The Gabelli International Small Cap Fund
Schedule of Investments — September 30, 2019 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS — 94.0% |
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CONSUMER DISCRETIONARY — 18.0% |
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5,555 | AcadeMedia AB†. | $ | 25,732 | |||||
6,150 | Aston Martin Lagonda Global Holdings plc† | 39,790 | ||||||
5,500 | Beneteau SA | 57,849 | ||||||
7,000 | Crest Nicholson Holdings plc | 32,620 | ||||||
10,000 | Gamesys Group plc† | 90,617 | ||||||
11,820 | GVC Holdings plc | 108,040 | ||||||
1,150 | Hunter Douglas NV | 74,705 | ||||||
2,200 | JINS Holdings Inc. | 130,423 | ||||||
20,000 | Luk Fook Holdings International Ltd. | 50,219 | ||||||
25,000 | Mandarin Oriental International Ltd. | 39,000 | ||||||
140,000 | NagaCorp. Ltd. | 218,993 | ||||||
9,000 | Scandic Hotels Group AB | 72,135 | ||||||
2,500 | Ted Baker plc | 29,786 | ||||||
2,000 | Tod’s SpA | 98,314 | ||||||
10,000 | Treatt plc | 49,919 | ||||||
50,000 | William Hill plc. | 115,362 | ||||||
10,000 | Zojirushi Corp. | 131,977 | ||||||
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1,365,481 | ||||||||
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CONSUMER STAPLES — 16.0% |
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800 | Danone SA | 70,472 | ||||||
30,000 | Hotel Chocolat Group plc. | 139,430 | ||||||
2,420 | Interparfums SA | 103,661 | ||||||
2,700 | Kameda Seika Co. Ltd. | 118,738 | ||||||
3,000 | Kato Sangyo Co. Ltd. | 92,948 | ||||||
1,200 | Laurent-Perrier Group | 116,930 | ||||||
3,000 | Milbon Co. Ltd. | 147,607 | ||||||
60 | Philip Morris CR AS. | 34,636 | ||||||
80,000 | Premier Foods plc† | 31,870 | ||||||
22,000 | PZ Cussons plc | 54,776 | ||||||
4,000 | Sakata Seed Corp. | 136,509 | ||||||
35,000 | Stock Spirits Group plc | 100,269 | ||||||
1,300 | Viscofan SA | 60,928 | ||||||
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1,208,774 | ||||||||
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MATERIALS — 13.5% |
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6,000 | Alamos Gold Inc., Cl. A. | 34,800 | ||||||
13,850 | Alamos Gold Inc., Toronto, Cl. A | 80,496 | ||||||
18,000 | B2Gold Corp.† | 58,558 | ||||||
20,000 | Centamin plc | 30,911 | ||||||
50 | Conzzeta AG | 43,535 | ||||||
3,000 | Detour Gold Corp.† | 44,043 | ||||||
3,000 | Endeavour Mining Corp.† | 57,335 | ||||||
12,000 | Hochschild Mining plc | 30,247 | ||||||
4,000 | JSP Corp. | 65,813 | ||||||
3,000 | Labrador Iron Ore Royalty Corp. | 55,772 | ||||||
4,000 | MAG Silver Corp.† | 42,510 | ||||||
30,000 | Northern Dynasty Minerals Ltd.† | 17,625 | ||||||
15,000 | OceanaGold Corp. | 39,174 | ||||||
4,000 | Osisko Gold Royalties Ltd. | 37,166 | ||||||
12,000 | Sekisui Plastics Co. Ltd. | 83,126 |
Shares | Market Value | |||||||
20,000 | SEMAFO Inc.† | $ | 64,158 | |||||
2,000 | Sumitomo Bakelite Co. Ltd. | 78,058 | ||||||
5,000 | T Hasegawa Co. Ltd. | 92,254 | ||||||
2,000 | Torex Gold Resources Inc.† | 24,788 | ||||||
25,000 | Westgold Resources Ltd.† | 42,184 | ||||||
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1,022,553 | ||||||||
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INDUSTRIALS — 12.9% |
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10,000 | Aida Engineering Ltd. | 80,740 | ||||||
15,000 | BBA Aviation plc | 57,580 | ||||||
40,000 | Chemring Group plc | 96,790 | ||||||
2,000 | Clarkson plc | 60,248 | ||||||
4,000 | Loomis AB, Cl. B | 140,593 | ||||||
2,500 | Nilfisk Holding A/S† | 57,957 | ||||||
20,000 | Rotork plc | 76,601 | ||||||
2,000 | Shima Seiki Manufacturing Ltd. | 45,817 | ||||||
10,000 | Sodick Co. Ltd. | 71,399 | ||||||
13,000 | Teraoka Seisakusho Co. Ltd. | 56,990 | ||||||
500 | Warehouses De Pauw CVA, REIT | 91,774 | ||||||
6,000 | Workspace Group plc, REIT | 71,006 | ||||||
8,000 | Yushin Precision Equipment Co. Ltd. | 69,697 | ||||||
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977,192 | ||||||||
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HEALTH CARE — 8.7% |
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3,428 | AddLife AB, Cl. B | 89,843 | ||||||
600 | Bachem Holding AG, Cl. B | 85,847 | ||||||
6,000 | CVS Group plc | 75,248 | ||||||
900 | Gerresheimer AG | 64,547 | ||||||
10,000 | IRRAS AB† | 30,475 | ||||||
25,000 | Nanosonics Ltd.† | 106,473 | ||||||
230 | Siegfried Holding AG | 90,451 | ||||||
1,300 | Vetoquinol SA | 83,316 | ||||||
250 | Ypsomed Holding AG | 32,263 | ||||||
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658,463 | ||||||||
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FINANCIALS — 8.2% |
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30,000 | Brewin Dolphin Holdings plc | 116,856 | ||||||
4,000 | Kinnevik AB, Cl. B | 105,201 | ||||||
14,000 | Polar Capital Holdings plc | 93,642 | ||||||
4,000 | Rothschild & Co. | 114,663 | ||||||
13,000 | Tamburi Investment Partners SpA | 87,992 | ||||||
120,000 | Value Partners Group Ltd. | 60,477 | ||||||
31,538 | XPS Pensions Group plc | 44,982 | ||||||
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623,813 | ||||||||
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COMMUNICATION SERVICES — 8.1% |
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1,100 | Akatsuki Inc. | 67,958 | ||||||
25,000 | Entertainment One Ltd. | 173,980 | ||||||
30,000 | HT&E Ltd. | 37,460 | ||||||
7,500 | Manchester United plc, Cl. A | 123,225 | ||||||
4,190 | Modern Times Group MTG AB, Cl. B† | 34,724 | ||||||
4,190 | Nordic Entertainment Group AB, Cl. B | 99,088 |
1
The Gabelli International Small Cap Fund
Schedule of Investments (Continued) — September 30, 2019 (Unaudited)
Shares | Market Value | |||||||
COMMON STOCKS (Continued) |
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COMMUNICATION SERVICES (Continued) |
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20,000 | Sistema PJSFC, GDR | $ | 77,280 | |||||
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613,715 | ||||||||
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INFORMATION TECHNOLOGY — 5.1% | ||||||||
24,285 | Equiniti Group plc | 64,676 | ||||||
10,000 | F-Secure OYJ† | 30,410 | ||||||
6,000 | Infomart Corp. | 93,447 | ||||||
20,000 | NCC Group plc | 42,837 | ||||||
65,000 | Oxford Metrics plc | 71,129 | ||||||
6,000 | Topcon Corp. | 79,519 | ||||||
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382,018 | ||||||||
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REAL ESTATE — 2.5% | ||||||||
25,000 | Impact Healthcare Reit plc, REIT | 34,120 | ||||||
4,000 | PATRIZIA AG | 74,335 | ||||||
7,000 | Tosei Corp. | 82,608 | ||||||
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191,063 | ||||||||
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COMPUTER SOFTWARE AND SERVICES — 0.8% |
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3,000 | PSI Software AG | 61,310 | ||||||
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UTILITIES — 0.2% | ||||||||
75,000 | China Everbright Water Ltd. | 17,093 | ||||||
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TOTAL COMMON STOCKS | 7,121,475 | |||||||
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PREFERRED STOCKS — 0.8% | ||||||||
HEALTH CARE — 0.8% | ||||||||
1,400 | Draegerwerk AG & Co. KGaA, 0.190% | 62,136 | ||||||
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Principal | Market Value | |||||||
U.S. GOVERNMENT OBLIGATIONS — 5.2% |
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$395,000 | U.S. Treasury Bills, | $ | 393,722 | |||||
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TOTAL INVESTMENTS — 100.0% | $ | 7,577,333 | ||||||
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† | Non-income producing security. |
†† | Represents annualized yields at dates of purchase. |
GDR | Global Depositary Receipt |
REIT | Real Estate Investment Trust |
Geographic Diversification | % of Market Value | Market Value | ||||||||
Europe |
| 54.4 | % | $ | 4,125,431 | |||||
Japan |
| 22.8 |
| 1,725,628 | ||||||
Canada |
| 8.4 |
| 633,897 | ||||||
United States |
| 5.2 |
| 393,722 | ||||||
Asia/Pacific |
| 5.2 |
| 392,081 | ||||||
Latin America |
| 4.0 |
| 306,574 | ||||||
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100.0 | % | $ | 7,577,333 | |||||||
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2