1
The
Gabelli
Global
Financial
Services
Fund
Schedule
of
Investments
—
June
30,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
97.3%
Automobiles
—
7.2%
23,349
Daimler
Truck
Holding
AG
.........................
$
840,788
7,450
Mercedes-Benz
Group
AG
.........................
598,896
3,770
Toyota
Motor
Corp.,
ADR
..........................
606,028
2,045,712
Banks
—
24.3%
82,500
Banco
Bilbao
Vizcaya
Argentaria
SA
..........
633,049
82,000
Commerzbank
AG
....................................
908,206
516,000
Dah
Sing
Banking
Group
Ltd.
....................
383,905
191,900
Dah
Sing
Financial
Holdings
Ltd.
...............
479,505
936
First
Citizens
BancShares
Inc.,
Cl. A
..........
1,201,309
67,863
Flushing
Financial
Corp.
............................
834,036
34,000
ING
Groep
NV
..........................................
457,750
58,900
Japan
Post
Bank
Co.
Ltd.
..........................
458,807
17,150
Shinhan
Financial
Group
Co.
Ltd.,
ADR
.....
446,929
30,047
TrustCo
Bank
Corp.
NY
.............................
859,645
6,200
Webster
Financial
Corp.
............................
234,050
6,897,191
Consumer
Finance
—
5.9%
20,480
Ally
Financial
Inc.
.....................................
553,165
10,360
Capital
One
Financial
Corp.
.......................
1,133,073
1,686,238
Diversified
Banks
—
13.8%
85,000
Barclays
plc
..............................................
165,574
21,400
Citigroup
Inc.
...........................................
985,256
29,920
Credit
Agricole
SA
....................................
354,957
14,218
Hana
Financial
Group
Inc.
.........................
422,985
182,285
NatWest
Group
plc
...................................
557,457
6,410
Societe
Generale
SA
.................................
166,471
88,900
Standard
Chartered
plc
.............................
771,127
20,700
UniCredit
SpA
..........................................
480,330
3,904,157
Energy
and
Utilities
—
3.2%
40,572
Vitesse
Energy
Inc.
...................................
908,813
Homebuilders
—
5.6%
3,010
Cavco
Industries
Inc.†
..............................
887,950
30,413
Legacy
Housing
Corp.†
............................
705,278
1,593,228
Institutional
Banking
—
4.0%
24,850
Moelis
&
Co.,
Cl. A
...................................
1,126,699
Institutional
Brokerage
—
5.3%
140,000
Daiwa
Securities
Group
Inc.
......................
718,264
23,610
Jefferies
Financial
Group
Inc.
....................
783,144
1,501,408
Institutional
Trust,
Fiduciary,
and
Custody
—
5.9%
9,730
State
Street
Corp.
.....................................
712,041
Shares
Market
Value
21,800
The
Bank
of
New
York
Mellon
Corp.
..........
$
970,536
1,682,577
Insurance
—
11.9%
139,118
Aegon
NV
.................................................
702,860
1,317
E-L
Financial
Corp.
Ltd.
............................
921,030
11,350
First
American
Financial
Corp.
...................
647,177
56,350
HG
Holdings
Inc.†
....................................
403,466
19,079
NN
Group
NV
...........................................
705,972
3,380,505
Investment
Management
—
6.7%
3,170
Diamond
Hill
Investment
Group
Inc.
..........
543,021
221,600
The
Westaim
Corp.†
.................................
602,196
61,297
Westwood
Holdings
Group
Inc.
.................
760,083
1,905,300
Reinsurance
—
3.5%
18,500
Axis
Capital
Holdings
Ltd.
.........................
995,855
TOTAL
COMMON
STOCKS
..................
27,627,683
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
2.7%
$
768,000
U.S.
Treasury
Bills,
4.909%
to
5.253%††,
07/06/23
to
09/28/23
............................
761,613
TOTAL
INVESTMENTS
—
100.0%
(Cost
$24,050,859)
...............................
$
28,389,296
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt