Gabelli Asset Fund (GABAX) NPORT-P The Gabelli Asset Fund (Sep 2022 report)

1

The

Gabelli

Asset

Fund

Schedule

of

Investments

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

 —

98.7%

Aerospace

 —

0.7%

79,000‌

Aerojet

Rocketdyne

Holdings

Inc.†

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

$

3,159,210‌

9,000‌

HEICO

Corp.

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

1,295,820‌

12,375‌

L3Harris

Technologies

Inc.

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

2,571,896‌

4,850‌

Lockheed

Martin

Corp.

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

1,873,507‌

5,800‌

Northrop

Grumman

Corp.

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

2,727,856‌

2,600‌

Raytheon

Technologies

Corp.

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

212,836‌

156,800‌

Rolls-Royce

Holdings

plc†

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

121,835‌

1,805‌

The

Boeing

Co.†

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

218,549‌

12,181,509‌

Agriculture

 —

0.7%

10,000‌

American

Vanguard

Corp.

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

187,000‌

128,000‌

Archer-Daniels-Midland

Co.

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

10,297,600‌

21,934‌

The

Mosaic

Co.

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

1,060,070‌

11,544,670‌

Airlines

 —

0.0%

66‌

American

Airlines

Group

Inc.†

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

795‌

Automotive

 —

0.8%

5,000‌

Ferrari

NV

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

925,000‌

54,700‌

General

Motors

Co.

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

1,755,323‌

306,050‌

Iveco

Group

NV†

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

1,460,729‌

87,500‌

PACCAR

Inc.

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

7,322,875‌

40,000‌

Traton

SE

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

479,832‌

2,900‌

Volkswagen

AG

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

479,328‌

12,423,087‌

Automotive:

Parts

and

Accessories

 —

3.7%

2,500‌

Aptiv

plc†

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

195,525‌

82,550‌

BorgWarner

Inc.

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

2,592,070‌

78,814‌

Brembo

SpA

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

656,168‌

430,700‌

Dana

Inc.

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

4,922,901‌

91,600‌

Garrett

Motion

Inc.†

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

517,540‌

900‌

Gentherm

Inc.†

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

44,757‌

247,600‌

Genuine

Parts

Co.

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

36,971,632‌

85,000‌

Modine

Manufacturing

Co.†

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

1,099,900‌

13,000‌

Monro

Inc.

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

564,980‌

18,900‌

O'Reilly

Automotive

Inc.†

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

13,293,315‌

28,000‌

Standard

Motor

Products

Inc.

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

910,000‌

61,768,788‌

Aviation:

Parts

and

Services

 —

0.3%

20,000‌

Curtiss-Wright

Corp.

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

2,783,200‌

78,000‌

Kaman

Corp.

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

2,178,540‌

4,961,740‌

Broadcasting

 —

1.7%

1,000‌

Cogeco

Communications

Inc.

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

52,203‌

17,400‌

Cogeco

Inc.

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

694,060‌

37,400‌

Corus

Entertainment

Inc.,

Cl. B

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

64,029‌

29,750‌

Liberty

Broadband

Corp.,

Cl. A†

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

2,219,350‌

68,663‌

Liberty

Broadband

Corp.,

Cl. C†

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

5,067,329‌

Shares

Market

Value

32,350‌

Liberty

Media

Corp.-

Liberty

Formula

One,

Cl. A†

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

$

1,699,022‌

39,100‌

Liberty

Media

Corp.-

Liberty

Formula

One,

Cl. C†

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

2,287,350‌

50,000‌

Liberty

Media

Corp.-

Liberty

SiriusXM,

Cl. A†

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

1,903,500‌

233,147‌

Liberty

Media

Corp.-

Liberty

SiriusXM,

Cl. C†

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

8,791,973‌

17,000‌

Nexstar

Media

Group

Inc.

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

2,836,450‌

107,500‌

Sinclair

Broadcast

Group

Inc.,

Cl. A

...........

1,944,675‌

16,000‌

TBS

Holdings

Inc.

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

175,002‌

27,734,943‌

Building

and

Construction

 —

0.9%

58,950‌

Arcosa

Inc.

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

3,370,761‌

450‌

Ashtead

Group

plc

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

20,530‌

35,200‌

Assa

Abloy

AB,

Cl. B

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

665,135‌

47,500‌

Fortune

Brands

Home

&

Security

Inc.

.......

2,550,275‌

58,300‌

Herc

Holdings

Inc.

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

6,056,204‌

35,000‌

Johnson

Controls

International

plc

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

1,722,700‌

20,000‌

KBR

Inc.

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

864,400‌

96,750‌

Sitios

Latinoamerica

SAB

de

CV†

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

44,053‌

15,294,058‌

Business

Services

 —

2.4%

120,000‌

Clear

Channel

Outdoor

Holdings

Inc.†

.......

164,400‌

14,500‌

Diebold

Nixdorf

Inc.†

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

35,380‌

20,600‌

Ecolab

Inc.

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

2,975,052‌

12,200‌

Live

Nation

Entertainment

Inc.†

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

927,688‌

81,400‌

Mastercard

Inc.,

Cl. A

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

23,145,276‌

120,000‌

The

Interpublic

Group

of

Companies

Inc.

..

3,072,000‌

2,700‌

United

Rentals

Inc.†

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

729,324‌

18,000‌

V2X

Inc.†

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

637,200‌

41,800‌

Visa

Inc.,

Cl. A

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

7,425,770‌

39,112,090‌

Cable

and

Satellite

 —

2.6%

39,000‌

AMC

Networks

Inc.,

Cl. A†

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

791,700‌

2,150‌

Charter

Communications

Inc.,

Cl. A†

.........

652,203‌

404,550‌

Comcast

Corp.,

Cl. A

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

11,865,451‌

273,899‌

DISH

Network

Corp.,

Cl. A†

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

3,788,023‌

63,600‌

EchoStar

Corp.,

Cl. A†

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

1,047,492‌

130,250‌

Liberty

Global

plc,

Cl. A†

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

2,030,597‌

313,900‌

Liberty

Global

plc,

Cl. C†

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

5,179,350‌

857‌

Liberty

Latin

America

Ltd.,

Cl. A†

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

5,305‌

650‌

Liberty

Latin

America

Ltd.,

Cl. C†

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

3,998‌

7,850‌

Naspers

Ltd.,

Cl. N

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

981,593‌

7,250‌

Prosus

NV

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

383,476‌

335,900‌

Rogers

Communications

Inc.,

Cl. B

...........

12,945,586‌

160,000‌

Shaw

Communications

Inc.,

Cl. B

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

3,891,200‌

43,565,974‌

Communications

Equipment

 —

0.2%

79,950‌

Corning

Inc.

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

2,320,149‌

2

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Communications

Equipment

(Continued)

2,550‌

QUALCOMM

Inc.

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

$

288,099‌

2,608,248‌

Computer

Hardware

 —

0.2%

12,155‌

Apple

Inc.

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

1,679,821‌

1,350‌

Dell

Technologies

Inc.,

Cl. C

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

46,129‌

7,750‌

Intel

Corp.

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

199,718‌

5,650‌

International

Business

Machines

Corp.

......

671,277‌

2,600‌

Western

Digital

Corp.†

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

84,630‌

2,681,575‌

Computer

Software

and

Services

 —

1.5%

15,600‌

Activision

Blizzard

Inc.

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

1,159,704‌

11,900‌

Alphabet

Inc.,

Cl. A†

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

1,138,235‌

111,000‌

Alphabet

Inc.,

Cl. C†

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

10,672,650‌

15,000‌

Black

Knight

Inc.†

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

970,950‌

8,300‌

Cisco

Systems

Inc.

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

332,000‌

9,000‌

Fidelity

National

Information

Services

Inc.

.

680,130‌

23,000‌

Hewlett

Packard

Enterprise

Co.

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

275,540‌

5,300‌

IonQ

Inc.†

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

26,871‌

11,800‌

Meta

Platforms

Inc.,

Cl. A†

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

1,601,024‌

11,725‌

Microsoft

Corp.

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

2,730,753‌

6,400‌

NortonLifeLock

Inc.

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

128,896‌

4,550‌

Oracle

Corp.

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

277,868‌

32,000‌

PAR

Technology

Corp.†

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

944,960‌

14,900‌

Rockwell

Automation

Inc.

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

3,205,139‌

1,450‌

Salesforce

Inc.†

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

208,568‌

800‌

SAP

SE,

ADR

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

65,000‌

1,800‌

Unity

Software

Inc.†

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

57,348‌

27,000‌

Vimeo

Inc.†

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

108,000‌

2,801‌

VMware

Inc.,

Cl. A

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

298,194‌

24,881,830‌

Consumer

Products

 —

4.3%

25,000‌

Brunswick

Corp.

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

1,636,250‌

10,700‌

Christian

Dior

SE

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

6,244,731‌

39,000‌

Church

&

Dwight

Co.

Inc.

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

2,786,160‌

419,100‌

Edgewell

Personal

Care

Co.

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

15,674,340‌

105,950‌

Energizer

Holdings

Inc.

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

2,663,583‌

9,350‌

Essity

AB,

Cl. A

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

185,354‌

41,650‌

Essity

AB,

Cl. B

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

828,673‌

3,100‌

Givaudan

SA

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

9,434,783‌

28,000‌

Harley-Davidson

Inc.

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

976,640‌

2,050‌

Hasbro

Inc.

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

138,211‌

1,900‌

Hermes

International

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

2,266,170‌

3,500‌

National

Presto

Industries

Inc.

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

227,675‌

31,025‌

Reckitt

Benckiser

Group

plc

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

2,070,144‌

60,000‌

Sally

Beauty

Holdings

Inc.†

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

756,000‌

9,300‌

Svenska

Cellulosa

AB

SCA,

Cl. A

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

119,501‌

36,800‌

Svenska

Cellulosa

AB

SCA,

Cl. B

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

470,874‌

2,102,000‌

Swedish

Match

AB

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

20,835,042‌

2,000‌

Sysco

Corp.

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

141,420‌

Shares

Market

Value

3,700‌

The

Estee

Lauder

Companies

Inc.,

Cl. A

.....

$

798,830‌

15,700‌

The

Procter

&

Gamble

Co.

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

1,982,125‌

31,000‌

Wolverine

World

Wide

Inc.

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

477,090‌

70,713,596‌

Consumer

Services

 —

0.9%

3,750‌

Allegion

plc

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

336,300‌

9,000‌

Blink

Charging

Co.†

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

159,480‌

1,350‌

FedEx

Corp.

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

200,435‌

40,600‌

IAC

Inc.†

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

2,248,428‌

198,000‌

Rollins

Inc.

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

6,866,640‌

100,000‌

Terminix

Global

Holdings

Inc.†

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

3,829,000‌

5,750‌

Uber

Technologies

Inc.†

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

152,375‌

1,225‌

United

Parcel

Service

Inc.,

Cl. B

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

197,886‌

73,100‌

Vroom

Inc.†

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

84,796‌

14,075,340‌

Diversified

Industrial

 —

5.8%

9,700‌

ABB

Ltd.,

ADR

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

248,902‌

450‌

Acuity

Brands

Inc.

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

70,862‌

1,350‌

Agilent

Technologies

Inc.

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

164,093‌

110,000‌

Ardagh

Metal

Packaging

SA

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

532,400‌

73,000‌

Avantor

Inc.†

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

1,430,800‌

300,000‌

Bollore

SE

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

1,388,339‌

37,000‌

ChargePoint

Holdings

Inc.†

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

546,120‌

214,250‌

Crane

Holdings

Co.

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

18,755,445‌

93,550‌

Eaton

Corp.

plc

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

12,475,828‌

4,900‌

Emerson

Electric

Co.

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

358,778‌

9,500‌

EnPro

Industries

Inc.

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

807,310‌

700‌

Esab

Corp.

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

23,352‌

2,325‌

General

Electric

Co.

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

143,941‌

127,150‌

Greif

Inc.,

Cl. A

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

7,574,325‌

66,100‌

Honeywell

International

Inc.

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

11,036,717‌

4,000‌

Hyster-Yale

Materials

Handling

Inc.

...........

86,040‌

19,706‌

Ingersoll

Rand

Inc.

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

852,482‌

186,425‌

ITT

Inc.

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

12,181,009‌

15,000‌

Jardine

Matheson

Holdings

Ltd.

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

759,600‌

25,000‌

Li-Cycle

Holdings

Corp.†

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

133,000‌

238,150‌

Myers

Industries

Inc.

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

3,922,330‌

20,000‌

nVent

Electric

plc

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

632,200‌

7,500‌

Park-Ohio

Holdings

Corp.

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

84,825‌

28,000‌

Pentair

plc

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

1,137,640‌

9,350‌

Sulzer

AG

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

542,503‌

165,750‌

Textron

Inc.

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

9,656,595‌

263,000‌

Toray

Industries

Inc.

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

1,293,466‌

21,300‌

Trane

Technologies

plc

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

3,084,453‌

203,500‌

Trinity

Industries

Inc.

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

4,344,725‌

14,000‌

Vantage

Towers

AG

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

364,147‌

3,000‌

Waters

Corp.†

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

808,590‌

95,440,817‌

Electronics

 —

3.8%

160,000‌

Flex

Ltd.†

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

2,665,600‌

10,500‌

Kyocera

Corp.,

ADR

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

528,675‌

3

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Electronics

(Continued)

1,400‌

Mettler-Toledo

International

Inc.†

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

$

1,517,768‌

360,000‌

Mirion

Technologies

Inc.†

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

2,689,200‌

273,000‌

Resideo

Technologies

Inc.†

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

5,203,380‌

2,100‌

Samsung

Electronics

Co.

Ltd.,

GDR

..........

1,936,200‌

470,850‌

Sony

Group

Corp.,

ADR

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

30,157,942‌

31,200‌

TE

Connectivity

Ltd.

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

3,443,232‌

81,450‌

Texas

Instruments

Inc.

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

12,606,831‌

5,000‌

Thermo

Fisher

Scientific

Inc.

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

2,535,950‌

63,284,778‌

Energy

and

Utilities

 —

3.2%

5,500‌

APA

Corp.

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

188,045‌

54,300‌

BP

plc,

ADR

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

1,550,265‌

73,600‌

Chevron

Corp.

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

10,574,112‌

34,500‌

ConocoPhillips

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

3,530,730‌

85,000‌

Devon

Energy

Corp.

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

5,111,050‌

20,000‌

Dril-Quip

Inc.†

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

390,400‌

27,000‌

Enbridge

Inc.

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

1,001,700‌

75,350‌

EOG

Resources

Inc.

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

8,418,856‌

72,000‌

Exxon

Mobil

Corp.

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

6,286,320‌

130,000‌

Halliburton

Co.

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

3,200,600‌

59,000‌

Kinder

Morgan

Inc.

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

981,760‌

58,500‌

National

Fuel

Gas

Co.

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

3,600,675‌

10,000‌

NextEra

Energy

Partners

LP

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

723,100‌

16,500‌

Occidental

Petroleum

Corp.

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

1,013,925‌

80,000‌

Oceaneering

International

Inc.†

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

636,800‌

164,000‌

PG&E

Corp.†

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

2,050,000‌

5,500‌

Shell

plc,

ADR

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

273,680‌

27,500‌

Southwest

Gas

Holdings

Inc.

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

1,918,125‌

91,100‌

The

AES

Corp.

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

2,058,860‌

52‌

Weatherford

International

PLC.†

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

1,679‌

53,510,682‌

Entertainment

 —

4.7%

154,750‌

Fox

Corp.,

Cl. A

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

4,747,730‌

20,000‌

Fox

Corp.,

Cl. B

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

570,000‌

834,000‌

Grupo

Televisa

SAB,

ADR

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

4,486,920‌

20,000‌

IMAX

Corp.†

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

282,400‌

113,800‌

Liberty

Media

Corp.-

Liberty

Braves,

Cl. A†

3,203,470‌

266,650‌

Liberty

Media

Corp.-

Liberty

Braves,

Cl. C†

7,332,875‌

180,375‌

Madison

Square

Garden

Entertainment

Corp.†

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

7,952,734‌

127,733‌

Madison

Square

Garden

Sports

Corp.†

.....

17,455,992‌

373,091‌

Paramount

Global,

Cl. A

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

8,036,380‌

155,000‌

Paramount

Global,

Cl. B

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

2,951,200‌

116,870‌

The

Walt

Disney

Co.†

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

11,024,347‌

25,000‌

Universal

Music

Group

NV

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

473,511‌

470,000‌

Vivendi

SE

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

3,672,090‌

559,150‌

Warner

Bros

Discovery

Inc.†

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

6,430,225‌

78,619,874‌

Shares

Market

Value

Environmental

Services

 —

3.0%

245,050‌

Republic

Services

Inc.

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

$

33,336,602‌

20,000‌

Stericycle

Inc.†

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

842,200‌

80,000‌

Waste

Connections

Inc.

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

10,810,400‌

30,700‌

Waste

Management

Inc.

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

4,918,447‌

49,907,649‌

Equipment

and

Supplies

 —

9.5%

464,700‌

AMETEK

Inc.

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

52,701,627‌

22,000‌

Amphenol

Corp.,

Cl. A

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

1,473,120‌

17,350‌

AZZ

Inc.

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

633,449‌

40,000‌

CIRCOR

International

Inc.†

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

659,600‌

73,450‌

Crown

Holdings

Inc.

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

5,951,653‌

142,050‌

CTS

Corp.

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

5,916,383‌

4,975‌

Danaher

Corp.

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

1,284,993‌

10,000‌

Distribution

Solutions

Group

Inc.†

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

281,700‌

358,900‌

Donaldson

Co.

Inc.

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

17,589,689‌

384,200‌

Flowserve

Corp.

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

9,336,060‌

85,000‌

Graco

Inc.

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

5,095,750‌

11,000‌

Hubbell

Inc.

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

2,453,000‌

98,400‌

IDEX

Corp.

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

19,665,240‌

40,650‌

Interpump

Group

SpA

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

1,331,420‌

120,000‌

Mueller

Industries

Inc.

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

7,132,800‌

101,000‌

Sealed

Air

Corp.

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

4,495,510‌

24,000‌

The

Manitowoc

Co.

Inc.†

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

186,000‌

47,150‌

The

Timken

Co.

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

2,783,736‌

16,500‌

The

Toro

Co.

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

1,426,920‌

69,500‌

The

Weir

Group

plc

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

1,091,447‌

20,250‌

Valmont

Industries

Inc.

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

5,439,555‌

78,575‌

Watts

Water

Technologies

Inc.,

Cl. A

.........

9,879,235‌

156,808,887‌

Financial

Services

 —

8.8%

4,250‌

Alleghany

Corp.†

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

3,567,322‌

45,650‌

AllianceBernstein

Holding

LP

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

1,600,489‌

158,150‌

American

Express

Co.

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

21,336,017‌

1,700‌

Ameriprise

Financial

Inc.

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

428,315‌

20,000‌

Argo

Group

International

Holdings

Ltd.

.....

385,200‌

71,400‌

Bank

of

America

Corp.

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

2,156,280‌

88‌

Berkshire

Hathaway

Inc.,

Cl. A†

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

35,769,360‌

81,300‌

Blackstone

Inc.

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

6,804,810‌

21,800‌

Citigroup

Inc.

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

908,406‌

60,000‌

GAM

Holding

AG†

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

55,944‌

42,500‌

Interactive

Brokers

Group

Inc.,

Cl. A

.........

2,716,175‌

2,650‌

Intercontinental

Exchange

Inc.

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

239,427‌

32,000‌

Jefferies

Financial

Group

Inc.

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

944,000‌

76,600‌

JPMorgan

Chase

&

Co.

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

8,004,700‌

23,000‌

Kinnevik

AB,

Cl. A†

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

307,561‌

40,000‌

Kinnevik

AB,

Cl. B†

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

532,005‌

83,150‌

KKR

&

Co.

Inc.

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

3,575,450‌

1,200‌

LendingTree

Inc.†

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

28,632‌

96,500‌

Loews

Corp.

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

4,809,560‌

6,450‌

M&T

Bank

Corp.

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

1,137,264‌

4

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Financial

Services

(Continued)

30,200‌

Marsh

&

McLennan

Companies

Inc.

..........

$

4,508,558‌

17,750‌

PayPal

Holdings

Inc.†

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

1,527,743‌

12,500‌

Popular

Inc.

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

900,750‌

50,000‌

Post

Holdings

Partnering

Corp.†

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

496,750‌

20,000‌

PROG

Holdings

Inc.†

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

299,600‌

128,800‌

State

Street

Corp.

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

7,832,328‌

9,750‌

T.

Rowe

Price

Group

Inc.

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

1,023,847‌

382,400‌

The

Bank

of

New

York

Mellon

Corp.

..........

14,730,048‌

24,700‌

The

Goldman

Sachs

Group

Inc.

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

7,238,335‌

20,000‌

The

Hartford

Financial

Services

Group

Inc.

1,238,800‌

25,100‌

The

PNC

Financial

Services

Group

Inc.

......

3,750,442‌

9,000‌

Value

Line

Inc.

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

395,100‌

167,450‌

Wells

Fargo

&

Co.

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

6,734,839‌

145,984,057‌

Food

and

Beverage

 —

14.5%

58,709‌

BellRing

Brands

Inc.†

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

1,209,992‌

693,000‌

Brown-Forman

Corp.,

Cl. A

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

46,819,080‌

85,450‌

Brown-Forman

Corp.,

Cl. B

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

5,688,406‌

22,000‌

Campbell

Soup

Co.

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

1,036,640‌

771,150‌

China

Mengniu

Dairy

Co.

Ltd.

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

3,060,178‌

32,150‌

Chr.

Hansen

Holding

A/S

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

1,588,324‌

23,400‌

Coca-Cola

Europacific

Partners

plc

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

997,308‌

15,400‌

Coca-Cola

HBC

AG

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

325,671‌

74,000‌

Conagra

Brands

Inc.

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

2,414,620‌

19,900‌

Constellation

Brands

Inc.,

Cl. A

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

4,570,632‌

35,000‌

Crimson

Wine

Group

Ltd.†

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

222,250‌

92,100‌

Danone

SA

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

4,384,055‌

30,000‌

Davide

Campari-Milano

NV

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

267,906‌

189,445‌

Diageo

plc,

ADR

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

32,169,655‌

95,084‌

Farmer

Brothers

Co.†

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

445,944‌

240,000‌

Flowers

Foods

Inc.

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

5,925,600‌

32,000‌

Fomento

Economico

Mexicano

SAB

de

CV,

ADR

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

2,008,000‌

74,000‌

General

Mills

Inc.

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

5,669,140‌

1,566,300‌

Grupo

Bimbo

SAB

de

CV,

Cl. A

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

5,503,962‌

10,000‌

Heineken

Holding

NV

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

690,935‌

74,150‌

Heineken

NV

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

6,530,190‌

19,350‌

Heineken

NV,

ADR

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

846,369‌

129,050‌

ITO

EN

Ltd.

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

5,225,130‌

7,000‌

John

Bean

Technologies

Corp.

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

602,000‌

20,000‌

Kellogg

Co.

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

1,393,200‌

58,700‌

Kerry

Group

plc,

Cl. A

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

5,233,983‌

164,700‌

Kikkoman

Corp.

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

9,331,445‌

6,000‌

Lamb

Weston

Holdings

Inc.

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

464,280‌

18,300‌

LVMH

Moet

Hennessy

Louis

Vuitton

SE

....

10,947,472‌

55,000‌

Maple

Leaf

Foods

Inc.

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

821,805‌

18,500‌

MEIJI

Holdings

Co.

Ltd.

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

821,910‌

154,000‌

Mondelēz

International

Inc.,

Cl. A

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

8,443,820‌

44,000‌

Morinaga

Milk

Industry

Co.

Ltd.

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

1,293,581‌

Shares

Market

Value

22,000‌

National

Beverage

Corp.

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

$

847,880‌

40,000‌

Nestlé

SA

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

4,340,934‌

95,800‌

Nissin

Foods

Holdings

Co.

Ltd.

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

6,665,557‌

41,083‌

Nomad

Foods

Ltd.†

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

583,379‌

54,950‌

PepsiCo

Inc.

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

8,971,137‌

50,600‌

Pernod

Ricard

SA

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

9,365,172‌

72,100‌

Post

Holdings

Inc.†

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

5,905,711‌

70,100‌

Remy

Cointreau

SA

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

11,741,087‌

16,450‌

Suntory

Beverage

&

Food

Ltd.

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

583,075‌

21,200‌

The

Coca-Cola

Co.

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

1,187,624‌

25,450‌

The

Hain

Celestial

Group

Inc.†

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

429,596‌

20,600‌

The

J.M.

Smucker

Co.

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

2,830,646‌

47,800‌

The

Kraft

Heinz

Co.

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

1,594,130‌

220,000‌

Tingyi

(Cayman

Islands)

Holding

Corp.

.....

379,482‌

27,634‌

Tootsie

Roll

Industries

Inc.

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

919,660‌

5,000‌

TreeHouse

Foods

Inc.†

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

212,100‌

125,150‌

Yakult

Honsha

Co.

Ltd.

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

7,272,241‌

240,782,894‌

Health

Care

 —

5.6%

10,000‌

Abbott

Laboratories

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

967,600‌

25,825‌

AbbVie

Inc.

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

3,465,973‌

24,500‌

AmerisourceBergen

Corp.

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

3,315,585‌

29,150‌

Amgen

Inc.

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

6,570,410‌

10,000‌

AstraZeneca

plc,

ADR

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

548,400‌

65,000‌

Aurinia

Pharmaceuticals

Inc.†

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

488,800‌

15,000‌

Bausch

+

Lomb

Corp.†

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

230,100‌

60,000‌

Bausch

Health

Cos.

Inc.†

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

413,400‌

41,800‌

Baxter

International

Inc.

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

2,251,348‌

8,100‌

Biogen

Inc.†

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

2,162,700‌

1,250‌

BioMarin

Pharmaceutical

Inc.†

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

105,963‌

6,100‌

Bio-Rad

Laboratories

Inc.,

Cl. A†

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

2,544,554‌

87,000‌

Bristol-Myers

Squibb

Co.

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

6,184,830‌

18,000‌

Catalent

Inc.†

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

1,302,480‌

2,765‌

Charles

River

Laboratories

International

Inc.†

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

544,152‌

8,600‌

Chemed

Corp.

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

3,754,416‌

1,120‌

ChemoCentryx

Inc.†

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

57,859‌

13,000‌

Cigna

Corp.

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

3,607,110‌

8,900‌

CONMED

Corp.

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

713,513‌

15,000‌

DaVita

Inc.†

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

1,241,550‌

106,400‌

Demant

A/S†

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

2,650,007‌

25,000‌

DENTSPLY

SIRONA

Inc.

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

708,750‌

4,000‌

Elevance

Health

Inc.

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

1,816,960‌

75,000‌

Evolent

Health

Inc.,

Cl. A†

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

2,694,750‌

2,200‌

Galapagos

NV,

ADR†

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

93,808‌

5,000‌

Gerresheimer

AG

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

246,483‌

4,630‌

GSK

plc,

ADR

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

136,261‌

5,800‌

Haleon

plc,

ADR†

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

35,322‌

23,920‌

HCA

Healthcare

Inc.

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

4,396,257‌

88,336‌

Henry

Schein

Inc.†

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

5,809,859‌

2,500‌

ICU

Medical

Inc.†

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

376,500‌

5

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Health

Care

(Continued)

1,000‌

Illumina

Inc.†

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

$

190,790‌

27,000‌

Indivior

plc†

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

85,677‌

20,000‌

Integer

Holdings

Corp.†

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

1,244,600‌

24,200‌

Johnson

&

Johnson

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

3,953,312‌

12,175‌

Laboratory

Corp.

of

America

Holdings

.......

2,493,562‌

4,000‌

McKesson

Corp.

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

1,359,480‌

25,300‌

Medtronic

plc

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

2,042,975‌

58,325‌

Merck

&

Co.

Inc.

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

5,022,949‌

70,000‌

Option

Care

Health

Inc.†

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

2,202,900‌

15,000‌

Orthofix

Medical

Inc.†

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

286,650‌

22,500‌

Perrigo

Co.

plc

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

802,350‌

25,000‌

PetIQ

Inc.†

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

172,500‌

25,050‌

Pfizer

Inc.

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

1,096,188‌

14,000‌

QuidelOrtho

Corp.†

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

1,000,720‌

350‌

Regeneron

Pharmaceuticals

Inc.†

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

241,104‌

40,000‌

Roche

Holding

AG,

ADR

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

1,624,800‌

4,800‌

Silk

Road

Medical

Inc.†

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

216,000‌

6,900‌

Stryker

Corp.

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

1,397,526‌

46,000‌

Tenet

Healthcare

Corp.†

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

2,372,680‌

3,000‌

The

Cooper

Companies

Inc.

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

791,700‌

1,400‌

UnitedHealth

Group

Inc.

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

707,056‌

4,900‌

Vertex

Pharmaceuticals

Inc.†

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

1,418,746‌

21,150‌

Zimmer

Biomet

Holdings

Inc.

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

2,211,232‌

2,015‌

Zimvie

Inc.†

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

19,888‌

7,000‌

Zoetis

Inc.

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

1,038,030‌

93,429,115‌

Hotels

and

Gaming

 —

1.0%

10,500‌

Accor

SA†

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

222,378‌

6,200‌

Churchill

Downs

Inc.

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

1,141,730‌

327,100‌

Genting

Singapore

Ltd.

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

178,781‌

11,200‌

Hyatt

Hotels

Corp.,

Cl. A†

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

906,752‌

1,100‌

Las

Vegas

Sands

Corp.†

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

41,272‌

3,294,100‌

Mandarin

Oriental

International

Ltd.†

........

6,192,908‌

161,400‌

MGM

Resorts

International

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

4,796,808‌

17,100‌

Ryman

Hospitality

Properties

Inc.,

REIT

....

1,258,389‌

1,353,350‌

The

Hongkong

&

Shanghai

Hotels

Ltd.†

....

1,172,381‌

19,000‌

Universal

Entertainment

Corp.†

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

244,966‌

3,250‌

Wyndham

Hotels

&

Resorts

Inc.

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

199,387‌

6,550‌

Wynn

Resorts

Ltd.†

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

412,847‌

16,768,599‌

Machinery

 —

6.1%

104,300‌

Caterpillar

Inc.

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

17,113,544‌

1,462,000‌

CNH

Industrial

NV

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

16,330,540‌

86,550‌

CNH

Industrial

NV,

Borsa

ltaliana

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

986,495‌

156,870‌

Deere

&

Co.

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

52,377,325‌

14,300‌

Mueller

Water

Products

Inc.,

Cl. A

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

146,861‌

167,875‌

Xylem

Inc.

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

14,665,560‌

101,620,325‌

Shares

Market

Value

Manufactured

Housing

and

Recreational

Vehicles

 —

0.4%

28,000‌

Cavco

Industries

Inc.†

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

$

5,761,280‌

825‌

Nobility

Homes

Inc.

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

20,006‌

26,000‌

Skyline

Champion

Corp.†

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

1,374,620‌

7,155,906‌

Metals

and

Mining

 —

2.8%

48,350‌

Agnico

Eagle

Mines

Ltd.

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

2,041,821‌

147,400‌

Barrick

Gold

Corp.

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

2,284,700‌

70,100‌

Franco-Nevada

Corp.

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

8,375,548‌

104,550‌

Freeport-McMoRan

Inc.

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

2,857,351‌

28,000‌

Kinross

Gold

Corp.

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

105,280‌

15,000‌

MP

Materials

Corp.†

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

409,500‌

442,200‌

Newmont

Corp.

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

18,585,666‌

103,000‌

Royal

Gold

Inc.

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

9,663,460‌

75,750‌

Wheaton

Precious

Metals

Corp.

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

2,451,270‌

46,774,596‌

Publishing

 —

1.7%

98,000‌

News

Corp.,

Cl. A

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

1,480,780‌

81,100‌

S&P

Global

Inc.

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

24,763,885‌

118,050‌

The

E.W.

Scripps

Co.,

Cl. A†

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

1,330,423‌

27,575,088‌

Real

Estate

 —

0.8%

1,300‌

Alexandria

Real

Estate

Equities

Inc.,

REIT

..

182,247‌

23,100‌

Brookfield

Asset

Management

Inc.,

Cl. A

...

944,559‌

8,500‌

Host

Hotels

&

Resorts

Inc.,

REIT

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

134,980‌

102,914‌

Indus

Realty

Trust

Inc.,

REIT

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

5,389,606‌

450‌

Prologis

Inc.,

REIT

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

45,720‌

190,500‌

The

St.

Joe

Co.

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

6,101,715‌

41,000‌

Weyerhaeuser

Co.,

REIT

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

1,170,960‌

13,969,787‌

Retail

 —

2.6%

8,800‌

Advance

Auto

Parts

Inc.

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

1,375,792‌

69,000‌

AutoNation

Inc.†

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

7,029,030‌

700‌

AutoZone

Inc.†

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

1,499,351‌

20,000‌

CarMax

Inc.†

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

1,320,400‌

28,895‌

Costco

Wholesale

Corp.

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

13,646,242‌

112,950‌

CVS

Health

Corp.

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

10,772,041‌

1,400‌

Dollar

Tree

Inc.†

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

190,540‌

20,000‌

EVgo

Inc.†

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

158,200‌

900‌

Lowe's

Companies

Inc.

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

169,029‌

1,600‌

NIKE

Inc.,

Cl. B

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

132,992‌

80,000‌

Qurate

Retail

Inc.,

Cl. A

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

160,800‌

10,000‌

Rush

Enterprises

Inc.,

Cl. B

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

479,100‌

2,800‌

Starbucks

Corp.

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

235,928‌

3,750‌

The

Home

Depot

Inc.

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

1,034,775‌

96,950‌

The

Kroger

Co.

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

4,241,563‌

11,000‌

Walgreens

Boots

Alliance

Inc.

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

345,400‌

2,500‌

Walmart

Inc.

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

324,250‌

6

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Retail

(Continued)

7,832‌

Zalando

SE†

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

$

155,280‌

43,270,713‌

Specialty

Chemicals

 —

1.0%

1,650‌

Air

Products

and

Chemicals

Inc.

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

384,005‌

157,000‌

DuPont

de

Nemours

Inc.

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

7,912,800‌

1,400‌

Eastman

Chemical

Co.

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

99,470‌

50,000‌

H.B.

Fuller

Co.

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

3,005,000‌

37,300‌

International

Flavors

&

Fragrances

Inc.

.....

3,387,959‌

32,200‌

Sensient

Technologies

Corp.

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

2,232,748‌

17,021,982‌

Telecommunications

 —

1.1%

4,700‌

AT&T

Inc.

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

72,098‌

158,250‌

Deutsche

Telekom

AG,

ADR

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

2,699,745‌

14,000‌

Hellenic

Telecommunications

Organization

SA

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

203,752‌

23,400‌

Hellenic

Telecommunications

Organization

SA,

ADR

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

163,917‌

5,600‌

Orange

SA,

ADR

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

50,344‌

6,100‌

SoftBank

Group

Corp.,

ADR

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

102,846‌

2,588,200‌

Telecom

Italia

SpA†

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

482,708‌

92,300‌

Telecom

Italia

SpA,

ADR†

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

172,601‌

37,400‌

Telefonica

Brasil

SA,

ADR

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

281,248‌

280,000‌

Telefonica

SA,

ADR

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

907,200‌

747,000‌

Telephone

and

Data

Systems

Inc.

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

10,383,300‌

123,000‌

Telesat

Corp.,

New

York†

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

960,630‌

18,700‌

TIM

SA,

ADR

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

209,066‌

120,000‌

VEON

Ltd.,

ADR†

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

38,400‌

37,650‌

Verizon

Communications

Inc.

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

1,429,571‌

18,157,426‌

Transportation

 —

1.0%

1,500‌

Canadian

National

Railway

Co.

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

161,985‌

10,000‌

Canadian

Pacific

Railway

Ltd.

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

667,200‌

193,050‌

GATX

Corp.

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

16,438,208‌

17,267,393‌

Wireless

Communications

 —

0.4%

96,750‌

America

Movil

SAB

de

CV,

Cl. L,

ADR

........

1,593,472‌

215,000‌

Operadora

De

Sites

Mexicanos

SAB

de

CV

179,990‌

26,635‌

T-Mobile

US

Inc.†

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

3,573,618‌

34,000‌

United

States

Cellular

Corp.†

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

885,020‌

6,232,100‌

TOTAL

COMMON

STOCKS

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

1,637,130,911‌

CLOSED-END

FUNDS

 —

0.1%

2,000‌

Altaba

Inc.,

Escrow†

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

7,600‌

10,700‌

Royce

Global

Value

Trust

Inc.

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

85,814‌

81,700‌

Royce

Value

Trust

Inc.

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

1,025,335‌

TOTAL

CLOSED-END

FUNDS

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

1,118,749‌

Shares

Market

Value

PREFERRED

STOCKS

 —

0.0%

Electronics

 —

0.0%

95‌

WESCO

International

Inc.,

Ser.

A,

10.625%

$

2,560‌

Retail

 —

0.0%

15,000‌

Qurate

Retail

Inc.,

8.000%,

03/15/31

........

683,100‌

TOTAL

PREFERRED

STOCKS

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

685,660‌

CONVERTIBLE

PREFERRED

STOCKS

 —

0.0%

Automobiles

and

Components

 —

0.0%

94,569‌

Garrett

Motion

Inc.,

Ser.

A,

11.000%

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

672,386‌

WARRANTS

 —

0.0%

Energy

and

Utilities

 —

0.0%

1,694‌

Weatherford

International

plc,

expire

12/13/23†

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

284‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

 —

1.2%

$

19,142,000‌

U.S.

Treasury

Bills,

2.272%

to

3.242%††,

10/20/22

to

12/29/22

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

19,079,050‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$536,369,138)

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

$

1,658,687,040‌

†

Non-income

producing

security.

††

Represents

annualized

yields

at

dates

of

purchase.

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

REIT

Real

Estate

Investment

Trust