Gabelli Utilities Fund (GAUAX) NPORT-P The Gabelli Utilities Fund (Sep 2022 report)

1

The

Gabelli

Utilities

Fund

Schedule

of

Investments

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

—

97

.6

%

ENERGY

AND

UTILITIES

—

83

.3

%

Alternative

Energy

—

1

.1

%

380,000‌

Algonquin

Power

&

Utilities

Corp.

.............

$

4,151,156‌

44,359‌

Brookfield

Renewable

Corp.

,

Cl. A

.............

1,449,652‌

15,000‌

Clearway

Energy

Inc.

,

Cl. C

.......................

477,750‌

43,000‌

Eos

Energy

Enterprises

Inc.

†

....................

71,810‌

10,000‌

Fluence

Energy

Inc.

†

................................

145,900‌

12,000‌

Landis+Gyr

Group

AG

...............................

654,302‌

94,063‌

NextEra

Energy

Partners

LP

......................

6,801,696‌

66,000‌

Ormat

Technologies

Inc.

...........................

5,689,200‌

900‌

SolarEdge

Technologies

Inc.

†

...................

208,314‌

19,649,780‌

Diversified

Industrial

—

0

.6

%

76,207‌

AZZ

Inc.

...................................................

2,782,318‌

8,000‌

Graham

Corp.

...........................................

70,320‌

66,080‌

ITT

Inc.

....................................................

4,317,667‌

272,283‌

Mueller

Water

Products

Inc.

,

Cl. A

.............

2,796,346‌

28,000‌

Park-Ohio

Holdings

Corp.

.........................

316,680‌

10,283,331‌

Electric

Integrated

—

52

.0

%

284,750‌

ALLETE

Inc.

.............................................

14,251,738‌

174,500‌

Alliant

Energy

Corp.

..................................

9,246,755‌

526,000‌

Ameren

Corp.

...........................................

42,369,300‌

665,500‌

American

Electric

Power

Co.

Inc.

..............

57,532,475‌

197,000‌

Avangrid

Inc.

............................................

8,214,900‌

240,000‌

Avista

Corp.

.............................................

8,892,000‌

424,500‌

Black

Hills

Corp.

.......................................

28,751,385‌

63,325‌

CMS

Energy

Corp.

....................................

3,688,048‌

441,000‌

Dominion

Energy

Inc.

...............................

30,477,510‌

16,700‌

DTE

Energy

Co.

........................................

1,921,335‌

284,500‌

Duke

Energy

Corp.

...................................

26,464,190‌

395,000‌

Edison

International

..................................

22,349,100‌

10,900‌

Entergy

Corp.

...........................................

1,096,867‌

1,131,600‌

Evergy

Inc.

...............................................

67,217,040‌

777,500‌

Eversource

Energy

....................................

60,613,900‌

320,000‌

Exelon

Corp.

............................................

11,987,200‌

352,750‌

FirstEnergy

Corp.

.....................................

13,051,750‌

176,000‌

Fortis

Inc.

................................................

6,686,560‌

910,000‌

Hawaiian

Electric

Industries

Inc.

...............

31,540,600‌

42,200‌

IDACORP

Inc.

...........................................

4,178,222‌

300,000‌

MGE

Energy

Inc.

......................................

19,689,000‌

2,274,500‌

NextEra

Energy

Inc.

..................................

178,343,545‌

260,000‌

NiSource

Inc.

...........................................

6,549,400‌

428,000‌

NorthWestern

Corp.

..................................

21,091,840‌

785,000‌

OGE

Energy

Corp.

.....................................

28,621,100‌

632,000‌

Otter

Tail

Corp.

.........................................

38,880,640‌

290,000‌

PG&E

Corp.

†

............................................

3,625,000‌

320,000‌

Pinnacle

West

Capital

Corp.

......................

20,643,200‌

909,500‌

PNM

Resources

Inc.

.................................

41,591,435‌

125,750‌

Portland

General

Electric

Co.

.....................

5,465,095‌

Shares

Market

Value

530,000‌

PPL

Corp.

................................................

$

13,435,500‌

184,500‌

Public

Service

Enterprise

Group

Inc.

.........

10,374,435‌

431,000‌

The

Southern

Co.

.....................................

29,308,000‌

50,000‌

Unitil

Corp.

...............................................

2,322,500‌

5,000‌

Vistra

Corp.

..............................................

105,000‌

571,500‌

WEC

Energy

Group

Inc.

............................

51,109,245‌

422,500‌

Xcel

Energy

Inc.

.......................................

27,040,000‌

948,725,810‌

Electric

Transmission

and

Distribution

—

0

.8

%

62,000‌

Consolidated

Edison

Inc.

..........................

5,317,120‌

100,333‌

Constellation

Energy

Corp.

........................

8,346,702‌

5,000‌

Sempra

Energy

.........................................

749,700‌

3,500‌

The

Timken

Co.

........................................

206,640‌

14,620,162‌

Environmental

Services

—

0

.1

%

1,000‌

Tetra

Tech

Inc.

..........................................

128,530‌

80,236‌

Veolia

Environnement

SA

..........................

1,549,902‌

2,000‌

Waste

Connections

Inc.

............................

270,260‌

1,948,692‌

Global

Utilities

—

2

.4

%

10,000‌

AES

Brasil

Energia

SA

...............................

17,444‌

35,000‌

Chubu

Electric

Power

Co.

Inc.

...................

315,346‌

20,000‌

E.ON

SE

...................................................

154,769‌

5,000‌

EDP

-

Energias

de

Portugal

SA

,

ADR

.........

218,200‌

165,000‌

Electric

Power

Development

Co.

Ltd.

.........

2,334,830‌

24,000‌

Electricite

de

France

SA

............................

279,667‌

204,500‌

Emera

Inc.

...............................................

8,274,156‌

35,000‌

Enagas

SA

................................................

543,340‌

100,000‌

Endesa

SA

................................................

1,511,237‌

290,000‌

Enel

SpA

..................................................

1,200,522‌

75,000‌

Equinor

ASA

.............................................

2,466,593‌

560,000‌

Hera

SpA

.................................................

1,199,738‌

25,000‌

Hokkaido

Electric

Power

Co.

Inc.

...............

78,249‌

8,000‌

Hokuriku

Electric

Power

Co.

......................

26,864‌

175,000‌

Huaneng

Power

International

Inc.

,

ADR

†

...

3,059,000‌

460,000‌

Iberdrola

SA

.............................................

4,319,786‌

50,000‌

Iberdrola

SA

,

ADR

....................................

1,860,500‌

25,000‌

Italgas

SpA

..............................................

117,018‌

365,000‌

Korea

Electric

Power

Corp.

,

ADR

†

.............

2,482,000‌

80,000‌

Kyushu

Electric

Power

Co.

Inc.

.................

426,726‌

125,000‌

National

Grid

plc

.......................................

1,299,385‌

40,000‌

National

Grid

plc

,

ADR

..............................

2,061,200‌

360,000‌

Red

Electrica

Corp.

SA

..............................

5,542,771‌

30,000‌

Shikoku

Electric

Power

Co.

Inc.

................

149,865‌

2,000‌

Snam

SpA

................................................

8,127‌

19,000‌

The

Chugoku

Electric

Power

Co.

Inc.

.........

96,359‌

300,000‌

The

Kansai

Electric

Power

Co.

Inc.

............

2,512,264‌

140,000‌

Tohoku

Electric

Power

Co.

Inc.

..................

658,744‌

55,000‌

Tokyo

Electric

Power

Co.

Holdings

Inc.

†

....

175,568‌

2

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

ENERGY

AND

UTILITIES

(Continued)

Global

Utilities

(Continued)

3,400‌

Uniper

SE

.................................................

$

13,015‌

43,403,283‌

Merchant

Energy

—

4

.1

%

120,000‌

NRG

Energy

Inc.

.......................................

4,592,400‌

3,072,000‌

The

AES

Corp.

..........................................

69,427,200‌

74,019,600‌

Natural

Gas

Integrated

—

8

.6

%

4,000‌

DT

Midstream

Inc.

....................................

207,560‌

492,000‌

Energy

Transfer

LP

...................................

5,426,760‌

86,000‌

Hess

Corp.

...............................................

9,373,140‌

215,000‌

Kinder

Morgan

Inc.

...................................

3,577,600‌

1,651,500‌

National

Fuel

Gas

Co.

................................

101,649,825‌

501,000‌

ONEOK

Inc.

..............................................

25,671,240‌

348,000‌

UGI

Corp.

.................................................

11,250,840‌

157,156,965‌

Natural

Gas

Utilities

—

6

.3

%

74,000‌

Atmos

Energy

Corp.

.................................

7,536,900‌

92,000‌

CenterPoint

Energy

Inc.

............................

2,592,560‌

2,000‌

Cheniere

Energy

Inc.

................................

331,820‌

32,000‌

Chesapeake

Utilities

Corp.

........................

3,692,480‌

100,000‌

Gulf

Coast

Ultra

Deep

Royalty

Trust

...........

4,700‌

14,000‌

New

Jersey

Resources

Corp.

....................

541,800‌

435,000‌

Northwest

Natural

Holding

Co.

..................

18,870,300‌

143,000‌

ONE

Gas

Inc.

............................................

10,065,770‌

83,970‌

RGC

Resources

Inc.

.................................

1,768,408‌

140,000‌

South

Jersey

Industries

Inc.

.....................

4,678,800‌

844,782‌

Southwest

Gas

Holdings

Inc.

....................

58,923,545‌

106,500‌

Spire

Inc.

.................................................

6,638,145‌

115,645,228‌

Natural

Resources

—

2

.5

%

21,000‌

Alliance

Resource

Partners

LP

..................

480,900‌

257,400‌

Cameco

Corp.

..........................................

6,823,674‌

35,000‌

CNX

Resources

Corp.

†

.............................

543,550‌

9,500‌

Diamondback

Energy

Inc.

.........................

1,144,370‌

4,700‌

EOG

Resources

Inc.

..................................

525,131‌

621,500‌

Mueller

Industries

Inc.

..............................

36,941,960‌

46,459,585‌

Oil

—

0

.2

%

28,000‌

BP

plc

,

ADR

.............................................

799,400‌

10,000‌

Callon

Petroleum

Co.

†

..............................

350,100‌

38,500‌

Devon

Energy

Corp.

..................................

2,315,005‌

3,464,505‌

Services

—

1

.3

%

75,000‌

Dril-Quip

Inc.

†

..........................................

1,464,000‌

563,000‌

Enbridge

Inc.

............................................

20,887,300‌

16,000‌

Halliburton

Co.

.........................................

393,920‌

Shares

Market

Value

34,000‌

MDU

Resources

Group

Inc.

......................

$

929,900‌

24,000‌

Schlumberger

NV

.....................................

861,600‌

24,536,720‌

Water

—

3

.3

%

8,000‌

American

States

Water

Co.

.......................

623,600‌

103,700‌

American

Water

Works

Co.

Inc.

................

13,497,592‌

5,000‌

California

Water

Service

Group

.................

263,450‌

8,000‌

Consolidated

Water

Co.

Ltd.

......................

123,040‌

454,000‌

Essential

Utilities

Inc.

...............................

18,786,520‌

8,250‌

Middlesex

Water

Co.

.................................

636,900‌

510,000‌

Severn

Trent

plc

.......................................

13,410,324‌

134,500‌

SJW

Group

..............................................

7,747,200‌

87,000‌

The

York

Water

Co.

...................................

3,343,410‌

54,000‌

United

Utilities

Group

plc

,

ADR

.................

1,062,720‌

59,494,756‌

TOTAL

ENERGY

AND

UTILITIES

................

1,519,408,417‌

COMMUNICATIONS

—

9

.5

%

Business

Services

—

0

.1

%

795,000‌

Clear

Channel

Outdoor

Holdings

Inc.

†

.......

1,089,150‌

Cable

and

Satellite

—

2

.5

%

45,000‌

Altice

USA

Inc.

,

Cl. A

†

..............................

262,350‌

31,300‌

Charter

Communications

Inc.

,

Cl. A

†

.........

9,494,855‌

27,000‌

Cogeco

Communications

Inc.

...................

1,409,469‌

74,000‌

Cogeco

Inc.

..............................................

2,951,750‌

36,000‌

Comcast

Corp.

,

Cl. A

................................

1,055,880‌

400,000‌

DISH

Network

Corp.

,

Cl. A

†

......................

5,532,000‌

300,000‌

EchoStar

Corp.

,

Cl. A

†

..............................

4,941,000‌

5,800‌

Liberty

Broadband

Corp.

,

Cl. C

†

................

428,040‌

346,366‌

Liberty

Global

plc

,

Cl. A

†

..........................

5,399,846‌

533,000‌

Liberty

Global

plc

,

Cl. C

†

..........................

8,794,500‌

180,000‌

Liberty

Latin

America

Ltd.

,

Cl. A

†

..............

1,114,200‌

61,483‌

Liberty

Latin

America

Ltd.

,

Cl. C

†

..............

378,121‌

95,000‌

Rogers

Communications

Inc.

,

Cl. B

...........

3,661,300‌

10,000‌

Shaw

Communications

Inc.

,

Cl. B

.............

243,200‌

38,000‌

TBS

Holdings

Inc.

.....................................

415,629‌

46,082,140‌

Telecommunications

—

6

.1

%

531,000‌

BCE

Inc.

...................................................

22,270,140‌

85,000‌

Deutsche

Telekom

AG

...............................

1,457,158‌

570,000‌

Deutsche

Telekom

AG

,

ADR

......................

9,724,200‌

1,448,000‌

Koninklijke

KPN

NV

..................................

3,933,780‌

470,000‌

Lumen

Technologies

Inc.

..........................

3,421,600‌

560,000‌

Nippon

Telegraph

&

Telephone

Corp.

........

15,113,383‌

23,000‌

Orange

Belgium

SA

†

................................

405,741‌

300,000‌

Orascom

Investment

Holding

,

GDR

†

.........

7,500‌

260,000‌

Pharol

SGPS

SA

†

.....................................

16,079‌

25,000‌

PLDT

Inc.

,

ADR

........................................

632,500‌

98,000‌

Proximus

SA

............................................

1,017,596‌

2,000‌

PT

Indosat

Tbk

.........................................

952‌

1,800,000‌

Singapore

Telecommunications

Ltd.

..........

3,333,681‌

3

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

COMMUNICATIONS

(Continued)

Telecommunications

(Continued)

160,000‌

Sistema

PJSC

FC

,

GDR

†

...........................

$

80,000‌

119,000‌

Swisscom

AG

,

ADR

..................................

5,572,770‌

10,000‌

Tele2

AB

,

Cl. B

..........................................

86,505‌

80,000‌

Telecom

Italia

SpA

,

ADR

†

.........................

149,600‌

215,000‌

Telefonica

Brasil

SA

,

ADR

.........................

1,616,800‌

270,000‌

Telefonica

Deutschland

Holding

AG

...........

548,544‌

310,000‌

Telefonica

SA

,

ADR

...................................

1,004,400‌

1,000,000‌

Telekom

Austria

AG

..................................

5,792,095‌

325,000‌

Telenet

Group

Holding

NV

.........................

4,494,264‌

540,000‌

Telephone

and

Data

Systems

Inc.

..............

7,506,000‌

110,000‌

Telesat

Corp.,

New

York

†

..........................

859,100‌

10,000‌

TELUS

Corp.

............................................

198,574‌

30,000‌

TIM

SA

,

ADR

............................................

335,400‌

1,284,223‌

VEON

Ltd.

,

ADR

†

.....................................

410,951‌

545,000‌

Verizon

Communications

Inc.

...................

20,693,650‌

110,682,963‌

Wireless

Communications

—

0

.8

%

45,000‌

America

Movil

SAB

de

CV

,

Cl. L,

ADR

........

741,150‌

14,000‌

Anterix

Inc.

†

............................................

500,080‌

200‌

Hutchison

Telecommunications

Hong

Kong

Holdings

Ltd.

...............................

29‌

26,000‌

Millicom

International

Cellular

SA

†

...........

296,660‌

37,957‌

Millicom

International

Cellular

SA

,

SDR

†

...

438,650‌

6,000‌

Mobile

TeleSystems

PJSC

,

ADR

†

..............

3,660‌

60,000‌

Operadora

De

Sites

Mexicanos

SAB

de

CV

50,230‌

81,993‌

SK

Telecom

Co.

Ltd.

,

ADR

........................

1,579,185‌

400‌

SmarTone

Telecommunications

Holdings

Ltd.

......................................................

210‌

300,000‌

Turkcell

Iletisim

Hizmetleri

A/S

,

ADR

.........

798,000‌

289,500‌

United

States

Cellular

Corp.

†

....................

7,535,685‌

255,000‌

Vodafone

Group

plc

,

ADR

.........................

2,889,150‌

14,832,689‌

TOTAL

COMMUNICATIONS

.......................

172,686,942‌

OTHER

—

4

.8

%

Aerospace

—

0

.1

%

2,942‌

Allied

Motion

Technologies

Inc.

.................

84,200‌

1,250,000‌

Rolls-Royce

Holdings

plc

†

........................

971,259‌

1,055,459‌

Building

and

Construction

—

0

.5

%

11,500‌

Acciona

SA

..............................................

2,035,466‌

23,400‌

Arcosa

Inc.

...............................................

1,338,012‌

7,000‌

H&E

Equipment

Services

Inc.

...................

198,380‌

78,000‌

Johnson

Controls

International

plc

............

3,839,160‌

45,000‌

Sitios

Latinoamerica

SAB

de

CV

†

..............

20,489‌

34,000‌

Vantage

Towers

AG

..................................

884,358‌

8,315,865‌

Shares

Market

Value

Business

Services

—

0.0

%

8,000‌

V2X

Inc.

†

.................................................

$

283,200‌

Consumer

Products

—

0.0

%

8,000‌

Essity

AB

,

Cl. A

.........................................

158,592‌

Diversified

Industrial

—

0

.6

%

1,000‌

Alstom

SA

................................................

16,411‌

54,000‌

Bouygues

SA

............................................

1,420,974‌

1,205‌

L.B.

Foster

Co.

,

Cl. A

†

...............................

11,761‌

856,257‌

SDCL

EDGE

Acquisition

Corp.

,

Cl. A

†

........

8,468,382‌

106,000‌

Twin

Disc

Inc.

†

.........................................

1,215,820‌

11,133,348‌

Electronics

—

0

.5

%

32,500‌

Corning

Inc.

.............................................

943,150‌

5,000‌

Keysight

Technologies

Inc.

†

......................

786,800‌

300‌

Roper

Technologies

Inc.

...........................

107,892‌

128,500‌

Sony

Group

Corp.

,

ADR

............................

8,230,425‌

10,068,267‌

Entertainment

—

0

.1

%

320,000‌

Grupo

Televisa

SAB

,

ADR

.........................

1,721,600‌

Financial

Services

—

0

.2

%

2,000‌

Alleghany

Corp.

†

......................................

1,678,740‌

100,000‌

Kinnevik

AB

,

Cl. A

†

...................................

1,337,220‌

1,500,000‌

Orascom

Financial

Holding

SAE

†

..............

15,353‌

3,031,313‌

Health

Care

—

0

.2

%

150,000‌

Covetrus

Inc.

†

..........................................

3,132,000‌

12,000‌

Tsumura

&

Co.

.........................................

255,787‌

3,387,787‌

Machinery

—

1

.4

%

90,000‌

Astec

Industries

Inc.

.................................

2,807,100‌

70,465‌

Flowserve

Corp.

.......................................

1,712,300‌

59,395‌

The

Gorman-Rupp

Co.

..............................

1,413,007‌

3,000‌

Valmont

Industries

Inc.

.............................

805,860‌

207,670‌

Xylem

Inc.

................................................

18,142,051‌

24,880,318‌

Metals

and

Mining

—

0

.2

%

73,000‌

Freeport-McMoRan

Inc.

............................

1,995,090‌

14,500‌

Vulcan

Materials

Co.

.................................

2,286,795‌

4,281,885‌

Specialty

Chemicals

—

0.0

%

1,500‌

Air

Products

and

Chemicals

Inc.

...............

349,095‌

Transportation

—

1

.0

%

226,000‌

GATX

Corp.

..............................................

19,243,900‌

TOTAL

OTHER

..........................................

87,910,629‌

TOTAL

COMMON

STOCKS

........................

1,780,005,988‌

4

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

CLOSED-END

FUNDS

—

0.0

%

40,000‌

Altaba

Inc.,

Escrow

†

.................................

$

152,000‌

WARRANTS

—

0.0

%

OTHER

—

0.0

%

Diversified

Industrial

—

0.0

%

428,750‌

SDCL

EDGE

Acquisition

Corp.

,

expire

12/31/28

†

.............................................

38,630‌

Principal

Amount

Market

Value

U.S.

GOVERNMENT

OBLIGATIONS

—

2

.4

%

$

43,544,000‌

U.S.

Treasury

Bills,

2.511

%

to

3.297

%

††

,

11/10/22

to

12/29/22

............................

$

43,336,174‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$

1,021,617,161

)

..........................

$

1,823,532,792‌

†

Non-income

producing

security.

††

Represents

annualized

yields

at

dates

of

purchase.

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

SDR

Swedish

Depositary

Receipt