1
The
Gabelli
International
Small
Cap
Fund
Schedule
of
Investments
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
89.3%
CONSUMER
STAPLES
—
18.3%
15,000
Austevoll
Seafood
ASA
.............................
$
101,691
4,500
Fevertree
Drinks
plc
..................................
41,644
11,000
Glanbia
plc
...............................................
127,081
45,000
Hotel
Chocolat
Group
plc†
........................
60,545
3,425
Interparfums
SA
.......................................
143,545
4,000
Kobe
Bussan
Co.
Ltd.
...............................
96,229
1,750
Laurent-Perrier
.........................................
164,845
2,500
Milbon
Co.
Ltd.
........................................
110,295
32,000
PZ
Cussons
plc
........................................
69,345
4,000
Sakata
Seed
Corp.
....................................
133,060
2,000
Viscofan
SA
.............................................
109,332
1,157,612
HEALTH
CARE
—
14.9%
12,212
AddLife
AB,
Cl. B
......................................
126,262
1,500
Bachem
Holding
AG
.................................
94,338
1,800
Gerresheimer
AG
......................................
87,887
4,000
Idorsia
Ltd.†
............................................
51,770
2,300
MedPeer
Inc.†
..........................................
20,436
230
Siegfried
Holding
AG
................................
170,053
5,000
Takara
Bio
Inc.
.........................................
58,653
230
Tecan
Group
AG
.......................................
78,900
15,000
Tristel
plc
.................................................
55,269
1,300
Vetoquinol
SA
..........................................
101,654
646
Ypsomed
Holding
AG
...............................
96,116
941,338
CONSUMER
DISCRETIONARY
—
12.4%
50,000
888
Holdings
plc
......................................
51,703
10,000
Beneteau
SA
.............................................
102,657
9,820
Entain
plc
.................................................
117,413
2,200
JINS
Holdings
Inc.
...................................
65,318
8,000
Kindred
Group
plc,
SDR
............................
59,948
75,000
Mandarin
Oriental
International
Ltd.†
........
140,343
6,000
Raccoon
Holdings
Inc.
..............................
42,655
15,000
Treatt
plc
..................................................
97,621
10,000
Zojirushi
Corp.
.........................................
107,950
785,608
INFORMATION
TECHNOLOGY
—
12.4%
15,000
Alphawave
IP
Group
plc†
..........................
23,079
20,000
F-Secure
Oyj†
..........................................
48,033
9,000
Genius
Sports
Ltd.†
..................................
33,030
7,500
GMO
internet
group
Inc.
...........................
131,650
20,000
NCC
Group
plc
.........................................
48,245
30,000
Network
International
Holdings
plc†
..........
101,494
3,000
Nynomic
AG†
...........................................
74,439
6,000
Optex
Group
Co.
Ltd.
................................
88,030
100,000
Oxford
Metrics
plc
....................................
91,557
6,000
PSI
Software
AG
.......................................
114,307
Shares
Market
Value
20,000
WithSecure
Oyj†
......................................
$
31,428
785,292
MATERIALS
—
12.1%
6,000
Alamos
Gold
Inc.,
Cl. A
.............................
44,460
13,850
Alamos
Gold
Inc.,
Toronto,
Cl. A
...............
102,670
10,000
Eldorado
Gold
Corp.†
...............................
60,300
10,544
Endeavour
Mining
plc
...............................
194,492
5,000
Labrador
Iron
Ore
Royalty
Corp.
...............
104,644
4,000
MAG
Silver
Corp.†
....................................
50,067
9,000
Osisko
Gold
Royalties
Ltd.
........................
91,671
75,000
Perseus
Mining
Ltd.
.................................
72,963
80,000
Westgold
Resources
Ltd.†
........................
42,692
763,959
INDUSTRIALS
—
11.0%
15,000
Aida
Engineering
Ltd.
...............................
85,048
8,000
AZ-COM
MARUWA
Holdings
Inc.
..............
80,478
50,000
Chemring
Group
plc
.................................
156,818
2,000
Clarkson
plc
.............................................
58,375
4,000
Iveco
Group
NV†
......................................
18,863
8,000
JGC
Holdings
Corp.
..................................
99,255
4,000
Loomis
AB
...............................................
98,588
20,000
QleanAir
AB
..............................................
41,316
23,000
Teraoka
Seisakusho
Co.
Ltd.
.....................
53,275
692,016
FINANCIALS
—
5.3%
17,000
Polar
Capital
Holdings
plc
.........................
78,529
4,000
Rothschild
&
Co.
......................................
130,752
20,000
Tamburi
Investment
Partners
SpA
.............
128,214
337,495
COMMUNICATION
SERVICES
—
2.9%
9,000
Manchester
United
plc,
Cl. A
.....................
119,430
2,000
Xilam
Animation
SA†
................................
62,738
182,168
TOTAL
COMMON
STOCKS
..................
5,645,488
PREFERRED
STOCKS
—
1.2%
HEALTH
CARE
—
1.2%
1,800
Draegerwerk
AG
&
Co.
KGaA,
0.190%
.......
75,281
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
9.5%
$
605,000
U.S.
Treasury
Bills,
1.883%
to
2.893%††,
10/06/22
to
12/01/22
............................
603,135
TOTAL
INVESTMENTS
—
100.0%
(Cost
$8,025,627)
.................................
$
6,323,904
2
The
Gabelli
International
Small
Cap
Fund
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
SDR
Swedish
Depositary
Receipt
Geographic
Diversification
%
of
Market
Value
Market
Value
Europe
..............................
60.7
%
$
3,838,628
Japan
...............................
18.5
1,172,330
United
States
........................
9.5
603,135
Canada
..............................
7.2
453,813
Asia/Pacific
.........................
4.1
255,998
100.0%
$
6,323,904