# EDGAR Filing Document

**Accession Number:** 0000723455
**File Stem:** 0001193125-25-307648
**Filing Date:** 2025-12
**Character Count:** 26540
**Document Hash:** 3d98927574bf8f66747ae27b02db672a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-307648.hdr.sgml**: 20251204

**ACCESSION NUMBER**: 0001193125-25-307648

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251204

**DATE AS OF CHANGE**: 20251204

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NICHOLAS II, INC
- **CENTRAL INDEX KEY:** 0000723455

**ORGANIZATION NAME:**
- **EIN:** 391444762
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031
- **LEGAL ENTITY IDENTIFIER:** 549300UWUMRIK0WIZF25

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03851
- **FILM NUMBER:** 251548557

**BUSINESS ADDRESS:**
- **STREET 1:** 411 E. WISCONSIN AVE.
- **STREET 2:** SUITE 2100
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-272-4650

**MAIL ADDRESS:**
- **STREET 1:** 411 E. WISCONSIN AVE.
- **STREET 2:** SUITE 2100
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NICHOLAS II INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### NICHOLAS II INC (Series ID: S000009134)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000024843 | CLASS I      | NCTWX           |
| C000024844 | CLASS N      | NNTWX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Nicholas II, Inc.

- **b. Investment Company Act file number:** 811-03851

- **c. CIK number of Registrant:** 0000723455

- **d. LEI of Registrant:** 549300UWUMRIK0WIZF25

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 411 E. Wisconsin Ave.

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 4142724650

**Item A.2. Information about the Series.**

- **a. Name of Series:** Nicholas II, Inc.

- **b. EDGAR series identifier (if any):** S000009134

- **c. LEI of Series:** 549300UWUMRIK0WIZF25

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1000565424.28

**Total Liabilities:** $623587.05

**Net Assets:** $999941837.23

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024843 | -0.62%               | -1.21%               | -2.15%               |
| Class ID C000024844 | -0.64%               | -1.23%               | -2.18%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $21098889.30             | $-27908151.10                              |
| Month 2  | $13721642.44             | $-26692362.75                              |
| Month 3  | $2048550.00              | $-24985027.41                              |

### Schedule of Portfolio Investments

| Name                                | Title                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ametek, Inc.                        | Ametek, Inc. COM                        | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |    113045 | NS      | $22847524.95  | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptargroup Inc.                     | Aptargroup Inc. COM                     | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     78580 | NS      | $9116065.80   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith(Ao)Corp                       | Smith(Ao)Corp COM                       | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |    193010 | NS      | $12736729.90  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc. | Broadridge Financial Solutions Inc. COM | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |     79825 | NS      | $17593430.00  | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ Wholesale Club Holdings Inc      | BJ Wholesale Club Holdings Inc COM      | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |    201469 | NS      | $17781653.94  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc.              | Burlington Stores Inc. COM              | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     46070 | NS      | $12604291.30  | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                     | CBRE Group Inc. CL A                    | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |    150645 | NS      | $22962817.35  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                            | CDW Corp COM                            | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     98195 | NS      | $15649337.15  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.          | The Cooper Companies, Inc. COM          | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    168900 | NS      | $11807799.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc          | Chipotle Mexican Grill Inc COM          | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    347585 | NS      | $11014968.65  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                          | Corpay Inc COM SHS                      | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |     70110 | NS      | $18253138.50  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc            | Crowdstrike Holdings Inc CL A           | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |     12426 | NS      | $6747442.26   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                    | Costar Group Inc COM                    | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    211706 | NS      | $14567489.86  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominos Pizza Inc.                  | Dominos Pizza Inc. COM                  | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |     32870 | NS      | $13097380.20  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                           | Okta Inc. CL A                          | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |    170346 | NS      | $15591769.38  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Paylocity Holding Corporation       | Paylocity Holding Corporation COM       | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |     98875 | NS      | $13968071.25  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.            | O'Reilly Automotive Inc. COM            | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    242770 | NS      | $22927198.80  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                             | PTC Inc COM                             | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |    118985 | NS      | $23623281.90  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.        | Raymond James Financial Inc. COM        | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |    103884 | NS      | $16483274.28  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc.                         | ResMed Inc. COM                         | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     63580 | NS      | $15696630.40  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.             | Republic Services, Inc. COM             | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |     50956 | NS      | $10611077.44  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                         | Revvity Inc COM                         | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |    141650 | NS      | $13257023.50  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Corporation International   | Service Corporation International COM   | CUSIP: 817565104<br>LEI: 549300RKVM2ME20JHZ15 | Long             | EC               | CORP              | US        |    218900 | NS      | $18280339.00  | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyworks Solutions, Inc.            | Skyworks Solutions, Inc. COM            | CUSIP: 83088M102<br>LEI: 549300WZ3ORQ2BVKBD96 | Long             | EC               | CORP              | US        |    105635 | NS      | $8209952.20   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                     | Bio-Techne Corp COM                     | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    275234 | NS      | $17221391.38  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc           | Teledyne Technologies Inc COM           | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     43904 | NS      | $23129505.28  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk Inc                  | The Trade Desk Inc COM CL A             | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |    175865 | NS      | $8842492.20   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                          | TransUnion COM                          | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |    252068 | NS      | $20462880.24  | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                     | Ulta Beauty Inc COM                     | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |     36740 | NS      | $19100391.20  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                   | Veeva Systems Inc CL A COM              | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     69445 | NS      | $20222384.00  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Company            | Vulcan Materials Company COM            | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |     83801 | NS      | $24260389.50  | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabtec Corp                         | Wabtec Corp COM                         | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     86358 | NS      | $17655029.52  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics, Inc.              | Verisk Analytics, Inc. COM              | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     78305 | NS      | $17130001.80  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Elastic NV                          | Elastic NV ORD SHS                      | CUSIP: N14506104<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | NL        |    199429 | NS      | $17793055.38  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                       | RB Global Inc COM                       | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | CA        |    146233 | NS      | $14509238.26  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Monday.Com Limited                  | Monday.Com Limited SHS                  | CUSIP: M7S64H106<br>LEI: 984500MDAFVD86E3B328 | Long             | EC               | CORP              | IL        |     59684 | NS      | $12249544.16  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sharkninja Inc.                     | Sharkninja Inc. COM SHS                 | CUSIP: G8068L108<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    114696 | NS      | $9806508.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                          | Steris PLC SHS USD                      | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     77075 | NS      | $18166577.50  | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Stevanato Group S.p.A.              | Stevanato Group S.p.A. ORD SHS          | CUSIP: T9224W109<br>LEI: 81560033F7E1CD477507 | Long             | EC               | CORP              | IT        |    515270 | NS      | $12995109.40  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd.                | Viking Holdings Ltd. ORD SHS            | CUSIP: G93A5A101<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    159165 | NS      | $9685190.25   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Connections Inc.              | Waste Connections Inc. COM              | CUSIP: 94106B101<br>LEI: 549300ZX1Z8QGWASPX54 | Long             | EC               | CORP              | CA        |     70757 | NS      | $11864533.76  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.           | First American Funds Inc. GOVT OBLIGS X | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  13500000 | NS      | $13500000.00  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA                        | US BANK MMDA - USBGFS 9                 | CUSIP: 8AMMF0JA0<br>LEI: N/A                  | Long             | STIV             |  | US        |   6107571 | NS      | $6107571.05   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                       | Dynatrace Inc COM NEW                   | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |    438343 | NS      | $22167005.51  | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                        | Fastenal Co. COM                        | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    122577 | NS      | $5044043.55   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation              | Fair Isaac Corporation COM              | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      7739 | NS      | $12843102.67  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corporation                 | Fortive Corporation COM                 | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |    238700 | NS      | $12016158.00  | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Shift4 Payments Inc                 | Shift4 Payments Inc CL A                | CUSIP: 82452J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     85010 | NS      | $5874191.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc       | Hilton Worldwide Holdings Inc COM       | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |     39485 | NS      | $10146065.60  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Med Inc                      | Globus Med Inc CL A                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |    227260 | NS      | $13724231.40  | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hologic Inc                         | Hologic Inc COM                         | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |    166295 | NS      | $12290863.45  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Idex Corporation                    | Idex Corporation COM                    | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     92468 | NS      | $15854563.28  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc.                 | IQVIA Holdings Inc. COM                 | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     74838 | NS      | $16199433.48  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc.                        | Gartner Inc. COM                        | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |     36194 | NS      | $8988417.96   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Henry Jack & Associates Inc.        | Henry Jack & Associates Inc. COM        | CUSIP: 426281101<br>LEI: 529900X1QS8C54W0JB21 | Long             | EC               | CORP              | US        |     54544 | NS      | $8123783.36   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc.           | Lennox International Inc. COM           | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      6484 | NS      | $3274420.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| L3 Harris Technologies Inc          | L3 Harris Technologies Inc COM          | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     49458 | NS      | $14298307.80  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corporation   | Lattice Semiconductor Corporation COM   | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |    265609 | NS      | $19378832.64  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc            | Lamb Weston Holdings Inc COM            | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     80750 | NS      | $4984697.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated   | Microchip Technology Incorporated COM   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    244380 | NS      | $15254199.60  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Morningstar Inc                     | Morningstar Inc COM                     | CUSIP: 617700109<br>LEI: 529900YGNQPOVAXQ7F29 | Long             | EC               | CORP              | US        |     29897 | NS      | $6347133.10   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc.                        | MongoDB Inc. CL A                       | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     41439 | NS      | $14910580.98  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordson Corp                        | Nordson Corp COM                        | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |     77500 | NS      | $17976125.00  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Mettler-Toledo International Inc    | Mettler-Toledo International Inc COM    | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |     14964 | NS      | $21193363.56  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corporation          | Northern Trust Corporation COM          | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |     89385 | NS      | $11501167.95  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.      | Old Dominion Freight Line Inc. COM      | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     94415 | NS      | $13257754.30  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.             | Webster Financial Corp. COM             | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |    149690 | NS      | $8538317.60   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                        | Wingstop Inc COM                        | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     50366 | NS      | $10910786.58  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc.                | Williams-Sonoma Inc. COM                | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     49433 | NS      | $9606809.22   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                         | Zscaler Inc COM                         | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |     76735 | NS      | $25410027.90  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-04

**Name of Applicant:** Nicholas II, Inc.

**Signature:** Jennifer Kloehn

**Name of Signer:** Jennifer Kloehn

**Title:** Treasurer