<SEC-DOCUMENT>0001387131-20-007836.txt : 20200825
<SEC-HEADER>0001387131-20-007836.hdr.sgml : 20200825
<ACCEPTANCE-DATETIME>20200824183035
ACCESSION NUMBER:		0001387131-20-007836
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200630
FILED AS OF DATE:		20200825
PERIOD START:           	20201231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EAGLE CAPITAL GROWTH FUND, INC.
		CENTRAL INDEX KEY:			0000850027
		IRS NUMBER:				311274796
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05807
		FILM NUMBER:		201129034

	BUSINESS ADDRESS:	
		STREET 1:		225 EAST MASON STREET
		STREET 2:		SUITE 802
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		414-765-1107

	MAIL ADDRESS:	
		STREET 1:		225 EAST MASON STREET
		STREET 2:		SUITE 802
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NAIC GROWTH FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BETTER INVESTING FUND INC
		DATE OF NAME CHANGE:	19890716
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <genInfo>
      <regName>EAGLE CAPITAL GROWTH FUND, INC.</regName>
      <regFileNumber>811-05807</regFileNumber>
      <regCik>0000850027</regCik>
      <regLei>549300W62OY01Q0RFS14</regLei>
      <regStreet1>225 East Mason Street</regStreet1>
      <regStreet2>Suite 802</regStreet2>
      <regCity>Milwaukee</regCity>
      <regStateConditional regCountry="US" regState="US-WI"/>
      <regZipOrPostalCode>53202</regZipOrPostalCode>
      <regPhone>4147651107</regPhone>
      <seriesName>N/A</seriesName>
      <seriesLei>N/A</seriesLei>
      <repPdEnd>2020-12-31</repPdEnd>
      <repPdDate>2020-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>33832610.73</totAssets>
      <totLiabs>26270.42</totLiabs>
      <netAssets>33806340.31</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="0.065" rtn2="2.13" rtn3="9.9"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="0" netUnrealizedAppr="24082"/>
        <othMon2 netRealizedGain="316746" netUnrealizedAppr="362691"/>
        <othMon3 netRealizedGain="-299924" netUnrealizedAppr="3313919"/>
      </returnInfo>
      <mon1Flow redemption="N/A" reinvestment="N/A" sales="N/A"/>
      <mon2Flow redemption="N/A" reinvestment="N/A" sales="N/A"/>
      <mon3Flow redemption="N/A" reinvestment="N/A" sales="N/A"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Alphabet, Inc. A</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <ticker value="GOOGL"/>
        </identifiers>
        <balance>500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>709025</valUSD>
        <pctVal>0.021000899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Automatic Data Processing, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>053015103</cusip>
        <identifiers>
          <ticker value="ADP"/>
        </identifiers>
        <balance>6000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>893340</valUSD>
        <pctVal>0.0264602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AutoZone Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>053332102</cusip>
        <identifiers>
          <ticker value="AZO"/>
        </identifiers>
        <balance>750</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>846090</valUSD>
        <pctVal>0.025060683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berkshire Hathaway Inc. B</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>084670704</cusip>
        <identifiers>
          <ticker value="BRK.b"/>
        </identifiers>
        <balance>32000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5712320</valUSD>
        <pctVal>0.169195525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charles Schwab Corp</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>808513105</cusip>
        <identifiers>
          <ticker value="SCHW"/>
        </identifiers>
        <balance>20000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>674800</valUSD>
        <pctVal>0.019987175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colgate-Palmolive Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>194162103</cusip>
        <identifiers>
          <ticker value="CL"/>
        </identifiers>
        <balance>21000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1538460</valUSD>
        <pctVal>0.045568271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diamond Hill Investment Group</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>25264R207</cusip>
        <identifiers>
          <ticker value="DHIL"/>
        </identifiers>
        <balance>13711</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1558529.37</valUSD>
        <pctVal>0.046162714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>eBay Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>278642103</cusip>
        <identifiers>
          <ticker value="EBAY"/>
        </identifiers>
        <balance>20000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1049000</valUSD>
        <pctVal>0.031070757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Resources, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>354613101</cusip>
        <identifiers>
          <ticker value="BEN"/>
        </identifiers>
        <balance>77500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1625175</valUSD>
        <pctVal>0.048136718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Illinois Tool Works Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>452308109</cusip>
        <identifiers>
          <ticker value="ITW"/>
        </identifiers>
        <balance>9000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1573650</valUSD>
        <pctVal>0.046610578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>478160104</cusip>
        <identifiers>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>4000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>562520</valUSD>
        <pctVal>0.016661508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kimberly-Clark Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>494368103</cusip>
        <identifiers>
          <ticker value="KMB"/>
        </identifiers>
        <balance>3500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>494725</valUSD>
        <pctVal>0.014653461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kraft Heinz Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>500754106</cusip>
        <identifiers>
          <ticker value="KHC"/>
        </identifiers>
        <balance>29000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>924810</valUSD>
        <pctVal>0.027392323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Markel Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>570535104</cusip>
        <identifiers>
          <ticker value="MKL"/>
        </identifiers>
        <balance>1300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1200121</valUSD>
        <pctVal>0.035546871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mastercard Inc</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <ticker value="MA"/>
        </identifiers>
        <balance>1000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>295700</valUSD>
        <pctVal>0.008758458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>O'Reilly Automotive Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>67103H107</cusip>
        <identifiers>
          <ticker value="ORLY"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>843340</valUSD>
        <pctVal>0.02497923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Paychex, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>704326107</cusip>
        <identifiers>
          <ticker value="PAYX"/>
        </identifiers>
        <balance>20000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1515000</valUSD>
        <pctVal>0.0448734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PepsiCo, Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>713448108</cusip>
        <identifiers>
          <ticker value="PEP"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1322600</valUSD>
        <pctVal>0.039174626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Procter &amp; Gamble Company</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>742718109</cusip>
        <identifiers>
          <ticker value="PG"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>239140</valUSD>
        <pctVal>0.007083185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>855244109</cusip>
        <identifiers>
          <ticker value="SBUX"/>
        </identifiers>
        <balance>22000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1618980</valUSD>
        <pctVal>0.047953226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>863667101</cusip>
        <identifiers>
          <ticker value="SYK"/>
        </identifiers>
        <balance>6400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1153216</valUSD>
        <pctVal>0.034157573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T. Rowe Price Group Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>74144T108</cusip>
        <identifiers>
          <ticker value="TROW"/>
        </identifiers>
        <balance>13800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1704300</valUSD>
        <pctVal>0.050480353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Visa Inc.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <ticker value="V"/>
        </identifiers>
        <balance>1500</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>289755</valUSD>
        <pctVal>0.008582371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waters Corp.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>941848103</cusip>
        <identifiers>
          <ticker value="WAT"/>
        </identifiers>
        <balance>6000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1082400</valUSD>
        <pctVal>0.032060045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>N/A</lei>
        <title>Common</title>
        <cusip>949746101</cusip>
        <identifiers>
          <ticker value="WFC"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>256000</valUSD>
        <pctVal>0.007582568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Institutional Liquidity Fund Treasury Port</name>
        <lei>549300D1XR6GP7EZ0T47</lei>
        <title>Money market fund investment</title>
        <cusip>61747C582</cusip>
        <identifiers>
          <ticker value="MISXX"/>
        </identifiers>
        <balance>4112330</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4112330.75</valUSD>
        <pctVal>0.120807283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-08-24</ncom:dateSigned>
      <ncom:nameOfApplicant>EAGLE CAPITAL GROWTH FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ David Sims</ncom:signature>
      <ncom:signerName>David Sims</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
