1
The
Gabelli
Financial
Services
Fund
Schedule
of
Investments
—
June
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
94
.6
%
Automobiles
—
5
.3
%
7,000
Daimler
AG
...............................................
$
625,009
3,650
Toyota
Motor
Corp.
,
ADR
...........................
638,166
1,263,175
Banks
—
22
.2
%
68,000
Banco
Bilbao
Vizcaya
Argentaria
SA
...........
421,539
19,950
CIT
Group
Inc.
...........................................
1,029,220
84,000
Commerzbank
AG
†
....................................
595,825
259,100
Dah
Sing
Banking
Group
Ltd.
.....................
285,987
201,200
Dah
Sing
Financial
Holdings
Ltd.
................
688,003
27,200
ING
Groep
NV
...........................................
359,292
40,300
Japan
Post
Bank
Co.
Ltd.
...........................
338,448
19,700
Shinhan
Financial
Group
Co.
Ltd.
,
ADR
†
.....
706,245
29,900
Shinsei
Bank
Ltd.
......................................
392,136
8,200
Webster
Financial
Corp.
.............................
437,388
5,254,083
Consumer
Finance
—
6
.8
%
17,900
Ally
Financial
Inc.
......................................
892,136
4,700
Capital
One
Financial
Corp.
........................
727,043
1,619,179
Diversified
Banks
—
15
.3
%
237,500
Barclays
plc
...............................................
562,187
12,650
Citigroup
Inc.
............................................
894,987
44,820
Credit
Agricole
SA
.....................................
627,859
223,000
Natwest
Group
plc
.....................................
626,823
10,410
Societe
Generale
SA
..................................
306,863
95,100
Standard
Chartered
plc
..............................
606,454
3,625,173
Homebuilders
—
4
.8
%
3,010
Cavco
Industries
Inc.
†
...............................
668,792
27,409
Legacy
Housing
Corp.
†
.............................
463,486
1,132,278
Institutional
Brokerage
—
9
.0
%
37,700
Credit
Suisse
Group
AG
,
ADR
....................
395,473
106,400
Daiwa
Securities
Group
Inc.
.......................
584,316
33,810
Jefferies
Financial
Group
Inc.
.....................
1,156,302
2,136,091
Institutional
Trust,
Fiduciary,
and
Custody
—
7
.4
%
8,450
State
Street
Corp.
......................................
695,266
20,850
The
Bank
of
New
York
Mellon
Corp.
...........
1,068,146
1,763,412
Insurance
—
8
.2
%
148,117
Aegon
NV
..................................................
614,529
607
E-L
Financial
Corp.
Ltd.
.............................
465,129
18,329
NN
Group
NV
............................................
864,563
1,944,221
Investment
Management
—
13
.8
%
30,750
Franklin
Resources
Inc.
.............................
983,693
26,900
Janus
Henderson
Group
plc
.......................
1,043,989
57,149
Westwood
Holdings
Group
Inc.
..................
1,243,562
3,271,244
Shares
Market
Value
Real
Estate
—
0
.2
%
52,037
HG
Holdings
Inc.
†
.....................................
$
41,109
Reinsurance
—
1
.6
%
7,500
Axis
Capital
Holdings
Ltd.
..........................
367,575
TOTAL
COMMON
STOCKS
.........................
22,417,540
Principal
Amount
CONVERTIBLE
CORPORATE
BONDS
—
0
.1
%
Institutional
Brokerage
—
0
.1
%
$
13,000
Credit
Suisse
Group
Guernsey
VII
Ltd.
,
3.000
%
,
11/12/21
..................................
15,822
U.S.
GOVERNMENT
OBLIGATIONS
—
5
.3
%
1,268,000
U.S.
Treasury
Bills,
0.002
%
to
0.032
%
††
,
07/29/21
to
11/18/21
.............................
1,267,926
TOTAL
INVESTMENTS
—
100.0%
(Cost
$
18,809,341
)
................................
$
23,701,288
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt