Gabelli
Capital
Asset
Fund
September
30,
2022
(Unaudited)
Shares
Market
Value
Common
Stocks
—
99.5%
Aerospace
and
Defense
—
7.3%
38,000
Aerojet
Rocketdyne
Holdings
Inc.†
$
1,519,620
10,600
HEICO
Corp.
1,526,188
2,400
Honeywell
International
Inc.
400,728
27,000
Kaman
Corp.
754,110
4,200,646
Agriculture
—
0.4%
2,500
Archer-Daniels-Midland
Co.
201,125
300
Bunge
Ltd.
24,771
225,896
Automobiles
and
Components
—
0.4%
1,000
BorgWarner
Inc.
31,400
5,500
Dana
Inc.
62,865
2,299
Garrett
Motion
Inc.†
12,990
25,000
Iveco
Group
NV†
119,321
226,576
Building
and
Construction
—
2.4%
12,500
Griffon
Corp.
369,000
9,500
Herc
Holdings
Inc.
986,860
1,355,860
Commercial
and
Professional
Services
—
1.2%
5,000
Rollins
Inc.
173,400
3,400
Waste
Management
Inc.
544,714
718,114
Consumer
Durables
—
4.3%
2,900
Cavco
Industries
Inc.†
596,704
9,000
Skyline
Champion
Corp.†
475,830
22,200
Sony
Group
Corp.,
ADR
1,421,910
2,494,444
Consumer
Services
—
1.0%
6,800
Boyd
Gaming
Corp.
324,020
11,500
Canterbury
Park
Holding
Corp.
256,105
580,125
Consumer
Staples
—
10.5%
29,200
Brown-Forman
Corp.,
Cl. A
1,972,752
4,000
Campbell
Soup
Co.
188,480
37,000
Danone
SA,
ADR
348,355
13,400
Diageo
plc,
ADR
2,275,454
12,500
Fomento
Economico
Mexicano
SAB
de
CV,
ADR
784,375
5,000
National
Beverage
Corp.
192,700
2,500
The
Coca-Cola
Co.
140,050
3,399
Tootsie
Roll
Industries
Inc.
113,119
6,015,285
Diversified
Industrial
—
3.8%
10,600
Crane
Holdings
Co.
927,924
1,100
EnPro
Industries
Inc.
93,478
14,000
ITT
Inc.
914,760
16,000
L.B.
Foster
Co.,
Cl. A†
156,160
Shares
Market
Value
1,700
Textron
Inc.
$
99,042
2,191,364
Electrical
Equipment
—
4.3%
12,000
AMETEK
Inc.
1,360,920
13,000
Franklin
Electric
Co.
Inc.
1,062,230
300
Rockwell
Automation
Inc.
64,533
2,487,683
Energy
—
2.7%
1,700
Chevron
Corp.
244,239
4,000
ConocoPhillips
409,360
4,400
Devon
Energy
Corp.
264,572
6,500
Dril-Quip
Inc.†
126,880
3,000
Exxon
Mobil
Corp.
261,930
35,000
RPC
Inc.
242,550
1,549,531
Entertainment
—
3.4%
66,000
Paramount
Global,
Cl. A
1,421,640
2,500
The
Walt
Disney
Co.†
235,825
14,000
Vivendi
SE
109,381
15,000
Warner
Bros
Discovery
Inc.†
172,500
1,939,346
Financials
—
14.4%
8,400
American
Express
Co.
1,133,244
6,000
Bank
of
America
Corp.
181,200
33,000
Indus
Realty
Trust
Inc.,
REIT
1,728,210
3,500
JPMorgan
Chase
&
Co.
365,750
1,300
Marsh
&
McLennan
Companies
Inc.
194,077
12,000
Morgan
Stanley
948,120
3,500
PROG
Holdings
Inc.†
52,430
7,900
Ryman
Hospitality
Properties
Inc.,
REIT
581,361
11,500
State
Street
Corp.
699,315
37,000
The
Bank
of
New
York
Mellon
Corp.
1,425,240
24,000
Wells
Fargo
&
Co.
965,280
8,274,227
Health
Care
—
1.3%
11,000
Henry
Schein
Inc.†
723,470
Information
Technology
—
7.0%
14,500
Corning
Inc.
420,790
45,000
CTS
Corp.
1,874,250
3,500
Diebold
Nixdorf
Inc.†
8,540
4,000
EchoStar
Corp.,
Cl. A†
65,880
10,500
Texas
Instruments
Inc.
1,625,190
3,994,650
Machinery
—
10.8%
18,000
CIRCOR
International
Inc.†
296,820
125,000
CNH
Industrial
NV
1,396,250
1,800
Deere
&
Co.
