The Gabelli Multimedia Trust Inc. (GGT) NPORT-P Gabelli Multimedia Trust Inc. (Sep 2019 report)

The Gabelli Multimedia Trust Inc.

Schedule of Investments — September 30, 2019 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 95.1%
		DISTRIBUTION COMPANIES — 60.2%
		Broadcasting — 10.7%
	10,000	Asahi Broadcasting Corp.	$	65,572
	66,000	CBS Corp., Cl. A, Voting		2,861,100
	16,000	CBS Corp., Cl. B,Non-Voting		645,920
	6,400	Chubu-Nippon Broadcasting Co. Ltd.		37,882
	16,000	Cogeco Inc.		1,152,614
	30,000	Corus Entertainment Inc., OTC, Cl. B		120,000
	155,000	Corus Entertainment Inc., Toronto, Cl. B		618,900
	34,000	Discovery Inc., Cl. A†		905,420
	176,000	Discovery Inc., Cl. C†		4,333,120
	30,000	Fox Corp., Cl. A		946,050
	25,000	Fox Corp., Cl. B		788,500
	81,000	Grupo Radio Centro SAB de CV, Cl. A†		24,381
	16,000	Informa plc		167,611
	350,000	ITV plc		541,798
	4,550	Lagardere SCA		100,674
	11,500	Liberty Broadband Corp., Cl. A†		1,201,980
	31,800	Liberty Broadband Corp., Cl. C†		3,328,506
	18,000	Liberty Media Corp.- Liberty SiriusXM, Cl. A†		748,260
	95,000	Liberty Media Corp.- Liberty SiriusXM, Cl. C†		3,986,200
	68,566	Media Prima Berhad†		7,697
	65,000	MSG Networks Inc., Cl. A†		1,054,300
	36,000	Nippon Television Holdings Inc.		460,800
	4,650	NRJ Group		33,451
	3,000	RTL Group SA		156,888
	34,000	Salem Media Group Inc.		52,020
	32,000	Sinclair Broadcast Group Inc., Cl. A		1,367,680
	22,000	TEGNA Inc.		341,660
	45,000	Television Broadcasts Ltd.		73,376
	23,000	Television Francaise 1		201,930
	65,000	Tokyo Broadcasting System Holdings Inc.		1,050,821
	240,000	TV Azteca SA de CV		11,797
				27,386,908
		Business Services — 1.9%
	6,000	Carlisle Support Sevices Group Ltd.†(a)		590
	50,000	Emerald Expositions Events Inc.		486,500
	4,000	Fluent Inc.†		10,940
	6,000	Impellam Group plc†		29,362
	2,000	Qumu Corp.†		6,660
	16,500	S&P Global Inc.		4,042,170
	10,000	Zayo Group Holdings Inc.†		339,000
				4,915,222
		Cable — 10.2%
	25,000	Altice Europe NV†		130,794
	32,000	AMC Networks Inc., Cl. A†		1,573,120
	450	Cable One Inc.		564,615
	6,600	Charter Communications Inc., Cl. A†		2,719,992

Shares			Market Value
	36,000	Cogeco Communications Inc.	$	2,901,249
	133,000	Comcast Corp., Cl. A		5,995,640
	32,931	Liberty Global plc, Cl. A†		815,042
	155,177	Liberty Global plc, Cl. C†		3,691,661
	19,400	MultiChoice Group†		151,114
	104,000	Rogers Communications Inc., New York, Cl. B		5,067,920
	88,000	Shaw Communications Inc., New York, Cl. B		1,730,080
	4,000	Telenet Group Holding NV†		188,780
	105,000	WideOpenWest Inc.†		646,800
				26,176,807
		Computer Software and Services — 0.5%
	5,000	CyrusOne Inc., REIT		395,500
	165,000	Groupon Inc.†		438,900
	5,000	SVMK Inc.†		85,500
	1,000	Tencent Holdings Ltd.		42,130
	13,000	Zuora Inc., Cl. A†		195,650
				1,157,680
		Consumer Services — 1.8%
	2,232	Expedia Group Inc.		300,003
	12,500	IAC/InterActiveCorp.†		2,724,625
	30,000	Liberty TripAdvisor Holdings Inc., Cl. A†		282,300
	115,000	Qurate Retail Inc., Cl. A†		1,186,225
				4,493,153
		Diversified Consumer Services — 0.0%
	8,000	Monitronics International Inc.†		60,000
		Diversified Industrial — 0.8%
	16,000	Bouygues SA		640,893
	3,000	Fortune Brands Home & Security Inc.		164,100
	23,000	Jardine Strategic Holdings Ltd.		687,240
	6,000	Malaysian Resources Corp. Bhd		1,053
	50,000	Trine Acquisition Corp.†		517,500
				2,010,786
		Entertainment — 10.1%
	65,000	Borussia Dortmund GmbH & Co. KGaA		653,918
	55,000	Entertainment One Ltd.		382,757
	35,000	Gogo Inc.†		211,050
	325,000	Grupo Televisa SAB, ADR		3,178,500
	18,000	Liberty Media Corp.- Liberty Braves, Cl. A†		500,940
	97,020	Liberty Media Corp.- Liberty Braves, Cl. C†		2,692,305
	8,000	Liberty Media Corp.- Liberty Formula One, Cl. A†		316,720
	27,000	Liberty Media Corp.- Liberty Formula One, Cl. C†		1,122,930
	4,000	M6 Metropole Television SA		65,615
	28,000	Naspers Ltd., Cl. N		4,243,077
	4,500	Netflix Inc.†		1,204,290
	67,073	Reading International Inc., Cl. A†		802,193
	8,000	Reading International Inc., Cl. B†		200,000
	4,000	Roku Inc.†		407,040

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The Gabelli Multimedia Trust Inc.

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		DISTRIBUTION COMPANIES (Continued)
		Entertainment (Continued)
	40,000	Sirius XM Holdings Inc.	$	250,200
	24,000	Take-Two Interactive Software Inc.†		3,008,160
	24,600	The Madison Square Garden Co., Cl. A†		6,482,592
	550,000	Wow Unlimited Media Inc.†(b)		240,782
	20,000	Wow Unlimited Media Inc.†		8,756
				25,971,825
		Equipment — 0.8%
	3,600	Amphenol Corp., Cl. A		347,400
	44,000	Corning Inc.		1,254,880
	200	Furukawa Electric Co. Ltd.		4,807
	6,500	QUALCOMM Inc.		495,820
				2,102,907
		Financial Services — 2.8%
	15,000	Caribbean Investment Holdings Ltd.†		3,043
	35,500	Kinnevik AB, Cl. A		975,488
	32,000	Kinnevik AB, Cl. B		841,605
	4,800	LendingTree Inc.†		1,490,064
	37,000	PayPal Holdings Inc.†		3,832,830
	14,000	Waterloo Investment Holdings Ltd.†(a)		3,500
				7,146,530
		Food and Beverage — 0.4%
	7,000	Davide Campari-Milano SpA		63,250
	2,800	Pernod Ricard SA		498,676
	2,500	Remy Cointreau SA		331,891
				893,817
		Information Technology — 0.8%
	26,500	Prosus NV†		1,945,322
		Real Estate — 1.2%
	12,500	American Tower Corp., REIT		2,764,125
	3,000	Crown Castle International Corp., REIT		417,030
	15,000	Midway Investments†(a)		184
				3,181,339
		Retail — 0.3%
	200	Amazon.com Inc.†		347,182
	4,400	Best Buy Co. Inc.		303,556
				650,738
		Satellite — 4.0%
	96,941	DISH Network Corp., Cl. A†		3,302,780
	242,199	Dish TV India Ltd., GDR		56,675
	64,000	EchoStar Corp., Cl. A†		2,535,680
	33,000	Intelsat SA†		752,400
	30,000	Iridium Communications Inc.†		638,400
	68,500	Loral Space & Communications Inc.†		2,835,900
	250,000	PT Indosat Tbk†		50,194

Shares			Market Value
	3,000	SKY Perfect JSAT Holdings Inc.	$	12,125
				10,184,154
		Telecommunications: Long Distance — 1.3%
	58,000	AT&T Inc.		2,194,720
	5,594	BCE Inc., Toronto		270,569
	150,000	Sprint Corp.†		925,500
				3,390,789
		Telecommunications: National — 5.0%
	5,000	China Telecom Corp. Ltd., ADR		227,850
	5,000	China Unicom Hong Kong Ltd., ADR		52,450
	61,000	Deutsche Telekom AG, ADR		1,019,310
	16,000	Elisa Oyj		824,877
	3,605	Hellenic Telecommunications Organization SA		49,666
	60,000	Inmarsat plc		431,422
	10,000	Liberty Latin America Ltd., Cl. A†		170,700
	50,000	Liberty Latin America Ltd., Cl. C†		854,750
	1,000	Magyar Telekom Telecommunications plc, ADR		7,060
	4,000	Maroc Telecom		58,422
	20,000	Megacable Holdings SAB de CV		80,562
	10,000	Nippon Telegraph & Telephone Corp.		476,856
	5,000	Oi SA, ADR†		1,932
	4,000	Orange SA, ADR		62,280
	22,000	PLDT Inc., ADR		484,000
	6,000	PT Telekomunikasi Indonesia Persero Tbk, ADR		180,660
	6,000	Rostelecom PJSC, ADR		44,010
	22,000	Swisscom AG, ADR		1,083,940
	6,000	Telecom Argentina SA, ADR		60,000
	340,000	Telecom Italia SpA†		194,001
	50,000	Telecom Italia SpA		27,336
	17,500	Telefonica Brasil SA, ADR		230,475
	105,710	Telefonica SA, ADR		803,396
	145,000	Telekom Austria AG		1,054,149
	55,000	Telesites SAB de CV†		36,371
	15,172	Telia Co. AB		67,922
	2,400	Telstra Corp. Ltd., ADR		28,344
	100,000	VEON Ltd., ADR		240,000
	66,000	Verizon Communications Inc.		3,983,760
				12,836,501
		Telecommunications: Regional — 2.8%
	48,000	CenturyLink Inc.		599,040
	16,000	Cincinnati Bell Inc.†		81,120
	50,088	GCI Liberty Inc., Cl. A†		3,108,962
	79,500	Telephone & Data Systems Inc.		2,051,100
	40,000	TELUS Corp., New York		1,424,800
				7,265,022
		Wireless Communications — 4.8%
	50,000	Altice USA Inc., Cl. A†		1,434,000
	55,000	America Movil SAB de CV, Cl. L, ADR		817,300
	240,000	Jasmine International PCL(a)		50,221

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The Gabelli Multimedia Trust Inc.

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		DISTRIBUTION COMPANIES (Continued)
		Wireless Communications (Continued)
	65,000	Millicom International Cellular SA, SDR	$	3,153,580
	80,000	NTT DOCOMO Inc.		2,036,902
	19,000	Orascom Investment Holding, GDR†		2,755
	60,000	ORBCOMM Inc.†		285,600
	34,000	SK Telecom Co. Ltd., ADR		754,800
	4,203	TIM Participacoes SA, ADR		60,355
	26,000	T-Mobile US Inc.†		2,048,020
	10,000	Turkcell Iletisim Hizmetleri A/S, ADR		57,800
	30,000	United States Cellular Corp.†		1,127,400
	25,000	Vodafone Group plc, ADR		497,750
				12,326,483
		TOTAL DISTRIBUTION COMPANIES		154,095,983
		COPYRIGHT/CREATIVITY COMPANIES — 34.9%
		Business Services — 0.1%
	8,000	Scientific Games Corp.†		162,800
		Business Services: Advertising — 1.7%
	1,000	Boston Omaha Corp., Cl. A†		19,830
	275,000	Clear Channel Outdoor Holdings Inc.†		693,000
	1,500	Harte-Hanks Inc.†		4,575
	13,000	JCDecaux SA		351,968
	9,400	Lamar Advertising Co., Cl. A, REIT		770,142
	27,000	National CineMedia Inc.		221,400
	15,000	Ocean Outdoor Ltd.†		116,250
	1,500	Publicis Groupe SA		73,768
	4,000	Ströeer SE & Co. KGaA		304,533
	10,000	Telaria Inc.†		69,100
	75,000	The Interpublic Group of Companies Inc.		1,617,000
				4,241,566
		Computer Hardware — 2.0%
	23,000	Apple Inc.		5,151,310
		Computer Software and Services — 9.7%
	38,000	Activision Blizzard Inc.		2,010,960
	4,000	Actua Corp.†(a)		1,780
	4,800	Alphabet Inc., Cl. A†		5,861,472
	1,300	Alphabet Inc., Cl. C†		1,584,700
	5,000	Blucora Inc.†		108,200
	39,000	comScore Inc.†		74,490
	60,000	eBay Inc.		2,338,800
	6,000	Electronic Arts Inc.†		586,920
	39,200	Facebook Inc., Cl. A†		6,980,736
	5,000	GrubHub Inc.†		281,050
	95,000	Hewlett Packard Enterprise Co.		1,441,150
	100,000	Internap Corp.†		258,000
	14,000	InterXion Holding NV†		1,140,440
	10,000	Microsoft Corp.		1,390,300
	7,000	QTS Realty Trust Inc., Cl. A, REIT		359,870

Shares			Market Value
	300	Red Violet Inc.†	$	3,783
	12,000	SoftBank Group Corp.		470,566
				24,893,217
		Consumer Products — 0.9%
	2,000	Nintendo Co. Ltd.		740,254
	33,000	Nintendo Co. Ltd., ADR		1,537,800
				2,278,054
		Consumer Services — 0.1%
	14	Liq Participacoes SA†		38
	2,837	Marriott Vacations Worldwide Corp.		293,942
	10,000	Spark Networks SE, ADR†		55,300
				349,280
		Electronics — 5.1%
	2,000	IMAX Corp.†		43,900
	5,000	Intel Corp.		257,650
	3,440	Koninklijke Philips NV		158,687
	29,036	Micro Focus International plc, ADR		410,859
	30,000	Resideo Technologies Inc.†		430,500
	197,000	Sony Corp., ADR		11,648,610
				12,950,206
		Entertainment — 6.1%
	79,200	GMM Grammy Public Co. Ltd.		29,261
	34,000	Lions Gate Entertainment Corp., Cl. B		297,160
	22,000	Live Nation Entertainment Inc.†		1,459,480
	11,000	Manchester United plc, Cl. A		180,730
	17,000	STV Group plc		80,474
	10,000	Tencent Music Entertainment Group, ADR†		127,700
	48,000	The Walt Disney Co.		6,255,360
	52,000	Universal Entertainment Corp.		1,678,428
	50,000	Viacom Inc., Cl. A		1,313,000
	53,000	Viacom Inc., Cl. B		1,273,590
	85,000	Vivendi SA		2,332,828
	8,000	World Wrestling Entertainment Inc., Cl. A		569,200
				15,597,211
		Hotels and Gaming — 6.5%
	100,000	Boyd Gaming Corp.		2,395,000
	1,800	Churchill Downs Inc.		222,219
	15,000	Full House Resorts Inc.†		32,400
	14,000	Golden Entertainment Inc.†		186,060
	4,200	Greek Organization of Football Prognostics SA		43,192
	18,427	GVC Holdings plc		168,431
	70,000	International Game Technology plc		994,700
	20,000	Las Vegas Sands Corp.		1,155,200
	180,250	Mandarin Oriental International Ltd.		281,190
	31,500	Melco Resorts & Entertainment Ltd., ADR		611,415
	22,000	MGM China Holdings Ltd.		34,301
	74,000	MGM Resorts International		2,051,280
	4,000	Penn National Gaming Inc.†		74,500
	70,700	Ryman Hospitality Properties Inc., REIT		5,783,967

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The Gabelli Multimedia Trust Inc.

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		COPYRIGHT/CREATIVITY COMPANIES (Continued)
		Hotels and Gaming (Continued)
	25,000	Wynn Resorts Ltd.	$	2,718,000
				16,751,855
		Publishing — 1.5%
	13,000	AH Belo Corp., Cl. A		48,750
	20,000	Arnoldo Mondadori Editore SpA†		35,227
	974,000	Bangkok Post plc†		61,462
	800	Graham Holdings Co., Cl. B		530,760
	800	John Wiley & Sons Inc., Cl. B		36,520
	11,000	Meredith Corp.		403,260
	5,263	Nation International Edutainment Public Co. Ltd.†		430
	1,000,000	Nation Multimedia Group Public Co. Ltd.†		6,539
	28,000	News Corp., Cl. A		389,760
	50,000	News Corp., Cl. B		714,750
	6,779	Novus Holdings Ltd.		1,267
	1,000	Scholastic Corp.		37,760
	247,000	Singapore Press Holdings Ltd.		371,711
	600	Spir Communication SA†(a)		2,616
	78,000	The E.W. Scripps Co., Cl. A		1,035,840
	2,000	Wolters Kluwer NV		146,010
				3,822,662
		Real Estate — 1.2%
	5,000	Equinix Inc., REIT		2,884,000
	12,000	Outfront Media Inc., REIT		333,360
				3,217,360
		TOTAL COPYRIGHT/CREATIVITY COMPANIES		89,415,521
		TOTAL COMMON STOCKS		243,511,504
		CLOSED-END FUNDS — 1.0%
	130,000	Altaba Inc.		2,532,400
		PREFERRED STOCKS — 0.1%
		DISTRIBUTION COMPANIES — 0.1%
		Telecommunications: Regional — 0.1%
	5,500	GCI Liberty Inc., Ser. A, 7.000%		144,265
		RIGHTS — 0.0%
		DISTRIBUTION COMPANIES — 0.0%
		Broadcasting — 0.0%
	14,000	Media General Inc., CVR†(a)		0
		WARRANTS — 0.0%
		DISTRIBUTION COMPANIES — 0.0%
		Real Estate — 0.0%
	600	Malaysian Resources Corp. Bhd, expire 10/29/27†		30

Shares			Market Value
		Telecommunications — 0.0%
	117,647	Jasmine International PCL, expire 07/05/20†	$	12,309
		TOTAL WARRANTS		12,339
Principal Amount
		CONVERTIBLE CORPORATE BONDS — 0.0%
		Distribution Companies — 0.0%
	$   100,000	Gogo Inc., 6.000%, 05/15/22(b)		119,616
		U.S. GOVERNMENT OBLIGATIONS — 3.8%
	9,741,000	U.S. Treasury Bills, 1.793% to 2.096%††, 10/10/19 to 12/26/19		9,708,071
		TOTAL INVESTMENTS — 100.0%
		(Cost $201,405,631)	$	256,028,195

(a)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(b)	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.
†	Non-income producing security.
††	Represents annualized yields at dates of purchase.
ADR	American Depositary Receipt
CVR	Contingent Value Right
GDR	Global Depositary Receipt
REIT	Real Estate Investment Trust
SDR	Swedish Depositary Receipt

Geographic Diversification	% of Total Investments			Market Value
North America		76.0	%		$	194,561,209
Europe		11.0				28,047,637
Japan		7.9				20,221,423
Latin America		1.8				4,542,555
South Africa		1.7				4,395,457
Asia/Pacific		1.6				4,198,737
Africa/Middle East		0.0	*			61,177
Total Investments		100.0	%		$	256,028,195

* Amount represents less than 0.05%.

4