
	Robert Bruce 13F
	Bruce & Co.

	Last update 2024-11-14	39 Stocks (1 new)
	Value $342.00 Mil	Turnover 5 %
	Countries: Top Holdings: UHAL.B(10.68%)ABBV(8.46%)NEE(8.24%)ALL(7.23%)MRK(7.12%) Portfolio Report

Robert Bruce Profile

Robert Bruce is the founder of Bruce & Co, the investment firm that serves as the advisor to the Bruce Fund (BRUFX). The Bruce Fund is run by Robert Bruce and his son, Robert Jeffrey Bruce. The Fund focuses primarily on common stock investments, though it also invests in high-yield and distressed debt. It may invest in some long-term U.S. government securities if the managers cannot find attractive opportunities elsewhere.

Robert Bruce Investing Philosophy

The Fund invests mostly in small- and mid-cap stocks, with the occasional large-cap, as well as convertible and distressed bonds. The Bruces tend to hold their stocks for the long-term, generally preferring the securities of distressed companies that are trading at a significant discount but which they believe can make a turnaround.

Robert Bruce Portfolio and Latest Trades

Ticker
Ticker
UHAL
UHAL.B
PFE
MRK
XEL
AER
ALL
BG
ABBV
ABBV
DAR
UHAL.B
DUK
DAR
ALL
ABBV
AAPL
CMS
UHAL.B
ADM
PRTK
XEL
UHAL.B
RLI
NEE
ADM
ABBV
BG
KOD
ABBV
T
CMS
UHAL.B
AMYT
NEE
BHC
IIIN
DAR
XEL
MRK
NEM
NEE
ABBV
ALL
VICR
MRK
UHAL.B
WBD
ABT
BHC
DUK
AAPL
AAPL
DUK
ALL
UHAL.B
T
SUPN
ASH
VICR
LVTX
AAPL
FATE
BHC
ABT
PFE
IGMS
CMS
VICR
GE
BHC
ALL
FATE
IGMS
VICR
DAR
MRK
T
CRBU
SIRI
MASS
CRBU
WEC
PSNL
SUPN
LVTX
UHAL
ABT
IGMS
CMS
PSNL
MRK
UHAL
PFE
NEE
AAPL
LVTX
T
PFE
DUK

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
UHAL	U-Haul Holding Co	2022-12-31	Reduce	-10.11%	● 50.32 ($57.53) 66.84	$70.67	22.84%	Reduce -90.05%	75,055	-679,495
UHAL.B	U-Haul Holding Co	2022-12-31	New Buy	+9.91%	● 52.06 ($57.91) 66.74	$62.44	7.82%	New holding	660,530	660,530
PFE	Pfizer Inc	2023-12-31	Reduce	-2.99%	● 26.13 ($30.23) 33.94	$26.21	-13.30%	Reduce -48.32%	268,500	-251,000
MRK	Merck & Co Inc	2023-09-30	Reduce	-2.75%	● 102.95 ($107.78) 114.33	$101.64	-5.70%	Reduce -26.52%	220,700	-79,672
XEL	Xcel Energy Inc	2024-03-31	Reduce	-2.23%	● 48.44 ($57.1) 63.73	$72.56	27.08%	Reduce -34.13%	193,000	-100,000
AER	AerCap Holdings NV	2024-09-30	New Buy	+2.21%	● 86.24 ($93.71) 98.28	$99.36	6.03%	New holding	80,000	80,000
ALL	Allstate Corp	2022-12-31	Reduce	-1.86%	● 117.71 ($130.77) 137.38	$207.39	58.59%	Reduce -22.24%	178,300	-51,000
BG	Bunge Global SA	2024-03-31	New Buy	+1.73%	● 86.5 ($93.58) 102.52	$89.74	-4.10%	New holding	50,000	50,000
ABBV	AbbVie Inc	2024-06-30	Add	+1.35%	● 154.79 ($165.65) 180.76	$182.93	10.43%	Add 17.03%	161,500	23,500
ABBV	AbbVie Inc	2023-12-31	Reduce	-1.34%	● 137.6 ($145.79) 154.97	$182.93	25.47%	Reduce -15.34%	138,000	-25,000
DAR	Darling Ingredients Inc	2023-09-30	New Buy	+1.31%	● 51.82 ($62.48) 69.8	$40.53	-35.13%	New holding	70,000	70,000
UHAL.B	U-Haul Holding Co	2023-09-30	Reduce	-1.26%	● 49.62 ($54.26) 58.83	$62.44	15.08%	Reduce -12.93%	557,700	-82,830
DUK	Duke Energy Corp	2023-09-30	Reduce	-1.25%	● 86.65 ($91.68) 95.56	$117.05	27.67%	Reduce -17.84%	213,890	-46,429
DAR	Darling Ingredients Inc	2023-12-31	Add	+1.24%	● 40.13 ($45.39) 50.76	$40.53	-10.71%	Add 100%	140,000	70,000
ALL	Allstate Corp	2023-12-31	Reduce	-1.20%	● 109.91 ($130.39) 144.36	$207.39	59.05%	Reduce -19.08%	127,200	-30,000
ABBV	AbbVie Inc	2023-09-30	Reduce	-1.16%	● 133.59 ($146.8) 154.65	$182.93	24.61%	Reduce -14.99%	163,000	-28,743
AAPL	Apple Inc	2023-09-30	Reduce	-1.07%	● 170.43 ($183.38) 196.45	$237.33	29.42%	Reduce -31.46%	40,300	-18,501
CMS	CMS Energy Corp	2023-09-30	Reduce	-1.07%	● 52.7 ($57.92) 63.42	$69.71	20.36%	Reduce -14.58%	356,000	-60,755
UHAL.B	U-Haul Holding Co	2024-03-31	Reduce	-1.07%	● 60.6 ($64.42) 69.46	$62.44	-3.07%	Reduce -8.02%	493,350	-43,000
ADM	Archer-Daniels Midland Co	2024-03-31	New Buy	+1.06%	● 51.38 ($58.7) 73.13	$54.60	-6.98%	New holding	50,000	50,000
PRTK	Paratek Pharmaceuticals Inc	2023-09-30	Sold Out	-1.03%	● 2.18 ($2.2) 2.23	$2.23	1.36%	Sold Out	0	-1,556,247
XEL	Xcel Energy Inc	2023-12-31	Reduce	-1.02%	● 55.03 ($60) 63.33	$72.56	20.93%	Reduce -14.58%	293,000	-50,000
UHAL.B	U-Haul Holding Co	2024-06-30	Add	+0.99%	● 59.37 ($62.91) 66.97	$62.44	-0.75%	Add 10.05%	542,950	49,600
RLI	RLI Corp	2024-06-30	Add	+0.96%	● 135.7 ($143.14) 148.77	$175.90	22.89%	Add 1020%	22,400	20,400
