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Mr. Jeffrey T. May is Senior Vice President, Treasurer and the Portfolio Manager of the Fund and is primarily responsible for the day-to-day management of the Fund's portfolio. Jeffery T. May is Executive Vice President, Treasurer, CFO and CCO of the Adviser, and has been employed by the Adviser since 1987. He is a Certified Public Accountant.

Diversification does not assure a profit nor protect against loss in a declining market.

Glossary of terms

Nicholas Funds are distributed by Quasar Distributors, LLC


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