BRIDGES INVESTMENT FUND, INC. | ||||
SCHEDULE OF INVESTMENTS | ||||
SEPTEMBER 30, 2022 | ||||
(Unaudited) |
Title of Security | Shares | Cost | Value | |||||
COMMON STOCKS - 99.48% | ||||||||
Administrative and Support Services - 13.88% | ||||||||
MasterCard, Inc. - Class A | 44,000 | $ | 725,399 | $ | 12,510,960 | |||
PayPal Holdings, Inc.(a) | 35,000 | 871,561 | 3,012,450 | |||||
TransUnion | 44,500 | 3,683,029 | 2,647,305 | |||||
Visa, Inc. - Class A | 38,000 | 1,061,121 | 6,750,700 | |||||
6,341,110 | 24,921,415 | |||||||
Ambulatory Health Care Services - 1.15% | ||||||||
Alcon, Inc. - ADR | 35,500 | 2,087,585 | 2,065,390 | |||||
Broadcasting (except Internet) - 0.62% | ||||||||
Cable One, Inc. | 1,300 | 1,810,451 | 1,108,965 | |||||
Building Material and Garden Equipment and Supplies Dealers - 3.67% | ||||||||
Home Depot, Inc. | 13,000 | 1,941,152 | 3,587,220 | |||||
Lowe's Companies, Inc. | 16,000 | 1,631,716 | 3,004,960 | |||||
3,572,868 | 6,592,180 | |||||||
Chemical Manufacturing - 0.34% | ||||||||
The Sherwin-Williams Co. | 3,000 | 711,670 | 614,250 | |||||
Computer and Electronic Product Manufacturing - 25.33% | ||||||||
Alphabet, Inc. - Class A(a) | 80,000 | 847,060 | 7,652,000 | |||||
Alphabet, Inc. - Class C(a) | 80,200 | 844,083 | 7,711,230 | |||||
Apple, Inc. | 156,000 | 613,733 | 21,559,200 | |||||
NVIDIA Corp. | 37,000 | 2,105,830 | 4,491,430 | |||||
Thermo Fisher Scientific, Inc. | 8,000 | 1,773,523 | 4,057,520 | |||||
6,184,229 | 45,471,380 | |||||||
Credit Intermediation and Related Activities - 4.89% | ||||||||
JPMorgan Chase & Co. | 30,000 | 1,721,192 | 3,135,000 | |||||
SVB Financial Group(a) | 12,000 | 2,426,972 | 4,029,360 | |||||
Wells Fargo & Co. | 40,000 | 1,439,136 | 1,608,800 | |||||
5,587,300 | 8,773,160 | |||||||
Electrical Equipment, Appliance, and Component Manufacturing - 0.40% | ||||||||
Generac Holdings, Inc.(a) | 4,000 | 1,104,888 | 712,560 | |||||
Fabricated Metal Product Manufacturing - 0.11% | ||||||||
BWX Technologies, Inc. | 4,000 | 224,335 | 201,480 | |||||
Food Services and Drinking Places - 0.68% | ||||||||
Casey's General Stores, Inc. | 6,000 | 989,889 | 1,215,120 | |||||
Health and Personal Care Stores - 0.67% | ||||||||
Ulta Beauty, Inc.(a) | 3,000 | 1,109,837 | 1,203,570 | |||||
Insurance Carriers and Related Activities - 8.56% | ||||||||
Berkshire Hathaway, Inc. - Class B(a) | 20,000 | 678,649 | 5,340,400 | |||||
The Progressive Corp. | 30,000 | 2,368,209 | 3,486,300 | |||||
UnitedHealth Group, Inc. | 13,000 | 3,145,097 | 6,565,520 | |||||
6,191,955 | 15,392,220 | |||||||
Merchant Wholesalers, Durable Goods - 1.14% | ||||||||
IAA, Inc.(a) | 64,000 | 2,640,028 | 2,038,400 | |||||
Miscellaneous Manufacturing - 1.67% | ||||||||
Edwards Lifesciences Corp.(a) | 26,000 | 1,872,067 | 2,148,380 | |||||
Intuitive Surgical, Inc.(a) | 4,500 | 1,067,051 | 843,480 | |||||
2,939,118 | 2,991,860 | |||||||
Nonstore Retailers - 6.29% | ||||||||
Amazon.com, Inc.(a) | 100,000 | 1,231,664 | 11,300,000 | |||||
Oil and Gas Extraction - 0.87% | ||||||||
EOG Resources, Inc. | 14,000 | 1,529,436 | 1,564,220 | |||||
Other Information Services - 2.08% | ||||||||
Meta Platforms, Inc. - Class A(a) | 27,500 | 3,597,112 | 3,731,200 | |||||
Plastics and Rubber Products Manufacturing - 0.48% | ||||||||
AptarGroup, Inc. | 9,000 | 1,044,151 | 855,270 | |||||
Professional, Scientific & Technical Services - 4.18% | ||||||||
IQVIA Holdings, Inc.(a) | 3,250 | 616,405 | 588,705 | |||||
Palo Alto Networks, Inc.(a) | 33,000 | 2,379,070 | 5,405,070 | |||||
ServiceNow, Inc.(a) | 4,000 | 2,057,391 | 1,510,440 | |||||
5,052,866 | 7,504,215 | |||||||
Publishing Industries (except Internet) - 9.79% | ||||||||
Adobe, Inc.(a) | 12,000 | 3,463,759 | 3,302,400 | |||||
Microsoft Corp. | 52,000 | 6,470,467 | 12,110,800 | |||||
Salesforce.com, Inc.(a) | 15,000 | 2,246,082 | 2,157,600 | |||||
12,180,308 | 17,570,800 | |||||||
Rail Transportation - 2.18% | ||||||||
Union Pacific Corp. | 20,050 | 606,981 | 3,906,141 | |||||
Real Estate - 0.66% | ||||||||
American Tower Corp. | 5,500 | 1,235,930 | 1,180,850 | |||||
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 6.66% | ||||||||
BlackRock, Inc. | 5,000 | 1,435,942 | 2,751,400 | |||||
Chemed Corp. | 3,800 | 1,779,811 | 1,658,928 | |||||
Intercontinental Exchange, Inc. | 20,000 | 1,965,672 | 1,807,000 | |||||
S&P Global, Inc. | 13,000 | 2,334,390 | 3,969,550 | |||||
Texas Pacific Land Corp. | 1,000 | 810,904 | 1,777,230 | |||||
8,326,719 | 11,964,108 | |||||||
Truck Transportation - 3.18% | ||||||||
Old Dominion Freight Line, Inc. | 23,000 | 2,127,790 | 5,721,710 | |||||
TOTAL COMMON STOCKS | 78,428,220 | 178,600,464 | ||||||
SHORT-TERM INVESTMENTS - 0.70% | ||||||||
Mutual Funds - 0.70% | ||||||||
First American Treasury Obligations Fund - Class X 2.87% (b) | 1,263,203 | 1,263,203 | 1,263,203 | |||||
TOTAL SHORT-TERM INVESTMENTS | 1,263,203 | 1,263,203 | ||||||
TOTAL INVESTMENTS - 100.18% | 79,691,423 | 179,863,667 | ||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.18)% | (331,688) | |||||||
TOTAL NET ASSETS - 100.00% | $ | 179,531,979 | ||||||
ADR | American Depository Receipt | |||||||
Percentages are stated as a percent of net assets. | ||||||||
(a) | Non Income Producing. | |||||||
(b) | The rate shown is the annualized seven day yield as of September 30, 2022. | |||||||
The accompanying notes are an integral part of the Schedule of Investments. |
Notes to Schedule of Investments | ||||||
Financial Accounting Standards Board ("FASB") accounting standards codification "Fair Value Measurements and Disclosures" Topic 820 ("ASC 820"), | ||||||
establishes an authoritative definition of fair value and sets out a hierarchy for measuring fair value. ASC 820 requires additional disclosures about the | ||||||
various inputs used to develop the measurements of fair value. These inputs are summarized in the three broad levels listed below: | ||||||
• Level 1 - Unadjusted quoted prices in active markets for identical investments. | ||||||
• Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. | ||||||
These inputs may include quoted prices for the identical instrument on an inactive market, prices of similar instruments, interest rates, | ||||||
prepayment speeds, credit risk, yield curves, default rates and similar data. | ||||||
• Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own | ||||||
assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. | ||||||
The valuation techniques used by the Fund to measure fair value for the nine months ended September 30, 2022 maximized the use of | ||||||
observable inputs and minimized the use of unobservable inputs. During the nine months ended September 30, 2022, no securities | ||||||
held by the Fund were deemed as Level 3. | ||||||
The following is a summary of the inputs used as of September 30, 2022, in valuing the Fund's investments carried at fair value: |
Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Investments | ||||||||||||||||
Common Stocks | $ | 178,600,464 | $ | - | $ | - | $ | 178,600,464 | ||||||||
Short-Term Investments | 1,263,203 | - | - | 1,263,203 | ||||||||||||
Total Investments in Securities | $ | 179,863,667 | $ | - | $ | - | $ | 179,863,667 | ||||||||
Refer to the Schedule of Investments for further information on the classification of investments. |