1
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
98
.8
%
Aerospace
—
0
.1
%
30,500
Allient
Inc.
................................................
$
921,405
40,000
Innovative
Solutions
and
Support
Inc.
†
.....
341,200
7,000
Kratos
Defense
&
Security
Solutions
Inc.
†
142,030
1,404,635
Agriculture
—
0
.1
%
10,000
Cadiz
Inc.
†
...............................................
28,000
56,000
Limoneira
Co.
...........................................
1,155,280
1,183,280
Automotive
—
0
.3
%
430,000
Iveco
Group
NV
†
......................................
3,866,894
65,000
The
Shyft
Group
Inc.
................................
794,300
4,661,194
Automotive:
Parts
and
Accessories
—
4
.3
%
147,500
BorgWarner
Inc.
.......................................
5,287,875
840,000
Brembo
SpA
.............................................
10,293,230
94,022
China
Automotive
Systems
Inc.
†
...............
303,691
74,100
Commercial
Vehicle
Group
Inc.
†
...............
519,441
1,115,000
Dana
Inc.
.................................................
16,290,150
320,000
Modine
Manufacturing
Co.
†
......................
19,104,000
46,000
Monro
Inc.
...............................................
1,349,640
4,300
O'Reilly
Automotive
Inc.
†
.........................
4,085,344
45,000
Puradyn
Filter
Technologies
Inc.
†
..............
0
180,000
Standard
Motor
Products
Inc.
...................
7,165,800
253,000
Strattec
Security
Corp.
†
(a)
.......................
6,352,830
18,400
Thor
Industries
Inc.
..................................
2,175,800
72,927,801
Aviation:
Parts
and
Services
—
2
.3
%
20,000
AAR
Corp.
†
..............................................
1,248,000
9,500
Astronics
Corp.
†
......................................
165,490
23,200
Astronics
Corp.
,
Cl. B
†
.............................
404,608
48,000
Ducommun
Inc.
†
.....................................
2,498,880
670,500
Kaman
Corp.
............................................
16,058,475
89,000
Moog
Inc.
,
Cl. A
.......................................
12,885,420
18,000
Moog
Inc.
,
Cl. B
.......................................
2,662,200
20,000
Woodward
Inc.
.........................................
2,722,600
38,645,673
Broadcasting
—
1
.3
%
150,000
Beasley
Broadcast
Group
Inc.
,
Cl. A
†
........
131,700
10,000
Cogeco
Communications
Inc.
...................
447,908
24,000
Cogeco
Inc.
..............................................
1,035,493
200,000
Corus
Entertainment
Inc.
,
Cl. B
.................
107,166
39,500
Fox
Corp.
,
Cl. A
........................................
1,171,965
25,000
Gray
Television
Inc.
..................................
224,000
71,700
Gray
Television
Inc.
,
Cl. A
.........................
614,132
450,000
Grupo
Televisa
SAB
,
ADR
.........................
1,503,000
280,000
ITV
plc
.....................................................
225,848
13,000
Liberty
Broadband
Corp.
,
Cl. A
†
................
1,048,320
11,000
Liberty
Broadband
Corp.
,
Cl. C
†
................
886,490
Shares
Market
Value
20,000
Liberty
Media
Corp.-Liberty
Formula
One
,
Cl. A
†
...................................................
$
1,159,600
27,000
Liberty
Media
Corp.-Liberty
Formula
One
,
Cl. C
†
...................................................
1,704,510
34,452
Liberty
Media
Corp.-Liberty
SiriusXM
†
......
991,528
64,000
Liberty
Media
Corp.-Liberty
SiriusXM
,
Cl. A
†
...................................................
1,839,360
22,000
Nexstar
Media
Group
Inc.
.........................
3,448,500
100,000
Salem
Media
Group
Inc.
†
.........................
39,000
480,000
Sirius
XM
Holdings
Inc.
............................
2,625,600
93,000
Sphere
Entertainment
Co.
†
.......................
3,158,280
22,362,400
Building
and
Construction
—
7
.2
%
78,200
Arcosa
Inc.
...............................................
6,462,448
200,000
Armstrong
Flooring
Inc.
