NPORT-EX 2 GB45_Ellsworth.htm

HTML

Ellsworth Growth and Income Fund Ltd.

Schedule of Investments — December 31, 2019 (Unaudited)

Principal Amount						Market Value
				CONVERTIBLE CORPORATE BONDS — 57.6%
				Aerospace — 2.3%
	$1,000,000			Aerojet Rocketdyne Holdings Inc.,
				2.250%, 12/15/23		$	1,818,770
	2,038,000			Kaman Corp.,
				3.250%, 05/01/24			2,449,676
							4,268,446
				Automotive — 0.4%
	500,000			Tesla Inc.,
				2.000%, 05/15/24			757,161
				Business Services — 1.5%
	1,500,000			Perficient Inc.,
				2.375%, 09/15/23			2,046,141
	400,000			RingCentral Inc.,
				Zero Coupon, 03/15/23			840,920
							2,887,061
				Cable and Satellite — 2.0%
	2,000,000			DISH Network Corp.,
				3.375%, 08/15/26			1,928,800
	1,525,000			Global Eagle Entertainment Inc.,
				2.750%, 02/15/35			743,941
	1,000,000			Liberty Latin America Ltd.,
				2.000%, 07/15/24(a)			1,073,750
							3,746,491
				Communications Equipment — 4.4%
	1,000,000			Harmonic Inc.,
				2.000%, 09/01/24			1,141,900
	2,870,000			InterDigital Inc.,
				2.000%, 06/01/24(a)			2,868,135
	2,500,000			Lumentum Holdings Inc., Ser. QIB,
				0.500%, 12/15/26			2,718,750
	1,500,000			Vocera Communications Inc.,
				1.500%, 05/15/23			1,487,331
							8,216,116
				Computer Software and Services — 17.9%
	1,000,000			Blackline Inc.,
				0.125%, 08/01/24(a)			1,000,625
	985,000			Boingo Wireless Inc.,
				1.000%, 10/01/23			875,142
	1,870,000			Coupa Software Inc.,
				0.125%, 06/15/25(a)			2,215,693
	2,500,000			CSG Systems International Inc.,
				4.250%, 03/15/36			2,865,625
	1,015,000			CyberArk Software Ltd.,
				Zero Coupon, 11/15/24			1,053,234
	1,530,000			Everbridge Inc.,
				0.125%, 12/15/24			1,519,671
	1,500,000			Evolent Health Inc.,
				1.500%, 10/15/25			1,061,294

Principal Amount						Market Value
	$   697,000			GDS Holdings Ltd.,
				2.000%, 06/01/25		$	845,888
	2,500,000			IAC Financeco 3 Inc.,
				2.000%, 01/15/30(a)			2,926,500
	1,250,000			LivePerson Inc.,
				0.750%, 03/01/24(a)			1,503,681
	1,500,000			MercadoLibre Inc.,
				2.000%, 08/15/28			2,243,194
	1,032,000			Nice Systems Inc.,
				1.250%, 01/15/24			1,971,765
	1,500,000			Okta Inc.,
				0.125%, 09/01/25(a)			1,458,175
	1,625,000			Pluralsight Inc.,
				0.375%, 03/01/24(a)			1,414,438
	2,040,000			Proofpoint Inc.,
				0.250%, 08/15/24(a)			2,106,099
	1,700,000			PROS Holdings Inc.,
				1.000%, 05/15/24(a)			1,955,273
	1,735,000			Q2 Holdings Inc.,
				0.750%, 06/01/26(a)			2,002,692
	1,225,000			SailPoint Technologies Holding Inc.,
				0.125%, 09/15/24(a)			1,323,907
	1,500,000			Splunk Inc.,
				1.125%, 09/15/25			1,853,438
	1,500,000			Workiva Inc.,
				1.125%, 08/15/26(a)			1,348,875
							33,545,209
				Consumer Services — 2.8%
	1,500,000			Extra Space Storage LP,
				3.125%, 10/01/35(a)			1,764,375
	1,500,000			Square Inc.,
				0.500%, 05/15/23			1,679,967
	1,695,000			Team Inc.,
				5.000%, 08/01/23			1,778,781
							5,223,123
				Diversified Industrial — 2.6%
	750,000			Chart Industries Inc.,
				1.000%, 11/15/24(a)			989,323
	1,000,000			KBR Inc.,
				2.500%, 11/01/23(a)			1,328,750
	2,000,000			Knowles Corp.,
				3.250%, 11/01/21			2,604,266
							4,922,339
				Energy and Utilities — 2.0%
	1,900,000			Cheniere Energy Inc.,
				4.250%, 03/15/45			1,505,850
	2,850,000			SunPower Corp.,
				4.000%, 01/15/23			2,341,845
							3,847,695

1

Ellsworth Growth and Income Fund Ltd.

Schedule of Investments (Continued) — December 31, 2019 (Unaudited)

Principal Amount						Market Value
				CONVERTIBLE CORPORATE BONDS (Continued)
				Financial Services — 2.4%
	$1,000,000			Encore Capital Group Inc.,
				3.250%, 03/15/22		$	1,038,644
	1,040,000			GOL Equity Finance SA,
				3.750%, 07/15/24(a)			1,207,699
	1,000,000			IIP Operating Partnership LP,
				3.750%, 02/21/24(a)			1,277,500
	641,000			LendingTree Inc.,
				0.625%, 06/01/22			1,004,379
							4,528,222
				Food and Beverage — 0.6%
	1,055,000			The Chefs’ Warehouse Inc.,
				1.875%, 12/01/24			1,166,099
				Health Care — 11.3%
	365,000			Aerie Pharmaceuticals Inc.,
				1.500%, 10/01/24(a)			438,071
	1,000,000			CONMED Corp.,
				2.625%, 02/01/24(a)			1,385,049
	575,000			DexCom Inc.,
				0.750%, 12/01/23(a)			853,126
	1,960,000			Exact Sciences Corp.,
				0.375%, 03/15/27			2,225,825
	750,000			Inovio Pharmaceuticals Inc.,
				6.500%, 03/01/24(a)			628,101
	1,500,000			Insulet Corp.,
				0.375%, 09/01/26			1,562,983
	1,250,000			Intercept Pharmaceuticals Inc.,
				2.000%, 05/15/26			1,666,385
	500,000			Invacare Corp.,
				4.500%, 06/01/22			470,873
	360,000			Invitae Corp.,
				2.000%, 09/01/24(a)			327,498
	1,171,000			Neurocrine Biosciences Inc.,
				2.250%, 05/15/24			1,798,992
	1,000,000			NuVasive Inc.,
				2.250%, 03/15/21			1,334,812
	1,500,000			Pacira BioSciences Inc.,
				2.375%, 04/01/22			1,563,019
	350,000			Repligen Corp.,
				0.375%, 07/15/24			379,244
	400,000			Retrophin Inc.,
				2.500%, 09/15/25			311,080
	1,254,000			Supernus Pharmaceuticals Inc.,
				0.625%, 04/01/23			1,141,354
	1,500,000			Tabula Rasa HealthCare Inc.,
				1.750%, 02/15/26(a)			1,506,563
	1,500,000			Teladoc Health Inc.,
				1.375%, 05/15/25			2,608,997

Principal Amount						Market Value
	$1,000,000			Theravance Biopharma Inc.,
				3.250%, 11/01/23		$	1,038,196
							21,240,168
				Semiconductors — 3.4%
	1,000,000			Cypress Semiconductor Corp.,
				4.500%, 01/15/22			1,746,085
	750,000			Inphi Corp.,
				1.125%, 12/01/20			1,396,421
	1,000,000			Rambus Inc.,
				1.375%, 02/01/23			1,018,100
	1,000,000			Teradyne Inc.,
				1.250%, 12/15/23			2,195,633
							6,356,239
				Telecommunications — 3.2%
	1,060,000			8x8 Inc.,
				0.500%, 02/01/24(a)			1,060,633
	2,500,000			Infinera Corp.,
				2.125%, 09/01/24			2,651,548
	1,450,000			Twilio Inc.,
				0.250%, 06/01/23			2,216,954
							5,929,135
				Transportation — 0.8%
	1,700,000			Atlas Air Worldwide Holdings Inc.,
				1.875%, 06/01/24			1,441,770
				TOTAL CONVERTIBLE CORPORATE BONDS			108,075,274
Shares
				CONVERTIBLE PREFERRED STOCKS — 2.5%
				Agriculture — 0.4%
	7,500			Bunge Ltd., 4.875%			788,700
				Business Services — 0.3%
	711,039			Amerivon Holdings LLC, 4.000% (b)			436,009
	272,728			Amerivon Holdings LLC, common equity units (b)			16,364
							452,373
				Financial Services — 0.8%
	1,000			Bank of America Corp., 7.250%, Ser. L			1,449,000
				Real Estate — 1.0%
	15,000			QTS Realty Trust Inc., 6.500%, Ser. B			1,937,550
				TOTAL CONVERTIBLE PREFERRED STOCKS			4,627,623
				MANDATORY CONVERTIBLE SECURITIES (c) — 16.1%
				Diversified Industrial — 2.5%
	15,000			Colfax Corp.,
				5.750%, 01/15/22			2,366,400
	31,316			International Flavors & Fragrances Inc.,
				6.000%, 09/15/21			1,503,481

2

Ellsworth Growth and Income Fund Ltd.

Schedule of Investments (Continued) — December 31, 2019 (Unaudited)

Shares						Market Value
				MANDATORY CONVERTIBLE SECURITIES (c) (Continued)
				Diversified Industrial (Continued)
	7,250			Stanley Black & Decker Inc.,
				5.250%, 11/15/22		$	789,960
							4,659,841
				Energy and Utilities — 7.2%
	27,695			American Electric Power Co. Inc.,
				6.125%, 03/15/22			1,499,130
	3,645			Aqua America Inc.,
				6.000%, 04/30/22			227,266
	37,800			CenterPoint Energy Inc., Ser. B
				7.000%, 09/01/21			1,842,372
	16,330			Dominion Energy Inc., Ser. A
				7.250%, 06/01/22			1,747,147
	17,000			DTE Energy Co.,
				6.250%, 11/01/22			871,420
	49,025			NextEra Energy Inc.,
				4.872%, 09/01/22			2,514,002
				Sempra Energy,
	5,383			Ser. A, 6.000%, 01/15/21			646,068
	5,000			Ser. B, 6.750%, 07/15/21			595,350
	35,890			South Jersey Industries Inc.,
				7.250%, 04/15/21			1,863,050
	29,100			The Southern Co.,
				6.750%, 08/01/22			1,568,490
							13,374,295
				Equipment and Supplies — 0.6%
	1,000			Danaher Corp., Ser. A
				4.750%, 04/15/22			1,179,040
				Financial Services — 2.5%
	10,000			2017 Mandatory Exchangeable Trust,
				5.188%, 12/01/20			1,552,500
	14,938			Assurant Inc., Ser. D
				6.500%, 03/15/21			1,921,326
	24,000			New York Community Capital Trust V,
				6.000%, 11/01/51			1,216,800
							4,690,626
				Health Care — 2.1%
	25,445			Avantor Inc., Ser. A
				6.250%, 05/15/22			1,603,035
	36,573			Becton, Dickinson and Co., Ser. A
				6.125%, 05/01/20			2,394,069
							3,997,104

Shares						Market Value
				Semiconductors — 1.2%
	1,945			Broadcom Inc., Ser.A
				8.000%, 09/30/22		$	2,291,152
				TOTAL MANDATORY CONVERTIBLE SECURITIES			30,192,058
				COMMON STOCKS — 20.8%
				Business Services — 0.9%
	15,000			PayPal Holdings Inc.†			1,622,550
				Computer Software and Services — 3.7%
	22,194			Alibaba Group Holding Ltd., ADR†			4,707,347
	14,300			Microsoft Corp.			2,255,110
							6,962,457
				Consumer Products — 0.7%
	24,000			Unilever NV			1,379,040
				Energy and Utilities — 0.5%
	8,000			Chevron Corp.			964,080
	132			Goodrich Petroleum Corp.†			1,325
							965,405
				Entertainment — 1.0%
	12,500			The Walt Disney Co.			1,807,875
				Financial Services — 1.1%
	9,546			Citigroup Inc.			762,630
	36,434			Synchrony Financial			1,311,988
							2,074,618
				Food and Beverage — 0.6%
	30,000			Conagra Brands Inc.			1,027,200
				Health Care — 2.8%
	12,960			Eli Lilly & Co.			1,703,333
	22,651			Merck & Co. Inc.			2,060,108
	40,000			Pfizer Inc.			1,567,200
							5,330,641
				Real Estate Investment Trusts — 6.4%
	10,000			American Tower Corp.			2,298,200
	16,100			Crown Castle International Corp.			2,288,615
	7,000			Equinix Inc.			4,085,900
	58,700			Invesco Mortgage Capital Inc.			977,355
	10,000			SBA Communications Corp.			2,409,900
							12,059,970
				Semiconductors — 1.0%
	30,000			Intel Corp.			1,795,500
				Telecommunications — 2.1%
	30,000			AT&T Inc.			1,172,400
	16,119			T-Mobile US Inc.†			1,264,052

3

Ellsworth Growth and Income Fund Ltd.

Schedule of Investments (Continued) — December 31, 2019 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				Telecommunications (Continued)
	25,000			Verizon Communications Inc.		$	1,535,000
							3,971,452
				TOTAL COMMON STOCKS			38,996,708
				WARRANTS — 0.0%
				Energy and Utilities — 0.0%
	1,131			Goodrich Petroleum Corp., expire 10/12/26†(b)			0

Principal Amount						Market Value
				U.S. GOVERNMENT OBLIGATIONS — 3.0%
	$5,615,000			U.S. Treasury Bills, 1.487% to 1.646%††, 01/09/20 to 03/26/20			$    5,599,373
				TOTAL INVESTMENTS — 100.0% (Cost $151,788,103)			$187,491,036

(a) Security 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) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(c) 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

4