1
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
99.8%
Aerospace
—
0.5%
2,000
Lockheed
Martin
Corp.
.............................
$
859,920
8,200
Rockwell
Automation
Inc.
.........................
1,634,342
2,494,262
Agriculture
—
0.9%
50,000
Archer-Daniels-Midland
Co.
......................
3,880,000
11,000
The
Mosaic
Co.
........................................
519,530
4,399,530
Automotive
—
0.2%
10,000
PACCAR
Inc.
............................................
823,400
Automotive:
Parts
and
Accessories
—
5.0%
76,000
Dana
Inc.
.................................................
1,069,320
183,200
Genuine
Parts
Co.
.....................................
24,365,600
25,434,920
Broadcasting
—
0.2%
45,000
Liberty
Global
plc,
Cl. A†
..........................
947,250
9,000
Liberty
Global
plc,
Cl. C†
..........................
198,810
1,146,060
Building
and
Construction
—
1.5%
30,000
Carrier
Global
Corp.
..................................
1,069,800
40,500
Fortune
Brands
Home
&
Security
Inc.
.......
2,425,140
22,700
Herc
Holdings
Inc.
....................................
2,046,405
47,500
Johnson
Controls
International
plc
............
2,274,300
7,815,645
Business
Services
—
3.6%
11,000
Automatic
Data
Processing
Inc.
................
2,310,440
26,500
Mastercard
Inc.,
Cl. A
...............................
8,360,220
2,400
MSC
Industrial
Direct
Co.
Inc.,
Cl. A
..........
180,264
32,000
Pentair
plc
................................................
1,464,640
18,500
S&P
Global
Inc.
........................................
6,235,610
18,551,174
Cable
and
Satellite
—
0.6%
129,000
DISH
Network
Corp.,
Cl. A†
......................
2,312,970
16,000
EchoStar
Corp.,
Cl. A†
..............................
308,800
12,000
Liberty
Media
Corp.
-
Liberty
Braves,
Cl. A†
...................................................
301,800
2,923,570
Communications
Equipment
—
0.3%
42,000
Corning
Inc.
.............................................
1,323,420
Computer
Hardware
—
1.8%
39,000
Apple
Inc.
................................................
5,332,080
25,700
International
Business
Machines
Corp.
......
3,628,583
8,960,663
Computer
Software
and
Services
—
2.1%
90,000
Hewlett
Packard
Enterprise
Co.
.................
1,193,400
37,500
Microsoft
Corp.
........................................
9,631,125
10,824,525
Shares
Market
Value
Consumer
Products
—
8.1%
6,000
Edgewell
Personal
Care
Co.
......................
$
207,120
50,000
Energizer
Holdings
Inc.
.............................
1,417,500
30,000
Essity
AB,
Cl. A
.........................................
781,544
1,000
National
Presto
Industries
Inc.
..................
65,640
34,000
Reckitt
Benckiser
Group
plc
......................
2,553,652
3,400,000
Swedish
Match
AB
...................................
34,632,322
41,000
Unilever
plc,
ADR
.....................................
1,879,030
41,536,808
Consumer
Services
—
0.1%
1,600
Allegion
plc
..............................................
156,640
15,000
Rollins
Inc.
...............................................
523,800
680,440
Diversified
Industrial
—
5.2%
78,000
Crane
Holdings
Co.
...................................
6,829,680
34,000
Eaton
Corp.
plc
.........................................
4,283,660
1,500
Honeywell
International
Inc.
......................
260,715
8,824
Ingersoll
Rand
Inc.
...................................
371,314
48,000
ITT
Inc.
....................................................
3,227,520
36,500
Jardine
Matheson
Holdings
Ltd.
................
1,918,440
22,000
nVent
Electric
plc
......................................
689,260
108,000
Textron
Inc.
..............................................
6,595,560
154,000
Toray
Industries
Inc.
.................................
863,980
8,000
Trane
Technologies
plc
.............................
1,038,960
22,000
Trinity
Industries
Inc.
................................
532,840
26,611,929
Electronics
—
2.0%
6,500
Sony
Group
Corp.
.....................................
531,526
30,000
Sony
Group
Corp.,
ADR
............................
