1
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
98.4%
Aerospace
—
0.7%
250,000
Aerojet
Rocketdyne
Holdings
Inc.†
............
$
10,150,000
30,500
Allied
Motion
Technologies
Inc.
.................
696,620
40,000
Innovative
Solutions
and
Support
Inc.†
.....
288,000
7,000
Kratos
Defense
&
Security
Solutions
Inc.†
97,160
11,231,780
Agriculture
—
0.1%
10,000
Cadiz
Inc.†
...............................................
23,300
50,000
Limoneira
Co.
...........................................
704,500
727,800
Automotive
—
0.1%
1,200
PACCAR
Inc.
............................................
98,808
69,000
The
Shyft
Group
Inc.
................................
1,282,710
1,381,518
Automotive:
Parts
and
Accessories
—
4.0%
148,000
BorgWarner
Inc.
.......................................
4,938,760
846,000
Brembo
SpA
.............................................
8,218,464
94,022
China
Automotive
Systems
Inc.†
...............
253,859
75,000
Commercial
Vehicle
Group
Inc.†
...............
438,000
1,110,000
Dana
Inc.
.................................................
15,617,700
410,000
Modine
Manufacturing
Co.†
......................
4,317,300
34,000
Monro
Inc.
...............................................
1,457,920
4,300
O'Reilly
Automotive
Inc.†
.........................
2,716,568
45,000
Puradyn
Filter
Technologies
Inc.†
..............
5
180,000
Standard
Motor
Products
Inc.
...................
8,098,200
245,660
Strattec
Security
Corp.†(a)
.......................
8,143,629
270,000
Tenneco
Inc.,
Cl. A†
..................................
4,633,200
18,700
Thor
Industries
Inc.
..................................
1,397,451
19,000
Uni-Select
Inc.†
........................................
422,157
60,653,213
Aviation:
Parts
and
Services
—
2.3%
20,000
AAR
Corp.†
..............................................
836,800
9,500
Astronics
Corp.†
......................................
96,615
23,200
Astronics
Corp.,
Cl. B†
.............................
222,952
47,000
Ducommun
Inc.†
.....................................
2,022,880
670,000
Kaman
Corp.
............................................
20,937,500
89,000
Moog
Inc.,
Cl. A
.......................................
7,065,710
18,000
Moog
Inc.,
Cl. B
.......................................
1,575,720
21,500
Woodward
Inc.
.........................................
1,988,535
34,746,712
Broadcasting
—
2.1%
119,000
Beasley
Broadcast
Group
Inc.,
Cl. A†
........
152,320
10,000
Cogeco
Communications
Inc.
...................
676,429
23,600
Cogeco
Inc.
..............................................
1,251,321
196,500
Corus
Entertainment
Inc.,
Cl. B
.................
538,879
39,500
Fox
Corp.,
Cl. A
........................................
1,270,320
25,000
Gray
Television
Inc.
..................................
422,250
72,350
Gray
Television
Inc.,
Cl. A
.........................
1,145,633
260,000
ITV
plc
.....................................................
206,546
Shares
Market
Value
13,000
Liberty
Broadband
Corp.,
Cl. A†
................
$
1,476,150
11,000
Liberty
Broadband
Corp.,
Cl. C†
................
1,272,040
20,000
Liberty
Media
Corp.-
Liberty
Formula
One,
Cl. A†
...................................................
1,159,400
27,000
Liberty
Media
Corp.-
Liberty
Formula
One,
Cl. C†
...................................................
1,713,690
64,000
Liberty
Media
Corp.-
Liberty
SiriusXM,
Cl. A†
...................................................
2,306,560
34,452
Liberty
Media
Corp.-
Liberty
SiriusXM,
Cl. C†
...................................................
1,241,995
92,340
Madison
Square
Garden
Entertainment
Corp.†
..................................................
4,858,931
22,900
Nexstar
Media
Group
Inc.,
Cl. A
................
3,729,952
100,000
Salem
Media
Group
Inc.†
.........................
212,000
260,000
Sinclair
Broadcast
Group
Inc.,
Cl. A
...........
5,304,000
480,000
Sirius
XM
Holdings
Inc.
............................