NEE	NextEra Energy Inc	2024-06-30	Add	+0.94%	● 61.7 ($70.95) 80.02	$78.67	10.88%	Add 13.52%	333,300	39,700
ADM	Archer-Daniels Midland Co	2024-09-30	Add	+0.88%	● 57.96 ($60.96) 65.72	$54.60	-10.43%	Add 100%	100,000	50,000
ABBV	AbbVie Inc	2024-09-30	Reduce	-0.86%	● 163.84 ($186.63) 199.35	$182.93	-1.98%	Reduce -9.29%	146,500	-15,000
BG	Bunge Global SA	2024-09-30	Add	+0.85%	● 94.72 ($102.3) 114.56	$89.74	-12.28%	Add 60%	80,000	30,000
KOD	Kodiak Sciences Inc	2023-03-31	New Buy	+0.84%	● 4.81 ($7) 8.89	$6.67	-4.71%	New holding	473,000	473,000
ABBV	AbbVie Inc	2022-12-31	Reduce	-0.82%	● 138.31 ($153.33) 165.99	$182.93	19.30%	Reduce -9.4%	202,500	-21,000
T	AT&T Inc	2023-12-31	Reduce	-0.81%	● 14.32 ($15.79) 17.22	$23.16	46.68%	Reduce -13.5%	961,000	-150,000
CMS	CMS Energy Corp	2023-12-31	Reduce	-0.76%	● 50.57 ($55.85) 59.91	$69.71	24.82%	Reduce -11.24%	316,000	-40,000
UHAL.B	U-Haul Holding Co	2024-09-30	Reduce	-0.71%	● 57.18 ($64.99) 73.21	$62.44	-3.92%	Reduce -6.52%	507,550	-35,400
AMYT	Amryt Pharma PLC	2023-03-31	Sold Out	-0.63%	● 7 ($14.13) 14.77	$14.70	4.03%	Sold Out	0	-315,182
NEE	NextEra Energy Inc	2023-12-31	Reduce	-0.62%	● 49.32 ($56.99) 62.78	$78.67	38.04%	Reduce -9.27%	293,600	-30,000
BHC	Bausch Health Companies Inc	2023-12-31	Reduce	-0.61%	● 6.53 ($7.28) 8.23	$8.37	14.97%	Reduce -24.24%	644,000	-206,000
IIIN	Insteel Industries Inc	2023-03-31	Add	+0.55%	● 26.57 ($29.07) 31.67	$29.48	1.41%	Add 25.34%	343,423	69,423
DAR	Darling Ingredients Inc	2024-09-30	Add	+0.55%	● 33.99 ($37.7) 41.78	$40.53	7.51%	Add 34%	201,000	51,000
XEL	Xcel Energy Inc	2023-09-30	Reduce	-0.54%	● 55.59 ($60.11) 65.21	$72.56	20.71%	Reduce -7.73%	343,000	-28,754
MRK	Merck & Co Inc	2022-12-31	Reduce	-0.53%	● 87.44 ($102.22) 112.12	$101.64	-0.57%	Reduce -6.49%	302,700	-21,000
NEM	Newmont Corp	2024-06-30	Add	+0.48%	● 36.43 ($40.89) 44.44	$41.94	2.57%	Add 52.44%	100,000	34,400
NEE	NextEra Energy Inc	2023-09-30	Reduce	-0.48%	● 57.08 ($69.23) 75.9	$78.67	13.64%	Reduce -6.23%	323,600	-21,514
ABBV	AbbVie Inc	2023-03-31	Reduce	-0.47%	● 144.61 ($152.88) 166.55	$182.93	19.66%	Reduce -5.31%	191,743	-10,757
ALL	Allstate Corp	2023-03-31	Reduce	-0.42%	● 105.11 ($126.41) 141.37	$207.39	64.06%	Reduce -6.43%	166,844	-11,456
VICR	Vicor Corp	2023-09-30	New Buy	+0.42%	● 52.95 ($66.28) 95.14	$53.21	-19.72%	New holding	20,000	20,000
MRK	Merck & Co Inc	2024-09-30	Reduce	-0.41%	● 111.15 ($118.8) 128.97	$101.64	-14.44%	Reduce -4.45%	214,500	-10,000
UHAL.B	U-Haul Holding Co	2023-12-31	Reduce	-0.40%	● 46.65 ($54.41) 71.18	$62.44	14.76%	Reduce -3.83%	536,350	-21,350
WBD	Warner Bros.Discovery Inc	2022-12-31	Reduce	-0.36%	● 8.87 ($11.29) 13.57	$10.48	-7.17%	Reduce -88.16%	14,510	-108,048
ABT	Abbott Laboratories	2023-12-31	Reduce	-0.35%	● 90.19 ($99.92) 110.4	$118.77	18.87%	Reduce -6.25%	150,000	-10,000
