1
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
—
June
30,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
96.9%
—
0.1%
20,000
Iveco
Group
NV†
......................................
$
180,092
6,000
Madison
Square
Garden
Entertainment
Corp.†
..................................................
201,720
381,812
Aerospace
—
0.8%
14,000
Aerojet
Rocketdyne
Holdings
Inc.†
............
768,180
2,000
Lockheed
Martin
Corp.
.............................
920,760
8,200
Rockwell
Automation
Inc.
.........................
2,701,490
4,390,430
Agriculture
—
0.8%
50,000
Archer-Daniels-Midland
Co.
......................
3,778,000
10,000
The
Mosaic
Co.
........................................
350,000
4,128,000
Automotive
—
0.4%
14,500
PACCAR
Inc.
............................................
1,212,925
44,000
Traton
SE
.................................................
941,051
2,153,976
Automotive:
Parts
and
Accessories
—
5.4%
80,000
Dana
Inc.
.................................................
1,360,000
166,400
Genuine
Parts
Co.
.....................................
28,159,872
29,519,872
Broadcasting
—
0.5%
74,000
Liberty
Global
plc,
Cl. A†
..........................
1,247,640
11,000
Liberty
Global
plc,
Cl. C†
..........................
195,470
45,000
Sinclair
Inc.
..............................................
621,900
44,000
TEGNA
Inc.
..............................................
714,560
2,779,570
Building
and
Construction
—
2.1%
30,000
Carrier
Global
Corp.
..................................
1,491,300
39,500
Fortune
Brands
Innovations
Inc.
...............
2,842,025
23,500
Herc
Holdings
Inc.
....................................
3,215,975
47,500
Johnson
Controls
International
plc
............
3,236,650
10,000
Knife
River
Corp.†
....................................
435,000
30,000
Masterbrand
Inc.†
....................................
348,900
11,569,850
Business
Services
—
3.8%
10,000
Automatic
Data
Processing
Inc.
................
2,197,900
24,600
Mastercard
Inc.,
Cl. A
...............................
9,675,180
2,400
MSC
Industrial
Direct
Co.
Inc.,
Cl. A
..........
228,672
30,500
Pentair
plc
................................................
1,970,300
16,000
S&P
Global
Inc.
........................................
6,414,240
20,486,292
Cable
and
Satellite
—
0.3%
120,000
DISH
Network
Corp.,
Cl. A†
......................
790,800
16,000
EchoStar
Corp.,
Cl. A†
..............................
277,440
Shares
Market
Value
20,000
Liberty
Media
Corp.
-
Liberty
Braves,
Cl. A†
...................................................
$
818,400
1,886,640
Communications
Equipment
—
0.3%
42,000
Corning
Inc.
.............................................
1,471,680
Computer
Hardware
—
1.8%
31,300
Apple
Inc.
................................................
6,071,261
25,800
International
Business
Machines
Corp.
......
3,452,298
9,523,559
Computer
Software
and
Services
—
2.3%
90,000
Hewlett
Packard
Enterprise
Co.
.................
1,512,000
31,500
Microsoft
Corp.
........................................
10,727,010
12,239,010
Consumer
Products
—
1.4%
1,500
Ball
Corp.
.................................................
87,315
5,500
Edgewell
Personal
Care
Co.
......................
227,205
49,500
Energizer
Holdings
Inc.
.............................
1,662,210
30,000
Essity
AB,
Cl. A
.........................................
796,914
1,000
National
Presto
Industries
Inc.
..................
73,200
34,000
Reckitt
Benckiser
Group
plc
......................
2,552,802
41,000
Unilever
plc,
ADR
.....................................
2,137,330
7,536,976
Consumer
Services
—
0.1%
1,600
Allegion
plc
..............................................
192,032
14,000
Rollins
Inc.
...............................................
599,620
791,652
Diversified
Industrial
—
6.6%
1,200
AMETEK
Inc.
............................................
194,256
68,500
Crane
Co.
.................................................
6,104,720
48,000
Crane
NXT
Co.
..........................................
2,709,120
33,500
Eaton
Corp.
plc
.........................................
6,736,850
1,500
Honeywell
International
Inc.
......................
311,250
8,600
Ingersoll
Rand
Inc.
...................................
562,096
48,000
ITT
Inc.
....................................................
4,474,080
38,000
Jardine
Matheson
Holdings
Ltd.
................
1,924,700
20,000
Modine
Manufacturing
Co.†
......................
660,400
13,500
Myers
Industries
Inc.
................................
262,305
21,500
nVent
Electric
plc
......................................
1,110,905
21,500
Svenska
Cellulosa
AB
SCA,
Cl. A
...............
274,697
110,000
Textron
Inc.
..............................................
7,439,300
150,000
Toray
Industries
Inc.
.................................
832,045
8,000
Trane
Technologies
plc
.............................
1,530,080
25,000
Trinity
Industries
Inc.
................................
642,750
35,769,554
Electronics
—
2.2%
6,500
Sony
Group
Corp.
.....................................
584,029
33,000
Sony
Group
Corp.,
ADR
............................
2,971,320
48,000
TE
Connectivity
Ltd.
..................................
6,727,680
2
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Electronics
(Continued)
10,000
Texas
Instruments
Inc.
.............................
$
1,800,200
12,083,229
Energy
and
Utilities:
Electric
—
0.4%
8,000
Avangrid
Inc.
............................................
301,440
20,000
Korea
Electric
Power
Corp.,
ADR†
.............
155,000
13,500
Portland
General
Electric
Co.
.....................
632,205
63,000
The
AES
Corp.
..........................................
1,305,990
2,394,635
Energy
and
Utilities:
Integrated
—
0.6%
50,000
Energy
Transfer
LP
...................................
635,000
21,000
Eni
SpA
....................................................
302,068
6,500
Iberdrola
SA,
ADR
....................................
339,755
57,000
OGE
Energy
Corp.
.....................................
2,046,870
3,323,693
Energy
and
Utilities:
Natural
Gas
—
2.1%
115,000
National
Fuel
Gas
Co.
................................
5,906,400
11,500
ONE
Gas
Inc.
............................................
883,315
59,000
ONEOK
Inc.
..............................................
3,641,480
16,000
Southwest
Gas
Holdings
Inc.
....................
1,018,400
11,449,595
Energy
and
Utilities:
Oil
—
3.7%
26,000
Callon
Petroleum
Co.†
..............................
911,820
40,000
Chevron
Corp.
..........................................
6,294,000
4,500
ConocoPhillips
.........................................
466,245
6,800
Devon
Energy
Corp.
..................................
328,712
12,000
Exxon
Mobil
Corp.
....................................
1,287,000
56,000
Hess
Corp.
...............................................
7,613,200
18,000
Marathon
Petroleum
Corp.
........................
2,098,800
13,500
TotalEnergies
SE,
ADR
..............................
778,140
1,706
Vitesse
Energy
Inc.
...................................
38,214
19,816,131
Energy
and
Utilities:
Services
—
0.8%
4,000
Dril-Quip
Inc.†
..........................................
93,080
94,500
Halliburton
Co.
.........................................
3,117,555
23,000
MDU
Resources
Group
Inc.
......................
481,620
11,000
Schlumberger
NV
.....................................
540,320
4,232,575
Energy
and
Utilities:
Water
—
0.1%
3,600
Essential
Utilities
Inc.
...............................
143,676
17,000
Severn
Trent
plc
.......................................
553,999
697,675
Entertainment
—
1.3%
90,000
Grupo
Televisa
SAB,
ADR
.........................
461,700
2,500
Madison
Square
Garden
Sports
Corp.
.......
470,125
315,000
Paramount
Global,
Cl. A
............................
5,846,400
6,000
Sphere
Entertainment
Co.†
.......................
164,340
6,942,565
Shares
Market
Value
Environmental
Services
—
0.2%
7,500
Republic
Services
Inc.
..............................
$
1,148,775
Equipment
and
Supplies
—
5.8%
6,000
A.O.
Smith
Corp.
......................................
436,680
1,000
Crown
Holdings
Inc.
.................................
86,870
14,000
Danaher
Corp.
..........................................
3,360,000
160,000
Flowserve
Corp.
.......................................
5,944,000
50,000
Graco
Inc.
................................................
4,317,500
23,000
Minerals
Technologies
Inc.
.......................
1,326,870
119,200
Mueller
Industries
Inc.
..............................
10,403,776
15,000
Parker-Hannifin
Corp.
...............................
5,850,600
31,726,296
Financial
Services
—
12.4%
20,000
AllianceBernstein
Holding
LP
....................
643,200
19,000
American
Express
Co.
...............................
3,309,800
19,000
Ameris
Bancorp
.......................................
649,990
3,700
Argo
Group
International
Holdings
Ltd.
.....
