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Us | NAV & Stock Price | Monthly Portfolio Summary Ellsworth Fund Ltd. Announces Earnings and Financial Update
FOR IMMEDIATE RELEASE
Morristown, NJ
January 23, 2008
Cusip 289074106 |
For Information:
Joshua P. Lake
(973) 631-1177 |
Ellsworth Fund Ltd. (AMEX - ECF)
today reported financial highlights and certain portfolio information for the three months
ended December 31, 2007.
| |
Three Months Ended
December 31 |
| Earnings Report |
2007 |
2006 |
| Net Income |
$1,170,000 |
$1,066,000 |
| Per Share |
$0.09 |
$0.08 |
| Shares Outstanding |
13,153,252 |
12,659,098 |
| Total Net Assets |
$122,645,000 |
$121,530,000 |
| Net Asset Value Per Share |
$9.32 |
$9.60 |
| Fund
Statistics as of December 31, 2007 |
|
Top Ten Holdings by underlying common stock as of December 31, 2007 |
|
|
|
|
|
|
|
% of |
| Market price |
|
|
$8.16 |
|
|
|
Net Assets |
| Net asset value
(NAV) |
|
$9.32 |
|
Prudential Financial, Inc. |
3.2 |
| Premium/(Discount) |
|
(12.45)% |
|
LSB Industries, Inc. |
|
3.0 |
| Total Net Assets |
|
$122,645,000 |
|
Bristol-Myers Squibb Co. |
|
2.5 |
| 12-Month income distribution |
$0.3200 |
|
Freeport-McMoRan Copper & Gold Inc. |
2.5 |
| Yield on market price |
|
3.92% |
|
Bristow
Group Inc. |
2.3 |
| Ratio of expenses |
|
1.13%* |
|
The Walt Disney Company |
|
2.3 |
| Ratio of
net income |
|
|
3.78%* |
|
Chesapeake Energy
Corp. |
2.1 |
| Portfolio Turnover |
|
15.49% |
|
Companhia Vale do Rio Doce |
2.1 |
| Shares
outstanding |
|
|
13,153,252 |
|
New York Community Bancorp, Inc. |
2.1 |
| * Annualized |
|
|
|
St. Jude Medical, Inc. |
2.0 |
|
|
|
|
|
|
|
| Major Industry Exposure |
|
|
% of |
|
Portfolio Ratings from Moody's |
|
|
| as of December 31, 2007 |
|
|
Net Assets |
|
as of December 31, 2007 |
|
|
| Energy |
|
|
17.2 |
|
(From S&P when Moody's
is unavailable) |
|
% of
Portfolio |
| Pharmaceuticals |
|
9.0 |
|
Aa |
|
2 |
| Insurance |
|
|
8.5 |
|
A |
|
20 |
| Semiconductors |
|
|
6.4 |
|
Baa |
|
15 |
| Telecommunications |
|
6.3 |
|
Ba |
|
4 |
| Minerals and Mining |
|
|
5.6 |
|
B |
|
20 |
| Computer Hardware |
|
|
5.5 |
|
Caa |
|
4 |
| Consumer Goods |
|
|
5.1 |
|
NR |
|
34 |
| Banking/Savings and Loan |
|
|
4.8 |
|
Common Stock |
|
1 |
| Aerospace and Defense |
|
|
4.5 |
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Allocation |
|
|
% of |
|
|
|
|
| as of December 31, 2007 |
|
|
Net
Assets |
|
|
|
|
| Convertible Bonds & Notes |
|
|
62.2 |
|
|
|
|
| Corporate Bonds & Notes |
|
|
1.2 |
|
|
|
|
| Convertible Preferred Stock |
|
|
9.2 |
|
|
|
|
| Mandatory Convertible Securities |
|
|
24.6 |
|
|
|
|
| Common Stock |
|
|
0.6 |
|
|
|
|
| Short-term Securities |
|
|
1.2 |
|
|
|
|
| Other Assets |
|
|
1.0 |
|
|
|
|
Data is unaudited and as of December 31, 2007. This
selected information should be read in conjunction with the financial statements and notes
included in the Fund's Annual Report to Shareholders for the twelve months ended September
30, 2007.
Detailed portfolio information is available on our website (www.ellsworthfund.com). Contact us by e-mail
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 American Stock Exchange under the ticker
symbol ECF.
|