1
The
Gabelli
Global
Content
&
Connectivity
Fund
Schedule
of
Investments
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
99.1%
COMMUNICATION
SERVICES
—
75.0%
Telecommunication
Services
—
44.1%
Wireless
Telecommunication
Services
—
30.0%
Wireless
Telecommunication
Services
—
30.0%
40,000
America
Movil
SAB
de
CV,
Cl. L,
ADR
.........
$
658,800
30,000
Anterix
Inc.†
.............................................
1,071,600
22,000
KDDI
Corp.
................................................
644,967
70,000
Millicom
International
Cellular
SA,
SDR†
....
808,955
100,000
MTN
Group
Ltd.
........................................
662,320
25,000
Rogers
Communications
Inc.,
Cl. B
............
963,500
165,000
Sistema
PJSC
FC,
GDR†
............................
82,500
95,000
SoftBank
Group
Corp.
................................
3,216,334
42,000
T-Mobile
US
Inc.†
......................................
5,635,140
20,000
United
States
Cellular
Corp.†
.....................
520,600
63,000
Vodafone
Group
plc,
ADR
..........................
713,790
14,978,506
Diversified
Telecommunication
Services
—
14.1%
Integrated
Telecommunication
Services
—
12.9%
35,000
AT&T
Inc.
..................................................
536,900
37,415,054
Cable
&
Wireless
Jamaica
Ltd.†(a)
.............
285,414
90,000
Deutsche
Telekom
AG
................................
1,542,873
28,000
Frontier
Communications
Parent
Inc.†
.......
656,040
40,000
Sitios
Latinoamerica
SAB
de
CV†
...............
18,213
34,000
Telenor
ASA
..............................................
311,194
80,000
Telephone
and
Data
Systems
Inc.
...............
1,112,000
37,000
TELUS
Corp.
.............................................
734,820
33,000
Verizon
Communications
Inc.
....................
1,253,010
6,450,464
Alternative
Carriers
—
1.2%
40,000
Lumen
Technologies
Inc.
...........................
291,200
40,000
Telesat
Corp.†
...........................................
312,400
603,600
Media
&
Entertainment
—
30.9%
Interactive
Media
&
Services
—
13.3%
Interactive
Media
&
Services
—
13.3%
45,000
Alphabet
Inc.,
Cl. C†
..................................
4,326,750
17,000
Meta
Platforms
Inc.,
Cl. A†
........................
2,306,560
6,633,310
Media
—
9.1%
Cable
&
Satellite
—
9.1%
75,000
Comcast
Corp.,
Cl. A
.................................
2,199,750
60,000
Liberty
Global
plc,
Cl. C†
...........................
990,000
22,000
Telenet
Group
Holding
NV
..........................
304,227
85,000
WideOpenWest
Inc.†
.................................
1,042,950
4,536,927
Entertainment
—
8.5%
Movies
&
Entertainment
—
7.8%
200,000
Bollore
SE
.................................................
925,559
Shares
Market
Value
70,000
Borussia
Dortmund
GmbH
&
Co.
KGaA†
....
$
228,312
13,000
Liberty
Media
Corp.-
Liberty
Braves,
Cl. C†
357,500
63,000
Manchester
United
plc,
Cl. A
......................
836,010
1,600
Netflix
Inc.†
...............................................
376,704
145,000
OL
Groupe
SA†
.........................................
400,743
8,000
The
Walt
Disney
Co.†
................................
754,640
3,879,468
Interactive
Home
Entertainment
—
0.7%
13,000
Ubisoft
Entertainment
SA†
.........................
360,815
TOTAL
COMMUNICATION
SERVICES
......
37,443,090
INFORMATION
TECHNOLOGY
—
10.5%
Software
&
Services
—
7.0%
IT
Services
—
3.7%
Data
Processing
&
Outsourced
Services
—
3.2%
2,500
Mastercard
Inc.,
Cl. A
................................
710,850
10,000
PayPal
Holdings
Inc.†
................................
860,700
1,571,550
Internet
Services
and
Infrastructure
—
0.5%
15,000
GMO
internet
group
Inc.
............................
264,078
Software
—
3.3%
Systems
Software
—
3.3%
7,000
Microsoft
Corp.
.........................................
1,630,300
Technology
Hardware
&
Equipment
—
3.5%
Technology
Hardware,
Storage
&
Peripherals
—
2.5%
Technology
Hardware,
Storage
&
Peripherals
—
2.5%
9,000
Apple
Inc.
.................................................
1,243,800
Electronic
Equipment,
Instruments
&
Components
—
1.0%
Electronic
Equipment
&
Instruments
—
1.0%
8,000
Sony
Group
Corp.,
ADR
.............................
512,400
TOTAL
INFORMATION
TECHNOLOGY
......
5,222,128
CONSUMER
DISCRETIONARY
—
7.8%
Retailing
—
7.8%
Internet
&
Direct
Marketing
Retail
—
7.8%
Internet
&
Direct
Marketing
Retail
—
7.8%
3,000
Amazon.com
Inc.†
....................................
339,000
60,000
Prosus
NV
.................................................
3,173,598
20,000
Zalando
SE†
..............................................
396,528
3,909,126
TOTAL
CONSUMER
DISCRETIONARY
......
3,909,126
2
The
Gabelli
Global
Content
&
Connectivity
Fund
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
FINANCIALS
—
3.2%
Diversified
Financials
—
3.2%
Diversified
Financial
Services
—
3.2%
Multi-Sector
Holdings
—
3.2%
70,000
Kinnevik
AB,
Cl. B†
....................................
$
931,008
4,460
Old
Mutual
Ltd.(a)
.....................................
588
325,000
VNV
Global
AB†
........................................
663,609
12,000
Waterloo
Investment
Holdings
Ltd.†(a)
......
6,000
1,601,205
Banks
—
0.0%
Banks
—
0.0%
Diversified
Banks
—
0.0%
58
Nedbank
Group
Ltd.
..................................
640
TOTAL
FINANCIALS
..........................
1,601,845
REAL
ESTATE
—
2.6%
Real
Estate
—
2.6%
Equity
Real
Estate
Investment
Trusts
—
2.6%
Specialized
REITs
—
2.6%
3,000
Crown
Castle
Inc.,
REIT
.............................
433,650
1,500
Equinix
Inc.,
REIT
......................................
853,260
1,286,910
TOTAL
REAL
ESTATE
.........................
1,286,910
TOTAL
COMMON
STOCKS
..................
49,463,099
CLOSED-END
FUNDS
—
0.0%
CONSUMER
DISCRETIONARY
—
0.0%
Retailing
—
0.0%
Internet
&
Direct
Marketing
Retail
—
0.0%
Internet
&
Direct
Marketing
Retail
—
0.0%
5,800
Altaba
Inc.,
Escrow†
..................................
22,040
PREFERRED
STOCKS
—
0.9%
INFORMATION
TECHNOLOGY
—
0.9%
Technology
-
Hardware
and
Equipment
—
0.9%
Technology
Hardware,
Storage
&
Peripherals
—
0.9%
Technology
Hardware,
Storage
&
Peripherals
—
0.9%
13,000
Samsung
Electronics
Co.
Ltd.,
10.630%
.....
426,155
Shares
Market
Value
WARRANTS
—
0.0%
FINANCIALS
—
0.0%
Diversified
Financials
—
0.0%
Diversified
Financial
Services
—
0.0%
Multi-Sector
Holdings
—
0.0%
31,463
VNV
Global
AB,
expire
08/10/23†
...............
$
278
TOTAL
INVESTMENTS
—
100.0%
(Cost
$46,621,811)
................................
$
49,911,572
(a)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
†
Non-income
producing
security.
ADR
American
Depositary
Receipt
GDR
Global
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
SDR
Swedish
Depositary
Receipt
Geographic
Diversification
%
of
Market
Value
Market
Value
North
America
......................
61.2
%
$
30,545,664
Europe
..............................
25.4
12,670,000
Japan
...............................
9.3
4,637,778
Latin
America
.......................
1.9
968,426
South
Africa
.........................
1.3
663,549
Asia/Pacific
.........................
0.9
426,155
100.0%
$
49,911,572