UNITES STATES
                   SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               FORM 13F
                          Form 13F COVER PAGE

Report for the Calendar Year or Quarter Ended:  June 30, 2000

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                   8/11/000
[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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NICHOLAS COMPANY, INC.
                <C>               <C>          <C>        <C>       <C>            <C>                <C>
                                 Item 2:                 Item 4:   Item 5:       Item 6:
              Item 1:             Title       Item 3:  Fair MarketShares or    Investment            Item 8:
              Name of               of         CUSIP   Value (in  Principal    Discretion        Voting Authority
              Issuer              Class        Number  thousands)   Amount       (a)Sole   (a)Sole  (b)Shared (c)None
____________________________________________________________________________   ________________________________________

A     Agilent Technologies, ICOM             00846U101     12,148   164,722 SHS   164,722     2,627            162,095
AAPL  Apple Computer, Inc.   COM             037833100     13,879   265,000 SHS   265,000    71,000            194,000
ABS   Albertson's, Inc.      COM             013104104      1,393    41,900 SHS    41,900    36,900              5,000
ABT   Abbott Laboratories    COM             002824100     84,636 1,899,260 SHS 1,899,260    49,260          1,850,000
ADAP  Adaptive Broadband CorpCOM             00650M104      1,507    41,000 SHS    41,000     1,000             40,000
ADCT  ADC Telecommunications,COM             000886101    106,060 1,264,500 SHS 1,264,500    44,500          1,220,000
AGC   American General CorporCOM             026351106      2,977    48,800 SHS    48,800    41,800              7,000
AHP   American Home Products COM             026609107     69,466 1,182,400 SHS 1,182,400    13,400          1,169,000
AIG   American International COM             026874107         94       802 SHS       802       802                  0
ALA   Alcatel                COM             013904305     33,250   500,000 SHS   500,000         0            500,000
AMT   American Tower CorporatCL A            029912201      4,252   102,000 SHS   102,000     2,000            100,000
ANDW  Andrew Corporation     COM             034425108     11,217   334,200 SHS   334,200    19,200            315,000
AOC   Aon Corporation        COM             037389103        621    20,000 SHS    20,000         0             20,000
APCS  Alamosa PCS Holdings, ICOM             011593100      3,444   165,000 SHS   165,000         0            165,000
ATON  Alteon WebSystems, Inc.COM             02145A109      3,002    30,000 SHS    30,000         0             30,000
ATSN  Artesyn Technologies, ICOM             043127109     36,076 1,297,100 SHS 1,297,100   373,700            923,400
AUD   Automatic Data ProcessiCOM             053015103     46,487   867,900 SHS   867,900    17,900            850,000
AUGT  August Technology CorpoCOM             05106U105        575    35,000 SHS    35,000         0             35,000
AVY   Avery Dennison CorporatCOM             053611109        269     4,000 SHS     4,000         0              4,000
AZO   AutoZone, Inc.         COM             053332102      1,274    57,900 SHS    57,900    57,900                  0
BCHE  BioChem Pharma Inc.    COM             09058T108      8,373   340,000 SHS   340,000         0            340,000
BGEN  Biogen, Inc.           COM             090597105      9,894   153,400 SHS   153,400    33,400            120,000
BMET  Biomet, Inc.           COM             090613100     22,486   585,000 SHS   585,000   130,000            455,000
BOBJ  Business Objects S.A.  SPONSORED ADR   12328X107      4,406    50,000 SHS    50,000         0             50,000
BPA   BP Amoco Plc           SPONSORED ADR   055622104         57     1,000 SHS     1,000     1,000                  0
BRCD  Brocade Communications COM             111621108      6,422    35,000 SHS    35,000         0             35,000
BRKS  Brooks Automation, Inc.COM             11434A100     13,747   215,000 SHS   215,000         0            215,000
BRK/A Berkshire Hathaway Inc.CL A            084670108     86,026     1,599 SHS     1,599         0              1,599
BRNC  Braun Consulting, Inc. COM             105651103      3,274   155,000 SHS   155,000         0            155,000
BRO   Brown & Brown, Inc.    COM             115236101     14,297   274,950 SHS   274,950   144,950            130,000
BSX   Boston Scientific CorpoCOM             101137107     65,940 3,005,800 SHS 3,005,800   235,800          2,770,000
C     Citigroup Inc.         COM             172967101     93,568 1,553,000 SHS 1,553,000         0          1,553,000
CAH   Cardinal Health, Inc.  COM             14149Y108    126,456 1,708,870 SHS 1,708,870   155,977          1,552,893
CBH   Commerce Bancorp, Inc. COM             200519106      4,589    99,750 SHS    99,750         0             99,750
CCRD  Concord Communications,COM             206186108      2,712    68,000 SHS    68,000         0             68,000
CCU   Clear Channel CommunicaCOM             184502102    106,692 1,422,565 SHS 1,422,565    81,100          1,341,465
CEFT  Concord EFS, Inc.      COM             206197105     26,111 1,004,250 SHS 1,004,250   183,000            821,250
CFBX  Community First BankshaCOM             203902101      3,369   206,500 SHS   206,500         0            206,500
CHRW  C.H. Robinson WorldwideCOM             12541W100      3,445    69,600 SHS    69,600     4,600             65,000
CINF  Cincinnati Financial CoCOM             172062101        184     5,856 SHS     5,856     5,856                  0
CNMD  CONMED Corporation     COM             207410101      6,728   260,000 SHS   260,000         0            260,000
CPQ   Compaq Computer CorporaCOM             204493100     47,291 1,850,000 SHS 1,850,000    50,000          1,800,000
CPS   ChoicePoint Inc.       COM             170388102     25,917   582,408 SHS   582,408     1,575            580,833
CPV   Correctional PropertiesCOM             22025E104        576    54,850 SHS    54,850         0             54,850
CSC   Computer Sciences CorpoCOM             205363104     32,116   430,000 SHS   430,000     5,000            425,000
CSCO  Cisco Systems, Inc.    COM             17275R102     41,316   650,000 SHS   650,000         0            650,000
CTAS  Cintas Corporation     COM             172908105    124,137 3,383,636 SHS 3,383,636   206,286          3,177,350
CTXS  Citrix Systems, Inc.   COM             177376100     15,266   806,100 SHS   806,100    58,600            747,500
CVS   CVS Corporation        COM             126650100     84,612 2,115,306 SHS 2,115,306   185,358          1,929,948
DF    Dean Foods Company     COM             242361103        421    13,300 SHS    13,300    13,300                  0
DG    Dollar General CorporatCOM             256669102      1,990   102,075 SHS   102,075    77,075             25,000
DIGL  Digital Lightwave, Inc.COM             253855100      2,011    20,000 SHS    20,000         0             20,000
DIS   Walt Disney Company (ThCOM             254687106     72,575 1,869,900 SHS 1,869,900    69,900          1,800,000
DTPI  Diamond Technology PartCL A            252762109      2,640    30,000 SHS    30,000         0             30,000
EDS   Electronic Data SystemsCOM             285661104     32,790   794,900 SHS   794,900    19,900            775,000
ELN   Elan Corporation, plc  ADR             284131208     77,616 1,602,400 SHS 1,602,400         0          1,602,400
EMC   EMC Corporation        COM             268648102     38,469   500,000 SHS   500,000         0            500,000
EMMS  Emmis Communications CoCL A            291525103      5,577   134,800 SHS   134,800         0            134,800
ENTU  Entrust Technologies InCOM             293848107     15,871   191,800 SHS   191,800    46,800            145,000
ESC.CVEmeritus Corporation-CVSDCV144A 6.25%06291005AA4      5,148 8,781,000 PRN 8,781,000         0          8,781,000
ETM   Entercom CommunicationsCL A            293639100      3,510    72,000 SHS    72,000         0             72,000
EXPD  Expeditors InternationaCOM             302130109     22,848   481,000 SHS   481,000    81,000            400,000
FAST  Fastenal Company       COM             311900104     96,086 1,898,000 SHS 1,898,000   132,500          1,765,500
FBF   Fleet Boston Financial COM             339030108         68     2,000 SHS     2,000     2,000                  0
FISV  Fiserv, Inc.           COM             337738108     20,363   470,825 SHS   470,825   120,200            350,625
FITB  Fifth Third Bancorp    COM             316773100     84,022 1,328,414 SHS 1,328,414   102,572          1,225,842
FMER  Firstmerit Corporation COM             337915102      2,052    96,000 SHS    96,000    96,000                  0
FNM   Fannie Mae             COM             313586109         42       800 SHS       800       800                  0
FON   Sprint Corporation     COM FON GROUP   852061100     63,225 1,239,700 SHS 1,239,700    39,700          1,200,000
FRE   Freddie Mac            COM             313400301     83,883 2,071,192 SHS 2,071,192    55,992          2,015,200
FRX   Forest Laboratories, InCOM             345838106     13,170   130,400 SHS   130,400         0            130,400
FSR   Firstar Corporation    COM             33763V109      1,142    54,208 SHS    54,208    32,400             21,808
FTHL  FLAG Telecom Holdings LCOM             G3529L102      5,548   373,000 SHS   373,000         0            373,000
FUN   Cedar Fair, L.P.       DEPOSITRY UNIT  150185106        462    24,000 SHS    24,000    24,000                  0
GDT   Guidant Corporation    COM             401698105     91,080 1,840,000 SHS 1,840,000    63,500          1,776,500
GKSRA G & K Services, Inc. - CL A            361268105     11,559   461,212 SHS   461,212    53,000            408,212
GM    General Motors CorporatCOM             370442105        553     9,521 SHS     9,521         0              9,521
GMH   General Motors CorporatCL H NEW        370442832    161,293 1,838,100 SHS 1,838,100   117,200          1,720,900
GO    go.com                 COM             254687205      1,134    95,000 SHS    95,000         0             95,000
GPC   Genuine Parts Company  COM             372460105      1,263    63,150 SHS    63,150    48,150             15,000
GTE   GTE Corporation        COM             362320103     41,104   660,300 SHS   660,300    26,300            634,000
GTS   Global TeleSystems GrouCOM             37936U104     38,003 3,150,500 SHS 3,150,500   200,500          2,950,000
GTW   Gateway, Inc.          COM             367626108     36,888   650,000 SHS   650,000         0            650,000
GWW   Grainger (W.W.), Inc.  COM             384802104         49     1,600 SHS     1,600     1,600                  0
HD    Home Depot, Inc. (The) COM             437076102      1,708    34,198 SHS    34,198    34,198                  0
HDI   Harley-Davidson, Inc.  COM             412822108     60,064 1,560,100 SHS 1,560,100    36,100          1,524,000
HFDC  HomeFed Corporation    COM             43739D208        510   760,625 SHS   760,625         0            760,625
HFLpA Homestead Savings - CNVPFD A CV $2.95  437843204          5     5,000 SHS     5,000         0              5,000
HI    Household InternationalCOM             441815107        989    23,800 SHS    23,800     7,800             16,000
HMA   Health Management AssocCL A            421933102     80,819 6,187,138 SHS 6,187,138   515,218          5,671,920
HOOpA Glacier Water Trust I  PFD A           376398202      4,505   265,000 SHS   265,000         0            265,000
HRS   Harris Corporation     COM             413875105     18,979   579,500 SHS   579,500   159,500            420,000
HWP   Hewlett-Packard CompanyCOM             428236103     53,934   431,900 SHS   431,900     6,900            425,000
IBM   International Business COMM            459200101     40,593   370,500 SHS   370,500    20,500            350,000
INAP  InterNAP Network ServicCOM             45885A102      5,397   130,000 SHS   130,000         0            130,000
INFT  Inforte Corp.          COM             45677R107      3,492    97,000 SHS    97,000         0             97,000
INTC  Intel Corporation      COM             458140100     69,718   521,500 SHS   521,500     6,000            515,500
IPG   Interpublic Group of CoCOM             460690100        602    14,000 SHS    14,000         0             14,000
IS    Interim Services Inc.  COM             45868P100      2,968   167,222 SHS   167,222         0            167,222
ISCA  International Speedway CL A            460335201     16,374   395,736 SHS   395,736         0            395,736
ISCB  International Speedway CL B            460335300      4,150   100,000 SHS   100,000         0            100,000
ISSX  ISS Group, Inc.        COM             450306105      6,911    70,000 SHS    70,000         0             70,000
ITCD  ITC/\DeltaCom, Inc.    COM             45031T104      3,615   162,000 SHS   162,000     2,000            160,000
KEA   Keane, Inc.            COM             486665102     20,155   932,000 SHS   932,000   164,000            768,000
KNGT  Knight Transportation, COM             499064103      5,101   350,251 SHS   350,251   113,001            237,250
KSS   Kohl's Corporation     COM             500255104     86,207 1,549,780 SHS 1,549,780    16,780          1,533,000
LAMR  Lamar Advertising CompaCL A            512815101     12,500   288,600 SHS   288,600    88,600            200,000
LDR   Landauer, Inc.         COM             51476K103        623    40,000 SHS    40,000    10,000             30,000
LEG   Leggett & Platt, IncorpCOM             524660107        323    19,600 SHS    19,600    19,600                  0
LLY   Eli Lilly and Company  COM             532457108     78,092   781,900 SHS   781,900     6,900            775,000
LOR   Loral Space & CommunicaCOM             G56462107     26,093 3,761,100 SHS 3,761,100   284,000          3,477,100
LU    Lucent Technologies IncCOM             549463107     26,663   450,000 SHS   450,000         0            450,000
LZB   La-Z-Boy Incorporated  COM             505336107      1,226    87,600 SHS    87,600    67,600             20,000
MCD   McDonald's Corporation COM             580135101     52,087 1,581,388 SHS 1,581,388    20,388          1,561,000
MCHP  Microchip Technology InCOM             595017104      5,535    95,000 SHS    95,000         0             95,000
MCY   Mercury General CorporaCOM             589400100    102,251 4,328,092 SHS 4,328,092    92,792          4,235,300
MDT   Medtronic, Inc.        COM             585055106     52,144 1,046,810 SHS 1,046,810    23,014          1,023,796
MEDI  MedImmune, Inc.        COM             584699102      4,610    62,300 SHS    62,300    17,300             45,000
MER   Merrill Lynch & Co., InCOM             590188108     80,776   702,400 SHS   702,400     2,400            700,000
MERQ  Mercury Interactive CorCOM             589405109      5,321    55,000 SHS    55,000         0             55,000
MI    Marshall & Ilsley CorpoCOM             571834100    110,133 2,653,813 SHS 2,653,813   103,850          2,549,963
MMC   Marsh & McLennan CompanCOM             571748102        940     9,000 SHS     9,000     6,000              3,000
MONE  MatrixOne, Inc.        COM             57685P304      3,392    83,500 SHS    83,500         0             83,500
MOT   Motorola, Inc.         COM             620076109     75,681 2,604,084 SHS 2,604,084    54,084          2,550,000
MSFT  Microsoft Corporation  COM             594918104     63,944   799,300 SHS   799,300    24,300            775,000
MTG   MGIC Investment CorporaCOM             552848103         73     1,600 SHS     1,600     1,600                  0
MWD   Morgan Stanley Dean WitCOM NEW         617446448     59,441   714,000 SHS   714,000    26,000            688,000
NBCI  NBC Internet, Inc.     CL A            62873D105      8,063   645,000 SHS   645,000   145,000            500,000
NCBC  National Commerce BancoCOM             635449101     14,280   889,000 SHS   889,000   319,000            570,000
NCBM  National City BancorporCOM             635312101      3,213   221,580 SHS   221,580         0            221,580
NFS   Nationwide Financial SeCL A            638612101     26,767   814,200 SHS   814,200   294,200            520,000
NHC   National HealthCare CorCOM             636906100      6,102 1,109,452 SHS 1,109,452    10,000          1,099,452
NHI   National Health InvestoCOM             63633D104     19,148 1,740,700 SHS 1,740,700    55,400          1,685,300
NHR   National Health Realty,COM             635905102      5,723   709,828 SHS   709,828    28,000            681,828
NIS   NOVA Corporation       COM             669784100      5,867   210,000 SHS   210,000         0            210,000
NOK   Nokia OYJ              SPONSORED ADR   654902204     39,950   800,000 SHS   800,000         0            800,000
NT    Nortel Networks CorporaCOM             656569100     58,013   850,000 SHS   850,000         0            850,000
NXLK  NEXTLINK CommunicationsCL A            65333H707     19,728   520,000 SHS   520,000    20,000            500,000
OCR   Omnicare, Inc.         COM             681904108      1,604   177,000 SHS   177,000   177,000                  0
OPTV  OpenTV Corp.           CL A            G67543101      2,468    55,000 SHS    55,000         0             55,000
ORCL  Oracle Corporation     COM             68389X105     47,916   570,000 SHS   570,000         0            570,000
ORLY  O'Reilly Automotive, InCOM             686091109     18,476 1,331,600 SHS 1,331,600   321,600          1,010,000
OSI   Outback Steakhouse, IncCOM             689899102     11,823   404,200 SHS   404,200    94,200            310,000
OTGS  OTG Software, Inc.     COM             671059103      2,571    90,000 SHS    90,000         0             90,000
PAYX  Paychex, Inc.          COM             704326107     13,755   327,500 SHS   327,500         0            327,500
PBI   Pitney Bowes Inc.      COM             724479100        400    10,000 SHS    10,000         0             10,000
PCS   Sprint Corp. (PCS GroupPCS COM SER 1   852061506     45,155   758,900 SHS   758,900    13,900            745,000
PCSA  AirGate PCS, Inc.      COM             009367103      2,733    52,000 SHS    52,000         0             52,000
PDCO  Patterson Dental CompanCOM             703412106     10,299   201,950 SHS   201,950    43,800            158,150
PEP   PepsiCo, Inc.          COM             713448108         36       800 SHS       800       800                  0
PFE   Pfizer Inc.            COM             717081103     52,800 1,100,000 SHS 1,100,000         0          1,100,000
PHA   Pharmacia Corporation  COM             71713U102     42,666   825,470 SHS   825,470    34,900            790,570
PL    Protective Life CorporaCOM             743674103     98,583 3,702,640 SHS 3,702,640   320,640          3,382,000
PLT   Plantronics, Inc.      COM             727493108      9,240    80,000 SHS    80,000         0             80,000
PRDS  Predictive Systems, IncCOM             74036W102      6,109   170,000 SHS   170,000         0            170,000
PSSI  PSS World Medical, Inc.COM             69366A100     12,367 1,840,625 SHS 1,840,625   310,000          1,530,625
PXCM  Proxicom, Inc.         COM             744282104      8,139   170,000 SHS   170,000         0            170,000
Q     Qwest Communications InCOM             749121109    143,230 2,882,626 SHS 2,882,626   151,154          2,731,472
QCOM  QUALCOMM Incorporated  COM             747525103     19,500   325,000 SHS   325,000         0            325,000
QLGC  Qlogic Corporation     COM             747277101      5,615    85,000 SHS    85,000         0             85,000
RA    Reckson Associates RealCOM             75621K106      1,285    54,100 SHS    54,100    54,100                  0
RApA  Reckson Associates RealPFD CV SER A%   75621K205        455    20,500 SHS    20,500         0             20,500
RATL  Rational Software CorpoCOM NEW         75409P202     50,930   548,000 SHS   548,000    28,000            520,000
RCGI  Renal Care Group, Inc. COM             759930100     34,803 1,423,250 SHS 1,423,250   237,000          1,186,250
REMC  REMEC, Inc.            COM             759543101      1,884    45,000 SHS    45,000         0             45,000
ROIA  Radio One, Inc.        CL A            75040P108      1,035    35,000 SHS    35,000         0             35,000
ROIAK Radio One, Inc.        CL D            75040P405      1,544    70,000 SHS    70,000         0             70,000
RPM   RPM, Inc.              COM             749685103      4,519   446,329 SHS   446,329   366,329             80,000
RSCR  Res-Care, Inc.         COM             760943100      2,904   540,250 SHS   540,250    10,000            530,250
RX    IMS Health IncorporatedCOM             449934108     18,382 1,021,200 SHS 1,021,200   221,200            800,000
SALM  Salem Communications CoCL A            794093104      2,984   321,500 SHS   321,500     6,000            315,500
SAT   Asia Satellite TelecommSPONSORED ADR   04516X106      4,822   140,800 SHS   140,800         0            140,800
SDS   SunGard(R) Data SystemsCOM             867363103      9,006   290,500 SHS   290,500   125,500            165,000
SHPGY Shire Pharmaceuticals GSPONSORED ADR   82481R106      7,257   139,900 SHS   139,900     4,900            135,000
SHW   Sherwin-Williams CompanCOM             824348106      1,589    75,000 SHS    75,000    50,000             25,000
SON   Sonoco Products CompanyCOM             835495102        290    14,091 SHS    14,091    14,091                  0
SPOT  PanAmSat Corporation   COM             697933109     17,545   401,600 SHS   401,600    79,100            322,500
