1
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
98
.7
%
Financial
Services
—
11
.9
%
71,000‌
Aegon
NV
......................
$
285,432‌
5,750‌
Ally
Financial
Inc.
.................
160,022‌
280,000‌
American
Express
Co.
..............
37,774,800‌
28,000‌
Apollo
Global
Management
Inc.
.......
1,302,000‌
16,000‌
Argo
Group
International
Holdings
Ltd.
..
308,160‌
6,100‌
Axis
Capital
Holdings
Ltd.
...........
299,815‌
28,400‌
Banco
Bilbao
Vizcaya
Argentaria
SA
....
128,604‌
75,000‌
Banco
Santander
SA
,
ADR
...........
174,000‌
75,000‌
Bank
of
America
Corp.
..............
2,265,000‌
69,000‌
Barclays
plc
.....................
111,172‌
107‌
Berkshire
Hathaway
Inc.
,
Cl. A
†
.......
43,492,290‌
3,250‌
Berkshire
Hathaway
Inc.
,
Cl. B
†
.......
867,815‌
210‌
BlackRock
Inc.
...................
115,559‌
42,500‌
Blackstone
Inc.
...................
3,557,250‌
1,280‌
Block
Inc.
†
......................
70,387‌
90,000‌
Blue
Owl
Capital
Inc.
...............
830,700‌
7,000‌
Brookfield
Asset
Management
Inc.
,
Cl. A
.
286,230‌
2,250‌
Capital
One
Financial
Corp.
...........
207,383‌
170,419‌
Cipher
Mining
Inc.
†
................
214,728‌
132,890‌
Citigroup
Inc.
....................
5,537,526‌
35,574‌
Commerzbank
AG
†
................
255,974‌
71,500‌
Compass
Diversified
Holdings
........
1,291,290‌
22,245‌
Credit
Agricole
SA
.................
182,345‌
5,000‌
Cullen/Frost
Bankers
Inc.
............
661,100‌
134,200‌
Dah
Sing
Banking
Group
Ltd.
.........
88,901‌
102,300‌
Dah
Sing
Financial
Holdings
Ltd.
......
233,020‌
46,900‌
Daiwa
Securities
Group
Inc.
..........
183,543‌
30,000‌
Deutsche
Bank
AG
................
222,000‌
900‌
Deutsche
Boerse
AG
...............
148,404‌
260‌
Diamond
Hill
Investment
Group
Inc.
....
42,900‌
468‌
E-L
Financial
Corp.
Ltd.
.............
290,012‌
2,000‌
EXOR
NV
†
......................
128,347‌
5,000‌
Federated
Hermes
Inc.
..............
165,600‌
3,500‌
First
American
Financial
Corp.
........
161,350‌
456‌
First
Citizens
BancShares
Inc.
,
Cl. A
....
363,628‌
17,500‌
Focus
Financial
Partners
Inc.
,
Cl. A
†
....
551,425‌
27,420‌
Franklin
Resources
Inc.
.............
590,078‌
50,000‌
GAM
Holding
AG
†
.................
46,620‌
10,000‌
Hannon
Armstrong
Sustainable
Infrastructure
Capital
Inc.
,
REIT
......
299,300‌
5,000‌
Icahn
Enterprises
LP
...............
248,350‌
20,500‌
ING
Groep
NV
....................
177,966‌
48,000‌
Interactive
Brokers
Group
Inc.
,
Cl. A
....
3,067,680‌
104,000‌
Janus
Henderson
Group
plc
..........
2,112,240‌
12,800‌
Japan
Post
Bank
Co.
Ltd.
............
89,237‌
99,800‌
Jefferies
Financial
Group
Inc.
.........
2,944,100‌
35,400‌
JPMorgan
Chase
&
Co.
.............
3,699,300‌
5,000‌
Julius
Baer
Group
Ltd.
..............
220,432‌
29,800‌
Kinnevik
AB
,
Cl. A
†
................
398,492‌
115,000‌
Liberty
Media
Acquisition
Corp.
,
Cl. A
†
..
1,143,100‌
Shares
Market
Value
14,000‌
Loews
Corp.
.....................
$
697,760‌
20,000‌
Manning
&
Napier
Inc.
..............
245,400‌
69,000‌
Marsh
&
McLennan
Companies
Inc.
....
10,301,010‌
9,250‌
Moody's
Corp.
...................
2,248,767‌
38,148‌
Morgan
Stanley
..................
3,014,073‌
240‌
MSCI
Inc.
.......................
101,230‌
84,035‌
NatWest
Group
plc
................
211,960‌
120,000‌
New
York
Community
Bancorp
Inc.
.....
1,023,600‌
7,320‌
NN
Group
NV
....................
286,743‌
11,610‌
PayPal
Holdings
Inc.
†
..............
999,273‌
5,500‌
Plus500
Ltd.
.....................
101,143‌
26,000‌
Polar
Capital
Holdings
plc
...........
120,476‌
75,000‌
Post
Holdings
Partnering
Corp.
†
.......
745,125‌
520,000‌
Post
Holdings
Partnering
Corp.
,
Cl. A
†
..
5,038,800‌
6,000‌
Prosus
NV
......................
317,360‌
30,050‌
Pzena
Investment
Management
Inc.
,
Cl. A
284,874‌
63,700‌
S&P
Global
Inc.
..................
19,450,795‌
5,000‌
Sculptor
Capital
Management
Inc.
......
44,200‌
8,750‌
Shinhan
Financial
Group
Co.
Ltd.
,
ADR
..
201,250‌
1,100‌
Silvercrest
Asset
Management
Group
Inc.
,
Cl. A
.........................
17,985‌
4,000‌
Societe
Generale
SA
...............
80,031‌
45,000‌
Standard
Chartered
plc
.............
284,787‌
115,800‌
State
Street
Corp.
.................
7,041,798‌
86,700‌
T.
Rowe
Price
Group
Inc.
............
9,104,367‌
156,400‌
The
Bank
of
New
York
Mellon
Corp.
....
6,024,528‌
58,000‌
The
Charles
Schwab
Corp.
...........
4,168,460‌
13,800‌
The
Goldman
Sachs
Group
Inc.
.......
4,044,090‌
17,000‌
Truist
Financial
Corp.
...............
740,180‌
7,300‌
TrustCo
Bank
Corp.
NY
.............
229,366‌
42,500‌
W.
R.
Berkley
Corp.
................
2,744,650‌
5,800‌
Webster
Financial
Corp.
.............
262,160‌
227,500‌
Wells
Fargo
&
Co.
.................
9,150,050‌
18,378‌
Westwood
Holdings
Group
Inc.
.......
176,980‌
207,498,878‌
Food
and
Beverage
—
11
.0
%
3,000‌
Ajinomoto
Co.
Inc.
................
82,125‌
2,100‌
Anheuser-Busch
InBev
SA/NV
........
96,206‌
25,356‌
BellRing
Brands
Inc.
†
..............
522,587‌
95,800‌
Brown-Forman
Corp.
,
Cl. A
..........
6,472,248‌
49,300‌
Brown-Forman
Corp.
,
Cl. B
..........
3,281,901‌
39,000‌
Campbell
Soup
Co.
................
1,837,680‌
66,000‌
Chr.
Hansen
Holding
A/S
............
3,260,634‌
15,000‌
Coca-Cola
Europacific
Partners
plc
.....
639,300‌
60,000‌
Conagra
Brands
Inc.
...............
1,957,800‌
26,500‌
Constellation
Brands
Inc.
,
Cl. A
........
6,086,520‌
25,000‌
Crimson
Wine
Group
Ltd.
†
...........
158,750‌
190,500‌
Danone
SA
......................
9,067,996‌
850,000‌
Davide
Campari-Milano
NV
..........
7,590,683‌
3,700‌
Diageo
plc
......................
156,884‌
131,500‌
Diageo
plc
,
ADR
..................
22,330,015‌
2
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
63,083‌
Farmer
Brothers
Co.
†
..............
$
295,859‌
90,000‌
Flowers
Foods
Inc.
................
2,222,100‌
81,000‌
Fomento
Economico
Mexicano
SAB
de
CV
,
ADR
.........................
5,082,750‌
15,000‌
General
Mills
Inc.
.................
1,149,150‌
17,500‌
Glanbia
plc
......................
202,037‌
1,848,400‌
Grupo
Bimbo
SAB
de
CV
,
Cl. A
........
6,495,259‌
41,300‌
Heineken
NV
....................
3,637,179‌
10,000‌
Ingredion
Inc.
....................
805,200‌
105,000‌
ITO
EN
Ltd.
.....................
4,251,365‌
58,200‌
Kerry
Group
plc
,
Cl. A
..............
5,189,400‌
2,200‌
Laurent-Perrier
...................
207,418‌
9,700‌
LVMH
Moet
Hennessy
Louis
Vuitton
SE
..
5,802,758‌
35,000‌
Maple
Leaf
Foods
Inc.
..............
522,967‌
35,000‌
Molson
Coors
Beverage
Co.
,
Cl. B
......
1,679,650‌
232,000‌
Mondelēz
International
Inc.
,
Cl. A
......
12,720,560‌
14,000‌
Morinaga
Milk
Industry
Co.
Ltd.
.......
411,594‌
41,000‌
Nestlé
SA
.......................
4,449,458‌
19,000‌
Nomad
Foods
Ltd.
†
................
269,800‌
131,000‌
PepsiCo
Inc.
.....................
21,387,060‌
39,200‌
Pernod
Ricard
SA
.................
7,255,232‌
35,000‌
Post
Holdings
Inc.
†
................
2,866,850‌
41,000‌
Remy
Cointreau
SA
................
6,867,112‌
750‌
The
Boston
Beer
Co.
Inc.
,
Cl. A
†
.......
242,738‌
70,000‌
The
Coca-Cola
Co.
................
3,921,400‌
62,500‌
The
Hain
Celestial
Group
Inc.
†
........
1,055,000‌
24,000‌
The
J.M.
Smucker
Co.
..............
3,297,840‌
84,000‌
The
Kraft
Heinz
Co.
................
2,801,400‌
41,200‌
Tootsie
Roll
Industries
Inc.
...........
1,371,136‌
22,200‌
TreeHouse
Foods
Inc.
†
.............
941,724‌
40,000‌
Tyson
Foods
Inc.
,
Cl. A
.............
2,637,200‌
332,000‌
Yakult
Honsha
Co.
Ltd.
.............
19,291,923‌
192,872,448‌
Equipment
and
Supplies
—
7
.1
%
340,000‌
AMETEK
Inc.
....................
38,559,400‌
14,000‌
Amphenol
Corp.
,
Cl. A
..............
937,440‌
25,000‌
Ardagh
Group
SA
.................
302,500‌
113,000‌
Ardagh
Metal
Packaging
SA
..........
546,920‌
128,195‌
CIRCOR
International
Inc.
†
..........
2,113,935‌
3,000‌
Crown
Holdings
Inc.
...............
243,090‌
1,395‌
Danaher
Corp.
...................
360,314‌
294,000‌
Donaldson
Co.
Inc.
................
14,408,940‌
22,000‌
DS
Smith
plc
....................
63,105‌
153,300‌
Flowserve
Corp.
..................
3,725,190‌
36,700‌
Franklin
Electric
Co.
Inc.
............
2,998,757‌
15,500‌
Hubbell
Inc.
.....................
3,456,500‌
130,000‌
IDEX
Corp.
......................
25,980,500‌
55,000‌
Ilika
plc
†
.......................
33,469‌
15,525‌
Kimball
Electronics
Inc.
†
............
266,254‌
Shares
Market
Value
100,000‌
Mueller
Industries
Inc.
..............
$
5,944,000‌
159,000‌
Mueller
Water
Products
Inc.
,
Cl. A
.....
1,632,930‌
8,000‌
Sealed
Air
Corp.
..................
356,080‌
20,000‌
Tenaris
SA
,
ADR
..................
516,800‌
270,000‌
The
L.S.
Starrett
Co.
,
Cl. A
†
..........
2,384,100‌
80,000‌
The
Timken
Co.
...................
4,723,200‌
59,600‌
The
Weir
Group
plc
................
935,975‌
104,500‌
Watts
Water
Technologies
Inc.
,
Cl. A
....
13,138,785‌
123,628,184‌
Diversified
Industrial
—
5
.7
%
500‌
Agilent
Technologies
Inc.
............
60,775‌
214,844‌
Ampco-Pittsburgh
Corp.
†
...........
790,626‌
42,006‌
AZZ
Inc.
........................
1,533,639‌
159,100‌
Crane
Holdings
Co.
................
13,927,614‌
4,999‌
Esab
Corp.
......................
166,767‌
28,875‌
General
Electric
Co.
................
1,787,651‌
126,000‌
Greif
Inc.
,
Cl. A
...................
7,505,820‌
13,000‌
Greif
Inc.
,
Cl. B
...................
790,400‌
65,000‌
Griffon
Corp.
....................
1,918,800‌
150,000‌
Honeywell
International
Inc.
..........
25,045,500‌
29,119‌
Ingersoll
Rand
Inc.
................
1,259,688‌
88,925‌
ITT
Inc.
........................
5,810,359‌
35,000‌
Kennametal
Inc.
..................
720,300‌
50,000‌
Myers
Industries
Inc.
..............
823,500‌
30,000‌
nVent
Electric
plc
.................
948,300‌
100,000‌
Park-Ohio
Holdings
Corp.
...........
1,131,000‌
9,000‌
Proto
Labs
Inc.
†
..................
327,870‌
1,600‌
Rheinmetall
AG
...................
248,070‌
500‌
Roper
Technologies
Inc.
............
179,820‌
1,850‌
Siemens
AG
.....................
183,485‌
514,000‌
Steel
Partners
Holdings
LP
†
..........
21,331,000‌
11,000‌
Sulzer
AG
.......................
638,239‌
48,500‌
Textron
Inc.
.....................
2,825,610‌
2,500‌
The
Eastern
Co.
..................
43,375‌
100,000‌
Toray
Industries
Inc.
...............
491,812‌
43,000‌
Trane
Technologies
plc
.............
6,226,830‌
28,000‌
Tredegar
Corp.
...................
264,320‌
90,000‌
Trinity
Industries
Inc.
...............
1,921,500‌
4,000‌
Valmont
Industries
Inc.
.............
1,074,480‌
17,000‌
Vantage
Towers
AG
................
442,179‌
100,419,329‌
Health
Care
—
5
.7
%
1,000‌
10X
Genomics
Inc.
,
Cl. A
†
...........
28,480‌
10,767‌
2seventy
bio
Inc.
†
.................
156,660‌
500‌
Abbott
Laboratories
...............
48,380‌
5,700‌
AbbVie
Inc.
.....................
764,997‌
5,000‌
ACADIA
Pharmaceuticals
Inc.
†
........
81,800‌
1,736‌
Acorda
Therapeutics
Inc.
†
...........
519‌
2,000‌
Aerie
Pharmaceuticals
Inc.
†
..........
30,260‌
16,200‌
Alcon
Inc.
......................
942,516‌
500‌
Align
Technology
Inc.
†
.............
103,555‌
3
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Health
Care
(Continued)
4,000‌
Alimera
Sciences
Inc.
†
.............
$
20,320‌
7,000‌
AmerisourceBergen
Corp.
...........
947,310‌
25,000‌
Amgen
Inc.
.....................
5,635,000‌
2,764‌
Anika
Therapeutics
Inc.
†
............
65,783‌
10,901‌
Aptinyx
Inc.
†
....................
4,013‌
2,000‌
AstraZeneca
plc
..................
222,059‌
1,000‌
Avantor
Inc.
†
....................
19,600‌
76,309‌
Axogen
Inc.
†
....................
909,603‌
12,000‌
Bausch
+
Lomb
Corp.
†
.............
184,080‌
14,000‌
Baxter
International
Inc.
.............
754,040‌
1,000‌
Becton,
Dickinson
and
Co.
...........
222,830‌
1,200‌
Berkeley
Lights
Inc.
†
...............
3,432‌
6,800‌
Biogen
Inc.
†
.....................
1,815,600‌
13,600‌
BioMarin
Pharmaceutical
Inc.
†
........
1,152,872‌
1,400‌
Bio-Rad
Laboratories
Inc.
,
Cl. A
†
......
583,996‌
23,500‌
Bluebird
Bio
Inc.
†
.................
148,755‌
131,000‌
Boston
Scientific
Corp.
†
............
5,073,630‌
1,000‌
Bridgebio
Pharma
Inc.
†
.............
9,940‌
99,500‌
Bristol-Myers
Squibb
Co.
............
7,073,455‌
607‌
Calithera
Biosciences
Inc.
†
..........
1,785‌
11,000‌
Cardiovascular
Systems
Inc.
†
........
152,460‌
400‌
Charles
River
Laboratories
International
Inc.
†
........................
78,720‌
3,300‌
Cigna
Corp.
.....................
915,651‌
30,400‌
Clovis
Oncology
Inc.
†
..............
36,176‌
178,325‌
ConforMIS
Inc.
†
..................
34,096‌
33,068‌
Covetrus
Inc.
†
...................
690,460‌
1,500‌
Cutera
Inc.
†
.....................
68,400‌
6,000‌
CVS
Group
plc
...................
114,759‌
8,000‌
CytomX
Therapeutics
Inc.
†
..........
11,600‌
800‌
Dechra
Pharmaceuticals
plc
..........
23,421‌
242,000‌
Demant
A/S
†
....................
6,027,272‌
30,488‌
Eargo
Inc.
†
.....................
32,012‌
3,280‌
Edwards
Lifesciences
Corp.
†
.........
271,026‌
2,500‌
eHealth
Inc.
†
....................
9,775‌
62,000‌
ElectroCore
Inc.
†
.................
25,172‌
21,103‌
Electromed
Inc.
†
..................
216,306‌
300‌
Elevance
Health
Inc.
...............
136,272‌
200‌
Embecta
Corp.
...................
5,758‌
5,000‌
Enovis
Corp.
†
....................
230,350‌
91‌
Euroapi
SA
†
.....................
1,520‌
800‌
Eurofins
Scientific
SE
..............
47,921‌
3,000‌
Evolus
Inc.
†
.....................
24,150‌
13,840‌
Exact
Sciences
Corp.
†
..............
449,662‌
3,100‌
Fresenius
SE
&
Co.
KGaA
............
66,687‌
2,000‌
G1
Therapeutics
Inc.
†
..............
24,980‌
5,000‌
Galapagos
NV
,
ADR
†
...............
213,200‌
1,390‌
Gerresheimer
AG
.................
68,522‌
6,250‌
Gilead
Sciences
Inc.
...............
385,563‌
16,183‌
Ginkgo
Bioworks
Holdings
Inc.
†
.......
50,491‌
Shares
Market
Value
5,201‌
Glaukos
Corp.
†
...................
$
276,901‌
35,919‌
GoodRx
Holdings
Inc.
,
Cl. A
†
.........
167,742‌
2,000‌
Gritstone
bio
Inc.
†
................
5,140‌
2,500‌
Guardant
Health
Inc.
†
..............
134,575‌
1,000‌
Haemonetics
Corp.
†
...............
74,030‌
6,050‌
HCA
Healthcare
Inc.
...............
1,111,930‌
73,000‌
Henry
Schein
Inc.
†
................
4,801,210‌
1,400‌
Hologic
Inc.
†
....................
90,328‌
50‌
ICU
Medical
Inc.
†
.................
7,530‌
3,400‌
Idorsia
Ltd.
†
.....................
44,313‌
200‌
Illumina
Inc.
†
....................
38,158‌
7,600‌
Incyte
Corp.
†
....................
506,464‌
46,800‌
Indivior
plc
†
.....................
148,507‌
1,374‌
Inogen
Inc.
†
.....................
33,361‌
1,500‌
Intellia
Therapeutics
Inc.
†
...........
83,940‌
14,000‌
Intercept
Pharmaceuticals
Inc.
†
.......
195,300‌
555‌
Intuitive
Surgical
Inc.
†
..............
104,029‌
27,000‌
Invitae
Corp.
†
....................
66,420‌
2,200‌
iRhythm
Technologies
Inc.
†
..........
275,616‌
30,700‌
Johnson
&
Johnson
...............
5,015,152‌
7,000‌
Jounce
Therapeutics
Inc.
†
...........
16,380‌
1,500‌
Koninklijke
DSM
NV
...............
172,660‌
400‌
Laboratory
Corp.
of
America
Holdings
...
81,924‌
12,569‌
Lannett
Co.
Inc.
†
.................
5,656‌
1,833‌
Larimar
Therapeutics
Inc.
†
..........
5,866‌
2,000‌
LeMaitre
Vascular
Inc.
..............
101,360‌
6,750‌
Marinus
Pharmaceuticals
Inc.
†
........
44,887‌
10,500‌
Medmix
AG
.....................
183,779‌
700‌
Medpace
Holdings
Inc.
†
............
110,019‌
101,700‌
Merck
&
Co.
Inc.
..................
8,758,404‌
2,000‌
Meridian
Bioscience
Inc.
†
...........
63,060‌
200‌
Moderna
Inc.
†
...................
23,650‌
3,000‌
NanoString
Technologies
Inc.
†
........
38,310‌
1,000‌
Natera
Inc.
†
.....................
43,820‌
6,000‌
Nektar
Therapeutics
†
..............
19,200‌
1,000‌
Neogen
Corp.
†
...................
13,970‌
4,000‌
NeoGenomics
Inc.
†
................
34,440‌
121,203‌
Neuronetics
Inc.
†
.................
385,426‌
2,000‌
Nevro
Corp.
†
....................
93,200‌
1,275‌
Novartis
AG
.....................
97,599‌
77,500‌
Novartis
AG
,
ADR
.................
5,890,775‌
7,900‌
NuVasive
Inc.
†
...................
346,099‌
4,000‌
Odonate
Therapeutics
Inc.
†
..........
6,000‌
77,725‌
Option
Care
Health
Inc.
†
............
2,446,006‌
25,000‌
OraSure
Technologies
Inc.
†
..........
94,750‌
24,375‌
Organogenesis
Holdings
Inc.
†
........
78,975‌
130‌
Organon
&
Co.
...................
3,042‌
5,000‌
Orthofix
Medical
Inc.
†
..............
95,550‌
600‌
PerkinElmer
Inc.
..................
72,198‌
48,000‌
Perrigo
Co.
plc
...................
1,711,680‌
2,200‌
Personalis
Inc.
†
..................
6,534‌
2,000‌
Pfizer
Inc.
......................
87,520‌
4
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Health
Care
(Continued)
8,500‌
Puma
Biotechnology
Inc.
†
...........
$
20,145‌
1,500‌
QIAGEN
NV
†
....................
61,920‌
500‌
Quest
Diagnostics
Inc.
..............
61,345‌
2,400‌
QuidelOrtho
Corp.
†
................
171,552‌
1,500‌
Quince
Therapeutics
Inc.
†
...........
1,995‌
300‌
Repligen
Corp.
†
..................
56,133‌
390‌
Replimune
Group
Inc.
†
.............
6,735‌
27,064‌
ReWalk
Robotics
Ltd.
†
.............
24,038‌
650‌
Roche
Holding
AG,
Genusschein
.......
213,076‌
2,374‌
Rockwell
Medical
Inc.
†
.............
3,134‌
3,000‌
Sangamo
Therapeutics
Inc.
†
.........
14,700‌
2,100‌
Sanofi
.........................
161,355‌
17,500‌
Sema4
Holdings
Corp.
†
.............
15,356‌
1,000‌
Siemens
Healthineers
AG
............
43,397‌
2,596‌
Sio
Gene
Therapies
Inc.
†
............
727‌
164,001‌
SmileDirectClub
Inc.
†
..............
148,487‌
10,000‌
Standard
BioTools
Inc.
†
.............
11,000‌
10,115‌
Tactile
Systems
Technology
Inc.
†
......
78,796‌
3,000‌
Takeda
Pharmaceutical
Co.
Ltd.
.......
78,083‌
2,000‌
Tandem
Diabetes
Care
Inc.
†
..........
95,700‌
6,000‌
Teladoc
Health
Inc.
†
...............
152,100‌
11,000‌
Teva
Pharmaceutical
Industries
Ltd.
,
ADR
†
88,770‌
15,700‌
Tristel
plc
.......................
57,848‌
36,690‌
UnitedHealth
Group
Inc.
............
18,529,918‌
11,996‌
Valeritas
Holdings
Inc.
†
(a)
...........
0‌
10,000‌
Vapotherm
Inc.
†
..................
15,700‌
5,760‌
Vericel
Corp.
†
....................
133,632‌
1,050‌
Vertex
Pharmaceuticals
Inc.
†
.........
304,017‌
6,000‌
Viatris
Inc.
......................
51,120‌
4,000‌
Waters
Corp.
†
...................
1,078,120‌
16,600‌
Zimmer
Biomet
Holdings
Inc.
.........
1,735,530‌
2,960‌
Zimvie
Inc.
†
.....................
29,215‌
24,820‌
Zoetis
Inc.
......................
3,680,558‌
608‌
Zosano
Pharma
Corp.
†
.............
67‌
98,855,306‌
Consumer
Products
—
4
.8
%
41,575‌
American
Outdoor
Brands
Inc.
†
.......
364,613‌
13,100‌
Christian
Dior
SE
.................
7,645,419‌
27,000‌
Church
&
Dwight
Co.
Inc.
...........
1,928,880‌
205,000‌
Edgewell
Personal
Care
Co.
..........
7,667,000‌
87,000‌
Energizer
Holdings
Inc.
.............
2,187,180‌
35,500‌
Essity
AB
,
Cl. B
...................
706,312‌
2,100‌
Givaudan
SA
....................
6,391,304‌
80,000‌
Hanesbrands
Inc.
.................
556,800‌
23,800‌
Harley-Davidson
Inc.
...............
830,144‌
1,270‌
Hermes
International
...............
1,514,756‌
500‌
Hunter
Douglas
NV
†
...............
85,656‌
2,200‌
Johnson
Outdoors
Inc.
,
Cl. A
.........
112,882‌
7,959‌
Kimball
International
Inc.
,
Cl. B
........
50,062‌
Shares
Market
Value
25,000‌
Mattel
Inc.
†
.....................
$
473,500‌
13,000‌
National
Presto
Industries
Inc.
........
845,650‌
13,000‌
Oil-Dri
Corp.
of
America
.............
314,600‌
49,900‌
Reckitt
Benckiser
Group
plc
..........
3,329,579‌
6,000‌
Spectrum
Brands
Holdings
Inc.
.......
234,180‌
27,600‌
Svenska
Cellulosa
AB
SCA
,
Cl. B
.......
353,156‌
4,700,000‌
Swedish
Match
AB
................
46,586,439‌
3,400‌
The
Estee
Lauder
Companies
Inc.
,
Cl. A
..
734,060‌
4,280‌
Unilever
plc
.....................
189,672‌
5,100‌
Zalando
SE
†
(b)
...................
101,115‌
83,202,959‌
Automotive:
Parts
and
Accessories
—
4
.5
%
5,000‌
Aptiv
plc
†
......................
391,050‌
89,600‌
BorgWarner
Inc.
..................
2,813,440‌
345,900‌
Dana
Inc.
.......................
3,953,637‌
26,000‌
Garrett
Motion
Inc.
†
...............
146,900‌
214,200‌
Genuine
Parts
Co.
.................
31,984,344‌
300,500‌
Modine
Manufacturing
Co.
†
..........
3,888,470‌
42,800‌
O'Reilly
Automotive
Inc.
†
............
30,103,380‌
105,000‌
Standard
Motor
Products
Inc.
........
3,412,500‌
24,000‌
Strattec
Security
Corp.
†
.............
499,200‌
110,000‌
Superior
Industries
International
Inc.
†
...
332,200‌
15,000‌
Tenneco
Inc.
,
Cl. A
†
...............
260,850‌
77,785,971‌
Energy
and
Utilities
—
4
.2
%
45,000‌
APA
Corp.
......................
1,538,550‌
50,000‌
Avangrid
Inc.
....................
2,085,000‌
23,000‌
Baker
Hughes
Co.
.................
482,080‌
21,000‌
BP
plc
,
ADR
.....................
599,550‌
16,000‌
CMS
Energy
Corp.
................
931,840‌
183,100‌
ConocoPhillips
...................
18,738,454‌
11,190‌
Electricite
de
France
SA
.............
130,395‌
98,400‌
Enbridge
Inc.
....................
3,650,640‌
51,000‌
Energy
Transfer
LP
................
562,530‌
73,700‌
Enterprise
Products
Partners
LP
.......
1,752,586‌
1,500‌
Eos
Energy
Enterprises
Inc.
†
.........
2,505‌
48,000‌
Evergy
Inc.
......................
2,851,200‌
40,000‌
Eversource
Energy
................
3,118,400‌
44,000‌
Exxon
Mobil
Corp.
................
3,841,640‌
250,000‌
Halliburton
Co.
...................
6,155,000‌
57,500‌
Kinder
Morgan
Inc.
................
956,800‌
4,000‌
Marathon
Oil
Corp.
................
90,320‌
8,000‌
Marathon
Petroleum
Corp.
...........
794,640‌
46,500‌
National
Fuel
Gas
Co.
..............
2,862,075‌
42,500‌
NextEra
Energy
Inc.
................
3,332,425‌
53,500‌
NextEra
Energy
Partners
LP
..........
3,868,585‌
4,000‌
Niko
Resources
Ltd.
†
..............
11‌
21,500‌
Occidental
Petroleum
Corp.
..........
1,321,175‌
115,000‌
Oceaneering
International
Inc.
†
.......
915,400‌
90,000‌
PG&E
Corp.
†
....................
1,125,000‌
17,000‌
Phillips
66
......................
1,372,240‌
5
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Energy
and
Utilities
(Continued)
25,000‌
Portland
General
Electric
Co.
.........
$
1,086,500‌
70,000‌
RPC
Inc.
.......................
485,100‌
47,000‌
Schlumberger
NV
.................
1,687,300‌
41,000‌
Southwest
Gas
Holdings
Inc.
.........
2,859,750‌
100,000‌
The
AES
Corp.
...................
2,260,000‌
2,280‌
TotalEnergies
SE
..................
107,871‌
34,000‌
UGI
Corp.
.......................
1,099,220‌
72,664,782‌
Entertainment
—
4
.1
%
30,800‌
Activision
Blizzard
Inc.
..............
2,289,672‌
20,158‌
Charter
Communications
Inc.
,
Cl. A
†
....
6,114,929‌
2,000‌
Electronic
Arts
Inc.
................
231,420‌
90,000‌
Genting
Singapore
Ltd.
.............
49,191‌
816,000‌
Grupo
Televisa
SAB
,
ADR
............
4,390,080‌
35,000‌
IMAX
Corp.
†
....................
494,200‌
9,000‌
International
Game
Technology
plc
.....
142,200‌
95,500‌
Liberty
Media
Corp.-
Liberty
Braves
,
Cl. A
†
2,688,325‌
160,208‌
Liberty
Media
Corp.-
Liberty
Braves
,
Cl. C
†
4,405,720‌
3,500‌
Light
&
Wonder
Inc.
†
..............
150,080‌
12,000‌
Lions
Gate
Entertainment
Corp.
,
Cl. B
†
..
83,400‌
142,394‌
Madison
Square
Garden
Entertainment
Corp.
†
.......................
6,278,151‌
96,567‌
Madison
Square
Garden
Sports
Corp.
†
..
13,196,846‌
2,170‌
Netflix
Inc.
†
.....................
510,905‌
394,000‌
Paramount
Global
,
Cl. A
.............
8,486,760‌
46,000‌
Paramount
Global
,
Cl. B
.............
875,840‌
15,000‌
Rovio
Entertainment
Oyj
............
83,721‌
12,000‌
Take-Two
Interactive
Software
Inc.
†
....
1,308,000‌
40,000‌
TBS
Holdings
Inc.
.................
437,504‌
109,050‌
The
Walt
Disney
Co.
†
..............
10,286,687‌
7,600‌
Ubisoft
Entertainment
SA
†
...........
210,938‌
60,000‌
Universal
Entertainment
Corp.
†
.......
773,578‌
41,000‌
Universal
Music
Group
NV
...........
776,558‌
466,000‌
Vivendi
SE
......................
3,640,839‌
268,447‌
Warner
Bros
Discovery
Inc.
†
.........
3,087,141‌
1,700‌
Xilam
Animation
SA
†
...............
53,315‌
71,046,000‌
Machinery
—
3
.9
%
25,000‌
Astec
Industries
Inc.
...............
779,750‌
12,800‌
Caterpillar
Inc.
...................
2,100,224‌
339,610‌
CNH
Industrial
NV
.................
3,793,444‌
135,500‌
Deere
&
Co.
.....................
45,242,095‌
6,688‌
Regal
Rexnord
Corp.
...............
938,727‌
167,000‌
Xylem
Inc.
......................
14,589,120‌
67,443,360‌
Business
Services
—
3
.7
%
10,000‌
Allegion
plc
.....................
896,800‌
9,100‌
Applus
Services
SA
................
51,147‌
Shares
Market
Value
425,000‌
Clear
Channel
Outdoor
Holdings
Inc.
†
...
$
582,250‌
190,000‌
Diebold
Nixdorf
Inc.
†
..............
463,600‌
3,000‌
Edenred
........................
139,246‌
2,000‌
ICF
International
Inc.
...............
218,040‌
16,000‌
Jardine
Matheson
Holdings
Ltd.
.......
810,240‌
11,000‌
Lamar
Advertising
Co.
,
Cl. A,
REIT
.....
907,390‌
156,230‌
Mastercard
Inc.
,
Cl. A
..............
44,422,438‌
104,000‌
Network
International
Holdings
plc
†
....
351,847‌
400,000‌
Paysafe
Ltd.
†
....................
552,000‌
160,500‌
Resideo
Technologies
Inc.
†
..........
3,059,130‌
1,220,000‌
Steel
Connect
Inc.
†
................
1,671,400‌
209,000‌
The
Interpublic
Group
of
Companies
Inc.
.
5,350,400‌
10,000‌
United
Parcel
Service
Inc.
,
Cl. B
.......
1,615,400‌
5,000‌
Viad
Corp.
†
.....................
157,900‌
12,500‌
Visa
Inc.
,
Cl. A
...................
2,220,625‌
20,000‌
Willdan
Group
Inc.
†
...............
296,200‌
4,500‌
Worldline
SA
†
...................
179,408‌
63,945,461‌
Consumer
Services
—
3
.0
%
10,700‌
Amazon.com
Inc.
†
................
1,209,100‌
383,500‌
Bollore
SE
......................
1,774,760‌
2,000‌
Deutsche
Post
AG
.................
60,988‌
11,000‌
eBay
Inc.
.......................
404,910‌
36,200‌
IAC
Inc.
†
.......................
2,004,756‌
58,900‌
Matthews
International
Corp.
,
Cl. A
.....
1,319,949‌
1,242,000‌
Rollins
Inc.
......................
43,072,560‌
62,386‌
Terminix
Global
Holdings
Inc.
†
........
2,388,760‌
4,000‌
Travel
+
Leisure
Co.
................
136,480‌
550,000‌
Vroom
Inc.
†
.....................
638,000‌
53,010,263‌
Environmental
Services
—
2
.9
%
5,000‌
Clean
Harbors
Inc.
†
...............
549,900‌
30,000‌
Pentair
plc
......................
1,218,900‌
220,000‌
Republic
Services
Inc.
..............
29,928,800‌
15,620‌
Veolia
Environnement
SA
............
301,728‌
110,100‌
Waste
Management
Inc.
............
17,639,121‌
29,500‌
Zurn
Elkay
Water
Solutions
Corp.
......
722,750‌
50,361,199‌
Retail
—
2
.8
%
5,500‌
ASOS
plc
†
......................
34,943‌
58,400‌
AutoNation
Inc.
†
..................
5,949,208‌
5,000‌
BARK
Inc.
†
.....................
9,100‌
5,000‌
Casey's
General
Stores
Inc.
..........
1,012,600‌
10,500‌
Copart
Inc.
†
.....................
1,117,200‌
33,590‌
Costco
Wholesale
Corp.
.............
15,863,549‌
93,400‌
CVS
Health
Corp.
.................
8,907,558‌
17,000‌
Lowe's
Companies
Inc.
.............
3,192,770‌
125,000‌
Macy's
Inc.
.....................
1,958,750‌
1,500‌
Petco
Health
&
Wellness
Co.
Inc.
†
.....
16,740‌
99,065‌
PetIQ
Inc.
†
......................
683,549‌
6
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Retail
(Continued)
15,000‌
Pets
at
Home
Group
plc
.............
$
44,215‌
140,000‌
Qurate
Retail
Inc.
,
Cl. A
.............
281,400‌
35,000‌
Sally
Beauty
Holdings
Inc.
†
..........
441,000‌
14,900‌
Shake
Shack
Inc.
,
Cl. A
†
............
670,202‌
117,000‌
The
Wendy's
Co.
..................
2,186,730‌
60,000‌
Walgreens
Boots
Alliance
Inc.
........
1,884,000‌
30,000‌
Walmart
Inc.
....................
3,891,000‌
48,144,514‌
Electronics
—
2
.7
%
6,400‌
ams-OSRAM
AG
†
.................
40,513‌
23,000‌
Arlo
Technologies
Inc.
†
.............
106,720‌
40,600‌
Bel
Fuse
Inc.
,
Cl. A
................
1,134,770‌
62,991‌
Bel
Fuse
Inc.
,
Cl. B
................
1,590,523‌
135,000‌
Flex
Ltd.
†
.......................
2,249,100‌
4,000‌
Hitachi
Ltd.
,
ADR
.................
340,480‌
58,500‌
Intel
Corp.
......................
1,507,545‌
33,000‌
Koninklijke
Philips
NV
..............
507,870‌
1,300‌
Mettler-Toledo
International
Inc.
†
......
1,409,356‌
250,000‌
Mirion
Technologies
Inc.
†
...........
1,867,500‌
30,000‌
Plug
Power
Inc.
†
.................
630,300‌
22,000‌
Sony
Group
Corp.
,
ADR
.............
1,409,100‌
40,000‌
TE
Connectivity
Ltd.
...............
4,414,400‌
184,200‌
Texas
Instruments
Inc.
.............
28,510,476‌
900‌
Thermo
Fisher
Scientific
Inc.
.........
456,471‌
1,000‌
Universal
Display
Corp.
.............
94,350‌
8,000‌
Vishay
Precision
Group
Inc.
†
.........
236,720‌
46,506,194‌
Cable
and
Satellite
—
2
.1
%
60,000‌
AMC
Networks
Inc.
,
Cl. A
†
...........
1,218,000‌
215,980‌
Comcast
Corp.
,
Cl. A
...............
6,334,694‌
48,642‌
DISH
Network
Corp.
,
Cl. A
†
..........
672,719‌
112,141‌
EchoStar
Corp.
,
Cl. A
†
..............
1,846,962‌
147,605‌
Liberty
Global
plc
,
Cl. A
†
............
2,301,162‌
349,064‌
Liberty
Global
plc
,
Cl. C
†
............
5,759,556‌
82,012‌
Liberty
Latin
America
Ltd.
,
Cl. A
†
......
507,654‌
6,625‌
Liberty
Latin
America
Ltd.
,
Cl. C
†
......
40,744‌
377,500‌
Rogers
Communications
Inc.
,
Cl. B
.....
14,548,850‌
158,000‌
Shaw
Communications
Inc.
,
Cl. B
......
3,842,560‌
37,072,901‌
Computer
Software
and
Services
—
1
.9
%
10,000‌
3D
Systems
Corp.
†
................
79,800‌
330‌
Adobe
Inc.
†
.....................
90,816‌
1,000‌
Alibaba
Group
Holding
Ltd.
,
ADR
†
.....
79,990‌
17,000‌
Alphabet
Inc.
,
Cl. A
†
...............
1,626,050‌
115,060‌
Alphabet
Inc.
,
Cl. C
†
...............
11,063,019‌
2,200‌
Atos
SE
†
.......................
17,594‌
400‌
Autodesk
Inc.
†
...................
74,720‌
11,000‌
Avid
Technology
Inc.
†
..............
255,860‌
Shares
Market
Value
25,000‌
Black
Knight
Inc.
†
.................
$
1,618,250‌
7,500‌
Check
Point
Software
Technologies
Ltd.
†
.
840,150‌
1,740‌
Cloudflare
Inc.
,
Cl. A
†
..............
96,239‌
670‌
CrowdStrike
Holdings
Inc.
,
Cl. A
†
......
110,423‌
5,000‌
Digital
Turbine
Inc.
†
...............
72,050‌
2,000‌
Fidelity
National
Information
Services
Inc.
151,140‌
17,020‌
Fiserv
Inc.
†
.....................
1,592,561‌
2,000‌
Fortinet
Inc.
†
....................
98,260‌
90,000‌
Hewlett
Packard
Enterprise
Co.
........
1,078,200‌
66,400‌
HireRight
Holdings
Corp.
†
...........
1,013,264‌
47,000‌
I3
Verticals
Inc.
,
Cl. A
†
.............
941,410‌
38,000‌
Kyndryl
Holdings
Inc.
†
.............
314,260‌
14,100‌
Meta
Platforms
Inc.
,
Cl. A
†
..........
1,913,088‌
4,000‌
Micron
Technology
Inc.
.............
200,400‌
4,870‌
Microsoft
Corp.
..................
1,134,223‌
4,000‌
MKS
Instruments
Inc.
..............
330,560‌
32,400‌
N-able
Inc.
†
.....................
299,052‌
12,000‌
NCR
Corp.
†
.....................
228,120‌
5,000‌
NortonLifeLock
Inc.
................
100,700‌
1,370‌
NVIDIA
Corp.
....................
166,304‌
8,000‌
Oracle
Corp.
.....................
488,560‌
140,000‌
Oxford
Metrics
plc
................
128,180‌
37,500‌
PAR
Technology
Corp.
†
.............
1,107,375‌
20,000‌
Playtech
plc
†
....................
98,614‌
4,700‌
PSI
Software
AG
..................
90,374‌
200‌
Qualtrics
International
Inc.
,
Cl. A
†
......
2,036‌
18,000‌
Rockwell
Automation
Inc.
...........
3,871,980‌
700‌
Salesforce
Inc.
†
..................
100,688‌
1,800‌
SAP
SE
,
ADR
....................
146,250‌
455‌
ServiceNow
Inc.
†
.................
171,813‌
540‌
Snowflake
Inc.
,
Cl. A
†
..............
91,778‌
21,000‌
SolarWinds
Corp.
†
................
162,750‌
400‌
Splunk
Inc.
†
.....................
30,080‌
1,300‌
Temenos
AG
.....................
88,854‌
4,000‌
Twitter
Inc.
†
.....................
175,360‌
5,000‌
Unity
Software
Inc.
†
...............
159,300‌
400‌
Veeva
Systems
Inc.
,
Cl. A
†
...........
65,952‌
73,000‌
Vimeo
Inc.
†
.....................
292,000‌
7,700‌
VMware
Inc.
,
Cl. A
................
819,742‌
2,100‌
ZoomInfo
Technologies
Inc.
†
.........
87,486‌
400‌
Zscaler
Inc.
†
....................
65,748‌
33,831,423‌
Aerospace
and
Defense
—
1
.8
%
214,000‌
Aerojet
Rocketdyne
Holdings
Inc.
†
.....
8,557,860‌
1,400‌
Airbus
SE
.......................
121,963‌
15,000‌
Avio
SpA
.......................
135,100‌
22,000‌
BAE
Systems
plc
..................
194,007‌
14,000‌
Howmet
Aerospace
Inc.
.............
433,020‌
500‌
IQVIA
Holdings
Inc.
†
...............
90,570‌
44,700‌
Kaman
Corp.
....................
1,248,471‌
4,000‌
Kratos
Defense
&
Security
Solutions
Inc.
†
40,640‌
7
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Aerospace
and
Defense
(Continued)
13,000‌
L3Harris
Technologies
Inc.
...........
$
2,701,790‌
17,300‌
Northrop
Grumman
Corp.
...........
8,136,536‌
3,915,666‌
Rolls-Royce
Holdings
plc
†
...........
3,042,500‌
1,500‌
Thales
SA
......................
166,119‌
58,000‌
The
Boeing
Co.
†
..................
7,022,640‌
31,891,216‌
Broadcasting
—
1
.7
%
2,000‌
Cogeco
Inc.
.....................
79,777‌
24,000‌
Corus
Entertainment
Inc.,
OTC
,
Cl. B
.....................
41,088‌
131,400‌
Fox
Corp.
,
Cl. A
...................
4,031,352‌
60,000‌
Fox
Corp.
,
Cl. B
...................
1,710,000‌
16,000‌
Gray
Television
Inc.
................
229,120‌
19,250‌
Liberty
Broadband
Corp.
,
Cl. A
†
.......
1,436,050‌
73,172‌
Liberty
Broadband
Corp.
,
Cl. C
†
.......
5,400,094‌
35,333‌
Liberty
Media
Corp.-
Liberty
Formula
One
,
Cl. A
†
........................
1,855,689‌
34,750‌
Liberty
Media
Corp.-
Liberty
Formula
One
,
Cl. C
†
........................
2,032,875‌
55,000‌
Liberty
Media
Corp.-
Liberty
SiriusXM
,
Cl. A
†
........................
2,093,850‌
163,449‌
Liberty
Media
Corp.-
Liberty
SiriusXM
,
Cl. C
†
........................
6,163,662‌
20,000‌
Nexstar
Media
Group
Inc.
...........
3,337,000‌
95,000‌
Sinclair
Broadcast
Group
Inc.
,
Cl. A
.....
1,718,550‌
80,000‌
Television
Broadcasts
Ltd.
†
..........
35,466‌
30,164,573‌
Hotels
and
Gaming
—
1
.5
%
109,500‌
888
Holdings
plc
..................
114,437‌
16,000‌
Accor
SA
†
......................
338,862‌
76,000‌
Bally's
Corp.
†
....................
1,501,760‌
18,000‌
Better
Collective
A/S
†
..............
229,184‌
15,000‌
Caesars
Entertainment
Inc.
†
..........
483,900‌
76,500‌
Entain
plc
.......................
927,619‌
2,500‌
Flutter
Entertainment
plc
†
...........
277,407‌
2,000‌
Frontier
Developments
plc
†
..........
29,879‌
26,000‌
Gambling.com
Group
Ltd.
†
..........
197,600‌
33,700‌
GAN
Ltd.
†
......................
74,814‌
96,000‌
Genius
Sports
Ltd.
†
...............
352,320‌
7,000‌
Hyatt
Hotels
Corp.
,
Cl. A
†
...........
566,720‌
14,500‌
Las
Vegas
Sands
Corp.
†
............
544,040‌
4,213,500‌
Mandarin
Oriental
International
Ltd.
†
...
7,921,380‌
10,000‌
Marriott
International
Inc.
,
Cl. A
.......
1,401,400‌
70,000‌
MGM
China
Holdings
Ltd.
†
..........
38,702‌
76,000‌
MGM
Resorts
International
..........
2,258,720‌
6,000‌
Penn
Entertainment
Inc.
†
............
165,060‌
25,000‌
PlayAGS
Inc.
†
...................
132,500‌
114,800‌
Ryman
Hospitality
Properties
Inc.
,
REIT
.
8,448,132‌
200,000‌
The
Hongkong
&
Shanghai
Hotels
Ltd.
†
.
173,256‌
Shares
Market
Value
4,000‌
Wyndham
Hotels
&
Resorts
Inc.
.......
$
245,400‌
7,400‌
Wynn
Resorts
Ltd.
†
...............
466,422‌
26,889,514‌
Building
and
Construction
—
1
.5
%
27,000‌
Arcosa
Inc.
......................
1,543,860‌
4,500‌
Ashtead
Group
plc
................
205,300‌
18,000‌
Assa
Abloy
AB
,
Cl. B
...............
340,126‌
22,800‌
Canfor
Corp.
†
....................
331,928‌
4,000‌
Cie
de
Saint-Gobain
................
145,243‌
44,500‌
Fortune
Brands
Home
&
Security
Inc.
...
2,389,205‌
29,025‌
Gencor
Industries
Inc.
†
.............
261,515‌
2,500‌
H&E
Equipment
Services
Inc.
.........
70,850‌
61,148‌
Herc
Holdings
Inc.
................
6,352,054‌
35,200‌
Ibstock
plc
......................
64,535‌
215,814‌
Johnson
Controls
International
plc
.....
10,622,365‌
20,000‌
KBR
Inc.
.......................
864,400‌
20,000‌
PGT
Innovations
Inc.
†
..............
419,200‌
12,000‌
Sika
AG
........................
2,440,864‌
105,000‌
Sitios
Latinoamerica
SAB
de
CV
†
......
47,809‌
3,000‌
Vulcan
Materials
Co.
...............
473,130‌
26,572,384‌
Specialty
Chemicals
—
1
.5
%
11,000‌
AdvanSix
Inc.
....................
353,100‌
1,600‌
Covestro
AG
.....................
46,321‌
128,000‌
DuPont
de
Nemours
Inc.
............
6,451,200‌
26,000‌
FMC
Corp.
......................
2,748,200‌
15,000‌
H.B.
Fuller
Co.
...................
901,500‌
60,500‌
International
Flavors
&
Fragrances
Inc.
..
5,495,215‌
2,800‌
Johnson
Matthey
plc
...............
57,290‌
450‌
Linde
plc
.......................
121,315‌
119,900‌
Sensient
Technologies
Corp.
.........
8,313,866‌
13,000‌
SGL
Carbon
SE
†
..................
76,444‌
2,000‌
The
Chemours
Co.
................
49,300‌
580‌
The
Sherwin-Williams
Co.
...........
118,755‌
12,500‌
Treatt
plc
.......................
82,346‌
26,000‌
Valvoline
Inc.
....................
658,840‌
25,473,692‌
Telecommunications
—
1
.4
%
26,000‌
AT&T
Inc.
.......................
398,840‌
55,400‌
BCE
Inc.
........................
2,323,476‌
874,200‌
BT
Group
plc
,
Cl. A
................
1,184,483‌
7,040,836‌
Cable
&
Wireless
Jamaica
Ltd.
†
(a)
.....
53,710‌
6,000‌
Cisco
Systems
Inc.
................
240,000‌
27,000‌
Comtech
Telecommunications
Corp.
....
270,270‌
29,180‌
Deutsche
Telekom
AG
..............
500,234‌
125,000‌
Deutsche
Telekom
AG
,
ADR
..........
2,132,500‌
36,000‌
Hellenic
Telecommunications
Organization
SA
..........................
523,935‌
15,000‌
Hellenic
Telecommunications
Organization
SA
,
ADR
......................
105,075‌
8
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Telecommunications
(Continued)
264,732‌
Koninklijke
KPN
NV
................
$
719,197‌
1,100,000‌
NII
Holdings
Inc.,
Escrow
†
...........
385,000‌
16,000‌
Oi
SA
,
ADR
†
.....................
3‌
4,267‌
Oi
SA
,
Cl.
C,
ADR
.................
427‌
13,500‌
SoftBank
Group
Corp.
..............
457,058‌
21,000‌
Telecom
Argentina
SA
,
ADR
..........
84,210‌
495,000‌
Telecom
Italia
SpA
†
................
92,319‌
70,000‌
Telefonica
Brasil
SA
,
ADR
...........
526,400‌
340,000‌
Telefonica
SA
,
ADR
................
1,101,600‌
501,000‌
Telephone
and
Data
Systems
Inc.
......
6,963,900‌
50,000‌
TELUS
Corp.
....................
992,869‌
46,075‌
TIM
SA
,
ADR
....................
515,118‌
76,000‌
VEON
Ltd.
,
ADR
†
.................
24,320‌
98,000‌
Verizon
Communications
Inc.
.........
3,721,060‌
174,000‌
Vodafone
Group
plc
...............
196,456‌
91,100‌
Vodafone
Group
plc
,
ADR
...........
1,032,163‌
24,544,623‌
Aviation:
Parts
and
Services
—
1
.2
%
35,000‌
Astronics
Corp.
†
..................
275,100‌
146,800‌
Curtiss-Wright
Corp.
...............
20,428,688‌
20,703,788‌
Real
Estate
—
1
.0
%
790‌
American
Tower
Corp.
,
REIT
..........
169,613‌
8,000‌
Bresler
&
Reiner
Inc.
†
..............
249‌
10,267‌
Gaming
and
Leisure
Properties
Inc.
,
REIT
454,212‌
57,000‌
Indus
Realty
Trust
Inc.
,
REIT
.........
2,985,090‌
17,000‌
Rayonier
Inc.
,
REIT
................
509,490‌
60,000‌
Seritage
Growth
Properties
,
Cl. A,
REIT
†
.
541,200‌
10,000‌
Tejon
Ranch
Co.
†
.................
144,000‌
318,000‌
The
St.
Joe
Co.
...................
10,185,540‌
65,000‌
VICI
Properties
Inc.
,
REIT
...........
1,940,250‌
10,000‌
Weyerhaeuser
Co.
,
REIT
............
285,600‌
17,215,244‌
Agriculture
—
0
.9
%
183,500‌
Archer-Daniels-Midland
Co.
..........
14,762,575‌
7,000‌
The
Mosaic
Co.
...................
338,310‌
15,100,885‌
Transportation
—
0
.8
%
100,000‌
Fortress
Transportation
and
Infrastructure
Investors
LLC
,
Cl. A
..............
1,499,500‌
340,000‌
FTAI
Infrastructure
Inc.
†
............
816,000‌
130,200‌
GATX
Corp.
.....................
11,086,530‌
23,000‌
TravelCenters
of
America
Inc.
†
........
1,240,390‌
500‌
Union
Pacific
Corp.
................
97,410‌
14,739,830‌
Metals
and
Mining
—
0
.8
%
37,400‌
Agnico
Eagle
Mines
Ltd.
............
1,579,402‌
Shares
Market
Value
200‌
Alliance
Resource
Partners
LP
........
$
4,580‌
41,000‌
Barrick
Gold
Corp.
................
635,500‌
30,000‌
Cleveland-Cliffs
Inc.
†
...............
404,100‌
124,500‌
Freeport-McMoRan
Inc.
.............
3,402,585‌
25,239‌
Livent
Corp.
†
....................
773,575‌
4,000‌
Materion
Corp.
...................
320,000‌
50,000‌
New
Hope
Corp.
Ltd.
...............
201,170‌
136,000‌
Newmont
Corp.
..................
5,716,080‌
60,000‌
TimkenSteel
Corp.
†
................
899,400‌
10,000‌
Vale
SA
,
ADR
....................
133,200‌
14,069,592‌
Automotive
—
0
.7
%
15,850‌
Daimler
Truck
Holding
AG
†
..........
362,714‌
133,500‌
General
Motors
Co.
................
4,284,015‌
87,000‌
Iveco
Group
NV
†
.................
415,237‌
3,700‌
Mercedes-Benz
Group
AG
...........
189,831‌
70,000‌
PACCAR
Inc.
....................
5,858,300‌
50,000‌
Piaggio
&
C
SpA
..................
101,729‌
35,000‌
Stellantis
NV
....................
414,400‌
700‌
Tesla
Inc.
†
......................
185,675‌
8,000‌
The
Shyft
Group
Inc.
...............
163,440‌
1,930‌
Toyota
Motor
Corp.
,
ADR
............
251,460‌
42,000‌
Traton
SE
.......................
503,824‌
12,730,625‌
Communications
Equipment
—
0
.6
%
12,350‌
Apple
Inc.
......................
1,706,770‌
3,250‌
Arista
Networks
Inc.
†
..............
366,892‌
233,000‌
Corning
Inc.
.....................
6,761,660‌
133,932‌
Edgio
Inc.
†
......................
372,331‌
2,500‌
Motorola
Solutions
Inc.
.............
559,925‌
4,500‌
QUALCOMM
Inc.
.................
508,410‌
12,500‌
Telefonaktiebolaget
LM
Ericsson
,
Cl. B
..
73,766‌
63,000‌
Telesat
Corp.
†
...................
492,030‌
10,841,784‌
Wireless
Communications
—
0
.6
%
105,000‌
America
Movil
SAB
de
CV
,
Cl. L,
ADR
...
1,729,350‌
10,000‌
Anterix
Inc.
†
.....................
357,200‌
98,000‌
Millicom
International
Cellular
SA
,
SDR
†
.
1,132,537‌
105,000‌
Operadora
De
Sites
Mexicanos
SAB
de
CV
87,902‌
32,400‌
T-Mobile
US
Inc.
†
.................
4,347,108‌
95,000‌
United
States
Cellular
Corp.
†
.........
2,472,850‌
10,126,947‌
Manufactured
Housing
and
Recreational
Vehicles
—
0
.3
%
1,860‌
Cavco
Industries
Inc.
†
..............
382,714‌
13,314‌
Legacy
Housing
Corp.
†
.............
228,335‌
5,000‌
Martin
Marietta
Materials
Inc.
.........
1,610,450‌
36,413‌
Nobility
Homes
Inc.
................
883,015‌
41,400‌
Skyline
Champion
Corp.
†
............
2,188,818‌
9
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Manufactured
Housing
and
Recreational
Vehicles
(Continued)
2,500‌
The
AZEK
Co.
Inc.
†
................
$
41,550‌
5,334,882‌
Publishing
—
0
.3
%
1,400‌
Graham
Holdings
Co.
,
Cl. B
..........
753,172‌
105,000‌
News
Corp.
,
Cl. A
.................
1,586,550‌
90,600‌
News
Corp.
,
Cl. B
.................
1,397,052‌
70,000‌
The
E.W.
Scripps
Co.
,
Cl. A
†
..........
788,900‌
4,525,674‌
Semiconductors
—
0
.1
%
8,000‌
Advanced
Micro
Devices
Inc.
†
........
506,880‌
80,000‌
Alphawave
IP
Group
plc
†
............
123,088‌
2,000‌
Applied
Materials
Inc.
..............
163,860‌
225‌
ASML
Holding
NV
.................
93,454‌
1,200‌
Axcelis
Technologies
Inc.
†
...........
72,672‌
500‌
Azenta
Inc.
......................
21,430‌
200‌
Lam
Research
Corp.
...............
73,200‌
2,000‌
Lattice
Semiconductor
Corp.
†
........
98,420‌
2,300‌
Marvell
Technology
Inc.
.............
98,693‌
3,000‌
nLight
Inc.
†
.....................
28,350‌
2,200‌
NXP
Semiconductors
NV
............
324,522‌
157‌
SkyWater
Technology
Inc.
†
..........
1,201‌
3,000‌
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
,
ADR
.....................
205,680‌
1,811,450‌
Computer
Hardware
—
0.0
%
11,000‌
Dell
Technologies
Inc.
,
Cl. C
..........
375,870‌
5,500‌
HP
Inc.
........................
137,060‌
3,000‌
NETGEAR
Inc.
†
...................
60,120‌
573,050‌
TOTAL
COMMON
STOCKS
...........
1,721,598,925‌
CLOSED-END
FUNDS
—
0
.2
%
245,000‌
Altaba
Inc.,
Escrow
†
...............
931,000‌
4,285‌
Royce
Global
Value
Trust
Inc.
.........
34,366‌
46,158‌
Royce
Value
Trust
Inc.
..............
579,283‌
65,000‌
SuRo
Capital
Corp.
................
251,550‌
98,000‌
The
Central
Europe,
Russia,
and
Turkey
Fund
Inc.
.............
647,780‌
159,000‌
The
New
Germany
Fund
Inc.
.........
1,106,640‌
3,550,619‌
TOTAL
CLOSED-END
FUNDS
.........
3,550,619‌
Shares
Market
Value
PREFERRED
STOCKS
—
0
.2
%
Retail
—
0
.1
%
41,750‌
Qurate
Retail
Inc.
,
8.000
%
,
03/15/31
....
$
1,901,295‌
Diversified
Industrial
—
0
.1
%
80,000‌
Steel
Partners
Holdings
LP
,
Ser.
A
,
6.000
%
,
02/07/26
......................
1,862,400‌
TOTAL
PREFERRED
STOCKS
.........
3,763,695‌
CONVERTIBLE
PREFERRED
STOCKS
—
0.0
%
Automotive:
Parts
and
Accessories
—
0.0
%
37,672‌
Garrett
Motion
Inc.
,
Ser.
A
,
11.000
%
.....................
267,848‌
WARRANTS
—
0.0
%
Diversified
Industrial
—
0.0
%
379,000‌
Ampco-Pittsburgh
Corp.
,
expire
08/01/25
†
102,254‌
Energy
and
Utilities
—
0.0
%
2,504‌
Occidental
Petroleum
Corp.
,
expire
08/03/27
†
.....................
99,209‌
Financial
Services
—
0.0
%
24,000‌
Liberty
Media
Acquisition
Corp.
,
expire
12/31/27
†
.....................
96‌
150,000‌
Post
Holdings
Partnering
Corp.
,
expire
02/09/23
†
.....................
15,720‌
15,816‌
TOTAL
WARRANTS
................
217,279‌
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
0
.9
%
$
14,775,000‌
U.S.
Treasury
Bills,
3.179
%
to
3.297
%
††
,
12/22/22
to
12/29/22
......................
14,669,950‌
TOTAL
INVESTMENTS
—
100
.0
%
.....
(Cost
$
1,239,421,608
)
............
$
1,744,068,316‌
(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.
This
security
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
CDI
CHESS
(Australia)
Depository
Interest
REIT
Real
Estate
Investment
Trust
SDR
Swedish
Depositary
Receipt
10
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Geographic
Diversification
%
of
Total
Investments
Market
Value
North
America
......................
83
.8‌
%
$
1,461,211,807‌
Europe
..............................
12
.9‌
224,515,208‌
Japan
...............................
1
.6‌
28,548,862‌
Latin
America
.......................
1
.1‌
19,792,895‌
Asia/Pacific
.........................
0
.6‌
9,999,544‌
Total
Investments
...................
100.0‌%
$
1,744,068,316‌