0001145549-21-074547.txt : 20211213 0001145549-21-074547.hdr.sgml : 20211213 20211213081223 ACCESSION NUMBER: 0001145549-21-074547 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210930 FILED AS OF DATE: 20211213 DATE AS OF CHANGE: 20211213 EFFECTIVENESS DATE: 20211213 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GABELLI EQUITY SERIES FUNDS INC CENTRAL INDEX KEY: 0000877670 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-06367 FILM NUMBER: 211487011 BUSINESS ADDRESS: STREET 1: ONE CORPORATE CENTER CITY: RYE STATE: NY ZIP: 10580 BUSINESS PHONE: 2123098448 MAIL ADDRESS: STREET 1: ONE CORPORATE CENTER CITY: RYE STATE: NY ZIP: 10580 0000877670 S000001061 THE GABELLI EQUITY INCOME FUND C000002850 CLASS A GCAEX C000002851 CLASS AAA GABEX C000002853 CLASS C GCCEX C000061072 Class I GCIEX 0000877670 S000001062 THE GABELLI SMALL CAP GROWTH FUND C000002854 CLASS A GCASX C000002855 CLASS AAA GABSX C000002857 CLASS C GCCSX C000061073 Class I GACIX 0000877670 S000001063 THE GABELLI FOCUSED GROWTH AND INCOME FUND C000002858 CLASS A GWSAX C000002860 CLASS C GWSCX C000002861 CLASS AAA GWSVX C000061074 Class I GWSIX 0000877670 S000062891 The Gabelli Global Financial Services Fund C000203680 CLASS I GFSIX C000203681 CLASS A GGFSX C000203682 CLASS AAA GAFSX C000203683 CLASS C GCFSX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000877670 XXXXXXXX false false false N-1A true Gabelli Equity Series Funds Inc 811-06367 0000877670 5493007J8TJQ0MSHWY40 One Corporate Center Rye 10580-1422 US-NY US 1-800-422-3554 The Bank of New York Mellon 240 Greenwich Street New York 10286 1-212-495-1784 Accounting BNY Mellon Investment Servicing (US) Inc. 301 Bellevue Parkway Wilmington 19809 1-302-791-1700 Accounting Gabelli Funds, LLC One Corporate Center Rye 10580-1422 914-921-5100 Accounting State Street Bank and Trust Company One Heritage Drive North Quincy 02171 617-786-3000 Custody DST Asset Manager Solutions, Inc. 30 Dan Road Canton 02021-2809 888-772-2337 Transfer Agent N N N-1A 4 Y Kuni Nakamura N/A N Salvatore J. Zizza N/A N Mario J. Gabelli 000216136 Y Elizabeth C. Bogan N/A N Anthony J. Colavita N/A N Vincent D. Enright N/A N Anthonie C. van Ekris N/A N John D. Gabelli 001008994 Y Robert J. Morrissey N/A N Richard J. Walz 001392836 One Corporate Center Rye 10580 XXXXXX N N N N N N N G.distributors, LLC 008-68697 000155071 N/A Y N Ernst & Young LLP 42 N/A N N N N N N N The Gabelli Equity Income Fund S000001061 549300MR25KFQOQM9O54 N 4 0 0 N/A N N Y N N/A N/A N/A Rule 17e-1 (17 CFR 270.17e-1) N N N N Gabelli Funds, LLC 801-37706 000104949 549300JDTNRQK8NMTG03 N DST Asset Manager Solutions, Inc. 084-00896 N/A N N N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N Y State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Asset Manager Solutions, Inc. 084-00896 SEC FILE NUMBER N N N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N N G.Research, LLC 008-21373 000007353 N/A 8193.000000000000 G.distributors, LLC 008-68697 000155071 N/A 64774.000000000000 PIPER SANDLER & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 3078.000000000000 Stifel, Nicolaus & Company, Incorporated 008-01447 000000793 5WUVMA08EYG4KEUPW589 4619.000000000000 MIZUHO SECURITIES USA LLC 008-37710 000019647 7TK5RJIZDFROZCA6XF66 4764.000000000000 WELLS FARGO CLEARING SERVICES, LLC 008-37180 000019616 88KRVSOEKUGQZJ3DKW55 3626.000000000000 G.RESEARCH, LLC 008-21373 000007353 N/A 8193.000000000000 Cowen and Company, LLC 008-22522 000007616 549300WR155U7DVMIW58 6977.000000000000 MACQUARIE CAPITAL (USA), INC. 008-47198 000036368 549300670K07JRB5UQ40 3136.000000000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 3421.000000000000 UBS Securities LLC 008-22651 000007654 T6FIZBDPKLYJKFCRVK44 3940.