Gabelli Utilities Fund (GAUAX) NPORT-P The Gabelli Utilities Fund (Sep 2023 report)

1

The

Gabelli

Utilities

Fund

Schedule

of

Investments

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

 —

100.0%

ENERGY

AND

UTILITIES

 —

83.8%

Alternative

Energy

 —

0.8%

380,000‌

Algonquin

Power

&

Utilities

Corp.

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

$

2,249,365‌

30,358‌

Brookfield

Renewable

Corp.,

Cl. A

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

726,771‌

15,000‌

Clearway

Energy

Inc.,

Cl. C

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

317,400‌

900‌

Enphase

Energy

Inc.†

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

108,135‌

27,500‌

Eos

Energy

Enterprises

Inc.†

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

59,125‌

1,000‌

First

Solar

Inc.†

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

161,590‌

10,000‌

Fluence

Energy

Inc.†

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

229,900‌

13,000‌

Landis+Gyr

Group

AG

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

941,607‌

95,609‌

NextEra

Energy

Partners

LP

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

2,839,587‌

65,000‌

Ormat

Technologies

Inc.

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

4,544,800‌

1,250‌

SolarEdge

Technologies

Inc.†

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

161,887‌

12,340,167‌

Diversified

Industrial

 —

0.9%

80,407‌

AZZ

Inc.

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

3,664,951‌

2,000‌

Chart

Industries

Inc.†

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

338,240‌

8,000‌

Graham

Corp.†

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

132,800‌

63,080‌

ITT

Inc.

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

6,176,163‌

257,645‌

Mueller

Water

Products

Inc.,

Cl. A

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

3,266,938‌

30,000‌

Park-Ohio

Holdings

Corp.

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

597,300‌

14,176,392‌

Electric

Integrated

 —

50.5%

284,250‌

ALLETE

Inc.

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

15,008,400‌

175,048‌

Alliant

Energy

Corp.

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

8,481,076‌

517,500‌

Ameren

Corp.

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

38,724,525‌

657,000‌

American

Electric

Power

Co.

Inc.

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

49,419,540‌

180,000‌

Avangrid

Inc.

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

5,430,600‌

287,000‌

Avista

Corp.

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

9,290,190‌

427,000‌

Black

Hills

Corp.

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

21,601,930‌

63,373‌

CMS

Energy

Corp.

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

3,365,740‌

441,000‌

Dominion

Energy

Inc.

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

19,699,470‌

17,700‌

DTE

Energy

Co.

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

1,757,256‌

284,438‌

Duke

Energy

Corp.

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

25,104,498‌

377,000‌

Edison

International

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

23,860,330‌

11,900‌

Entergy

Corp.

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

1,100,750‌

1,114,057‌

Evergy

Inc.

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

56,482,690‌

771,500‌

Eversource

Energy

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

44,862,725‌

319,986‌

Exelon

Corp.

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

12,092,271‌

344,791‌

FirstEnergy

Corp.

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

11,784,956‌

169,000‌

Fortis

Inc.

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

6,419,076‌

890,000‌

Hawaiian

Electric

Industries

Inc.

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

10,955,900‌

43,741‌

IDACORP

Inc.

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

4,096,345‌

293,500‌

MGE

Energy

Inc.

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

20,107,685‌

2,063,973‌

NextEra

Energy

Inc.

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

118,245,013‌

260,000‌

NiSource

Inc.

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

6,416,800‌

428,000‌

Northwestern

Energy

Group

Inc.

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

20,569,680‌

795,000‌

OGE

Energy

Corp.

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

26,497,350‌

522,500‌

Otter

Tail

Corp.

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

39,668,200‌

295,099‌

PG&E

Corp.†

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

4,759,947‌

Shares

Market

Value

319,200‌

Pinnacle

West

Capital

Corp.

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

$

23,518,656‌

325,523‌

PNM

Resources

Inc.

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

14,521,581‌

128,799‌

Portland

General

Electric

Co.

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

5,213,783‌

539,992‌

PPL

Corp.

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

12,722,212‌

181,895‌

Public

Service

Enterprise

Group

Inc.

.........