2,453,100
48,500
TE
Connectivity
Ltd.
..................................
5,487,775
10,000
Texas
Instruments
Inc.
.............................
1,536,500
10,008,901
Energy
and
Utilities:
Electric
—
0.4%
7,500
Avangrid
Inc.
............................................
345,900
20,000
Korea
Electric
Power
Corp.,
ADR†
.............
175,600
8,000
Portland
General
Electric
Co.
.....................
386,640
63,000
The
AES
Corp.
..........................................
1,323,630
2,231,770
Energy
and
Utilities:
Integrated
—
0.6%
50,000
Energy
Transfer
LP
...................................
499,000
21,000
Eni
SpA
....................................................
249,295
6,500
Iberdrola
SA,
ADR
....................................
268,905
57,000
OGE
Energy
Corp.
.....................................
2,197,920
3,215,120
Energy
and
Utilities:
Natural
Gas
—
2.3%
105,500
National
Fuel
Gas
Co.
................................
6,968,275
11,500
ONE
Gas
Inc.
............................................
933,685
59,000
ONEOK
Inc.
..............................................
3,274,500
2
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Energy
and
Utilities:
Natural
Gas
(Continued)
7,500
Southwest
Gas
Holdings
Inc.
....................
$
653,100
11,829,560
Energy
and
Utilities:
Oil
—
3.2%
2,000
Callon
Petroleum
Co.†
..............................
78,400
43,400
Chevron
Corp.
..........................................
6,283,452
4,500
ConocoPhillips
.........................................
404,145
7,200
Devon
Energy
Corp.
..................................
396,792
12,000
Exxon
Mobil
Corp.
....................................
1,027,680
57,400
Hess
Corp.
...............................................
6,080,956
18,000
Marathon
Petroleum
Corp.
........................
1,479,780
13,500
TotalEnergies
SE,
ADR
..............................
710,640
16,461,845
Energy
and
Utilities:
Services
—
0.6%
4,000
Dril-Quip
Inc.†
..........................................
103,200
84,000
Halliburton
Co.
.........................................
2,634,240
10,000
Schlumberger
NV
.....................................
357,600
3,095,040
Energy
and
Utilities:
Water
—
0.2%
4,200
Essential
Utilities
Inc.
...............................
192,570
20,000
Severn
Trent
plc
.......................................
661,968
854,538
Entertainment
—
1.7%
40,000
Grupo
Televisa
SAB,
ADR
.........................
327,200
6,000
Madison
Square
Garden
Entertainment
Corp.†
..................................................
315,720
2,500
Madison
Square
Garden
Sports
Corp.†
.....
377,500
287,000
Paramount
Global,
Cl. A
............................
7,823,620
8,844,040
Environmental
Services
—
0.2%
7,500
Republic
Services
Inc.
..............................
981,525
Equipment
and
Supplies
—
4.7%
6,500
A.O.
Smith
Corp.
......................................
355,420
14,000
Danaher
Corp.
..........................................
3,549,280
158,000
Flowserve
Corp.
.......................................
4,523,540
50,000
Graco
Inc.
................................................
2,970,500
18,500
Minerals
Technologies
Inc.
.......................
1,134,790
144,400
Mueller
Industries
Inc.
..............................
7,695,076
15,000
Parker-Hannifin
Corp.
...............................
3,690,750
23,919,356
Financial
Services
—
13.0%
2,200
Alleghany
Corp.†
......................................
1,832,820
19,000
AllianceBernstein
Holding
LP
....................
790,020
19,000
American
Express
Co.
...............................
2,633,780
20,000
Ameris
Bancorp
.......................................
803,600
4,500
Argo
Group
International
Holdings
Ltd.
.....
165,870
5,195
Banco
Santander
Chile,
ADR
.....................
84,627
125,000
Bank
of
America
Corp.
..............................
3,891,250
Shares
Market
Value
12,000
BNP
Paribas
SA
........................................
$
570,483
40,500
Interactive
Brokers
Group
Inc.,
Cl. A
.........
2,227,905
15,000
Jefferies
Financial
Group
Inc.
....................
414,300
8,500
JPMorgan
Chase
&
Co.
.............................
957,185
51,000
Julius
Baer
Group
Ltd.
..............................
2,352,737
21,000
Kinnevik
AB,
Cl. A†
...................................
346,929
63,500
Loews
Corp.
.............................................
3,763,010
11,200
M&T
Bank
Corp.
.......................................
1,785,168
16,200
Marsh
&
McLennan
Companies
Inc.
..........
2,515,050
10,000
Morgan
Stanley
........................................
760,600
5,800
Popular
Inc.
.............................................
446,194
64,000
SLM
Corp.
...............................................
1,020,160
122,000
State
Street
Corp.
.....................................
7,521,300
6,000
T.
Rowe
Price
Group
Inc.
..........................
681,660
297,000
The
Bank
of
New
York
Mellon
Corp.
..........
12,387,870
15,000
The
Goldman
Sachs
Group
Inc.
.................
4,455,300
24,300
The
PNC
Financial
Services
Group
Inc.
......
3,833,811
53,000
Valley
National
Bancorp
............................
551,730
118,000
Webster
Financial
Corp.
............................
4,973,700
113,000
Wells
Fargo
&
Co.
....................................
4,426,210
66,193,269
Food
and
Beverage
—
17.4%
1,000
Anheuser-Busch
InBev
SA/NV
...................
53,823
203,500
Brown-Forman
Corp.,
Cl. A
.......................
13,764,740
34,000
Campbell
Soup
Co.
...................................
1,633,700
19,000
Coca-Cola
Europacific
Partners
plc
............
980,590
10,000
Coca-Cola
Femsa
SAB
de
CV,
ADR
............
552,800
5,800
Constellation
Brands
Inc.,
Cl. A
.................
1,351,748
35,000
Danone
SA
...............................................
1,953,484
35,000
Davide
Campari-Milano
NV
.......................
368,066
49,500
Diageo
plc,
ADR
.......................................
8,618,940
81,500
Fomento
Economico
Mexicano
SAB
de
CV,
ADR
.....................................................
5,500,435
1,000
General
Mills
Inc.
.....................................
75,450
1,725,000
Grupo
Bimbo
SAB
de
CV,
Cl. A
..................
5,636,627
93,000
Heineken
NV
............................................
8,478,963
132,000
ITO
EN
Ltd.
..............................................
5,915,094
17,500
Kellogg
Co.
..............................................
1,248,450
4,000
McCormick
&
Co.
Inc.
..............................
332,120
31,200
McCormick
&
Co.
Inc.,
Non-Voting
...........
2,597,400
34,000
Mondelēz
International
Inc.,
Cl. A
..............
2,111,060
31,800
Nestlé
SA
.................................................
3,712,137
54,000
Nissin
Foods
Holdings
Co.
Ltd.
.................
3,729,216
31,300
PepsiCo
Inc.
.............................................
5,216,458
23,800
Pernod
Ricard
SA
.....................................
4,372,194
31,200
Remy
Cointreau
SA
..................................
5,450,430
30,000
Sapporo
Holdings
Ltd.
..............................
665,537
10,000
The
Coca-Cola
Co.
....................................
629,100
1,000
The
Hershey
Co.
.......................................
215,160
50,000
The
Kraft
Heinz
Co.
...................................
1,907,000
3
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
32,000
Yakult
Honsha
Co.
Ltd.
.............................
$
1,846,698
88,917,420
Health
Care
—
5.0%
4,000
Abbott
Laboratories
..................................
434,600
3,000
AbbVie
Inc.
..............................................
459,480
3,500
Alcon
Inc.
................................................
244,615
75,000
Baxter
International
Inc.
............................
4,817,250
4,400
Bio-Rad
Laboratories
Inc.,
Cl. A†
..............
2,178,000
88,000
Bristol-Myers
Squibb
Co.
..........................
6,776,000
69,500
Demant
A/S†
............................................
2,607,639
8,000
GSK
plc,
ADR
...........................................
348,240
29,700
Henry
Schein
Inc.†
...................................
2,279,178
16,000
Merck
&
Co.
Inc.
......................................
1,458,720
12,000
Novartis
AG,
ADR
.....................................
1,014,360
1,600
Organon
&
Co.
.........................................
54,000
20,000
Pfizer
Inc.
................................................
1,048,600
42,500
Roche
Holding
AG,
ADR
...........................
1,772,675
2,000
Zimmer
Biomet
Holdings
Inc.
...................
210,120
170
Zimvie
Inc.†
.............................................
2,722
25,706,199
Hotels
and
Gaming
—
0.1%
12,000
MGM
Resorts
International
.......................
347,400
1,500
Wynn
Resorts
Ltd.†
..................................
85,470
432,870
Machinery
—
3.3%
6,000
Caterpillar
Inc.
..........................................
1,072,560
48,500
Deere
&
Co.
.............................................
14,524,295
9,500
Otis
Worldwide
Corp.
...............................
671,365
8,700
Xylem
Inc.
................................................
680,166
16,948,386
Metals
and
Mining
—
2.1%
78,000
Freeport-McMoRan
Inc.
............................
2,282,280
136,500
Newmont
Corp.
........................................
8,144,955
10,427,235
Paper
and
Forest
Products
—
0.1%
21,500
Svenska
Cellulosa
AB
SCA,
Cl. A
...............
319,881
Publishing
—
0.0%
3,000
Value
Line
Inc.
.........................................
198,150
Real
Estate
Investment
Trusts
—
0.5%
8,000
Indus
Realty
Trust
Inc.
..............................
474,880
65,000
Weyerhaeuser
Co.
....................................
2,152,800
2,627,680
Retail
—
5.1%
14,000
Cie
Financiere
Richemont
SA,
Cl. A
...........
1,490,703
23,000
Copart
Inc.†
.............................................
2,499,180
7,200
Costco
Wholesale
Corp.
............................
3,450,816
89,000
CVS
Health
Corp.
......................................
8,246,740
Shares
Market
Value
53,000
Ingles
Markets
Inc.,
Cl. A
..........................
$
4,597,750
68,000
Seven
&
i
Holdings
Co.
Ltd.
......................
2,639,711
3,300
The
Home
Depot
Inc.
................................
905,091
59,000
Walgreens
Boots
Alliance
Inc.
...................
2,236,100
1,000
Walmart
Inc.
............................................
121,580
26,187,671
Specialty
Chemicals
—
1.0%
2,700
Albemarle
Corp.
.......................................
564,246
2,500
Ashland
Global
Holdings
Inc.
....................
257,625
7,200
FMC
Corp.
................................................
770,472
44,000
H.B.
Fuller
Co.
..........................................
2,649,240
2,000
NewMarket
Corp.
.....................................
601,920
600
Quaker
Chemical
Corp.
.............................
89,712
4,933,215
Telecommunications
—
4.3%
105,000
BCE
Inc.
...................................................
5,163,900
190,000
Deutsche
Telekom
AG,
ADR
......................
3,784,800
12,000
Orange
SA,
ADR
.......................................
141,240
3,000
Proximus
SA
............................................
44,218
65,000
Telefonica
SA,
ADR
...................................
333,450
122,000
Telephone
and
Data
Systems
Inc.
..............
1,926,380
94,000
TELUS
Corp.
............................................
2,094,320
170,000
Verizon
Communications
Inc.
...................
8,627,500
22,115,808
Transportation
—
1.8%
99,200
GATX
Corp.
..............................................
9,340,672
Wireless
Communications
—
0.1%
76,000
BT
Group
plc,
Cl. A
...................................
172,355
17,000
Telesat
Corp.†
..........................................
189,890
205
Telesat
Corp.,
New
York†
..........................
2,290
20,000
Turkcell
Iletisim
Hizmetleri
A/S,
ADR
.........
50,000
414,535
TOTAL
COMMON
STOCKS
..................
509,731,032
WARRANTS
—
0.0%
Retail
—
0.0%
28,000
Cie
Financiere
Richemont
SA,
expire
11/22/23†
.............................................
15,252
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
0.2%
$
1,025,000
U.S.
Treasury
Bills,
1.515%
to
1.683%††,
09/15/22
to
09/29/22
............................
1,021,398
TOTAL
INVESTMENTS
—
100.0%
(Cost
$189,229,742)
.............................
$
510,767,682
4
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt