SCHEDULE OF INVESTMENTS
Eagle Capital Growth Fund, Inc.
Portfolio of Investments (as of March 31, 2021) (unaudited)
Common Stocks (89.8% of Total Investments) | LEVEL ONE | |||
Industry | Shares | Cost | Market Value | % Total Inv. |
Advertising | ||||
Alphabet, Inc. A* | 500 | $ 583,844 | $ 1,031,260 | |
MediaAlpha, Inc. * | 20,000 | 699,378 | 708,600 | |
$ 1,739,860 | 4.2% | |||
Bank | ||||
Wells Fargo & Co. | 10,000 | 403,661 | $ 390,700 | |
$ 390,700 | 0.9% | |||
Brokerage | ||||
Charles Schwab | 20,000 | 674,572 | 1,303,600 | |
$ 1,303,600 | 3.1% | |||
Credit Card | ||||
Colgate-Palmolive Company | 21,000 | 626,458 | 1,655,430 | |
Kimberly-Clark Corp. | 3,500 | 352,236 | 486,675 | |
Procter & Gamble Company | 2,000 | 145,879 | 270,860 | |
$ 2,412,965 | 5.8% | |||
Consumer | ||||
Mastercard Inc | 1,000 | 219,636 | 356,050 | |
Visa Inc. | 1,500 | 225,957 | 317,595 | |
$ 673,645 | 1.6% | |||
Data Processing | ||||
Automatic Data Processing, Inc. | 6,000 | 169,333 | 1,130,820 | |
Paychex, Inc. | 13,000 | 316,616 | 1,274,260 | |
$ 2,405,080 | 5.7% | |||
Drug/Medical Device | ||||
Johnson & Johnson | 4,000 | 45,500 | 657,400 | |
Stryker Corp. | 4,500 | 19,055 | 1,096,110 | |
$ 1,753,510 | 4.2% | |||
Food | ||||
Kraft Heinz Company | 29,000 | 772,000 | 1,160,000 | |
PepsiCo, Inc. | 10,000 | 168,296 | 1,414,500 | |
$ 2,574,500 | 6.1% | |||
Industrial | ||||
Illinois Tool Works Inc. | 7,000 | 295,051 | 1,550,640 | |
Waters Corp.* | 6,000 | 302,341 | 1,705,020 | |
$ 3,255,660 | 7.8% | |||
Insurance | ||||
Berkshire Hathaway Inc. B* | 32,000 | 5,477,937 | 8,175,040 | |
Markel Corp.* | 1,300 | 831,360 | 1,481,506 | |
White Mountains Insurance Group, Ltd. | 2,100 | 1,785,903 | 2,341,290 | |
$ 11,997,836 | 28.6% | |||
Mutual Fund Managers | ||||
Diamond Hill Investment Group | 13,711 | 2,097,120 | 2,139,053 | |
Franklin Resources, Inc. | 69,500 | 1,908,256 | 2,057,200 | |
T. Rowe Price Group Inc. | 7,000 | 487,146 | 1,201,200 | |
$ 5,397,453 | 12.9% | |||
Restaurant | ||||
Starbucks Corp. | 18,000 | 940,052 | 1,966,860 | |
$ 1,966,860 | 4.7% | |||
Retail | ||||
AutoZone Inc.* | 600 | 319,026 | 842,580 | |
eBay Inc. | 3,000 | 68,886 | 183,720 | |
O'Reilly Automotive Inc.* | 1,500 | 305,534 | 760,875 | |
$ 1,787,175 | 4.3% | |||
Total common stock investments | $ 37,658,844 | 89.8% | ||
Money Market Funds (10.2% of total investments) | LEVEL ONE | |||
Morgan Stanley Inst. Liquidity Fund, Treasury, 0.01% | 4,262,897 | 10.2% | ||
Total investments | $ 41,921,741 | |||
All other assets less liabilities | 22,041 | |||
Total net assets | $ 41,943,782 |
* | Non-dividend paying security |
Footnote:
The following information is based upon federal income tax costs of portfolio investments, excluding money market investments, as of March 31, 2021:
Gross unrealized appreciation | $ | 17,626,404 | ||
Gross unrealized depreciation | 208,793 | |||
Net unrealized appreciation | $ | 17,417,611 | ||
Federal income tax basis | $ | 20,241,233 |