NPORT-EX 2 GB45GB123122.htm
1
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
December
31,
2022
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
 —
63.5%
Airlines
 —
1.3%
$
2,000,000‌
Southwest
Airlines
Co.,
1.250%,
05/01/25
...............
$
2,409,500‌
Automotive
 —
1.6%
3,000,000‌
Ford
Motor
Co.,
Zero
Coupon,
03/15/26
...........
2,845,500‌
Business
Services
 —
1.6%
2,000,000‌
BigBear.ai
Holdings
Inc.,
6.000%,
12/15/26(a)
.............
1,350,000‌
2,000,000‌
Perficient
Inc.,
0.125%,
11/15/26
...............
1,555,000‌
2,905,000‌
Cable
and
Satellite
 —
1.8%
DISH
Network
Corp.
2,100,000‌
Zero
Coupon,
12/15/25
...........
1,350,300‌
2,000,000‌
3.375%,
08/15/26
...............
1,258,000‌
1,415,000‌
fuboTV
Inc.,
3.250%,
02/15/26
...............
665,050‌
3,273,350‌
Communications
Equipment
 —
4.4%
2,000,000‌
InterDigital
Inc.,
3.500%,
06/01/27(a)
.............
1,900,000‌
1,700,000‌
Kaleyra
Inc.,
6.125%,
06/01/26(a)
.............
1,330,401‌
Lumentum
Holdings
Inc.
2,000,000‌
0.500%,
12/15/26
...............
1,725,000‌
1,117,000‌
0.500%,
06/15/28(a)
.............
851,042‌
2,500,000‌
Radius
Global
Infrastructure
Inc.,
2.500%,
09/15/26(a)
.............
2,204,615‌
8,011,058‌
Computer
Hardware
 —
1.4%
2,000,000‌
3D
Systems
Corp.,
Zero
Coupon,
11/15/26
...........
1,374,000‌
1,250,000‌
Desktop
Metal
Inc.,
6.000%,
05/15/27(a)
.............
1,194,375‌
2,568,375‌
Computer
Software
and
Services
 —
12.2%
1,700,000‌
Akamai
Technologies
Inc.,
0.375%,
09/01/27
...............
1,645,600‌
3,000,000‌
Bandwidth
Inc.,
0.250%,
03/01/26
...............
2,276,400‌
1,625,000‌
Cardlytics
Inc.,
1.000%,
09/15/25
...............
702,812‌
1,915,000‌
Edgio
Inc.,
3.500%,
08/01/25
...............
1,645,962‌
2,590,000‌
i3
Verticals
LLC,
1.000%,
02/15/25
...............
2,350,425‌
Principal
Amount
Market
Value
$
1,500,000‌
Match
Group
Financeco
3
Inc.,
2.000%,
01/15/30(a)
.............
$
1,300,500‌
1,000,000‌
MercadoLibre
Inc.,
2.000%,
08/15/28
...............
2,031,500‌
1,750,000‌
PAR
Technology
Corp.,
2.875%,
04/15/26
...............
1,649,375‌
2,000,000‌
Progress
Software
Corp.,
1.000%,
04/15/26
...............
2,054,000‌
1,430,000‌
PROS
Holdings
Inc.,
2.250%,
09/15/27
...............
1,260,545‌
2,000,000‌
Shift4
Payments
Inc.,
Zero
Coupon,
12/15/25
...........
1,991,250‌
2,170,000‌
Veritone
Inc.,
1.750%,
11/15/26
...............
1,318,275‌
1,650,000‌
Workiva
Inc.,
1.125%,
08/15/26
...............
2,042,700‌
22,269,344‌
Consumer
Products
 —
0.4%
650,000‌
Post
Holdings
Inc.,
2.500%,
08/15/27(a)
.............
685,880‌
Consumer
Services
 —
3.9%
1,350,000‌
Marriott
Vacations
Worldwide
Corp.,
3.250%,
12/15/27(a)
.............
1,336,500‌
NCL
Corp.
Ltd.
1,470,000‌
5.375%,
08/01/25
...............
1,489,845‌
682,000‌
1.125%,
02/15/27
...............
466,352‌
1,200,000‌
Royal
Caribbean
Cruises
Ltd.,
6.000%,
08/15/25(a)
.............
1,513,200‌
2,505,000‌
Stride
Inc.,
1.125%,
09/01/27
...............
2,243,478‌
7,049,375‌
Diversified
Industrial
 —
1.2%
450,000‌
Chart
Industries
Inc.,
1.000%,
11/15/24(a)
.............
895,950‌
1,508,000‌
Xometry
Inc.,
1.000%,
02/01/27(a)
.............
1,281,187‌
2,177,137‌
Energy
and
Utilities
 —
5.9%
2,026,000‌
Array
Technologies
Inc.,
1.000%,
12/01/28
...............
2,069,559‌
1,155,000‌
Bloom
Energy
Corp.,
2.500%,
08/15/25
...............
1,559,943‌
1,900,000‌
NextEra
Energy
Partners
LP,
2.500%,
06/15/26
...............
1,782,200‌
2,000,000‌
Northern
Oil
and
Gas
Inc.,
3.625%,
04/15/29(a)
.............
2,160,000‌
1,375,000‌
Ormat
Technologies
Inc.,
2.500%,
07/15/27(a)
.............
1,606,000‌
2
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
(Continued)
December
31,
2022
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
(Continued)
Energy
and
Utilities
(Continued)
$
1,990,000‌
Sunnova
Energy
International
Inc.,
2.625%,
02/15/28(a)
.............
$
1,616,875‌
10,794,577‌
Entertainment
 —
1.0%
1,815,000‌
Liberty
Media
Corp.-Liberty
Formula
One,
2.250%,
08/15/27(a)
.............
1,743,308‌
Financial
Services
 —
4.4%
1,025,000‌
Digitalbridge
Operating
Co.
LLC,
5.750%,
07/15/25(a)(b)
...........
1,413,980‌
900,000‌
Envestnet
Inc.,
2.625%,
12/01/27(a)
.............
970,200‌
1,250,000‌
HCI
Group
Inc.,
4.750%,
06/01/42(a)
.............
960,938‌
1,000,000‌
IIP
Operating
Partnership
LP,
3.750%,
02/21/24(a)
.............
1,609,788‌
750,000‌
LendingTree
Inc.,
0.500%,
07/15/25
...............
549,450‌
2,100,000‌
SoFi
Technologies
Inc.,
Zero
Coupon,
10/15/26(a)
.........
1,447,950‌
2,100,000‌
Upstart
Holdings
Inc.,
0.250%,
08/15/26
...............
1,113,000‌
8,065,306‌
Food
and
Beverage
 —
0.8%
1,500,000‌
The
Chefs'
Warehouse
Inc.,
2.375%,
12/15/28(a)
.............
1,506,600‌
Health
Care
 —
8.9%
2,235,000‌
Coherus
Biosciences
Inc.,
1.500%,
04/15/26
...............
1,469,512‌
1,000,000‌
CONMED
Corp.,
2.625%,
02/01/24
...............
1,138,000‌
Cutera
Inc.
1,000,000‌
2.250%,
03/15/26
...............
1,483,500‌
1,750,000‌
2.250%,
06/01/28(a)
.............
1,869,000‌
1,145,000‌
4.000%,
06/01/29(a)
.............
1,171,450‌
1,300,000‌
Halozyme
Therapeutics
Inc.,
1.000%,
08/15/28(a)
.............
1,538,062‌
1,500,000‌
Insulet
Corp.,
0.375%,
09/01/26
...............
2,125,500‌
1,015,000‌
Invacare
Corp.,
4.250%,
03/15/26
...............
483,170‌
1,550,000‌
Lantheus
Holdings
Inc.,
2.625%,
12/15/27(a)
.............
1,568,445‌
2,390,000‌
PetIQ
Inc.,
4.000%,
06/01/26
...............
1,995,650‌
Principal
Amount
Market
Value
$
1,140,000‌
Sarepta
Therapeutics
Inc.,
1.250%,
09/15/27(a)
.............
$
1,319,550‌
16,161,839‌
Materials
 —
0.1%
345,000‌
Danimer
Scientific
Inc.,
3.250%,
12/15/26(a)
.............
134,032‌
Real
Estate
Investment
Trusts
 —
1.7%
375,000‌
Braemar
Hotels
&
Resorts
Inc.,
4.500%,
06/01/26
...............
355,643‌
1,000,000‌
Pebblebrook
Hotel
Trust,
1.750%,
12/15/26
...............
827,500‌
1,000,000‌
Redwood
Trust
Inc.,
7.750%,
06/15/27(a)
.............
851,300‌
1,330,000‌
Summit
Hotel
Properties
Inc.,
1.500%,
02/15/26
...............
1,142,470‌
3,176,913‌
Security
Software
 —
4.3%
3,000,000‌
2U
Inc.,
2.250%,
05/01/25
...............
1,954,500‌
515,000‌
Nice
Ltd.,
Zero
Coupon,
09/15/25
...........
487,962‌
532,000‌
Nice
Systems
Inc.,
1.250%,
01/15/24
...............
1,220,275‌
2,990,000‌
Verint
Systems
Inc.,
0.250%,
04/15/26
...............
2,616,250‌
1,515,000‌
Zscaler
Inc.,
0.125%,
07/01/25
...............
1,598,325‌
7,877,312‌
Semiconductors
 —
4.6%
2,000,000‌
Impinj
Inc.,
1.125%,
05/15/27
...............
2,410,000‌
1,650,000‌
indie
Semiconductor
Inc.,
4.500%,
11/15/27(a)
.............
1,631,850‌
1,500,000‌
Semtech
Corp.,
1.625%,
11/01/27(a)
.............
1,541,250‌
Wolfspeed
Inc.
1,841,000‌
0.250%,
02/15/28(a)
.............
1,596,147‌
1,375,000‌
1.875%,
12/01/29(a)
.............
1,245,063‌
8,424,310‌
Telecommunications
 —
2.0%
2,060,000‌
8x8
Inc.,
0.500%,
02/01/24
...............
1,884,881‌
Infinera
Corp.
1,250,000‌
2.500%,
03/01/27
...............
1,397,107‌
325,000‌
3.750%,
08/01/28(a)
.............
404,430‌
3,686,418‌
TOTAL
CONVERTIBLE
CORPORATE
BONDS
....................
115,765,134‌
3
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
(Continued)
December
31,
2022
(Unaudited)
(a)
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(b)
At
December
31,
2022,
the
Fund
held
an
investment
in
a
restricted
and
illiquid
security
amounting
to
$1,413,980
or
0.78%
of
total
investments,
which
was
valued
under
methods
approved
by
the
Board
of
Trustees
as
follows:
(c)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
Shares
Market
Value
CONVERTIBLE
PREFERRED
STOCKS
 —
0.0%
Business
Services
 —
0.0%
809,253‌
Amerivon
Holdings
LLC,
4.000%(c)
....................
$
0‌
272,728‌
Amerivon
Holdings
LLC,
common
equity
units
(c)
..........................
3‌
3‌
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
...................
3‌
MANDATORY
CONVERTIBLE
SECURITIES(d)
 —
5.0%
Automotive:
Parts
and
Accessories
 —
1.0%
17,100‌
Aptiv
plc,
Ser.
A,
5.500%,
06/15/23
...............
1,835,172‌
Diversified
Industrial
 —
0.9%
30,000‌
Chart
Industries
Inc.,
Ser.
B,
6.750%,
12/15/25
...............
1,519,200‌
Energy
and
Utilities
 —
2.0%
NextEra
Energy
Inc.
27,465‌
6.219%,
09/01/23
...............
1,386,708‌
30,000‌
6.926%,
09/01/25
...............
1,505,700‌
16,290‌
Spire
Inc.,
Ser.
A,
7.500%,
03/01/24
...............
813,359‌
3,705,767‌
Financial
Services
 —
1.1%
1,730‌
2020
Cash
Mandatory
Exchangeable
Trust,
5.250%,
06/01/23
...............
1,983,480‌
TOTAL
MANDATORY
CONVERTIBLE
SECURITIES
................
9,043,619‌
COMMON
STOCKS
 —
18.6%
Agriculture
 —
1.2%
21,561‌
Bunge
Ltd.
......................
2,151,141‌
Business
Services
 —
0.5%
13,000‌
PayPal
Holdings
Inc.†
..............
925,860‌
Communications
Equipment
 —
0.0%
40,000‌
Kaleyra
Inc.†
....................
30,204‌
Computer
Software
and
Services
 —
1.9%
14,300‌
Microsoft
Corp.
..................
3,429,426‌
Consumer
Products
 —
0.7%
24,000‌
Unilever
plc,
ADR
.................
1,208,400‌
Entertainment
 —
0.6%
12,500‌
The
Walt
Disney
Co.†
..............
1,086,000‌
Shares
Market
Value
Health
Care
 —
4.1%
8,000‌
Eli
Lilly
&
Co.
....................
$
2,926,720‌
22,651‌
Merck
&
Co.
Inc.
..................
2,513,128‌
40,000‌
Pfizer
Inc.
......................
2,049,600‌
7,489,448‌
Real
Estate
Investment
Trusts
 —
5.2%
10,000‌
American
Tower
Corp.
..............
2,118,600‌
16,100‌
Crown
Castle
Inc.
.................
2,183,804‌
5,000‌
Equinix
Inc.
.....................
3,275,150‌
7,000‌
SBA
Communications
Corp.
..........
1,962,170‌
9,539,724‌
Semiconductors
 —
1.5%
5,058‌
Broadcom
Inc.
...................
2,828,080‌
Telecommunications
 —
2.9%
60,000‌
AT&T
Inc.
.......................
1,104,600‌
16,119‌
T-Mobile
US
Inc.†
.................
2,256,660‌
50,000‌
Verizon
Communications
Inc.
.........
1,970,000‌
5,331,260‌
TOTAL
COMMON
STOCKS
.........
34,019,543‌
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
 —
12.9%
$
23,725,000‌
U.S.
Treasury
Bills,
3.903%
to
4.398%††,
01/26/23
to
03/30/23
......................
23,582,472‌
TOTAL
INVESTMENTS
100.0%
....
(Cost
$173,080,087)
.............
$
182,410,771‌
Acquisition
Principal
Amount
Issuer
Acquisition
Dates
Acquisition
Cost
12/31/22
Carrying
Value
Per
Bond
$1,025,000
Digitalbridge
Operating
Co.
LLC,
5.750%,
07/15/25
7/17/20
-
11/11/20
$1,156,987
$1,379.4927
4
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
(Continued)
December
31,
2022
(Unaudited)
(d)
Mandatory
convertible
securities
are
required
to
be
converted
on
the
dates
listed;
they
generally
may
be
converted
prior
to
these
dates
at
the
option
of
the
holder.
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt