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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-04656
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Ellsworth Fund Ltd.
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(Exact name of registrant as specified in charter)

65 Madison Avenue, Morristown, New Jersey 07960-7308
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(Address of principal executive offices) (Zip code)

Thomas H. Dinsmore
Ellsworth Fund Ltd.
65 Madison Avenue
Morristown, New Jersey 07960-7308
(Name and address of agent for service)

Copy to:
Steven B. King, Esq.
Ballard Spahr LLP
1735 Market Street, 51st Floor
Philadelphia, PA 19103-7599

Registrant's telephone number, including area code: 973-631-1177

Date of fiscal year end: September 30, 2010

Date of reporting period: June 30, 2010

ITEM 1. SCHEDULE OF INVESTMENTS.


Ellsworth Fund Ltd. - Portfolio of Investments 
(unaudited)

                       
  June 30, 2010                    
        Principal
Amount
          Value
(Note 1)
 
  CONVERTIBLE BONDS AND NOTES - 74.3%                    
                       
  Aerospace and Defense - 1.0%                    
  Alliant Techsystems Inc. 2.75%, due 2011 cv. sr. sub. notes (B1)   $ 1,000,000         $ 976,250  
                       
  Automotive - 1.2%                    
  Titan International, Inc. 5.625%, due 2017 cv. sr. sub. notes (NR) (1)     1,000,000           1,188,750  
                       
  Computer Hardware - 3.1%                    
  EMC Corp. 1.75%, due 2013 cv. sr. notes (A-)     1,900,000           2,415,375  
  NETAPP, Inc. 1.75%, due 2013 cv. sr. notes (NR)     500,000           645,000  
                    3,060,375  
  Computer Software - 8.8%                    
  Blackboard Inc. 3.25%, due 2027 cv. sr. notes (BB-)     1,500,000           1,492,500  
  GSI Commerce, Inc. 2.5%, due 2027 cv. sr. notes (NR)     1,000,000           1,126,250  
  Microsoft Corp. 0%, due 2013 cv. sr. notes (AAA) (2)     500,000           495,625  
  Nuance Communications Inc. 2.75%, due 2027 cv. sr. deb. (B-)     2,000,000           2,100,000  
  Rovi Corp. 2.625%, due 2040 cv. sr. notes (NR) (1)     1,000,000           1,022,500  
  Salesforce.com, Inc. 0.75%, due 2015 cv. sr. notes (NR) (1)     750,000           870,938  
  Sybase, Inc. 3.5%, due 2029 cv. sr. notes (NR)     1,000,000           1,475,000  
                    8,582,813  
  Construction Material - 1.0%                    
  CEMEX, S.A.B. de C.V. 4.875%, due 2015 cv. sub. notes (NR)
(exchangeable for ADS representing common shares) (1)
    1,000,000           993,750  
                       
  Consumer Goods - 0.9%                    
  Regis Corp. 5%, due 2014 cv. sr. notes (NR)     750,000           907,500  
                       
  Containers - 0.9%                    
  Owens-Brockway Glass Container, Inc. 3%, due 2015 exch. sr. notes (NR) (1)     1,000,000           923,750  
                       
  Data Processing - 1.0%                    
  CSG Systems International, Inc. 3%, due 2017 cv. sr. sub. notes (NR) (1)     1,000,000           972,500  
                       
  Energy - 7.7%                    
  Covanta Holding Corp. 1%, due 2027 cv. sr. deb. (Ba3) (3)     2,000,000           1,865,000  
  Goodrich Petroleum Corp. 5%, due 2029 cv. sr. notes (NR)     1,000,000           800,000  
  McMoRan Exploration Co. 5.25%, due 2011 cv. sr. notes (NR)     1,090,000           1,166,300  
  Oil States International, Inc. 2.375%, due 2025 contingent cv. sr. notes (NR)     800,000           1,090,000  
  SunPower Corp. 1.25%, due 2027 cv. sr. deb. (NR)     1,500,000           1,290,000  
  SunPower Corp. 4.5%, due 2015 sr. cash cv. deb. (NR) (1)     750,000           581,250  
  Trina Solar Ltd. 4%, due 2013 cv. sr. notes (NR)
(exchangeable for ADS representing common shares)
    500,000           616,875  
  Verenium Corp. 9%, due 2027 cv. sr. secured notes (NR)     337,000           132,273  
                    7,541,698  
  Financial Services - 5.9%                    
  Coinstar, Inc. 4%, due 2014 cv. sr. notes (BB)     750,000           960,938  
  Old Republic International Corp. 8%, due 2012 cv. sr. notes (Baa1)     1,500,000           1,788,750  
  Euronet Worldwide, Inc. 3.5%, due 2025 cv. deb. (B+) (3)     1,250,000           1,168,750  
  Knight Capital Group, Inc. 3.5%, due 2015 cash cv. sr. sub. notes (NR) (1)     1,000,000           911,300  
  National Financial Partners Corp. 4% due 2017 cv. sr. notes (NR)     1,000,000           950,000  
                    5,779,738  

Ellsworth Fund Ltd. - Portfolio of Investments 
(continued)

                       
  June 30, 2010                    
        Principal
Amount
          Value
(Note 1)
 
  CONVERTIBLE BONDS AND NOTES - continued                    
                       
  Foods - 0.9%                    
  Central European Distribution Corp. 3%, due 2013 cv. sr. notes (B-)   $ 1,000,000         $ 838,750  
                       
  Healthcare - 9.8%                    
  Charles River Laboratories Int'l, Inc. 2.25%, due 2013 cv sr notes (BB+)     1,000,000           961,250  
  China Medical Technologies, Inc. 4%, due 2013 cv. sr. sub. notes (NR)
(exchangeable for ADS representing common stock)
    1,500,000           993,750  
  Greatbatch, Inc. 2.25%, due 2013 cv. sub. deb. (NR) (3)     1,500,000           1,351,875  
  Integra LifeSciences Holdings, 2.375%, due 2012 cv. sr. notes (NR)     1,067,000           1,012,316  
  Kinetic Concepts, Inc. 3.25%, due 2015 cv. sr. notes (B+)     1,500,000           1,451,250  
  LifePoint Hospitals Inc. 3.5%, due 2014 cv. sub. notes (B)     1,000,000           928,750  
  Millipore Corp. 3.75%, due 2026 cv. sr. notes (BB-) (3)     750,000           940,313  
  Omnicare, Inc. 3.25%, due 2035 cv. sr. deb. (B3) (3)     850,000           707,625  
  SonoSite Inc. 3.75%, due 2014 cv. sr. notes (NR)     1,250,000           1,253,125  
                    9,600,254  
  Metals and Mining - 2.3%                    
  Jaguar Mining, Inc. 4.5%, due 2014 cv. sr. notes (NR)     1,000,000           958,750  
  Kaiser Aluminum Corp. 4.5%, due 2015 cash cv. sr. notes (NR) (1)     1,000,000           952,800  
  United States Steel Corp. 4%, due 2014 cv. sr. notes (Ba2)     250,000           350,938  
                    2,262,488  
  Multi-Industry - 1.5%                    
  LSB Industries, Inc. 5.5%, due 2012 cv. sr. sub. deb. (NR)     1,500,000           1,456,875  
                       
  Pharmaceuticals - 6.9%                    
  Amylin Pharmaceutical, Inc. 3%, due 2014 cv. sr. notes (NR)     1,000,000           851,250  
  Cephalon, Inc. 2.5%, due 2014 cv. sr. sub. notes (NR)     1,000,000           1,055,000  
  Endo Pharmaceuticals Holdings, Inc. 1.75%, due 2015 cv. sr. sub. notes (NR)     1,000,000           950,000  
  Mylan Laboratories, Inc. 1.25%, due 2012 cv. sr. notes (BB-)
(convertible into Mylan Inc. common stock)
    1,500,000           1,500,000  
  Onyx Pharmaceuticals, Inc. 4%, due 2016 cv. sr. notes (NR)     750,000           698,438  
  Teva Pharmaceutical Finance Co. B.V. 1.75%, due 2026 cv. sr. deb. (A3)
(exchangeable for Teva Pharmaceutical Industries Ltd. ADR)
    1,500,000           1,725,000  
                    6,779,688  
  Real Estate - 2.8%                    
  Annaly Capital Management, Inc. 4%, due 2015 cv. sr. notes (NR)     1,250,000           1,287,500  
  Corporate Office Properties, L.P. 4.25% due 2030 exch. sr. notes (NR) (1)     500,000           478,750  
  Lexington Realty Trust 6%, due 2030 cv. guaranteed notes (NR) (1)     1,000,000           995,000  
                    2,761,250  
                       
  Semiconductors - 2.3%                    
  Intel Corp. 2.95%, due 2035 jr. sub. cv. deb. (A-) (3)     1,500,000           1,432,500  
  Intel Corp. 3.25%, due 2039 jr. sub. cv. deb. (A-)     500,000           565,625  
  Xilinx, Inc. 2.625%, due 2017 cv. sr. notes (NR) (1)     250,000           254,375  
                    2,252,500  

Ellsworth Fund Ltd. - Portfolio of Investments 
(continued)

                       
  June 30, 2010                    
        Principal
Amount
          Value
(Note 1)
 
  CONVERTIBLE BONDS AND NOTES - continued                    
                       
  Telecommunications - 12.9%                    
  ADC Telecommunications Inc. 3.5%, due 2015 cv. sub. deb. (NR)   $ 1,575,000         $ 1,291,500  
  Anixter International Inc. 1%, due 2013 cv. sr. notes (BB-)     1,500,000           1,370,625  
  CommScope, Inc. 3.25%, due 2015 cv. sr. sub. notes (B)     1,000,000           1,093,750  
  Comtech Telecommunications Corp. 3%, due 2029 cv. sr. notes (NR)     1,000,000           1,035,000  
  Equinix, Inc. 2.5%, due 2012 cv. sub. notes (B-)     1,200,000           1,213,500  
  Equinix, Inc. 4.75%, due 2016 cv. sub. notes (B-)     1,015,000           1,205,313  
  Finisar Corp. 5%, due 2029 cv. sr. notes (NR)     500,000           775,000  
  NII Holdings, Inc. 2.75%, due 2025 cv. notes (B-)     1,000,000           1,003,750  
  SAVVIS, Inc. 3%, due 2012 cv. sr. notes (NR)     2,000,000           1,890,000  
  SBA Communications Corp. 4%, due 2014 cv. sr. notes (NR)     1,000,000           1,282,500  
  SBA Communications Corp. 1.875%, due 2013 cv. sr. notes (NR)     500,000           505,000  
                    12,665,938  
  Transportation - 1.7%                    
  DryShips Inc. 5%, due 2014 cv. sr. notes (NR)     1,000,000           741,250  
  ExpressJet Holdings, Inc. 11.25%, due 2023 cv. notes (NR)     900,000           912,375  
                    1,653,625  
  Travel and Leisure - 1.5%                    
  MGM Mirage 4.25%, due 2015 cv. sr. notes (Caa1) (1)     1,000,000           796,250  
  Morgans Hotel Group 2.375%, due 2014 cv. sr. sub. notes (NR)     1,000,000           720,000  
                    1,516,250  
                       
  TOTAL CONVERTIBLE BONDS AND NOTES                 72,714,742  
                       
  CORPORATE BONDS AND NOTES - 0.4%                    
                       
  Finance - 0.4%                    
  Lehman Brothers Holdings Inc. 6%, due 2010 medium-term notes (NR) (4)     50,000           193,500  
  Lehman Brothers Holdings Inc. 1%, due 2009 medium-term notes (NR) (4)     1,500,000           232,500  
                    426,000  
                       
  TOTAL CORPORATE BONDS AND NOTES                 426,000  
                       
                       
        Shares           Value
(Note 1)
 
  CONVERTIBLE PREFERRED STOCKS - 8.7%                    
                       
  Banking/Savings and Loan - 3.7%                    
  Bank of America Corp. 7.25% non-cum. perpetual cv. pfd., series L (Ba3)     1,000           908,000  
  New York Community Bancorp, Inc. 6% BONUSES units (Baa2)     24,000           1,104,000  
  Wells Fargo Corp. 7.5% perpetual cv. pfd., series L (Ba1)     1,750           1,629,250  
                    3,641,250  

Ellsworth Fund Ltd. - Portfolio of Investments 
(continued)

                       
  June 30, 2010                    
        Shares           Value
(Note 1)
 
  CONVERTIBLE PREFERRED STOCKS - continued                    
                       
  Energy - 3.2%                    
  ATP Oil & Gas Corp. 8% perpetual cv. pfd. (NR) (1)     7,500         $ 460,313  
  Chesapeake Energy Corp. 5% cum. cv. pfd. (B)     5,000           408,500  
  Chesapeake Energy Corp. 4.5% cum. cv. pfd. (B)     16,360           1,333,340  
  Whiting Petroleum Corp. 6.25% perpetual cv. pfd. (B)     5,000           968,450  
                    3,170,603  
  Foods - 1.0%                    
  Bunge Limited 4.875% cum. perpetual cv. pfd. (Ba1)     12,500           990,625  
                       
  Retail - 0.8%                    
  Amerivon Holdings LLC series A cv. pfd. units (NR)
(Acquired 04/01/10; Cost $1,500,000) (1,5,6)
    562,695           750,000  
                       
  TOTAL CONVERTIBLE PREFERRED STOCKS                 8,552,478  
                       
  MANDATORY CONVERTIBLE SECURITIES - 7.1% (7)                    
                       
  Energy - 2.3%                    
  Great Plains Energy, Inc. 12%, due 06/15/12 equity units (NR) (2)     20,000           1,195,000  
  Merrill Lynch & Co., Inc. 5.40%, due 09/27/10 PRIDES (A+)
(linked to the performance of ConocoPhillips common stock)
    2,000           1,100,410  
                    2,295,410  
  Finance - 1.2%                    
  Citigroup, Inc. T-DECS 7.5%, due 12/15/12 (NR)     10,000           1,129,900  
                       
  Foods - 1.4%                    
  2009 Dole Food ACES Trust 7%, due 11/1/2012 (NR)                    
  (exchangeable for Dole Food Company, Inc. common stock) (1)     130,000           1,409,694  
                       
  Home Building - 0.3%                    
  Beazer Homes USA, Inc. tangible equity units 7.25%, due 8/15/2013 (NR)     17,500           321,125  
                       
  Metals and Mining - 1.8%                    
  Vale Capital II 6.75%, due 06/15/12 mandatory cv. notes (BBBH)
(exchangeable for ADS representing Vale S.A. common stock)
    19,200           1,348,800  
  Vale Capital II 6.75%, due 06/15/12 mandatory cv. notes (BBBH)
(exchangeable for ADS representing Vale S.A. preferred A shares)
    6,500           457,145  
                    1,805,945  
                       
  TOTAL MANDATORY CONVERTIBLE SECURITIES (7)                 6,962,074  
                       
  COMMON STOCKS - 3.7%                    
                       
  Media and Entertainment - 1.0%                    
  The Walt Disney Company     30,000           945,000  
                       
  Pharmaceuticals - 0.8%                    
  Merck & Co.     23,651           827,075  

Ellsworth Fund Ltd. - Portfolio of Investments 
(continued)

                       
  June 30, 2010                    
        Shares           Value
(Note 1)
 
                       
  COMMON STOCKS - continued                    
                       
  Telecommunications - 1.9%                    
  AT&T, Inc.     40,000         $ 967,600  
  Verizon Communications, Inc.     32,000           896,640  
                    1,864,240  
                       
  TOTAL COMMON STOCKS                 3,636,315  
                       
                       
  Total Convertible Bonds and Notes - 74.3%               $ 72,714,742  
  Total Corporate Bonds and Notes - 0.4%                 426,000  
  Total Convertible Preferred Stocks - 8.8%                 8,552,478  
  Total Mandatory Convertible Securities - 7.1%                 6,962,074  
  Total Common Stocks - 3.7%                 3,636,315  
  Total Investments - 94.3%                 92,291,609  
                       
  Other assets and liabilities, net - 5.7%                 5,583,246  
  Total Net Assets - 100.0%               $ 97,874,855  

     
  (1) Security not registered under the Securities Act of 1933, as amended (the "Securities Act") (e.g., the security was purchased in a Rule 144A or a Regulation D transaction). The security may be resold only pursuant to an exemption from registration under the Securities Act, typically to qualified institutional buyers. The Fund generally has no rights to demand registration of such securities. The aggregate market value of these unregistered securities at June 30, 2010 was $13,561,920 which represented 13.9% of the Fund's net assets.  
     
  (2) Non-income producing security.  
     
  (3) Contingent payment debt instrument which accrues contingent interest.  
     
  (4) Security is in default.  
     
  (5) Investment is valued at fair value as determined in good faith pursuant to procedures adopted by the Board of Trustees. It is possible that the estimated value may differ significantly from the amount that might ultimately be realized in the near term, and the difference could be material. The fair value of these securities amounted to $750,000 at June 30, 2010, which represented 0.8% of the Fund's net assets.  
     
  (6) Restricted securities include securities that have not been registered under the Securities Act and securities that are subject to restrictions on resale. The Fund may invest in restricted securities that are consistent with the Fund's investment objective and investment strategies. As of June 30, 2010, the Fund was invested in the following restricted securities:  
     
  Amerivon Holdings LLC units containing series A cv. pfd. shares and common equity units, acquired April 1, 2010.  
     
  (7) Mandatory Convertible Securities are required to be converted on the dates listed; they generally may be converted prior to these dates at the option of the holder.  
     
  Investment Abbreviations  
  ACES - Automatic Common Exchange Securities.  
  ADR - American Depositary Receipts.  
  ADS - American Depositary Shares.  
  BONUSES - Bifurcated Option Note Unit Securities.  
  PRIDES - Preferred Redeemable Increased Dividend Equity Securities.  
  T-DECS - Tangible Dividend Enhanced Common Stock.  
     
  Ratings in parentheses by Moody's Investors Service, Inc. or Standard & Poor's. NR is used whenever a rating is unavailable.  

  

                       
  Summary of Portfolio Ratings *        
  AAA     1%              
  AA     0%              
  A     8%              
  BBB     5%              
  BB     15%              
  B     17%              
  CCC & below     1%              
  Not Rated     53%              
                       
  * Excludes equity securities and cash.        

Ellsworth Fund Ltd. - Selected Notes to Financial Statements (unaudited)

     
 

Ellsworth Fund Ltd. (the "Fund"), is registered under the Investment Company Act of 1940, as amended (the "Act"), as a diversified, closed-end management investment company.

 
     
 

Note 1. Security Valuation - Investments in securities traded on a national securities exchange are valued at market using the last reported sales price, supplied by an independent pricing service, as of the close of regular trading. Listed securities, for which no sales were reported, are valued at the mean between closing reported bid and asked prices as of the close of regular trading. Unlisted securities traded in the over-the-counter market are valued using an evaluated quote provided by the independent pricing service, or, if an evaluated quote is unavailable, such securities are valued using prices received from dealers, provided that if the dealer supplies both bid and asked prices, the price to be used is the mean of the bid and asked prices. The independent pricing service derives an evaluated quote by obtaining dealer quotes, analyzing the listed markets, reviewing trade execution data and employing sensitivity analysis. Evaluated quotes may also reflect appropriate factors such as individual characteristics of the issue, communications with broker-dealers, and other market data. Securities for which quotations are not readily available, restricted securities and other assets are valued at fair value as determined in good faith pursuant to procedures adopted by the Board of Trustees. Short-term debt securities with original maturities of 60 days or less are valued at amortized cost.

 
     
 

The Fund has adopted authoritative fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion in changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels listed below:

 
     
 

Level 1 - Quoted unadjusted prices for identical instruments in active markets.

 
     
 

Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-driven valuation in which all significant inputs and significant value drivers are observable in active markets. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers, and those received from an independent pricing service.

 
     
 

Level 3 - Model derived valuations in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are those inputs that reflect the Fund's own assumptions that market participants would use to price an asset or liability based on the best available information.

 

The following is a summary of the inputs used to value the net assets of the Fund as of June 30, 2010:

                             
        Level 1     Level 2     Level 3        
                             
  Investments in Securities:                          
  Common Stocks:                          
  Media and Entertainment   $ 945,000   $ ---   $ ---        
  Pharmaceuticals     827,075     ---     ---        
  Telecommunications     1,864,240     ---     ---        
  Total Common Stocks     3,636,315     ---     ---        
                             
  Convertible Bonds and Notes     ---     72,714,742     ---        
  Convertible Preferred Stocks     ---     7,802,478     750,000        
  Mandatory Convertible Securities     ---     6,962,074     ---        
  Corporate Bonds and Notes     ---     426,000     ---        
  Total Investments   $ 3,636,315   $ 87,905,294   $ 750,000        

Ellsworth Fund Ltd. - Selected Notes to Financial Statements (continued)

The following is a reconciliation of assets for which level 3 inputs were used in determining value:

                                   
        Convertible Bonds
and Notes
    Corporate Bonds
and Notes
    Convertible Preferred
Stocks
    Total        
                                   
  Beginning balance   $ ---   $ ---   $ 750,000   $ 750,000        
                                   
  Change in unrealized
appreciation (depreciation)
    ---     ---     ---     ---        
                                   
  Net transfers in/out of level 3     ---     ---     ---     ---        
                                   
  Ending balance   $ ---   $ ---   $ 750,000   $ 750,000        

  

     
 

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of the markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.

 
     
 

Note 2. Securities transactions are accounted for on the trade date (date the order to buy or sell is executed) with gain or loss on the sale of securities being determined based upon identified cost. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis, including accretion of discounts and amortization of non-equity premium. For certain securities, known as "contingent payment debt instruments," Federal tax regulations require the Fund to record non-cash, "contingent" interest income in addition to interest income actually received. Contingent interest income amounted to approximately 4 cents per share for the nine months ended June 30, 2010. In addition, Federal tax regulations require the Fund to reclassify realized gains on contingent payment debt instruments to interest income. At June 30, 2010 there were unrealized losses of approximately 9 cents per share on contingent payment debt instruments.

 

The cost basis of investments for federal income tax purposes at June 30, 2010 was as follows:

                 
  Cost basis of investments   $ 96,735,360        
                 
  Gross unrealized appreciation     6,181,179        
  Gross unrealized depreciation     (10,624,930 )      
                 
  Net unrealized depreciation   $ (4,443,751 )      

ITEM 2. CONTROLS AND PROCEDURES.

Conclusions of principal officers concerning controls and procedures

     
 

(a) The Fund's principal executive officer and principal financial officer have concluded that the Fund's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act, (17 CFR 270.30a-3(c))) are effective as of August 26, 2010 based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 17 CFR 240.15d-15(b)).

 
     
 

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

 

ITEM 3. EXHIBITS.

Certifications of the principal executive officer and the principal financial officer of the Fund, as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), are 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.

Ellsworth Fund Ltd.

By: /s/Thomas H. Dinsmore
     Thomas H. Dinsmore
     Chairman of the Board and
     Chief Executive Officer
     (Principal Executive Officer)

Date: August 26, 2010

  

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: /s/Thomas H. Dinsmore
     Thomas H. Dinsmore
     Chairman of the Board and
     Chief Executive Officer
     (Principal Executive Officer)

Date: August 26, 2010

By: /s/Gary I. Levine
     Gary I. Levine
     Chief Financial Officer
     (Principal Financial Officer)

Date: August 26, 2010