NPORT-EX 2 bridges-partf.htm NPORT-EX
 
BRIDGES INVESTMENT FUND, INC.
 
SCHEDULE OF INVESTMENTS
 
MARCH 31, 2021
(unaudited)

Title of Security
Shares
    
Cost
    
Value
COMMON STOCKS - 96.63%
              
Administrative and Support Services - 17.97%
              
 
Booking Holdings, Inc.(a)
                   2,000
   $
        1,459,049
   $
          4,659,680
 
MasterCard, Inc. - Class A
                 50,000
    
               820,627
    
          17,802,500
 
PayPal Holdings, Inc.(a)
                 35,000
    
               871,561
    
            8,499,400
 
Terminix Global Holdings, Inc.(a)
                 30,000
    
               905,892
    
            1,430,100
 
TransUnion
                 34,500
    
            2,857,315
    
            3,105,000
 
Visa, Inc. - Class A
                 40,000
    
            1,087,479
    
            8,469,200
         
            8,001,923
    
          43,965,880
Ambulatory Health Care Services - 1.02%
              
 
Alcon, Inc. - ADR (a)
                 35,500
    
            2,087,585
    
            2,491,390
Broadcasting (except Internet) - 1.92%
              
 
The Walt Disney Co.(a)
                 25,500
    
            1,411,161
    
            4,705,260
Building Material and Garden Equipment and Supplies Dealers - 2.87%
              
 
Home Depot, Inc.
                 13,000
    
            1,941,152
    
            3,968,250
 
Lowe's Companies, Inc.
                 16,000
    
            1,631,716
    
            3,042,880
         
            3,572,868
    
            7,011,130
Chemical Manufacturing - 1.61%
              
 
Ecolab, Inc.
                 15,000
    
            1,436,988
    
            3,211,050
 
The Sherwin-Williams Co.
                   1,000
    
               711,670
    
               738,010
         
            2,148,658
    
            3,949,060
Computer and Electronic Product Manufacturing - 20.60%
              
 
Alphabet, Inc. - Class A(a)
                   4,000
    
               847,060
    
            8,250,080
 
Alphabet, Inc. - Class C(a)
                   4,010
    
               844,083
    
            8,295,206
 
Apple, Inc.
               177,000
    
               739,033
    
          21,620,551
 
NVIDIA Corp.
                 10,000
    
            2,316,828
    
            5,339,300
 
Roper Technologies, Inc.
                   8,000
    
               335,931
    
            3,226,720
 
Thermo Fisher Scientific, Inc.
                   8,000
    
            1,773,523
    
            3,651,040
         
            6,856,458
    
          50,382,897
Credit Intermediation and Related Activities - 5.49%
              
 
JPMorgan Chase & Co.
                 30,000
    
            1,721,192
    
            4,566,900
 
SVB Financial Group(a)
                 12,000
    
            2,426,971
    
            5,923,920
 
Wells Fargo & Co.
                 75,000
    
            2,190,904
    
            2,930,250
         
            6,339,067
    
          13,421,070
Data Processing, Hosting and Related Services - 0.97%
              
 
Fiserv, Inc.(a)
                 20,000
    
               971,166
    
            2,380,800
Electrical Equipment, Appliance, and Component Manufacturing - 1.13%
              
 
Eaton Corp. Plc -
                 20,000
    
               834,912
    
            2,765,600
Fabricated Metal Product Manufacturing - 0.74%
              
 
BWX Technologies, Inc.
                 27,500
    
            1,642,328
    
            1,813,350
Food Services and Drinking Places - 1.87%
              
 
Casey's General Stores, Inc.
                   6,000
    
               989,889
    
            1,297,140
 
Starbucks Corp.
                 30,000
    
               561,001
    
            3,278,100
         
            1,550,890
    
            4,575,240
Insurance Carriers and Related Activities - 4.85%
              
 
Berkshire Hathaway, Inc. - Class B(a)
                 20,000
    
               678,649
    
            5,109,400
 
The Progressive Corp.
                 20,000
    
            1,409,657
    
            1,912,200
 
UnitedHealth Group, Inc.
                 13,000
    
            3,145,098
    
            4,836,910
         
            5,233,404
    
          11,858,510
Merchant Wholesalers, Durable Goods - 1.44%
              
 
IAA, Inc.(a)
                 64,000
    
            2,671,243
    
            3,528,960
Miscellaneous Manufacturing - 0.89%
              
 
Edwards Lifesciences Corp.(a)
                 26,000
    
            1,872,066
    
            2,174,640
Nonstore Retailers - 6.32%
              
 
Amazon.com, Inc.(a)
                   5,000
    
            1,231,664
    
          15,470,400
Other Information Services - 3.31%
              
 
Facebook, Inc. - Class A(a)
                 27,500
    
            3,597,112
    
            8,099,575
Professional, Scientific & Technical Services - 1.71%
              
 
IQVIA Holdings, Inc.(a)
                   3,250
    
               616,405
    
               627,705
 
Palo Alto Networks, Inc.(a)
                 11,000
    
            2,379,071
    
            3,542,660
         
            2,995,476
    
            4,170,365
Publishing Industries (except Internet) - 10.12%
              
 
Adobe, Inc.(a)
                 12,000
    
            3,463,758
    
            5,704,440
 
Autodesk, Inc.(a)
                 13,000
    
            1,985,801
    
            3,602,950
 
Microsoft Corp.
                 52,000
    
            6,470,467
    
          12,260,040
 
salesforce.com, Inc.(a)
                 15,000
    
            2,246,082
    
            3,178,050
         
          14,166,108
    
          24,745,480
Rail Transportation - 2.52%
              
 
Union Pacific Corp.
                 28,000
    
               806,918
    
            6,171,480
Real Estate - 0.54%
              
 
American Tower Corp.
                   5,500
    
            1,235,930
    
            1,314,830
                 
Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 6.38%
              
 
BlackRock, Inc.
                   8,500
    
            2,223,080
    
            6,408,660
 
Intercontinental Exchange, Inc.
                 27,000
    
            2,654,242
    
            3,015,360
 
S&P Global, Inc.
                 13,000
    
            2,334,390
    
            4,587,310
 
Texas Pacific Land Corp.
                   1,000
    
               810,904
    
            1,589,430
         
            8,022,616
    
          15,600,760
Truck Transportation - 2.36%
              
 
Old Dominion Freight Line, Inc.
                 24,000
    
            2,220,361
    
            5,769,840
 
TOTAL COMMON STOCKS (Cost $79,469,914)
      
          79,469,914
    
        236,366,517
                 
 
Shares
    
Cost
    
Value
SHORT-TERM INVESTMENTS - 3.53%
              
Funds, Trusts, and Other Financial Vehicles - 3.53%
              
 
First American Treasury Obligations Fund - Class X 0.03%(b)
            8,638,653
    
            8,638,653
    
            8,638,653
                 
 
TOTAL SHORT-TERM INVESTMENTS (Cost $8,638,653)
      
            8,638,653
    
            8,638,653
                 
TOTAL INVESTMENTS - 100.16%
            
        245,005,170
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.16)%
            
             (394,044)
TOTAL NET ASSETS - 100.00%
           $
      244,611,126
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 March 31, 2021.
              
 
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 three months ended March 31, 2021 maximized the use of observable inputs and minimized the use of unobservable inputs.  During the three months ended March 31, 2021, no securities held by
the Fund were deemed as Level 3.

The following is a summary of the inputs used as of March 31, 2021, in valuing the Fund's investments carried at fair value:
      

Description
  
Level 1
    
Level 2
    
Level 3
    
Total
  
                         
Investments
                        
Common Stocks
  
$
236,366,517
    
$
-
    
$
-
    
$
236,366,517
  
Short-Term Investments
    
8,638,653
      
-
      
-
      
8,638,653
  
Total Investments in Securities
  
$
245,005,170
    
$
-
    
$
-
    
$
245,005,170
  
                                 
Refer to the Schedule of Investments for further information on the classification of investments.