10,351,644‌

436,400‌

The

Southern

Co.

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

28,243,808‌

50,000‌

Unitil

Corp.

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

2,135,500‌

566,200‌

WEC

Energy

Group

Inc.

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

45,607,410‌

422,000‌

Xcel

Energy

Inc.

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

24,146,840‌

772,264,377‌

Electric

Transmission

and

Distribution

 —

1.1%

59,000‌

Consolidated

Edison

Inc.

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

5,046,270‌

95,333‌

Constellation

Energy

Corp.

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

10,398,924‌

12,000‌

Sempra

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

816,360‌

3,000‌

The

Timken

Co.

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

220,470‌

16,482,024‌

Environmental

Services

 —

0.2%

500‌

Badger

Meter

Inc.

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

71,935‌

995‌

Tetra

Tech

Inc.

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

151,270‌

80,000‌

Veolia

Environnement

SA

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

2,320,029‌

2,000‌

Waste

Connections

Inc.

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

268,600‌

2,811,834‌

Global

Utilities

 —

3.1%

10,053‌

AES

Brasil

Energia

SA†

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

21,860‌

36,000‌

Chubu

Electric

Power

Co.

Inc.

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

459,395‌

20,000‌

E.ON

SE

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

236,824‌

5,000‌

EDP

-

Energias

de

Portugal

SA,

ADR

.........

207,675‌

160,000‌

Electric

Power

Development

Co.

Ltd.

.........

2,588,865‌

204,500‌

Emera

Inc.

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

7,139,621‌

35,000‌

Enagas

SA

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

580,219‌

100,000‌

Endesa

SA

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

2,037,849‌

290,000‌

Enel

SpA

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

1,784,427‌

75,000‌

Equinor

ASA

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

2,462,103‌

560,000‌

Hera

SpA

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

1,533,435‌

25,000‌

Hokkaido

Electric

Power

Co.

Inc.

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

109,107‌

2,000‌

Hokuriku

Electric

Power

Co.†

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

10,787‌

6,600,000‌

Huaneng

Power

International

Inc.,

Cl. H†

..

3,202,677‌

460,000‌

Iberdrola

SA

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

5,152,719‌

48,000‌

Iberdrola

SA,

ADR

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

2,147,520‌

25,000‌

Italgas

SpA

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

128,244‌

283,000‌

Korea

Electric

Power

Corp.,

ADR†

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

1,822,520‌

78,000‌

Kyushu

Electric

Power

Co.

Inc.†

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

509,109‌

125,000‌

National

Grid

plc

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

1,494,622‌

40,000‌

National

Grid

plc,

ADR

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

2,425,200‌

360,000‌

Redeia

Corp.

SA

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

5,669,186‌

30,000‌

Shikoku

Electric

Power

Co.

Inc.

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

205,467‌

2,000‌

Snam

SpA

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

9,407‌

18,000‌

The

Chugoku

Electric

Power

Co.

Inc.

.........

110,826‌

300,000‌

The

Kansai

Electric

Power

Co.

Inc.

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

4,170,570‌

132,000‌

Tohoku

Electric

Power

Co.

Inc.

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

854,679‌

2

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

ENERGY

AND

UTILITIES

(Continued)

Global

Utilities

(Continued)

55,000‌

Tokyo

Electric

Power

Co.

Holdings

Inc.†

....

$

246,146‌

47,321,059‌

Merchant

Energy

 —

3.4%

120,000‌

NRG

Energy

Inc.

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

4,622,400‌

3,071,500‌

The

AES

Corp.

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

46,686,800‌

51,309,200‌

Natural

Gas

Integrated

 —

9.6%

492,000‌

Energy

Transfer

LP

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

6,902,760‌

77,000‌

Hess

Corp.

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

11,781,000‌

194,995‌

Kinder

Morgan

Inc.

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

3,233,017‌

1,646,500‌

National

Fuel

Gas

Co.

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

85,469,815‌

500,000‌

ONEOK

Inc.

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

31,715,000‌

348,000‌

UGI

Corp.

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

8,004,000‌

147,105,592‌

Natural

Gas

Utilities

 —

6.5%

71,000‌

Atmos

Energy

Corp.

