Value Line Select Growth Fund, Inc.
Schedule of Investments (unaudited)
| Shares | Value | |||||||
| COMMON STOCKS 97.0% | ||||||||
| CONSUMER DISCRETIONARY 1.7% | ||||||||
| RETAIL 1.7% | ||||||||
| 123,200 | TJX Cos., Inc. | $ | 7,463,456 | |||||
| CONSUMER STAPLES 4.9% | ||||||||
| RETAIL 4.9% | ||||||||
| 37,400 | Costco Wholesale Corp. | 21,536,790 | ||||||
| FINANCIALS 7.3% | ||||||||
| COMMERCIAL SERVICES 5.9% | ||||||||
| 62,773 | S&P Global, Inc. | 25,748,229 | ||||||
| DIVERSIFIED FINANCIAL SERVICES 0.6% | ||||||||
| 22,000 | Intercontinental Exchange, Inc. | 2,906,640 | ||||||
| INSURANCE 0.8% | ||||||||
| 11,200 | Aon PLC Class A | 3,647,056 | ||||||
| 32,301,925 | ||||||||
| HEALTHCARE 18.6% | ||||||||
| ELECTRONICS 0.5% | ||||||||
| 1,700 | Mettler-Toledo International, Inc. (1) | 2,334,423 | ||||||
| HEALTHCARE PRODUCTS 18.1% | ||||||||
| 107,900 | Danaher Corp. | 31,650,307 | ||||||
| 24,400 | IDEXX Laboratories, Inc. (1) | 13,348,264 | ||||||
| 13,000 | Stryker Corp. | 3,475,550 | ||||||
| 52,000 | Thermo Fisher Scientific, Inc. | 30,713,800 | ||||||
| 79,187,921 | ||||||||
| 81,522,344 | ||||||||
| INDUSTRIALS 22.8% | ||||||||
| AEROSPACE & DEFENSE 3.3% | ||||||||
| 22,400 | TransDigm Group, Inc. (1) | 14,594,496 | ||||||
| COMMERCIAL SERVICES 5.6% | ||||||||
| 57,177 | Cintas Corp. | 24,322,524 | ||||||
| ENVIRONMENTAL CONTROL 4.1% | ||||||||
| 81,800 | Republic Services, Inc. | 10,838,500 | ||||||
| 51,700 | Waste Connections, Inc. | 7,222,490 | ||||||
| 18,060,990 | ||||||||
| SOFTWARE 5.3% | ||||||||
| 49,000 | Roper Technologies, Inc. | 23,139,270 | ||||||
| TRANSPORTATION 4.5% | ||||||||
| 72,800 | Union Pacific Corp. | 19,889,688 | ||||||
| 100,006,968 | ||||||||
| INFORMATION TECHNOLOGY 40.1% | ||||||||
| AEROSPACE & DEFENSE 4.1% | ||||||||
| 37,800 | Teledyne Technologies, Inc. (1) | 17,865,414 | ||||||
| COMPUTERS 6.9% | ||||||||
| 89,900 | Accenture PLC Class A | 30,316,977 | ||||||
| DIVERSIFIED FINANCIAL SERVICES 5.8% | ||||||||
| 70,900 | MasterCard, Inc. Class A | 25,338,242 | ||||||
| SOFTWARE 23.3% | ||||||||
| 18,000 | Adobe, Inc. (1) | 8,201,160 | ||||||
| 12,400 | ANSYS, Inc. (1) | 3,938,860 | ||||||
| 72,000 | Cadence Design Systems, Inc. (1) | 11,841,120 | ||||||
| 54,600 | Fidelity National Information Services, Inc. | 5,482,932 | ||||||
| 140,800 | Fiserv, Inc. (1) | 14,277,120 | ||||||
| 34,400 | Intuit, Inc. | 16,540,896 | ||||||
| 90,400 | Salesforce.com, Inc. (1) | 19,193,728 | ||||||
| 28,639 | ServiceNow, Inc. (1) | 15,948,772 | ||||||
| 20,800 | Synopsys, Inc. (1) | 6,932,016 | ||||||
| 102,356,604 | ||||||||
| 175,877,237 | ||||||||
| MATERIALS 1.6% | ||||||||
| CHEMICALS 1.6% | ||||||||
| 38,800 | Ecolab, Inc. | 6,850,528 | ||||||
| TOTAL COMMON STOCKS (Cost $189,040,104) | 425,559,248 | |||||||
| SHORT-TERM INVESTMENT 2.8% | ||||||||
| MONEY MARKET FUND 2.8% | ||||||||
| 12,357,834 | State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.25% (2) | 12,357,834 | ||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $12,357,834) | 12,357,834 | |||||||
| TOTAL INVESTMENTS IN SECURITIES 99.8% (Cost $201,397,938) | $ | 437,917,082 | ||||||
| CASH AND OTHER ASSETS IN EXCESS OF LIABILITIES 0.2% | 1,029,618 | |||||||
| NET ASSETS (3) 100% | $ | 438,946,700 | ||||||
| (1) | Non-income producing. | |
| (2) | Rate reflects 7 day yield as of March 31, 2022. | |
| (3) | For federal income tax purposes, the aggregate cost was $201,397,938, aggregate gross unrealized appreciation was $238,306,789, aggregate gross unrealized depreciation was $1,787,645 and the net unrealized appreciation was $236,519,144. |
1
The Fund follows fair valuation accounting standards (FASB ASC 820-10) which establishes a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels listed below:
| • | Level 1 – | Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date; |
| • | Level 2 – | Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active; |
| • | Level 3 – | Inputs that are unobservable. |
Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following table summarizes the inputs used to value the Fund's investments in securities as of March 31, 2022:
| Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Assets | ||||||||||||||||
| Common Stocks* | $ | 425,559,248 | $ | — | $ | — | $ | 425,559,248 | ||||||||
| Short-Term Investment | 12,357,834 | — | — | 12,357,834 | ||||||||||||
| Total Investments in Securities | $ | 437,917,082 | $ | — | $ | — | $ | 437,917,082 | ||||||||
* See Schedule of Investments for further breakdown by category.
An investments asset or liability level within the fair value hierarchy is based on the lowest level input, individually or in aggregate, that is significant to fair value measurement. The objective of fair value measurement remains the same even when there is a significant decrease in the volume and level of activity for an asset or liability and regardless of the valuation techniques used.
During the period ended March 31, 2022, there were no Level 3 investments.