STOR  StorageNetworks, Inc.  COM             86211E103        677     7,500 SHS     7,500         0              7,500
SUNW  Sun Microsystems, Inc. COM             866810104     56,381   620,000 SHS   620,000     5,000            615,000
SVM   ServiceMaster Company (COM             81760N109     80,720 7,096,250 SHS 7,096,250   454,250          6,642,000
SYB   Sybron International CoCOM             87114F106     89,984 4,541,800 SHS 4,541,800   263,100          4,278,700
SYK   Stryker Corporation    COM             863667101     85,915 1,963,780 SHS 1,963,780    57,780          1,906,000
TAXI  Medallion Financial CorCOM             583928106      4,863   315,000 SHS   315,000         0            315,000
TESS  TESSCO Technologies IncCOM             872386107      8,092   289,000 SHS   289,000    52,000            237,000
THI   Thermo Instrument SysteCOM             883559106     12,058   643,100 SHS   643,100         0            643,100
TKLC  Tekelec                COM             879101103      8,674   180,000 SHS   180,000         0            180,000
TLAB  Tellabs, Inc.          COM             879664100     92,192 1,347,100 SHS 1,347,100   107,100          1,240,000
TLXS  Telaxis Communications COM             879202109      1,094    35,000 SHS    35,000         0             35,000
TMD   Thermedics Inc.        COM             883901100      4,474   450,200 SHS   450,200   187,000            263,200
TMO   Thermo Electron CorporaCOM             883556102     37,827 1,795,925 SHS 1,795,925   294,100          1,501,825
TR    Tootsie Roll IndustriesCOM             890516107        577    16,480 SHS    16,480     6,180             10,300
TRB   Tribune Company        COM             896047107        315     9,000 SHS     9,000         0              9,000
TWTC  Time Warner Telecom IncCL A            887319101      2,253    35,000 SHS    35,000         0             35,000
TWX   Time Warner Inc.       COM             887315109     47,500   625,000 SHS   625,000         0            625,000
TXN   Texas Instruments IncorCOM             882508104     41,254   600,600 SHS   600,600       600            600,000
USAI  USA Networks, Inc.     COM             902984103    112,928 5,222,100 SHS 5,222,100   312,100          4,910,000
VAL   Valspar Corporation (ThCOM             920355104     61,121 1,811,000 SHS 1,811,000   155,400          1,655,600
VIA/B Viacom Inc.            CL B            925524308     67,155   984,854 SHS   984,854     2,929            981,925
VMC   Vulcan Materials CompanCOM             929160109     86,318 2,022,100 SHS 2,022,100    56,100          1,966,000
VRTS  VERITAS Software CorporCOM             923436109     30,232   267,500 SHS   267,500         0            267,500
WAG   Walgreen Co.           COM             931422109     80,337 2,495,912 SHS 2,495,912    95,912          2,400,000
WCII  Winstar Communications,COM             975515107      9,045   267,000 SHS   267,000    72,000            195,000
WDR   Waddell & Reed FinanciaCL A            930059100      4,156   126,650 SHS   126,650   103,650             23,000
WEBT  WebTrends Corporation  COM             94844D104      3,095    80,000 SHS    80,000         0             80,000
WEC   Wisconsin Energy CorporCOM             976657106        495    25,000 SHS    25,000         0             25,000
WFC   Wells Fargo & Company  COM             949746101        581    15,000 SHS    15,000    15,000                  0
WPI   Watson Pharmaceuticals,COM             942683103     97,534 1,814,593 SHS 1,814,593   128,500          1,686,093
WWCA  Western Wireless CorporCL A            95988E204     12,023   220,600 SHS   220,600    45,600            175,000
XIRC  Xircom, Inc.           COM             983922105      4,513    95,000 SHS    95,000         0             95,000
ZBRA  Zebra Technologies CorpCL A            989207105      9,580   216,200 SHS   216,200    46,200            170,000

                                                       -----------
                                                        5,773,262
                                                       ===========
</TABLE>
<PAGE>

                          Form 13F SUMMARY PAGE


Report Summary:


Number of Other Included Managers:        0

Form 13F Information Table Entry Total: 210

Form 13F Information Table Value Total (thousands):   $5,773,262


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.

<PAGE>