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

7,521,030‌

107,000‌

CenterPoint

Energy

Inc.

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

2,872,950‌

2,500‌

Cheniere

Energy

Inc.

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

414,900‌

31,500‌

Chesapeake

Utilities

Corp.

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

3,079,125‌

100,000‌

Gulf

Coast

Ultra

Deep

Royalty

Trust

...........

1,475‌

14,000‌

New

Jersey

Resources

Corp.

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

568,820‌

435,000‌

Northwest

Natural

Holding

Co.

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

16,599,600‌

149,000‌

ONE

Gas

Inc.

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

10,173,720‌

87,000‌

RGC

Resources

Inc.

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

1,505,100‌

844,782‌

Southwest

Gas

Holdings

Inc.

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

51,033,281‌

106,500‌

Spire

Inc.

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

6,025,770‌

99,795,771‌

Natural

Resources

 —

2.3%

18,000‌

Alliance

Resource

Partners

LP

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

405,540‌

272,340‌

Cameco

Corp.

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

10,795,558‌

33,000‌

CNX

Resources

Corp.†

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

745,140‌

8,700‌

Diamondback

Energy

Inc.

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

1,347,456‌

4,300‌

EOG

Resources

Inc.

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

545,068‌

269,700‌

Mueller

Industries

Inc.

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

20,270,652‌

3,640‌

Occidental

Petroleum

Corp.

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

236,163‌

34,345,577‌

Oil

 —

0.2%

20,500‌

BP

plc,

ADR

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

793,760‌

21,500‌

Callon

Petroleum

Co.†

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

841,080‌

1,400‌

Chevron

Corp.

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

236,068‌

37,000‌

Devon

Energy

Corp.

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

1,764,900‌

3,635,808‌

Services

 —

1.7%

97,200‌

Dril-Quip

Inc.†

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

2,738,124‌

560,700‌

Enbridge

Inc.

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

18,609,633‌

19,785‌

Halliburton

Co.

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

801,293‌

Shares

Market

Value

94,000‌

MDU

Resources

Group

Inc.

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

$

1,840,520‌

6,970‌

Oceaneering

International

Inc.†

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

179,268‌

26,554‌

RPC

Inc.

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

237,393‌

24,000‌

Schlumberger

NV

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

1,399,200‌

25,805,431‌

Water

 —

3.5%

8,000‌

American

States

Water

Co.

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

629,440‌

100,799‌

American

Water

Works

Co.

Inc.

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

12,481,940‌

5,000‌

California

Water

Service

Group

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

236,550‌

7,997‌

Consolidated

Water

Co.

Ltd.

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

227,435‌

451,982‌

Essential

Utilities

Inc.

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

15,516,542‌

8,250‌

Middlesex

Water

Co.

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

546,562‌

480,000‌

Severn

Trent

plc

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

13,850,575‌

94,000‌

SJW

Group

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

5,650,340‌

86,993‌

The

York

Water

Co.

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

3,261,368‌

54,000‌

United

Utilities

Group

plc,

ADR

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

1,258,200‌

53,658,952‌

TOTAL

ENERGY

AND

UTILITIES

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

1,281,052,184‌

COMMUNICATIONS

 —

10.8%

Business

Services

 —

0.1%

727,000‌

Clear

Channel

Outdoor

Holdings

Inc.†

.......

1,148,660‌

Cable

and

Satellite

 —

2.9%

7,000‌

Altice

USA

Inc.,

Cl. A†

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

22,890‌

27,500‌

Charter

Communications

Inc.,

Cl. A†

.........

12,095,050‌

27,500‌

Cogeco

Communications

Inc.

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

1,272,906‌

75,000‌

Cogeco

Inc.

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

2,720,597‌

20,500‌

Comcast

Corp.,

Cl. A

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

908,970‌

90,000‌

DISH

Network

Corp.,

Cl. A†

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

527,400‌

284,000‌

EchoStar

Corp.,

Cl. A†

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

4,757,000‌

5,000‌

Liberty

Broadband

Corp.,

Cl. C†

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

456,600‌

346,366‌

Liberty

Global

plc,

Cl. A†

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

5,929,786‌

525,000‌

Liberty

Global

plc,

Cl. C†

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

9,744,000‌

220,000‌

Liberty

Latin

America

Ltd.,

Cl. A†

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

1,795,200‌

61,483‌

Liberty

Latin

America

Ltd.,

Cl. C†

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

501,701‌

87,000‌

Rogers

Communications

Inc.,

Cl. B

...........

3,339,930‌

38,000‌

TBS

Holdings

Inc.

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

639,394‌

44,711,424‌

Telecommunications

 —

7.0%

45,000‌

America

Movil

SAB

de

CV,

ADR

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

779,400‌

519,000‌

BCE

Inc.

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

19,810,230‌

75,000‌

Deutsche

Telekom

AG

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

1,575,408‌

550,000‌

Deutsche

Telekom

AG,

ADR

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

11,528,000‌

250,000‌

Eurotelesites

AG†

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

1,094,254‌

10,000‌

GCI

Liberty

Inc.,

Escrow†

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

0‌

1,448,000‌

Koninklijke

KPN

NV

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

4,774,871‌

13,950,000‌

Nippon

Telegraph

&

Telephone

Corp.

........

16,485,345‌

26,000‌

Orange

Belgium

SA†

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

377,692‌

270,000‌

Orascom

Investment

Holding,

GDR†

.........

3,780‌

250,000‌

Pharol

SGPS

SA†

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

11,048‌

26,000‌

PLDT

Inc.,

ADR

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

537,160‌

3

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

COMMUNICATIONS

(Continued)

Telecommunications

(Continued)

89,000‌

Proximus

SA

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

$

724,345‌

2,000‌

PT

Indosat

Tbk

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

1,272‌

1,750,000‌

Singapore

Telecommunications

Ltd.

..........

3,098,025‌

160,000‌

Sistema

PJSC

FC,

GDR†(a)

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

80,000‌

114,000‌

Swisscom

AG,

ADR

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

6,764,760‌

14,500‌

Tele2

AB,

Cl. B

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

111,057‌

210,000‌

Telefonica

Brasil

SA,

ADR

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

1,795,500‌

240,000‌

Telefonica

Deutschland

Holding

AG

...........

430,089‌

264,000‌

Telefonica

SA,

ADR

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

1,074,480‌

1,000,000‌

Telekom

Austria

AG

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

6,977,850‌

50,000‌

Telenet

Group

Holding

NV

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

1,119,628‌

490,000‌

Telephone

and

Data

Systems

Inc.

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

8,971,900‌

120,000‌

Telesat

Corp.†

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

1,716,000‌

10,000‌

TELUS

Corp.

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

163,298‌

34,000‌

TIM

SA,

ADR

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

506,600‌

15,000‌

VEON

Ltd.,

ADR†

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

292,500‌

500,000‌

Verizon

Communications

Inc.

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

16,205,000‌

107,009,492‌

Wireless

Communications

 —

0.8%

24,000‌

Anterix

Inc.†

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

753,120‌

200‌

Hutchison

Telecommunications

Hong

Kong

Holdings

Ltd.

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

27‌

20,000‌

Millicom

International

Cellular

SA†

...........

309,000‌

37,957‌

Millicom

International

Cellular

SA,

SDR†

...

589,737‌

6,000‌

Mobile

TeleSystems

PJSC,

ADR†(a)

..........

3,660‌

60,000‌

Operadora

De

Sites

Mexicanos

SAB

de

CV

49,543‌

75,000‌

SK

Telecom

Co.

Ltd.,

ADR

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

1,609,500‌

400‌

SmarTone

Telecommunications

Holdings

Ltd.

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

202‌

292,000‌

Turkcell

Iletisim

Hizmetleri

A/S,

ADR†

.......

1,381,160‌

135,000‌

United

States

Cellular

Corp.†

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

5,800,950‌

200,000‌

Vodafone

Group

plc,

ADR

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

1,896,000‌

12,392,899‌

TOTAL

COMMUNICATIONS

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

165,262,475‌

OTHER

 —

5.4%

Aerospace

 —

0.2%

5,942‌

Allient

Inc.

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

183,727‌

1,250,000‌

Rolls-Royce

Holdings

plc†

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

3,369,001‌

3,552,728‌

Building

and

Construction

 —

0.5%

11,500‌

Acciona

SA

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

1,467,516‌

16,800‌

Arcosa

Inc.

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

1,207,920‌

5,000‌

H&E

Equipment

Services

Inc.

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

215,950‌

66,000‌

Johnson

Controls

International

plc

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

3,511,860‌

17,000‌

Knife

River

Corp.†

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

830,110‌

7,233,356‌

Shares

Market

Value

Business

Services

 —

0.0%

6,000‌

V2X

Inc.†

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

$

309,960‌

Consumer

Products

 —

0.0%

8,000‌

Essity

AB,

Cl. A

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

173,172‌

Diversified

Industrial

 —

0.2%

1,000‌

Alstom

SA

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

23,894‌

53,000‌

Bouygues

SA

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

1,856,975‌

4,205‌

L.B.

Foster

Co.,

Cl. A†

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

79,516‌

114,500‌

Twin

Disc

Inc.†

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

1,570,940‌

3,531,325‌

Electronics

 —

0.8%

32,500‌

Corning

Inc.

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

990,275‌

5,800‌

Keysight

Technologies

Inc.†

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

767,398‌

1,130‌

Resideo

Technologies

Inc.†

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

17,854‌

300‌

Roper

Technologies

Inc.

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

145,284‌

127,000‌

Sony

Group

Corp.,

ADR

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

10,466,070‌

12,386,881‌

Entertainment

 —

0.1%

295,000‌

Grupo

Televisa

SAB,

ADR

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

899,750‌

Financial

Services

 —

0.1%

100,000‌

Kinnevik

AB,

Cl. A†

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

1,008,645‌

1,500,000‌

Orascom

Financial

Holding

SAE†

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

13,981‌

1,022,626‌

Health

Care

 —

0.0%

12,000‌

Tsumura

&

Co.

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

223,233‌

Machinery

 —

1.7%

73,200‌

Astec

Industries

Inc.

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

3,448,452‌

89,169‌

Flowserve

Corp.

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

3,546,251‌

57,192‌

The

Gorman-Rupp

Co.

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

1,881,617‌

2,200‌

Valmont

Industries

Inc.

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

528,462‌

177,661‌

Xylem

Inc.

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

16,172,481‌

25,577,263‌

Metals

and

Mining

 —

0.4%

71,000‌

Freeport-McMoRan

Inc.

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

2,647,590‌

14,500‌

Vulcan

Materials

Co.

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

2,929,290‌

5,576,880‌

Specialty

Chemicals

 —

0.0%

1,500‌

Air

Products

and

Chemicals

Inc.

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

425,100‌

Transportation

 —

1.4%

191,000‌

GATX

Corp.

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

20,786,530‌

TOTAL

OTHER

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

81,698,804‌

TOTAL

COMMON

STOCKS

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

1,528,013,463‌

4

The

Gabelli

Utilities

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

CLOSED-END

FUNDS

 —

0.0%

40,000‌

Altaba

Inc.,

Escrow†

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

$

93,600‌

RIGHTS

 —

0.0%

OTHER

 —

0.0%

Health

Care

 —

0.0%

21,000‌

ABIOMED

Inc.,

CVR†

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

36,750‌

Shares

Market

Value

WARRANTS

 —

0.0%

OTHER

 —

0.0%

Diversified

Industrial

 —

0.0%

428,750‌

SDCL

EDGE

Acquisition

Corp.,

expire

12/31/28†

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

$

53,872‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$882,226,284)

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

$

1,528,197,685‌

(a)

Security

is

valued

using

significant

unobservable

inputs

and

is

classified

as

Level

3

in

the

fair

value

hierarchy.

†

Non-income

producing

security.

ADR

American

Depositary

Receipt

CVR

Contingent

Value

Right

GDR

Global

Depositary

Receipt

SDR

Swedish

Depositary

Receipt