The Gabelli Small Cap Growth Fund
Schedule of Investments — December 31, 2020 (Unaudited)
Shares | Market | |||||||
COMMON STOCKS — 99.0% | ||||||||
Aerospace — 2.0% | ||||||||
654,000 | Aerojet Rocketdyne Holdings Inc.† | $ | 34,563,900 | |||||
20,000 | Allied Motion Technologies Inc. | 1,022,000 | ||||||
40,000 | Innovative Solutions and Support Inc. | 260,800 | ||||||
|
| |||||||
35,846,700 | ||||||||
|
| |||||||
Agriculture — 0.0% | ||||||||
12,000 | Cadiz Inc.† | 127,800 | ||||||
13,500 | Limoneira Co. | 224,775 | ||||||
|
| |||||||
352,575 | ||||||||
|
| |||||||
Automotive — 0.1% | ||||||||
40,000 | Navistar International Corp.† | 1,758,400 | ||||||
1,200 | PACCAR Inc. | 103,536 | ||||||
|
| |||||||
1,861,936 | ||||||||
|
| |||||||
Automotive: Parts and Accessories — 4.0% |
| |||||||
155,000 | BorgWarner Inc. | 5,989,200 | ||||||
88,022 | China Automotive Systems Inc.† | 549,257 | ||||||
1,120,000 | Dana Inc. | 21,862,400 | ||||||
848,000 | Freni Brembo SpA† | 11,188,359 | ||||||
385,000 | Modine Manufacturing Co.† | 4,835,600 | ||||||
18,000 | Monro Inc. | 959,400 | ||||||
4,300 | O’Reilly Automotive Inc.† | 1,946,051 | ||||||
45,000 | Puradyn Filter Technologies Inc.† | 360 | ||||||
191,900 | Standard Motor Products Inc. | 7,764,274 | ||||||
244,000 | Strattec Security Corp.(a) | 12,043,840 | ||||||
318,000 | Tenneco Inc., Cl. A† | 3,370,800 | ||||||
19,500 | Thor Industries Inc. | 1,813,305 | ||||||
10,000 | Uni-Select Inc. | 63,713 | ||||||
|
| |||||||
72,386,559 | ||||||||
|
| |||||||
Aviation: Parts and Services — 4.1% | ||||||||
20,000 | AAR Corp. | 724,400 | ||||||
9,500 | Astronics Corp.† | 125,685 | ||||||
22,700 | Astronics Corp., Cl. B†. | 301,286 | ||||||
46,000 | Ducommun Inc.† | 2,470,200 | ||||||
682,000 | Kaman Corp. | 38,962,660 | ||||||
89,000 | Moog Inc., Cl. A | 7,057,700 | ||||||
16,500 | Moog Inc., Cl. B | 1,250,535 | ||||||
3,840,000 | Signature Aviation plc† | 20,322,144 | ||||||
33,500 | Woodward Inc. | 4,071,255 | ||||||
|
| |||||||
75,285,865 | ||||||||
|
| |||||||
Broadcasting — 1.8% | ||||||||
127,500 | Beasley Broadcast Group Inc., Cl. A | 189,975 | ||||||
10,000 | Cogeco Communications Inc. | 768,796 | ||||||
23,300 | Cogeco Inc. | 1,500,616 | ||||||
185,000 | Corus Entertainment Inc., Cl. B | 622,044 | ||||||
40,000 | Fox Corp., Cl. A. | 1,164,800 | ||||||
25,000 | Gray Television Inc.† | 447,250 | ||||||
72,350 | Gray Television Inc., Cl. A†. | 1,208,976 | ||||||
260,000 | ITV plc† | 379,727 | ||||||
13,000 | Liberty Broadband Corp., Cl. A† | 2,048,540 | ||||||
11,000 | Liberty Broadband Corp., Cl. C† | 1,742,070 |
Shares | Market | |||||||
20,000 | Liberty Media Corp.-Liberty Formula One, Cl. A† | $ | 759,800 | |||||
27,000 | Liberty Media Corp.-Liberty Formula One, Cl. C† | 1,150,200 | ||||||
64,000 | Liberty Media Corp.-Liberty SiriusXM, Cl. A† | 2,764,160 | ||||||
34,452 | Liberty Media Corp.-Liberty SiriusXM, Cl. C† | 1,499,006 | ||||||
345,000 | MSG Networks Inc., Cl. A† | 5,085,300 | ||||||
22,900 | Nexstar Media Group Inc., Cl. A | 2,500,451 | ||||||
140,000 | Salem Media Group Inc. | 145,600 | ||||||
166,000 | Sinclair Broadcast Group Inc., Cl. A | 5,287,100 | ||||||
480,000 | Sirius XM Holdings Inc. | 3,057,600 | ||||||
|
| |||||||
32,322,011 | ||||||||
|
| |||||||
Building and Construction — 5.6% |
| |||||||
79,000 | Arcosa Inc. | 4,339,470 | ||||||
96,000 | D.R. Horton Inc. | 6,616,320 | ||||||
29,000 | Gibraltar Industries Inc.† | 2,086,260 | ||||||
424,000 | Herc Holdings Inc.† | 28,157,840 | ||||||
128,000 | KB Home | 4,290,560 | ||||||
390,000 | Lennar Corp., Cl. B | 23,868,000 | ||||||
20,000 | Louisiana-Pacific Corp. | 743,400 | ||||||
103,000 | MDC Holdings Inc. | 5,005,800 | ||||||
18,500 | Meritage Homes Corp.† | 1,532,170 | ||||||
2,700 | NVR Inc.† | 11,015,622 | ||||||
153,000 | PulteGroup Inc. | 6,597,360 | ||||||
65,000 | Titan Machinery Inc.†. | 1,270,750 | ||||||
162,000 | Toll Brothers Inc. | 7,042,140 | ||||||
|
| |||||||
102,565,692 | ||||||||
|
| |||||||
Business Services — 3.1% | ||||||||
13,000 | ACCO Brands Corp. | 109,850 | ||||||
583,000 | Clear Channel Outdoor Holdings Inc.† | 961,950 | ||||||
395,000 | Diebold Nixdorf Inc.† | 4,210,700 | ||||||
70,000 | Element Solutions Inc. | 1,241,100 | ||||||
70,000 | GP Strategies Corp.† | 830,200 | ||||||
13,000 | GSE Systems Inc.† | 17,160 | ||||||
200,000 | IAA Inc.† | 12,996,000 | ||||||
59,000 | Live Nation Entertainment Inc.† | 4,335,320 | ||||||
165,000 | Macquarie Infrastructure Corp. | 6,195,750 | ||||||
16,000 | McGrath RentCorp. | 1,073,600 | ||||||
20,000 | Sealed Air Corp. | 915,800 | ||||||
71,000 | Sohgo Security Services Co. Ltd. | 3,678,756 | ||||||
8,000 | Stamps.com Inc.† | 1,569,520 | ||||||
96,000 | Team Inc.† | 1,046,400 | ||||||
371,000 | The Interpublic Group of Companies Inc. | 8,725,920 | ||||||
25,000 | TransAct Technologies Inc.† | 177,500 | ||||||
1,645,000 | Trans-Lux Corp.†(a) | 296,100 | ||||||
37,000 | United Rentals Inc.† | 8,580,670 | ||||||
|
| |||||||
56,962,296 | ||||||||
|
| |||||||
Cable — 0.8% | ||||||||
160,000 | AMC Networks Inc., Cl. A† | 5,723,200 | ||||||
40,000 | DISH Network Corp., Cl. A† | 1,293,600 | ||||||
30,000 | EchoStar Corp., Cl. A† | 635,700 |
1
The Gabelli Small Cap Growth Fund
Schedule of Investments (Continued) — December 31, 2020 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Cable (Continued) | ||||||||
121,000 | Liberty Global plc, Cl. A† | $ | 2,930,620 | |||||
145,000 | Liberty Global plc, Cl. C† | 3,429,250 | ||||||
90,000 | WideOpenWest Inc.† | 960,300 | ||||||
|
| |||||||
14,972,670 | ||||||||
|
| |||||||
Communications Equipment — 0.1% | ||||||||
250,000 | Communications Systems Inc. | 1,142,500 | ||||||
|
| |||||||
Computer Software and Services — 2.3% |
| |||||||
16,000 | 3D Systems Corp.† | 167,680 | ||||||
78,500 | Activision Blizzard Inc. | 7,288,725 | ||||||
390,000 | Alithya Group Inc., Cl. A† | 819,000 | ||||||
177,000 | Avid Technology Inc.† | 2,808,990 | ||||||
140,000 | GTY Technology Holdings Inc.† | 725,200 | ||||||
13,000 | MKS Instruments Inc. | 1,955,850 | ||||||
38,000 | Rockwell Automation Inc. | 9,530,780 | ||||||
78,000 | Stratasys Ltd.† | 1,616,160 | ||||||
38,200 | Tyler Technologies Inc.† | 16,675,064 | ||||||
|
| |||||||
41,587,449 | ||||||||
|
| |||||||
Consumer Products — 2.6% | ||||||||
30,000 | 1-800-Flowers.com Inc., Cl. A† | 780,000 | ||||||
85,000 | Brunswick Corp. | 6,480,400 | ||||||
32,000 | Chofu Seisakusho Co. Ltd. | 645,237 | ||||||
41,000 | Church & Dwight Co. Inc. | 3,576,430 | ||||||
17,000 | Energizer Holdings Inc. | 717,060 | ||||||
5,000 | Ginko International Co. Ltd. | 25,981 | ||||||
2,000 | Harley-Davidson Inc. | 73,400 | ||||||
140,000 | Hunter Douglas NV† | 10,980,190 | ||||||
2,500 | Kobayashi Pharmaceutical Co. Ltd. | 305,312 | ||||||
4,000 | LCI Industries | 518,720 | ||||||
