The Gabelli Global Content & Connectivity Fund
Schedule of Investments — March 31, 2021 (Unaudited)
Shares | Market | |||||
COMMON STOCKS — 97.6% |
| |||||
COMMUNICATION SERVICES — 70.4% |
| |||||
Telecommunication Services — 37.5% |
| |||||
Wireless Telecommunication Services — 25.2% | ||||||
Wireless Telecommunication Services — 25.2% |
| |||||
60,000 | America Movil SAB de CV, Cl. L, ADR | $ | 814,800 | |||
30,000 | Anterix Inc.† | 1,414,800 | ||||
35,000 | KDDI Corp. | 1,073,154 | ||||
34,000 | Millicom International Cellular SA, SDR† | 1,308,074 | ||||
100,000 | MTN Group† | 588,415 | ||||
20,000 | Rogers Communications Inc., Cl. B | 922,000 | ||||
155,000 | Sistema PJSC FC, GDR | 1,401,200 | ||||
60,000 | SoftBank Group Corp. | 5,055,769 | ||||
47,000 | T-Mobile US Inc.† | 5,888,630 | ||||
60,000 | Turkcell Iletisim Hizmetleri A/S, ADR | 280,200 | ||||
31,000 | United States Cellular Corp.† | 1,130,880 | ||||
65,000 | Vodafone Group plc, ADR | 1,197,950 | ||||
21,075,872 | ||||||
Diversified Telecommunication Services — 12.3% | ||||||
Integrated Telecommunication Services — 10.7% |
| |||||
17,000 | AT&T Inc. | 514,590 | ||||
37,415,054 | Cable & Wireless Jamaica Ltd.†(a) | 297,896 | ||||
3,000,000 | China Tower Corp. Ltd., Cl. H | 443,781 | ||||
80,000 | Deutsche Telekom AG | 1,610,821 | ||||
43,000 | Telenor ASA | 756,622 | ||||
75,000 | Telephone and Data Systems Inc. | 1,722,000 | ||||
50,000 | TELUS Corp. | 996,500 | ||||
46,000 | Verizon Communications Inc. | 2,674,900 | ||||
9,017,110 | ||||||
Alternative Carriers — 1.6% |
| |||||
100,000 | Lumen Technologies Inc. | 1,335,000 | ||||
Media & Entertainment — 32.9% |
| |||||
Media — 10.8% | ||||||
Cable & Satellite — 10.8% |
| |||||
96,000 | Comcast Corp., Cl. A | 5,194,560 | ||||
25,000 | DISH Network Corp., Cl. A† | 905,000 | ||||
55,000 | Liberty Global plc, Cl. C† | 1,404,700 | ||||
115,000 | WideOpenWest Inc.† | 1,562,850 | ||||
9,067,110 | ||||||
Interactive Media & Services — 14.9% | ||||||
Interactive Media & Services — 14.9% |
| |||||
3,300 | Alphabet Inc., Cl. C† | 6,826,479 | ||||
19,000 | Facebook Inc., Cl. A† | 5,596,070 | ||||
12,422,549 | ||||||
Entertainment — 7.2% | ||||||
Movies & Entertainment — 5.7% |
| |||||
110,000 | Borussia Dortmund GmbH & Co. KGaA† | 699,809 |
Shares | Market | |||||
17,000 | Liberty Media Corp.- Liberty Braves, Cl. C† | $ | 472,940 | |||
4,000 | Madison Square Garden Sports Corp.† | 717,840 | ||||
45,000 | Manchester United plc, Cl. A | 708,300 | ||||
120,000 | OL Groupe SA† | 330,701 | ||||
10,000 | The Walt Disney Co.† | 1,845,200 | ||||
4,774,790 | ||||||
Interactive Home Entertainment — 1.5% |
| |||||
4,000 | Take-Two Interactive Software Inc.† | 706,800 | ||||
7,000 | Ubisoft Entertainment SA† | 532,593 | ||||
1,239,393 | ||||||
TOTAL COMMUNICATION SERVICES | 58,931,824 | |||||
INFORMATION TECHNOLOGY — 8.8% |
| |||||
Technology Hardware & Equipment — 2.9% |
| |||||
Technology Hardware, Storage & Peripherals — 1.7% | ||||||
Technology Hardware, Storage & Peripherals — 1.7% |
| |||||
12,000 | Apple Inc. | 1,465,800 | ||||
Electronic Equipment, Instruments & Components — 1.2% |
| |||||
Electronic Equipment & Instruments — 1.2% |
| |||||
9,500 | Sony Group Corp., ADR | 1,007,095 | ||||
Software & Services — 5.9% |
| |||||
Software — 2.4% |
| |||||
Systems Software — 2.4% |
| |||||
8,500 | Microsoft Corp. | 2,004,045 | ||||
IT Services — 3.5% | ||||||
Internet Services and Infrastructure — 0.7% |
| |||||
20,000 | GMO internet Inc. | 572,590 | ||||
Data Processing & Outsourced Services — 2.8% | ||||||
3,500 | Mastercard Inc., Cl. A | 1,246,175 | ||||
2,500 | PayPal Holdings Inc.† | 607,100 | ||||
2,300 | Visa Inc., Cl. A | 486,979 | ||||
2,340,254 | ||||||
TOTAL INFORMATION TECHNOLOGY | 7,389,784 | |||||
FINANCIALS — 8.0% |