2,942,400
31,880,816
Building
and
Construction
—
5.4%
79,000
Arcosa
Inc.
...............................................
3,667,970
42,000
Armstrong
Flooring
Inc.†
..........................
11,697
83,400
D.R.
Horton
Inc.
.......................................
5,520,246
30,000
Gibraltar
Industries
Inc.†
..........................
1,162,500
238,400
Herc
Holdings
Inc.
....................................
21,491,760
120,500
KB
Home
.................................................
3,429,430
3,000
Legacy
Housing
Corp.†
............................
39,150
377,000
Lennar
Corp.,
Cl. B
...................................
22,133,670
95,500
MDC
Holdings
Inc.
...................................
3,085,605
14,000
Meritage
Homes
Corp.†
............................
1,015,000
2,050
NVR
Inc.†
................................................
8,208,487
122,000
PulteGroup
Inc.
........................................
4,834,860
64,000
Titan
Machinery
Inc.†
...............................
1,434,240
140,000
Toll
Brothers
Inc.
......................................
6,244,000
82,278,615
Business
Services
—
2.4%
13,000
ACCO
Brands
Corp.
..................................
84,890
570,000
Clear
Channel
Outdoor
Holdings
Inc.†
.......
609,900
355,000
Diebold
Nixdorf
Inc.†
................................
805,850
60,000
Element
Solutions
Inc.
..............................
1,068,000
13,000
GSE
Systems
Inc.†
...................................
16,250
196,000
IAA
Inc.†
..................................................
6,422,920
36,500
Live
Nation
Entertainment
Inc.†
................
3,014,170
40,000
Loomis
AB
...............................................
972,849
162,000
Macquarie
Infrastructure
Holdings
LLC
.....
633,420
16,000
McGrath
RentCorp
...................................
1,216,000
20,000
Sealed
Air
Corp.
.......................................
1,154,400
69,000
Sohgo
Security
Services
Co.
Ltd.
..............
1,917,232
50,000
Team
Inc.†
...............................................
37,165
338,000
The
Interpublic
Group
of
Companies
Inc.
..
9,305,140
25,000
TransAct
Technologies
Inc.†
.....................
101,000
1,612,400
Trans-Lux
Corp.†(a)
.................................
577,400
2
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Business
Services
(Continued)
34,000
United
Rentals
Inc.†
.................................
$
8,258,940
36,195,526
Cable
—
0.7%
52,500
AMC
Networks
Inc.,
Cl. A†
........................
1,528,800
39,000
DISH
Network
Corp.,
Cl. A†
......................
699,270
30,000
EchoStar
Corp.,
Cl. A†
..............................
579,000
121,000
Liberty
Global
plc,
Cl. A†
..........................
2,547,050
136,000
Liberty
Global
plc,
Cl. C†
..........................
3,004,240
90,000
WideOpenWest
Inc.†
................................
1,638,900
9,997,260
Communications
Equipment
—
0.0%
35,000
Telesat
Corp.†
..........................................
390,950
Computer
Software
and
Services
—
1.7%
82,000
Activision
Blizzard
Inc.
..............................
6,384,520
375,000
Alithya
Group
Inc.,
Cl. A†
..........................
903,750
185,000
GTY
Technology
Holdings
Inc.†
................
1,158,100
10,000
I3
Verticals
Inc.,
Cl. A†
.............................
250,200
12,000
MKS
Instruments
Inc.
...............................
1,231,560
28,000
Rockwell
Automation
Inc.
.........................
5,580,680
31,800
Tyler
Technologies
Inc.†
...........................
10,572,864
8,117
Vimeo
Inc.†
..............................................
48,864
26,130,538
Consumer
Products
—
2.2%
120,000
1-800-Flowers.com
Inc.,
Cl. A†
.................
1,141,200
68,000
Brunswick
Corp.
.......................................
4,445,840
32,000
Chofu
Seisakusho
Co.
Ltd.
........................
415,802
40,000
Church
&
Dwight
Co.
Inc.
.........................
3,706,400
27,000
Energizer
Holdings
Inc.
.............................
765,450
2,000
Harley-Davidson
Inc.
................................
63,320
45,000
Hunter
Douglas
NV†
.................................
8,252,606
2,500
Kobayashi
Pharmaceutical
Co.
Ltd.
...........
154,039
3,800
LCI
Industries
..........................................
425,144
220,000
Marine
Products
Corp.
..............................
2,092,200
5,500
National
Presto
Industries
Inc.
..................
361,020
225,000
Sally
Beauty
Holdings
Inc.†
......................
2,682,000
215,000
Samick
Musical
Instruments
Co.
Ltd.
........
230,168
3,700
Shimano
Inc.
............................................
625,030
10,000
Steven
Madden
Ltd.
..................................
322,100
250,000
Swedish
Match
AB
...................................
2,546,494
10,000
The
Scotts
Miracle-Gro
Co.
.......................
789,900
9,500
WD-40
Co.
...............................................
1,912,920
84,000
Wolverine
World
Wide
Inc.
.......................
1,693,440
32,625,073
Consumer
Services
—
1.1%
53,000
Bowlin
Travel
Centers
Inc.†
.......................
266,325
15,500
H&E
Equipment
Services
Inc.
...................
449,035
5,000
IAC/InterActiveCorp.†
...............................
379,850
180,000
KAR
Auction
Services
Inc.†
......................
2,658,600
Shares
Market
Value
347,500
Rollins
Inc.
...............................................
$
12,134,700
15,888,510
Diversified
Industrial
—
12.6%
10,000
Acuity
Brands
Inc.
....................................
1,540,400
53,000
Albany
International
Corp.,
Cl. A
................
4,175,870
192,500
Ampco-Pittsburgh
Corp.†
.........................
744,975
66,000
Burnham
Holdings
Inc.,
Cl. A
....................
942,150
357,500
Crane
Holdings
Co.
...................................
31,302,700
49,300
Distribution
Solutions
Group
Inc.†
............
2,533,527
100,000
EnPro
Industries
Inc.
................................
8,193,000
110,000
Greif
Inc.,
Cl. A
.........................................
6,861,800
96,362
Greif
Inc.,
Cl. B
.........................................
6,002,389
1,266,000
Griffon
Corp.
............................................
35,485,980
21,000
Hyster-Yale
Materials
Handling
Inc.
...........
676,620
6,000
JSP
Corp.
................................................
61,689
94,022
Kimball
International
Inc.,
Cl. B
.................
721,149
89,017
L.B.
Foster
Co.,
Cl. A†
...............................
1,145,649
44,000
Lincoln
Electric
Holdings
Inc.
....................
5,427,840
37,500
Lindsay
Corp.
...........................................
4,980,750
38,000
Matthews
International
Corp.,
Cl. A
...........
1,089,460
920,000
Myers
Industries
Inc.
................................
20,911,600
74,007
Oil-Dri
Corp.
of
America
............................
2,268,314
13,000
Olin
Corp.
................................................
601,640
320,000
Park-Ohio
Holdings
Corp.
.........................
5,075,200
12,500
Pentair
plc
................................................
572,125
14,500
Roper
Technologies
Inc.
...........................
5,722,425
55,000
Sonoco
Products
Co.
................................
3,137,200
51,000
Standex
International
Corp.
.......................
4,323,780
110,000
Steel
Connect
Inc.†
..................................
147,400
84,029
Steel
Partners
Holdings
LP†
.....................
3,527,117
13,000
T.
Hasegawa
Co.
Ltd.
................................
264,350
7,000
Terex
Corp.
..............................................
191,590
339,000
Textron
Inc.
..............................................
20,702,730
400,000
Tredegar
Corp.
.........................................
4,000,000
227,000
Trinity
Industries
Inc.
................................
5,497,940
44,000
Ultra
Electronics
Holdings
plc
...................
1,854,289
190,683,648
Electronics
—
2.4%
135,500
Badger
Meter
Inc.
.....................................
10,960,595
213,000
Bel
Fuse
Inc.,
Cl. A(a)
...............................
4,639,140
459,500
CTS
Corp.
................................................
15,645,975
34,000
Daktronics
Inc.†
.......................................
102,340
120,000
Gentex
Corp.
............................................
3,356,400
20,000
IMAX
Corp.†
............................................
337,800
30,000
Renesas
Electronics
Corp.†
......................
272,627
63,000
Stoneridge
Inc.†
.......................................
1,080,450
36,395,327
Energy
and
Utilities
—
2.9%
18,000
Avangrid
Inc.
............................................
830,160
19,000
Callon
Petroleum
Co.†
..............................
744,800
10,000
Chesapeake
Utilities
Corp.
........................
1,295,500
3
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Energy
and
Utilities
(Continued)
35,000
CMS
Energy
Corp.
....................................
$
2,362,500
20,000
Consolidated
Water
Co.
Ltd.
......................
290,000
38,000
Diamondback
Energy
Inc.
.........................
4,603,700
55,000
Dril-Quip
Inc.†
..........................................
1,419,000
74,000
Energy
Recovery
Inc.†
..............................
1,437,080
27,000
Landis+Gyr
Group
AG
...............................
1,415,545
24,000
Marathon
Petroleum
Corp.
........................
1,973,040
3,500
Middlesex
Water
Co.
.................................
306,880
11,000
Northwest
Natural
Holding
Co.
..................
584,100
21,500
NorthWestern
Corp.
..................................
1,266,995
9,700
Otter
Tail
Corp.
.........................................
651,161
1,790,000
RPC
Inc.†
................................................
12,368,900
20,000
Siemens
Gamesa
Renewable
Energy
SA†
..
375,376
87,000
SJW
Group
..............................................
5,429,670
32,000
Southwest
Gas
Holdings
Inc.
....................
2,786,560
8,000
Spire
Inc.
.................................................
594,960
33,200
The
York
Water
Co.
...................................
1,342,276
19,556
TravelCenters
of
America
Inc.†
..................
674,095
55,000
Vestas
Wind
Systems
A/S
.........................
1,161,598
43,913,896
Entertainment
—
1.3%
76,500
Inspired
Entertainment
Inc.†
.....................
658,665
150,000
Liberty
Media
Corp.-
Liberty
Braves,
Cl. A†
3,772,500
200,000
Liberty
Media
Corp.-
Liberty
Braves,
Cl. C†
4,800,000
34,000
Madison
Square
Garden
Sports
Corp.†
.....
5,134,000
66,000
Manchester
United
plc,
Cl. A
.....................
733,920
8,000
Take-Two
Interactive
Software
Inc.†
..........
980,240
3,500
The
Walt
Disney
Co.†
...............................
330,400
35,000
Universal
Entertainment
Corp.†
.................
375,332
57,000
World
Wrestling
Entertainment
Inc.,
Cl. A
..
3,561,930
20,346,987
Environmental
Services
—
0.6%
66,000
Republic
Services
Inc.
..............................
8,637,420
Equipment
and
Supplies
—
16.0%
17,500
A.O.
Smith
Corp.
......................................
956,900
399,000
AMETEK
Inc.
............................................
43,846,110
56,000
AZZ
Inc.
...................................................
2,285,920
12,800
Chart
Industries
Inc.†
...............................
2,142,464
155,000
CIRCOR
International
Inc.†
.......................
2,540,450
317,000
Core
Molding
Technologies
Inc.†
..............
2,913,230
104,000
Crown
Holdings
Inc.
.................................
9,585,680
2,025
Danaher
Corp.
..........................................
513,378
100,000
Donaldson
Co.
Inc.
...................................
4,814,000
45,000
Entegris
Inc.
.............................................
4,145,850
216,000
Federal
Signal
Corp.
.................................
7,689,600
241,000
Flowserve
Corp.
.......................................
6,899,830
158,000
Franklin
Electric
Co.
Inc.
...........................
11,575,080
440,000
Graco
Inc.
................................................
26,140,400
35,000
IDEX
Corp.
...............................................
6,357,050
Shares
Market
Value
140,000
Interpump
Group
SpA
..............................
$
5,337,419
7,400
Littelfuse
Inc.
...........................................
1,879,896
110,000
Maezawa
Kyuso
Industries
Co.
Ltd.
...........
722,361
60,000
Minerals
Technologies
Inc.
.......................
3,680,400
6,000
MSA
Safety
Inc.
.......................................
726,420
676,000
Mueller
Industries
Inc.
..............................
36,024,040
335,000
Mueller
Water
Products
Inc.,
Cl. A
.............
3,929,550
3,500
Teleflex
Inc.
..............................................
860,475
169,500
Tennant
Co.
..............................................
10,042,875
744,000
The
Gorman-Rupp
Co.
..............................
21,055,200
92,000
The
Greenbrier
Companies
Inc.
.................
3,311,080
115,003
The
L.S.
Starrett
Co.,
Cl. A†
......................
807,321
40,000
The
Manitowoc
Co.
Inc.†
..........................
421,200
50,000
The
Middleby
Corp.†
................................
6,268,000
36,000
The
Timken
Co.
........................................
1,909,800
30,000
The
Toro
Co.
............................................
2,273,700
7,000
Valmont
Industries
Inc.
.............................
1,572,410
7,875
Watsco
Inc.,
Cl. B
.....................................
1,907,719
47,000
Watts
Water
Technologies
Inc.,
Cl. A
.........
5,773,480
240,909,288
Financial
Services
—
4.3%
700
Alleghany
Corp.†
......................................
583,170
8,240
Ameris
Bancorp
.......................................
331,083
25,000
Argo
Group
International
Holdings
Ltd.
.....
921,500
12,000
Capitol
Federal
Financial
Inc.
.....................
110,160
20,900
Crazy
Woman
Creek
Bancorp
Inc.
.............
545,490
325,000
Energy
Transfer
LP
...................................
3,243,500
150
Farmers
&
Merchants
Bank
of
Long
Beach
1,143,900
335,450
Flushing
Financial
Corp.
............................
7,131,667
66,000
FNB
Corp.
................................................
716,760
195,000
GAM
Holding
AG†
....................................
161,368
278,000
Hope
Bancorp
Inc.
....................................
3,847,520
410,000
Huntington
Bancshares
Inc.
......................
4,932,300
678,000
KKR
&
Co.
Inc.
.........................................
31,384,620
80,000
Medallion
Financial
Corp.
..........................
512,000
8,000
PROG
Holdings
Inc.†
................................
132,000
85,000
Pzena
Investment
Management
Inc.,
Cl. A
.
560,150
44,000
Sandy
Spring
Bancorp
Inc.
.......................
1,719,080
18,000
Sculptor
Capital
Management
Inc.
.............
150,300
800
SouthState
Corp.
......................................
61,720
41,000
Synovus
Financial
Corp.
...........................
1,478,050
16,000
TFS
Financial
Corp.
...................................
219,680
15,000
Thomasville
Bancshares
Inc.
.....................
964,125
230,000
Valley
National
Bancorp
............................
2,394,300
35,300
Value
Line
Inc.
.........................................
2,331,565
10,000
Waterloo
Investment
Holdings
Ltd.†(b)
.....
5,000
133,000
Wright
Investors'
Service
Holdings
Inc.†
...
33,649
65,614,657
Food
and
Beverage
—
7.0%
425,000
Arca
Continental
SAB
de
CV
......................
2,803,041
80,000
Brown-Forman
Corp.,
Cl. A
.......................
5,411,200
4
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
40,000
Bull-Dog
Sauce
Co.
Ltd.
............................
$
551,297
900,000
China
Tontine
Wines
Group
Ltd.†
..............
11,011
195,000
Chr.
Hansen
Holding
A/S
...........................
14,193,208
284,000
Crimson
Wine
Group
Ltd.†
.......................
2,027,760
220,000
Denny's
Corp.†
........................................
1,909,600
500,000
Dynasty
Fine
Wines
Group
Ltd.†
...............
22,939
130,000
Farmer
Brothers
Co.†
...............................
609,700
412,000
Flowers
Foods
Inc.
...................................
10,843,840
114,000
ITO
EN
Ltd.
..............................................
5,108,491
46,000
Iwatsuka
Confectionery
Co.
Ltd.
................
1,352,742
23,000
J
&
J
Snack
Foods
Corp.
..........................
3,212,180
107,000
Kameda
Seika
Co.
Ltd.
..............................
3,805,093
240,000
Kikkoman
Corp.
........................................
12,735,849
675,000
Maple
Leaf
Foods
Inc.
..............................
13,272,413
6,000
MEIJI
Holdings
Co.
Ltd.
............................
294,516
14,200
MGP
Ingredients
Inc.
................................
1,421,278
62,000
Morinaga
Milk
Industry
Co.
Ltd.
................
2,220,814
7,000
National
Beverage
Corp.
...........................
342,580
43,500
Nissin
Foods
Holdings
Co.
Ltd.
.................
3,004,090
13,500
Post
Holdings
Inc.†
..................................
1,111,725
60,000
Rock
Field
Co.
Ltd.
...................................
642,099
2,000
The
Boston
Beer
Co.
Inc.,
Cl. A†
...............
605,940
57,200
The
J.M.
Smucker
Co.
..............................
7,322,172
625,000
Tingyi
(Cayman
Islands)
Holding
Corp.
.....
1,070,500
36,050
Tootsie
Roll
Industries
Inc.
.......................
1,274,367
370,000
Vina
Concha
y
Toro
SA
.............................
506,021
950,000
Vitasoy
International
Holdings
Ltd.
............
1,661,059
20,000
Willamette
Valley
Vineyards
Inc.†
..............
125,400
100,000
Yakult
Honsha
Co.
Ltd.
.............................
5,770,932
105,243,857
Health
Care
—
4.8%
1,400
Align
Technology
Inc.†
.............................
331,338
6,700
Bio-Rad
Laboratories
Inc.,
Cl. A†
..............
3,316,500
13,500
Bruker
Corp.
............................................
847,260
920
Chemed
Corp.
..........................................
431,839
21,500
CONMED
Corp.
........................................
2,058,840
32,000
Covetrus
Inc.†
..........................................
664,000
400,000
Cutera
Inc.†
.............................................
15,000,000
50,000
Dexcom
Inc.†
...........................................
3,726,500
10,000
Evolent
Health
Inc.,
Cl. A†
.........................
307,100
7,700
Global
Blood
Therapeutics
Inc.†
................
246,015
150,000
Globus
Medical
Inc.,
Cl. A†
.......................
8,421,000
70,500
Henry
Schein
Inc.†
...................................
5,410,170
28,000
ICU
Medical
Inc.†
.....................................
4,602,920
33,200
Masimo
Corp.†
........................................
4,338,244
80,000
Meridian
Bioscience
Inc.†
.........................
2,433,600
45,000
Neogen
Corp.†
.........................................
1,084,050
40,000
Neuronetics
Inc.†
.....................................
128,400
90,000
NuVasive
Inc.†
.........................................
4,424,400
Shares
Market
Value
216,000
OPKO
Health
Inc.†
....................................
$
546,480
129,000
Orthofix
Medical
Inc.†
..............................
3,036,660
17,000
Patterson
Cos.
Inc.
...................................
515,100
24,000
Seikagaku
Corp.
.......................................
144,340
24,000
STERIS
plc
...............................................
4,947,600
19,000
Straumann
Holding
AG
.............................
2,281,831
3,000
Stryker
Corp.
............................................
596,790
1,133
Surgalign
Holdings
Inc.†
..........................
3,863
30,000
SurModics
Inc.†
.......................................
1,116,900
22,500
Teladoc
Health
Inc.†
.................................
747,225
100
The
Cooper
Companies
Inc.
......................
31,312
38,000
United-Guardian
Inc.
................................
569,620
72,309,897
Home
Furnishings
—
0.3%
171,500
Bassett
Furniture
Industries
Inc.
...............
3,107,580
5,000
Ethan
Allen
Interiors
Inc.
..........................
101,050
70,000
La-Z-Boy
Inc.
...........................................
1,659,700
4,868,330
Hotels
and
Gaming
—
4.4%
54,000
Boyd
Gaming
Corp.
..................................
2,686,500
191,040
Canterbury
Park
Holding
Corp.
.................
4,942,205
101,200
Churchill
Downs
Inc.
................................
19,382,836
120,000
Formosa
International
Hotels
Corp.
...........
669,951
530,000
Full
House
Resorts
Inc.†
...........................
3,222,400
48,508
Gaming
and
Leisure
Properties
Inc.,
REIT
.
2,224,577
12,000
GAN
Ltd.†
................................................
35,520
750,000
Genting
Singapore
Ltd.
.............................
388,685
93,000
Golden
Entertainment
Inc.†
.......................
3,678,150
2,500,000
Mandarin
Oriental
International
Ltd.†
........
4,725,000
3,500
Penn
National
Gaming
Inc.†
......................
106,470
253,000
Ryman
Hospitality
Properties
Inc.,
REIT†
..
19,235,590
2,500,000
The
Hongkong
&
Shanghai
Hotels
Ltd.†
....
2,300,301
129,000
The
Marcus
Corp.†
...................................
1,905,330
13,500
Wynn
Resorts
Ltd.†
..................................
769,230
66,272,745
Machinery
—
2.5%
336,000
Astec
Industries
Inc.
.................................
13,702,080
1,420,000
CNH
Industrial
NV
....................................
16,457,800
95,000
Kennametal
Inc.
.......................................
2,206,850
5,000
Nordson
Corp.
.........................................
1,012,200
160,000
The
Eastern
Co.
........................................
3,254,400
103,057
Twin
Disc
Inc.†
.........................................
933,696
37,567,026
Manufactured
Housing
and
Recreational
Vehicles
—
1.5%
70,500
Cavco
Industries
Inc.†
..............................
13,817,295
71,000
Nobility
Homes
Inc.
..................................
1,988,000
81,500
Skyline
Champion
Corp.†
.........................
3,864,730
52,000
Winnebago
Industries
Inc.
........................
2,525,120
22,195,145
5
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Metals
and
Mining
—
0.0%
45,000
Ivanhoe
Mines
Ltd.,
Cl. A†
........................
$
259,051
95,000
Kinross
Gold
Corp.
...................................
340,100
599,151
Publishing
—
0.8%
2,500
Graham
Holdings
Co.,
Cl. B
.......................
1,417,100
5,000
John
Wiley
&
Sons
Inc.,
Cl. B
...................
240,078
34,000
News
Corp.,
Cl. A
.....................................
529,720
775,000
The
E.W.
Scripps
Co.,
Cl. A†
.....................
9,664,250
11,851,148
Real
Estate
—
2.9%
78,500
Capital
Properties
Inc.,
Cl. A
.....................
959,662
7,567
Gyrodyne
LLC†
........................................
90,880
253,400
Indus
Realty
Trust
Inc.,
REIT
.....................
15,041,824
17,500
Lamar
Advertising
Co.,
Cl. A,
REIT
............
1,539,475
89,800
Morguard
Corp.
........................................
7,604,257
15,000
Reading
International
Inc.,
Cl. A†
..............
54,150
4,000
Reading
International
Inc.,
Cl. B†
..............
84,000
30,000
Seritage
Growth
Properties,
Cl. A,
REIT†
...
156,300
140,000
Tejon
Ranch
Co.†
.....................................
2,172,800
387,500
The
St.
Joe
Co.
.........................................
15,329,500
100,000
Trinity
Place
Holdings
Inc.†
......................
101,000
43,133,848
Retail
—
6.0%
127,500
AutoNation
Inc.†
......................................
14,249,400
9,000
Big
5
Sporting
Goods
Corp.
......................
100,890
900
Biglari
Holdings
Inc.,
Cl. A†
......................
529,047
85,000
Copart
Inc.†
.............................................
9,236,100
523
Hertz
Global
Holdings
Inc.†
......................
8,284
45
Hertz
Global
Holdings
Inc.†
......................
713
261,000
Ingles
Markets
Inc.,
Cl. A
..........................
22,641,750
30,000
Lands'
End
Inc.†
......................................
318,600
70,000
Movado
Group
Inc.
...................................
2,165,100
157,000
Nathan's
Famous
Inc.
...............................
9,195,490
71,000
Penske
Automotive
Group
Inc.
..................
7,432,990
93,000
Pets
at
Home
Group
plc
............................
347,778
336,500
Rush
Enterprises
Inc.,
Cl. B
......................
16,693,765
10,000
Salvatore
Ferragamo
SpA
.........................
154,049
10,000
The
Cheesecake
Factory
Inc.
.....................
264,200
31,000
Tractor
Supply
Co.
....................................
6,009,350
60,000
Village
Super
Market
Inc.,
Cl. A
.................
1,368,600
6,700
Vroom
Inc.†
.............................................
8,375
3,500
Weis
Markets
Inc.
.....................................
260,890
600
Winmark
Corp.
.........................................
117,342
91,102,713
Specialty
Chemicals
—
2.1%
3,300
Albemarle
Corp.
.......................................
689,634
28,000
Ashland
Global
Holdings
Inc.
....................
2,885,400
65,000
GCP
Applied
Technologies
Inc.†
................
2,033,200
Shares
Market
Value
248,000
H.B.
Fuller
Co.
..........................................
$
14,932,080
37,500
Hawkins
Inc.
............................................
1,351,125
42,000
Huntsman
Corp.
.......................................
1,190,700
5,600
NewMarket
Corp.
.....................................
1,685,376
8,400
Quaker
Chemical
Corp.
.............................
1,255,968
34,000
Sensient
Technologies
Corp.
.....................
2,739,040
2,500
Takasago
International
Corp.
.....................
44,848
91,200
The
General
Chemical
Group
Inc.†(b)
........
0
95,000
Valvoline
Inc.
...........................................
2,738,850
31,546,221
Telecommunications
—
0.8%
60,000
Consolidated
Communications
Holdings
Inc.†
.....................................................
420,000
61,000
Gogo
Inc.†
...............................................
987,590
3,500
IDT
Corp.,
Cl. B†
......................................
88,025
61,000
Iridium
Communications
Inc.†
..................
2,291,160
86,000
Nuvera
Communications
Inc.
....................
1,602,180
82,000
Rogers
Communications
Inc.,
Cl. B
...........
3,927,800
109,500
Shenandoah
Telecommunications
Co.
.......
2,430,900
860,000
VEON
Ltd.,
ADR†
.....................................
395,600
12,143,255
Transportation
—
2.4%
363,000
GATX
Corp.
..............................................
34,180,080
18,600
Irish
Continental
Group
plc
.......................
69,196
125,053
Navigator
Holdings
Ltd.†
..........................
1,411,849
35,661,125
Wireless
Communications
—
0.0%
25,000
United
States
Cellular
Corp.†
....................
724,000
TOTAL
COMMON
STOCKS
..................
1,485,847,995
CLOSED-END
FUNDS
—
0.1%
60,000
The
Central
Europe,
Russia,
and
Turkey
Fund
Inc.
..............................................
597,600
32,729
The
European
Equity
Fund
Inc.
..................
233,685
119,537
The
New
Germany
Fund
Inc.
.....................
1,008,295
TOTAL
CLOSED-END
FUNDS
................
1,839,580
PREFERRED
STOCKS
—
0.1%
Automotive:
Parts
and
Accessories
—
0.1%
87,000
Jungheinrich
AG
.......................................
1,896,370
RIGHTS
—
0.0%
Communications
Equipment
—
0.0%
60,500
Pineapple
Energy
Inc.,
CVR†(b)
................
0
WARRANTS
—
0.0%
Business
Services
—
0.0%
1
Internap
Corp.,
expire
05/08/24†(b)
..........
652
6
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2022
(Unaudited)
Shares
Market
Value
WARRANTS
(Continued)
Diversified
Industrial
—
0.0%
140,000
Ampco-Pittsburgh
Corp.,
expire
08/01/25†
$
58,380
TOTAL
WARRANTS
..........................
59,032
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
0.1%
$
1,075,000
U.S.
Treasury
Bill,
1.683%††,
09/29/22
.............................
1,070,606
TOTAL
MISCELLANEOUS
INVESTMENTS
—
1.3%(c)
.................................
19,873,111
TOTAL
INVESTMENTS
—
100.0%
(Cost
$508,122,382)
.............................
$
1,510,586,694
(a)
Security
considered
an
affiliated
holding
because
the
Fund
owns
at
least
5%
of
its
outstanding
shares.
(b)
Security
is
valued
using
significant
unobservable
inputs
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.
††
Represents
annualized
yield
at
date
of
purchase.
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Right
REIT
Real
Estate
Investment
Trust