Davis-Dinsmore Management Company
Morristown, NJ, October 13, 2005 -- Bancroft Convertible Fund, Inc. (BCV) today reported monthly portfolio data for the month ended September 30, 2005. Data is based on market value. Holdings may change without notice.
Top Ten Holdings by underlying common stock
% of Net Assets
Chesapeake Energy Corp. 3.8
The Walt Disney Company 2.9
The St. Paul Travelers Companies, Inc. 2.4
International Rectifier Corp. 2.2
Nuveen Investments, Inc. 2.2
Semco Energy, Inc. 2.2
Washington Mutual, Inc. 2.1
Schering-Plough Corp. 2.0
Tekelec, Inc. 2.0
U.S. Bancorp 2.0
Major Industry Exposure
% of Net Assets
Financial and Insurance 15.0
Energy 13.9
Pharmaceuticals 11.3
Banking/Savings and Loan 9.3
Technology 8.4
Retail 6.2
Telecommunications 5.7
Health Care 4.7
Entertainment 4.2
Chemicals 3.3
Portfolio Composition
% of Net Assets
Convertible Bonds and Notes 52.6
Convertible Preferred Stocks 25.1
Mandatory Convertible Securities 17.1
Cash and Equivalents 5.2
TOTAL NET ASSETS 100.0
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Data is unaudited and as of September 30, 2005. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Stockholders for the six months ended April 30, 2005.
Bancroft is a diversified closed-end management investment company. Bancroft's investment objective is to seek a high level of total return on its assets through a combination of current income and capital appreciation. It seeks to achieve this objective by investing primarily in convertible securities.
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