11 Hanover Square, 12th Floor
New York, NY
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10005
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(Address of principal executive offices)
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(Zip Code)
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FOXBY CORP.
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SCHEDULE OF PORTFOLIO INVESTMENTS
|
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September 30, 2018
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(Unaudited)
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Shares
|
Value
|
||
Common Stocks (100.32%)
|
|||
Apparel and Accessory Stores (1.28%)
|
|||
3,600
|
The GAP, Inc.
|
$ 103,860
|
|
Automotive Dealers and Gasoline Service Stations(3.56%)
|
|||
2,300
|
AutoNation, Inc. (a)
|
95,565
|
|
250
|
AutoZone, Inc. (a)
|
193,925
|
|
289,490
|
|||
Automotive Repair, Services, and Parking (2.20%)
|
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500
|
Amerco
|
178,325
|
|
Building Construction General Contractors And Operative Builders (1.49%)
|
|||
2,550
|
LGI Homes, Inc. (a)
|
120,972
|
|
Building Materials, Hardware, Garden Supply (1.34%)
|
|||
1,200
|
Tractor Supply Company
|
109,056
|
|
Business Services (14.36%)
|
|||
500
|
Alphabet Inc. Class A (a)
|
603,540
|
|
1,649
|
GlobalSCAPE, Inc.
|
6,612
|
|
2,400
|
Omnicom Group Inc.
|
163,248
|
|
3,300
|
Robert Half International Inc.
|
232,254
|
|
2,200
|
WPP plc
|
161,194
|
|
1,166,848
|
|||
Chemical and Allied Products (6.76%)
|
|||
950
|
Amgen Inc.
|
196,925
|
|
500
|
Biogen Inc. (a)
|
176,655
|
|
1,375
|
United Therapeutics Corporation (a)
|
175,835
|
|
549,415
|
|||
Communications (5.63%)
|
|||
13,000
|
Discovery, Inc. (a)
|
416,000
|
|
350
|
The Walt Disney Company
|
40,929
|
|
456,929
|
|||
Electronic and Other Electrical Equipment and Components, except Computer Equipment (5.91%)
|
|||
2,700
|
Advanced Energy Industries, Inc. (a)
|
139,455
|
|
800
|
Broadcom Inc.
|
197,384
|
|
3,250
|
Taiwan Semiconductor Manufacturing Co. Ltd.
|
143,520
|
|
480,359
|
|||
Fabricated Metal Products, except Machinery and Transportation Equipment (1.70%)
|
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750
|
Snap-on Incorporated
|
137,700
|
|
Food and Kindred Products (3.02%)
|
|||
5,000
|
Pilgrim's Pride Corporation (a)
|
90,450
|
|
1,500
|
Sanderson Farms, Inc.
|
155,055
|
|
245,505
|
|||
Food Stores (2.51%)
|
|||
7,000
|
The Kroger Co.
|
203,770
|
|
General Merchandise Stores (1.00%)
|
|||
1,000
|
Dollar Tree, Inc. (a)
|
81,550
|
|
Health Services (2.78%)
|
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1,300
|
Laboratory Corporation of America Holdings (a)
|
225,784
|
|
Home Furniture, Furnishings, and Equipment Stores (2.02%)
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2,500
|
Williams-Sonoma, Inc.
|
164,300
|
|
Industrial and Commercial Machinery and Computer Equipment (3.33%)
|
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1,200
|
Apple Inc.
|
270,888
|
|
Insurance Carriers (13.15%)
|
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3,500
|
Berkshire Hathaway, Inc. Class B (a)
|
749,385
|
|
4,000
|
Essent Group Ltd. (a)
|
177,000
|
|
1,400
|
Prudential Financial, Inc.
|
141,848
|
|
1,068,233
|
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Miscellaneous Retail (4.84%)
|
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2,000
|
CVS Health Corporation
|
157,440
|
|
2,439
|
Dick's Sporting Goods, Inc.
|
86,536
|
|
2,050
|
Walgreens Boots Alliance, Inc.
|
149,445
|
|
393,421
|
|||
Oil And Gas Extraction (0.34%)
|
|||
8,000
|
Permianville Royalty Trust
|
28,000
|
|
Paper and Allied Products (0.75%)
|
|||
1,588
|
Schweitzer-Mauduit International, Inc.
|
60,836
|
|
Real Estate (2.14%)
|
|||
5,000
|
Marcus & Millichap, Inc. (a)
|
173,550
|
|
Retail Consulting and Investment (0.00%)
|
|||
72,728
|
Amerivon Holdings LLC (a) (b)
|
0
|
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Security and Commodity Brokers, Dealers, Exchanges, and Services (3.78%)
|
|||
900
|
Affiliated Managers Group, Inc.
|
123,048
|
|
700
|
Diamond Hill Investment Group, Inc.
|
115,773
|
|
252
|
GAMCO Investors, Inc. Class A
|
5,902
|
|
4,500
|
Hennessy Advisors, Inc.
|
62,325
|
|
307,048
|
|||
Tobacco Products (3.05%)
|
|||
2,750
|
Altria Group, Inc.
|
165,853
|
|
1,000
|
Philip Morris International, Inc.
|
81,540
|
|
247,393
|
|||
Transportation by Air (2.60%)
|
|||
400
|
Allegiant Travel Company
|
50,720
|
|
4,000
|
Hawaiian Holdings, Inc.
|
160,400
|
|
211,120
|
|||
Transportation Equipment (10.18%)
|
|||
4,250
|
General Motors Company
|
143,098
|
|
950
|
Lear Corporation
|
137,750
|
|
3,000
|
Magna International Inc.
|
157,590
|
|
2,500
|
PACCAR Inc.
|
170,475
|
|
1,200
|
Thor Industries, Inc.
|
100,440
|
|
1,000
|
WABCO Holdings Inc. (a)
|
117,940
|
|
827,293
|
|||
Wholesale Trade - Nondurable Goods (0.60%)
|
|||
365
|
McKesson Corporation
|
48,417
|
|
Total common stocks (Cost $6,915,268)
|
8,150,062
|
||
Master Limited Partnerships (0.50%)
|
|||
Mining And Quarrying Of Nonmetallic Minerals, Except Fuels (0.50%)
|
|||
1,500
|
Ciner Resources LP
|
40,770
|
|
Total master limited partnerships (Cost $38,296)
|
40,770
|
||
Preferred Stocks (1.05%)
|
|||
Retail Consulting and Investment (1.050%)
|
|||
207,852
|
Amerivon Holdings LLC (b)
|
85,219
|
|
Total preferred stocks (Cost $521,923)
|
85,219
|
||
Total investments (Cost $7,475,487) (101.87%)
|
8,276,051
|
||
Liabilities in excess of cash and other assets (-1.87%)
|
(152,953)
|
||
Net assets (100.00%)
|
$ 8,123,098
|
||
(a) Non-income producing.
|
|||
(b) Illiquid and/or restricted security that has been fair valued.
|
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|
ASSETS
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||
Investments, at value
|
||||||
Common stocks
|
$ 8,150,062
|
$ -
|
$ 0
|
$ 8,150,062
|
||
Master limited partnership
Preferred stocks
|
40,770
-
|
-
-
|
-
85,219
|
40,770
85,219
|
||
Total investments, at value
|
$ 8,190,832
|
$ -
|
$ 85,219
|
$ 8,276,051
|
Common
Stocks
|
Preferred
Stocks
|
Total
|
||
Balance of level 3 assets at December 31, 2017
|
$ 0
|
$ 87,298
|
$ 87,298
|
|
Payment in-kind dividends
|
-
|
-
|
-
|
|
Change in unrealized appreciation (depreciation)
|
-
|
(2,079)
|
(2,079)
|
|
Balance at September 30, 2018
|
$ 0
|
$ 85,219
|
$ 85,219
|
|
Net change in unrealized depreciation attributable to assets still held as level 3 at September 30, 2018
|
$ -
|
$ (2,079)
|
$ (2,079)
|
Fair Value
|
Valuation Technique
|
Unobservable Input
|
Range
|
||
Common stocks
|
|||||
Retail Consulting and Investment
|
$ 0
|
Value of liquidation preference per share
|
Discount rate due to lack of marketability
|
80%
|
|
Preferred stocks
|
|||||
Retail Consulting and Investment
|
$ 85,219
|
Value of liquidation preference per share
|
Discount rate due to lack of marketability
|
80%
|
Acquisition Date
|
Cost
|
Value
|
|
Amerivon Holdings LLC preferred shares
|
9/20/07
|
$ 521,923
|
$ 85,219
|
Amerivon Holdings LLC common equity units
|
9/20/07
|
0
|
0
|
Total
|
$ 521,923
|
$ 85,219
|
|
Percent of net assets
|
6%
|
1%
|
(a)
|
The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the 1940 Act are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.
|
(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) 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.
|
(a)
|
Certifications of the registrant's principal executive officer and principal financial officer as required by Rule 30a-2(a) under the 1940 Act.
|
(a)
|
Certifications of the registrant's principal executive and principal financial officer as required by Rule 30a-2(a) under the 1940 Act. (EX-99.CERT)
|