Please wait
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
—
December
31,
2025
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
—
86
.7
%
Aerospace
and
Defense
—
4
.7
%
$
2,500,000
AeroVironment
Inc.
,
Zero
Coupon
,
07/15/30
...........
$
2,718,750
1,700,000
AST
SpaceMobile
Inc.
,
2.000
%
,
01/15/36
(a)
.............
1,700,935
1,500,000
BlackSky
Technology
Inc.
,
8.250
%
,
08/01/33
(a)
.............
1,600,200
2,000,000
Voyager
Technologies
Inc.
,
0.750
%
,
11/15/30
(a)
.............
2,107,000
8,126,885
Automotive:
Parts
and
Accessories
—
1
.2
%
2,000,000
Plug
Power
Inc.
,
6.750
%
,
12/01/33
(a)
.............
2,002,000
Business
Services
—
1
.7
%
1,600,000
Mirion
Technologies
Inc.
,
0.250
%
,
06/01/30
(a)
.............
1,986,800
Terawulf
Inc.
600,000
1.000
%
,
09/01/31
(a)
.............
710,700
200,000
Zero
Coupon
,
05/01/32
(a)
.........
173,500
2,871,000
Communications
Equipment
—
3
.4
%
2,000,000
CyberArk
Software
Ltd.
,
Zero
Coupon
,
06/15/30
(a)
.........
2,142,000
1,750,000
Lumentum
Holdings
Inc.
,
0.375
%
,
03/15/32
(a)
.............
3,749,375
5,891,375
Computer
Software
and
Services
—
6
.6
%
2,000,000
Akamai
Technologies
Inc.
,
0.250
%
,
05/15/33
(a)
.............
2,216,000
375,000
Bitdeer
Technologies
Group
,
4.000
%
,
11/15/31
(a)
.............
348,263
3,000,000
Box
Inc.
,
1.500
%
,
09/15/29
...............
2,925,000
1,100,000
Pagaya
Technologies
Ltd.
,
6.125
%
,
10/01/29
...............
2,008,490
2,000,000
Parsons
Corp.
,
2.625
%
,
03/01/29
...............
2,061,000
1,700,000
Progress
Software
Corp.
,
3.500
%
,
03/01/30
...............
1,724,225
11,282,978
Consumer
Products
—
1
.2
%
2,000,000
Zoetis
Inc.
,
0.250
%
,
06/15/29
(a)
.............
2,065,000
Consumer
Services
—
2
.8
%
2,000,000
Live
Nation
Entertainment
Inc.
,
2.875
%
,
01/15/30
...............
2,106,000
Principal
Amount
Market
Value
$
2,140,000
Uber
Technologies
Inc.
,
Ser.
2028
,
0.875
%
,
12/01/28
...............
$
2,780,930
4,886,930
Diversified
Industrial
—
2
.1
%
1,500,000
BWX
Technologies
Inc.
,
Zero
Coupon
,
11/01/30
(a)
.........
1,433,250
750,000
Enovix
Corp.
,
4.750
%
,
09/15/30
(a)
.............
725,250
1,500,000
PureCycle
Technologies
Inc.
,
7.250
%
,
08/15/30
...............
1,515,000
3,673,500
Energy
and
Utilities
—
19
.6
%
800,000
Array
Technologies
Inc.
,
2.875
%
,
07/01/31
(a)
.............
1,158,000
200,000
Bloom
Energy
Corp.
,
3.000
%
,
06/01/28
...............
932,120
1,300,000
Centrus
Energy
Corp.
,
Zero
Coupon
,
08/15/32
(a)
.........
1,676,025
CMS
Energy
Corp.
2,000,000
3.375
%
,
05/01/28
...............
2,144,000
1,000,000
3.125
%
,
05/01/31
(a)
.............
989,550
650,000
Energy
Fuels
Inc.
,
0.750
%
,
11/01/31
(a)
.............
674,700
3,000,000
Eos
Energy
Enterprises
Inc.
,
1.750
%
,
12/01/31
(a)
.............
2,917,500
3,000,000
FirstEnergy
Corp.
,
3.875
%
,
01/15/31
(a)
.............
3,235,500
3,350,000
Fluor
Corp.
,
1.125
%
,
08/15/29
...............
3,824,695
1,000,000
Golar
LNG
Ltd.
,
2.750
%
,
12/15/30
(a)
.............
966,750
2,250,000
Nabors
Industries
Inc.
,
1.750
%
,
06/15/29
...............
1,833,075
2,600,000
Northern
Oil
&
Gas
Inc.
,
3.625
%
,
04/15/29
...............
