The Gabelli Asset Fund
Schedule of Investments — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS — 99.3% | ||||||||
Aerospace — 0.6% | ||||||||
126,950 | Aerojet Rocketdyne Holdings Inc. | $ | 5,961,572 | |||||
9,000 | HEICO Corp. | 1,132,200 | ||||||
10,500 | L3Harris Technologies Inc. | 2,128,140 | ||||||
4,850 | Lockheed Martin Corp. | 1,792,075 | ||||||
5,800 | Northrop Grumman Corp. | 1,877,112 | ||||||
156,800 | Rolls-Royce Holdings plc† | 227,621 | ||||||
1,575 | The Boeing Co.† | 401,184 | ||||||
|
| |||||||
13,519,904 | ||||||||
|
| |||||||
Agriculture — 0.4% | ||||||||
155,000 | Archer-Daniels-Midland Co. | 8,835,000 | ||||||
23,400 | The Mosaic Co. | 739,674 | ||||||
|
| |||||||
9,574,674 | ||||||||
|
| |||||||
Airlines — 0.0% | ||||||||
100,000 | American Airlines Group Inc., Escrow† | 6,000 | ||||||
|
| |||||||
Automotive — 0.9% | ||||||||
5,000 | Ferrari NV | 1,046,400 | ||||||
41,200 | General Motors Co.†. | 2,367,352 | ||||||
149,500 | Navistar International Corp.† | 6,582,485 | ||||||
88,000 | PACCAR Inc. | 8,176,960 | ||||||
17,000 | Traton SE | 458,526 | ||||||
2,900 | Volkswagen AG | 1,051,537 | ||||||
|
| |||||||
19,683,260 | ||||||||
|
| |||||||
Automotive: Parts and Accessories — 2.7% | ||||||||
92,550 | BorgWarner Inc. | 4,290,618 | ||||||
392,000 | Dana Inc. | 9,537,360 | ||||||
78,800 | Freni Brembo SpA† | 981,381 | ||||||
77,000 | Garrett Motion Inc.† | 399,630 | ||||||
264,850 | Genuine Parts Co. | 30,614,011 | ||||||
70,000 | Modine Manufacturing Co.† | 1,033,900 | ||||||
18,900 | O’Reilly Automotive Inc.† | 9,587,025 | ||||||
28,000 | Standard Motor Products Inc. | 1,164,240 | ||||||
146,300 | Tenneco Inc., Cl. A† | 1,568,336 | ||||||
|
| |||||||
59,176,501 | ||||||||
|
| |||||||
Aviation: Parts and Services — 0.4% | ||||||||
29,000 | Curtiss-Wright Corp. | 3,439,400 | ||||||
82,100 | Kaman Corp. | 4,210,909 | ||||||
362,000 | Signature Aviation plc† | 2,017,672 | ||||||
|
| |||||||
9,667,981 | ||||||||
|
| |||||||
Broadcasting — 2.1% | ||||||||
500 | Cogeco Communications Inc. | 46,948 | ||||||
17,400 | Cogeco Inc. | 1,342,349 | ||||||
37,400 | Corus Entertainment Inc., Cl. B | 170,544 | ||||||
29,750 | Liberty Broadband Corp., Cl. A† | 4,318,213 | ||||||
102,663 | Liberty Broadband Corp., Cl. C† | 15,414,849 | ||||||
32,350 | Liberty Media Corp.- | 1,236,417 |
Shares | Market Value | |||||||
51,100 | Liberty Media Corp.- | $ | 2,212,119 | |||||
50,000 | Liberty Media Corp.- | 2,204,000 | ||||||
258,147 | Liberty Media Corp.- | 11,386,864 | ||||||
264,650 | MSG Networks Inc., Cl. A† | 3,980,336 | ||||||
17,000 | Nexstar Media Group Inc., Cl. A | 2,387,310 | ||||||
39,600 | Sinclair Broadcast Group Inc., Cl. A | 1,158,696 | ||||||
16,000 | TBS Holdings Inc. | 313,859 | ||||||
2,800 | Television Broadcasts Ltd. | 2,914 | ||||||
|
| |||||||
46,175,418 | ||||||||
|
| |||||||
Building and Construction — 1.3% | ||||||||
62,950 | Arcosa Inc. | 4,097,415 | ||||||
35,800 | Assa Abloy AB, Cl. B | 1,028,895 | ||||||
102,500 | Fortune Brands Home & Security Inc. | 9,821,550 | ||||||
75,500 | Herc Holdings Inc.† | 7,650,415 | ||||||
72,000 | Johnson Controls | |||||||
International plc | 4,296,240 | |||||||
25,000 | KBR Inc. | 959,750 | ||||||
|
| |||||||
27,854,265 | ||||||||
|
| |||||||
Business Services — 3.2% | ||||||||
135,000 | Clear Channel Outdoor Holdings Inc.† | 243,000 | ||||||
14,000 | Diebold Nixdorf Inc.† | 197,820 | ||||||
21,450 | Ecolab Inc. | 4,591,801 | ||||||
46,900 | Fly Leasing Ltd., ADR† | 790,265 | ||||||
11,000 | IHS Markit Ltd. | 1,064,580 | ||||||
18,700 | Live Nation Entertainment Inc.† | 1,582,955 | ||||||
284,000 | Macquarie Infrastructure Corp. | 9,034,040 | ||||||
101,400 | Mastercard Inc., Cl. A | 36,103,470 | ||||||
135,000 | The Interpublic Group of Companies Inc. | 3,942,000 | ||||||
5,400 | United Rentals Inc.† | 1,778,274 | ||||||
20,000 | Vectrus Inc.† | 1,068,800 | ||||||
47,300 | Visa Inc., Cl. A | 10,014,829 | ||||||
|
| |||||||
70,411,834 | ||||||||
|
| |||||||
Cable and Satellite — 3.4% | ||||||||
50,000 | Altice USA Inc., Cl. A† | 1,626,500 | ||||||
43,400 | AMC Networks Inc., Cl. A† | 2,307,144 | ||||||
2,150 | Charter Communications Inc., Cl. A† | 1,326,593 | ||||||
449,150 | Comcast Corp., Cl. A | 24,303,507 | ||||||
266,749 | DISH Network Corp., Cl. A† | 9,656,314 | ||||||
49,600 | EchoStar Corp., Cl. A† | 1,190,400 | ||||||
130,000 | Liberty Global plc, Cl. A† | 3,335,800 | ||||||
164,400 | Liberty Global plc, Cl. C† | 4,198,776 | ||||||
857 | Liberty Latin America Ltd., Cl. A† | 10,995 | ||||||
95,650 | Liberty Latin America Ltd., Cl. C† | 1,241,537 | ||||||
9,700 | Naspers Ltd., Cl. N | 2,320,975 | ||||||
7,750 | Prosus NV | 861,583 | ||||||
338,200 | Rogers Communications Inc., Cl. B | 15,591,020 |
1
The Gabelli Asset Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Cable and Satellite (Continued) | ||||||||
202,150 | Shaw Communications Inc., Cl. B | $ | 5,300,373 | |||||
|
| |||||||
73,271,517 | ||||||||
|
| |||||||
Communications Equipment — 0.2% | ||||||||
81,950 | Corning Inc. | 3,565,645 | ||||||
2,245 | QUALCOMM Inc. | 297,664 | ||||||
|
| |||||||
3,863,309 | ||||||||
|
| |||||||
Computer Hardware — 0.2% | ||||||||
23,050 | Apple Inc. | 2,815,557 | ||||||
5,700 | Dell Technologies Inc., Cl. C† | 502,455 | ||||||
6,425 | Intel Corp. | 411,200 | ||||||
5,050 | International Business Machines Corp. | 672,963 | ||||||
4,550 | Western Digital Corp.† | 303,713 | ||||||
|
| |||||||
4,705,888 | ||||||||
|
| |||||||
Computer Software and Services — 1.4% | ||||||||
900 | Activision Blizzard Inc. | 83,700 | ||||||
600 | Alphabet Inc., Cl. A† | 1,237,512 | ||||||
8,000 | Alphabet Inc., Cl. C† | 16,549,040 | ||||||
2,600 | Alteryx Inc., Cl. A† | 215,696 | ||||||
550 | Baidu Inc., ADR† | 119,653 | ||||||
8,650 | Cisco Systems Inc. | 447,291 | ||||||
20,000 | Fidelity National Information Services Inc. | 2,812,200 | ||||||
30,000 | Hewlett Packard Enterprise Co. | 472,200 | ||||||
5,625 | Match Group Inc.† | 772,763 | ||||||
7,125 | Microsoft Corp. | 1,679,861 | ||||||
5,000 | NortonLifeLock Inc. | 106,300 | ||||||
2,950 | Oracle Corp. | 207,001 | ||||||
19,350 | Rockwell Automation Inc. | 5,136,264 | ||||||
1,250 | salesforce.com Inc.† | 264,837 | ||||||
1,400 | VMware Inc., Cl. A† | 210,630 | ||||||
|
| |||||||
30,314,948 | ||||||||
|
| |||||||
Consumer Products — 5.5% | ||||||||
27,000 | Brunswick Corp. | 2,574,990 | ||||||
10,700 | Christian Dior SE | 6,487,259 | ||||||
40,000 | Church & Dwight Co. Inc. | 3,494,000 | ||||||
400,100 | Edgewell Personal Care Co. | 15,843,960 | ||||||
262,950 | Energizer Holdings Inc. | 12,479,607 | ||||||
9,350 | Essity AB, Cl. A | 295,485 | ||||||
41,650 | Essity AB, Cl. B | 1,315,773 | ||||||
3,200 | Givaudan SA | 12,330,741 | ||||||
28,000 | Harley-Davidson Inc. | 1,122,800 | ||||||
1,950 | Hermes International | 2,158,706 | ||||||
3,500 | National Presto Industries Inc. | 357,245 | ||||||
33,925 | Reckitt Benckiser Group plc | 3,039,050 | ||||||
100,000 | Sally Beauty Holdings Inc.† | 2,013,000 | ||||||
9,300 | Svenska Cellulosa AB SCA, Cl. A† | 165,694 | ||||||
36,800 | Svenska Cellulosa AB SCA, Cl. B† | 651,225 | ||||||
667,400 | Swedish Match AB | 52,102,356 | ||||||
3,025 | Sysco Corp. | 238,189 |
Shares | Market Value | |||||||
3,700 | The Estee Lauder Companies Inc., Cl. A | $ | 1,076,145 | |||||
17,200 | The Procter & Gamble Co. | 2,329,396 | ||||||
32,150 | Wolverine World Wide Inc. | 1,231,988 | ||||||
|
| |||||||
121,307,609 | ||||||||
|
| |||||||
Consumer Services — 1.3% | ||||||||
3,750 | Allegion plc | 471,075 | ||||||
1,800 | FedEx Corp. | 511,272 | ||||||
46,730 | IAC/InterActiveCorp.† | 10,108,166 | ||||||
145,000 | Liberty TripAdvisor Holdings Inc., Cl. A† | 925,100 | ||||||
520,000 | Qurate Retail Inc., Cl. A | 6,115,200 | ||||||
234,000 | Rollins Inc. | 8,054,280 | ||||||
60,000 | Terminix Global Holdings Inc.† | 2,860,200 | ||||||
3,500 | Travel + Leisure Co. | 214,060 | ||||||
|
| |||||||
29,259,353 | ||||||||
|
| |||||||
Diversified Industrial — 5.2% | ||||||||
9,400 | ABB Ltd., ADR | 286,418 | ||||||
450 | Acuity Brands Inc. | 74,250 | ||||||
1,700 | Agilent Technologies Inc. | 216,138 | ||||||
42,500 | Colfax Corp.† | 1,861,925 | ||||||
215,050 | Crane Co. | 20,195,345 | ||||||
95,000 | Eaton Corp. plc | 13,136,600 | ||||||
9,000 | EnPro Industries Inc. | 767,430 | ||||||
13,000 | General Electric Co. | 170,690 | ||||||
128,450 | Greif Inc., Cl. A | 7,321,650 | ||||||
70,375 | Honeywell International Inc. | 15,276,301 | ||||||
1,500 | Hyster-Yale Materials Handling Inc. | 130,680 | ||||||
19,706 | Ingersoll Rand Inc.† | 969,732 | ||||||
187,600 | ITT Inc. | 17,054,716 | ||||||
15,200 | Jardine Matheson Holdings Ltd. | 993,928 | ||||||
112,800 | Jardine Strategic Holdings Ltd. | 3,724,656 | ||||||
238,150 | Myers Industries Inc. | 4,705,844 | ||||||
22,000 | nVent Electric plc | 614,020 | ||||||
28,000 | Pentair plc | 1,744,960 | ||||||
9,350 | Sulzer AG | 1,051,584 | ||||||
166,250 | Textron Inc. | 9,323,300 | ||||||
273,450 | Toray Industries Inc. | 1,759,613 | ||||||
22,800 | Trane Technologies plc | 3,774,768 | ||||||
212,500 | Trinity Industries Inc. | 6,054,125 | ||||||
12,000 | Vantage Towers AG† | 337,738 | ||||||
3,500 | Waters Corp.† | 994,595 | ||||||
2,600 | Westinghouse Air Brake Technologies Corp. | 205,816 | ||||||
|
| |||||||
112,746,822 | ||||||||
|
| |||||||
Electronics — 4.6% | ||||||||
850 | Analog Devices Inc. | 131,818 | ||||||
10,000 | Flex Ltd.† | 183,100 | ||||||
11,200 | Kyocera Corp., ADR | 717,696 | ||||||
1,450 | Mettler-Toledo International Inc.† | 1,675,751 | ||||||
288,650 | Resideo Technologies Inc.† | 8,154,363 | ||||||
2,190 | Samsung Electronics Co. Ltd., GDR | 3,994,560 | ||||||
579,850 | Sony Group Corp., ADR | 61,469,898 |
2
The Gabelli Asset Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Electronics (Continued) | ||||||||
33,000 | TE Connectivity Ltd. | $ | 4,260,630 | |||||
88,400 | Texas Instruments Inc. | 16,706,716 | ||||||
6,000 | Thermo Fisher Scientific Inc. | 2,738,280 | ||||||
|
| |||||||
100,032,812 | ||||||||
|
| |||||||
Energy and Utilities — 1.4% | ||||||||
49,000 | BP plc, ADR | 1,193,150 | ||||||
74,950 | Chevron Corp. | 7,854,011 | ||||||
4,500 | ConocoPhillips | 238,365 | ||||||
85,000 | Devon Energy Corp. | 1,857,250 | ||||||
27,000 | Enbridge Inc. | 982,800 | ||||||
79,200 | EOG Resources Inc. | 5,744,376 | ||||||
5,000 | Evergy Inc. | 297,650 | ||||||
2,000 | Eversource Energy | 173,180 | ||||||
10,000 | Exxon Mobil Corp. | 558,300 | ||||||
33,250 | Halliburton Co. | 713,545 | ||||||
59,000 | Kinder Morgan Inc. | 982,350 | ||||||
2,400 | Marathon Petroleum Corp. | 128,376 | ||||||
70,000 | National Fuel Gas Co. | 3,499,300 | ||||||
188,800 | PG&E Corp.† | 2,210,848 | ||||||
33,050 | Southwest Gas Holdings Inc. | 2,270,865 | ||||||
91,100 | The AES Corp. | 2,442,391 | ||||||
52 | Weatherford International plc† | 662 | ||||||
|
| |||||||
31,147,419 | ||||||||
|
| |||||||
Entertainment — 5.6% | ||||||||
161,750 | Discovery Inc., Cl. A† | 7,029,655 | ||||||
494,200 | Discovery Inc., Cl. C† | 18,231,038 | ||||||
178,150 | Fox Corp., Cl. A | 6,432,997 | ||||||
20,000 | Fox Corp., Cl. B | 698,600 | ||||||
630,900 | Grupo Televisa SAB, ADR† | 5,589,774 | ||||||
49,200 | Liberty Media Corp.- | |||||||
Liberty Braves, Cl. A† | 1,402,692 | |||||||
143,771 | Liberty Media Corp.- | |||||||
Liberty Braves, Cl. C† | 3,999,709 | |||||||
131,533 | Madison Square Garden Entertainment Corp.† | 10,759,399 | ||||||
126,033 | Madison Square Garden Sports Corp.† | 22,617,882 | ||||||
153,130 | The Walt Disney Co.† | 28,255,548 | ||||||
364,241 | ViacomCBS Inc., Cl. A | 17,181,248 | ||||||
20,000 | ViacomCBS Inc., Cl. B | 902,000 | ||||||
|
| |||||||
123,100,542 | ||||||||
|
| |||||||
Environmental Services — 2.1% | ||||||||
310,850 | Republic Services Inc. | 30,882,947 | ||||||
20,000 | Stericycle Inc.† | 1,350,200 | ||||||
82,000 | Waste Connections Inc. | 8,854,360 | ||||||
45,200 | Waste Management Inc. | 5,831,704 | ||||||
|
| |||||||
46,919,211 | ||||||||
|
| |||||||
Equipment and Supplies — 9.2% | ||||||||
524,350 | AMETEK Inc. | 66,975,225 | ||||||
22,400 | Amphenol Corp., Cl. A | 1,477,728 |
Shares | Market Value | |||||||
10,350 | AZZ Inc. | $ | 521,123 | |||||
38,000 | CIRCOR International Inc.† | 1,323,160 | ||||||
100,650 | Crown Holdings Inc. | 9,767,076 | ||||||
145,050 | CTS Corp. | 4,505,253 | ||||||
5,400 | Danaher Corp. | 1,215,432 | ||||||
401,300 | Donaldson Co. Inc. | 23,339,608 | ||||||
395,550 | Flowserve Corp. | 15,351,295 | ||||||
110,000 | Graco Inc. | 7,878,200 | ||||||
10,000 | Hubbell Inc. | 1,868,900 | ||||||
117,600 | IDEX Corp. | 24,616,032 | ||||||
41,650 | Interpump Group SpA | 2,099,270 | ||||||
10,200 | Lawson Products Inc.† | 528,972 | ||||||
119,000 | Mueller Industries Inc. | 4,920,650 | ||||||
146,400 | Sealed Air Corp. | 6,708,048 | ||||||
21,700 | The Manitowoc Co. Inc.† | 447,454 | ||||||
47,150 | The Timken Co. | 3,827,165 | ||||||
17,650 | The Toro Co. | 1,820,421 | ||||||
72,550 | The Weir Group plc† | 1,777,310 | ||||||
21,350 | Valmont Industries Inc. | 5,074,255 | ||||||
127,700 | Watts Water Technologies Inc., Cl. A | 15,172,037 | ||||||
|
| |||||||
201,214,614 | ||||||||
|
| |||||||
Financial Services — 9.6% | ||||||||
9,500 | Alleghany Corp.† | 5,949,755 | ||||||
46,650 | AllianceBernstein Holding LP | 1,865,533 | ||||||
197,900 | American Express Co. | 27,990,976 | ||||||
2,600 | Ameriprise Financial Inc. | 604,370 | ||||||
20,000 | Argo Group International Holdings Ltd. | 1,006,400 | ||||||
21,400 | Bank of America Corp. | 827,966 | ||||||
108 | Berkshire Hathaway Inc., Cl. A† | 41,655,816 | ||||||
23,300 | Citigroup Inc. | 1,695,075 | ||||||
53,350 | GAM Holding AG† | 140,438 | ||||||
125,000 | Gores Holdings V Inc., Cl. A† | 1,247,500 | ||||||
42,500 | Interactive Brokers Group Inc., Cl. A | 3,104,200 | ||||||
32,700 | Jefferies Financial Group Inc. | 984,270 | ||||||
96,950 | JPMorgan Chase & Co. | 14,758,699 | ||||||
59,001 | Kinnevik AB, Cl. A | 3,053,599 | ||||||
40,000 | Kinnevik AB, Cl. B | 1,944,707 | ||||||
132,050 | KKR & Co. Inc. | 6,450,643 | ||||||
1,500 | LendingTree Inc.† | 319,500 | ||||||
35,000 | Loews Corp. | 1,794,800 | ||||||
16,932 | M&T Bank Corp. | 2,567,060 | ||||||
40,000 | Marsh & McLennan Companies Inc. | 4,872,000 | ||||||
45,800 | PayPal Holdings Inc.† | 11,122,072 | ||||||
14,000 | Popular Inc. | 984,480 | ||||||
21,500 | PROG Holdings Inc.† | 930,735 | ||||||
20,000 | Seven Oaks Acquisition Corp., Cl. A† | 195,000 | ||||||
50,000 | Software Acquisition Group Inc. II, Cl. A† | 503,500 | ||||||
140,800 | State Street Corp. | 11,828,608 | ||||||
9,750 | T. Rowe Price Group Inc. | 1,673,100 | ||||||
394,200 | The Bank of New York Mellon Corp. | 18,641,718 | ||||||
85,950 | The Blackstone Group Inc., Cl. A | 6,405,853 |
3
The Gabelli Asset Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Financial Services (Continued) | ||||||||
27,175 | The Goldman Sachs Group Inc. | $ | 8,886,225 | |||||
20,000 | The Hartford Financial Services Group Inc. | 1,335,800 | ||||||
104,050 | The PNC Financial Services Group Inc. | 18,251,411 | ||||||
9,000 | Value Line Inc. | 253,710 | ||||||
165,700 | Wells Fargo & Co. | 6,473,899 | ||||||
|
| |||||||
210,319,418 | ||||||||
|
| |||||||
Food and Beverage — 12.8% | ||||||||
737,400 | Brown-Forman Corp., Cl. A | 46,950,258 | ||||||
85,450 | Brown-Forman Corp., Cl. B | 5,893,487 | ||||||
22,000 | Campbell Soup Co. | 1,105,940 | ||||||
792,300 | China Mengniu Dairy Co. Ltd. | 4,535,232 | ||||||
33,300 | Chr. Hansen Holding A/S† | 3,025,913 | ||||||
23,400 | Coca-Cola European Partners plc | 1,220,544 | ||||||
15,400 | Coca-Cola HBC AG | 490,423 | ||||||
414,000 | Conagra Brands Inc | 15,566,400 | ||||||
23,800 | Constellation Brands Inc., Cl. A | 5,426,400 | ||||||
35,000 | Crimson Wine Group Ltd.† | 232,750 | ||||||
112,100 | Danone SA | 7,690,391 | ||||||
85,000 | Davide Campari-Milano NV | 952,139 | ||||||
198,400 | Diageo plc, ADR | 32,579,264 | ||||||
52,100 | Farmer Brothers Co.† | 543,924 | ||||||
253,500 | Flowers Foods Inc | 6,033,300 | ||||||
36,000 | Fomento Economico Mexicano SAB de CV, ADR | 2,711,880 | ||||||
88,450 | General Mills Inc | 5,423,754 | ||||||
1,667,600 | Grupo Bimbo SAB de CV, Cl. A | 3,500,088 | ||||||
10,000 | Heineken Holding NV | 890,079 | ||||||
77,300 | Heineken NV | 7,942,728 | ||||||
19,350 | Heineken NV, ADR | 998,460 | ||||||
132,050 | ITO EN Ltd. | 8,097,715 | ||||||
11,000 | John Bean Technologies Corp. | 1,466,740 | ||||||
25,500 | Kellogg Co. | 1,614,150 | ||||||
61,750 | Kerry Group plc, Cl. A | 7,770,046 | ||||||
201,700 | Kikkoman Corp. | 12,004,543 | ||||||
15,000 | Lamb Weston Holdings Inc. | 1,162,200 | ||||||
18,800 | LVMH Moet Hennessy Louis Vuitton SE | 12,524,764 | ||||||
60,000 | Maple Leaf Foods Inc. | 1,367,868 | ||||||
18,500 | MEIJI Holdings Co. Ltd. | 1,189,614 | ||||||
167,000 | Mondele¯z International Inc., Cl. A | 9,774,510 | ||||||
44,000 | Morinaga Milk Industry Co. Ltd. | 2,312,757 | ||||||
13,000 | National Beverage Corp. | 635,830 | ||||||
42,000 | Nestlé SA | 4,681,035 | ||||||
106,250 | Nissin Foods Holdings Co. Ltd. | 7,878,189 | ||||||
36,000 | Nomad Foods Ltd.†. | 988,560 | ||||||
59,250 | PepsiCo Inc. | 8,380,913 | ||||||
52,900 | Pernod Ricard SA | 9,928,835 | ||||||
73,300 | Post Holdings Inc.†. | 7,749,276 | ||||||
77,350 | Remy Cointreau SA. | 14,286,564 | ||||||
16,450 | Suntory Beverage & Food Ltd. | 611,350 | ||||||
32,550 | The Coca-Cola Co. | 1,715,711 |
Shares | Market Value | |||||||
4,250 | The Hain Celestial Group Inc.† | $ | 185,300 | |||||
20,600 | The J.M. Smucker Co. | 2,606,518 | ||||||
20,000 | The Kraft Heinz Co. | 800,000 | ||||||
229,800 | Tingyi (Cayman Islands) Holding Corp. | 422,112 | ||||||
27,365 | Tootsie Roll Industries Inc. | 906,594 | ||||||
1,500 | Tyson Foods Inc., Cl. A | 111,450 | ||||||
126,100 | Yakult Honsha Co. Ltd. | 6,377,602 | ||||||
|
| |||||||
281,264,100 | ||||||||
|
| |||||||
Health Care — 5.5% | ||||||||
13,000 | Abbott Laboratories | 1,557,920 | ||||||
22,300 | AbbVie Inc. | 2,413,306 | ||||||
10,000 | Alexion Pharmaceuticals Inc.† | 1,529,100 | ||||||
26,500 | AmerisourceBergen Corp. | 3,128,855 | ||||||
28,500 | Amgen Inc. | 7,091,085 | ||||||
6,000 | Anthem Inc. | 2,153,700 | ||||||
45,000 | Aurinia Pharmaceuticals Inc.† | 584,325 | ||||||
79,000 | Bausch Health Cos. Inc.† | 2,507,460 | ||||||
36,100 | Baxter International Inc. | 3,044,674 | ||||||
5,100 | Bayer AG, ADR | 80,988 | ||||||
13,000 | Becton, Dickinson and Co. | 3,160,950 | ||||||
7,615 | Biogen Inc.†. | 2,130,296 | ||||||
3,850 | BioMarin Pharmaceutical Inc.† | 290,713 | ||||||
7,205 | Bio-Rad Laboratories Inc., Cl. A† | 4,115,280 | ||||||
138,750 | Bristol-Myers Squibb Co. | 8,759,287 | ||||||
15,000 | Cardiovascular Systems Inc.† | 575,100 | ||||||
7,800 | Chemed Corp. | 3,586,596 | ||||||
20,000 | Cigna Corp. | 4,834,800 | ||||||
9,400 | CONMED Corp. | 1,227,546 | ||||||
10,450 | Covetrus Inc.† | 313,187 | ||||||
17,500 | DaVita Inc.† | 1,885,975 | ||||||
114,800 | Demant A/S† | 4,862,927 | ||||||
10,000 | DENTSPLY SIRONA Inc. | 638,100 | ||||||
11,000 | Elanco Animal Health Inc.† | 323,950 | ||||||
100,000 | Evolent Health Inc., Cl. A† | 2,020,000 | ||||||
10,000 | Gerresheimer AG | 993,277 | ||||||
16,200 | HCA Healthcare Inc. | 3,051,108 | ||||||
86,300 | Henry Schein Inc.† | 5,975,412 | ||||||
2,500 | ICU Medical Inc.† | 513,600 | ||||||
875 | Illumina Inc.† | 336,053 | ||||||
27,000 | Indivior plc† | 47,272 | ||||||
18,000 | Integer Holdings Corp.† | 1,657,800 | ||||||
38,350 | Johnson & Johnson | 6,302,823 | ||||||
2,500 | Koninklijke Philips NV† | 142,575 | ||||||
11,000 | Laboratory Corp. of America Holdings† | 2,805,330 | ||||||
10,000 | McKesson Corp. | 1,950,400 | ||||||
24,300 | Medtronic plc | 2,870,559 | ||||||
69,450 | Merck & Co. Inc. | 5,353,901 | ||||||
90,000 | Option Care Health Inc.† | 1,596,600 | ||||||
15,000 | Orthofix Medical Inc.† | 650,250 | ||||||
22,500 | Perrigo Co. plc | 910,575 | ||||||
29,372 | PetIQ Inc.† | 1,035,657 |
4
The Gabelli Asset Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Health Care (Continued) | ||||||||
14,910 | Quidel Corp.† | $ | 1,907,436 | |||||
3,045 | Regeneron Pharmaceuticals Inc.† | 1,440,711 | ||||||
45,000 | Roche Holding AG, ADR | 1,825,200 | ||||||
3,400 | Sanofi, ADR | 168,164 | ||||||
6,900 | Stryker Corp. | 1,680,702 | ||||||
65,442 | Takeda Pharmaceutical Co. Ltd., ADR | 1,194,971 | ||||||
22,314 | Tenet Healthcare Corp.† | 1,160,328 | ||||||
4,000 | The Cooper Companies Inc. | 1,536,360 | ||||||
50,000 | Trillium Therapeutics Inc.† | 537,000 | ||||||
4,000 | UnitedHealth Group Inc. | 1,488,280 | ||||||
40,000 | Viatris Inc.† | 558,800 | ||||||
36,800 | Zimmer Biomet Holdings Inc. | 5,890,944 | ||||||
7,000 | Zoetis Inc. | 1,102,360 | ||||||
|
| |||||||
119,500,568 | ||||||||
|
| |||||||
Hotels and Gaming — 1.3% | ||||||||
10,950 | Accor SA† | 412,969 | ||||||
9,050 | Churchill Downs Inc. | 2,058,151 | ||||||
40,000 | Entain plc† | 837,086 | ||||||
350,000 | Genting Singapore Ltd. | 239,370 | ||||||
12,500 | Hyatt Hotels Corp., Cl. A† | 1,033,750 | ||||||
1,100 | Las Vegas Sands Corp.† | 66,836 | ||||||
4,044,100 | Mandarin Oriental International Ltd.† | 7,198,498 | ||||||
256,500 | MGM Resorts International | 9,744,435 | ||||||
15,000 | Red Rock Resorts Inc., Cl. A† | 488,850 | ||||||
25,100 | Ryman Hospitality Properties Inc., REIT† | 1,945,501 | ||||||
1,940,700 | The Hongkong & Shanghai Hotels Ltd. | 1,929,691 | ||||||
21,000 | Universal Entertainment Corp.† | 511,700 | ||||||
3,750 | Wyndham Hotels & Resorts Inc. | 261,675 | ||||||
9,250 | Wynn Resorts Ltd.† | 1,159,673 | ||||||
|
| |||||||
27,888,185 | ||||||||
|
| |||||||
Machinery — 6.4% | ||||||||
110,550 | Caterpillar Inc. | 25,633,229 | ||||||
1,473,050 | CNH Industrial NV† | 23,038,502 | ||||||
91,550 | CNH Industrial NV, Borsa ltaliana† | 1,416,624 | ||||||
175,700 | Deere & Co. | 65,736,398 | ||||||
19,300 | Mueller Water Products Inc., Cl. A | 268,077 | ||||||
89,950 | Welbilt Inc.† | 1,461,687 | ||||||
220,800 | Xylem Inc. | 23,223,744 | ||||||
|
| |||||||
140,778,261 | ||||||||
|
| |||||||
Manufactured Housing and Recreational Vehicles — 0.4% |
| |||||||
28,900 | �� | Cavco Industries Inc.† | 6,520,129 | |||||
1,025 | Nobility Homes Inc. | 31,775 | ||||||
27,900 | Skyline Champion Corp.† | 1,262,754 | ||||||
|
| |||||||
7,814,658 | ||||||||
|
| |||||||
Metals and Mining — 2.9% | ||||||||
49,850 | Agnico Eagle Mines Ltd. | 2,881,829 | ||||||
147,400 | Barrick Gold Corp. | 2,918,520 | ||||||
10,000 | Cleveland-Cliffs Inc.† | 201,100 |
Shares | Market Value | |||||||
71,100 | Franco-Nevada Corp. | $ | 8,908,119 | |||||
126,550 | Freeport-McMoRan Inc.† | 4,167,291 | ||||||
28,000 | Kinross Gold Corp. | 186,760 | ||||||
15,000 | MP Materials Corp.† | 539,250 | ||||||
476,700 | Newmont Corp. | 28,730,709 | ||||||
106,500 | Royal Gold Inc. | 11,461,530 | ||||||
77,750 | Wheaton Precious Metals Corp. | 2,970,827 | ||||||
|
| |||||||
62,965,935 | ||||||||
|
| |||||||
Publishing — 1.7% | ||||||||
8,500 | Meredith Corp.† | 253,130 | ||||||
102,200 | News Corp., Cl. A | 2,598,946 | ||||||
89,700 | S&P Global Inc. | 31,652,439 | ||||||
132,050 | The E.W. Scripps Co., Cl. A | 2,544,603 | ||||||
|
| |||||||
37,049,118 | ||||||||
|
| |||||||
Real Estate — 0.8% | ||||||||
23,100 | Brookfield Asset Management Inc., Cl. A | 1,027,950 | ||||||
8,500 | Host Hotels & Resorts Inc., REIT† | 143,225 | ||||||
106,968 | Indus Realty Trust Inc., REIT | 6,435,195 | ||||||
200,000 | The St. Joe Co. | 8,580,000 | ||||||
61,400 | Weyerhaeuser Co., REIT | 2,185,840 | ||||||
|
| |||||||
18,372,210 | ||||||||
|
| |||||||
Retail — 1.9% | ||||||||
12,000 | Advance Auto Parts Inc. | 2,201,880 | ||||||
67,650 | AutoNation Inc.† | 6,306,333 | ||||||
1,400 | AutoZone Inc.† | 1,966,020 | ||||||
13,000 | CarMax Inc.† | 1,724,580 | ||||||
31,500 | Costco Wholesale Corp. | 11,103,120 | ||||||
115,800 | CVS Health Corp. | 8,711,634 | ||||||
1,700 | Dollar Tree Inc.† | 194,582 | ||||||
1,150 | Lowe’s Companies Inc. | 218,707 | ||||||
300 | McDonald’s Corp. | 67,242 | ||||||
12,000 | Rush Enterprises Inc., Cl. B | 541,080 | ||||||
10,000 | The Aaron’s Co. Inc. | 256,800 | ||||||
11,550 | The Home Depot Inc. | 3,525,637 | ||||||
115,950 | The Kroger Co. | 4,173,041 | ||||||
8,000 | Walgreens Boots Alliance Inc. | 439,200 | ||||||
1,825 | Walmart Inc. | 247,890 | ||||||
|
| |||||||
41,677,746 | ||||||||
|
| |||||||
Specialty Chemicals — 1.4% | ||||||||
1,400 | Air Products and Chemicals Inc. | 393,876 | ||||||
10,000 | Ashland Global Holdings Inc. | 887,700 | ||||||
500 | Covestro AG | 33,621 | ||||||
177,000 | DuPont de Nemours Inc. | 13,678,560 | ||||||
298,800 | Ferro Corp.† | 5,037,768 | ||||||
1,500 | FMC Corp. | 165,915 | ||||||
54,000 | H.B. Fuller Co. | 3,397,140 | ||||||
32,350 | International Flavors & Fragrances Inc. | 4,516,383 | ||||||
41,200 | Sensient Technologies Corp. | 3,213,600 |
5
The Gabelli Asset Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Specialty Chemicals (Continued) | ||||||||
500 | SGL Carbon SE† | $ | 3,541 | |||||
|
| |||||||
31,328,104 | ||||||||
|
| |||||||
Telecommunications — 1.6% | ||||||||
10,400 | AT&T Inc. | 314,808 | ||||||
158,250 | Deutsche Telekom AG, ADR | 3,202,980 | ||||||
14,000 | Hellenic Telecommunications Organization SA | 224,595 | ||||||
23,400 | Hellenic Telecommunications Organization SA, ADR | 185,562 | ||||||
111,700 | Loral Space & Communications Inc. | 4,207,739 | ||||||
5,600 | Orange SA, ADR | 69,048 | ||||||
13,150 | SoftBank Group Corp., ADR | 559,664 | ||||||
2,676,400 | Telecom Italia SpA | 1,447,529 | ||||||
121,200 | Telecom Italia SpA, ADR | 660,540 | ||||||
37,400 | Telefonica Brasil SA, ADR | 294,338 | ||||||
300,000 | Telefonica SA, ADR | 1,359,000 | ||||||
809,350 | Telephone and Data Systems Inc. | 18,582,676 | ||||||
215,000 | Telesites SAB de CV† | 222,684 | ||||||
18,700 | TIM SA, ADR | 212,245 | ||||||
88,250 | VEON Ltd., ADR† | 156,203 | ||||||
66,850 | Verizon Communications Inc. | 3,887,327 | ||||||
|
| |||||||
35,586,938 | ||||||||
|
| |||||||
Transportation — 1.0% | ||||||||
222,050 | GATX Corp. | 20,592,917 | ||||||
3,700 | Kansas City Southern | 976,504 | ||||||
900 | Union Pacific Corp. | 198,369 | ||||||
|
| |||||||
21,767,790 | ||||||||
|
| |||||||
Wireless Communications — 0.3% | ||||||||
103,750 | America Movil SAB de CV, Cl. L, ADR | 1,408,925 | ||||||
25,535 | T-Mobile US Inc.† | 3,199,280 | ||||||
35,600 | United States Cellular Corp.† | 1,298,688 | ||||||
|
| |||||||
5,906,893 | ||||||||
|
| |||||||
TOTAL COMMON STOCKS | 2,176,173,805 | |||||||
|
| |||||||
CLOSED-END FUNDS — 0.1% | ||||||||
2,000 | Altaba Inc., Escrow† | 29,100 | ||||||
10,700 | Royce Global Value Trust Inc. | 152,047 | ||||||
81,700 | Royce Value Trust Inc. | 1,479,587 | ||||||
|
| |||||||
TOTAL CLOSED-END FUNDS | 1,660,734 | |||||||
|
| |||||||
MANDATORY CONVERTIBLE SECURITIES (a) — 0.0% |
| |||||||
Diversified Industrial — 0.0% | ||||||||
15,000 | Avantor Inc., Ser. A | 1,354,050 | ||||||
|
|
Shares | Market Value | |||||||
PREFERRED STOCKS — 0.1% | ||||||||
Consumer Services — 0.1% | ||||||||
17,000 | Qurate Retail Inc., | $ | 1,728,050 | |||||
|
| |||||||
Electronics — 0.0% | ||||||||
95 | WESCO International Inc., | 2,924 | ||||||
|
| |||||||
Health Care — 0.0% | ||||||||
31,580 | The Phoenix Companies Inc., 7.450%, 01/15/32 | 540,413 | ||||||
|
| |||||||
TOTAL PREFERRED STOCKS | 2,271,387 | |||||||
|
| |||||||
WARRANTS — 0.0% | ||||||||
Energy and Utilities — 0.0% | ||||||||
1,694 | Weatherford International plc, expire 12/13/23† | 728 | ||||||
|
| |||||||
Principal | ||||||||
U.S. GOVERNMENT OBLIGATIONS — 0.5% | ||||||||
U.S. Cash Management Bill — 0.0% | ||||||||
$ | 245,000 | 0.005%††, 04/20/2021 | 244,998 | |||||
|
| |||||||
U.S. Treasury Bills — 0.5% | ||||||||
10,036,000 | 0.004% to 0.035%†††, 05/20/21 to 06/24/21 | 10,035,802 | ||||||
|
| |||||||
TOTAL U.S. GOVERNMENT OBLIGATIONS | $ | 10,280,800 | ||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% | $ | 2,191,741,504 | ||||||
|
|
(a) | Mandatory convertible securities are required to be converted on the dates listed; they generally may be converted prior to these dates at the option of the holder. |
† | Non-income producing security. |
†† | Represents annualized yield at date of purchase. |
††† | Represents annualized yields at dates of purchase. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
REIT | Real Estate Investment Trust |
6