†
..........................
20
34,000
D.R.
Horton
Inc.
.......................................
5,167,320
30,000
Gibraltar
Industries
Inc.
†
..........................
2,369,400
218,700
Herc
Holdings
Inc.
....................................
32,562,243
80,000
KB
Home
.................................................
4,996,800
3,000
Legacy
Housing
Corp.
†
............................
75,660
352,600
Lennar
Corp.
,
Cl. B
...................................
47,266,030
64,000
MDC
Holdings
Inc.
...................................
3,536,000
1,300
Meritage
Homes
Corp.
..............................
226,460
1,210
NVR
Inc.
†
................................................
8,470,545
47,400
PulteGroup
Inc.
........................................
4,892,628
400
The
Monarch
Cement
Co.
.........................
63,800
90,000
Titan
Machinery
Inc.
†
...............................
2,599,200
36,500
Toll
Brothers
Inc.
......................................
3,751,835
122,440,389
Business
Services
—
2
.2
%
13,000
ACCO
Brands
Corp.
..................................
79,040
500,000
Clear
Channel
Outdoor
Holdings
Inc.
†
.......
910,000
60,000
Element
Solutions
Inc.
..............................
1,388,400
35,500
Live
Nation
Entertainment
Inc.
†
................
3,322,800
40,000
Loomis
AB
...............................................
1,061,268
92,340
Madison
Square
Garden
Entertainment
Corp.
†
..................................................
2,935,488
15,000
McGrath
RentCorp
...................................
1,794,300
31,000
Outfront
Media
Inc.
,
REIT
.........................
432,760
20,000
Sealed
Air
Corp.
.......................................
730,400
345,000
Sohgo
Security
Services
Co.
Ltd.
..............
1,984,851
1,500
Team
Inc.
†
...............................................
9,900
66,000
The
Interpublic
Group
of
Companies
Inc.
..
2,154,240
25,000
TransAct
Technologies
Inc.
†
.....................
174,500
1,600,000
Trans-Lux
Corp.
†
(a)
.................................
1,280,000
34,000
United
Rentals
Inc.
...................................
19,496,280
37,754,227
Cable
—
0
.1
%
54,500
AMC
Networks
Inc.
,
Cl. A
†
........................
1,024,055
60,000
EchoStar
Corp.
,
Cl. A
†
..............................
994,200
2
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Cable
(Continued)
90,000
WideOpenWest
Inc.
†
................................
$
364,500
2,382,755
Communications
Equipment
—
0
.1
%
150,000
Telesat
Corp.
†
..........................................
1,564,500
Computer
Software
and
Services
—
1
.3
%
370,000
Alithya
Group
Inc.
,
Cl. A
†
..........................
484,700
1,300
GSE
Systems
Inc.
†
...................................
2,665
10,000
I3
Verticals
Inc.
,
Cl. A
†
.............................
211,700
11,000
MKS
Instruments
Inc.
...............................
1,131,570
24,500
Rockwell
Automation
Inc.
.........................
7,606,760
31,000
Tyler
Technologies
Inc.
†
...........................
12,961,720
22,399,115
Consumer
Products
—
1
.4
%
135,000
1-800-Flowers.com
Inc.
,
Cl. A
†
.................
1,455,300
67,000
Brunswick
Corp.
.......................................
6,482,250
32,000
Chofu
Seisakusho
Co.
Ltd.
........................
461,617
39,700
Church
&
Dwight
Co.
Inc.
.........................
3,754,032
38,000
Energizer
Holdings
Inc.
.............................
1,203,840
2,000
Harley-Davidson
Inc.
................................
73,680
2,500
Kobayashi
Pharmaceutical
Co.
Ltd.
...........
120,390
3,200
LCI
Industries
..........................................
402,272
216,000
Marine
Products
Corp.
..............................
2,462,400
5,500
National
Presto
Industries
Inc.
..................
441,540
225,000
Sally
Beauty
Holdings
Inc.
†
......................
2,988,000
215,000
Samick
Musical
Instruments
Co.
Ltd.
........
181,963
3,700
Shimano
Inc.
............................................
572,975
9,500
Steven
Madden
Ltd.
..................................
399,000
12,000
The
Scotts
Miracle-Gro
Co.
.......................
765,000
9,500
WD-40
Co.
...............................................
2,271,165
84,000
Wolverine
World
Wide
Inc.
.......................
746,760
24,782,184
Consumer
Services
—
0
.9
%
53,000
Bowlin
Travel
Centers
Inc.
†
.......................
226,310
16,000
H&E
Equipment
Services
Inc.
...................
837,120
5,000
IAC
Inc.
†
..................................................
261,900
180,000
OPENLANE
Inc.
†
......................................
2,665,800
277,500
Rollins
Inc.
...............................................
12,118,425
16,109,555
Diversified
Industrial
—
12
.8
%
10,000
Acuity
Brands
Inc.
....................................
2,048,300
51,000
Albany
International
Corp.
,
Cl. A
................
5,009,220
195,000
Ampco-Pittsburgh
Corp.
†
.........................
532,350
66,000
Burnham
Holdings
Inc.
,
Cl. A
....................
775,500
355,000
Crane
Co.
.................................................
41,939,700
200,000
Crane
NXT
Co.
..........................................
11,374,000
99,000
Distribution
Solutions
Group
Inc.
†
............
3,124,440
5,000
Enerpac
Tool
Group
Corp.
.........................
155,450
83,500
Enpro
Inc.
................................................
13,087,790
Shares
Market
Value
103,500
Greif
Inc.
,
Cl. A
.........................................
$
6,788,565
93,500
Greif
Inc.
,
Cl. B
.........................................
6,171,935
310,000
Griffon
Corp.
............................................
18,894,500
32,000
Hyster-Yale
Materials
Handling
Inc.
...........
1,990,080
159,500
INNOVATE
Corp.
†
.....................................
196,185
6,000
JSP
Corp.
................................................
77,957
116,000
L.B.
Foster
Co.
,
Cl. A
†
...............................
2,550,840
40,000
Lincoln
Electric
Holdings
Inc.
....................
8,698,400
31,200
Lindsay
Corp.
...........................................
4,029,792
37,500
Matthews
International
Corp.
,
Cl. A
...........
1,374,375
915,000
Myers
Industries
Inc.
................................
17,888,250
70,000
Oil-Dri
Corp.
of
America
............................
4,695,600
13,000
Olin
Corp.
................................................
701,350
323,000
Park-Ohio
Holdings
Corp.
.........................
8,708,080
12,500
Pentair
plc
................................................
908,875
14,000
Roper
Technologies
Inc.
...........................
7,632,380
53,200
Sonoco
Products
Co.
................................
2,972,284
48,900
Standex
International
Corp.
.......................
7,744,782
84,500
Steel
Partners
Holdings
LP
†
.....................
3,380,000
13,000
T.
Hasegawa
Co.
Ltd.
................................
286,277
7,000
Terex
Corp.
..............................................
402,220
335,500
Textron
Inc.
..............................................
26,980,910
467,000
Tredegar
Corp.
.........................................
2,526,470
221,000
Trinity
Industries
Inc.
................................
5,876,390
219,523,247
Electronics
—
3
.2
%
110,000
Badger
Meter
Inc.
.....................................
16,980,700
206,000
Bel
Fuse
Inc.
,
Cl. A
(a)
...............................
13,208,720
400,000
CTS
Corp.
................................................
17,496,000
60,000
Daktronics
Inc.
†
.......................................
508,800
120,000
Gentex
Corp.
............................................
3,919,200
20,000
IMAX
Corp.
†
............................................
300,400
30,000
Renesas
Electronics
Corp.
†
......................
542,340
60,000
Stoneridge
Inc.
†
.......................................
1,174,200
54,130,360
Energy
and
Utilities
—
2
.4
%
7,200
Avangrid
Inc.
............................................
233,352
25,000
Callon
Petroleum
Co.
†
..............................
810,000
9,800
Chesapeake
Utilities
Corp.
........................
1,035,174
35,000
CMS
Energy
Corp.
....................................
2,032,450
20,000
Consolidated
Water
Co.
Ltd.
......................
712,000
36,800
Diamondback
Energy
Inc.
.........................
5,706,944
121,000
Dril-Quip
Inc.
†
..........................................
2,815,670
74,000
Energy
Recovery
Inc.
†
..............................
1,394,160
29,000
Landis+Gyr
Group
AG
...............................
2,620,534
22,000
Marathon
Petroleum
Corp.
........................
3,263,920
3,500
Middlesex
Water
Co.
.................................
229,670
13,000
Northwest
Natural
Holding
Co.
..................
506,220
21,500
Northwestern
Energy
Group
Inc.
...............
1,094,135
10,000
Otter
Tail
Corp.
.........................................
849,700
1,680,000
RPC
Inc.
..................................................
12,230,400
3
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Energy
and
Utilities
(Continued)
8,000
SJW
Group
..............................................
$
522,800
32,000
Southwest
Gas
Holdings
Inc.
....................
2,027,200
6,800
Spire
Inc.
.................................................
423,912
31,000
The
York
Water
Co.
...................................
1,197,220
55,000
Vestas
Wind
Systems
A/S
†
.......................
1,745,450
41,450,911
Entertainment
—
2
.1
%
165,000
Atlanta
Braves
Holdings
Inc.
,
Cl. A
†
..........
7,058,700
210,000
Atlanta
Braves
Holdings
Inc.
,
Cl. C
†
..........
8,311,800
85,000
Inspired
Entertainment
Inc.
†
.....................
839,800
16,856
Liberty
Media
Corp.-Liberty
Live
,
Cl. A
†
....
616,087
9,768
Liberty
Media
Corp.-Liberty
Live
,
Cl. C
†
....
365,225
35,000
Madison
Square
Garden
Sports
Corp.
†
.....
6,364,050
66,000
Manchester
United
plc
,
Cl. A
†
...................
1,345,080
273,000
Sinclair
Inc.
..............................................
3,557,190
7,800
Take-Two
Interactive
Software
Inc.
†
..........
1,255,410
3,500
The
Walt
Disney
Co.
.................................
316,015
47,700
TKO
Group
Holdings
Inc.
..........................
3,891,366
35,000
Universal
Entertainment
Corp.
...................
570,922
104,000
Warner
Bros
Discovery
Inc.
†
....................
1,183,520
35,675,165
Environmental
Services
—
0
.6
%
59,000
Republic
Services
Inc.
..............................
9,729,690
Equipment
and
Supplies
—
18
.7
%
17,200
A.O.
Smith
Corp.
......................................
1,417,968
387,600
AMETEK
Inc.
............................................
63,911,364
56,000
AZZ
Inc.
...................................................
3,253,040
9,200
Chart
Industries
Inc.
†
...............................
1,254,236
312,700
Core
Molding
Technologies
Inc.
†
..............
5,794,331
92,000
Crown
Holdings
Inc.
.................................
8,472,280
2,025
Danaher
Corp.
..........................................
468,464
100,000
Donaldson
Co.
Inc.
...................................
6,535,000
38,700
Entegris
Inc.
.............................................
4,637,034
188,000
Federal
Signal
Corp.
.................................
14,427,120
241,000
Flowserve
Corp.
.......................................
9,934,020
152,500
Franklin
Electric
Co.
Inc.
...........................
14,739,125
419,800
Graco
Inc.
................................................
36,421,848
33,000
IDEX
Corp.
...............................................
7,164,630
125,000
Interpump
Group
SpA
..............................
6,467,767
6,800
Littelfuse
Inc.
...........................................
1,819,408
110,000
Maezawa
Kyuso
Industries
Co.
Ltd.
...........
1,033,688
65,000
Minerals
Technologies
Inc.
.......................
4,635,150
6,000
MSA
Safety
Inc.
.......................................
1,012,980
980,000
Mueller
Industries
Inc.
..............................
46,207,000
335,000
Mueller
Water
Products
Inc.
,
Cl. A
.............
4,824,000
3,500
Teleflex
Inc.
..............................................
872,690
167,000
Tennant
Co.
..............................................
15,479,230
740,000
The
Gorman-Rupp
Co.
..............................
26,292,200
97,000
The
Greenbrier
Companies
Inc.
.................
4,285,460
Shares
Market
Value
136,573
The
L.S.
Starrett
Co.
,
Cl. A
†
......................
$
1,652,533
50,500
The
Manitowoc
Co.
Inc.
†
..........................
842,845
50,000
The
Middleby
Corp.
†
................................
7,358,500
36,000
The
Timken
Co.
........................................
2,885,400
30,000
The
Toro
Co.
............................................
2,879,700
6,000
Valmont
Industries
Inc.
.............................
1,401,060
7,875
Watsco
Inc.
,
Cl. B
.....................................
3,391,132
43,500
Watts
Water
Technologies
Inc.
,
Cl. A
.........
9,062,790
320,833,993
Financial
Services
—
5
.5
%
7,000
Ameris
Bancorp
.......................................
371,350
12,000
Capitol
Federal
Financial
Inc.
.....................
77,400
20,700
Crazy
Woman
Creek
Bancorp
Inc.
.............
475,065
40,000
Eagle
Bancorp
Inc.
...................................
1,205,600
325,000
Energy
Transfer
LP
...................................
4,485,000
220
Farmers
&
Merchants
Bank
of
Long
Beach
1,127,720
350,000
Flushing
Financial
Corp.
............................
5,768,000
66,000
FNB
Corp.
................................................
908,820
100,000
GAM
Holding
AG
†
....................................
46,549
25,000
Hanover
Bancorp
Inc.
...............................
441,000
270,000
Hope
Bancorp
Inc.
....................................
3,261,600
410,000
Huntington
Bancshares
Inc.
......................
5,215,200
673,000
KKR
&
Co.
Inc.
.........................................
55,758,050
80,000
Medallion
Financial
Corp.
..........................
788,000
8,000
PROG
Holdings
Inc.
†
................................
247,280
54,000
Sandy
Spring
Bancorp
Inc.
.......................
1,470,960
47,000
Synovus
Financial
Corp.
...........................
1,769,550
16,000
TFS
Financial
Corp.
...................................
235,040
15,000
Thomasville
Bancshares
Inc.
.....................
930,000
230,000
Valley
National
Bancorp
............................
2,497,800
34,308
Value
Line
Inc.
.........................................
1,672,515
10,000
Waterloo
Investment
Holdings
Ltd.
†
(b)
.....
5,000
113,000
Webster
Financial
Corp.
............................
5,735,880
133,000
Wright
Investors'
Service
Holdings
Inc.
†
...
19,950
94,513,329
Food
and
Beverage
—
5
.2
%
424,500
Arca
Continental
SAB
de
CV
......................
4,641,727
14,000
BellRing
Brands
Inc.
†
...............................
776,020
75,000
Brown-Forman
Corp.
,
Cl. A
.......................
4,469,250
40,000
Bull-Dog
Sauce
Co.
Ltd.
............................
609,929
90,000
China
Tontine
Wines
Group
Ltd.
†
..............
9,336
269,200
Crimson
Wine
Group
Ltd.
†
.......................
1,587,203
220,000
Denny's
Corp.
†
........................................
2,393,600
500,000
Dynasty
Fine
Wines
Group
Ltd.
†
...............
26,894
98,000
Farmer
Brothers
Co.
†
...............................
299,880
400,000
Flowers
Foods
Inc.
...................................
9,004,000
114,000
ITO
EN
Ltd.
..............................................
3,462,043
46,000
Iwatsuka
Confectionery
Co.
Ltd.
................
1,650,780
23,000
J
&
J
Snack
Foods
Corp.
..........................
3,844,220
100,000
Kameda
Seika
Co.
Ltd.
..............................
2,911,347
240,000
Kikkoman
Corp.
........................................
14,696,170
4
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
635,000
Maple
Leaf
Foods
Inc.
..............................
$
12,095,694
12,000
MEIJI
Holdings
Co.
Ltd.
............................
285,021
8,000
MGP
Ingredients
Inc.
................................
788,160
124,000
Morinaga
Milk
Industry
Co.
Ltd.
................
2,399,092
7,500
National
Beverage
Corp.
†
.........................
372,900
130,500
Nissin
Foods
Holdings
Co.
Ltd.
.................
4,554,543
13,000
Post
Holdings
Inc.
†
..................................
1,144,780
60,000
Rock
Field
Co.
Ltd.
...................................
686,383
3,000
The
Boston
Beer
Co.
Inc.
,
Cl. A
†
...............
1,036,770
70,000
The
Hain
Celestial
Group
Inc.
†
..................
766,500
56,700
The
J.M.
Smucker
Co.
..............................
7,165,746
625,000
Tingyi
(Cayman
Islands)
Holding
Corp.
.....
761,990
32,500
Tootsie
Roll
Industries
Inc.
.......................
1,080,300
370,000
Vina
Concha
y
Toro
SA
.............................
435,763
950,000
Vitasoy
International
Holdings
Ltd.
............
946,533
20,000
Willamette
Valley
Vineyards
Inc.
†
..............
106,000
200,000
Yakult
Honsha
Co.
Ltd.
.............................
4,492,199
89,500,773
Health
Care
—
3
.3
%
1,400
Align
Technology
Inc.
†
.............................
383,600
6,700
Bio-Rad
Laboratories
Inc.
,
Cl.��A
†
..............
2,163,363
13,300
Bruker
Corp.
............................................
977,284
600
Chemed
Corp.
..........................................
350,850
21,000
CONMED
Corp.
........................................
2,299,710
372,000
Cutera
Inc.
†
.............................................
1,311,300
50,000
Dexcom
Inc.
†
...........................................
6,204,500
15,000
Evolent
Health
Inc.
,
Cl. A
†
.........................
495,450
216,000
Globus
Medical
Inc.
,
Cl. A
†
.......................
11,510,640
70,000
Henry
Schein
Inc.
†
...................................
5,299,700
28,000
ICU
Medical
Inc.
†
.....................................
2,792,720
33,000
Masimo
Corp.
†
........................................
3,867,930
45,000
Neogen
Corp.
†
.........................................
904,950
4,000
NeoGenomics
Inc.
†
..................................
64,720
20,000
Neuronetics
Inc.
†
.....................................
58,000
181,000
OPKO
Health
Inc.
†
....................................
273,310
130,000
Orthofix
Medical
Inc.
†
..............................
1,752,400
4,000
Patterson
Cos.
Inc.
...................................
113,800
70,500
QuidelOrtho
Corp.
†
...................................
5,195,850
24,000
Seikagaku
Corp.
.......................................
129,532
22,800
STERIS
plc
...............................................
5,012,580
19,000
Straumann
Holding
AG
.............................
3,063,314
3,000
Stryker
Corp.
............................................
898,380
30,000
SurModics
Inc.
†
.......................................
1,090,500
16,700
Teladoc
Health
Inc.
†
.................................
359,885
100
The
Cooper
Companies
Inc.
......................
37,844
38,000
United-Guardian
Inc.
................................
273,600
56,885,712
Home
Furnishings
—
0
.3
%
161,500
Bassett
Furniture
Industries
Inc.
...............
2,680,900
Shares
Market
Value
5,000
Ethan
Allen
Interiors
Inc.
..........................
$
159,600
65,000
La-Z-Boy
Inc.
...........................................
2,399,800
5,240,300
Hotels
and
Gaming
—
4
.2
%
50,000
Boyd
Gaming
Corp.
..................................
3,130,500
190,000
Canterbury
Park
Holding
Corp.
.................
3,883,600
139,000
Churchill
Downs
Inc.
................................
18,755,270
120,000
Formosa
International
Hotels
Corp.
†
.........
866,066
530,000
Full
House
Resorts
Inc.
†
...........................
2,846,100
48,000
Gaming
and
Leisure
Properties
Inc.
,
REIT
.
2,368,800
750,000
Genting
Singapore
Ltd.
.............................
568,290
120,000
Golden
Entertainment
Inc.
........................
4,791,600
2,250,000
Mandarin
Oriental
International
Ltd.
..........
3,510,000
3,000
Penn
Entertainment
Inc.
†
.........................
78,060
237,000
Ryman
Hospitality
Properties
Inc.
,
REIT
....
26,084,220
2,500,000
The
Hongkong
&
Shanghai
Hotels
Ltd.
†
....
1,869,757
139,000
The
Marcus
Corp.
.....................................
2,026,620
13,000
Wynn
Resorts
Ltd.
...................................
1,184,430
71,963,313
Machinery
—
2
.3
%
326,000
Astec
Industries
Inc.
.................................
12,127,200
1,415,000
CNH
Industrial
NV
....................................
17,234,700
100,000
Kennametal
Inc.
.......................................
2,579,000
4,700
Nordson
Corp.
.........................................
1,241,552
160,000
The
Eastern
Co.
........................................
3,520,000
142,000
Twin
Disc
Inc.
...........................................
2,294,720
38,997,172
Manufactured
Housing
and
Recreational
Vehicles
—
2
.0
%
61,800
Cavco
Industries
Inc.
†
..............................
21,421,116
72,500
Nobility
Homes
Inc.
..................................
2,500,887
81,200
Skyline
Champion
Corp.
†
.........................
6,029,912
51,500
Winnebago
Industries
Inc.
........................
3,753,320
33,705,235
Metals
and
Mining
—
0
.1
%
45,000
Ivanhoe
Mines
Ltd.
,
Cl. A
†
........................
436,399
95,000
Kinross
Gold
Corp.
...................................
574,750
50,000
Sierra
Metals
Inc.
†
...................................
27,680
1,038,829
Publishing
—
0
.5
%
2,550
Graham
Holdings
Co.
,
Cl. B
.......................
1,776,126
4,500
John
Wiley
&
Sons
Inc.
,
Cl. B
...................
144,720
34,000
News
Corp.
,
Cl. A
.....................................
834,700
775,000
The
E.W.
Scripps
Co.
,
Cl. A
†
.....................
6,192,250
8,947,796
Real
Estate
—
2
.0
%
80,000
Capital
Properties
Inc.
,
Cl. A
.....................
958,000
10,000
Gyrodyne
LLC
†
........................................
94,750
18,000
Lamar
Advertising
Co.
,
Cl. A,
REIT
............
1,913,040
89,500
Morguard
Corp.
........................................
7,158,379
5
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Real
Estate
(Continued)
25,000
Reading
International
Inc.
,
Cl. A
†
..............
$
47,750
4,000
Reading
International
Inc.
,
Cl. B
†
..............
56,320
35,000
Seritage
Growth
Properties
,
Cl. A
†
............
327,250
130,200
Tejon
Ranch
Co.
†
.....................................
2,239,440
362,500
The
St.
Joe
Co.
.........................................
21,815,250
135,000
Trinity
Place
Holdings
Inc.
†
......................
14,985
34,625,164
Retail
—
6
.4
%
111,000
AutoNation
Inc.
†
......................................
16,669,980
100,000
Big
5
Sporting
Goods
Corp.
......................
634,000
900
Biglari
Holdings
Inc.
,
Cl. A
†
......................
714,537
301,000
Copart
Inc.
†
.............................................
14,749,000
20,000
Hertz
Global
Holdings
Inc.
†
......................
207,800
200,000
Ingles
Markets
Inc.
,
Cl. A
..........................
17,274,000
52,000
Lands'
End
Inc.
†
......................................
497,120
70,000
Movado
Group
Inc.
...................................
2,110,500
157,000
Nathan's
Famous
Inc.
...............................
12,247,570
69,000
Penske
Automotive
Group
Inc.
..................
11,075,190
85,000
Pets
at
Home
Group
plc
............................
344,755
482,000
Rush
Enterprises
Inc.
,
Cl. B
......................
25,536,360
12,500
Salvatore
Ferragamo
SpA
.........................
168,490
10,000
The
Cheesecake
Factory
Inc.
.....................
350,100
26,000
Tractor
Supply
Co.
....................................
5,590,780
60,000
Village
Super
Market
Inc.
,
Cl. A
.................
1,573,800
6,700
Vroom
Inc.
†
.............................................
4,037
500
Winmark
Corp.
.........................................
208,775
109,956,794
Specialty
Chemicals
—
2
.1
%
3,200
Albemarle
Corp.
.......................................
462,336
28,000
Ashland
Inc.
.............................................
2,360,680
242,000
H.B.
Fuller
Co.
..........................................
19,701,220
37,500
Hawkins
Inc.
............................................
2,640,750
25,000
Huntsman
Corp.
.......................................
628,250
5,600
NewMarket
Corp.
.....................................
3,056,648
8,400
Quaker
Chemical
Corp.
.............................
1,792,728
1,500
Rogers
Corp.
†
..........................................
198,105
24,400
Sensient
Technologies
Corp.
.....................
1,610,400
2,500
Takasago
International
Corp.
.....................
61,879
91,200
The
General
Chemical
Group
Inc.
†
(b)
........
0
80,000
Valvoline
Inc.
†
..........................................
3,006,400
35,519,396
Telecommunications
—
0
.8
%
15,000
Consolidated
Communications
Holdings
Inc.
†
.....................................................
65,250
61,000
Gogo
Inc.
†
...............................................
617,930
3,500
IDT
Corp.
,
Cl. B
†
......................................
119,315
146,000
Liberty
Global
Ltd.
,
Cl. A
†
.........................
2,594,420
136,000
Liberty
Global
Ltd.
,
Cl. C
†
.........................
2,535,040
85,100
Nuvera
Communications
Inc.
....................
855,255
Shares
Market
Value
82,000
Rogers
Communications
Inc.
,
Cl. B
...........
$
3,838,420
108,000
Shenandoah
Telecommunications
Co.
.......
2,334,960
28,000
Telephone
and
Data
Systems
Inc.
..............
513,800
35,000
VEON
Ltd.
,
ADR
†
.....................................
689,500
14,163,890
Transportation
—
2
.6
%
346,000
GATX
Corp.
..............................................
41,596,120
18,600
Irish
Continental
Group
plc
.......................
88,910
124,000
Navigator
Holdings
Ltd.
............................
1,804,200
50,057
Steel
Connect
Inc.
†
..................................
476,543
43,965,773
Wireless
Communications
—
0
.1
%
49,500
United
States
Cellular
Corp.
†
....................
2,056,230
TOTAL
COMMON
STOCKS
........................
1,691,040,780
CLOSED-END
FUNDS
—
0
.1
%
42,500
The
Central
Europe,
Russia,
and
Turkey
Fund
Inc.
..............................................
414,375
32,229
The
European
Equity
Fund
Inc.
..................
279,103
111,000
The
New
Germany
Fund
Inc.
.....................
970,140
TOTAL
CLOSED-END
FUNDS
....................
1,663,618
PREFERRED
STOCKS
—
0
.2
%
Automotive:
Parts
and
Accessories
—
0
.2
%
82,500
Jungheinrich
AG
.......................................
3,025,540
RIGHTS
—
0.0
%
Communications
Equipment
—
0.0
%
60,500
Pineapple
Energy
Inc.
,
CVR
†
.....................
63,840
WARRANTS
—
0.0
%
Business
Services
—
0.0
%
1
Internap
Corp.
,
expire
05/08/24
†
(b)
..........
652
Diversified
Industrial
—
0.0
%
140,000
Ampco-Pittsburgh
Corp.
,
expire
08/01/25
†
16,800
TOTAL
WARRANTS
..................................
17,452
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
0
.5
%
$
8,830,000
U.S.
Treasury
Bills,
5.244
%
to
5.335
%
††
,
01/16/24
to
03/28/24
............................
8,742,441
TOTAL
MISCELLANEOUS
INVESTMENTS
—
0
.4
%
(c)
...........................................
7,796,945
TOTAL
INVESTMENTS
—
100.0%
(Cost
$
450,422,232
)
.............................
$
1,712,350,616
6
The
Gabelli
Small
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
—
December
31,
2023
(Unaudited)
(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
undisclosed,
unrestricted
securities
which
the
Fund
has
held
for
less
than
one
year.
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Right
REIT
Real
Estate
Investment
Trust