Nicholas High Income Fund, Inc. Portfolio Manager

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Lawrence J. Pavelec, CFA

Chief Operating Officer, Senior Vice President and Portfolio Manager
Industry experience: 32 years
Nicholas Company Tenure: 13 years


Larry Pavelec serves in a leadership position for Nicholas Company as the Chief Operating Officer and head of product distribution.  This position involves collaborating with the other senior members of the Management Committee on strategic initiatives for the Company.  He also serves as an analyst and client portfolio manager for the separately managed account equity portfolios and manager for the Nicholas High Income Fund, a high yield corporate bond fund.

As portfolio manager for the high yield corporate fund, he employs a bottom-up, value approach philosophy that focuses on companies with sufficient earnings growth and adequate asset coverage to meet debt obligations. Nicholas High Income Fund is generally positioned with a short-to-intermediate maturity structure and securities that we believe tend to provide more stability during difficult markets, while generating a market level of income consistent with the high yield corporate sector.

Larry joined Nicholas Company in 2003, to serve as the portfolio manager for the Nicholas High Income Fund and lead the product distribution effort.  Larry's career as a credit analyst and portfolio manager began in 1984 with M&I Investment Management Corp., where he focused on investment-grade corporate bonds, asset-backed securities and mortgage-backed securities. Before joining Nicholas, he was with Brandes Investment Partners as the co-manager for Brandes Fixed Income Partners, serving as portfolio manager and head of marketing for the firm.

Larry earned his B.S. in Finance from the University of Wisconsin at La Crosse. He has served on various non-profit boards over the years including the Mequon-Theinsville Education Foundation and North Shore County Club.  He has earned the right to use the CFA designation and is a member of the CFA Society Milwaukee.



The Nicholas Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of any Nicholas Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. 

Please refer to each prospectus for important information about each investment company, including investment objectives, risks, charges and expenses. 

Mutual fund investing involves risk; principal loss is possible. Small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities such as limited liquidity and great volatility. Investment by the Funds in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. 

Past performance does not guarantee future results.

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

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Nicholas Funds are distributed by Quasar Distributors, LLC