Gabelli Asset Fund (GABAX) NPORT-P The Gabelli Asset Fund (Sep 2023 report)

1

The

Gabelli

Asset

Fund

Schedule

of

Investments

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

 —

99.7%

Aerospace

 —

0.6%

2,000‌

Astronics

Corp.†

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

$

31,720‌

9,000‌

HEICO

Corp.

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

1,457,370‌

12,200‌

L3Harris

Technologies

Inc.

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

2,124,264‌

4,850‌

Lockheed

Martin

Corp.

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

1,983,456‌

1,600‌

Mercury

Systems

Inc.†

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

59,344‌

6,250‌

Northrop

Grumman

Corp.

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

2,751,188‌

318,400‌

Rolls-Royce

Holdings

plc†

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

858,152‌

3,525‌

RTX

Corp.

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

253,694‌

1,365‌

The

Boeing

Co.†

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

261,643‌

9,780,831‌

Agriculture

 —

0.5%

100,000‌

Archer-Daniels-Midland

Co.

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

7,542,000‌

19,500‌

The

Mosaic

Co.

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

694,200‌

8,236,200‌

Airlines

 —

0.0%

33‌

American

Airlines

Group

Inc.†

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

423‌

Automotive

 —

1.0%

1,500‌

Daimler

Truck

Holding

AG

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

52,049‌

5,000‌

Ferrari

NV

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

1,477,700‌

315,350‌

Iveco

Group

NV†

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

2,954,624‌

128,500‌

PACCAR

Inc.

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

10,925,070‌

46,000‌

Traton

SE

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

969,266‌

2,900‌

Volkswagen

AG

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

382,333‌

16,761,042‌

Automotive:

Parts

and

Accessories

 —

3.9%

2,500‌

Aptiv

plc†

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

246,475‌

71,550‌

BorgWarner

Inc.

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

2,888,474‌

78,814‌

Brembo

SpA

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

979,915‌

800‌

Cummins

Inc.

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

182,768‌

336,000‌

Dana

Inc.

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

4,929,120‌

252,440‌

Garrett

Motion

Inc.†

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

1,989,227‌

229,200‌

Genuine

Parts

Co.

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

33,091,896‌

65,000‌

Modine

Manufacturing

Co.†

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

2,973,750‌

3,000‌

Monro

Inc.

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

83,310‌

17,700‌

O'Reilly

Automotive

Inc.†

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

16,086,822‌

30,000‌

Standard

Motor

Products

Inc.

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

1,008,600‌

64,460,357‌

Aviation:

Parts

and

Services

 —

0.3%

20,000‌

Curtiss-Wright

Corp.

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

3,912,600‌

77,500‌

Kaman

Corp.

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

1,522,875‌

5,435,475‌

Broadcasting

 —

0.8%

700‌

Cogeco

Communications

Inc.

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

32,401‌

16,800‌

Cogeco

Inc.

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

609,414‌

36,000‌

Corus

Entertainment

Inc.,

Cl. B

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

27,533‌

29,750‌

Liberty

Broadband

Corp.,

Cl. A†

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

2,704,573‌

68,663‌

Liberty

Broadband

Corp.,

Cl. C†

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

6,270,305‌

14,000‌

Nexstar

Media

Group

Inc.

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

2,007,180‌

Shares

Market

Value

66,000‌

Sinclair

Inc.

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

$

740,520‌

16,000‌

TBS

Holdings

Inc.

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

269,218‌

25,000‌

TEGNA

Inc.

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

364,250‌

13,025,394‌

Building

and

Construction

 —

1.0%

53,950‌

Arcosa

Inc.

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

3,879,005‌

900‌

Ashtead

Group

plc

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

54,926‌

33,200‌

Assa

Abloy

AB,

Cl. B

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

723,830‌

36,500‌

Fortune

Brands

Innovations

Inc.

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

2,268,840‌

54,400‌

Herc

Holdings

Inc.

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

6,470,336‌

32,000‌

Johnson

Controls

International

plc

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

1,702,720‌

13,000‌

KBR

Inc.

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

766,220‌

18,000‌

Knife

River

Corp.†

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

878,940‌

1,000‌

Lennar

Corp.,

Cl. B

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

102,230‌

16,847,047‌

Business

Services

 —

2.8%

120,000‌

Clear

Channel

Outdoor

Holdings

Inc.†

.......

189,600‌

20,000‌

Diebold

Nixdorf

Inc.†

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

0‌

19,300‌

Ecolab

Inc.

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

3,269,420‌

9,000‌

Live

Nation

Entertainment

Inc.†

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

747,360‌

69,950‌

Mastercard

Inc.,

Cl. A

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

27,693,904‌

19,000‌

Rentokil

Initial

plc,

ADR

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

703,950‌

45,000‌

The

Interpublic

Group

of

Companies

Inc.

..

1,289,700‌

3,800‌

United

Rentals

Inc.

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

1,689,366‌

17,500‌

V2X

Inc.†

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

904,050‌

39,775‌

Visa

Inc.,

Cl. A

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

9,148,648‌

45,635,998‌

Cable

and

Satellite

 —

2.5%

37,000‌

AMC

Networks

Inc.,

Cl. A†

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

435,860‌

5,450‌

Charter

Communications

Inc.,

Cl. A†

.........

2,397,019‌

371,650‌

Comcast

Corp.,

Cl. A

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

16,478,961‌

40,000‌

DISH

Network

Corp.,

Cl. A†

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

234,400‌

38,600‌

EchoStar

Corp.,

Cl. A†

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

646,550‌

130,000‌

Liberty

Global

plc,

Cl. A†

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

2,225,600‌

293,750‌

Liberty

Global

plc,

Cl. C†

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

5,452,000‌

7,850‌

Naspers

Ltd.,

Cl. N

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

1,254,404‌

6,500‌

Prosus

NV†

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

191,884‌

322,000‌

Rogers

Communications

Inc.,

Cl. B

...........

12,361,580‌

41,678,258‌

Communications

Equipment

 —

0.2%

77,000‌

Corning

Inc.

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

2,346,190‌

3,100‌

QUALCOMM

Inc.

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

344,286‌

2,690,476‌

Computer

Hardware

 —

0.2%

12,200‌

Apple

Inc.

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

2,088,762‌

7,550‌

Intel

Corp.

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

268,403‌

5,200‌

International

Business

Machines

Corp.

......

729,560‌

3,086,725‌

Computer

Software

and

Services

 —

2.0%

3,100‌

Activision

Blizzard

Inc.

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

290,253‌

2

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Computer

Software

and

Services

(Continued)

10,750‌

Alphabet

Inc.,

Cl. A†

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

$

1,406,745‌

83,000‌

Alphabet

Inc.,

Cl. C†

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

10,943,550‌

6,150‌

Cisco

Systems

Inc.

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

330,624‌

4,800‌

Gen

Digital

Inc.

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

84,864‌

23,000‌

Hewlett

Packard

Enterprise

Co.

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

399,510‌

27,100‌

Meta

Platforms

Inc.,

Cl. A†

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

8,135,691‌

12,575‌

Microsoft

Corp.

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

3,970,556‌

2,700‌

Oracle

Corp.

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

285,984‌

50,000‌

PAR

Technology

Corp.†

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

1,927,000‌

13,500‌

Rockwell

Automation

Inc.

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

3,859,245‌

1,650‌

Salesforce

Inc.†

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

334,587‌

13,000‌

Vimeo

Inc.†

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

46,020‌

1,950‌

VMware

Inc.,

Cl. A†

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

324,636‌

32,339,265‌

Consumer

Products

 —

3.2%

25,000‌

Brunswick

Corp.

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

1,975,000‌

10,700‌

Christian

Dior

SE

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

7,884,865‌

38,500‌

Church

&

Dwight

Co.

Inc.

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

3,527,755‌

370,100‌

Edgewell

Personal

Care

Co.

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

13,678,896‌

98,750‌

Energizer

Holdings

Inc.

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

3,163,950‌

9,350‌

Essity

AB,

Cl. A

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

202,395‌

41,650‌

Essity

AB,

Cl. B

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

899,290‌

3,100‌

Givaudan

SA

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

10,139,728‌

28,000‌

Harley-Davidson

Inc.

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

925,680‌

1,700‌

Hermes

International

SCA

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

3,109,013‌

3,500‌

National

Presto

Industries

Inc.

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

253,610‌

15,000‌

Philip

Morris

International

Inc.

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

1,388,700‌

31,425‌

Reckitt

Benckiser

Group

plc

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

2,221,515‌

60,000‌

Sally

Beauty

Holdings

Inc.†

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

502,800‌

3,700‌

The

Estee

Lauder

Companies

Inc.,

Cl. A

.....

534,835‌

14,500‌

The

Procter

&

Gamble

Co.

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

2,114,970‌

1,200‌

Unilever

plc

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

59,472‌

31,000‌

Wolverine

World

Wide

Inc.

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

249,860‌

52,832,334‌

Consumer

Services

 —

0.5%

2,000‌

Allegion

plc

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

208,400‌

2,450‌

Amazon.com

Inc.†

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

311,444‌

750‌

FedEx

Corp.

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

198,690‌

19,000‌

IAC

Inc.†

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

957,410‌

169,000‌

Rollins

Inc.

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

6,308,770‌

5,600‌

Uber

Technologies

Inc.†

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

257,544‌

8,242,258‌

Diversified

Industrial

 —

6.7%

10,100‌

ABB

Ltd.,

ADR

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

359,459‌

450‌

Acuity

Brands

Inc.

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

76,639‌

35,000‌

Ampco-Pittsburgh

Corp.†

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

92,050‌

5,000‌

Ardagh

Group

SA†

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

18,525‌

60,000‌

Avantor

Inc.†

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

1,264,800‌

313,250‌

Bollore

SE

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

1,685,724‌

Shares

Market

Value

198,800‌

Crane

Co.

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

$

17,661,392‌

9,150‌

Crane

NXT

Co.

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

508,466‌

83,300‌

Eaton

Corp.

plc

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

17,766,224‌

3,400‌

Emerson

Electric

Co.

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

328,338‌

7,000‌

EnPro

Industries

Inc.

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

848,330‌

1,675‌

General

Electric

Co.

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

185,171‌

119,450‌

Greif

Inc.,

Cl. A

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

7,980,454‌

49,450‌

Honeywell

International

Inc.

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

9,135,393‌

4,000‌

Hyster-Yale

Materials

Handling

Inc.

...........

178,320‌

19,000‌

Ingersoll

Rand

Inc.

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

1,210,680‌

180,425‌

ITT

Inc.

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

17,665,412‌

14,200‌

Jardine

Matheson

Holdings

Ltd.

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

659,164‌

236,150‌

Myers

Industries

Inc.

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

4,234,170‌

19,500‌

nVent

Electric

plc

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

1,033,305‌

10,000‌

Park-Ohio

Holdings

Corp.

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

199,100‌

28,000‌

Pentair

plc

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

1,813,000‌

325‌

Siemens

AG

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

46,614‌

6,000‌

Sulzer

AG

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

574,534‌

9,300‌

Svenska

Cellulosa

AB

SCA,

Cl. A

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

127,682‌

36,000‌

Svenska

Cellulosa

AB

SCA,

Cl. B

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

494,090‌

172,700‌

Textron

Inc.

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

13,494,778‌

245,000‌

Toray

Industries

Inc.

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

1,275,495‌

19,300‌

Trane

Technologies

plc

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

3,916,163‌

200,500‌

Trinity

Industries

Inc.

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

4,882,175‌

3,000‌

Waters

Corp.†

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

822,630‌

110,538,277‌

Electronics

 —

4.3%

140,000‌

Flex

Ltd.†

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

3,777,200‌

10,500‌

Kyocera

Corp.,

ADR

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

537,810‌

1,300‌

Mettler-Toledo

International

Inc.†

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

1,440,491‌

385,000‌

Mirion

Technologies

Inc.†

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

2,875,950‌

238,000‌

Resideo

Technologies

Inc.†

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

3,760,400‌

2,100‌

Samsung

Electronics

Co.

Ltd.,

GDR

..........

2,646,000‌

455,200‌

Sony

Group

Corp.,

ADR

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

37,513,032‌

30,200‌

TE

Connectivity

Ltd.

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

3,730,606‌

73,700‌

Texas

Instruments

Inc.

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

11,719,037‌

4,000‌

Thermo

Fisher

Scientific

Inc.

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

2,024,680‌

70,025,206‌

Energy

and

Utilities

 —

3.3%

49,200‌

BP

plc,

ADR

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

1,905,024‌

64,200‌

Chevron

Corp.

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

10,825,404‌

34,500‌

ConocoPhillips

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

4,133,100‌

84,500‌

Devon

Energy

Corp.

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

4,030,650‌

25,000‌

Dril-Quip

Inc.†

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

704,250‌

27,000‌

Enbridge

Inc.

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

896,130‌

71,350‌

EOG

Resources

Inc.

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

9,044,326‌

58,000‌

Exxon

Mobil

Corp.

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

6,819,640‌

132,000‌

Halliburton

Co.

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

5,346,000‌

975‌

Hess

Corp.

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

149,175‌

22,000‌

Kinder

Morgan

Inc.

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

364,760‌

59,000‌

National

Fuel

Gas

Co.

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

3,062,690‌

3

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Energy

and

Utilities

(Continued)

2,500‌

NextEra

Energy

Inc.

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

$

143,225‌

17,000‌

NextEra

Energy

Partners

LP

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

504,900‌

34,000‌

Occidental

Petroleum

Corp.

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

2,205,920‌

80,000‌

PG&E

Corp.†

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

1,290,400‌

5,800‌

Shell

plc,

ADR

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

373,404‌

27,500‌

Southwest

Gas

Holdings

Inc.

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

1,661,275‌

89,500‌

The

AES

Corp.

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

1,360,400‌

3,707‌

Vitesse

Energy

Inc.

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

84,853‌

54,905,526‌

Entertainment

 —

6.0%

115,800‌

Atlanta

Braves

Holdings

Inc.,

Cl. A†

..........

4,524,306‌

300,771‌

Atlanta

Braves

Holdings

Inc.,

Cl. C†

..........

10,746,548‌

109,000‌

Fox

Corp.,

Cl. A

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

3,400,800‌

30,000‌

Fox

Corp.,

Cl. B

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

866,400‌

852,100‌

Grupo

Televisa

SAB,

ADR

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

2,598,905‌

34,150‌

Liberty

Media

Corp.-Liberty

Formula

One,

Cl. A†

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

1,930,841‌

39,100‌

Liberty

Media

Corp.-Liberty

Formula

One,

Cl. C†

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

2,435,930‌

13,961‌

Liberty

Media

Corp.-Liberty

Live,

Cl. A†

....

445,635‌

50,459‌

Liberty

Media

Corp.-Liberty

Live,

Cl. C†

....

1,619,734‌

233,147‌

Liberty

Media

Corp.-Liberty

SiriusXM†

......

5,935,922‌

50,000‌

Liberty

Media

Corp.-Liberty

SiriusXM,

Cl. A†

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

1,272,500‌

167,870‌

Madison

Square

Garden

Entertainment

Corp.†

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

5,524,602‌

123,383‌

Madison

Square

Garden

Sports

Corp.

.......

21,752,423‌

350‌

Netflix

Inc.†

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

132,160‌

373,791‌

Paramount

Global,

Cl. A

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

5,902,160‌

80,000‌

Paramount

Global,

Cl. B

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

1,032,000‌

172,720‌

Sphere

Entertainment

Co.†

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

6,418,275‌

825‌

Take-Two

Interactive

Software

Inc.†

..........

115,822‌

104,125‌

The

Walt

Disney

Co.†

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

8,439,331‌

355,000‌

Vivendi

SE

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

3,113,686‌

915,421‌

Warner

Bros

Discovery

Inc.†

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

9,941,472‌

98,149,452‌

Environmental

Services

 —

2.8%

10,510‌

Phinia

Inc.

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

281,563‌

211,500‌

Republic

Services

Inc.

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

30,140,865‌

79,000‌

Waste

Connections

Inc.

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

10,609,700‌

27,200‌

Waste

Management

Inc.

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

4,146,368‌

45,178,496‌

Equipment

and

Supplies

 —

9.7%

321,900‌

AMETEK

Inc.

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

47,563,944‌

22,000‌

Amphenol

Corp.,

Cl. A

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

1,847,780‌

16,350‌

AZZ

Inc.

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

745,233‌

44,650‌

Crown

Holdings

Inc.

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

3,950,632‌

128,050‌

CTS

Corp.

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

5,344,807‌

5,000‌

Danaher

Corp.

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

1,240,500‌

Shares

Market

Value

21,000‌

Distribution

Solutions

Group

Inc.†

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

$

546,000‌

345,900‌

Donaldson

Co.

Inc.

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

20,629,476‌

382,350‌

Flowserve

Corp.

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

15,206,060‌

56,000‌

Graco

Inc.

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

4,081,280‌

12,000‌

Hubbell

Inc.

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

3,760,920‌

80,550‌

IDEX

Corp.

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

16,756,011‌

39,150‌

Interpump

Group

SpA

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

1,800,109‌

94,500‌

Mueller

Industries

Inc.

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

7,102,620‌

92,500‌

Sealed

Air

Corp.

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

3,039,550‌

24,000‌

The

Manitowoc

Co.

Inc.†

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

361,200‌

47,150‌

The

Timken

Co.

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

3,465,053‌

16,200‌

The

Toro

Co.

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

1,346,220‌

68,000‌

The

Weir

Group

plc

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

1,577,614‌

29,000‌

Valmont

Industries

Inc.

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

6,966,090‌

65,500‌

Watts

Water

Technologies

Inc.,

Cl. A

.........

11,319,710‌

158,650,809‌

Financial

Services

 —

8.7%

42,000‌

AllianceBernstein

Holding

LP

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

1,274,700‌

147,600‌

American

Express

Co.

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

22,020,444‌

1,500‌

Ameriprise

Financial

Inc.

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

494,520‌

13,400‌

Bank

of

America

Corp.

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

366,892‌

66‌

Berkshire

Hathaway

Inc.,

Cl. A†

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

35,077,482‌

67,700‌

Blackstone

Inc.

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

7,253,378‌

5,625‌

Brookfield

Asset

Management

Ltd.,

Cl. A

...

187,537‌

22,500‌

Brookfield

Corp.

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

703,575‌

20,800‌

Citigroup

Inc.

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

855,504‌

40,000‌

FTAI

Aviation

Ltd.

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

1,422,000‌

60,000‌

GAM

Holding

AG†

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

29,661‌

32,500‌

Interactive

Brokers

Group

Inc.,

Cl. A

.........

2,813,200‌

2,690‌

Intercontinental

Exchange

Inc.

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

295,954‌

31,500‌

Jefferies

Financial

Group

Inc.

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

1,153,845‌

64,575‌

JPMorgan

Chase

&

Co.

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

9,364,666‌

40,000‌

Kinnevik

AB,

Cl. B†

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

399,797‌

79,200‌

KKR

&

Co.

Inc.

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

4,878,720‌

1,200‌

LendingTree

Inc.†

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

18,600‌

87,000‌

Loews

Corp.

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

5,507,970‌

6,450‌

M&T

Bank

Corp.

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

815,603‌

20,500‌

Marsh

&

McLennan

Companies

Inc.

..........

3,901,150‌

1,700‌

Nasdaq

Inc.

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

82,603‌

12,100‌

PayPal

Holdings

Inc.†

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

707,366‌

12,000‌

Popular

Inc.

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

756,120‌

20,000‌

PROG

Holdings

Inc.†

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

664,200‌

95,800‌

State

Street

Corp.

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

6,414,768‌

9,750‌

T.

Rowe

Price

Group

Inc.

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

1,022,482‌

363,400‌

The

Bank

of

New

York

Mellon

Corp.

..........

15,499,010‌

21,500‌

The

Goldman

Sachs

Group

Inc.

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

6,956,755‌

20,000‌

The

Hartford

Financial

Services

Group

Inc.

1,418,200‌

25,100‌

The

PNC

Financial

Services

Group

Inc.

......

3,081,527‌

9,000‌

Value

Line

Inc.

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

393,480‌

158,400‌

Wells

Fargo

&

Co.

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

6,472,224‌

142,303,933‌

4

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Food

and

Beverage

 —

13.7%

92,014‌

BellRing

Brands

Inc.†

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

$

3,793,737‌

631,400‌

Brown-Forman

Corp.,

Cl. A

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

36,684,340‌

85,450‌

Brown-Forman

Corp.,

Cl. B

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

4,929,611‌

22,000‌

Campbell

Soup

Co.

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

903,760‌

766,150‌

China

Mengniu

Dairy

Co.

Ltd.

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

2,568,199‌

23,400‌

Coca-Cola

Europacific

Partners

plc

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

1,462,032‌

15,400‌

Coca-Cola

HBC

AG

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

422,577‌

44,000‌

Conagra

Brands

Inc.

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

1,206,480‌

10,000‌

Constellation

Brands

Inc.,

Cl. A

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

2,513,300‌

28,000‌

Crimson

Wine

Group

Ltd.†

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

168,140‌

90,100‌

Danone

SA

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

4,978,195‌

20,000‌

Davide

Campari-Milano

NV

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

236,084‌

1,400‌

Diageo

plc

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

51,825‌

196,850‌

Diageo

plc,

ADR

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

29,366,083‌

70,000‌

Farmer

Brothers

Co.†

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

180,600‌

222,000‌

Flowers

Foods

Inc.

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

4,923,960‌

31,500‌

Fomento

Economico

Mexicano

SAB

de

CV,

ADR

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

3,438,225‌

69,000‌

General

Mills

Inc.

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

4,415,310‌

1,456,300‌

Grupo

Bimbo

SAB

de

CV,

Cl. A

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

7,000,936‌

10,500‌

Heineken

Holding

NV

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

792,620‌

74,150‌

Heineken

NV

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

6,542,854‌

19,350‌

Heineken

NV,

ADR

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

854,883‌

128,050‌

ITO

EN

Ltd.

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

4,120,667‌

7,000‌

John

Bean

Technologies

Corp.

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

735,980‌

20,000‌

Kellanova

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

1,190,200‌

57,900‌

Kerry

Group

plc,

Cl. A

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

4,748,736‌

400‌

Kerry

Group

plc,

Cl. A

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

33,485‌

165,700‌

Kikkoman

Corp.

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

8,697,476‌

3,000‌

Lamb

Weston

Holdings

Inc.

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

277,380‌

16,950‌

LVMH

Moet

Hennessy

Louis

Vuitton

SE

....

12,838,166‌

55,000‌

Maple

Leaf

Foods

Inc.

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

1,056,875‌

37,000‌

MEIJI

Holdings

Co.

Ltd.

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

920,048‌

149,000‌

Mondelēz

International

Inc.,

Cl. A

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

10,340,600‌

44,000‌

Morinaga

Milk

Industry

Co.

Ltd.

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

1,656,772‌

19,500‌

National

Beverage

Corp.†

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

916,890‌

40,300‌

Nestlé

SA

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

4,567,348‌

94,300‌

Nissin

Foods

Holdings

Co.

Ltd.

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

7,840,454‌

83‌

Nomad

Foods

Ltd.†

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

1,263‌

52,550‌

PepsiCo

Inc.

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

8,904,072‌

45,125‌

Pernod

Ricard

SA

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

7,530,772‌

71,300‌

Post

Holdings

Inc.†

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

6,113,262‌

64,800‌

Remy

Cointreau

SA

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

7,923,158‌

16,450‌

Suntory

Beverage

&

Food

Ltd.

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

500,853‌

2,000‌

The

Boston

Beer

Co.

Inc.,

Cl. A†

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

779,060‌

19,400‌

The

Coca-Cola

Co.

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

1,086,012‌

1,150‌

The

Hain

Celestial

Group

Inc.†

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

11,926‌

19,400‌

The

J.M.

Smucker

Co.

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

2,384,454‌

87,500‌

The

Kraft

Heinz

Co.

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

2,943,500‌

215,000‌

Tingyi

(Cayman

Islands)

Holding

Corp.

.....

300,359‌

Shares

Market

Value

24,771‌

Tootsie

Roll

Industries

Inc.

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

$

739,662‌

42,000‌

TreeHouse

Foods

Inc.†

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

1,830,360‌

247,300‌

Yakult

Honsha

Co.

Ltd.

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

6,012,051‌

224,435,592‌

Health

Care

 —

5.8%

8,000‌

Abbott

Laboratories

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

774,800‌

25,300‌

AbbVie

Inc.

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

3,771,218‌

28,550‌

Amgen

Inc.

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

7,673,098‌

11,000‌

AstraZeneca

plc,

ADR

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

744,920‌

25,000‌

Bausch

+

Lomb

Corp.†

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

423,750‌

24,000‌

Bausch

Health

Cos.

Inc.†

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

197,280‌

41,200‌

Baxter

International

Inc.

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

1,554,888‌

7,970‌

Biogen

Inc.†

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

2,048,370‌

1,500‌

BioMarin

Pharmaceutical

Inc.†

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

132,720‌

6,000‌

Bio-Rad

Laboratories

Inc.,

Cl. A†

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

2,150,700‌

75,400‌

Bristol-Myers

Squibb

Co.

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

4,376,216‌

17,000‌

Catalent

Inc.†

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

774,010‌

17,800‌

Cencora

Inc.

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

3,203,466‌

2,000‌

Charles

River

Laboratories

International

Inc.†

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

391,960‌

7,400‌

Chemed

Corp.

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

3,845,780‌

8,000‌

CONMED

Corp.

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

806,800‌

15,000‌

DaVita

Inc.†

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

1,417,950‌

103,400‌

Demant

A/S†

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

4,288,760‌

30,000‌

DENTSPLY

SIRONA

Inc.

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

1,024,800‌

4,000‌

Elevance

Health

Inc.

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

1,741,680‌

80,000‌

Evolent

Health

Inc.,

Cl. A†

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

2,178,400‌

13,850‌

Fortrea

Holdings

Inc.†

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

395,972‌

4,000‌

Gerresheimer

AG

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

420,574‌

10,750‌

Haleon

plc

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

44,706‌

15,000‌

Halozyme

Therapeutics

Inc.†

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

573,000‌

24,190‌

HCA

Healthcare

Inc.

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

5,950,256‌

87,336‌

Henry

Schein

Inc.†

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

6,484,698‌

2,500‌

ICU

Medical

Inc.†

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

297,525‌

5,400‌

Indivior

plc†

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

117,210‌

20,000‌

Integer

Holdings

Corp.†

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

1,568,600‌

650‌

IQVIA

Holdings

Inc.†

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

127,888‌

23,550‌

Johnson

&

Johnson

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

3,667,912‌

12,325‌

Laboratory

Corp.

of

America

Holdings

.......

2,477,941‌

4,000‌

McKesson

Corp.

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

1,739,400‌

22,300‌

Medtronic

plc

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

1,747,428‌

44,450‌

Merck

&

Co.

Inc.

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

4,576,127‌

975‌

Moderna

Inc.†

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

100,708‌

70,000‌

Option

Care

Health

Inc.†

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

2,264,500‌

17,500‌

Perrigo

Co.

plc

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

559,125‌

26,200‌

Pfizer

Inc.

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

869,054‌

14,000‌

QuidelOrtho

Corp.†

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

1,022,560‌

350‌

Regeneron

Pharmaceuticals

Inc.†

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

288,036‌

40,000‌

Roche

Holding

AG,

ADR

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

1,357,200‌

6,900‌

Stryker

Corp.

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

1,885,563‌

28,794‌

Tenet

Healthcare

Corp.†

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

1,897,237‌

5

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Health

Care

(Continued)

13,000‌

The

Cigna

Group

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

$

3,718,910‌

5,000‌

The

Cooper

Companies

Inc.

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

1,590,050‌

1,375‌

UnitedHealth

Group

Inc.

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

693,261‌

3,700‌

Vertex

Pharmaceuticals

Inc.†

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

1,286,638‌

20,350‌

Zimmer

Biomet

Holdings

Inc.

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

2,283,677‌

7,000‌

Zoetis

Inc.

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

1,217,860‌

94,745,182‌

Hotels

and

Gaming

 —

1.0%

10,500‌

Accor

SA

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

354,570‌

5,400‌

Churchill

Downs

Inc.

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

626,616‌

3,250‌

Entain

plc

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

36,989‌

200‌

Flutter

Entertainment

plc†

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

32,674‌

327,100‌

Genting

Singapore

Ltd.

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

202,194‌

9,000‌

Hyatt

Hotels

Corp.,

Cl. A

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

954,720‌

1,100‌

Las

Vegas

Sands

Corp.

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

50,424‌

2,894,100‌

Mandarin

Oriental

International

Ltd.

..........

4,934,441‌

156,200‌

MGM

Resorts

International

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

5,741,912‌

17,100‌

Ryman

Hospitality

Properties

Inc.,

REIT

....

1,424,088‌

1,023,350‌

The

Hongkong

&

Shanghai

Hotels

Ltd.†

....

821,978‌

19,000‌

Universal

Entertainment

Corp.

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

280,474‌

3,000‌

Wyndham

Hotels

&

Resorts

Inc.

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

208,620‌

6,550‌

Wynn

Resorts

Ltd.

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

605,285‌

16,274,985‌

Machinery

 —

6.6%

22,000‌

Astec

Industries

Inc.

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

1,036,420‌

99,670‌

Caterpillar

Inc.

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

27,209,910‌

1,422,700‌

CNH

Industrial

NV

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

17,214,670‌

71,550‌

CNH

Industrial

NV,

Borsa

ltaliana

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

872,957‌

129,270‌

Deere

&

Co.

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

48,783,913‌

5,000‌

Generac

Holdings

Inc.†

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

544,800‌

13,000‌

Mueller

Water

Products

Inc.,

Cl. A

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

164,840‌

128,500‌

Xylem

Inc.

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

11,697,355‌

107,524,865‌

Manufactured

Housing

and

Recreational

Vehicles

 —

0.5%

23,500‌

Cavco

Industries

Inc.†

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

6,243,010‌

825‌

Nobility

Homes

Inc.

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

24,639‌

25,000‌

Skyline

Champion

Corp.†

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

1,593,000‌

7,860,649‌

Metals

and

Mining

 —

2.8%

48,350‌

Agnico

Eagle

Mines

Ltd.

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

2,197,508‌

147,400‌

Barrick

Gold

Corp.

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

2,144,670‌

68,600‌

Franco-Nevada

Corp.

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

9,157,414‌

105,850‌

Freeport-McMoRan

Inc.

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

3,947,146‌

28,000‌

Kinross

Gold

Corp.

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

127,680‌

15,000‌

MP

Materials

Corp.†

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

286,500‌

391,450‌

Newmont

Corp.

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

14,464,077‌

99,500‌

Royal

Gold

Inc.

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

10,579,835‌

Shares

Market

Value

74,750‌

Wheaton

Precious

Metals

Corp.

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

$

3,031,113‌

45,935,943‌

Publishing

 —

1.6%

98,000‌

News

Corp.,

Cl. A

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

1,965,880‌

62,880‌

S&P

Global

Inc.

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

22,976,981‌

112,000‌

The

E.W.

Scripps

Co.,

Cl. A†

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

613,760‌

25,556,621‌

Real

Estate

 —

0.7%

750‌

Alexandria

Real

Estate

Equities

Inc.,

REIT

..

75,075‌

7,000‌

American

Tower

Corp.,

REIT

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

1,151,150‌

2,150‌

Prologis

Inc.,

REIT

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

241,252‌

173,000‌

The

St.

Joe

Co.

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

9,399,090‌

35,800‌

Weyerhaeuser

Co.,

REIT

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

1,097,628‌

11,964,195‌

Retail

 —

2.4%

62,100‌

AutoNation

Inc.†

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

9,401,940‌

700‌

AutoZone

Inc.†

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

1,777,993‌

21,000‌

CarMax

Inc.†

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

1,485,330‌

21,135‌

Costco

Wholesale

Corp.

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

11,940,430‌

109,700‌

CVS

Health

Corp.

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

7,659,254‌

2,150‌

Dollar

Tree

Inc.†

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

228,867‌

975‌

Lowe's

Companies

Inc.

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

202,644‌

1,050‌

NIKE

Inc.,

Cl. B

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

100,401‌

15,000‌

Rush

Enterprises

Inc.,

Cl. B

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

679,350‌

2,325‌

Starbucks

Corp.

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

212,203‌

1,450‌

Target

Corp.

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

160,326‌

2,550‌

The

Home

Depot

Inc.

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

770,508‌

86,000‌

The

Kroger

Co.

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

3,848,500‌

12,000‌

Walgreens

Boots

Alliance

Inc.

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

266,880‌

1,725‌

Walmart

Inc.

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

275,879‌

1,300‌

Zalando

SE†

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

29,042‌

39,039,547‌

Semiconductors

 —

0.0%

1,900‌

Advanced

Micro

Devices

Inc.†

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

195,358‌

85‌

ARM

Holdings

plc,

ADR†

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

4,549‌

199,907‌

Specialty

Chemicals

 —

0.8%

900‌

Air

Products

and

Chemicals

Inc.

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

255,060‌

82,000‌

DuPont

de

Nemours

Inc.

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

6,116,380‌

45,500‌

H.B.

Fuller

Co.

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

3,121,755‌

500‌

International

Flavors

&

Fragrances

Inc.

.....

34,085‌

18,000‌

Rogers

Corp.†

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

2,366,460‌

20,000‌

Sensient

Technologies

Corp.

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

1,169,600‌

13,063,340‌

Telecommunications

 —

1.3%

2,200‌

AT&T

Inc.

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

33,044‌

158,250‌

Deutsche

Telekom

AG,

ADR

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

3,316,920‌

52,000‌

GCI

Liberty

Inc.,

Escrow†

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

0‌

14,000‌

Hellenic

Telecommunications

Organization

SA

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

204,557‌

6

The

Gabelli

Asset

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Telecommunications

(Continued)

23,400‌

Hellenic

Telecommunications

Organization

SA,

ADR

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

$

164,034‌

5,600‌

Orange

SA,

ADR

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

64,344‌

7,500‌

SoftBank

Group

Corp.,

ADR

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

157,875‌

2,436,200‌

Telecom

Italia

SpA†

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

762,657‌

36,000‌

Telefonica

Brasil

SA,

ADR

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

307,800‌

271,000‌

Telefonica

SA,

ADR

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

1,102,970‌

686,250‌

Telephone

and

Data

Systems

Inc.

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

12,565,237‌

102,800‌

Telesat

Corp.†

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

1,470,040‌

18,700‌

TIM

SA,

ADR

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

278,630‌

1,000‌

VEON

Ltd.,

ADR†

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

19,500‌

19,150‌

Verizon

Communications

Inc.

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

620,651‌

21,068,259‌

Transportation

 —

1.2%

10,000‌

Canadian

Pacific

Kansas

City

Ltd.

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

744,100‌

171,550‌

GATX

Corp.

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

18,669,786‌

825‌

Union

Pacific

Corp.

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

167,995‌

19,581,881‌

Wireless

Communications

 —

0.3%

85,750‌

America

Movil

SAB

de

CV,

ADR

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

1,485,190‌

215,000‌

Operadora

De

Sites

Mexicanos

SAB

de

CV

177,527‌

21,485‌

T-Mobile

US

Inc.†

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

3,008,974‌

14,500‌

United

States

Cellular

Corp.†

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

623,065‌

5,294,756‌

TOTAL

COMMON

STOCKS

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

1,633,349,504‌

CLOSED-END

FUNDS

 —

0.1%

2,000‌

Altaba

Inc.,

Escrow†

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

4,680‌

10,700‌

Royce

Global

Value

Trust

Inc.

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

93,202‌

78,000‌

Royce

Value

Trust

Inc.

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

1,003,860‌

TOTAL

CLOSED-END

FUNDS

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

1,101,742‌

PREFERRED

STOCKS

 —

0.0%

Electronics

 —

0.0%

95‌

WESCO

International

Inc.,

Ser.

A,

10.625%

2,509‌

Retail

 —

0.0%

23,000‌

Qurate

Retail

Inc.,

8.000%,

03/15/31

........

658,950‌

TOTAL

PREFERRED

STOCKS

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

661,459‌

WARRANTS

 —

0.0%

Energy

and

Utilities

 —

0.0%

1,694‌

Weatherford

International

plc,

expire

12/13/23†

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

4,066‌

Principal

Amount

Market

Value

U.S.

GOVERNMENT

OBLIGATIONS

 —

0.2%

$

3,915,000‌

U.S.

Treasury

Bills,

5.378%

to

5.462%††,

12/14/23

to

12/28/23

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

$

3,869,441‌

TOTAL

INVESTMENTS

BEFORE

SECURITIES

SOLD

SHORT

—

100.0%

(Cost

$446,270,519)

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

$

1,638,986,212‌

Shares

Market

Value

SECURITIES

SOLD

SHORT

—

(0.0)%

Environmental

Services

—

(0.0)%

125‌

Veralto

Corp.

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

$

10,570‌

TOTAL

SECURITIES

SOLD

SHORT

(Proceeds

received

$10,772)(a)

.........

$

10,570‌

(a)

At

September

30,

2023,

these

proceeds

are

being

held

at

Pershing

LLC.

†

Non-income

producing

security.

††

Represents

annualized

yields

at

dates

of

purchase.

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

REIT

Real

Estate

Investment

Trust