230,000 | Marine Products Corp. | 3,344,200 | ||||||
3,000 | National Presto Industries Inc. | 265,290 | ||||||
230,000 | Sally Beauty Holdings Inc.† | 2,999,200 | ||||||
215,000 | Samick Musical Instruments Co. Ltd. | 288,962 | ||||||
3,700 | Shimano Inc. | 863,053 | ||||||
14,000 | Steven Madden Ltd. | 494,480 | ||||||
102,000 | Swedish Match AB | 7,906,996 | ||||||
10,000 | The Scotts Miracle-Gro Co. | 1,991,400 | ||||||
9,500 | WD-40 Co. | 2,523,960 | ||||||
85,000 | Wolverine World Wide Inc. | 2,656,250 | ||||||
|
| |||||||
47,436,521 | ||||||||
|
| |||||||
Consumer Services — 1.2% | ||||||||
53,000 | Bowlin Travel Centers Inc.† | 135,150 | ||||||
2,750 | Collectors Universe Inc. | 207,350 | ||||||
3,000 | H&E Equipment Services Inc. | 89,430 | ||||||
5,000 | IAC/InterActiveCorp.† | 946,750 | ||||||
260,000 | KAR Auction Services Inc. | 4,838,600 | ||||||
420,000 | Rollins Inc. | 16,409,400 | ||||||
|
| |||||||
22,626,680 | ||||||||
|
| |||||||
Diversified Industrial — 10.1% | ||||||||
10,500 | Acuity Brands Inc. | 1,271,445 |
Shares | Market Value | |||||||
58,000 | Albany International Corp., Cl. A | $ | 4,258,360 | |||||
187,496 | Ampco-Pittsburgh Corp.† | 1,027,478 | ||||||
65,500 | Burnham Holdings Inc., Cl. A | 835,125 | ||||||
359,000 | Crane Co. | 27,879,940 | ||||||
109,000 | EnPro Industries Inc. | 8,231,680 | ||||||
115,000 | Greif Inc., Cl. A | 5,391,200 | ||||||
95,700 | Greif Inc., Cl. B | 4,629,966 | ||||||
1,382,000 | Griffon Corp. | 28,165,160 | ||||||
186,000 | Jardine Strategic Holdings Ltd. | 4,627,680 | ||||||
5,000 | JSP Corp. | 83,822 | ||||||
83,000 | Kimball International Inc., Cl. B | 991,850 | ||||||
60,000 | L.B. Foster Co., Cl. A† | 903,000 | ||||||
53,000 | Lawson Products Inc.† | 2,698,230 | ||||||
54,000 | Lincoln Electric Holdings Inc. | 6,277,500 | ||||||
40,000 | Lindsay Corp. | 5,138,400 | ||||||
22,500 | Lydall Inc.† | 675,675 | ||||||
30,500 | Matthews International Corp., Cl. A | 896,700 | ||||||
922,000 | Myers Industries Inc. | 19,159,160 | ||||||
72,000 | Oil-Dri Corp. of America | 2,453,760 | ||||||
14,000 | Olin Corp. | 343,840 | ||||||
300,000 | Park-Ohio Holdings Corp. | 9,270,000 | ||||||
12,500 | Pentair plc | 663,625 | ||||||
94,000 | Raven Industries Inc. | 3,110,460 | ||||||
16,100 | Roper Technologies Inc. | 6,940,549 | ||||||
69,000 | Sonoco Products Co. | 4,088,250 | ||||||
55,000 | Standex International Corp. | 4,263,600 | ||||||
170,000 | Steel Connect Inc.† | 133,790 | ||||||
33,629 | Steel Partners Holdings LP† | 361,512 | ||||||
13,000 | T. Hasegawa Co. Ltd. | 273,207 | ||||||
8,000 | Terex Corp. | 279,120 | ||||||
346,000 | Textron Inc. | 16,722,180 | ||||||
385,000 | Tredegar Corp. | 6,429,500 | ||||||
228,000 | Trinity Industries Inc. | 6,016,920 | ||||||
48,000 | Ultra Electronics Holdings plc | 1,360,061 | ||||||
|
| |||||||
185,852,745 | ||||||||
|
| |||||||
Electronics — 2.2% | ||||||||
142,500 | Badger Meter Inc. | 13,403,550 | ||||||
214,000 | Bel Fuse Inc., Cl. A(a) | 2,856,900 | ||||||
480,000 | CTS Corp. | 16,478,400 | ||||||
30,000 | Daktronics Inc. | 140,400 | ||||||
115,000 | Gentex Corp. | 3,901,950 | ||||||
20,000 | IMAX Corp.† | 360,400 | ||||||
30,000 | Renesas Electronics Corp.† | 313,496 | ||||||
68,000 | Stoneridge Inc.† | 2,055,640 | ||||||
|
| |||||||
39,510,736 | ||||||||
|
| |||||||
Energy and Utilities — 2.1% | ||||||||
21,000 | Avangrid Inc. | 954,450 | ||||||
25,000 | Callon Petroleum Co.† | 329,000 | ||||||
16,000 | Chesapeake Utilities Corp. | 1,731,360 | ||||||
35,500 | CMS Energy Corp. | 2,165,855 | ||||||
11,000 | Consolidated Water Co. Ltd. | 132,550 |
2
The Gabelli Small Cap Growth Fund
Schedule of Investments (Continued) — December 31, 2020 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) | ||||||||
Energy and Utilities (Continued) | ||||||||
100,000 | Covanta Holding Corp. | $ | 1,313,000 | |||||
46,000 | Diamondback Energy Inc. | 2,226,400 | ||||||
34,500 | Dril-Quip Inc.† | 1,021,890 | ||||||
74,000 | Energy Recovery Inc.† | 1,009,360 | ||||||
24,000 | Landis+Gyr Group AG | 1,881,396 | ||||||
25,000 | Marathon Petroleum Corp. | 1,034,000 | ||||||
31,000 | Middlesex Water Co. | 2,246,570 | ||||||
11,000 | Northwest Natural Holding Co. | 505,890 | ||||||
21,500 | NorthWestern Corp. | 1,253,665 | ||||||
16,000 | Otter Tail Corp. | 681,760 | ||||||
10,000 | PNM Resources Inc. | 485,300 | ||||||
1,850,000 | RPC Inc.† | 5,827,500 | ||||||
20,000 | Siemens Gamesa Renewable Energy SA | 808,488 | ||||||
89,000 | SJW Group | 6,173,040 | ||||||
32,500 | Southwest Gas Holdings Inc. | 1,974,375 | ||||||
9,000 | Spire Inc. | 576,360 | ||||||
34,000 | The York Water Co. | 1,584,400 | ||||||
11,000 | Vestas Wind Systems A/S | 2,599,058 | ||||||
|
| |||||||
38,515,667 | ||||||||
|
| |||||||
Entertainment — 1.4% | ||||||||
50,000 | Discovery Inc., Cl. A† | 1,504,500 | ||||||
70,000 | Discovery Inc., Cl. C† | 1,833,300 | ||||||
76,500 | Inspired Entertainment Inc.† | 503,370 | ||||||
95,000 | Liberty Media Corp.- Liberty Braves, Cl. A† | 2,362,650 | ||||||
200,000 | Liberty Media Corp.- Liberty Braves, Cl. C† | 4,976,000 | ||||||
33,000 | Madison Square Garden Sports Corp.† | 6,075,300 | ||||||
49,000 | Manchester United plc, Cl. A | 820,260 | ||||||
10,000 | Take-Two Interactive Software Inc.† | 2,077,900 | ||||||
4,000 | The Walt Disney Co.† | 724,720 | ||||||
36,000 | Universal Entertainment Corp.† | 829,790 | ||||||
68,000 | World Wrestling Entertainment Inc., Cl. A | 3,267,400 | ||||||
|
| |||||||
24,975,190 | ||||||||
|
| |||||||
Environmental Services — 0.4% | ||||||||
76,000 | Republic Services Inc. | 7,318,800 | ||||||
|
| |||||||
Equipment and Supplies — 15.2% | ||||||||
25,500 | A.O. Smith Corp. | 1,397,910 | ||||||
416,500 | AMETEK Inc. | 50,371,510 | ||||||
52,000 | AZZ Inc. | 2,466,880 | ||||||
16,000 | Chart Industries Inc.† | 1,884,640 | ||||||
150,000 | CIRCOR International Inc.† | 5,766,000 | ||||||
330,000 | Core Molding Technologies Inc.† | 4,646,400 | ||||||
138,500 | Crown Holdings Inc.† | 13,877,700 | ||||||
2,025 | Danaher Corp. | 449,833 | ||||||
105,000 | Donaldson Co. Inc. | 5,867,400 | ||||||
59,000 | Entegris Inc. | 5,669,900 | ||||||
262,000 | Federal Signal Corp. | 8,690,540 | ||||||
241,000 | Flowserve Corp. | 8,880,850 |
Shares | Market Value | |||||||
180,000 | Franklin Electric Co. Inc. | $ | 12,457,800 | |||||
478,000 | Graco Inc. | 34,583,300 | ||||||
42,000 | IDEX Corp. | 8,366,400 | ||||||
168,000 | Interpump Group SpA | 8,279,269 | ||||||
9,000 | Littelfuse Inc. | 2,291,940 | ||||||
55,000 | Maezawa Kyuso Industries Co. Ltd. | 1,233,112 | ||||||
66,000 | Minerals Technologies Inc. | 4,099,920 | ||||||
6,000 | MSA Safety Inc. | 896,340 | ||||||
690,000 | Mueller Industries Inc. | 24,225,900 | ||||||
384,000 | Mueller Water Products Inc., Cl. A | 4,753,920 | ||||||
3,600 | Teleflex Inc. | 1,481,652 | ||||||
173,000 | Tennant Co. | 12,139,410 | ||||||
778,000 | The Gorman-Rupp Co. | 25,246,100 | ||||||
105,000 | The Greenbrier Companies Inc. | 3,819,900 | ||||||
105,000 | The L.S. Starrett Co., Cl. A† | 444,150 | ||||||
30,000 | The Manitowoc Co. Inc.† | 399,300 | ||||||
61,000 | The Middleby Corp.† | 7,864,120 | ||||||
37,000 | The Timken Co. | 2,862,320 | ||||||
30,000 | The Toro Co. | 2,845,200 | ||||||
7,300 | Valmont Industries Inc. | 1,276,989 | ||||||
5,000 | Vicor Corp.† | 461,100 | ||||||
7,875 | Watsco Inc., Cl. B | 1,796,248 | ||||||
57,200 | Watts Water Technologies Inc., Cl. A | 6,961,240 | ||||||
|
| |||||||
278,755,193 | ||||||||
|
| |||||||
Financial Services — 3.8% | ||||||||
5,000 | Alleghany Corp. | 3,018,450 | ||||||
8,240 | Ameris Bancorp | 313,697 | ||||||
25,000 | Argo Group International Holdings Ltd. | 1,092,500 | ||||||
12,000 | Capitol Federal Financial Inc. | 150,000 | ||||||
22,000 | Crazy Woman Creek Bancorp Inc. | 422,400 | ||||||
330,000 | Energy Transfer LP | 2,039,400 | ||||||
130 | Farmers & Merchants Bank of Long Beach | 861,250 | ||||||
331,000 | Flushing Financial Corp. | 5,507,840 | ||||||
66,000 | FNB Corp. | 627,000 | ||||||
220,000 | GAM Holding AG† | 537,761 | ||||||
278,000 | Hope Bancorp Inc. | 3,032,980 | ||||||
410,000 | Huntington Bancshares Inc. | 5,178,300 | ||||||
729,000 | KKR & Co. Inc. | 29,517,210 | ||||||
80,000 | Medallion Financial Corp.† | 392,000 | ||||||
55,000 | Pzena Investment Management Inc., Cl. A | 401,500 | ||||||
45,000 | Sandy Spring Bancorp Inc. | 1,448,550 | ||||||
13,500 | Sculptor Capital Management Inc. | 205,200 | ||||||
800 | South State Corp. | 57,840 | ||||||
9,000 | State Auto Financial Corp. | 159,660 | ||||||
404,000 | Sterling Bancorp | 7,263,920 | ||||||
74,000 | Synovus Financial Corp. | 2,395,380 | ||||||
16,000 | TFS Financial Corp. | 282,080 | ||||||
15,000 | Thomasville Bancshares Inc. | 765,000 | ||||||
230,000 | Valley National Bancorp | 2,242,500 | ||||||
35,500 | Value Line Inc. | 1,170,435 | ||||||
10,000 | Waterloo Investment Holdings Ltd.†(b) | 3,000 |
3
The Gabelli Small Cap Growth Fund
Schedule of Investments (Continued) — December 31, 2020 (Unaudited)
Shares | Market | |||||||
COMMON STOCKS (Continued) | ||||||||
Financial Services (Continued) | ||||||||
133,000 | Wright Investors’ Service Holdings Inc.† | $ | 35,079 | |||||
|
| |||||||
69,120,932 | ||||||||
|
| |||||||
Food and Beverage — 7.4% | ||||||||
425,000 | Arca Continental SAB de CV | 2,032,363 | ||||||
82,200 | Brown-Forman Corp., Cl. A | 6,039,234 | ||||||
42,000 | Bull-Dog Sauce Co. Ltd. | 583,700 | ||||||
900,000 | China Tontine Wines Group Ltd.† | 11,377 | ||||||
200,000 | Chr. Hansen Holding A/S† | 20,563,325 | ||||||
283,000 | Crimson Wine Group Ltd.† | 1,514,050 | ||||||
10,000 | Davide Campari-Milano NV | 114,102 | ||||||
220,000 | Denny’s Corp.† | 3,229,600 | ||||||
500,000 | Dynasty Fine Wines Group Ltd.† | 32,893 | ||||||
70,000 | Farmer Brothers Co.† | 326,900 | ||||||
415,000 | Flowers Foods Inc. | 9,391,450 | ||||||
122,000 | ITO EN Ltd. | 7,715,462 | ||||||
46,000 | Iwatsuka Confectionery Co. Ltd. | 1,946,831 | ||||||
23,000 | J & J Snack Foods Corp. | 3,573,510 | ||||||
115,000 | Kameda Seika Co. Ltd. | 5,396,107 | ||||||
270,000 | Kikkoman Corp. | 18,748,729 | ||||||
700,000 | Maple Leaf Foods Inc. | 15,518,894 | ||||||
6,000 | MEIJI Holdings Co. Ltd. | 421,868 | ||||||
21,000 | MGP Ingredients Inc. | 988,260 | ||||||
66,000 | Morinaga Milk Industry Co. Ltd. | 3,247,107 | ||||||
23,800 | National Beverage Corp. | 2,020,620 | ||||||
45,000 | Nissin Foods Holdings Co. Ltd. | 3,852,598 | ||||||
15,000 | Post Holdings Inc.†. | 1,515,150 | ||||||
124,000 | Rock Field Co. Ltd. | 1,883,027 | ||||||
1,800 | The Boston Beer Co. Inc., Cl. A† | 1,789,722 | ||||||
60,500 | The J.M. Smucker Co. | 6,993,800 | ||||||
625,000 | Tingyi (Cayman Islands) Holding Corp. | 1,067,405 | ||||||
200,001 | Tootsie Roll Industries Inc. | 5,940,030 | ||||||
390,000 | Vina Concha y Toro SA | 677,189 | ||||||
950,000 | Vitasoy International Holdings Ltd. | 3,700,766 | ||||||
20,000 | Willamette Valley Vineyards Inc.† | 127,400 | ||||||
100,000 | Yakult Honsha Co. Ltd. | 5,036,076 | ||||||
|
| |||||||
135,999,545 | ||||||||
|
| |||||||
Health Care — 5.8% | ||||||||
1,700 | Align Technology Inc.† | 908,446 | ||||||
6,700 | Bio-Rad Laboratories Inc., Cl. A† | 3,905,698 | ||||||
14,000 | Bruker Corp. | 757,820 | ||||||
46,500 | Cantel Medical Corp. | 3,666,990 | ||||||
1,000 | Chemed Corp. | 532,610 | ||||||
22,500 | CONMED Corp. | 2,520,000 | ||||||
32,000 | Covetrus Inc.†. | 919,680 | ||||||
421,000 | Cutera Inc.† | 10,150,310 | ||||||
12,500 | DexCom Inc.† | 4,621,500 | ||||||
15,000 | Evolent Health Inc., Cl. A† | 240,450 | ||||||
166,500 | Globus Medical Inc., Cl. A† | 10,859,130 | ||||||
72,000 | Henry Schein Inc.† | 4,813,920 | ||||||
28,500 | ICU Medical Inc.† | 6,112,965 |
Shares | Market | |||||||
38,000 | Masimo Corp.† | $ | 10,198,440 | |||||
82,000 | Meridian Bioscience Inc.† | 1,532,580 | ||||||
24,000 | Neogen Corp.† | 1,903,200 | ||||||
107,400 | NuVasive Inc.† | 6,049,842 | ||||||
216,000 | OPKO Health Inc.†. | 853,200 | ||||||
129,000 | Orthofix Medical Inc.† | 5,544,420 | ||||||
20,000 | Patterson Cos. Inc. | 592,600 | ||||||
82,500 | Quidel Corp.† | 14,821,125 | ||||||
24,000 | Seikagaku Corp. | 236,386 | ||||||
17,200 | STERIS plc | 3,260,088 | ||||||
1,900 | Straumann Holding AG | 2,213,769 | ||||||
3,000 | Stryker Corp. | 735,120 | ||||||
32,000 | SurModics Inc.† | 1,392,640 | ||||||
28,000 | Teladoc Health Inc.† | 5,598,880 | ||||||
100 | The Cooper Companies Inc. | 36,332 | ||||||
38,000 | United-Guardian Inc. | 542,640 | ||||||
|
| |||||||
105,520,781 | ||||||||
|
| |||||||
Home Furnishings — 0.4% | ||||||||
185,000 | Bassett Furniture Industries Inc. | 3,714,800 | ||||||
6,000 | Ethan Allen Interiors Inc. | 121,260 | ||||||
76,500 | La-Z-Boy Inc. | 3,047,760 | ||||||
|
| |||||||
6,883,820 | ||||||||
|
| |||||||
Hotels and Gaming — 4.1% | ||||||||
171,000 | Boyd Gaming Corp. | 7,339,320 | ||||||
191,040 | Canterbury Park Holding Corp. | 2,273,376 | ||||||
127,500 | Churchill Downs Inc. | 24,835,725 | ||||||
120,000 | Formosa International Hotels Corp. | 576,553 | ||||||
554,000 | Full House Resorts Inc.† | 2,177,220 | ||||||
48,508 | Gaming and Leisure Properties Inc. , REIT | 2,056,739 | ||||||
800,000 | Genting Singapore Ltd. | 514,528 | ||||||
168,000 | Golden Entertainment Inc.† | 3,341,520 | ||||||
2,800,000 | Mandarin Oriental International Ltd.† | 4,760,000 | ||||||
3,500 | Penn National Gaming Inc.† | 302,295 | ||||||
314,000 | Ryman Hospitality Properties Inc., REIT | 21,276,640 | ||||||
2,700,000 | The Hongkong & Shanghai Hotels Ltd. | 2,403,111 | ||||||
132,000 | The Marcus Corp. | 1,779,360 | ||||||
14,000 | Wynn Resorts Ltd. | 1,579,620 | ||||||
|
| |||||||
75,216,007 | ||||||||
|
| |||||||
Machinery — 2.6% | ||||||||
343,000 | Astec Industries Inc. | 19,852,840 | ||||||
1,427,000 | CNH Industrial NV† | 18,322,680 | ||||||
95,000 | Kennametal Inc. | 3,442,800 | ||||||
5,300 | Nordson Corp. | 1,065,035 | ||||||
160,000 | The Eastern Co. | 3,856,000 | ||||||
100,000 | Twin Disc Inc.† | 785,000 | ||||||
90,000 | Welbilt Inc.† | 1,188,000 | ||||||
|
| |||||||
48,512,355 | ||||||||
|
| |||||||
Manufactured Housing and Recreational Vehicles — 1.1% |
| |||||||
71,000 | Cavco Industries Inc.† | 12,456,950 | ||||||
70,000 | Nobility Homes Inc. | 1,741,250 | ||||||
85,000 | Skyline Champion Corp.† | 2,629,900 |
4
The Gabelli Small Cap Growth Fund
Schedule of Investments (Continued) — December 31, 2020 (Unaudited)
Shares | Market | |||||||
COMMON STOCKS (Continued) | ||||||||
Manufactured Housing and Recreational Vehicles (Continued) |
| |||||||
54,000 | Winnebago Industries Inc. | $ | 3,236,760 | |||||
|
| |||||||
20,064,860 | ||||||||
|
| |||||||
Metals and Mining — 0.0% | ||||||||
45,000 | Ivanhoe Mines Ltd., Cl. A† | 242,517 | ||||||
95,000 | Kinross Gold Corp. | 697,300 | ||||||
2,000 | Turquoise Hill Resources Ltd.† | 24,840 | ||||||
|
| |||||||
964,657 | ||||||||
|
| |||||||
Publishing — 0.9% | ||||||||
2,200 | Graham Holdings Co., Cl. B | 1,173,436 | ||||||
5,000 | John Wiley & Sons Inc., Cl. B | 230,200 | ||||||
26,000 | Meredith Corp. | 499,200 | ||||||
34,000 | News Corp., Cl. A. | 610,980 | ||||||
895,000 | The E.W. Scripps Co., Cl. A | 13,684,550 | ||||||
|
| |||||||
16,198,366 | ||||||||
|
| |||||||
Real Estate — 2.6% | ||||||||
78,500 | Capital Properties Inc., Cl. A | 969,867 | ||||||
6,967 | Gyrodyne LLC†. | 118,369 | ||||||
255,700 | Indus Realty Trust Inc.† | 15,981,250 | ||||||
18,500 | Lamar Advertising Co., Cl. A, REIT | 1,539,570 | ||||||
90,000 | Morguard Corp. | 8,162,856 | ||||||
3,500 | Reading International Inc., Cl. B† | 79,660 | ||||||
13,500 | Seritage Growth Properties, Cl. A, REIT† | 198,180 | ||||||
134,000 | Tejon Ranch Co.†. | 1,936,300 | ||||||
455,000 | The St. Joe Co. | 19,314,750 | ||||||
96,000 | Trinity Place Holdings Inc.† | 120,000 | ||||||
|
| |||||||
48,420,802 | ||||||||
|
| |||||||
Retail — 4.7% | ||||||||
129,000 | AutoNation Inc.† | 9,002,910 | ||||||
33,000 | Big 5 Sporting Goods Corp | 336,930 | ||||||
975 | Biglari Holdings Inc., Cl. A† | 570,375 | ||||||
93,200 | Copart Inc.† | 11,859,700 | ||||||
500 | Hertz Global Holdings Inc.† | 640 | ||||||
546,500 | Ingles Markets Inc., Cl. A | 23,313,690 | ||||||
54,000 | Lands’ End Inc.† | 1,164,780 | ||||||
82,000 | Movado Group Inc. | 1,362,840 | ||||||
155,500 | Nathan’s Famous Inc. | 8,586,710 | ||||||
72,000 | Penske Automotive Group Inc. | 4,276,080 | ||||||
93,000 | Pets at Home Group plc | 529,313 | ||||||
355,000 | Rush Enterprises Inc., Cl. B | 13,450,950 | ||||||
10,000 | Salvatore Ferragamo SpA†. | 193,754 | ||||||
90,000 | The Cheesecake Factory Inc. | 3,335,400 | ||||||
47,000 | Tractor Supply Co. | 6,607,260 | ||||||
43,000 | Village Super Market Inc., Cl. A | 948,580 | ||||||
21,000 | Weis Markets Inc. | 1,004,010 | ||||||
600 | Winmark Corp. | 111,480 | ||||||
|
| |||||||
86,655,402 | ||||||||
|
| |||||||
Specialty Chemicals — 3.4% | ||||||||
4,500 | Albemarle Corp. | 663,840 | ||||||
