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<SEC-DOCUMENT>0000793040-07-000011.txt : 20070831
<SEC-HEADER>0000793040-07-000011.hdr.sgml : 20070831
<ACCEPTANCE-DATETIME>20070831073020
ACCESSION NUMBER:		0000793040-07-000011
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070630
FILED AS OF DATE:		20070831
DATE AS OF CHANGE:		20070831
EFFECTIVENESS DATE:		20070831

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ELLSWORTH FUND LTD
		CENTRAL INDEX KEY:			0000793040
		IRS NUMBER:				133345139
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04656
		FILM NUMBER:		071092961

	BUSINESS ADDRESS:	
		STREET 1:		65 MADISON AVENUE
		STREET 2:		SUITE 550
		CITY:			MORRISTOWN
		STATE:			NJ
		ZIP:			07960
		BUSINESS PHONE:		(973) 631-1177

	MAIL ADDRESS:	
		STREET 1:		65 MADISON AVE
		STREET 2:		SUITE 550
		CITY:			MORRISTOWN
		STATE:			NJ
		ZIP:			07960

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ELLSWORTH CONVERTIBLE GROWTH & INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>e0607nq.txt
<DESCRIPTION>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
<TEXT>

<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM N-Q

               QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
                              MANAGEMENT INVESTMENT COMPANY

                  Investment Company Act file number: 811-04656
                  ---------------------------------------------

                                Ellsworth Fund Ltd.
- -------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)

               65 Madison Avenue, Morristown, New Jersey 07960-7308
- -------------------------------------------------------------------------------
               (Address of principal executive offices) (Zip code)

                               Thomas H. Dinsmore
                               Ellsworth Fund Ltd.
                               65 Madison Avenue
                       Morristown, New Jersey 07960-7308
                     (Name and address of agent for service)

                                    Copy to:
                                Steven King, Esq.
                      Ballard Spahr Andrews & Ingersoll, LLP
                        1735 Market Street, 49th Floor
                          Philadelphia, PA 19103-7599


Registrant's telephone number, including area code: 973-631-1177

Date of fiscal year end:  September 30, 2007

Date of reporting period:  June 30, 2007

<PAGE>
ITEM 1. SCHEDULE OF INVESTMENTS.

<PAGE>
<TABLE>
<CAPTION>

ELLSWORTH FUND LTD.---------------------------------------------------------------------
PORTFOLIO OF INVESTMENTS June 30, 2007 (unaudited)--------------------------------------

 Principal                                                                     Value
  Amount                                                                      (Note 1)
- -----------                                                                 ------------
<S>                                                                         <C>
            CONVERTIBLE BONDS AND NOTES -- 64.1%

            Aerospace and Defense -- 3.6%
$1,500,000  AAR Corp. 1.75%, due 2026 cv. sr. notes (BB)................... $  1,916,250
 1,000,000  Alliant Techsystems Inc. 2.75%, due 2011
            cv. sr. sub. notes (B1)........................................    1,161,250
 1,500,000  DRS Technologies, Inc. 2%, due 2026 cv. sr. notes (B1)
             (Acquired 01/30/06 - 05/16/07; Cost $1,601,001) (1,2).........    1,650,000
                                                                            ------------
                                                                               4,727,500
                                                                            ------------

            Agriculture -- 1.5%
 2,000,000  Merrill Lynch & Co., Inc. 1.5%, due 2012 cv. securities (Aa3)
             (exchangeable into Archer-Daniels-Midland Co. common stock)
             (Acquired 02/23/07; Cost $2,000,000) (2)......................    1,897,700
                                                                            ------------

            Banking/Savings and Loan -- 2.7%
 1,000,000  PrivateBancorp, Inc. 3.625%, due 2027 cv. sr. notes (NR).......      975,000
 1,500,000  U.S. Bancorp floating rate, due 2035 cv. sr. deb. (Aa2)........    1,511,250
 1,000,000  U.S. Bancorp floating rate, due 2037 cv. sr. deb. (Aa2)
             (Acquired 02/01/07; Cost $988,750) (2)........................      993,500
                                                                            ------------
                                                                               3,479,750
                                                                            ------------
            Computer Hardware -- 5.3%
 1,000,000  C&D Technologies, Inc. 5.25%, due 2025 cv. sr. notes (NR)......      975,000
 2,000,000  Credit Suisse, New York Branch 13.62%, due 2007
            equity-linked notes (Aa3)
             (exchangeable for Corning Inc. common stock)..................    2,210,200
 1,000,000  EMC Corp. 1.75%, due 2011 cv. sr. notes (BBB+).................    1,267,500
 1,000,000  EMC Corp. 1.75%, due 2013 cv. sr. notes (BBB+).................    1,278,750
 1,000,000  Richardson Electronics, Ltd. 8%, due 2011
            cv. sr. sub. notes (NR)........................................    1,126,250
                                                                            ------------
                                                                               6,857,700
                                                                            ------------
            Computer Software -- 4.9%
 1,000,000  Blackboard Inc 3.25%, due 2027 cv. sr. notes (NR)..............    1,051,250
 1,500,000  Epicor Software Corp. 2.375%, due 2027 sr. cv. notes (NR)......    1,560,000
 1,000,000  GSI Commerce, Inc. 2.5%, due 2027 cv. sr. notes (NR)
             (Acquired 06/27/07; Cost $1,001,875) (2)......................      998,750
 1,500,000  Lehman Brothers Holdings Inc. 1%, due 2009
            medium-term notes (A1)
             (performance linked to Microsoft Corp. common stock) (1)......    1,568,400
 1,000,000  Symantec Corp. 1%, due 2013 cv. sr. notes (NR).................    1,178,750
                                                                            ------------
                                                                               6,357,150
                                                                            ------------
            Consumer Goods -- 2.5%
 1,500,000  Chattem, Inc. 1.625%, due 2014 cv. sr. notes (NR)..............    1,569,375
 1,000,000  Church & Dwight Co., Inc. 5.25%, due 2033 cv. sr. deb. (Ba1)...    1,607,500
                                                                            ------------
                                                                               3,176,875
                                                                            ------------
            Energy -- 5.5%
 1,000,000  Cameron International Corp. 2.50%, due 2026
            cv. sr. notes (Baa1)...........................................    1,221,250
 1,500,000  Covanta Holding Corp. 1%, due 2027 sr. cv. deb. (B1) (1).......    1,550,625
 1,500,000  Nabors Industries, Inc. 0.94%, due 2011
            sr. exchangeable notes (A-)
             (exchangeable for Nabors Industries Ltd. common stock)........    1,470,000
 1,225,000  Oil States International, Inc. 2.375%, due 2025
            contingent cv. sr. notes (NR)..................................    1,799,219
 1,250,000  Rentech, Inc. 4%, due 2013 cv. sr. notes (NR)..................    1,134,375
                                                                            ------------
                                                                               7,175,469
                                                                            ------------
            Entertainment -- 3.9%
 2,000,000  Gannett Co., Inc. floating rate, due 2037 cv. sr. notes (NR)...    2,002,500
 2,500,000  The Walt Disney Company 2.125%, due 2023 cv. sr. notes (A3)....    3,006,250
                                                                            ------------
                                                                               5,008,750
                                                                            ------------
</TABLE>

Page 1

<PAGE>
<TABLE>
<CAPTION>

ELLSWORTH FUND LTD.---------------------------------------------------------------------
PORTFOLIO OF INVESTMENTS June 30, 2007 (continued)--------------------------------------

 Principal                                                                     Value
  Amount                                                                      (Note 1)
- -----------                                                                 ------------
<S>                                                                         <C>
            CONVERTIBLE BONDS AND NOTES -- continued

            Financial Services -- 1.6%
$2,000,000  Euronet Worldwide, Inc. 3.50%, due 2025 cv. deb. (B+) (1)...... $  2,112,500
                                                                            ------------

            Health Care -- 4.2%
 1,000,000  China Medical Technologies, Inc. 3.5%, due 2011
            cv. sr. sub. notes (NR)........................................    1,170,000
   500,000  LifePoint Hospitals, Inc. 3.25, due 2025 cv. sr. sub. deb. (B2)      467,500
   450,000  LifePoint Hospitals, Inc. 3.50, due 2014
            cv. sr. sub. notes (NR)........................................      459,000
 1,000,000  Manor Care, Inc. 2.125%, due 2035 cv. sr. notes (Baa3).........    1,506,250
 1,000,000  Omnicare, Inc. 3.25%, due 2035 cv. sr. deb. (B2) (1)...........      841,250
 1,000,000  St. Jude Medical, Inc. 1.22%, due 2008 cv. sr. deb. (BBB+)
             (Acquired 04/20/07; Cost $1,005,938) (2)......................      992,500
                                                                            ------------
                                                                               5,436,500
                                                                            ------------
            Insurance -- 2.4%
 3,000,000  Prudential Financial, Inc. floating rate, due 2036
            cv. sr. notes..................................................    3,107,400
                                                                            ------------

            Multi-Industry -- 4.9%
 2,000,000  Citigroup Funding Inc. 1%, due 2010 medium-term notes (Aa1)
             (exchangeable for the cash value of a basket of
             technology stocks) (1)........................................    1,986,000
   750,000  Diversa Corp. 5.5%, due 2027 cv. sr. notes (NR)
             (exchangeable for Verenium Corp. common stock)
             (Acquired 03/23/07; Cost $750,000) (2)........................      707,813
 1,125,000  FTI Consulting, Inc. 3.75%, due 2012 cv. sr. sub. notes (B1)...    1,591,875
 2,000,000  LSB Industries, Inc. 5.5%, due 2012 cv. sr. sub. deb. (NR)
             (Acquired 06/28/07; Cost $2,000,000) (2)......................    2,020,000
                                                                            ------------
                                                                               6,305,688
                                                                            ------------
            Pharmaceuticals -- 6.1%
 2,500,000  Bristol-Myers Squibb Co. floating rate, due 2023
            cv. sr. deb. (A2)..............................................    2,543,750
 1,625,000  Mylan Laboratories Inc. 1.25%, due 2012 sr. cv. notes (BBB-)...    1,576,250
 1,500,000  Teva Pharmaceutical Finance Co. B.V. 1.75%, due 2026
            cv. sr. deb. (Baa2)
             (exchangeable for Teva Pharmaceutical Industries Ltd. ADR)....    1,501,875
 2,000,000  Wyeth floating rate, due 2024 cv. sr. deb. (A3)................    2,272,400
                                                                            ------------
                                                                               7,894,275
                                                                            ------------
            Real Estate -- 2.5%
 1,000,000  ProLogis 2.25%, due 2037 cv. sr. notes (BBB+)
             (Acquired 03/20/07 - 04/16/07; Cost $982,038) (2).............      947,500
 1,000,000  United Dominion Realty Trust, Inc. 3.625%, due 2011
             cv. sr. notes (NR)............................................      951,250
 1,500,000  Vornado Realty Trust 2.85%, due 2027 cv. sr. deb. (Baa2).......    1,398,750
                                                                            ------------
                                                                               3,297,500
                                                                            ------------
            Retail -- 1.8%
 1,000,000  Amazon.com, Inc. 4.75%, due 2009 cv. sub. notes (Ba3)..........    1,023,750
 1,500,000  Charming Shoppes, Inc. 1.125%, due 2014 sr. cv notes (BB-)
             (Acquired 05/02/07 - 05/03/07; Cost $1,491,125) (2)...........    1,351,875
                                                                            ------------
                                                                               2,375,625
                                                                            ------------
            Semiconductors -- 6.6%
 2,000,000  Agere Systems Inc. 6.5%, due 2009 cv. sub. notes (B1)
             (exchangeable for LSI Corp.)..................................    2,042,500
 1,500,000  Cypress Semiconductor Corp. 1%, due 2009 cv. sr. notes (B-)....    1,665,000
 2,000,000  Fairchild Semiconductor Corp. 5%, due 2008
            cv. sr. sub. notes (B)
             (exchangeable into Fairchild Semiconductor
              International, Inc. common stock)............................    1,990,000
 2,000,000  Intel Corp. 2.95%, due 2035 jr. sub. cv. deb. (A-) (1).........    1,917,500
 1,000,000  LSI Corp. 4%, due 2010 cv. sub. notes (B+).....................      973,750
                                                                            ------------
                                                                               8,588,750
                                                                            ------------
</TABLE>

Page 2


<PAGE>
<TABLE>
<CAPTION>

ELLSWORTH FUND LTD.---------------------------------------------------------------------
PORTFOLIO OF INVESTMENTS June 30, 2007 (continued)--------------------------------------


 Principal                                                                     Value
  Amount                                                                      (Note 1)
- -----------                                                                 ------------
<S>                                                                         <C>
            CONVERTIBLE BONDS AND NOTES -- continued

            Telecommunications -- 2.6%
$1,000,000  Anixter International, Inc. 1%, due 2013 sr. cv. notes (BB-)... $  1,291,250
 1,000,000  Equinix, Inc. 2.5%, due 2012 cv. sub. notes (NR)...............    1,045,000
 1,000,000  SAVVIS, Inc. 3%, due 2012 cv. sr. notes (NR)...................    1,020,000
                                                                            ------------
                                                                               3,356,250
                                                                            ------------
            Transportation -- 1.5%
 2,000,000  ExpressJet Holdings, Inc. 4.25%, due 2023 cv. notes (NR).......    1,950,000
                                                                            ------------

            TOTAL CONVERTIBLE BONDS AND NOTES.............................. $ 83,105,382
                                                                            ------------

            CORPORATE BONDS AND NOTES -- 1.2%

            Retail -- 1.2%
 1,500,000  Amerivon Holdings LLC 4%, due 2010 units
             with corporate note and warrants attached (NR)
             (Acquired 06/01/07; Cost $1,500,000) (2)......................    1,500,000
                                                                            ------------
  Shares
- ----------
            CONVERTIBLE PREFERRED STOCKS -- 11.3%

            Aerospace and Defense -- 0.4%
    40,000  Ionatron, Inc. 6.5% Series A redeemable cv. pfd. (NR)
             (Acquired 10/27/05; Cost $1,000,000) (2)......................      460,000
                                                                            ------------

            Banking/Savings and Loan -- 3.8%
    54,178  New York Community Bancorp, Inc. 6% BONUSES units (Baa1).......    2,591,876
    20,000  Sovereign Capital Trust IV 4.375% PIERS (Baa1)
             (exchangeable for Sovereign Bancorp, Inc. common stock) (1)...      932,500
    25,000  Washington Mutual Capital Trust 5.375% PIERS units (BBB)
             (exchangeable for Washington Mutual, Inc. common stock).......    1,399,750
                                                                            ------------
                                                                               4,924,126
                                                                            ------------
            Chemicals -- 3.1%
    80,000  Celanese Corp. 4.25% cv. perpetual pfd. (NR)...................    4,012,800
                                                                            ------------

            Energy -- 1.6%
    20,000  Chesapeake Energy Corp. 4.5% cum. cv. pfd. (B+)................    2,010,000
                                                                            ------------

            Insurance -- 1.9%
    75,000  Citigroup Funding Inc. variable rate exch. notes (Aa1)
             (exchangeable for Genworth Financial, Inc. common stock)......    2,406,750
                                                                            ------------

            Telecommunications -- 0.6%
       100  Medis Technologies Ltd 7.25%
            Series A cum. cv. perpetual pfd. (NR)..........................      775,279
                                                                            ------------

