NPORT-EX 2 egf_nportex-03312022.htm SCHEDULE OF INVESTMENTS

SCHEDULE OF INVESTMENTS

Eagle Capital Growth Fund, Inc.

Portfolio of Investments (as of March 31, 2022) (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				4.20	%
Bank
Wells Fargo & Co.			10,000				403,661			$	390,700
										$	390,700				0.90	%
Brokerage
Charles Schwab			20,000				674,572				1,303,600
										$	1,303,600				3.10	%
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				5.80	%
Consumer
Mastercard Inc			1,000				219,636				356,050
Visa Inc.			1,500				225,957				317,595
										$	673,645				1.60	%
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				5.70	%
Drug/Medical Device
Johnson & Johnson			4,000				45,500				657,400
Stryker Corp.			4,500				19,055				1,096,110
										$	1,753,510				4.20	%
Food
Kraft Heinz Company			29,000				772,000				1,160,000
PepsiCo, Inc.			10,000				168,296				1,414,500
										$	2,574,500				6.10	%
Industrial
Illinois Tool Works Inc.			7,000				295,051				1,550,640
Waters Corp.*			6,000				302,341				1,705,020
										$	3,255,660				7.80	%
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				28.60	%
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				12.90	%
Restaurant
Starbucks Corp.			18,000				940,052				1,966,860
										$	1,966,860				4.70	%
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				4.30	%
Total common stock investments										$	37,658,844				89.80	%

											Market Value				% of Total Investments
Money Market Funds (10.2% of total investments)											LEVEL ONE
Morgan Stanley Inst. Liquidity Fund, Treasury, 0.01%											4,262,897				10.20	%
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