NNTWX Fees and Costs — Nicholas II, Inc., Class N
Data updated: 2026-09-22
The net expense ratio is 0.90%: a 0.52% management fee, a 0.23% 12b-1 fee plus 0.15% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4K in broker commissions, 0.0004% of average net assets, and portfolio turnover was 0%.
NNTWX Fees and Expenses
Annual operating expenses and sales charges of NNTWX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | 0.23% |
| Other expenses | 0.15% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
NNTWX Costs Over Time
On $10,000 invested in NNTWX, assuming 5% a year before costs, total costs come to $564 over 5 years, cutting the return by 0.95% 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 0.90%) | $94 | $295 | $512 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $15 | $52 |
| Total costs | $95 | $310 | $564 |
| Value after costs | $10,405 | $11,266 | $12,198 |
| Impact on return, per year | 0.95% | 0.95% | 0.95% |
NNTWX 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): 0.0004%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $30.1M
- Portfolio turnover (prospectus): 0%
- Securities lending: none during the year
NNTWX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| William Blair & Company, LLC | $1K | 29.69% |
| Jefferies, LLC | $799 | 22.21% |
| Evercore Group L.L.C. | $658 | 18.31% |
| Robert W. Baird & Co. Incorporated | $536 | 14.92% |
| Barclays Capital Inc. | $242 | 6.73% |
| J.P. Morgan Securities, LLC | $200 | 5.55% |
| Wells Fargo Securities, LLC | $94 | 2.60% |
NNTWX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bank N.A. | $30.1M | 100.00% |
Nicholas II, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| NCTWX | Class I | 0.59% | none |
| NNTWX | Class N | 0.90% | none |
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.