            TOTAL CONVERTIBLE PREFERRED STOCKS............................. $ 14,588,955
                                                                            -------------
</TABLE>

Page 3


<PAGE>
<TABLE>
<CAPTION>

ELLSWORTH FUND LTD.---------------------------------------------------------------------
PORTFOLIO OF INVESTMENTS June 30, 2007 (continued)--------------------------------------

                                                                               Value
  Shares                                                                      (Note 1)
- -----------                                                                 ------------
<S>                                                                         <C>
            MANDATORY CONVERTIBLE SECURITIES -- 18.9% (3)

            Chemicals -- 1.5%
    40,000  Huntsman Corp. 5% mandatory cv. pfd., due 02/16/08 (NR)........ $  1,960,000
                                                                            ------------

            Consumer Goods -- 1.3%
     1,500  The Stanley Works floating rate equity units, due 05/17/12 (A2)    1,665,570
                                                                            ------------

            Energy -- 2.2%
    40,000  Bristow Group Inc. 5.5% mandatory cv. pfd., due 09/15/09 (B)...    2,552,000
     1,000  Chesapeake Energy Corp. 6.25% mandatory cv. pfd.,
             due 06/15/09 (B+).............................................      287,250
                                                                            ------------
                                                                               2,839,250
                                                                            ------------
            Finance -- 1.0%
    25,500  Morgan Stanley, Inc. 5.875% mandatorily exchangeable
            securities, due 10/15/08 (Aa3)
             (exchangeable for Nuveen Investments, Inc. common stock)......    1,348,440
                                                                            ------------

            Financial Services -- 1.5%
    70,000  E*TRADE Financial Corp. 6.125% equity units, due 11/18/08 (Ba3)    1,954,400
                                                                            ------------

            Foods -- 0.8%
    40,000  Lehman Brothers Holdings Inc. 6.25% PIES, due 10/15/07 (A1)
             (exchangeable for General Mills, Inc. common stock)...........    1,082,400
                                                                            ------------

            Pharmaceuticals -- 1.4%
    42,008  NATIXIS Financial Products Inc. 8.1% mandatory trigger
            exchangeable notes, due 12/05/07 (NR)
             (exchangeable for Sepracor Inc. common stock)
             (Acquired 05/23/07; Cost $2,000,000) (2)......................    1,769,146
                                                                            ------------

            Insurance -- 5.2%
     7,000  Alleghany Corp. 5.75% mandatory cv. pfd., due 06/15/09 (BBB-)..    2,632,000
    80,000  MetLife, Inc. 6.375% common equity units, due 08/15/08 (BBB+)..    2,588,000
    52,500  XL Capital, Ltd. 7% equity security units, due 02/15/09 (A3)...    1,542,450
                                                                            ------------
                                                                               6,762,450
                                                                            ------------
            Minerals and Mining -- 3.1%
    20,000  Freeport-McMoRan Copper & Gold Inc. 6.75% mandatory cv. pfd.,
             due 05/01/10 (B+).............................................    2,570,000
    20,000  Vale Capital Ltd. 5.5% mandatorily convertible notes,
            due 06/15/10 (NR)
             (exchangeable for ADSs representing Companhia Vale Do Rio Doce
              common stock)................................................      978,200
    10,000  Vale Capital Ltd. 5.5% mandatorily convertible notes,
            due 06/15/10 (NR)
             (exchangeable for ADSs representing Companhia Vale Do Rio Doce
              Preference A Shares).........................................      492,000
                                                                            ------------
                                                                               4,040,200
                                                                            ------------
            Telecommunications -- 0.8%
    14,000  Credit Suisse Securities (USA), Inc.  5.5% SAILS,
            due 11/15/08 (Aa1)
             (exchangeable for Equinix, Inc. common stock).................    1,090,880
                                                                            ------------

