# EDGAR Filing Document

**Accession Number:** 0000047071
**File Stem:** 0000910472-26-008746
**Filing Date:** 2026-6
**Character Count:** 23232
**Document Hash:** aff688da8a331947f1617bf2aafadb9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008746.hdr.sgml**: 20260601

**ACCESSION NUMBER**: 0000910472-26-008746

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260601

**DATE AS OF CHANGE**: 20260601

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRUCE FUND INC
- **CENTRAL INDEX KEY:** 0000047071

**ORGANIZATION NAME:**
- **EIN:** 066104682
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01528
- **FILM NUMBER:** 261049820

**BUSINESS ADDRESS:**
- **STREET 1:** 20 N WACKER DR
- **STREET 2:** STE 2414
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3122369160

**MAIL ADDRESS:**
- **STREET 1:** 20 N WACKER DR
- **STREET 2:** STE 2414
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HEROLD FUND INC
- **DATE OF NAME CHANGE:** 19831114

## Series and Classes Contracts Data

### BRUCE FUND (Series ID: S000011411)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000031584 | BRUCE FUND   | BRUFX           |

## Nport-Ex

Bruce

Fund,

Inc.

Schedule

of

Investments

March

31,

2026

-

(Unaudited)

COMMON

STOCKS

—

88.9%

Shares

Fair

Value

Communications

—

4.0%

AT&T,

Inc.

450,000

$

13,045,500

Sirius

XM

Holdings,

Inc.

55,784

1,287,495

14,332,995

Consumer

Staples

—

6.1%

Archer-Daniels-Midland

Co.

100,000

7,269,000

Bunge

Global

SA

70,000

8,904,000

Darling

Ingredients,

Inc.

(a) 95,000

5,875,750

22,048,750

Energy

—

0.4%

Venture

Global,

Inc.,

Class

A

100,000

1,576,000

Financials

—

13.1%

AerCap

Holdings

N.V.

(Ireland)

180,000

24,692,400

Allstate

Corp.

(The)

110,000

22,807,400

47,499,800

Health

Care

—

23.8%

908

Devices,

Inc.

(a) 68,286

417,910

Abbott

Laboratories

110,000

11,293,700

AbbVie,

Inc.

100,000

21,748,999

Bausch

Health

Cos.,

Inc.

(Canada)

(a) 50,000

270,000

Beta

Bionics,

Inc.

(a) 550,700

5,518,014

Caribou

Biosciences,

Inc.

(a) 250,000

475,000

EDAP

TMS

SA

-

ADR

(France)

(a) 414,794

1,543,034

Eli

Lilly

&

Co.

2,000

1,839,540

Fate

Therapeutics,

Inc.

(a) 789,188

947,026

Kodiak

Sciences,

Inc.

(a) 145,000

5,527,400

MannKind

Corp.

(a) 195,073

477,929

Merck

&

Co.,

Inc.

180,000

21,652,200

Personalis

,

Inc.

(a) 233,000

1,484,210

Pfizer,

Inc.

250,000

7,020,000

Supernus

Pharmaceuticals,

Inc.

(a) 100,000

5,169,000

Viatris

,

Inc.

55,835

754,331

86,138,293

Industrials

—

8.8%

Insteel

Industries,

Inc.

343,423

11,542,447

U-Haul

Holding

Co.

(a) 68,000

3,249,040

U-Haul

Holding

Co.,

Class

B

385,000

17,197,950

31,989,437

Materials

—

6.5%

Apogee

Enterprises,

Inc.

50,000

1,677,000

Ashland,

Inc.

15,000

834,150

Chemours

Co.

(The)

250,000

5,507,500

LyondellBasell

Industries

N.V.,

Class

A

60,000

4,833,600

Newmont

Corp.

100,000

10,825,000

23,677,250

Technology

—

5.0%

Apple,

Inc.

30,000

7,613,700

Bruce

Fund,

Inc.

Schedule

of

Investments

(continued)

March

31,

2026

-

(Unaudited)

COMMON

STOCKS

—

88.9%

-

continued

Shares

Fair

Value

Technology

—

5.0%

-

continued

Vicor

Corp.

(a) 65,000

$

10,465,000

18,078,700

Utilities

—

21. 2

%

Avista

Corp.

200,000

8,028,000

CMS

Energy

Corp.

150,000

11,637,000

Duke

Energy

Corp.

140,000

18,331,600

NextEra

Energy,

Inc.

260,000

24,148,800

Xcel

Energy,

Inc.

180,000

14,299,200

76,444,600

Total

Common

Stocks

(Cost $154,816,982)

321,785,825

U.S.

GOVERNMENT

BONDS

—

4.0%

Principal

Amount

U.S.

Treasury

"Strips",

0.00 %

,

2/15/2036

$

20,000,000

13,194,161

U.S.

Treasury

"Strips",

0.00 %

,

5/15/2053

5,000,000

1,295,697

Total

U.S.

Government

Bonds

(Cost $14,111,649)

14,489,858

CONVERTIBLE

CORPORATE

BONDS

—

0.0%

(f) Health

Care

—

0.0%

(f) Acorda

Therapeutics,

Inc.,

6.00%,

12/1/2024

(b) (c) (d) 5,000,000

100,000

Total

Convertible

Corporate

Bonds

(Cost $1,365,191)

100,000

MONEY

MARKET

FUNDS

-

7.0%

Shares

Morgan

Stanley

Institutional

Liquidity

Government

Portfolio,

Institutional

Class,

3.57%

(e) 25,412,061

25,412,061

Total

Money

Market

Funds

(Cost

$25,412,061)

25,412,061

Total

Investments

—

99.9%

(Cost

$195,705,883)

361,787,744

Other

Assets

in

Excess

of

Liabilities — 0.1%

214,623

NET

ASSETS

—

100.0%

$

362,002,367

(a) Non-income

producing

security.

(b) Illiquid

security.

The

total

fair

value

of

these

securities

as

of

March

31,

2026

was

$100,000,

representing

0.0%

of

net

assets.

(c) In

default.

(d) Security

is

currently

being

valued

according

to

the

fair

value

procedures

approved

by

the

Board

of

Directors.

(e) Rate

disclosed

is

the

seven

day

effective

yield

as

of

March

31,

2026. (f) Less

than

(0.05%)

ADR

-

American

Depositary

Receipt

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Bruce Fund, Inc.

- **b. Investment Company Act file number:** 811-01528

- **c. CIK number of Registrant:** 0000047071

- **d. LEI of Registrant:** 549300KR3RLFC5M6KA98

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 20 N. Wacker Dr.

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-236-9160

**Item A.2. Information about the Series.**

- **a. Name of Series:** BRUCE FUND

- **b. EDGAR series identifier (if any):** S000011411

- **c. LEI of Series:** 549300KR3RLFC5M6KA98

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $362273956.12

**Total Liabilities:** $270709.70

**Net Assets:** $362003246.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000031584 | 4.28%                | 6.37%                | -2.99%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1437529.50              | $12949932.50                               |
| Month 2  | $1460389.00              | $20568362.22                               |
| Month 3  | $2477848.00              | $-14316955.09                              |

### Schedule of Portfolio Investments

| Name                                          | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                      | AT&T, Inc.                                                          | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    450000 | NS      | $13045500.00  | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                           | Abbott Laboratories                                                 | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    110000 | NS      | $11293700.00  | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                   | AbbVie, Inc.                                                        | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    100000 | NS      | $21749000.00  | 6.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Acorda Therapeutics Inc                       | Acorda Therapeutics, Inc.                                           | CUSIP: 00484MAC0<br>LEI: 5493007NPB5YRM8QGL53 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $100000.00    | 0.03%             | 2024-12-01      | Fixed         | 6.00%                 | No            |                  3 | On Loan: No      |
| The Allstate Corporation                      | Allstate Corporation (The)                                          | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |    110000 | NS      | $22807400.00  | 6.30%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                            | U-Haul Holding Company                                              | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |     68000 | NS      | $3249040.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co.                            | U-Haul Holding Company                                              | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |    385000 | NS      | $17197950.00  | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises Inc.                       | Apogee Enterprises, Inc.                                            | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     50000 | NS      | $1677000.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                    | Apple, Inc.                                                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     30000 | NS      | $7613700.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co.                    | Archer-Daniels-Midland Company                                      | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |    100000 | NS      | $7269000.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc.                                  | Ashland, Inc.                                                       | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     15000 | NS      | $834150.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corporation                            | Avista Corporation                                                  | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |    200000 | NS      | $8028000.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bausch Health Companies Inc.                  | Bausch Health Companies, Inc.                                       | CUSIP: 071734107<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | EC               | CORP              | CA        |     50000 | NS      | $270000.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Beta Bionics Inc.                             | Beta Bionics, Inc.                                                  | CUSIP: 08659B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    550700 | NS      | $5518014.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                        | CMS Energy Corporation                                              | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |    150000 | NS      | $11637000.00  | 3.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Caribou Biosciences Inc                       | Caribou Biosciences, Inc.                                           | CUSIP: 142038108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    250000 | NS      | $475000.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| The Chemours Company LLC                      | Chemours Company (The)                                              | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |    250000 | NS      | $5507500.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients, Inc                      | Darling Ingredients, Inc.                                           | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     95000 | NS      | $5875750.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                              | Duke Energy Corporation                                             | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    140000 | NS      | $18331600.00  | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Edap Tms SA                                   | EDAP TMS S.A.                                                       | CUSIP: 268311107<br>LEI: 9695007G9BC43P81WC36 | Long             | EC               | CORP              | FR        |    414794 | NS      | $1543033.68   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Fate Therapeutics Inc.                        | Fate Therapeutics, Inc.                                             | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |    789188 | NS      | $947025.60    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc.                       | Insteel Industries, Inc.                                            | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |    343423 | NS      | $11542447.03  | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kodiak Sciences Inc                           | Kodiak Sciences, Inc.                                               | CUSIP: 50015M109<br>LEI: 254900IXI5NI8C9OQE24 | Long             | EC               | CORP              | US        |    145000 | NS      | $5527400.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                               | Eli Lilly & Company                                                 | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2000 | NS      | $1839540.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Mannkind Corporation                          | MannKind Corporation                                                | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |    195073 | NS      | $477928.85    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc                              | Merck & Company, Inc.                                               | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    180000 | NS      | $21652200.00  | 5.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds  | Morgan Stanley Institutional Liquidity Fund  - Government Portfolio | CUSIP: 61747C707<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |  25412061 | PA      | $25412060.59  | 7.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corporation                           | Newmont Corporation                                                 | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |    100000 | NS      | $10825000.00  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                            | NextEra Energy, Inc.                                                | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    260000 | NS      | $24148800.00  | 6.67%             |  |  |  | No            |                  1 | On Loan: No      |
| 908 Devices Inc.                              | 908 Devices, Inc.                                                   | CUSIP: 65443P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68286 | NS      | $417910.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Personalis Inc                                | Personalis, Inc.                                                    | CUSIP: 71535D106<br>LEI: 549300EZ2NYFK7H0US48 | Long             | EC               | CORP              | US        |    233000 | NS      | $1484210.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                   | Pfizer, Inc.                                                        | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    250000 | NS      | $7020000.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SiriusXM Holdings Inc                         | Sirius XM Holdings, Inc.                                            | CUSIP: 829933100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55784 | NS      | $1287494.72   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc                 | Supernus Pharmaceuticals, Inc.                                      | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |    100000 | NS      | $5169000.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Treasury Bond Stripped Principal Payment | U.S. Treasury Strips                                                | CUSIP: 912803CX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $13194161.00  | 3.64%             | 2036-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bond Stripped Principal Payment | U,S, Treasury Strips                                                | CUSIP: 912803GS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $1295697.45   | 0.36%             | 2053-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Venture Global Inc                            | Venture Global, Inc.                                                | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Long             | EC               | CORP              | US        |    100000 | NS      | $1576000.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                                   | Viatris, Inc.                                                       | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     55835 | NS      | $754330.85    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                                    | Vicor Corporation                                                   | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     65000 | NS      | $10465000.00  | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                               | Xcel Energy, Inc.                                                   | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    180000 | NS      | $14299200.00  | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                               | Bunge Global S.A.                                                   | CUSIP: H11356104<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | US        |     70000 | NS      | $8904000.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings N.V.                          | AerCap Holdings N.V.                                                | CUSIP: N00985106<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | IE        |    180000 | NS      | $24692400.00  | 6.82%             |  |  |  | No            |                  1 | On Loan: No      |
| LyondellBasell Industries NV                  | LyondellBasell Industries N.V.                                      | CUSIP: N53745100<br>LEI: BN6WCCZ8OVP3ITUUVN49 | Long             | EC               | CORP              | US        |     60000 | NS      | $4833600.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-31

**Name of Applicant:** Bruce Fund, Inc.

**Signature:** Jeffrey Bruce

**Name of Signer:** Jeffrey Bruce

**Title:** President & Treasurer