General Investing >> Money Manager Interviews >> March 5, 2023
Balancing Dividend Growth and Earnings Growth to Produce Solid Returns
Michael L. Shelton, CFA, joined Nicholas Company, Inc. in 2006. He serves as lead Portfolio Manager of Nicholas Equity Income Fund, co-Portfolio Manager of Nicholas Fund, and is a senior research analyst. Mr. Shelton has a depth of knowledge following years of covering the health care, technology and industrial sectors. Prior to joining Nicholas Company, Mr. Shelton worked for the Department of Defense Financing & Accounting Service as a financial analyst. He spent three years with Robert W. Baird as a research analyst, and at McDonald Investments for one year focusing on health care companies. Before starting his investment career, he worked with Ernst & Young as an auditor and tax consultant earning his CPA designation in 1995. Mr. Shelton graduated magna cum laude from Miami University in Oxford, Ohio, and obtained his MBA from Ohio State University. He has earned the right to use the CFA designation and is a member of the CFA Society Milwaukee.
Lawrence J. Pavelec, CFA, serves in a leadership position for Nicholas Company, Inc. as the Chief Operating Officer and head of product distribution. He also serves as an analyst and client portfolio manager for the separately managed account equity portfolios. Mr. Pavelec joined Nicholas Company in 2003 to serve as the Portfolio Manager for the Nicholas High Income Fund and lead the product distribution effort. His 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. Mr. Pavelec 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-Thiensville Education Foundation, North Shore Country Club, and the Peninsula School of Art. He has earned the right to use the CFA designation and is a member of the CFA Society Milwaukee. Profile
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TWST: Let’s start with a short introduction to Nicholas Company and the Nicholas Funds — an overview of your business and your broader investment