MORRISTOWN, NJ--(Marketwired - Jul 25, 2014) - Ellsworth Fund Ltd. (NYSE MKT: ECF) today reported earnings, financial highlights and certain portfolio information for the nine months ended June 30, 2014:
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| EARNINGS REPORT |
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Nine Months Ended |
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June 30 |
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2014 |
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2013 |
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| Net Income |
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$1,492,000 |
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$1,901,000 |
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Per Share |
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$0.11 |
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$0.14 |
| Shares Outstanding |
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13,140,692 |
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13,507,882 |
| Total Net Assets |
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$138,330,000 |
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$122,455,000 |
| Net Asset Value Per Share |
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$10.53 |
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$9.07 |
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| FUND STATISTICS |
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| Market price |
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$8.83 |
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| Net asset value (NAV) |
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$10.53 |
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| Premium/(Discount) |
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(16.14 |
)% |
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| Total Net Assets |
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$138,330,000 |
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| 12-Month income distribution |
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$0.240 |
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| Yield on market price |
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2.7 |
% |
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| Ratio of expenses (annualized) |
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1.1 |
% |
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| Ratio of net income (annualized) |
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1.5 | % |
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| Portfolio turnover |
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42 |
% |
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| Shares outstanding |
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13,140,692 |
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| TOP TEN HOLDINGS |
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by underlying common stock |
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% of Net Assets |
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| Gilead Sciences, Inc. |
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2.4 |
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| United Technologies Corp. |
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1.9 |
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| AT&T Inc. |
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1.8 |
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| Iconix Brand Group, Inc. |
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1.8 |
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| ConocoPhillips |
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1.7 |
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| NextEra Energy, Inc. |
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1.7 |
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| Intel Corp. |
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1.6 |
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| Micron Technology, Inc. |
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1.6 |
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| Illumina, Inc. |
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1.5 |
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| The Priceline Group Inc. |
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1.5 |
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| Sector Weightings |
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% of Net Assets |
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| Consumer Discretionary |
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9.7 |
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| Consumer Staples |
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4.7 |
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| Energy |
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7.2 |
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| Financials |
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19.4 |
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| Health Care |
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16.7 |
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| Industrials |
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7.7 |
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| Information Technology |
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22.7 |
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| Materials |
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2.0 |
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| Telecommunication Services |
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6.4 |
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| Utilities |
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2.8 |
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| ASSET ALLOCATION |
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% of Net Assets |
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| Convertible Bonds & Notes |
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53.6 |
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| Convertible Preferred Stock |
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10.0 |
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| Mandatory Convertible Securities |
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9.5 |
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| Common Stock |
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26.1 |
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| Cash & Equivalents |
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0.8 |
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Data is unaudited and as of June 30, 2014. This selected information should be read in
conjunction with the financial statements and notes included in the Company's
Semi-Annual Report to Shareholders for the six months ended March 31, 2014.
Detailed portfolio information is available on our website (www.ellsworthfund.com).
Contact us by email at info@ellsworthfund.com or call us at (973) 631-1177.
Ellsworth Fund Ltd. operates as a closed-end, diversified management investment company
and invests primarily in convertible securities, with the objectives of providing income and
the potential for capital appreciation; which objectives the Fund considers to be relatively
equal, over the long-term, due to the nature of the securities in which it invests.
Its shares are traded on the NYSE MKT LLC under the ticker symbol ECF.
Cusip 289074106