601,002
10,000
Flowserve
Corp.
243,000
21,300
Graco
Inc.
1,276,935
2,200
IDEX
Corp.
439,670
2,200
Snap-on
Inc.
442,970
Gabelli
Capital
Asset
Fund
Schedule
of
Investments
(Continued)
September
30,
2022
(Unaudited)
Shares
Market
Value
Common
Stocks
(Continued)
Machinery
(Continued)
8,000
The
Eastern
Co.
$
138,800
74,010
The
L.S.
Starrett
Co.,
Cl. A†
653,508
1,200
Watts
Water
Technologies
Inc.,
Cl. A
150,876
6,200
Xylem
Inc.
541,632
6,181,463
Materials
—
6.7%
9,700
Ampco-Pittsburgh
Corp.†
35,696
36,000
Freeport-McMoRan
Inc.
983,880
1,800
International
Flavors
&
Fragrances
Inc.
163,494
68,500
Myers
Industries
Inc.
1,128,195
36,200
Newmont
Corp.
1,521,486
400
Sensient
Technologies
Corp.
27,736
3,860,487
Media
—
7.7%
3,000
AMC
Networks
Inc.,
Cl. A†
60,900
10,000
Cogeco
Inc.
398,885
12,000
DISH
Network
Corp.,
Cl. A†
165,960
6,000
Fox
Corp.,
Cl. A
184,080
116,000
Grupo
Televisa
SAB,
ADR
624,080
1,500
Liberty
Broadband
Corp.,
Cl. A†
111,900
1,800
Liberty
Broadband
Corp.,
Cl. C†
132,840
5,000
Liberty
Global
plc,
Cl. A†
77,950
12,000
Liberty
Global
plc,
Cl. C†
198,000
12,500
Liberty
Latin
America
Ltd.,
Cl. A†
77,375
269
Liberty
Latin
America
Ltd.,
Cl. C†
1,654
7,000
Liberty
Media
Corp.-
Liberty
Braves,
Cl. A†
197,050
2,000
Liberty
Media
Corp.-
Liberty
Braves,
Cl. C†
55,000
1,500
Liberty
Media
Corp.-
Liberty
Formula
One,
Cl. A†
78,780
1,500
Liberty
Media
Corp.-
Liberty
Formula
One,
Cl. C†
87,750
1,098
Liberty
Media
Corp.-
Liberty
SiriusXM,
Cl. C†
41,406
12,144
Madison
Square
Garden
Entertainment
Corp.†
535,429
6,700
Madison
Square
Garden
Sports
Corp.†
915,622
26,000
Sinclair
Broadcast
Group
Inc.,
Cl. A
470,340
4,415,001
Publishing
—
0.5%
24,000
The
E.W.
Scripps
Co.,
Cl. A†
270,480
Retailing
—
2.6%
9,700
CVS
Health
Corp.
925,089
2,000
Ingles
Markets
Inc.,
Cl. A
158,420
31,000
Sally
Beauty
Holdings
Inc.†
390,600
1,474,109
Telecommunication
Services
—
2.6%
10,000
Millicom
International
Cellular
SA,
SDR†
115,565
8,500
Rogers
Communications
Inc.,
Cl. B
327,590
22,000
Telephone
and
Data
Systems
Inc.
305,800
Shares
Market
Value
28,000
United
States
Cellular
Corp.†
$
728,840
1,477,795
Transportation
—
2.0%
13,500
GATX
Corp.
1,149,525
Utilities
—
2.2%
20,500
National
Fuel
Gas
Co.
1,261,775
Total
Common
Stocks
57,067,852
Closed-End
Funds
—
0.1%
7,500
Altaba
Inc.,
Escrow†
28,500
Convertible
Preferred
Stocks
—
0.0%
Automobiles
and
Components
—
0.0%
2,300
Garrett
Motion
Inc.,
Ser.
A,
11.000%
16,353
Warrants
—
0.0%
Materials
—
0.0%
6,000
Ampco-Pittsburgh
Corp.,
expire
08/01/25†
1,619
Principal
Amount
U.S.
Government
Obligations
—
0.4%
U.S.
Treasury
Bill
$
250,000
3.064%††,
12/15/22
248,583
TOTAL
INVESTMENTS
—
100.0%
(Cost
$28,856,602)
$
57,362,907
†
Non-income
producing
security.
††
Represents
annualized
yield
at
date
of
purchase.
ADR
American
Depositary
Receipt
REIT
Real
Estate
Investment
Trust
SDR
Swedish
Depositary
Receipt