Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)
03 Mars 2025 - 5:46PM
Edgar (US Regulatory)
Bancroft
Fund
Ltd.
Schedule
of
Investments
—
December
31,
2024
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
—
85.4%
Aerospace
and
Defense
—
1.2%
$
350,000
Rocket
Lab
USA
Inc.,
4.250%,
02/01/29(a)
.............
$
1,769,255
Automotive:
Parts
and
Accessories
—
0.7%
1,000,000
Rivian
Automotive
Inc.,
4.625%,
03/15/29
...............
1,010,375
Business
Services
—
2.3%
1,600,000
Live
Nation
Entertainment
Inc.,
2.875%,
01/15/30(a)
.............
1,614,400
MicroStrategy
Inc.
1,000,000
Zero
Coupon,
12/01/29(a)
.........
805,000
600,000
2.250%,
06/15/32(a)
.............
979,800
3,399,200
Computer
Software
and
Services
—
17.0%
2,875,000
Akamai
Technologies
Inc.,
1.125%,
02/15/29
...............
2,817,640
2,300,000
Alibaba
Group
Holding
Ltd.,
0.500%,
06/01/31(a)(b)
...........
2,450,075
2,000,000
Box
Inc.,
1.500%,
09/15/29(a)
.............
1,952,000
3,000,000
CSG
Systems
International
Inc.,
3.875%,
09/15/28
...............
3,036,000
120,000
Guidewire
Software
Inc.,
1.250%,
11/01/29(a)
.............
117,660
Nutanix
Inc.
1,500,000
0.250%,
10/01/27
...............
1,819,500
400,000
0.500%,
12/15/29(a)
.............
397,400
1,500,000
Pagaya
Technologies
Ltd.,
6.125%,
10/01/29(a)
.............
1,564,500
1,250,000
PagerDuty
Inc.,
1.500%,
10/15/28
...............
1,221,250
1,000,000
Parsons
Corp.,
2.625%,
03/01/29
...............
1,175,500
1,805,000
PROS
Holdings
Inc.,
2.250%,
09/15/27
...............
1,728,287
900,000
Snowflake
Inc.,
Zero
Coupon,
10/01/29(a)
.........
1,071,900
700,000
Varonis
Systems
Inc.,
1.000%,
09/15/29(a)
.............
662,375
4,156,000
Veritone
Inc.,
1.750%,
11/15/26
...............
1,702,005
900,000
Vertex
Inc.,
0.750%,
05/01/29(a)
.............
1,427,419
1,500,000
Workiva
Inc.,
1.250%,
08/15/28
...............
1,593,375
24,736,886
Principal
Amount
Market
Value
Consumer
Services
—
1.6%
$
2,140,000
Uber
Technologies
Inc.,
Ser.
2028,
0.875%,
12/01/28
...............
$
2,364,700
Diversified
Industrial
—
1.7%
1,500,000
Enovix
Corp.,
3.000%,
05/01/28(a)
.............
1,485,312
1,000,000
PureCycle
Technologies
Inc.,
7.250%,
08/15/30
...............
929,005
2,414,317
Energy
and
Utilities
—
20.0%
4,288,000
Array
Technologies
Inc.,
1.000%,
12/01/28
...............
3,135,600
2,000,000
Bloom
Energy
Corp.,
3.000%,
06/01/28
...............
2,765,000
2,000,000
CMS
Energy
Corp.,
3.375%,
05/01/28
...............
2,081,000
350,000
Fluence
Energy
Inc.,
2.250%,
06/15/30(a)
.............
362,600
2,000,000
Fluor
Corp.,
1.125%,
08/15/29
...............
2,523,000
1,700,000
Kosmos
Energy
Ltd.,
3.125%,
03/15/30(a)
.............
1,464,125
3,000,000
Nabors
Industries
Inc.,
1.750%,
06/15/29
...............
2,184,300
3,000,000
Northern
Oil
&
Gas
Inc.,
3.625%,
04/15/29
...............
3,522,750
2,000,000
Ormat
Technologies
Inc.,
2.500%,
07/15/27
...............
1,971,000
3,000,000
PPL
Capital
Funding
Inc.,
2.875%,
03/15/28
...............
3,140,250
1,300,000
Sunnova
Energy
International
Inc.,
2.625%,
02/15/28
...............
494,204
2,500,000
TXNM
Energy
Inc.,
5.750%,
06/01/54(a)
.............
2,906,723
2,450,000
WEC
Energy
Group
Inc.,
4.375%,
06/01/29(a)
.............
2,649,675
29,200,227
Entertainment
—
1.0%
1,810,000
fuboTV
Inc.,
3.250%,
02/15/26
...............
1,411,800
Financial
Services
—
7.3%
900,000
Cleanspark
Inc.,
Zero
Coupon,
06/15/30(a)
.........
751,394
2,000,000
Galaxy
Digital
Holdings
LP,
2.500%,
12/01/29(a)
.............
1,932,600
3,000,000
Global
Payments
Inc.,
1.500%,
03/01/31(a)
.............
2,952,000
750,000
HCI
Group
Inc.,
4.750%,
06/01/42
...............
1,160,250
Bancroft
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2024
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
(Continued)
Financial
Services
(Continued)
$
1,150,000
MARA
Holdings
Inc.,
2.125%,
09/01/31(a)
.............
$
1,236,250
1,500,000
SoFi
Technologies
Inc.,
1.250%,
03/15/29
...............
2,652,000
10,684,494
Health
Care
—
13.1%
3,000,000
Amphastar
Pharmaceuticals
Inc.,
2.000%,
03/15/29
...............
2,806,800
2,000,000
ANI
Pharmaceuticals
Inc.,
2.250%,
09/01/29(a)
.............
2,030,000
1,000,000
Enovis
Corp.,
3.875%,
10/15/28
...............
1,061,000
1,625,000
Evolent
Health
Inc.,
3.500%,
12/01/29
...............
1,382,225
2,250,000
Exact
Sciences
Corp.,
2.000%,
03/01/30
...............
2,318,625
1,200,000
Halozyme
Therapeutics
Inc.,
1.000%,
08/15/28
...............
1,297,097
940,000
Invacare
Corp.,
Escrow,
Zero
Coupon,
05/08/28(c)
.........
0
2,150,000
Jazz
Investments
I
Ltd.,
3.125%,
09/15/30(a)
.............
2,324,150
1,250,000
Pacira
BioSciences
Inc.,
2.125%,
05/15/29(a)
.............
1,078,125
3,400,000
Sarepta
Therapeutics
Inc.,
1.250%,
09/15/27
...............
3,741,700
1,000,000
TransMedics
Group
Inc.,
1.500%,
06/01/28
...............
1,035,122
19,074,844
Metals
and
Mining
—
2.2%
1,100,000
Centrus
Energy
Corp.,
2.250%,
11/01/30(a)
.............
1,045,660
2,150,000
MP
Materials
Corp.,
3.000%,
03/01/30(a)
.............
2,223,960
3,269,620
Real
Estate
Investment
Trusts
—
3.9%
2,350,000
Digital
Realty
Trust
LP,
1.875%,
11/15/29(a)
.............
2,432,250
3,000,000
Redfin
Corp.,
0.500%,
04/01/27
...............
2,328,900
1,000,000
Redwood
Trust
Inc.,
7.750%,
06/15/27
...............
983,971
5,745,121
Security
Software
—
3.1%
4,350,000
Cardlytics
Inc.,
4.250%,
04/01/29(a)
.............
2,454,639
Principal
Amount
Market
Value
$
2,175,000
Rapid7
Inc.,
1.250%,
03/15/29
...............
$
2,067,664
4,522,303
Semiconductors
—
9.1%
indie
Semiconductor
Inc.
3,000,000
4.500%,
11/15/27
...............
2,746,500
500,000
3.500%,
12/15/29(a)
.............
522,750
2,500,000
MKS
Instruments
Inc.,
1.250%,
06/01/30(a)
.............
2,432,500
3,000,000
ON
Semiconductor
Corp.,
0.500%,
03/01/29
...............
2,835,750
3,150,000
OSI
Systems
Inc.,
2.250%,
08/01/29(a)
.............
3,407,985
3,125,000
Wolfspeed
Inc.,
1.875%,
12/01/29
...............
1,310,625
13,256,110
Telecommunications
—
1.2%
1,700,000
Applied
Digital
Corp.,
2.750%,
06/01/30(a)
.............
1,771,556
TOTAL
CONVERTIBLE
CORPORATE
BONDS
....................
124,630,808
Shares
CONVERTIBLE
PREFERRED
STOCKS
—
0.4%
Business
Services
—
0.0%
809,253
Amerivon
Holdings
LLC,
4.000%(c)
....................
0
272,728
Amerivon
Holdings
LLC,
common
equity
units
(c)
..........................
3
3
Health
Care
—
0.4%
28,911
Invacare
Holdings
Corp.,
Ser.
A,
9.000%
......................
636,042
TOTAL
CONVERTIBLE
PREFERRED
STOCKS
...................
636,045
MANDATORY
CONVERTIBLE
SECURITIES(d)
—
11.5%
Aerospace
and
Defense
—
1.0%
25,050
The
Boeing
Co.,
6.000%,
10/15/27
...............
1,525,294
Computer
Software
and
Services
—
1.2%
27,000
Hewlett
Packard
Enterprise
Co.,
7.625%,
09/01/27
...............
1,693,170
Diversified
Industrial
—
1.6%
33,600
Chart
Industries
Inc.,
Ser.
B,
6.750%,
12/15/25
...............
2,368,128
Bancroft
Fund
Ltd.
Schedule
of
Investments
(Continued)
—
December
31,
2024
(Unaudited)
(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)
At
December
31,
2024,
the
Fund
held
an
investment
in
a
restricted
and
illiquid
security
amounting
to
$2,450,075
or
1.68%
of
total
investments,
which
was
valued
under
methods
approved
by
the
Board
of
Trustees
as
follows:
(c)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(d)
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.
Shares
Market
Value
MANDATORY
CONVERTIBLE
SECURITIES(d)
(Continued)
Energy
and
Utilities
—
2.9%
44,000
NextEra
Energy
Inc.,
7.234%,
11/01/27
...............
$
2,006,400
44,800
PG&E
Corp.,
Ser.
A,
6.000%,
12/01/27
...............
2,230,592
4,236,992
Financial
Services
—
1.8%
47,000
Ares
Management
Corp.,
Ser.
B,
6.750%,
10/01/27
...............
2,586,880
Health
Care
—
1.3%
30,000
BrightSpring
Health
Services
Inc.,
6.750%,
02/01/27
...............
1,878,000
Specialty
Chemicals
—
1.7%
60,000
Albemarle
Corp.,
7.250%,
03/01/27
...............
2,441,400
TOTAL
MANDATORY
CONVERTIBLE
SECURITIES
................
16,729,864
COMMON
STOCKS
—
0.0%
Health
Care
—
0.0%
12,938
Invacare
Holdings
Corp.†(c)
..........
0
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
2.7%
$
3,977,000
U.S.
Treasury
Bills,
4.264%
to
4.273%††,
03/13/25
to
03/20/25
......................
3,943,376
TOTAL
INVESTMENTS
—
100.0%
....
(Cost
$148,248,165)
.............
$
145,940,093
Acquisition
Principal
Amount
Issuer
Acquisition
Dates
Acquisition
Cost
12/31/24
Carrying
Value
Per
Bond
$2,300,000
Alibaba
Group
Holding
Ltd.,
0.500%,
06/01/31
05/23/2024-
11/26/2024
$2,482,786
$106.5250
Bancroft (AMEX:BCV-A)
Graphique Historique de l'Action
De Fév 2025 à Mar 2025
Bancroft (AMEX:BCV-A)
Graphique Historique de l'Action
De Mar 2024 à Mar 2025
