The Gabelli Small Cap Growth Fund

Schedule of Investments — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS — 99.0%
		Aerospace — 2.2%
	877,000	Aerojet Rocketdyne Holdings Inc.†	$	34,764,280
	20,000	Allied Motion Technologies Inc.		706,000
	40,000	Innovative Solutions and Support Inc.†		200,000
				35,670,280
		Agriculture — 0.0%
	12,000	Cadiz Inc.†		121,920
	13,000	Limoneira Co.		188,370
				310,290
		Automotive — 1.9%
	1,079,000	Navistar International Corp.†		30,427,800
	6,000	PACCAR Inc.		449,100
				30,876,900
		Automotive: Parts and Accessories — 3.1%
	175,000	BorgWarner Inc.		6,177,500
	88,022	China Automotive Systems Inc.†		254,383
	1,140,000	Dana Inc.		13,896,600
	905,000	Freni Brembo SpA†		8,362,872
	418,000	Modine Manufacturing Co.†		2,307,360
	18,000	Monro Inc.		988,920
	4,400	O’Reilly Automotive Inc.†		1,855,348
	45,000	Puradyn Filter Technologies Inc.†		409
	192,000	Standard Motor Products Inc.		7,910,400
	195,000	Strattec Security Corp.(a)		3,108,300
	4,000	Superior Industries International Inc.		6,800
	332,000	Tenneco Inc., Cl. A†		2,509,920
	21,500	Thor Industries Inc.		2,290,395
	20,000	Uni-Select Inc.		108,574
				49,777,781
		Aviation: Parts and Services — 3.4%
	22,000	AAR Corp.		454,740
	9,500	Astronics Corp.†		100,320
	22,700	Astronics Corp., Cl. B†		245,160
	47,000	Ducommun Inc.†		1,638,890
	742,000	Kaman Corp.		30,867,200
	90,000	Moog Inc., Cl. A		4,768,200
	16,500	Moog Inc., Cl. B		931,343
	4,580,000	Signature Aviation plc		13,160,463
	37,000	Woodward Inc.		2,869,350
				55,035,666
		Broadcasting — 1.6%
	306,000	Beasley Broadcast Group Inc., Cl. A		743,580
	10,000	Cogeco Communications Inc.		720,462
	23,300	Cogeco Inc.		1,390,517
	190,000	Corus Entertainment Inc., Cl. B		400,265
	40,000	Fox Corp., Cl. A		1,072,800
	25,000	Gray Television Inc.†		348,750
	72,350	Gray Television Inc., Cl. A†		939,103
	400,000	ITV plc		370,143
	17,000	Liberty Broadband Corp., Cl. A†		2,077,230

Shares			Market Value
	13,000	Liberty Broadband Corp., Cl. C†	$	1,611,480
	20,000	Liberty Media Corp.-Liberty Formula One, Cl. A†		583,600
	27,000	Liberty Media Corp.-Liberty Formula One, Cl. C†		856,170
	64,000	Liberty Media Corp.-Liberty SiriusXM, Cl. A†		2,209,280
	34,452	Liberty Media Corp.-Liberty SiriusXM, Cl. C†		1,186,871
	345,000	MSG Networks Inc., Cl. A†		3,432,750
	22,500	Nexstar Media Group Inc., Cl. A		1,883,025
	225,000	Salem Media Group Inc.		254,250
	160,000	Sinclair Broadcast Group Inc., Cl. A		2,953,600
	480,000	Sirius XM Holdings Inc.		2,817,600
				25,851,476
		Building and Construction — 4.9%
	79,000	Arcosa Inc.		3,333,800
	15,000	Armstrong Flooring Inc.†		44,850
	109,000	D.R. Horton Inc.		6,044,050
	29,000	Gibraltar Industries Inc.†		1,392,290
	464,000	Herc Holdings Inc.†		14,258,720
	135,000	KB Home		4,141,800
	401,500	Lennar Corp., Cl. B		18,505,135
	200,000	Louisiana-Pacific Corp.		5,130,000
	110,000	MDC Holdings Inc.		3,927,000
	27,000	Meritage Homes Corp.†		2,055,240
	2,700	NVR Inc.†		8,798,625
	167,000	PulteGroup Inc.		5,683,010
	65,000	Titan Machinery Inc.†		705,900
	177,000	Toll Brothers Inc.		5,768,430
				79,788,850
		Business Services — 3.0%
	15,000	ACCO Brands Corp.		106,500
	676,394	Clear Channel Outdoor Holdings Inc.†		703,450
	445,000	Diebold Nixdorf Inc.†		2,696,700
	90,000	Element Solutions Inc.†		976,500
	70,000	GP Strategies Corp.†		600,600
	13,000	GSE Systems Inc.†		13,130
	225,000	IAA Inc.†		8,678,250
	140,000	Live Nation Entertainment Inc.†		6,206,200
	175,000	Macquarie Infrastructure Corp.		5,370,750
	16,000	McGrath RentCorp		864,160
	20,000	Sealed Air Corp.		657,000
	81,000	Sohgo Security Services Co. Ltd.		3,765,872
	11,000	Stamps.com Inc.†		2,020,590
	291,000	Team Inc.†		1,620,870
	450,000	The Interpublic Group of Companies Inc.		7,722,000
	25,000	TransAct Technologies Inc.		114,500
	1,755,000	Trans-Lux Corp.†(a)		789,750
	39,600	United Rentals Inc.†		5,901,984
				48,808,806
		Cable — 0.8%
	160,000	AMC Networks Inc., Cl. A†		3,742,400

1

The Gabelli Small Cap Growth Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Cable (Continued)
	40,000	DISH Network Corp., Cl. A†	$	1,380,400
	30,000	EchoStar Corp., Cl. A†		838,800
	125,000	Liberty Global plc, Cl. A†		2,732,500
	166,000	Liberty Global plc, Cl. C†		3,570,660
	90,000	WideOpenWest Inc.†		474,300
				12,739,060
		Communications Equipment — 0.1%
	249,000	Communications Systems Inc.		1,262,430
		Computer Software and Services — 2.3%
	25,000	3D Systems Corp.†		174,750
	92,500	Activision Blizzard Inc.		7,020,750
	560,000	Alithya Group Inc., Cl. A†		968,800
	205,000	Avid Technology Inc.†		1,490,350
	262,000	GTY Technology Holdings Inc.†		1,091,230
	14,000	MKS Instruments Inc.		1,585,360
	40,000	Rockwell Automation Inc.		8,520,000
	95,000	Stratasys Ltd.†		1,506,700
	42,500	Tyler Technologies Inc.†		14,742,400
				37,100,340
		Consumer Products — 2.5%
	23,000	1-800-Flowers.com Inc., Cl. A†		460,460
	90,000	Brunswick Corp.		5,760,900
	32,000	Chofu Seisakusho Co. Ltd.		671,563
	41,500	Church & Dwight Co. Inc.		3,207,950
	17,000	Energizer Holdings Inc.		807,330
	15,000	Ginko International Co. Ltd.		74,480
	2,000	Harley-Davidson Inc.		47,540
	146,400	Hunter Douglas NV†		7,812,781
	2,500	Kobayashi Pharmaceutical Co. Ltd.		219,495
	6,200	LCI Industries		712,876
	250,000	Marine Products Corp.		3,462,500
	3,000	National Presto Industries Inc.		262,170
	230,000	Sally Beauty Holdings Inc.†		2,881,900
	220,000	Samick Musical Instruments Co. Ltd.		260,631
	4,000	Shimano Inc.		768,696
	14,000	Steven Madden Ltd.		345,660
	116,000	Swedish Match AB		8,153,935
	10,000	The Scotts Miracle-Gro Co.		1,344,700
	9,500	WD-40 Co.		1,883,850
	85,000	Wolverine World Wide Inc.		2,023,850
				41,163,267
		Consumer Services — 1.6%
	53,000	Bowlin Travel Centers Inc.†		153,170
	2,750	Collectors Universe Inc.		94,270
	3,000	H&E Equipment Services Inc.		55,440
	5,000	IAC/InterActiveCorp.†		1,617,000
	260,000	KAR Auction Services Inc.		3,577,600
	485,000	Rollins Inc.		20,559,150
				26,056,630

Shares			Market Value
		Diversified Industrial — 9.5%
	10,500	Acuity Brands Inc.	$	1,005,270
	67,500	Albany International Corp., Cl. A		3,962,925
	140,000	Ampco-Pittsburgh Corp.†		429,800
	70,000	Burnham Holdings Inc., Cl. A		710,500
	365,000	Crane Co.		21,702,900
	118,000	EnPro Industries Inc.		5,816,220
	115,000	Greif Inc., Cl. A		3,957,150
	96,000	Greif Inc., Cl. B		4,015,680
	1,428,000	Griffon Corp.		26,446,560
	190,000	Jardine Strategic Holdings Ltd.		4,094,500
	6,000	JSP Corp.		81,019
	85,000	Kimball International Inc., Cl. B		982,600
	60,000	L.B. Foster Co., Cl. A†		766,200
	55,500	Lawson Products Inc.†		1,790,430
	69,500	Lincoln Electric Holdings Inc.		5,854,680
	45,500	Lindsay Corp.		4,195,555
	27,000	Lydall Inc.†		366,120
	39,000	Matthews International Corp., Cl. A		744,900
	969,600	Myers Industries Inc.		14,107,680
	15,000	nVent Electric plc		280,950
	81,500	Oil-Dri Corp. of America		2,828,050
	16,000	Olin Corp.		183,840
	298,500	Park-Ohio Holdings Corp.		4,952,115
	12,500	Pentair plc		474,875
	94,000	Raven Industries Inc.		2,021,940
	17,200	Roper Technologies Inc.		6,678,072
	74,000	Sonoco Products Co.		3,869,460
	56,000	Standex International Corp.		3,222,800
	450,000	Steel Connect Inc.†		270,045
	235,000	Steel Partners Holdings LP†		1,238,450
	13,000	T. Hasegawa Co. Ltd.		290,160
	8,000	Terex Corp.		150,160
	371,000	Textron Inc.		12,209,610
	487,000	Tredegar Corp.		7,499,800
	230,000	Trinity Industries Inc.		4,896,700
	50,000	Ultra Electronics Holdings plc		1,237,857
				153,335,573
		Electronics — 1.7%
	162,000	Badger Meter Inc.		10,193,040
	218,397	Bel Fuse Inc., Cl. A(a)		2,179,602
	510,000	CTS Corp.		10,220,400
	34,000	Daktronics Inc.		147,900
	116,000	Gentex Corp.		2,989,320
	20,000	IMAX Corp.†		224,200
	40,000	Renesas Electronics Corp.†		204,121
	78,000	Stoneridge Inc.†		1,611,480
				27,770,063
		Energy and Utilities — 2.5%
	21,000	Avangrid Inc.		881,580
	285,000	Callon Petroleum Co.†		327,750

2

The Gabelli Small Cap Growth Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Energy and Utilities (Continued)
	21,500	Chesapeake Utilities Corp.	$	1,806,000
	35,500	CMS Energy Corp.		2,073,910
	11,000	Consolidated Water Co. Ltd.		158,730
	100,000	Covanta Holding Corp.		959,000
	58,000	Diamondback Energy Inc.		2,425,560
	40,000	Dril-Quip Inc.†		1,191,600
	74,000	Energy Recovery Inc.†		562,030
	20,000	KLX Energy Services Holdings Inc.†		43,000
	24,000	Landis+Gyr Group AG†		1,552,800
	25,000	Marathon Petroleum Corp.		934,500
	32,000	Middlesex Water Co.		2,149,760
	32,000	National Fuel Gas Co.		1,341,760
	11,000	Northwest Natural Holding Co.		613,690
	21,500	NorthWestern Corp.		1,172,180
	34,500	Oceaneering International Inc.†		220,455
	16,000	Otter Tail Corp.		620,640
	86,000	PNM Resources Inc.		3,305,840
	1,865,000	RPC Inc.†		5,744,200
	20,000	Siemens Gamesa Renewable Energy SA†		354,575
	90,000	SJW Group		5,589,900
	32,500	Southwest Gas Holdings Inc.		2,244,125
	9,000	Spire Inc.		591,390
	34,000	The York Water Co.		1,630,640
	11,000	Vestas Wind Systems A/S		1,120,151
				39,615,766
		Entertainment — 1.2%
	50,000	Discovery Inc., Cl. A†		1,055,000
	79,000	Discovery Inc., Cl. C†		1,521,540
	88,000	Inspired Entertainment Inc.†		255,200
	88,000	Liberty Media Corp.-Liberty Braves, Cl. A†		1,767,040
	218,000	Liberty Media Corp.-Liberty Braves, Cl. C†		4,303,320
	33,500	Madison Square Garden Sports Corp.†		4,920,815
	30,000	Manchester United plc, Cl. A		474,900
	10,000	Take-Two Interactive Software Inc.†		1,395,700
	5,000	The Walt Disney Co.		557,550
	45,000	Universal Entertainment Corp.†		871,868
	69,000	World Wrestling Entertainment Inc., Cl. A		2,998,050
				20,120,983
		Environmental Services — 0.5%
	100,000	Republic Services Inc.		8,205,000
		Equipment and Supplies — 13.9%
	33,000	A.O. Smith Corp.		1,554,960
	439,500	AMETEK Inc.		39,278,115
	52,000	AZZ Inc.		1,784,640
	20,000	Chart Industries Inc.†		969,800
	165,000	CIRCOR International Inc.†		4,204,200
	334,000	Core Molding Technologies Inc.†		1,376,080

Shares			Market Value
	144,000	Crown Holdings Inc.†	$	9,378,720
	2,025	Danaher Corp.		358,081
	115,000	Donaldson Co. Inc.		5,349,800
	68,000	Entegris Inc.		4,015,400
	274,000	Federal Signal Corp.		8,146,020
	249,000	Flowserve Corp.		7,101,480
	225,000	Franklin Electric Co. Inc.		11,817,000
	520,000	Graco Inc.		24,954,800
	60,000	IDEX Corp.		9,482,400
	200,000	Interpump Group SpA		5,941,039
	13,500	Littelfuse Inc.		2,303,505
	55,000	Maezawa Kyuso Industries Co. Ltd.		1,023,339
	73,000	Minerals Technologies Inc.		3,425,890
	6,000	MSA Safety Inc.		686,640
	717,000	Mueller Industries Inc.		19,057,860
	520,000	Mueller Water Products Inc., Cl. A		4,903,600
	3,600	Teleflex Inc.		1,310,328
	178,000	Tennant Co.		11,571,780
	790,000	The Gorman-Rupp Co.		24,553,200
	110,000	The Greenbrier Companies Inc.		2,502,500
	206,000	The L.S. Starrett Co., Cl. A†		698,340
	33,000	The Manitowoc Co. Inc.†		359,040
	62,900	The Middleby Corp.†		4,965,326
	38,000	The Timken Co.		1,728,620
	30,000	The Toro Co.		1,990,200
	7,500	Valmont Industries Inc.		852,150
	6,500	Vicor Corp.†		467,675
	7,875	Watsco Inc., Cl. B		1,404,900
	64,000	Watts Water Technologies Inc., Cl. A		5,184,000
				224,701,428
		Financial Services — 3.7%
	6,800	Alleghany Corp.		3,326,152
	8,240	Ameris Bancorp		194,382
	26,000	Argo Group International Holdings Ltd.		905,580
	8,900	BKF Capital Group Inc.†		67,284
	6,000	Cadence BanCorp		53,160
	131,000	Calamos Asset Management Inc., Escrow†(b)		0
	12,000	Capitol Federal Financial Inc.		132,120
	22,000	Crazy Woman Creek Bancorp Inc.		313,500
	350,000	Energy Transfer LP		2,492,000
	130	Farmers & Merchants Bank of Long Beach		774,150
	396,000	Flushing Financial Corp.		4,561,920
	66,000	FNB Corp.		495,000
	270,000	GAM Holding AG†		619,537
	278,000	Hope Bancorp Inc.		2,563,160
	440,000	Huntington Bancshares Inc.		3,975,400
	740,000	KKR & Co. Inc.		22,851,200
	89,000	Medallion Financial Corp.†		235,850
	56,000	Pzena Investment Management Inc., Cl. A		304,640
	44,072	Sandy Spring Bancorp Inc.		1,092,104
	14,000	Sculptor Capital Management Inc.		181,020
	800	South State Corp.		38,128

3

The Gabelli Small Cap Growth Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Financial Services (Continued)
	9,000	State Auto Financial Corp.	$	160,650
	404,000	Sterling Bancorp		4,734,880
	83,500	Synovus Financial Corp.		1,714,255
	20,000	TFS Financial Corp.		286,200
	15,000	Thomasville Bancshares Inc.		697,500
	230,000	Valley National Bancorp		1,798,600
	35,500	Value Line Inc.		958,145
	320,000	Waddell & Reed Financial Inc., Cl. A		4,963,200
	10,000	Waterloo Investment Holdings Ltd.†(b)		2,100
	133,000	Wright Investors’ Service Holdings Inc.†		62,510
				60,554,327
		Food and Beverage — 9.9%
	425,000	Arca Continental SAB de CV		1,865,714
	106,000	Brown-Forman Corp., Cl. A		6,102,420
	42,000	Bull-Dog Sauce Co. Ltd.		447,326
	2,100,000	China Tontine Wines Group Ltd.†		17,341
	208,000	Chr. Hansen Holding A/S		21,450,735
	336,000	Crimson Wine Group Ltd.†		1,814,400
	640,000	Davide Campari-Milano SpA		5,392,774
	220,000	Denny’s Corp.†		2,222,000
	1,100,000	Dynasty Fine Wines Group Ltd.†		29,804
	96,000	Farmer Brothers Co.†		704,640
	415,000	Flowers Foods Inc.		9,279,400
	132,000	ITO EN Ltd.		7,432,832
	63,000	Iwatsuka Confectionery Co. Ltd.		2,185,089
	23,000	J & J Snack Foods Corp.		2,923,990
	123,000	Kameda Seika Co. Ltd.		5,900,810
	692,000	Kikkoman Corp.		33,262,144
	750,000	Maple Leaf Foods Inc.		15,750,221
	6,000	MEIJI Holdings Co. Ltd.		476,777
	21,000	MGP Ingredients Inc.		770,805
	78,000	Morinaga Milk Industry Co. Ltd.		3,460,245
	27,000	National Beverage Corp.†		1,647,540
	64,000	Nissin Foods Holdings Co. Ltd.		5,660,569
	15,000	Post Holdings Inc.†		1,314,300
	180,000	Rock Field Co. Ltd.		2,168,835
	2,300	The Boston Beer Co. Inc., Cl. A†		1,234,295
	61,500	The J.M. Smucker Co.		6,507,315
	625,000	Tingyi (Cayman Islands) Holding Corp.		969,292
	222,501	Tootsie Roll Industries Inc.		7,625,109
	400,000	Vina Concha y Toro SA		623,326
	1,120,000	Vitasoy International Holdings Ltd.		4,284,627
	20,000	Willamette Valley Vineyards Inc.†		121,000
	100,000	Yakult Honsha Co. Ltd.		5,880,991
				159,526,666
		Health Care — 7.3%
	2,500	Align Technology Inc.†		686,100
	7,000	Bio-Rad Laboratories Inc., Cl. A†		3,160,430
	14,500	Bruker Corp.		589,860
	60,000	Cantel Medical Corp.		2,653,800

Shares			Market Value
	1,100	Chemed Corp.	$	496,177
	25,200	CONMED Corp.		1,814,148
	33,000	Covetrus Inc.†		590,370
	436,000	Cutera Inc.†		5,306,120
	15,500	DexCom Inc.†		6,283,700
	33,000	Evolent Health Inc., Cl. A†		234,960
	180,000	Globus Medical Inc., Cl. A†		8,587,800
	74,000	Henry Schein Inc.†		4,320,860
	29,200	ICU Medical Inc.†		5,381,852
	44,500	Masimo Corp.†		10,145,555
	96,000	Meridian Bioscience Inc.†		2,235,840
	25,000	Neogen Corp.†		1,940,000
	116,000	NuVasive Inc.†		6,456,560
	216,000	OPKO Health Inc.†		736,560
	133,000	Orthofix Medical Inc.†		4,256,000
	44,000	Owens & Minor Inc.		335,280
	33,500	Patterson Cos. Inc.		737,000
	167,000	Quidel Corp.†		37,364,580
	88,750	RTI Surgical Holdings Inc.†		282,225
	24,000	Seikagaku Corp.		251,614
	19,200	STERIS plc		2,946,048
	1,900	Straumann Holding AG		1,632,382
	3,000	Stryker Corp.		540,570
	33,000	SurModics Inc.†		1,426,920
	30,500	Teladoc Health Inc.†		5,820,620
	100	The Cooper Companies Inc.		28,364
	38,000	United-Guardian Inc.		561,735
				117,804,030
		Home Furnishings — 0.2%
	195,000	Bassett Furniture Industries Inc.		1,433,250
	16,000	Ethan Allen Interiors Inc.		189,280
	82,000	La-Z-Boy Inc.		2,218,920
				3,841,450
		Hotels and Gaming — 3.4%
	185,000	Boyd Gaming Corp.		3,866,500
	190,540	Canterbury Park Holding Corp.		2,048,305
	149,000	Churchill Downs Inc.		19,839,350
	134,000	Formosa International Hotels Corp.		683,523
	554,000	Full House Resorts Inc.†		736,820
	48,627	Gaming and Leisure Properties Inc., REIT		1,682,502
	960,000	Genting Singapore Ltd.		523,536
	170,000	Golden Entertainment Inc.†		1,516,400
	2,980,000	Mandarin Oriental International Ltd.		4,499,800
	3,600	Penn National Gaming Inc.†		109,944
	375,000	Ryman Hospitality Properties Inc., REIT		12,975,000
	2,950,000	The Hongkong & Shanghai Hotels Ltd.		2,668,150
	186,000	The Marcus Corp.		2,468,220
	14,000	Wynn Resorts Ltd.		1,042,860
				54,660,910
		Machinery — 2.2%
	353,000	Astec Industries Inc.		16,347,430

4

The Gabelli Small Cap Growth Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Machinery (Continued)
	1,450,000	CNH Industrial NV†	$	10,193,500
	125,000	Kennametal Inc.		3,588,750
	6,000	Nordson Corp.		1,138,260
	169,000	The Eastern Co.		3,020,030
	134,000	Twin Disc Inc.†		742,360
	90,000	Welbilt Inc.†		548,100
				35,578,430
		Manufactured Housing and Recreational Vehicles — 1.3%
	72,500	Cavco Industries Inc.†		13,981,625
	70,000	Nobility Homes Inc.		1,681,050
	85,000	Skyline Champion Corp.†		2,068,900
	55,000	Winnebago Industries Inc.		3,664,100
				21,395,675
		Metals and Mining — 0.1%
	45,000	Ivanhoe Mines Ltd., Cl. A†		127,615
	95,000	Kinross Gold Corp.†		685,900
	48,000	TimkenSteel Corp.†		186,720
	20,000	Turquoise Hill Resources Ltd.†		14,664
				1,014,899
		Publishing — 0.7%
	2,200	Graham Holdings Co., Cl. B		753,874
	5,000	John Wiley & Sons Inc., Cl. B		197,950
	30,000	Meredith Corp.		436,500
	34,000	News Corp., Cl. A		403,240
	1,090,000	The E.W. Scripps Co., Cl. A		9,537,500
				11,329,064
		Real Estate — 2.4%
	78,500	Capital Properties Inc., Cl. A		965,550
	259,000	Griffin Industrial Realty Inc.(a)		14,030,030
	6,967	Gyrodyne LLC†		116,349
	19,000	Lamar Advertising Co., Cl. A, REIT		1,268,440
	90,000	Morguard Corp.		8,433,854
	16,000	Reading International Inc., Cl. A†		68,000
	4,000	Reading International Inc., Cl. B†		64,040
	19,000	Seritage Growth Properties, Cl. A, REIT†		216,600
	158,000	Tejon Ranch Co.†		2,275,200
	560,000	The St. Joe Co.†		10,875,200
	100,000	Trinity Place Holdings Inc.†		138,000
				38,451,263
		Retail — 4.7%
	17,000	Aaron’s Inc.		771,800
	133,000	AutoNation Inc.†		4,998,140
	35,000	Big 5 Sporting Goods Corp.		67,900
	1,000	Biglari Holdings Inc., Cl. A†		335,000
	104,000	Copart Inc.†		8,660,080
	2,500	Dunkin’ Brands Group Inc.		163,075
	24,000	GNC Holdings Inc., Cl. A†(b)		13,200
	143,000	Hertz Global Holdings Inc.†		201,630
	555,500	Ingles Markets Inc., Cl. A		23,925,385

Shares			Market Value
	68,000	Lands’ End Inc.†	$	546,720
	38,000	Macy’s Inc.		261,440
	85,000	Movado Group Inc.		921,400
	156,000	Nathan’s Famous Inc.		8,773,440
	72,000	Penske Automotive Group Inc.		2,787,120
	93,000	Pets at Home Group plc		275,414
	260,000	Rush Enterprises Inc., Cl. B		9,271,600
	9,000	Salvatore Ferragamo SpA†		121,843
	189,000	The Cheesecake Factory Inc.		4,331,880
	56,000	Tractor Supply Co.		7,380,240
	43,500	Village Super Market Inc., Cl. A		1,205,820
	21,000	Weis Markets Inc.		1,052,520
	600	Winmark Corp.		102,744
				76,168,391
		Specialty Chemicals — 3.5%
	59,000	Albemarle Corp.		4,555,390
	29,000	Ashland Global Holdings Inc.		2,003,900
	1,850,000	Ferro Corp.†		22,089,000
	105,000	GCP Applied Technologies Inc.†		1,950,900
	286,000	H.B. Fuller Co.		12,755,600
	17,000	Hawkins Inc.		723,860
	74,000	Huntsman Corp.		1,329,780
	7,700	NewMarket Corp.		3,083,696
	10,200	Quaker Chemical Corp.		1,893,630
	70,000	Sensient Technologies Corp.		3,651,200
	3,000	SGL Carbon SE†		10,887
	3,500	Takasago International Corp.		69,627
	91,200	The General Chemical Group Inc.†		593
	170,000	Valvoline Inc.		3,286,100
				57,404,163
		Telecommunications — 1.1%
	78,000	Consolidated Communications Holdings Inc.†		528,060
	92,000	Gogo Inc.†		290,720
	111,000	HC2 Holdings Inc.†		370,740
	6,000	IDT Corp., Cl. B†		39,180
	112,000	Iridium Communications Inc.†		2,849,280
	52,000	Loral Space & Communications Inc.		1,015,040
	130,000	Nuvera Communications Inc.		2,312,700
	85,000	Rogers Communications Inc., Cl. B		3,416,150
	93,000	Shenandoah Telecommunications Co.		4,583,970
	710,000	VEON Ltd., ADR		1,278,000
	12,000	Verizon Communications Inc.		661,560
				17,345,400
		Transportation — 1.7%
	440,000	GATX Corp.		26,831,200
	18,600	Irish Continental Group plc		73,871
	88,000	Navigator Holdings Ltd.†		565,840
				27,470,911

5

The Gabelli Small Cap Growth Fund

Schedule of Investments (Continued) — June 30, 2020 (Unaudited)

Shares			Market Value
		COMMON STOCKS (Continued)
		Wireless Communications — 0.1%
	54,000	United States Cellular Corp.†	$	1,666,980
		TOTAL COMMON STOCKS		1,602,403,148
		CLOSED-END FUNDS — 0.2%
	75,000	MVC Capital Inc.		489,750
	55,000	The Central Europe, Russia, and Turkey Fund Inc.		1,148,400
	32,729	The European Equity Fund Inc.		272,305
	119,537	The New Germany Fund Inc.		1,814,572
		TOTAL CLOSED-END FUNDS		3,725,027
		PREFERRED STOCKS — 0.2%
		Automotive: Parts and Accessories — 0.2%
	115,000	Jungheinrich AG†		2,682,231
		RIGHTS — 0.0%
		Entertainment — 0.0%
	1,680,000	Media General Inc., CVR†(b)		2
		WARRANTS — 0.0%
		Business Services — 0.0%
	1	Internap Corp.,
		expire 05/08/24†		652
Principal Amount
		U.S. GOVERNMENT OBLIGATIONS — 0.1%
	$    1,240,000	U.S. Treasury Bill,
		0.130%††, 09/24/20		1,239,605
		TOTAL MISCELLANEOUS     INVESTMENTS — 0.5%(c)		7,984,657
		TOTAL INVESTMENTS — 100.0%     (Cost $708,179,156)	$	1,618,035,322

(a) Security considered an affiliated holding because the Fund owns at least 5% of its outstanding shares.

(b) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(c) Represents previously undisclosed, unrestricted securities which the Fund has held for less than one year.

† Non-income producing security.

†† Represents annualized yield at date of purchase.

ADR American Depositary Receipt

CVR Contingent Value Right

REIT Real Estate Investment Trust

6