The Gabelli Global Financial Services Fund

Schedule of Investments — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 100.0%
		Automobiles — 6.7%
	9,500	Daimler AG†	$	385,783
	4,000	Toyota Motor Corp., ADR		502,520
				888,303
		Banks — 24.6%
	23,050	CIT Group Inc.		477,827
	125,200	Commerzbank AG†		558,004
	46,200	Credit Suisse Group AG, ADR		476,322
	112,400	Dah Sing Financial Holdings Ltd.		314,700
	22,300	Japan Post Bank Co. Ltd.		165,636
	16,000	Shinhan Financial Group Co. Ltd., ADR		384,960
	28,100	Shinsei Bank Ltd.		337,798
	8,450	State Street Corp.		536,997
				3,252,244
		Consumer Finance — 6.0%
	22,600	Ally Financial Inc.		448,158
	5,400	Capital One Financial Corp.		337,986
				786,144
		Diversified Banks — 17.8%
	261,000	Barclays plc		370,039
	11,650	Citigroup Inc.		595,315
	42,800	Credit Agricole SA†		405,265
	232,000	Royal Bank of Scotland Group plc		349,564
	13,810	Societe Generale SA†		229,629
	72,500	Standard Chartered plc		395,361
				2,345,173
		Homebuilders — 6.7%
	3,090	Cavco Industries Inc.†		595,907

Shares			Market Value
	20,009	Legacy Housing Corp.†	$	284,528
				880,435
		Institutional Brokerage — 6.7%
	84,000	Daiwa Securities Group Inc.		349,848
	34,110	Jefferies Financial Group Inc.		530,411
				880,259
		Institutional Trust, Fiduciary, and Custody — 4.9%
	16,750	The Bank of New York Mellon Corp.		647,387
		Investment Management — 17.7%
	5,450	Diamond Hill Investment Group Inc.		619,501
	25,650	Franklin Resources Inc.		537,881
	27,600	Janus Henderson Group plc		584,016
	38,800	Waddell & Reed Financial Inc., Cl. A		601,788
				2,343,186
		Life Insurance — 8.9%
	191,040	Aegon NV		569,420
	18,038	NN Group NV		605,941
				1,175,361
		TOTAL COMMON STOCKS		13,198,492
		TOTAL INVESTMENTS — 100.0%     (Cost $16,721,967)	$	13,198,492

† Non-income producing security.

ADR American Depositary Receipt

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