The Gabelli Global Financial Services Fund
Schedule of Investments — December 31, 2019 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS — 96.4% | ||||||||
Automobiles — 6.2% | ||||||||
8,500 | Daimler AG | $ | 470,718 | |||||
4,000 | Toyota Motor Corp., ADR | 562,160 | ||||||
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1,032,878 | ||||||||
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Banks — 23.3% | ||||||||
7,000 | CIT Group Inc. | 319,410 | ||||||
105,500 | Commerzbank AG | 652,881 | ||||||
29,500 | Credit Suisse Group AG, ADR | 396,775 | ||||||
93,300 | Dah Sing Financial Holdings Ltd. | 367,582 | ||||||
21,000 | Japan Post Bank Co. Ltd. | 202,936 | ||||||
18,200 | Mediobanca Banca di Credito Finanziario SpA | 200,353 | ||||||
9,600 | Shinhan Financial Group Co. Ltd., ADR | 365,472 | ||||||
27,500 | Shinsei Bank Ltd. | 423,933 | ||||||
7,300 | State Street Corp. | 577,430 | ||||||
26,800 | UniCredit SpA | 391,403 | ||||||
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3,898,175 | ||||||||
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Consumer Finance — 7.3% | ||||||||
24,400 | Ally Financial Inc. | 745,664 | ||||||
4,600 | Capital One Financial Corp. | 473,386 | ||||||
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| |||||||
1,219,050 | ||||||||
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Diversified Banks — 19.2% | ||||||||
239,000 | Barclays plc | 568,707 | ||||||
9,400 | Citigroup Inc. | 750,966 | ||||||
32,300 | Credit Agricole SA | 468,287 | ||||||
150,000 | Royal Bank of Scotland Group plc | 477,455 | ||||||
11,010 | Societe Generale SA | 383,034 | ||||||
59,000 | Standard Chartered plc | 556,754 | ||||||
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3,205,203 | ||||||||
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| |||||||
Homebuilders — 5.4% | ||||||||
3,100 | Cavco Industries Inc.† | 605,678 | ||||||
17,600 | Legacy Housing Corp.† | 292,864 | ||||||
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898,542 | ||||||||
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| |||||||
Institutional Brokerage — 6.4% | ||||||||
78,600 | Daiwa Securities Group Inc. | 400,035 | ||||||
31,110 | Jefferies Financial Group Inc. | 664,821 | ||||||
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| |||||||
1,064,856 | ||||||||
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Shares | Market Value | |||||||
Institutional Trust, Fiduciary, and Custody — 4.2% |
| |||||||
13,900 | The Bank of New York Mellon Corp. | $ | 699,587 | |||||
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Investment Companies — 1.3% | ||||||||
195,131 | Atlas Mara Ltd.† | 213,668 | ||||||
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Investment Management — 12.4% | ||||||||
5,400 | Diamond Hill Investment Group Inc. | 758,484 | ||||||
22,000 | Franklin Resources Inc. | 571,560 | ||||||
23,800 | Janus Henderson Group plc | 581,910 | ||||||
5,500 | Westwood Holdings Group Inc. | 162,910 | ||||||
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2,074,864 | ||||||||
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| |||||||
Life Insurance — 7.2% | ||||||||
137,040 | Aegon NV | 625,173 | ||||||
15,302 | NN Group NV | 580,498 | ||||||
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| |||||||
1,205,671 | ||||||||
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Property and Casualty Insurance — 2.2% |
| |||||||
7,700 | Assured Guaranty Ltd. | 377,454 | ||||||
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Real Estate Owners and Developers — 1.3% |
| |||||||
88,000 | Hang Lung Group Ltd. | 217,507 | ||||||
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| |||||||
TOTAL COMMON STOCKS | 16,107,455 | |||||||
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Principal Amount | ||||||||
U.S. GOVERNMENT OBLIGATIONS — 3.6% |
| |||||||
$ 597,000 | U.S. Treasury Bill, | 595,795 | ||||||
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| |||||||
TOTAL INVESTMENTS — 100.0% | $ | 16,703,250 | ||||||
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† | Non-income producing security. |
†† | Represents annualized yields at dates of purchase. |
ADR | American Depositary Receipt |
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