1
The
Gabelli
Global
Financial
Services
Fund
Schedule
of
Investments
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
97.2%
Automobiles
—
6.4%
23,349
Daimler
Truck
Holding
AG
.........................
$
876,904
7,450
Mercedes-Benz
Group
AG
.........................
514,438
3,770
Toyota
Motor
Corp.,
ADR
..........................
691,342
2,082,684
Banks
—
25.8%
82,500
Banco
Bilbao
Vizcaya
Argentaria
SA
..........
749,190
82,000
Commerzbank
AG
....................................
974,037
870,100
Dah
Sing
Banking
Group
Ltd.
....................
561,607
356,500
Dah
Sing
Financial
Holdings
Ltd.
...............
730,486
936
First
Citizens
BancShares
Inc.,
Cl. A
..........
1,328,156
54,663
Flushing
Financial
Corp.
............................
900,846
34,000
ING
Groep
NV
..........................................
507,689
48,900
Japan
Post
Bank
Co.
Ltd.
..........................
498,017
13,900
Shinhan
Financial
Group
Co.
Ltd.,
ADR
.....
427,842
9,043
Southern
First
Bancshares
Inc.†
...............
335,495
32,547
TrustCo
Bank
Corp.
NY
.............................
1,010,585
6,200
Webster
Financial
Corp.
............................
314,712
8,338,662
Consumer
Finance
—
6.5%
21,580
Ally
Financial
Inc.
.....................................
753,574
10,310
Capital
One
Financial
Corp.
.......................
1,351,847
2,105,421
Diversified
Banks
—
12.6%
111,000
Barclays
plc
..............................................
217,577
19,350
Citigroup
Inc.
...........................................
995,364
29,920
Credit
Agricole
SA
....................................
424,504
16,168
Hana
Financial
Group
Inc.
.........................
544,834
129,285
NatWest
Group
plc
...................................
361,556
7,610
Societe
Generale
SA
.................................
201,835
88,900
Standard
Chartered
plc
.............................
755,367
20,700
UniCredit
SpA
..........................................
561,354
4,062,391
Energy
and
Utilities
—
2.7%
40,572
Vitesse
Energy
Inc.
...................................
888,121
Homebuilders
—
5.6%
3,010
Cavco
Industries
Inc.†
..............................
1,043,326
30,413
Legacy
Housing
Corp.†
............................
767,016
1,810,342
Institutional
Banking
—
3.4%
19,350
Moelis
&
Co.,
Cl. A
...................................
1,086,116
Institutional
Brokerage
—
5.6%
131,200
Daiwa
Securities
Group
Inc.
......................
883,134
23,310
Jefferies
Financial
Group
Inc.
....................
941,957
1,825,091
Institutional
Trust,
Fiduciary,
and
Custody
—
6.1%
9,930
State
Street
Corp.
.....................................
769,178
Shares
Market
Value
23,300
The
Bank
of
New
York
Mellon
Corp.
..........
$
1,212,765
1,981,943
Insurance
—
11.4%
139,118
Aegon
Ltd.
...............................................
805,984
1,377
E-L
Financial
Corp.
Ltd.
............................
1,089,316
12,502
First
American
Financial
Corp.
...................
805,629
60,250
HG
Holdings
Inc.†
....................................
351,559
16,055
NN
Group
NV
...........................................
633,630
3,686,118
Investment
Management
—
7.9%
3,857
Diamond
Hill
Investment
Group
Inc.
..........
638,681
11,000
Janus
Henderson
Group
plc
......................
331,650
229,100
The
Westaim
Corp.†
.................................
649,236
74,265
Westwood
Holdings
Group
Inc.
.................
933,511
2,553,078
Reinsurance
—
3.2%
18,800
Axis
Capital
Holdings
Ltd.
.........................
1,040,956
TOTAL
COMMON
STOCKS
..................
31,460,923
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
2.8%
$
925,000
U.S.
Treasury
Bills,
5.293%
to
5.382%††,
01/18/24
to
03/28/24
............................
916,917
TOTAL
INVESTMENTS
—
100.0%
(Cost
$24,686,679)
...............................
$
32,377,840
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt