Gabelli Small Cap Growth Fund (GABSX) NPORT-P The Gabelli Equity Income Fund (Jun 2020 report)

The Gabelli Equity Income Fund

Schedule of Investments — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 100.0%
		Aerospace — 1.2%
	56,000	Aerojet Rocketdyne Holdings Inc.†	$	2,219,840
	2,000	Lockheed Martin Corp.		729,840
	24,000	Raytheon Technologies Corp.		1,478,880
	10,000	Rockwell Automation Inc.		2,130,000
	70,000	Rolls-Royce Holdings plc		247,547
				6,806,107
		Agriculture — 0.5%
	65,000	Archer-Daniels-Midland Co.		2,593,500
	12,000	The Mosaic Co.		150,120
				2,743,620
		Automotive — 1.0%
	147,000	Navistar International Corp.†		4,145,400
	16,000	PACCAR Inc.		1,197,600
				5,343,000
		Automotive: Parts and Accessories — 4.0%
	85,000	Dana Inc.		1,036,150
	235,000	Genuine Parts Co.(a)		20,435,600
				21,471,750
		Broadcasting — 0.3%
	38,000	Liberty Global plc, Cl. A†		830,680
	12,000	Liberty Global plc, Cl. C†		258,120
	34,500	MSG Networks Inc., Cl. A†		343,275
				1,432,075
		Building and Construction — 1.6%
	30,000	Carrier Global Corp.		666,600
	75,000	Fortune Brands Home & Security Inc.		4,794,750
	43,000	Herc Holdings Inc.†		1,321,390
	50,000	Johnson Controls International plc		1,707,000
				8,489,740
		Business Services — 4.6%
	18,000	Automatic Data Processing Inc.		2,680,020
	44,500	Mastercard Inc., Cl. A(a)		13,158,650
	2,400	MSC Industrial Direct Co. Inc., Cl. A		174,744
	32,000	Pentair plc		1,215,680
	23,000	S&P Global Inc.		7,578,040
				24,807,134
		Cable and Satellite — 1.0%
	5,500	AMC Networks Inc., Cl. A†		128,645
	138,000	DISH Network Corp., Cl. A†		4,762,380
	16,000	EchoStar Corp., Cl. A†		447,360
				5,338,385
		Communications Equipment — 0.2%
	44,000	Corning Inc.		1,139,600

Shares			Market Value
		Computer Hardware — 1.5%
	14,000	Apple Inc.	$	5,107,200
	24,000	International Business Machines Corp.		2,898,480
				8,005,680
		Computer Software and Services — 1.9%
	110,000	Hewlett Packard Enterprise Co.		1,070,300
	45,000	Microsoft Corp.		9,157,950
				10,228,250
		Consumer Products — 8.0%
	16,000	Altria Group Inc.		628,000
	19,800	Edgewell Personal Care Co.†		616,968
	53,000	Energizer Holdings Inc.		2,516,970
	30,000	Essity AB, Cl. A†		949,754
	1,500	National Presto Industries Inc.		131,085
	35,000	Reckitt Benckiser Group plc		3,223,136
	470,500	Swedish Match AB		33,072,643
	46,000	Unilever NV		2,450,420
				43,588,976
		Consumer Services — 0.2%
	1,800	Allegion plc		183,996
	23,000	Rollins Inc.		974,970
				1,158,966
		Diversified Industrial — 4.6%
	80,000	Crane Co.		4,756,800
	42,000	Eaton Corp. plc		3,674,160
	6,000	Honeywell International Inc.		867,540
	8,824	Ingersoll Rand Inc.†		248,131
	48,000	ITT Inc.		2,819,520
	45,000	Jardine Matheson Holdings Ltd.		1,878,300
	169,000	Jardine Strategic Holdings Ltd.		3,641,950
	36,000	nVent Electric plc		674,280
	120,000	Textron Inc.		3,949,200
	220,000	Toray Industries Inc.		1,034,036
	10,000	Trane Technologies plc		889,800
	25,000	Trinity Industries Inc.		532,250
				24,965,967
		Electronics — 1.8%
	20,000	Sony Corp.		1,367,724
	46,000	Sony Corp., ADR		3,179,980
	51,000	TE Connectivity Ltd.		4,159,050
	10,000	Texas Instruments Inc.		1,269,700
				9,976,454
		Energy and Utilities: Electric — 0.3%
	5,000	Avangrid Inc.		209,900
	35,000	Korea Electric Power Corp., ADR†		279,300
	92,000	The AES Corp.		1,333,080
				1,822,280

