Net expense ratio | 0.70% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
NICSX Costs Over Time
On $10,000 invested in NICSX, assuming 5% a year before costs, total costs come to $448 over 5 years, cutting the return by 0.75% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.70%) | $74 | $230 | $400 |
| Trading costs (broker commissions) | $1 | $4 | $7 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $245 | $448 |
| Value after costs | $10,425 | $11,331 | $12,315 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
NICSX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0119%
- Total broker commissions: $488K
- Bought from dealers (principal trades, not a cost): $1.7B
- Portfolio turnover (prospectus): 9%
- Securities lending: none during the year
NICSX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS Securities LLC | $92K | 21.69% |
| William Blair & Company, LLC | $65K | 15.24% |
| Robert W. Baird & Co. Incorporated | $60K | 14.27% |
| Wells Fargo Securities, LLC | $59K | 13.93% |
| Barclays Capital Inc. | $32K | 7.46% |
| J.P. Morgan Securities, LLC | $30K | 7.10% |
| Raymond James & Associates Inc. | $26K | 6.04% |
| Evercore Group L.L.C. | $23K | 5.36% |
| Jefferies, LLC | $22K | 5.10% |
| KeyBanc Capital Markets Inc. | $16K | 3.81% |
NICSX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $1.7B | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.