ECF - Ellsworth Growth & Income Fund Ltd

What this means for you

Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Email me if this changes

What happened, and when

1. Nov 10, 2025

   Saba raised its stake to 12.3% (from 11.3%). It has said it may push for changes.

   Original document →

2. July 7, 2025

   Sit Investment now owns 5.6%, as a passive investor.

   Original document →

3. April 8, 2025

   Saba raised its stake to 11.3% (from 10.2%). It has said it may push for changes.

   Original document →

4. Aug 6, 2024

   Saba raised its stake to 10.2% (from 9%). It has said it may push for changes.

   Original document →

5. July 19, 2024

   Saba raised its stake to 9% (from 7.6%). It has said it may push for changes.

   Original document →

About this fund

• Run by Gabelli Funds, LLC. Part of the Gabelli Fund Complex fund family. As of Sept 30, 2025, from the fund's yearly report. Original document →
• Size: about $203 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 13% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. About 96% of that is money the fund has borrowed by selling preferred shares. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.8% a year in management fees; 1.2% a year in total, including interest on borrowed money. Fiscal year ended Sept 30, 2025. As of Sept 30, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Sept 30, 2025) the fund paid $0.59 a share. $0.36 of that was income; $0.23 came from gains. As of Sept 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Sept 30, 2025): $13.08. The shares traded at $11.60, about 11.3% below that. As of Sept 30, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 16.3% below to 10.5% below. As of Sept 30, 2025, from the fund's annual report. Original document →
• How the holdings did: up 20.2% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +39.4%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Sept 30, 2025): the value of the holdings returned +34.7%. How the share price did: the shares returned +36.6% over the same year, counting payouts and the change in the market price. As of Sept 30, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 1995.

What the fund holds

Mostly bonds (80%), the rest shares and preferred shares. About 88% issued in the U.S.

1. Hewlett Packard Enterprise Company 7.625% Series C Mandatory Convertible Preferred Stock - 3.3%
2. Broadcom - 3.2%
3. Advanced Micro Devices - 2.9%
4. Brightspring Health Services, Btsg 6.75 02/01/27 - 2.8%
5. Cyberark Software, Cybr 0 06/15/30 - 2.5%
6. Nebius Group NV, Nbis 2.75 09/15/32 - 2.4%
7. United States of America - Bureau of the Public Debt, B 0 09/24/26 - 2.2%
8. Ligand Pharmaceuticals, Lgnd 0.75 10/01/30 - 2.2%
9. Firstenergy, Fe 3.875 01/15/31 - 2.2%
10. Fluor, Flr 1.125 08/15/29 - 2.2%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →