# EDGAR Filing Document

**Accession Number:** 0000913131
**File Stem:** 0001193125-25-307649
**Filing Date:** 2025-12
**Character Count:** 23934
**Document Hash:** db906bdb9adc2479615a36c9df60dc24
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-307649.hdr.sgml**: 20251204

**ACCESSION NUMBER**: 0001193125-25-307649

**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 EQUITY INCOME FUND, INC.
- **CENTRAL INDEX KEY:** 0000913131

**ORGANIZATION NAME:**
- **EIN:** 391768704
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031
- **LEGAL ENTITY IDENTIFIER:** 5493004E2U43A6WR1P12

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08062
- **FILM NUMBER:** 251548558

**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 EQUITY INCOME FUND INC
- **DATE OF NAME CHANGE:** 19931006

## Series and Classes Contracts Data

### NICHOLAS EQUITY INCOME FUND INC (Series ID: S000009137)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000024851 | CLASS I      | NSEIX           |

## 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 Equity Income Fund, Inc.

- **b. Investment Company Act file number:** 811-08062

- **c. CIK number of Registrant:** 0000913131

- **d. LEI of Registrant:** 5493004E2U43A6WR1P12

- **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 Equity Income Fund, Inc.

- **b. EDGAR series identifier (if any):** S000009137

- **c. LEI of Series:** 5493004E2U43A6WR1P12

**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:** $455250551.05

**Total Liabilities:** $352049.56

**Net Assets:** $454898501.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024851 | 2.59%                | 0.53%                | -2.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3602718.76              | $7385993.01                                |
| Month 2  | $-18834210.75            | $2524046.45                                |
| Month 3  | $-3288214.05             | $-6986379.37                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie Inc.                           | AbbVie Inc. COM                           | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     38619 | NS      | $8420486.76   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                        | ConocoPhillips COM                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     70843 | NS      | $6295108.98   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                         | Chevron Corp. COM                         | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79795 | NS      | $12585267.40  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                   | Cisco Systems, Inc. COM                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     89095 | NS      | $6513735.45   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohen & Steers Inc                    | Cohen & Steers Inc COM                    | CUSIP: 19247A100<br>LEI: 549300XXIA338A0X2K65 | Long             | EC               | CORP              | US        |     50522 | NS      | $3451663.04   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                | CMS Energy Corporation COM                | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |    161410 | NS      | $11871705.50  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                        | Blackstone Inc COM                        | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     41510 | NS      | $6087026.40   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                        | Blackrock Inc. COM                        | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      8444 | NS      | $9143247.64   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc.              | Illinois Tool Works Inc. COM              | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |     23595 | NS      | $5755292.40   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                  | JPMorgan Chase & Co. COM                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     39040 | NS      | $12146124.80  | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                     | Johnson & Johnson COM                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     49460 | NS      | $9341510.20   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Idex Corporation                      | Idex Corporation COM                      | CUSIP: 45167R104<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | EC               | CORP              | US        |     38845 | NS      | $6660363.70   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp. | International Business Machines Corp. COM | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     23571 | NS      | $7245961.11   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc.                       | Home Depot Inc. COM                       | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     20300 | NS      | $7705677.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Dupont De Nemours Inc                 | Dupont De Nemours Inc COM                 | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     79085 | NS      | $6457290.25   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| L3 Harris Technologies Inc            | L3 Harris Technologies Inc COM            | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     15447 | NS      | $4465727.70   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc.        | Lincoln Electric Holdings Inc. COM        | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |     31340 | NS      | $7347663.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co (The)                    | Coca-Cola Co (The) COM                    | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     99242 | NS      | $6837773.80   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                       | Microsoft Corp. COM                       | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     33972 | NS      | $17591041.32  | 3.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordson Corp                          | Nordson Corp COM                          | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |     15620 | NS      | $3623059.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                            | Nasdaq Inc COM                            | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     94685 | NS      | $8094620.65   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| The Procter & Gamble Co.              | The Procter & Gamble Co. COM              | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     46550 | NS      | $6999723.50   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                          | Oracle Corp. COM                          | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     36182 | NS      | $9501755.02   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens Corning                         | Owens Corning COM                         | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     40460 | NS      | $5150962.60   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                            | Nike, Inc. CL B                           | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |    105247 | NS      | $6797903.73   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc.     | PNC Financial Services Group Inc. COM     | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     52800 | NS      | $9638640.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation, Inc.             | Rockwell Automation, Inc. COM             | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     19584 | NS      | $7213962.24   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc.          | Raymond James Financial Inc. COM          | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |     49500 | NS      | $7854165.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co                     | Tractor Supply Co COM                     | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |     97372 | NS      | $5268798.92   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                | The TJX Companies Inc. COM                | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     82220 | NS      | $11522310.80  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation        | The Charles Schwab Corporation COM        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    114155 | NS      | $10789930.60  | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                       | AstraZeneca PLC SPONSORED ADR             | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    120155 | NS      | $9900772.00   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)         | Williams Companies Inc. (The) COM         | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     39830 | NS      | $2304962.10   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc.                 | WEC Energy Group Inc. COM                 | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     39650 | NS      | $4430094.50   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                         | U.S. Bancorp. COM NEW                     | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    197405 | NS      | $9214865.40   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation             | Union Pacific Corporation COM             | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     47292 | NS      | $10421738.04  | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.               | UnitedHealth Group Inc. COM               | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     16490 | NS      | $5632324.40   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.                | Texas Instruments Inc. COM                | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     34275 | NS      | $5534041.50   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                             | Sanofi SA SPONSORED ADR                   | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    145885 | NS      | $7378863.30   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.     | Enterprise Products Partners L.P. COM     | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |    119100 | NS      | $3667089.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                          | Unilever PLC SPON ADR NEW                 | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |    137325 | NS      | $8265591.75   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                      | Novo Nordisk A/S ADR                      | CUSIP: 670100205<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     90630 | NS      | $4482559.80   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.     | Booz Allen Hamilton Holding Corp. CL A    | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     57721 | NS      | $5030962.36   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                          | Broadcom Inc COM                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     38047 | NS      | $14063312.61  | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products & Chemicals, Inc.        | Air Products & Chemicals, Inc. COM        | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |     23829 | NS      | $5780677.11   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Smith(Ao)Corp                         | Smith(Ao)Corp COM                         | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |     97931 | NS      | $6462466.69   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc.                   | Analog Devices Inc. COM                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     52930 | NS      | $12392500.90  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                   | Abbott Laboratories COM                   | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |     88763 | NS      | $10972882.06  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                      | Merck & Co., Inc COM                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     49007 | NS      | $4213621.86   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.          | Mondelez International, Inc. CL A         | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |     99729 | NS      | $5730428.34   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated     | Microchip Technology Incorporated COM     | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |    155852 | NS      | $9728281.84   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                    | NextEra Energy Inc COM                    | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    103610 | NS      | $8433854.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                         | Medtronic PLC SHS                         | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     65660 | NS      | $5955362.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                 | Eaton Corporation PLC SHS                 | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      6825 | NS      | $2604147.00   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd.                            | Chubb Ltd. COM                            | CUSIP: H1467J104<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |     25350 | NS      | $7020429.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills          | B 0 11/13/25                              | CUSIP: 912797QQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5993515.56   | 1.32%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills          | B 0 12/26/25                              | CUSIP: 912797NU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5965526.82   | 1.31%             | 2025-12-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Equinix, Inc.                         | Equinix, Inc. COM                         | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     10750 | NS      | $9094607.50   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation            | American Tower Corporation COM            | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     33905 | NS      | $6068316.90   | 1.33%             |  |  |  | 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        |   6000000 | NS      | $6000000.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA                          | US BANK MMDA - USBGFS 9                   | CUSIP: 8AMMF0JA0<br>LEI: N/A                  | Long             | STIV             |  | US        |   3536749 | NS      | $3536749.42   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Nicholas Equity Income Fund, Inc.

**Signature:** Jennifer Kloehn

**Name of Signer:** Jennifer Kloehn

**Title:** Treasurer