Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
01 March 2024 - 2:34AM
Edgar (US Regulatory)
Bancroft
Fund
Ltd.
Schedule
of
Investments
—
December
31,
2023
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
—
90.7%
Automotive:
Parts
and
Accessories
—
1.1%
$
1,250,000
Rivian
Automotive
Inc.,
3.625%,
10/15/30(a)
.............
$
1,541,375
Business
Services
—
4.1%
2,000,000
BigBear.ai
Holdings
Inc.,
6.000%,
12/15/26(a)
.............
1,355,000
2,500,000
Perficient
Inc.,
0.125%,
11/15/26
...............
2,082,750
2,000,000
Shift4
Payments
Inc.,
Zero
Coupon,
12/15/25
...........
2,228,800
5,666,550
Communications
Equipment
—
4.1%
2,500,000
InterDigital
Inc.,
3.500%,
06/01/27
...............
3,673,500
2,000,000
Lumentum
Holdings
Inc.,
1.500%,
12/15/29(a)
.............
1,993,000
5,666,500
Computer
Software
and
Services
—
17.1%
2,000,000
Akamai
Technologies
Inc.,
1.125%,
02/15/29(a)
.............
2,173,000
3,000,000
Bandwidth
Inc.,
0.250%,
03/01/26
...............
2,497,650
3,000,000
CSG
Systems
International
Inc.,
3.875%,
09/15/28(a)
.............
3,028,200
1,915,000
Edgio
Inc.,
3.500%,
08/01/25
...............
1,699,093
2,605,000
i3
Verticals
LLC,
1.000%,
02/15/25
...............
2,443,816
1,250,000
PagerDuty
Inc.,
1.500%,
10/15/28(a)
.............
1,361,000
2,250,000
PAR
Technology
Corp.,
2.875%,
04/15/26
...............
2,736,675
3,090,000
Progress
Software
Corp.,
1.000%,
04/15/26
...............
3,270,765
1,805,000
PROS
Holdings
Inc.,
2.250%,
09/15/27
...............
2,043,260
3,156,000
Veritone
Inc.,
1.750%,
11/15/26
...............
953,640
1,500,000
Workiva
Inc.,
1.250%,
08/15/28(a)
.............
1,520,250
23,727,349
Consumer
Products
—
1.4%
1,950,000
Post
Holdings
Inc.,
2.500%,
08/15/27
...............
1,980,225
Consumer
Services
—
3.9%
1,350,000
Marriott
Vacations
Worldwide
Corp.,
3.250%,
12/15/27
...............
1,200,825
Principal
Amount
Market
Value
NCL
Corp.
Ltd.
$
660,000
5.375%,
08/01/25
...............
$
850,080
623,000
1.125%,
02/15/27
...............
571,976
1,600,000
Stride
Inc.,
1.125%,
09/01/27
...............
2,033,600
640,000
Uber
Technologies
Inc.,
Ser.
2028,
0.875%,
12/01/28(a)
.............
699,200
5,355,681
Diversified
Industrial
—
0.6%
2,000,000
PureCycle
Technologies
Inc.,
7.250%,
08/15/30(a)
.............
776,000
Energy
and
Utilities
—
18.0%
1,500,000
Alliant
Energy
Corp.,
3.875%,
03/15/26(a)
.............
1,496,250
2,938,000
Array
Technologies
Inc.,
1.000%,
12/01/28
...............
2,900,541
700,000
Bloom
Energy
Corp.,
3.000%,
06/01/28(a)
.............
749,000
2,000,000
CMS
Energy
Corp.,
3.375%,
05/01/28(a)
.............
1,988,000
2,000,000
Duke
Energy
Corp.,
4.125%,
04/15/26(a)
.............
2,010,000
1,000,000
Fluor
Corp.,
1.125%,
08/15/29(a)
.............
1,091,250
850,000
Nabors
Industries
Inc.,
1.750%,
06/15/29(a)
.............
617,865
1,750,000
NextEra
Energy
Partners
LP,
2.500%,
06/15/26(a)
.............
1,576,750
1,600,000
Northern
Oil
and
Gas
Inc.,
3.625%,
04/15/29
...............
1,894,400
2,500,000
Ormat
Technologies
Inc.,
2.500%,
07/15/27
...............
2,577,500
2,634,000
PG&E
Corp.,
4.250%,
12/01/27(a)
.............
2,773,602
3,000,000
PPL
Capital
Funding
Inc.,
2.875%,
03/15/28(a)
.............
2,920,500
1,500,000
Stem
Inc.,
4.250%,
04/01/30(a)
.............
1,096,500
1,900,000
Sunnova
Energy
International
Inc.,
2.625%,
02/15/28
...............
1,267,300
24,959,458
Entertainment
—
5.6%
1,810,000
fuboTV
Inc.,
3.250%,
02/15/26
...............
1,330,350
2,915,000
Liberty
Media
Corp.-Liberty
Formula
One,
2.250%,
08/15/27
...............
2,971,629
3,000,000
Live
Nation
Entertainment
Inc.,
3.125%,
01/15/29(a)
.............
3,414,300
7,716,279
Bancroft
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
(Continued)
Financial
Services
—
5.2%
$
1,500,000
Bread
Financial
Holdings
Inc.,
4.250%,
06/15/28(a)
.............
$
1,606,950
2,000,000
HCI
Group
Inc.,
4.750%,
06/01/42
...............
2,480,000
1,800,000
LendingTree
Inc.,
0.500%,
07/15/25
...............
1,503,000
2,000,000
SoFi
Technologies
Inc.,
Zero
Coupon,
10/15/26(a)
.........
1,693,000
7,282,950
Food
and
Beverage
—
1.0%
1,500,000
The
Chefs'
Warehouse
Inc.,
2.375%,
12/15/28
...............
1,431,325
Health
Care
—
12.3%
1,500,000
Amphastar
Pharmaceuticals
Inc.,
2.000%,
03/15/29(a)
.............
1,826,250
1,500,000
Coherus
Biosciences
Inc.,
1.500%,
04/15/26
...............
850,789
2,125,000
CONMED
Corp.,
2.250%,
06/15/27
...............
2,134,350
1,750,000
Cutera
Inc.,
2.250%,
06/01/28
...............
459,375
750,000
Cytokinetics
Inc.,
3.500%,
07/01/27
...............
1,320,000
750,000
Dexcom
Inc.,
0.375%,
05/15/28(a)
.............
771,750
375,000
Evolent
Health
Inc.,
3.500%,
12/01/29(a)
.............
439,125
2,250,000
Exact
Sciences
Corp.,
2.000%,
03/01/30(a)
.............
2,710,125
3,200,000
Halozyme
Therapeutics
Inc.,
1.000%,
08/15/28
...............
2,980,800
940,000
Invacare
Corp.,
Escrow,
Zero
Coupon,
05/08/28(b)
.........
0
100,000
Merit
Medical
Systems
Inc.,
3.000%,
02/01/29(a)
.............
111,150
3,000,000
TransMedics
Group
Inc.,
1.500%,
06/01/28(a)
.............
3,401,400
17,005,114
Real
Estate
Investment
Trusts
—
3.4%
1,500,000
Arbor
Realty
Trust
Inc.,
7.500%,
08/01/25
...............
1,528,500
817,000
Pebblebrook
Hotel
Trust,
1.750%,
12/15/26
...............
731,705
1,000,000
Redwood
Trust
Inc.,
7.750%,
06/15/27
...............
921,875
Principal
Amount
Market
Value
$
1,710,000
Summit
Hotel
Properties
Inc.,
1.500%,
02/15/26
...............
$
1,524,465
4,706,545
Security
Software
—
0.8%
1,495,000
Cardlytics
Inc.,
1.000%,
09/15/25
...............
934,375
175,000
Rapid7
Inc.,
1.250%,
03/15/29(a)
.............
195,353
1,129,728
Semiconductors
—
8.6%
2,000,000
Impinj
Inc.,
1.125%,
05/15/27
...............
2,187,600
1,500,000
indie
Semiconductor
Inc.,
4.500%,
11/15/27(a)
.............
1,810,500
3,000,000
ON
Semiconductor
Corp.,
0.500%,
03/01/29(a)
.............
3,202,500
3,000,000
Semtech
Corp.,
1.625%,
11/01/27
...............
2,578,500
3,125,000
Wolfspeed
Inc.,
1.875%,
12/01/29
...............
2,141,406
11,920,506
Telecommunications
—
2.5%
2,020,000
8x8
Inc.,
0.500%,
02/01/24
...............
1,999,646
Infinera
Corp.
1,250,000
2.500%,
03/01/27
...............
1,147,248
325,000
3.750%,
08/01/28
...............
320,743
3,467,637
Transportation
—
1.0%
1,600,000
Air
Transport
Services
Group
Inc.,
3.875%,
08/15/29(a)
.............
1,428,000
TOTAL
CONVERTIBLE
CORPORATE
BONDS
....................
125,761,222
Shares
CONVERTIBLE
PREFERRED
STOCKS
—
0.5%
Business
Services
—
0.0%
809,253
Amerivon
Holdings
LLC,
4.000%(b)
....................
0
272,728
Amerivon
Holdings
LLC,
common
equity
units
(b)
..........................
3
3
Health
Care
—
0.5%
28,911
Invacare
Holdings
Corp.,
Ser.
A,
9.000%(b)
....................
650,497
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
...................
650,500
Bancroft
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Shares
Market
Value
MANDATORY
CONVERTIBLE
SECURITIES(c)
—
4.8%
Diversified
Industrial
—
2.1%
53,600
Chart
Industries
Inc.,
Ser.
B,
6.750%,
12/15/25
...............
$
2,979,088
Energy
and
Utilities
—
1.7%
60,000
NextEra
Energy
Inc.,
6.926%,
09/01/25
...............
2,287,200
Financial
Services
—
1.0%
32,000
New
York
Community
Capital
Trust
V,
6.000%,
11/01/51
...............
1,328,320
TOTAL
MANDATORY
CONVERTIBLE
SECURITIES
................
6,594,608
COMMON
STOCKS
—
0.0%
Health
Care
—
0.0%
12,938
Invacare
Holdings
Corp.†(b)
.........
0
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
4.0%
$
5,650,000
U.S.
Treasury
Bills,
5.281%
to
5.335%††,
02/01/24
to
03/21/24
......................
5,610,148
TOTAL
INVESTMENTS
—
100.0%
....
(Cost
$142,738,871)
.............
$
138,616,478
(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.
Bancroft (AMEX:BCV-A)
Historical Stock Chart
From Oct 2024 to Nov 2024
Bancroft (AMEX:BCV-A)
Historical Stock Chart
From Nov 2023 to Nov 2024