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The Gabelli Equity Income Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Energy and Utilities: Integrated — 0.7%
	95,000	Energy Transfer LP	$	676,400
	29,000	Eni SpA		276,616
	6,500	Iberdrola SA, ADR		301,860
	58,000	OGE Energy Corp.		1,760,880
	24,000	PNM Resources Inc.		922,560
				3,938,316
		Energy and Utilities: Natural Gas — 1.7%
	137,000	National Fuel Gas Co.		5,744,410
	11,500	ONE Gas Inc.		886,075
	69,000	ONEOK Inc.		2,292,180
	7,500	Southwest Gas Holdings Inc.		517,875
				9,440,540
		Energy and Utilities: Oil — 2.5%
	60,000	Chevron Corp.		5,353,800
	7,000	ConocoPhillips		294,140
	24,000	Devon Energy Corp.		272,160
	15,000	Exxon Mobil Corp.		670,800
	75,000	Hess Corp.		3,885,750
	18,000	Marathon Petroleum Corp.		672,840
	10,000	Occidental Petroleum Corp.		183,000
	42,500	Royal Dutch Shell plc, Cl. A, ADR		1,389,325
	16,000	TOTAL SA, ADR		615,360
				13,337,175
		Energy and Utilities: Services — 0.6%
	224,000	Halliburton Co.		2,907,520
	27,000	Oceaneering International Inc.†		172,530
	10,000	Schlumberger Ltd.		183,900
				3,263,950
		Energy and Utilities: Water — 0.2%
	5,000	Essential Utilities Inc.		211,200
	31,000	Severn Trent plc		952,233
				1,163,433
		Entertainment — 2.0%
	43,000	Grupo Televisa SAB, ADR†		225,320
	1,000	Madison Square Garden Entertainment Corp.†		75,000
	1,000	Madison Square Garden Sports Corp.†		146,890
	409,300	ViacomCBS Inc., Cl. A		10,478,080
				10,925,290
		Environmental Services — 0.2%
	10,000	Republic Services Inc.		820,500
	4,000	Waste Management Inc.		423,640
				1,244,140
		Equipment and Supplies — 3.5%
	10,000	A.O. Smith Corp.		471,200
	16,000	Danaher Corp.		2,829,280
	171,500	Flowserve Corp.		4,891,180

Shares			Market Value
	56,000	Graco Inc.	$	2,687,440
	22,000	Minerals Technologies Inc.		1,032,460
	157,000	Mueller Industries Inc.		4,173,060
	15,500	Parker-Hannifin Corp.		2,840,685
				18,925,305
		Financial Services — 13.6%
	3,900	Alleghany Corp.		1,907,646
	28,000	AllianceBernstein Holding LP		762,720
	44,000	American Express Co.(a)		4,188,800
	21,500	Ameris Bancorp		507,185
	8,000	Argo Group International Holdings Ltd.		278,640
	5,195	Banco Santander Chile, ADR		85,198
	150,000	Bank of America Corp.		3,562,500
	13,056	BNP Paribas SA†		518,819
	31,000	Eaton Vance Corp.		1,196,600
	45,000	Interactive Brokers Group Inc., Cl. A		1,879,650
	15,000	Jefferies Financial Group Inc.		233,250
	15,000	JPMorgan Chase & Co.		1,410,900
	57,000	Julius Baer Group Ltd.		2,385,403
	48,000	Kinnevik AB, Cl. A		1,256,895
	85,000	Loews Corp.		2,914,650
	20,000	M&T Bank Corp.		2,079,400
	31,200	Marsh & McLennan Cos. Inc.		3,349,944
	20,000	Morgan Stanley		966,000
	9,000	Popular Inc.		334,530
	120,000	SLM Corp.		843,600
	125,000	State Street Corp.		7,943,750
	270,000	Sterling Bancorp		3,164,400
	6,600	T. Rowe Price Group Inc.		815,100
	325,000	The Bank of New York Mellon Corp.(a)		12,561,250
	18,000	The Goldman Sachs Group Inc.		3,557,160
	29,000	The Hartford Financial Services Group Inc.		1,117,950
	87,000	The PNC Financial Services Group Inc.(a)		9,153,270
	53,000	Valley National Bancorp		414,460
	52,000	Waddell & Reed Financial Inc., Cl. A		806,520
	138,000	Wells Fargo & Co.		3,532,800
				73,728,990
		Food and Beverage — 19.2%
	1,000	Anheuser-Busch InBev SA/NV		49,282
	296,000	Brown-Forman Corp., Cl. A		17,040,720
	34,000	Campbell Soup Co.		1,687,420
	80,000	Coca-Cola Amatil Ltd., ADR		480,000
	20,000	Coca-Cola European Partners plc		755,200
	10,000	Coca-Cola Femsa SAB de CV, ADR		438,500
	6,200	Constellation Brands Inc., Cl. A		1,084,690
	50,000	Danone SA†		3,458,116
	635,000	Davide Campari-Milano SpA		5,350,643
	52,500	Diageo plc, ADR		7,055,475
	87,500	Fomento Economico Mexicano SAB de CV, ADR		5,425,875
	1,000	General Mills Inc.		61,650