| |||||
Diversified Financials — 8.0% |
| |||||
Diversified Financial Services — 8.0% | ||||||
Multi-Sector Holdings — 8.0% |
| |||||
100,000 | Kinnevik AB, Cl. B | 4,861,767 | ||||
4,460 | Old Mutual Ltd.(a) | 4,333 | ||||
145,000 | VNV Global AB† | 1,813,029 |
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The Gabelli Global Content & Connectivity Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Shares | Market | |||||
COMMON STOCKS (Continued) |
| |||||
FINANCIALS (Continued) |
| |||||
Diversified Financials (Continued) |
| |||||
Diversified Financial Services (Continued) |
| |||||
Multi-Sector Holdings (Continued) |
| |||||
12,000 | Waterloo Investment Holdings Ltd.†(a) | $ | 3,600 | |||
6,682,729 | ||||||
TOTAL FINANCIALS | 6,682,729 | |||||
CONSUMER DISCRETIONARY — 6.5% |
| |||||
Retailing — 6.3% |
| |||||
Internet & Direct Marketing Retail — 6.3% |
| |||||
Internet & Direct Marketing Retail — 6.3% |
| |||||
16,000 | Naspers Ltd., Cl. N | 3,828,412 | ||||
13,000 | Prosus NV | 1,445,235 | ||||
5,273,647 | ||||||
Consumer Services — 0.2% | ||||||
Hotels, Restaurants & Leisure — 0.2% | ||||||
Casinos & Gaming — 0.2% | ||||||
375,000 | Sportech plc† | 138,808 | ||||
TOTAL CONSUMER DISCRETIONARY | 5,412,455 | |||||
REAL ESTATE — 3.9% |
| |||||
Real Estate — 3.9% |
| |||||
Equity Real Estate Investment Trusts — 3.9% | ||||||
Specialized REITs — 3.9% |
| |||||
5,000 | Crown Castle International Corp., REIT | 860,650 | ||||
7,500 | Digital Realty Trust Inc., REIT | 1,056,300 | ||||
2,000 | Equinix Inc., REIT | 1,359,180 | ||||
3,276,130 | ||||||
TOTAL REAL ESTATE | 3,276,130 | |||||
TOTAL COMMON STOCKS | 81,692,922 | |||||
CLOSED-END FUNDS — 0.1% |
| |||||
CONSUMER DISCRETIONARY — 0.1% |
| |||||
Retailing — 0.1% |
| |||||
Internet & Direct Marketing Retail — 0.1% | ||||||
Internet & Direct Marketing Retail — 0.1% |
| |||||
5,800 | Altaba Inc., Escrow† | 84,390 |
Shares | Market | |||||
PREFERRED STOCKS — 1.5% |
| |||||
INFORMATION TECHNOLOGY — 1.5% |
| |||||
Technology - Hardware and Equipment — 1.5% |
| |||||
Technology Hardware, Storage & Peripherals — 1.5% | ||||||
Technology Hardware, Storage & Peripherals — 1.5% |
| |||||
20,000 | Samsung Electronics Co. Ltd., 10.630% | $ | 1,290,037 | |||
WARRANTS — 0.1% |
| |||||
FINANCIALS — 0.1% |
| |||||
Diversified Financials — 0.1% |
| |||||
Diversified Financial Services — 0.1% |
| |||||
Multi-Sector Holdings — 0.1% |
| |||||
31,463 | VNV Global AB, expire 08/10/23† | 69,350 | ||||
Principal | ||||||
CORPORATE BONDS — 0.0% |
| |||||
COMMUNICATION SERVICES — 0.0% |
| |||||
Telecommunication Services — 0.0% |
| |||||
Wireless Telecommunication Services — 0.0% | ||||||
Wireless Telecommunication Services — 0.0% |
| |||||
$ 32,808 | Econet Wireless Zimbabwe Ltd., 5.000%, 03/17/23(a) | 1,532 | ||||
U.S. GOVERNMENT OBLIGATIONS — 0.7% |
| |||||
550,000 | U.S. Treasury Bills, | |||||
0.003% to 0.005%††, | ||||||
04/08/21 to 05/20/21 | 549,996 | |||||
TOTAL INVESTMENTS — 100.0% | ||||||
(Cost $48,280,914) | $ | 83,688,227 |
(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
† | Non-income producing security. |
†† | Represents annualized yields at dates of purchase. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
REIT | Real Estate Investment Trust |
SDR | Swedish Depositary Receipt |
2
The Gabelli Global Content & Connectivity Fund
Schedule of Investments (Continued) — March 31, 2021 (Unaudited)
Geographic Diversification | %of Market Value | Market Value | ||||||
North America | 59.9 | % | $ | 50,149,186 | ||||
Europe | 22.2 | 18,559,159 | ||||||
Japan | 9.2 | 7,708,608 | ||||||
South Africa | 5.3 | 4,421,160 | ||||||
Asia/Pacific | 2.1 | 1,733,819 | ||||||
Latin America | 1.3 | 1,116,295 | ||||||
100.0 | % | $ | 83,688,227 |
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