1
The
Gabelli
Focused
Growth
and
Income
Fund
Schedule
of
Investments
—
June
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
86
.9
%
Aerospace
and
Defense
—
1
.5
%
12,500
Aerojet
Rocketdyne
Holdings
Inc.
...............
$
603,625
Automotive
—
1
.0
%
20,000
Stellantis
NV
.............................................
394,200
Automotive:
Parts
and
Accessories
—
3
.1
%
8,000
Aptiv
plc
†
..................................................
1,258,640
Building
and
Construction
—
3
.1
%
11,000
Herc
Holdings
Inc.
†
...................................
1,232,770
Cable
and
Satellite
—
1
.7
%
16,000
Liberty
Media
Corp.-Liberty
Formula
One
,
Cl.
A
†
....................................................
682,080
Computer
Software
and
Services
—
2
.8
%
450
Alphabet
Inc.
,
Cl.
C
†
..................................
1,127,844
Consumer
Products
—
1
.8
%
15,000
Terminix
Global
Holdings
Inc.
†
..................
715,650
Diversified
Industrial
—
0
.9
%
775
Roper
Technologies
Inc.
............................
364,405
Energy
and
Utilities
—
19
.7
%
15,000
Atlantica
Sustainable
Infrastructure
plc
......
558,300
80,000
Energy
Transfer
LP
....................................
850,400
80,000
Enterprise
Products
Partners
LP
................
1,930,400
105,000
Kinder
Morgan
Inc.
....................................
1,914,150
35,000
NextEra
Energy
Partners
LP
.......................
2,672,600
7,925,850
Entertainment
—
3
.2
%
198,699
Sirius
XM
Holdings
Inc.
.............................
1,299,492
Financial
Services
—
13
.1
%
42,500
Apollo
Global
Management
Inc.
.................
2,643,500
12,500
Morgan
Stanley
.........................................
1,146,125
90,000
New
York
Community
Bancorp
Inc.
............
991,800
1,650
PayPal
Holdings
Inc.
†
................................
480,942
5,262,367
Food
and
Beverage
—
9
.5
%
75,000
Maple
Leaf
Foods
Inc.
...............................
1,556,752
16,500
Mondelēz
International
Inc.
,
Cl.
A
...............
1,030,260
11,500
Post
Holdings
Inc.
†
...................................
1,247,405
3,834,417
Health
Care
—
6
.4
%
11,000
AbbVie
Inc.
...............................................
1,239,040
60,000
Option
Care
Health
Inc.
†
............................
1,312,200
2,551,240
Real
Estate
Investment
Trusts
—
15
.4
%
43,000
Blackstone
Mortgage
Trust
Inc.
,
Cl.
A
.........
1,371,270
8,000
Hannon
Armstrong
Sustainable
Infrastructure
Capital
Inc.
.......................
449,200
30,000
Healthpeak
Properties
Inc.
.........................
998,700
Shares
Market
Value
91,750
MGM
Growth
Properties
LLC
,
Cl.
A
............
$
3,359,885
6,179,055
Telecommunications
—
3
.7
%
55,000
Lumen
Technologies
Inc.
...........................
747,450
5,000
T-Mobile
US
Inc.
†
......................................
724,150
1,471,600
TOTAL
COMMON
STOCKS
.........................
34,903,235
PREFERRED
STOCKS
—
11
.7
%
Diversified
Industrial
—
3
.3
%
17,704
Babcock
&
Wilcox
Enterprises
Inc.
,
8.125
%
.................................................
458,533
37,500
Steel
Partners
Holdings
LP
,
Ser.
A
,
6.000
%
877,125
1,335,658
Energy
and
Utilities
—
4
.1
%
65,000
Energy
Transfer
LP
,
Ser.
D
,
7.625
%
............
1,652,300
Retail
—
4
.3
%
16,000
Qurate
Retail
Inc.
,
8.000
%
.........................
1,732,000
TOTAL
PREFERRED
STOCKS
.....................
4,719,958
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
1
.4
%
$
406,000
U.S.
Cash
Management
Bill,
0.041
%
††
,
09/28/21
..............................
405,961
150,000
U.S.
Treasury
Bill,
0.017
%
††
,
11/18/21
..............................
149,974
TOTAL
U.S.
GOVERNMENT
OBLIGATIONS
.
555,935
TOTAL
INVESTMENTS
—
100.0%
(Cost
$
25,250,198
)
................................
$
40,179,128
†
Non-income
producing
security.
††
Represents
annualized
yield
at
date
of
purchase.