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