2,514,850
1,600,000
Nova
Ltd.
,
Zero
Coupon
,
09/15/30
(a)
.........
1,993,600
PPL
Capital
Funding
Inc.
3,000,000
2.875
%
,
03/15/28
...............
3,296,250
1,000,000
3.000
%
,
12/01/30
(a)
.............
1,003,665
1,500,000
Solaris
Energy
Infrastructure
Inc.
,
0.250
%
,
10/01/31
...............
1,626,563
100,000
Ur-Energy
Inc.
,
4.750
%
,
01/15/31
(a)
.............
114,850
2,450,000
WEC
Energy
Group
Inc.
,
4.375
%
,
06/01/29
...............
2,864,050
33,765,743
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2025
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
(Continued)
Energy
and
Utilities:
Integrated
—
1
.2
%
$
2,250,000
Nebius
Group
NV
,
2.750
%
,
09/15/32
(a)
.............
$
2,158,875
Entertainment
—
1
.1
%
1,500,000
Liberty
Media
Corp.-Liberty
Formula
One
,
2.250
%
,
08/15/27
...............
1,901,250
Financial
Services
—
11
.5
%
3,495,000
Bitfarms
Ltd.
,
1.375
%
,
01/15/31
(a)
.............
2,191,016
4,200,000
Cleanspark
Inc.
,
Zero
Coupon
,
02/15/32
(a)
.........
3,168,900
Coinbase
Global
Inc.
1,200,000
0.250
%
,
04/01/30
...............
1,232,100
600,000
Zero
Coupon
,
10/01/32
(a)
.........
538,200
2,000,000
Galaxy
Digital
Holdings
LP
,
2.500
%
,
12/01/29
(a)
.............
2,530,200
1,250,000
Jazz
Investments
I
Ltd.
,
3.125
%
,
09/15/30
...............
1,666,875
2,150,000
Riot
Platforms
Inc.
,
0.750
%
,
01/15/30
(a)
.............
2,437,562
1,000,000
SoFi
Technologies
Inc.
,
1.250
%
,
03/15/29
(a)
.............
2,832,500
2,600,000
WisdomTree
Inc.
,
3.250
%
,
08/15/29
...............
3,131,375
19,728,728
Health
Care
—
18
.1
%
2,000,000
ANI
Pharmaceuticals
Inc.
,
2.250
%
,
09/01/29
...............
2,524,000
2,500,000
Bridgebio
Pharma
Inc.
,
1.750
%
,
03/01/31
(a)
.............
4,353,125
237,000
Celcuity
Inc.
,
2.750
%
,
08/01/31
...............
514,740
350,000
Cogent
Biosciences
Inc.
,
1.625
%
,
11/15/31
...............
411,530
1,500,000
Collegium
Pharmaceutical
Inc.
,
2.875
%
,
02/15/29
...............
2,121,600
2,000,000
Cytokinetics
Inc.
,
1.750
%
,
10/01/31
(a)
.............
2,494,200
3,000,000
Halozyme
Therapeutics
Inc.
,
0.875
%
,
11/15/32
(a)
.............
3,052,500
1,015,000
Invacare
Corp.,
Escrow
,
Zero
Coupon
,
05/08/28
(b)
.........
0
400,000
Ionis
Pharmaceuticals
Inc.
,
Zero
Coupon
,
12/01/30
(a)
.........
427,000
2,600,000
Ligand
Pharmaceuticals
Inc.
,
0.750
%
,
10/01/30
(a)
.............
3,054,090
OSI
Systems
Inc.
1,750,000
2.250
%
,
08/01/29
...............
2,604,000
Principal
Amount
Market
Value
$
300,000
0.500
%
,
02/01/31
(a)
.............
$
295,710
3,900,000
Sarepta
Therapeutics
Inc.
,
4.875
%
,
09/01/30
...............
3,141,450
2,250,000
Tempus
AI
Inc.
,
0.750
%
,
07/15/30
(a)
.............
2,403,000
1,500,000
TransMedics
Group
Inc.
,
1.500
%
,
06/01/28
...............
2,249,175
1,000,000
Travere
Therapeutics
Inc.
,
2.250
%
,
03/01/29
...............
1,427,000
31,073,120
Metals
and
Mining
—
2
.2
%
750,000
Endeavour
Silver
Corp.
,
0.250
%
,
01/15/31
(a)
.............
817,500
150,000
First
Majestic
Silver
Corp.
,
0.125
%
,
01/15/31
(a)
.............
165,675
1,100,000
MP
Materials
Corp.
,
3.000
%
,
03/01/30
(a)
.............
2,748,350
3,731,525
Real
Estate
Investment
Trusts
—
1
.8
%
3,000,000
Digital
Realty
Trust
LP
,
1.875
%
,
11/15/29
(a)
.............
3,049,500
Retail
—
2
.1
%
2,300,000
Alibaba
Group
Holding
Ltd.
,
0.500
%
,
06/01/31
...............
3,577,650
Security
Software
—
0
.2
%
380,000
Cloudflare
Inc.
,
Zero
Coupon
,
06/15/30
(a)
.........
414,010
Semiconductors
—
2
.9
%
1,690,000
Cohu
Inc.
,
1.500
%
,
01/15/31
(a)
.............
1,883,505
Impinj
Inc.
500,000
1.125
%
,
05/15/27
...............
815,900
150,000
Zero
Coupon
,
09/15/29
(a)
.........
154,725
2,000,000
indie
Semiconductor
Inc.
,
3.500
%
,
12/15/29
(a)
.............
2,085,000
4,939,130
Telecommunications
—
2
.3
%
1,250,000
ADTRAN
Holdings
Inc.
,
3.750
%
,
09/15/30
(a)
.............
1,351,250
1,000,000
Applied
Digital
Corp.
,
2.750
%
,
06/01/30
...............
2,703,750
4,055,000
TOTAL
CONVERTIBLE
CORPORATE
BONDS
.......................
149,194,199
Ellsworth
Growth
and
Income
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2025
(Unaudited)
Principal
Amount
Market
Value
CORPORATE
BONDS
—
0
.6
%
Health
Care
—
0
.6
%
$
1,000,000
iTracHEALTH
Corp.
,
8.000
%
,
06/30/27
(b)
.............
$
1,000,000
Shares
MANDATORY
CONVERTIBLE
SECURITIES
(c)
—
11
.6
%
Aerospace
and
Defense
—
1
.0
%
25,050
The
Boeing
Co.
,
6.000
%
,
10/15/27
...............
1,729,953
Computer
Software
and
Services
—
2
.2
%
57,000
Hewlett
Packard
Enterprise
Co.
,
7.625
%
,
09/01/27
...............
3,801,330
Energy
and
Utilities
—
2
.7
%
40,000
NextEra
Energy
Inc.
,
7.234
%
,
11/01/27
...............
1,950,000
51,500
The
Southern
Co.
,
Ser.
A
,
7.125
%
,
12/15/28
...............
2,593,540
4,543,540
Financial
Services
—
1
.4
%
30,698
Shift4
Payments
Inc.
,
6.000
%
,
05/01/28
...............
2,456,147
Health
Care
—
2
.2
%
30,000
BrightSpring
Health
Services
Inc.
,
6.750
%
,
02/01/27
...............
3,786,300
Semiconductors
—
2
.1
%
61,500
Microchip
Technology
Inc.
,
7.500
%
,
03/15/28
...............
3,584,220
TOTAL
MANDATORY
CONVERTIBLE
SECURITIES
...................
19,901,490
COMMON
STOCKS
—
15
.5
%
Business
Services
—
0
.4
%
13,000
PayPal
Holdings
Inc.
...............
758,940
Computer
Software
and
Services
—
2
.0
%
7,000
Microsoft
Corp.
..................
3,385,340
Entertainment
—
0
.8
%
12,500
The
Walt
Disney
Co.
...............
1,422,125
Real
Estate
Investment
Trusts
—
4
.4
%
10,000
American
Tower
Corp.
..............
1,755,700
16,100
Crown
Castle
Inc.
.................
1,430,807
4,000
Equinix
Inc.
.....................
3,064,640
7,000
SBA
Communications
Corp.
..........
1,354,010
7,605,157
Semiconductors
—
4
.1
%
5,000
Advanced
Micro
Devices
Inc.
†
........
1,070,800
Shares
Market
Value
17,080
Broadcom
Inc.
...................
$
5,911,388
6,982,188
Telecommunications
—
3
.8
%
60,000
AT&T
Inc.
.......................
1,490,400
14,619
T-Mobile
US
Inc.
..................
2,968,242
50,000
Verizon
Communications
Inc.
.........
2,036,500
6,495,142
TOTAL
COMMON
STOCKS
...........
26,648,892
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
2
.7
%
$
4,675,000
U.S.
Treasury
Bills,
3.565
%
to
3.651
%
††
,
03/05/26
to
03/19/26
......................
4,641,627
TOTAL
INVESTMENTS
—
117
.1
%
.....
(Cost
$
164,508,268
)
.............
$
201,386,208
(a)
Securities
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.