SCHEDULE: Wells Fargo Discloses Ellsworth Growth and Income Stake

Wells Fargo & Company has filed a Schedule 13G, reporting beneficial ownership of 1.9% of Ellsworth Growth and Income's Common Shares of Beneficial Interest as of September 30, 2026.

Summary

• Wells Fargo & Company, along with its subsidiaries Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC, has filed an amendment to its Schedule 13G.
• The filing reports beneficial ownership of 257,820 shares of Common Shares of Beneficial Interest in Ellsworth Growth and Income.
• This ownership represents approximately 1.9% of the class of securities.
• The filing indicates that Wells Fargo & Company has sole power to dispose of these shares.
• The date of the event requiring this filing was September 30, 2026.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral filing, primarily an administrative update on beneficial ownership rather than a strategic or financial performance announcement.

Positives

• Wells Fargo & Company maintains a disclosed ownership stake in Ellsworth Growth and Income.
• The filing clarifies the extent of Wells Fargo's beneficial ownership, providing transparency.

Negatives

• The filing does not contain any financial performance data or strategic updates for Ellsworth Growth and Income.
• The ownership percentage is relatively small (1.9%), suggesting a passive investment rather than a controlling interest.

Risks

• The filing itself does not present new risks for Ellsworth Growth and Income; it is an informational disclosure.
• Potential risks for investors in Ellsworth Growth and Income would be related to the company's underlying business, which is not detailed in this filing.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding future performance for either Wells Fargo & Company or Ellsworth Growth and Income.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."
• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct."

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors crossing certain ownership thresholds. This filing indicates Wells Fargo & Company's passive investment in Ellsworth Growth and Income, a common practice among large financial institutions managing diverse portfolios.

Comparison to Industry Standards

• This filing adheres to the standard reporting requirements for beneficial ownership under the Securities Exchange Act of 1934.
• The 1.9% ownership stake is typical for a passive institutional investor and does not suggest any deviation from common investment strategies in the asset management industry.

Stakeholder Impact

• Shareholders of Ellsworth Growth and Income are informed of Wells Fargo & Company's ownership stake, providing transparency.
• Investors in Wells Fargo & Company are provided with information on the company's investment holdings.

Next Steps

• Wells Fargo & Company will continue to hold its shares in Ellsworth Growth and Income.
• Future filings will be made by Wells Fargo & Company if its beneficial ownership changes significantly.

Key Dates

Keywords

Beneficial Ownership, Schedule 13G, Wells Fargo, Ellsworth Growth and Income, Investment Holding, Securities Disclosure