bridges_nq.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number 811-01209

Bridges Investment Fund, Inc.

(Exact name of registrant as specified in charter)

8401 West Dodge Road, Suite 256

Omaha, Nebraska 68114

(Address of principal executive offices) (Zip code)

Edson L. Bridges III

8401 West Dodge Road, Suite 256

Omaha, Nebraska 68114

(Name and address of agent for service)

(402) 397-4700

Registrant's telephone number, including area code

Date of fiscal year end: December 31, 2014

Date of reporting period: March 31, 2014

Item 1. Schedule of Investments.

BRIDGES INVESTMENT FUND, INC.

SCHEDULE OF INVESTMENTS

MARCH 31, 2014
(Unaudited)

Title of Security		Shares		Cost		Value
COMMON STOCKS - 88.51%
Ambulatory Health Care Services - 0.98%
	DaVita Healthcare Partners, Inc. (a)		16,000	$	961,035	$	1,101,600
Amusement, Gambling, and Recreation Industries - 2.86%
	Las Vegas Sands Corp.		10,000		811,789		807,800
	The Walt Disney Co.		30,000		1,453,852		2,402,100
					2,265,641		3,209,900
Beverage and Tobacco Product Manufacturing - 3.60%
	Altria Group, Inc.		35,000		823,041		1,310,050
	PepsiCo, Inc.		13,000		632,331		1,085,500
	Philip Morris International, Inc.		20,000		782,617		1,637,400
					2,237,989		4,032,950
Broadcasting (except Internet) - 4.03%
	Comcast Corp. - Class A Special Common Stock		30,000		1,381,050		1,462,800
	DIRECTV (a)		40,000		1,657,230		3,056,800
					3,038,280		4,519,600
Chemical Manufacturing - 6.29%
	Actavis Plc (a)		15,000		2,160,151		3,087,751
	Ecolab, Inc.		10,000		891,864		1,079,900
	Gilead Sciences, Inc. (a)		13,000		1,054,391		921,180
	Johnson & Johnson		10,000		866,300		982,300
	Perrigo Company Plc		3,000		482,200		463,980
	Valeant Pharmaceuticals International, Inc. (a)		4,000		578,472		527,320
					6,033,378		7,062,431
Computer and Electronic Product Manufacturing - 8.56%
	Apple, Inc.		11,000		1,283,013		5,904,140
	QUALCOMM, Inc.		47,000		1,972,037		3,706,420
					3,255,050		9,610,560
Couriers and Messengers - 0.87%
	United Parcel Service, Inc. - Class B		10,000		671,348		973,800
Credit Intermediation and Related Activities - 7.89%
	Capital One Financial Corp.		50,000		1,579,085		3,858,000
	JPMorgan Chase & Co.		25,000		1,383,242		1,517,750
	Wells Fargo & Co.		70,000		1,821,947		3,481,800
					4,784,274		8,857,550
Food Services and Drinking Places - 2.55%
	McDonald's Corp.		18,000		1,409,408		1,764,540
	Starbucks Corp.		15,000		561,001		1,100,700
					1,970,409		2,865,240
Health and Personal Care Stores - 3.21%
	Express Scripts Holding Co. (a)		48,000		1,210,860		3,604,320
Heavy and Civil Engineering Construction - 2.56%
	Chicago Bridge & Iron Co. N. V.		33,000		1,219,884		2,875,950
Insurance Carriers and Related Activities - 2.23%
	Berkshire Hathaway, Inc. - Class B (a)		20,000		678,649		2,499,400
Machinery Manufacturing - 3.90%
	Caterpillar, Inc.		15,000		945,046		1,490,550
	General Electric Co.		50,000		746,325		1,294,500
	Roper Industries, Inc.		12,000		547,802		1,602,120
					2,239,173		4,387,170
Nonstore Retailers - 2.77%
	Amazon.com, Inc. (a)		3,500		565,147		1,177,820
	eBay, Inc. (a)		35,000		1,476,391		1,933,400
					2,041,538		3,111,220
Oil and Gas Extraction - 3.72%
	Anadarko Petroleum Corp.		20,000		1,335,558		1,695,200
	Apache Corp.		15,000		1,188,510		1,244,250
	Continental Resources, Inc. (a)		10,000		1,141,409		1,242,700
					3,665,477		4,182,150
Other Information Services - 3.97%
	Google, Inc. - Class A (a)		4,000		1,691,413		4,458,040
Petroleum and Coal Products Manufacturing - 2.12%
	Chevron Corp.		20,000		1,010,364		2,378,200
Professional, Scientific, and Technical Services - 14.47%
	Biogen Idec, Inc. (a)		2,500		518,357		764,675
	Celgene Corp. (a)		21,000		1,805,456		2,931,600
	Cognizant Technology Solutions Corp. - Class A (a)		24,000		793,243		1,214,640
	Mastercard, Inc.		75,000		1,337,065		5,602,500
	priceline.com, Inc. (a)		3,000		1,696,423		3,575,670
	Visa, Inc. - Class A		10,000		745,136		2,158,600
					6,895,680		16,247,685

Rail Transportation - 4.51%
	Union Pacific Corp.		27,000		1,725,558			5,066,820
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 3.34%
	Blackrock, Inc.		8,000		1,783,768			2,515,840
	T. Rowe Price Group, Inc.		15,000		725,747			1,235,250
					2,509,515			3,751,090
Support Activities for Mining - 1.74%
	Schlumberger Ltd.		20,000		1,607,823			1,950,000
Transportation Equipment Manufacturing - 2.34%
	Eaton Corp. Plc		35,000		1,816,696			2,629,200

TOTAL COMMON STOCKS				$	53,530,034		$	99,374,876

EXCHANGE TRADED FUNDS - 9.06%
Funds, Trusts, and Other Financial Vehicles - 9.06%
	iShares Core S&P Mid-Cap ETF		40,000	$	3,684,766		$	5,498,400
	iShares Core S&P Small-Cap ETF		35,000		2,407,647			3,854,900
	iShares MSCI Emerging Markets ETF		20,000		827,798			819,800

TOTAL EXCHANGE TRADED FUNDS				$	6,920,211		$	10,173,100

		Principal
		Amount		Cost			Value
CORPORATE BONDS - 0.93%
Broadcasting (except Internet) - 0.20%
	Comcast Corp.
	6.500%, 01/15/2017	$	200,000	$	199,592		$	228,340
Building Material and Garden Equipment and Supplies Dealers - 0.19%
	Home Depot, Inc.
	5.400%, 03/01/2016		200,000		193,664			217,892
Funds, Trusts, and Other Financial Vehicles - 0.28%
	Spectra Energy Capital, LLC
	8.000%, 10/01/2019		250,000		262,769			306,330
Machinery Manufacturing - 0.26%
	Applied Materials, Inc.
	7.125%, 10/15/2017		250,000		252,136			294,631

TOTAL CORPORATE BONDS				$	908,161		$	1,047,193

		Shares		Cost			Value
SHORT-TERM INVESTMENTS - 1.57%
Mutual Fund - 1.57%
	SEI Daily Income Trust Treasury Fund, 0.01% (b)		1,757,255	$	1,757,255		$	1,757,255

TOTAL SHORT-TERM INVESTMENTS				$	1,757,255		$	1,757,255

TOTAL INVESTMENTS - 100.07%				$	63,115,661			112,352,424
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.07)%								(82,122	)
TOTAL NET ASSETS - 100.00%							$	112,270,302


Percentages are stated as a percent of the value of net assets.

(a)	Non Income Producing
(b)	Variable rate security; the rate shown is the effective date as of March 31, 2014.

The cost basis of investments for federal income tax purposes at March 31, 2014 was as follows:1

Cost of Investments				$	63,115,661

Gross unrealized appreciation					49,451,333
Gross unrealized depreciation					(214,570	)
Net unrealized appreciation				$	49,236,763

1Because tax adjustments are calculated annually, the above table does not reflect tax adjustments. For the previous fiscal year's federal income tax
information, please refer to the Notes to Financial Statements section in the Fund's most recent semi-annual or annual report.

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 three months ended March 31, 2014 maximized the use of
observable inputs and minimized the use of unobservable inputs. During the three months ended March 31, 2014, no securities
held by the Fund were deemed as Level 3.

The following is a summary of the inputs used as of March 31, 2014 in valuing the Fund's investments carried at fair value:

	Description	Level 1		Level 2	Level 3		Total

Investments
	Common Stock	$	99,374,876	$ -	$	-	$	99,374,876
	Exchange Traded Funds		10,173,100	-		-		10,173,100
	Corporate Bonds		-	1,047,193		-		1,047,193
	Short-Term Investments		1,757,255	-		-		1,757,255
Total Investments in Securities		$	111,305,231	$ 1,047,193	$	-	$	112,352,424

There were no transfers between Levels 1 and 2 during the period ended March 31, 2014. Transfers between levels are recognized
at the end of the reporting period. Refer to the Schedule of Investments for further information on the classification of investments.

Item 2. Controls and Procedures.

(a)

The Registrant’s President/Chief Executive Officer and Treasurer/Chief Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)).

(b)

There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)). Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Bridges Investment Fund, Inc.

By (Signature and Title) /s/ Edson L. Bridges III

Edson L. Bridges III, President and

Chief Executive and Investment Officer

Date 5/14/2014

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)* /s/ Edson L. Bridges III

Edson L. Bridges III, President and

Chief Executive and Investment Officer

Date 5/14/2014

By (Signature and Title)* /s/ Brian Kirkpatrick

Brian Kirkpatrick, Executive Vice President

Date 5/14/2014

By (Signature and Title)* /s/ Nancy K. Dodge

Nancy K. Dodge, Treasurer and

Chief Compliance Officer

Date 5/14/2014

* Print the name and title of each signing officer under his or her signature.

CERTIFICATION

I, Edson L. Bridges III, certify that:

1.	I have reviewed this report on Form N-Q of Bridges Investment Fund, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940)for the registrant and have:

(a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation;

(d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: 5/14/2014	/s/ Edson L. Bridges III
	Edson L. Bridges III President and Chief Executive and Investment Officer

CERTIFICATION

I, Brian Kirkpatrick, certify that:

1.	I have reviewed this report on Form N-Q of Bridges Investment Fund, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

(a)

(b)

(c)

(d)

5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: 5/14/2014	/s/ Brian Kirkpatrick
	Brian Kirkpatrick Executive Vice President

CERTIFICATION

I, Nancy K. Dodge, certify that:

1.	I have reviewed this report on Form N-Q of Bridges Investment Fund, Inc.;

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

(a)

(b)

(c)

(d)

5.	The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a)

(b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: 5/14/2014	/s/ Nancy K. Dodge
	Nancy K. Dodge Treasurer and Chief Compliance Officer