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 3536.000000000000 66178.000000000000 Coca-Cola Europacific Partners API Pty Ltd N/A N/A JOR7RJTXUXBRJ4UA5G70 AU 752463.000000000000 JARDINE STRATEGIC HOLDINGS LIMITED N/A N/A 213800BZ6VW56K2S6677 BM 4950000.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 1939590.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 19282255.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 23373294.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 3990509.000000000000 54288111.000000000000 Y 580040887.000000000000 0.000000000000 Uncommitted 75000000.000000000000 N N N The Gabelli Small Cap Growth Fund S000001062 5493004KDRWUBCSSBJ87 N 4 0 0 N/A N N Y N N/A N/A N/A Rule 17e-1 (17 CFR 270.17e-1) N N N N Gabelli Funds, LLC 801-37706 000104949 549300JDTNRQK8NMTG03 N DST Asset Manager Solutions, Inc. 084-00896 N/A N N N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N Y State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Asset Manager Solutions, Inc. 084-00896 SEC FILE NUMBER N N N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N N G.Research, LLC 008-21373 000007353 N/A 44034.000000000000 G.distributors, LLC 008-68697 000155071 N/A 11061.000000000000 WELLS FARGO CLEARING SERVICES, LLC 008-37180 000019616 88KRVSOEKUGQZJ3DKW55 21111.000000000000 G.RESEARCH, LLC 008-21373 000007353 N/A 44034.000000000000 Cowen and Company, LLC 008-22522 000007616 549300WR155U7DVMIW58 19888.000000000000 Needham & Company, LLC 008-33772 000016360 254900J2GFQ4J4NK1J89 19044.000000000000 Merrill Lynch, Pierce, Fenner & Smith Incorporated 008-07221 000007691 8NAV47T0Y26Q87Y0QP81 9763.000000000000 EVERCORE GROUP L.L.C. 008-49830 000042405 5493008F0LRLS5N8LZ81 11262.000000000000 MORGAN STANLEY & CO. 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N/A 000297298 5493004R1QTG26U4DV34 253000.000000000000 SIGNATURE AVIATION PLC N/A N/A 2138001T2QEV5RXMFI32 GB 3364805.000000000000 JARDINE STRATEGIC HOLDINGS LIMITED N/A N/A 213800BZ6VW56K2S6677 BM 6138000.000000000000 BMO Nesbitt Burns Securities Ltd. 008-50538 000044057 54JEJPF5RL5INKZRDO43 CA 259982.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 7049179.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 19996501.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 19940925.000000000000 BMO CAPITAL MARKETS CORP. 008-34344 000016686 RUC0QBLBRPRCU4W1NE59 5574266.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 32027638.000000000000 94604297.000000000000 Y 1870758630.000000000000 0.000000000000 Uncommitted 75000000.000000000000 N N N The Gabelli Focused Growth and Income Fund S000001063 5493000HSUGR4K1WQT75 N 4 0 0 N/A Y N Y N N/A N/A N/A Rule 17e-1 (17 CFR 270.17e-1) Y Y Y N Gabelli Funds, LLC 801-37706 000104949 549300JDTNRQK8NMTG03 N DST Asset Manager Solutions, Inc. 084-00896 N/A N N N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Asset Manager Solutions, Inc. 084-00896 SEC FILE NUMBER N N N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N N G.Research, LLC 008-21373 000007353 N/A 0.000000000000 G.distributors, LLC 008-68697 000155071 N/A 4954.000000000000 B. 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Riley Securities, Inc. 008-41426 000025027 2549005CLOSQO0MJEA57 350000.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 729895.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 5499275.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 9513053.000000000000 BMO CAPITAL MARKETS CORP. 008-34344 000016686 RUC0QBLBRPRCU4W1NE59 159992.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 7783018.000000000000 24035232.000000000000 Y 36751194.000000000000 0.000000000000 Uncommitted 75000000.000000000000 N N N N The Gabelli Global Financial Services Fund S000062891 549300OACYREG7GVGS13 N 4 0 0 N/A Y N Y N N/A N/A N/A Rule 17e-1 (17 CFR 270.17e-1) Y Y Y N Gabelli Funds, LLC 801-37706 000104949 549300JDTNRQK8NMTG03 N DST Asset Manager Solutions, Inc. 084-00896 N/A N N N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Asset Manager Solutions, Inc. 084-00896 SEC FILE NUMBER N N N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N N G.Research, LLC 008-21373 000007353 N/A 2172.000000000000 G.distributors, LLC 008-68697 000155071 N/A 38.000000000000 Stifel, Nicolaus & Company, Incorporated 008-01447 000000793 5WUVMA08EYG4KEUPW589 121.000000000000 DAIWA CAPITAL MARKETS AMERICA INC. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 1117.000000000000 MKM PARTNERS LLC 008-53436 000114666 25490041O5W104HFWA62 148.000000000000 G.RESEARCH, LLC 008-21373 000007353 N/A 2172.000000000000 CREDIT SUISSE SECURITIES (USA) LLC 008-00422 000000816 1V8Y6QCX6YMJ2OELII46 448.000000000000 Cowen and Company, LLC 008-22522 000007616 549300WR155U7DVMIW58 1297.000000000000 MACQUARIE CAPITAL (USA), INC. 008-47198 000036368 549300670K07JRB5UQ40 187.000000000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 1082.000000000000 BGC FINANCIAL, L.P. 008-39012 000019801 549300NP4MIDUNET0550 985.000000000000 CANTOR FITZGERALD & CO. 008-00201 000000134 5493004J7H4GCPG6OB62 337.000000000000 8225.000000000000 WADDELL & REED FINANCIAL, INC. 008-17668 000006413 549300DZMO2208Z36F25 1055000.000000000000 BMO Nesbitt Burns Securities Ltd. 008-50538 000044057 54JEJPF5RL5INKZRDO43 CA 399958.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 144992.000000000000 SG Cowen Securities Corporation 008-22522 000007616 549300WR155U7DVMIW58 3745.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 769927.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 2257922.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 29250.000000000000 BMO CAPITAL MARKETS CORP. 008-34344 000016686 RUC0QBLBRPRCU4W1NE59 324983.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 1879926.000000000000 4607782.000000000000 Y 20705514.000000000000 0.000000000000 Uncommitted 75000000.000000000000 N N N true INTERNAL CONTROL RPT 2 internalcontrolrpt_equityser.htm

  

  

Report of Independent Registered Public Accounting Firm 

  

To the Shareholders of The Gabelli Equity Income Fund, The Gabelli Focused Growth and Income Fund, The Gabelli Small Cap Growth Fund and The Gabelli Global Financial Services Fund 

and the Board of Directors of Gabelli Equity Series Funds, Inc. 

  

In planning and performing our audits of the financial statements of Gabelli Equity Series Funds, Inc. (the “Corporation”) (comprising The Gabelli Equity Income Fund, The Gabelli Focused Growth and Income Fund, The Gabelli Small Cap Growth Fund and The Gabelli Global Financial Services Fund) as of and for the year ended September 30, 2021, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Corporation’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Corporation’s internal control over financial reporting. Accordingly, we express no such opinion.   

  

The management of the Corporation is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements. 

  

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. 

  

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Corporation’s annual or interim financial statements will not be prevented or detected on a timely basis.  

  

Our consideration of the Corporation’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Corporation’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of September 30, 2021. 

  

This report is intended solely for the information and use of management and the Board of Directors of Gabelli Equity Series Funds, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties. 

  

  

  

/s/ Ernst & Young LLP 

  

Philadelphia, Pennsylvania 

November 24, 2021