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The Gabelli Equity Income Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Food and Beverage (Continued)
	1,900,000	Grupo Bimbo SAB de CV, Cl. A	$	3,187,539
	103,000	Heineken NV		9,495,978
	170,000	ITO EN Ltd.		9,572,586
	21,500	Kellogg Co.		1,420,290
	2,000	McCormick & Co. Inc., Cl. V		355,300
	18,000	McCormick & Co. Inc., Non-Voting		3,229,380
	43,000	Mondelēz International Inc., Cl. A		2,198,590
	37,000	Nestlé SA		4,090,327
	70,000	Nissin Foods Holdings Co. Ltd.		6,191,248
	38,000	PepsiCo Inc.		5,025,880
	30,500	Pernod Ricard SA		4,799,035
	49,000	Remy Cointreau SA		6,672,209
	35,000	Sapporo Holdings Ltd.		655,105
	10,000	The Coca-Cola Co.		446,800
	1,000	The Hershey Co.		129,620
	50,000	The Kraft Heinz Co.		1,594,500
	6,001	Tootsie Roll Industries Inc.		205,654
	33,000	Yakult Honsha Co. Ltd.		1,940,727
				104,098,339
		Health Care — 5.0%
	7,500	Abbott Laboratories		685,725
	3,500	AbbVie Inc.		343,630
	4,000	Alcon Inc.†		229,280
	78,000	Baxter International Inc.		6,715,800
	6,000	Bio-Rad Laboratories Inc., Cl. A†		2,708,940
	118,000	Bristol-Myers Squibb Co.		6,938,400
	73,000	Demant A/S†		1,925,021
	8,000	GlaxoSmithKline plc, ADR		326,320
	32,000	Henry Schein Inc.†		1,868,480
	17,000	Merck & Co. Inc.		1,314,610
	16,000	Novartis AG, ADR		1,397,440
	20,000	Pfizer Inc.		654,000
	45,000	Roche Holding AG, ADR		1,952,100
	2,500	Zimmer Biomet Holdings Inc.		298,400
				27,358,146
		Hotels and Gaming — 0.1%
	23,000	MGM Resorts International.		386,400
	1,500	Wynn Resorts Ltd.		111,735
				498,135
		Machinery — 2.4%
	6,000	Caterpillar Inc.		759,000
	68,000	Deere & Co.		10,686,200
	12,500	Otis Worldwide Corp.		710,750
	12,000	Xylem Inc.		779,520
				12,935,470
		Metals and Mining — 2.0%
	130,000	Freeport-McMoRan Inc.		1,504,100

Shares			Market Value
	148,000	Newmont Corp.	$	9,137,520
				10,641,620
		Paper and Forest Products — 0.6%
	23,000	Svenska Cellulosa AB SCA, Cl. A†		268,056
	126,000	Weyerhaeuser Co., REIT		2,829,960
				3,098,016
		Publishing — 0.0%
	3,000	Value Line Inc.		80,970
		Real Estate — 0.1%
	9,000	Griffin Industrial Realty Inc.		487,530
		Retail — 4.7%
	15,000	Cie Financiere Richemont SA		956,884
	36,000	Copart Inc.†		2,997,720
	12,000	Costco Wholesale Corp.		3,638,520
	98,800	CVS Health Corp.		6,419,036
	69,000	Ingles Markets Inc., Cl. A		2,971,830
	20,000	Macy’s Inc.		137,600
	82,000	Seven & i Holdings Co. Ltd.		2,673,211
	8,000	The Home Depot Inc.		2,004,080
	70,000	Walgreens Boots Alliance Inc.		2,967,300
	2,000	Walmart Inc.		239,560
	6,000	Weis Markets Inc.		300,720
				25,306,461
		Specialty Chemicals — 1.0%
	8,700	Albemarle Corp.		671,727
	3,000	Ashland Global Holdings Inc.		207,300
	70,000	Ferro Corp.†		835,800
	8,000	FMC Corp.		796,960
	46,000	H.B. Fuller Co.		2,051,600
	2,000	NewMarket Corp.		800,960
	600	Quaker Chemical Corp.		111,390
				5,475,737
		Telecommunications — 5.0%
	120,000	BCE Inc.		5,012,400
	185,000	Deutsche Telekom AG, ADR		3,102,450
	28,000	Loral Space & Communications Inc.		546,560
	12,000	Orange SA, ADR		142,800
	13,000	Proximus SA		264,943
	24,500	Telefonica SA, ADR		118,090
	162,000	Telephone and Data Systems Inc.		3,220,560
	94,000	TELUS Corp.		1,576,380
	235,500	Verizon Communications Inc.(a)		12,983,115
				26,967,298
		Transportation — 1.3%
	119,000	GATX Corp.		7,256,620
		Wireless Communications — 0.9%
	100,000	BT Group plc, Cl. A		141,319

3

The Gabelli Equity Income Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Wireless Communications (Continued)
	183,000	NTT DOCOMO Inc.	$	4,884,520
	20,000	Turkcell Iletisim Hizmetleri A/S, ADR		115,200
				5,141,039
		TOTAL COMMON STOCKS		542,630,504
		TOTAL INVESTMENTS — 100.0%
		(Cost $256,268,390)	$	542,630,504

(a) Securities, or a portion thereof, with a value of $36,902,400 were deposited with Pershing LLC.

† Non-income producing security.

ADR   American Depositary Receipt

REIT   Real Estate Investment Trust

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