28,000 | Ashland Global Holdings Inc. | 2,217,600 |
Shares | Market | |||||||
1,744,000 | Ferro Corp.† | $ | 25,514,720 | |||||
120,000 | GCP Applied Technologies Inc.† | 2,838,000 | ||||||
281,000 | H.B. Fuller Co. | 14,578,280 | ||||||
17,000 | Hawkins Inc. | 889,270 | ||||||
72,000 | Huntsman Corp. | 1,810,080 | ||||||
6,400 | NewMarket Corp. | 2,549,056 | ||||||
9,500 | Quaker Chemical Corp. | 2,407,205 | ||||||
60,000 | Sensient Technologies Corp. | 4,426,200 | ||||||
2,500 | Takasago International Corp. | 57,479 | ||||||
91,200 | The General Chemical Group Inc.† | 456 | ||||||
150,000 | Valvoline Inc. | 3,471,000 | ||||||
|
| |||||||
61,423,186 | ||||||||
|
| |||||||
Telecommunications — 1.0% | ||||||||
74,000 | Consolidated Communications Holdings Inc.† | 361,860 | ||||||
70,000 | Gogo Inc.† | 674,100 | ||||||
162,000 | HC2 Holdings Inc.† | 528,120 | ||||||
6,000 | IDT Corp., Cl. B† | 74,160 | ||||||
96,000 | Iridium Communications Inc.† | 3,775,200 | ||||||
51,000 | Loral Space & Communications Inc. | 1,070,490 | ||||||
118,900 | Nuvera Communications Inc. | 2,294,770 | ||||||
84,000 | Rogers Communications Inc., Cl. B | 3,913,560 | ||||||
89,000 | Shenandoah Telecommunications Co. | 3,849,250 | ||||||
710,000 | VEON Ltd., ADR | 1,072,100 | ||||||
5,000 | Verizon Communications Inc. | 293,750 | ||||||
|
| |||||||
17,907,360 | ||||||||
|
| |||||||
Transportation — 2.0% | ||||||||
437,000 | GATX Corp. | 36,349,660 | ||||||
18,600 | Irish Continental Group plc† | 102,252 | ||||||
80,000 | Navigator Holdings Ltd.† | 876,000 | ||||||
|
| |||||||
37,327,912 | ||||||||
|
| |||||||
Wireless Communications — 0.1% | ||||||||
51,000 | United States Cellular Corp.† | 1,565,190 | ||||||
|
| |||||||
TOTAL COMMON STOCKS | 1,812,058,960 | |||||||
|
| |||||||
CLOSED-END FUNDS — 0.2% | ||||||||
55,000 | The Central Europe, Russia, and Turkey Fund Inc. | 1,323,850 | ||||||
32,729 | The European Equity Fund Inc. | 340,382 | ||||||
119,537 | The New Germany Fund Inc. | 2,274,789 | ||||||
|
| |||||||
TOTAL CLOSED-END FUNDS | 3,939,021 | |||||||
|
| |||||||
PREFERRED STOCKS — 0.3% | ||||||||
Automotive: Parts and Accessories — 0.3% | ||||||||
106,000 | Jungheinrich AG | 4,739,513 | ||||||
|
| |||||||
RIGHTS — 0.0% | ||||||||
Entertainment — 0.0% | ||||||||
1,680,000 | Media General Inc., CVR†(b) | 2 | ||||||
|
|
5
The Gabelli Small Cap Growth Fund
Schedule of Investments (Continued) — December 31, 2020 (Unaudited)
Shares | Market | |||||||
WARRANTS — 0.0% | ||||||||
Business Services — 0.0% | ||||||||
1 | Internap Corp., expire 05/08/24† | $ | 652 | |||||
|
| |||||||
Diversified Industrial — 0.0% | ||||||||
140,000 | Ampco-Pittsburgh Corp., expire 08/01/25† | 123,199 | ||||||
|
| |||||||
TOTAL WARRANTS | 123,851 | |||||||
|
| |||||||
TOTAL MISCELLANEOUS INVESTMENTS — 0.5%(c) | 9,601,784 | |||||||
|
| |||||||
TOTAL INVESTMENTS — 100.0% (Cost $584,966,761) | $ | 1,830,463,131 | ||||||
|
|
(a) | Security considered an affiliated holding because the Fund owns at least 5% of its outstanding shares. |
(b) | Security is valued under procedures adopted by the Board of Trustees and is classified as Level 3 in the fair value hierarchy. |
(c) | Represents previously undisclosed, unrestricted securities which the Fund has held for less than one year. |
† | Non-income producing security. |
ADR | American Depositary Receipt |
CVR | Contingent Value Right |
REIT | Real Estate Investment Trust |
6