BHC	Bausch Health Companies Inc	2024-06-30	Reduce	-0.34%	● 6.1 ($7.57) 10.41	$8.37	10.57%	Reduce -14.6%	550,000	-94,000
DUK	Duke Energy Corp	2024-09-30	Reduce	-0.33%	● 99.35 ($111.3) 117.7	$117.05	5.17%	Reduce -4.86%	195,816	-10,000
AAPL	Apple Inc	2024-06-30	Add	+0.32%	● 165 ($186.49) 216.67	$237.33	27.26%	Add 13.11%	39,700	4,600
AAPL	Apple Inc	2023-12-31	Reduce	-0.32%	● 166.89 ($184.64) 198.11	$237.33	28.54%	Reduce -12.9%	35,100	-5,200
DUK	Duke Energy Corp	2023-12-31	Reduce	-0.32%	● 85.44 ($90.95) 98.31	$117.05	28.70%	Reduce -4.68%	203,890	-10,000
ALL	Allstate Corp	2023-09-30	Reduce	-0.32%	● 101.18 ($109.12) 115.24	$207.39	90.06%	Reduce -5.78%	157,200	-9,644
UHAL.B	U-Haul Holding Co	2023-03-31	Reduce	-0.30%	● 48.65 ($56.73) 62.87	$62.44	10.07%	Reduce -3.03%	640,530	-20,000
T	AT&T Inc	2022-12-31	Add	+0.30%	● 14.63 ($17.9) 19.3	$23.16	29.39%	Add 5.6%	1,132,000	60,000
SUPN	Supernus Pharmaceuticals Inc	2022-12-31	Reduce	-0.30%	● 31.09 ($34.75) 37.88	$36.57	5.24%	Reduce -24.57%	92,105	-30,000
ASH	Ashland Inc	2022-12-31	Reduce	-0.28%	● 94.11 ($105.39) 113.58	$78.06	-25.93%	Reduce -40%	15,000	-10,000
VICR	Vicor Corp	2024-06-30	Add	+0.28%	● 31.82 ($34.51) 38.08	$53.21	54.19%	Add 55.56%	70,000	25,000
LVTX	LAVA Therapeutics NV	2023-03-31	Add	+0.27%	● 1.59 ($2.8) 3.97	$1.60	-42.86%	Add 571.87%	671,874	571,874
AAPL	Apple Inc	2023-06-30	Reduce	-0.24%	● 160.1 ($174.1) 193.97	$237.33	36.32%	Reduce -7.84%	58,801	-5,000
FATE	Fate Therapeutics Inc	2023-03-31	Add	+0.24%	● 4.24 ($6.03) 11.12	$3.17	-47.43%	Add 250.88%	200,000	143,000
BHC	Bausch Health Companies Inc	2024-09-30	Reduce	-0.23%	● 5.22 ($6.59) 8.26	$8.37	27.01%	Reduce -18.18%	450,000	-100,000
ABT	Abbott Laboratories	2023-09-30	Reduce	-0.22%	● 95.53 ($105.03) 114.62	$118.77	13.08%	Reduce -4.1%	160,000	-6,843
PFE	Pfizer Inc	2023-09-30	Reduce	-0.21%	● 32.09 ($35.36) 37.51	$26.21	-25.88%	Reduce -3.55%	519,500	-19,126
IGMS	IGM Biosciences Inc	2023-09-30	Add	+0.20%	● 6.66 ($8.48) 10.64	$10.04	18.40%	Add 118.18%	120,000	65,000
CMS	CMS Energy Corp	2024-09-30	Reduce	-0.20%	● 58.7 ($65.62) 70.63	$69.71	6.23%	Reduce -3.13%	310,000	-10,000
VICR	Vicor Corp	2024-03-31	Add	+0.19%	● 35.51 ($38.87) 47.18	$53.21	36.89%	Add 50%	45,000	15,000
GE	General Electric Co	2022-12-31	Sold Out	-0.18%	● 49.63 ($61.57) 68.78	$182.16	195.86%	Sold Out	0	-10,000
BHC	Bausch Health Companies Inc	2023-09-30	Reduce	-0.18%	● 7.69 ($8.62) 9.71	$8.37	-2.90%	Reduce -8.19%	850,000	-75,780
ALL	Allstate Corp	2024-06-30	Add	+0.18%	● 157.07 ($166.81) 175.41	$207.39	24.33%	Add 2.59%	130,500	3,300
FATE	Fate Therapeutics Inc	2024-06-30	Add	+0.17%	● 3.26 ($4.38) 7.08	$3.17	-27.63%	Add 109.79%	300,000	157,000
IGMS	IGM Biosciences Inc	2023-12-31	Reduce	-0.17%	● 3.94 ($5.81) 8.79	$10.04	72.81%	Reduce -45.83%	65,000	-55,000
VICR	Vicor Corp	2023-12-31	Add	+0.16%	● 36.3 ($44.06) 58.86	$53.21	20.77%	Add 50%	30,000	10,000
DAR	Darling Ingredients Inc	2024-03-31	Add	+0.16%	● 40.69 ($44.02) 50.48	$40.53	-7.93%	Add 7.14%	150,000	10,000
MRK	Merck & Co Inc	2024-06-30	Add	+0.16%	● 123.8 ($128.81) 132.96	$101.64	-21.09%	Add 1.72%	224,500	3,800
T	AT&T Inc	2024-06-30	Add	+0.15%	● 16.09 ($17.39) 19.11	$23.16	33.18%	Add 2.39%	984,000	23,000
CRBU	Caribou Biosciences Inc	2023-03-31	New Buy	+0.15%	● 4.3 ($6.23) 7.78	$2.19	-64.85%	New holding	100,000	100,000
SIRI	Sirius XM Holdings Inc	2023-09-30	Reduce	-0.14%	● 38.8 ($46.46) 78.1	$26.95	-41.99%	Reduce -15.2%	55,784	-100,000
MASS	908 Devices Inc	2022-12-31	New Buy	+0.14%	● 7 ($12.1) 17.96	$2.74	-77.36%	New holding	68,286	68,286
CRBU	Caribou Biosciences Inc	2023-06-30	Add	+0.13%	● 4.04 ($4.51) 5.47	$2.19	-51.44%	Add 100%	200,000	100,000
WEC	WEC Energy Group Inc	2024-06-30	New Buy	+0.12%	● 77.8 ($81.23) 85.58	$101.05	24.40%	New holding	4,509	4,509
PSNL	Personalis Inc	2023-12-31	Add	+0.11%	● 0.93 ($1.29) 2.35	$3.97	207.75%	Add 100%	300,000	150,000
SUPN	Supernus Pharmaceuticals Inc	2023-03-31	Reduce	-0.10%	● 34.93 ($38.45) 42.03	$36.57	-4.89%	Reduce -10.86%	82,105	-10,000
LVTX	LAVA Therapeutics NV	2022-12-31	New Buy	+0.10%	● 3.37 ($4.59) 7.31	$1.60	-65.14%	New holding	100,000	100,000
UHAL	U-Haul Holding Co	2024-06-30	Add	+0.09%	● 61.73 ($65.09) 69.11	$70.67	8.57%	Add 6.07%	75,105	4,300
ABT	Abbott Laboratories	2024-06-30	Add	+0.08%	● 100.73 ($106.03) 112.44	$118.77	12.02%	Add 1.53%	152,300	2,300
IGMS	IGM Biosciences Inc	2024-06-30	Add	+0.08%	● 6.51 ($8.56) 11.47	$10.04	17.29%	Add 53.85%	100,000	35,000
CMS	CMS Energy Corp	2024-06-30	Add	+0.08%	● 56.89 ($60.53) 63.24	$69.71	15.17%	Add 1.27%	320,000	4,000
PSNL	Personalis Inc	2023-03-31	Add	+0.08%	● 2.01 ($2.81) 4.17	$3.97	41.28%	Add 200%	150,000	100,000
MRK	Merck & Co Inc	2023-03-31	Reduce	-0.07%	● 102.94 ($107.97) 114.84	$101.64	-5.86%	Reduce -0.77%	300,372	-2,328
UHAL	U-Haul Holding Co	2023-09-30	Reduce	-0.07%	● 54.57 ($58.08) 62.1	$70.67	21.68%	Reduce -5.3%	70,805	-3,959
PFE	Pfizer Inc	2024-06-30	Add	+0.07%	● 25.26 ($27.53) 29.6	$26.21	-4.79%	Add 2.94%	276,400	7,900
NEE	NextEra Energy Inc	2022-12-31	Reduce	-0.06%	● 70.64 ($80.78) 87.15	$78.67	-2.61%	Reduce -0.71%	347,500	-2,500
AAPL	Apple Inc	2022-12-31	Reduce	-0.06%	● 126.04 ($142.91) 155.74	$237.33	66.07%	Reduce -2.27%	64,500	-1,500
LVTX	LAVA Therapeutics NV	2023-06-30	Add	+0.06%	● 1.4 ($1.84) 2.6	$1.60	-13.04%	Add 14.88%	771,874	100,000
T	AT&T Inc	2023-06-30	Reduce	-0.06%	● 15.15 ($17.07) 19.96	$23.16	35.68%	Reduce -0.88%	1,120,254	-10,000
PFE	Pfizer Inc	2023-03-31	Reduce	-0.06%	● 39.39 ($43.19) 51.26	$26.21	-39.31%	Reduce -0.75%	538,626	-4,074
DUK	Duke Energy Corp	2024-06-30	Add	+0.06%	● 92.87 ($100.02) 104.6	$117.05	17.03%	Add 0.94%	205,816	1,926

100/Page

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