            TOTAL MANDATORY CONVERTIBLE SECURITIES (3)..................... $ 24,512,736
                                                                            ------------
</TABLE>

PAGE 4

<PAGE>
<TABLE>
<CAPTION>

ELLSWORTH FUND LTD.---------------------------------------------------------------------
PORTFOLIO OF INVESTMENTS June 30, 2007 (continued)--------------------------------------

                                                                               Value
  Shares                                                                      (Note 1)
- -----------                                                                 ------------
<S>                                                                         <C>
            COMMON STOCKS -- 1.6%

            Multi-Industry -- 1.6%
   100,000  LSB Industries, Inc. (4)....................................... $  2,140,000
                                                                            ------------

Principal
 Amount     SHORT-TERM SECURITIES -- 4.4%

            Commercial Paper -- 4.4%
$5,700,000  American Express Credit Corp. 5.26%, due 07/02/07 (P1).........    5,696,669
                                                                            ------------


            Total Convertible Bonds and Notes -- 64.1%..................... $ 83,105,382
            Total Corporate Bonds and Notes -- 1.2%........................    1,500,000
            Total Convertible Preferred Stocks -- 11.3%....................   14,588,955
            Total Mandatory Convertible Securities -- 18.9%................   24,512,736
            Total Common Stocks -- 1.6%....................................    2,140,000
            Total Short-Term Securities -- 4.4%............................    5,696,669
                                                                            ------------
            Total Investments -- 101.5%....................................  131,543,742

            Other assets and liabilities, net -- (1.5)%....................   (1,957,106)
                                                                            ------------
            Total Net Assets -- 100.0%..................................... $129,586,636
                                                                            ============
</TABLE>

(1)       Contingent payment debt instrument which accrues contingent interest.
          See Note 2.

(2)       Security not registered under the Securities Act of 1933, as amended
          (i.e., the security was purchased in a Rule 144A or a Reg D
          transaction). The security may be resold only pursuant to an exemption
          from registration under the 1933 Act, typically to qualified
          institutional buyers.  The Fund generally has no rights to demand
          registration of these securities. The aggregate market value of these
          securities at June 30, 2007 was $15,288,784 which represented 11.8% of
          the Fund's net assets.

(3)       These 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.

(4)       Non-income producing security.

ADR       American Depositary Receipts.
ADS	  American Depositary Shares.
BONUSES   Bifurcated Option Note Unit Securities.
PIES      Premium Income Exchangeable Securities.
PIERS     Preferred Income Equity Redeemable Securities.
SAILS     Shared Appreciation Income Linked Securities.


Ratings in parentheses by Moody's Investors Service, Inc. or Standard & Poor's.
NR is used whenever a rating is unavailable.

Summary of Portfolio Ratings:

                  % of
                Portfolio
Aa                    11
A                     16
Baa                   17
Ba                     7
B                     19
<B                     0
NR                    28
Common Stocks          2

Page 5
<PAGE>

ELLSWORTH FUND LTD.-------------------------------------------------------------
(Selected) NOTES TO FINANCIAL STATEMENTS (UNAUDITED)----------------------------

Ellsworth Fund Ltd. (established in 1986) (the "Fund"), is registered under the
Investment Company Act of 1940 as a diversified, closed-end management
investment company.

Note 1. Security Valuation - Investments in securities traded on a national
securities exchange are valued at market using the last reported sales price as
of the close of regular trading.   Listed securities for which no sales were
reported are valued at the mean between closing reported bid and asked prices
as of the close of regular trading.  Unlisted securities traded in the over-
the-counter market are valued using an evaluated quote provided by an
independent pricing service. The independent pricing service derives an
evaluated quote by obtaining dealer quotes, analyzing the listed markets,
reviewing trade execution data and employing sensitivity analysis. Evaluated
quotes may also reflect appropriate factors such as individual characteristics
of the issue, communications with broker-dealers, and other market data.
Securities for which quotations are not readily available, restricted
securities and other assets are valued at fair value as determined in good
faith by management pursuant to procedures approved by the Board of Trustees.
Short-term debt securities with original maturities of 60 days or less are
valued at amortized cost.

Note 2. Securities Transactions and Related Investment Income - Security
transactions are accounted for on the trade date (date the order to buy or sell
is executed) with gain or loss on the sale of securities being determined based
upon identified cost.  Dividend income is recorded on the ex-dividend date and
interest income is recorded on the accrual basis, including accretion of
discounts and amortization of non-equity premium. For certain securities, known
as "contingent payment debt instruments," Federal tax regulations require the
Fund to record non-cash, "contingent" interest income in addition to interest
income actually received.

At June 30, 2007 unrealized appreciation (depreciation) of investment
securities on a tax basis were as follows:

Unrealized appreciation               $ 12,541,013
Unrealized depreciation                 (3,203,093)
                                      ------------
Net unrealized appreciation              9,337,920

Cost for federal income tax purposes  $122,205,821

PAGE 6

<PAGE>

ITEM 2. CONTROLS AND PROCEDURES.

Conclusions of principal officers concerning controls and procedures

(a) The Registrant's principal executive officer and principal financial
officer, or persons performing similar functions, have concluded that the
Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940, as amended (the "Act"),
(17 CFR 270.30a-3(c))) are effective as of August 27, 2007, based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under
the Act (and 15d-15(b) under the Securities Exchange Act of 1934, as amended
(17 CFR 240.15d-15(b)).

(b) There have been no changes in the Registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act
(17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter
that has materially affected, or is reasonably likely to materially affect,
the Registrant's internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications of the principal executive officer and the principal
financial officer of the Registrant, as required by Rule 30a-2(a) under the
Investment Company Act of 1940, are filed herewith.

<PAGE>
SIGNATURES

  Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.

Ellsworth Fund Ltd.

By: /s/Thomas H. Dinsmore
    Thomas H. Dinsmore
    Chairman of the Board and
    Chief Executive Officer
    (Principal Executive Officer)

Date: August 31, 2007


  Pursuant to the requirements of the Securities and Exchange Act of 1934 and
the Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

By: /s/Thomas H. Dinsmore
    Thomas H. Dinsmore
    Chairman of the Board and
    Chief Executive Officer
    (Principal Executive Officer)

Date: August 31, 2007

By: /s/Gary I. Levine
    Gary I. Levine
    Chief Financial Officer
    (Principal Financial Officer)

Date: August 31, 2007
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>e0607ex-99_cert.txt
<DESCRIPTION>302 CERTIFICATIONS
<TEXT>
EX-99.CERT

				EXHIBIT 99.CERT

				 CERTIFICATION
<PAGE>
				CERTIFICATIONS
				--------------

I, Thomas H. Dinsmore, certify that:

1. I have reviewed this report on Form N-Q of Ellsworth Fund Ltd.;

2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedule of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

(b) Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report, based on such
evaluation; and

(d) Disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's
most recent fiscal quarter that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant's ability to record,
process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.


Date: August 31, 2007

/s/Thomas H. Dinsmore
Thomas H. Dinsmore
Chairman of the Board and
Chief Executive Officer
(Principal Executive Officer)

<PAGE>
				CERTIFICATIONS
				--------------

I, Gary I. Levine certify that:

1. I have reviewed this report on Form N-Q of Ellsworth Fund Ltd.;

2. Based on my knowledge, this report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedule of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) and internal control
over financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such
disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being
prepared;

(b) Designed such internal control over financial reporting, or caused
such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting
principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls
and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date
within 90 days prior to the filing date of this report, based on such
evaluation; and

(d) Disclosed in this report any change in the registrant's internal
control over financial reporting that occurred during the registrant's
most recent fiscal quarter that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant's ability to record,
process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.


Date: August 31, 2007

/s/Gary I. Levine
Gary I. Levine
Chief Financial Officer
(Principal Financial Officer)
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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