109,557
5,195
Banco
Santander
Chile,
ADR
.....................
97,926
124,500
Bank
of
America
Corp.
..............................
3,571,905
12,000
BNP
Paribas
SA
........................................
755,809
34,000
Interactive
Brokers
Group
Inc.,
Cl. A
.........
2,824,380
14,500
Jefferies
Financial
Group
Inc.
....................
480,965
8,500
JPMorgan
Chase
&
Co.
.............................
1,236,240
48,500
Julius
Baer
Group
Ltd.
..............................
3,052,891
21,000
Kinnevik
AB,
Cl. A†
...................................
325,552
63,500
Loews
Corp.
.............................................
3,770,630
11,200
M&T
Bank
Corp.
.......................................
1,386,112
14,500
Marsh
&
McLennan
Companies
Inc.
..........
2,727,160
10,000
Morgan
Stanley
........................................
854,000
5,800
Popular
Inc.
.............................................
351,016
64,000
SLM
Corp.
...............................................
1,044,480
122,000
State
Street
Corp.
.....................................
8,927,960
6,300
T.
Rowe
Price
Group
Inc.
..........................
705,726
297,000
The
Bank
of
New
York
Mellon
Corp.
..........
13,222,440
15,000
The
Goldman
Sachs
Group
Inc.
.................
4,838,100
23,500
The
PNC
Financial
Services
Group
Inc.
......
2,959,825
222
UBS
Group
AG
.........................................
4,488
53,000
Valley
National
Bancorp
............................
410,750
117,000
Webster
Financial
Corp.
............................
4,416,750
108,000
Wells
Fargo
&
Co.
....................................
4,609,440
67,287,092
Food
and
Beverage
—
18.1%
1,000
Anheuser-Busch
InBev
SA/NV
...................
56,557
197,000
Brown-Forman
Corp.,
Cl. A
.......................
13,409,790
34,000
Campbell
Soup
Co.
...................................
1,554,140
19,000
Coca-Cola
Europacific
Partners
plc
............
1,224,170
10,000
Coca-Cola
Femsa
SAB
de
CV,
ADR
............
833,100
5,400
Constellation
Brands
Inc.,
Cl. A
.................
1,329,102
35,000
Danone
SA
...............................................
2,144,099
35,000
Davide
Campari-Milano
NV
.......................
484,657
49,500
Diageo
plc,
ADR
.......................................
8,587,260
3
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
81,500
Fomento
Economico
Mexicano
SAB
de
CV,
ADR
.....................................................
$
9,033,460
1,000
General
Mills
Inc.
.....................................
76,700
1,675,000
Grupo
Bimbo
SAB
de
CV,
Cl. A
..................
8,996,874
93,000
Heineken
NV
............................................
9,557,537
132,000
ITO
EN
Ltd.
..............................................
3,630,812
17,500
Kellogg
Co.
..............................................
1,179,500
4,000
McCormick
&
Co.
Inc.
..............................
346,400
31,200
McCormick
&
Co.
Inc.,
Non-Voting
...........
2,721,576
31,000
Mondelēz
International
Inc.,
Cl. A
..............
2,261,140
31,800
Nestlé
SA
.................................................
3,822,893
54,000
Nissin
Foods
Holdings
Co.
Ltd.
.................
4,457,119
31,000
PepsiCo
Inc.
.............................................
5,741,820
23,800
Pernod
Ricard
SA
.....................................
5,256,441
31,200
Remy
Cointreau
SA
..................................
5,002,977
30,000
Sapporo
Holdings
Ltd.
..............................
770,297
4,500
The
Boston
Beer
Co.
Inc.,
Cl. A†
...............
1,387,980
10,000
The
Coca-Cola
Co.
....................................
602,200
1,000
The
Hershey
Co.
.......................................
249,700
50,000
The
Kraft
Heinz
Co.
...................................
1,775,000
32,000
Yakult
Honsha
Co.
Ltd.
.............................
2,019,197
98,512,498
Health
Care
—
4.5%
4,400
Abbott
Laboratories
..................................
479,688
3,000
AbbVie
Inc.
..............................................
404,190
3,200
Alcon
Inc.
................................................
262,752
75,000
Baxter
International
Inc.
............................
3,417,000
4,400
Bio-Rad
Laboratories
Inc.,
Cl. A†
..............
1,668,128
87,500
Bristol-Myers
Squibb
Co.
..........................
5,595,625
69,500
Demant
A/S†
............................................
2,938,485
6,400
GSK
plc,
ADR
...........................................
228,096
8,000
Haleon
plc,
ADR
.......................................
67,040
30,000
Henry
Schein
Inc.†
...................................
2,433,000
16,000
Merck
&
Co.
Inc.
......................................
1,846,240
12,000
Novartis
AG,
ADR
.....................................
1,210,920
24,000
Perrigo
Co.
plc
.........................................
814,800
21,500
Pfizer
Inc.
................................................
788,620
42,500
Roche
Holding
AG,
ADR
...........................
1,623,500
2,000
Zimmer
Biomet
Holdings
Inc.
...................
291,200
10,000
Zimvie
Inc.†
.............................................
112,300
24,181,584
Hotels
and
Gaming
—
0.1%
12,000
MGM
Resorts
International
.......................
527,040
1,500
Wynn
Resorts
Ltd.
...................................
158,415
685,455
Machinery
—
4.3%
6,000
Caterpillar
Inc.
..........................................
1,476,300
145,000
CNH
Industrial
NV
....................................
2,088,000
44,700
Deere
&
Co.
.............................................
18,111,993
Shares
Market
Value
6,000
Otis
Worldwide
Corp.
...............................
$
534,060
8,500
Xylem
Inc.
................................................
957,270
23,167,623
Metals
and
Mining
—
1.7%
82,000
Freeport-McMoRan
Inc.
............................
3,280,000
138,000
Newmont
Corp.
........................................
5,887,080
9,167,080
Publishing
—
0.0%
3,000
Value
Line
Inc.
.........................................
137,700
Real
Estate
Investment
Trusts
—
0.4%
62,000
Weyerhaeuser
Co.
....................................
2,077,620
Retail
—
4.7%
14,000
Cie
Financiere
Richemont
SA,
Cl. A
...........
2,372,046
42,000
Copart
Inc.†
.............................................
3,830,820
6,200
Costco
Wholesale
Corp.
............................
3,337,956
86,100
CVS
Health
Corp.
......................................
5,952,093
44,600
Ingles
Markets
Inc.,
Cl. A
..........................
3,686,190
63,000
Seven
&
i
Holdings
Co.
Ltd.
......................
2,709,138
3,000
The
Home
Depot
Inc.
................................
931,920
80,000
Walgreens
Boots
Alliance
Inc.
...................
2,279,200
1,000
Walmart
Inc.
............................................
157,180
25,256,543
Specialty
Chemicals
—
0.9%
2,700
Albemarle
Corp.
.......................................
602,343
2,500
Ashland
Inc.
.............................................
217,275
2,200
FMC
Corp.
................................................
229,548
43,000
H.B.
Fuller
Co.
..........................................
3,074,930
2,000
NewMarket
Corp.
.....................................
804,240
600
Quaker
Chemical
Corp.
.............................
116,940
5,045,276
Telecommunications
—
3.5%
105,000
BCE
Inc.
...................................................
4,786,950
190,000
Deutsche
Telekom
AG,
ADR
......................
4,151,500
14,000
Orange
SA,
ADR
.......................................
162,960
65,000
Telefonica
SA,
ADR
...................................
261,950
250,000
Telephone
and
Data
Systems
Inc.
..............
2,057,500
94,000
TELUS
Corp.
............................................
1,829,240
156,000
Verizon
Communications
Inc.
...................
5,801,640
19,051,740
Transportation
—
2.3%
97,000
GATX
Corp.
..............................................
12,487,780
Wireless
Communications
—
0.1%
80,000
BT
Group
plc,
Cl. A
...................................
124,308
40,000
Telesat
Corp.,
New
York†
..........................
376,800
20,000
Turkcell
Iletisim
Hizmetleri
A/S,
ADR
.........
71,400
572,508
TOTAL
COMMON
STOCKS
..................
526,074,541
4
The
Gabelli
Equity
Income
Fund
Schedule
of
Investments
(Continued)
—
June
30,
2023
(Unaudited)
Shares
Market
Value
WARRANTS
—
0.0%
Retail
—
0.0%
28,000
Cie
Financiere
Richemont
SA,
expire
11/22/23†
.............................................
$
38,635
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
3.1%
$
17,175,000
U.S.
Treasury
Bills,
4.961%
to
5.313%††,
08/17/23
to
11/16/23
............................
17,004,470
TOTAL
INVESTMENTS
—
100.0%
(Cost
$211,866,234)
.............................
$
543,117,646
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt