1

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

—

June

30,

2021

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

—

98

.9

%

Aerospace

—

0

.8

%

283,500‌

Aerojet

Rocketdyne

Holdings

Inc.

...............

$

13,690,215‌

30,000‌

Allied

Motion

Technologies

Inc.

..................

1,035,900‌

40,000‌

Innovative

Solutions

and

Support

Inc.

........

250,800‌

14,976,915‌

Agriculture

—

0.0

%

12,000‌

Cadiz

Inc.

†

................................................

163,200‌

24,000‌

Limoneira

Co.

............................................

421,200‌

584,400‌

Automotive

—

0

.2

%

1,200‌

PACCAR

Inc.

.............................................

107,100‌

80,500‌

The

Shyft

Group

Inc.

.................................

3,011,505‌

3,118,605‌

Automotive:

Parts

and

Accessories

—

4

.1

%

148,000‌

BorgWarner

Inc.

........................................

7,183,920‌

848,044‌

Brembo

SpA

..............................................

10,739,468‌

88,022‌

China

Automotive

Systems

Inc.

†

................

433,948‌

1,110,000‌

Dana

Inc.

..................................................

26,373,600‌

385,000‌

Modine

Manufacturing

Co.

†

.......................

6,387,150‌

18,000‌

Monro

Inc.

................................................

1,143,180‌

4,300‌

O'Reilly

Automotive

Inc.

†

..........................

2,434,703‌

45,000‌

Puradyn

Filter

Technologies

Inc.

†

...............

450‌

191,900‌

Standard

Motor

Products

Inc.

....................

8,318,865‌

244,000‌

Strattec

Security

Corp.

†

(a)

........................

10,848,240‌

285,000‌

Tenneco

Inc.

,

Cl. A

†

...................................

5,506,200‌

19,200‌

Thor

Industries

Inc.

...................................

2,169,600‌

20,000‌

Uni-Select

Inc.

†

.........................................

264,763‌

81,804,087‌

Aviation:

Parts

and

Services

—

2

.5

%

20,000‌

AAR

Corp.

†

...............................................

775,000‌

9,500‌

Astronics

Corp.

†

.......................................

166,345‌

22,700‌

Astronics

Corp.

,

Cl. B

†

..............................

370,010‌

46,000‌

Ducommun

Inc.

†

......................................

2,509,760‌

674,000‌

Kaman

Corp.

.............................................

33,969,600‌

89,000‌

Moog

Inc.

,

Cl. A

........................................

7,481,340‌

16,500‌

Moog

Inc.

,

Cl. B

........................................

1,417,845‌

29,000‌

Woodward

Inc.

..........................................

3,563,520‌

50,253,420‌

Broadcasting

—

2

.1

%

123,000‌

Beasley

Broadcast

Group

Inc.

,

Cl. A

†

.........

355,470‌

10,000‌

Cogeco

Communications

Inc.

....................

977,815‌

23,300‌

Cogeco

Inc.

...............................................

1,807,085‌

185,000‌

Corus

Entertainment

Inc.

,

Cl. B

..................

949,177‌

40,000‌

Fox

Corp.

,

Cl. A

.........................................

1,485,200‌

25,000‌

Gray

Television

Inc.

...................................

585,000‌

72,350‌

Gray

Television

Inc.

,

Cl. A

..........................

1,540,331‌

260,000‌

ITV

plc

†

....................................................

451,551‌

13,000‌

Liberty

Broadband

Corp.

,

Cl. A

†

.................

2,186,210‌

11,000‌

Liberty

Broadband

Corp.

,

Cl. C

†

.................

1,910,260‌

Shares

Market

Value

20,000‌

Liberty

Media

Corp.-

Liberty

Formula

One

,

Cl. A

†

....................................................

$

852,600‌

27,000‌

Liberty

Media

Corp.-

Liberty

Formula

One

,

Cl. C

†

....................................................

1,301,670‌

64,000‌

Liberty

Media

Corp.-

Liberty

SiriusXM

,

Cl. A

†

....................................................

2,981,120‌

34,452‌

Liberty

Media

Corp.-

Liberty

SiriusXM

,

Cl. C

†

....................................................

1,598,228‌

33,000‌

Madison

Square

Garden

Entertainment

Corp.

†

...................................................

2,771,010‌

345,000‌

MSG

Networks

Inc.

,

Cl. A

†

.........................

5,030,100‌

22,900‌

Nexstar

Media

Group

Inc.

,

Cl. A

.................

3,386,452‌

105,000‌

Salem

Media

Group

Inc.

†

..........................

267,750‌

255,000‌

Sinclair

Broadcast

Group

Inc.

,

Cl. A

............

8,471,100‌

480,000‌

Sirius

XM

Holdings

Inc.

.............................

3,139,200‌

42,047,329‌

Building

and

Construction

—

6

.6

%

79,000‌

Arcosa

Inc.

................................................

4,640,460‌

95,000‌

D.R.

Horton

Inc.

........................................

8,585,150‌

28,000‌

Gibraltar

Industries

Inc.

†

...........................

2,136,680‌

343,000‌

Herc

Holdings

Inc.

†

...................................

38,440,010‌

128,000‌

KB

Home

..................................................

5,212,160‌

2,500‌

Legacy

Housing

Corp.

†

.............................

42,275‌

385,000‌

Lennar

Corp.

,

Cl. B

....................................

31,358,250‌

107,000‌

MDC

Holdings

Inc.

....................................

5,414,200‌

18,000‌

Meritage

Homes

Corp.

†

.............................

1,693,440‌

2,700‌

NVR

Inc.

†

.................................................

13,427,910‌

144,000‌

PulteGroup

Inc.

.........................................

7,858,080‌

64,000‌

Titan

Machinery

Inc.

†

................................

1,980,160‌

158,000‌

Toll

Brothers

Inc.

.......................................

9,133,980‌

129,922,755‌

Business

Services

—

3

.2

%

13,000‌

ACCO

Brands

Corp.

...................................

112,190‌

570,000‌

Clear

Channel

Outdoor

Holdings

Inc.

†

........

1,504,800‌

390,000‌

Diebold

Nixdorf

Inc.

†

.................................

5,007,600‌

60,000‌

Element

Solutions

Inc.

...............................

1,402,800‌

70,000‌

GP

Strategies

Corp.

†

.................................

1,100,400‌

13,000‌

GSE

Systems

Inc.

†

....................................

23,270‌

196,000‌

IAA

Inc.

†

...................................................

10,689,840‌

49,000‌

Live

Nation

Entertainment

Inc.

†

.................

4,291,910‌

40,000‌

Loomis

AB

................................................

1,251,212‌

166,000‌

Macquarie

Infrastructure

Corp.

..................

6,352,820‌

16,000‌

McGrath

RentCorp

....................................

1,305,120‌

20,000‌

Sealed

Air

Corp.

........................................

1,185,000‌

69,000‌

Sohgo

Security

Services

Co.

Ltd.

...............

3,142,716‌

8,000‌

Stamps.com

Inc.

†

.....................................

1,602,320‌

92,000‌

Team

Inc.

†

................................................

616,400‌

344,000‌

The

Interpublic

Group

of

Companies

Inc.

...

11,176,560‌

25,000‌

TransAct

Technologies

Inc.

†

......................

343,250‌

1,620,000‌

Trans-Lux

Corp.

†

(a)

..................................

602,478‌

2

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

June

30,

2021

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Business

Services

(Continued)

35,700‌

United

Rentals

Inc.

†

..................................

$

11,388,657‌

63,099,343‌

Cable

—

0

.7

%

52,500‌

AMC

Networks

Inc.

,

Cl. A

†

.........................

3,507,000‌

39,000‌

DISH

Network

Corp.

,

Cl. A

†

.......................

1,630,200‌

30,000‌

EchoStar

Corp.

,

Cl. A

†

...............................

728,700‌

121,000‌

Liberty

Global

plc

,

Cl. A

†

...........................

3,286,360‌

140,000‌

Liberty

Global

plc

,

Cl. C

†

...........................

3,785,600‌

85,000‌

WideOpenWest

Inc.

†

.................................

1,760,350‌

14,698,210‌

Communications

Equipment

—

0

.1

%

242,000‌

Communications

Systems

Inc.

...................

1,737,560‌

Computer

Software

and

Services

—

2

.0

%

74,000‌

Activision

Blizzard

Inc.

...............................

7,062,560‌

385,000‌

Alithya

Group

Inc.

,

Cl. A

†

...........................

1,081,850‌

157,000‌

GTY

Technology

Holdings

Inc.

†

.................

1,116,270‌

12,000‌

MKS

Instruments

Inc.

................................

2,135,400‌

37,000‌

Rockwell

Automation

Inc.

..........................

10,582,740‌

38,000‌

Tyler

Technologies

Inc.

†

............................

17,190,060‌

39,168,880‌

Consumer

Products

—

2

.2

%

35,000‌

1-800-Flowers.com

Inc.

,

Cl. A

†

..................

1,115,450‌

69,000‌

Brunswick

Corp.

........................................

6,873,780‌

32,000‌

Chofu

Seisakusho

Co.

Ltd.

.........................

576,084‌

40,500‌

Church

&

Dwight

Co.

Inc.

..........................

3,451,410‌

17,000‌

Energizer

Holdings

Inc.

..............................

730,660‌

5,000‌

Ginko

International

Co.

Ltd.

.......................

47,734‌

2,000‌

Harley-Davidson

Inc.

.................................

91,640‌

50,000‌

Hunter

Douglas

NV

†

..................................

5,454,450‌

2,500‌

Kobayashi

Pharmaceutical

Co.

Ltd.

............

213,556‌

3,800‌

LCI

Industries

...........................................

499,396‌

220,000‌

Marine

Products

Corp.

...............................

3,396,800‌

3,000‌

National

Presto

Industries

Inc.

...................

304,950‌

190,000‌

Sally

Beauty

Holdings

Inc.

†

.......................

4,193,300‌

215,000‌

Samick

Musical

Instruments

Co.

Ltd.

.........

379,923‌

3,700‌

Shimano

Inc.

.............................................

877,582‌

13,500‌

Steven

Madden

Ltd.

...................................

590,760‌

1,000,000‌

Swedish

Match

AB

....................................

8,527,594‌

10,000‌

The

Scotts

Miracle-Gro

Co.

........................

1,919,200‌

9,500‌

WD-40

Co.

................................................

2,434,755‌

85,000‌

Wolverine

World

Wide

Inc.

........................

2,859,400‌

44,538,424‌

Consumer

Services

—

1

.0

%

53,000‌

Bowlin

Travel

Centers

Inc.

†

........................

170,925‌

3,000‌

H&E

Equipment

Services

Inc.

....................

99,810‌

5,000‌

IAC/InterActiveCorp.

†

................................

770,850‌

260,000‌

KAR

Auction

Services

Inc.

†

.......................

4,563,000‌

Shares

Market

Value

400,000‌

Rollins

Inc.

................................................

$

13,680,000‌

19,284,585‌

Diversified

Industrial

—

10

.9

%

10,300‌

Acuity

Brands

Inc.

.....................................

1,926,409‌

57,000‌

Albany

International

Corp.

,

Cl. A

.................

5,087,820‌

240,000‌

Ampco-Pittsburgh

Corp.

†

..........................

1,456,800‌

65,000‌

Burnham

Holdings

Inc.

,

Cl. A

.....................

898,300‌

359,000‌

Crane

Co.

..................................................

33,160,830‌

108,000‌

EnPro

Industries

Inc.

.................................

10,492,200‌

114,000‌

Greif

Inc.

,

Cl. A

..........................................

6,902,700‌

96,362‌

Greif

Inc.

,

Cl. B

..........................................

5,685,358‌

1,355,000‌

Griffon

Corp.

.............................................

34,728,650‌

5,000‌

JSP

Corp.

.................................................

71,785‌

79,000‌

Kimball

International

Inc.

,

Cl. B

..................

1,038,850‌

75,000‌

L.B.

Foster

Co.

,

Cl. A

†

................................

1,398,000‌

50,000‌

Lawson

Products

Inc.

†

..............................

2,675,500‌

48,500‌

Lincoln

Electric

Holdings

Inc.

.....................

6,387,935‌

39,500‌

Lindsay

Corp.

............................................

6,528,560‌

22,500‌

Lydall

Inc.

†

...............................................

1,361,700‌

30,000‌

Matthews

International

Corp.

,

Cl. A

............

1,078,800‌

920,000‌

Myers

Industries

Inc.

.................................

19,320,000‌

72,000‌

Oil-Dri

Corp.

of

America

.............................

2,460,960‌

13,000‌

Olin

Corp.

.................................................

601,380‌

300,000‌

Park-Ohio

Holdings

Corp.

..........................

9,642,000‌

12,500‌

Pentair

plc

.................................................

843,625‌

94,000‌

Raven

Industries

Inc.

.................................

5,437,900‌

15,600‌

Roper

Technologies

Inc.

............................

7,335,120‌

61,000‌

Sonoco

Products

Co.

.................................

4,080,900‌

53,000‌

Standex

International

Corp.

........................

5,030,230‌

110,000‌

Steel

Connect

Inc.

†

...................................

220,000‌

80,029‌

Steel

Partners

Holdings

LP

†

......................

2,330,445‌

13,000‌

T.

Hasegawa

Co.

Ltd.

.................................

287,862‌

7,000‌

Terex

Corp.

...............................................

333,340‌

341,500‌

Textron

Inc.

...............................................

23,484,955‌

400,000‌

Tredegar

Corp.

..........................................

5,508,000‌

228,000‌

Trinity

Industries

Inc.

.................................

6,130,920‌

48,000‌

Ultra

Electronics

Holdings

plc

....................

1,520,523‌

215,448,357‌

Electronics

—

2

.1

%

138,500‌

Badger

Meter

Inc.

......................................

13,589,620‌

213,800‌

Bel

Fuse

Inc.

,

Cl. A

(a)

................................

3,061,616‌

472,000‌

CTS

Corp.

.................................................

17,539,520‌

30,000‌

Daktronics

Inc.

†

........................................

197,700‌

115,000‌

Gentex

Corp.

.............................................

3,805,350‌

20,000‌

IMAX

Corp.

†

.............................................

430,000‌

30,000‌

Renesas

Electronics

Corp.

†

.......................

324,317‌

65,000‌

Stoneridge

Inc.

†

........................................

1,917,500‌

40,865,623‌

Energy

and

Utilities

—

2

.3

%

19,000‌

Avangrid

Inc.

.............................................

977,170‌

18,500‌

Callon

Petroleum

Co.

†

...............................

1,067,265‌

3

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

June

30,

2021

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Energy

and

Utilities

(Continued)

15,000‌

Chesapeake

Utilities

Corp.

.........................

$

1,804,950‌

35,500‌

CMS

Energy

Corp.

.....................................

2,097,340‌

11,000‌

Consolidated

Water

Co.

Ltd.

.......................

129,030‌

100,000‌

Covanta

Holding

Corp.

...............................

1,761,000‌

45,500‌

Diamondback

Energy

Inc.

..........................

4,271,995‌

32,700‌

Dril-Quip

Inc.

†

...........................................

1,106,241‌

74,000‌

Energy

Recovery

Inc.

†

...............................

1,685,720‌

24,000‌

Landis+Gyr

Group

AG

................................

1,675,655‌

25,000‌

Marathon

Petroleum

Corp.

.........................

1,510,500‌

31,000‌

Middlesex

Water

Co.

..................................

2,533,630‌

11,000‌

Northwest

Natural

Holding

Co.

...................

577,720‌

21,500‌

NorthWestern

Corp.

...................................

1,294,730‌

13,500‌

Otter

Tail

Corp.

..........................................

658,935‌

5,500‌

PNM

Resources

Inc.

..................................

268,235‌

1,850,000‌

RPC

Inc.

†

.................................................

9,157,500‌

20,000‌

Siemens

Gamesa

Renewable

Energy

SA

†

...

667,815‌

89,000‌

SJW

Group

...............................................

5,633,700‌

32,500‌

Southwest

Gas

Holdings

Inc.

.....................

2,151,175‌

9,000‌

Spire

Inc.

..................................................

650,430‌

34,000‌

The

York

Water

Co.

....................................

1,540,200‌

55,000‌

Vestas

Wind

Systems

A/S

..........................

2,146,940‌

45,367,876‌

Entertainment

—

1

.3

%

43,000‌

Discovery

Inc.

,

Cl. A

†

................................

1,319,240‌

70,000‌

Discovery

Inc.

,

Cl. C

†

................................

2,028,600‌

76,500‌

Inspired

Entertainment

Inc.

†

......................

975,375‌

100,000‌

Liberty

Media

Corp.-

Liberty

Braves

,

Cl. A

†

2,822,000‌

197,000‌

Liberty

Media

Corp.-

Liberty

Braves

,

Cl. C

†

5,470,690‌

34,000‌

Madison

Square

Garden

Sports

Corp.

†

......

5,867,380‌

49,000‌

Manchester

United

plc

,

Cl. A

......................

744,310‌

10,000‌

Take-Two

Interactive

Software

Inc.

†

...........

1,770,200‌

4,000‌

The

Walt

Disney

Co.

†

................................

703,080‌

36,000‌

Universal

Entertainment

Corp.

†

..................

798,452‌

60,000‌

World

Wrestling

Entertainment

Inc.

,

Cl. A

...

3,473,400‌

25,972,727‌

Environmental

Services

—

0

.4

%

25,000‌

Primo

Water

Corp.

.....................................

418,250‌

73,000‌

Republic

Services

Inc.

...............................

8,030,730‌

8,448,980‌

Equipment

and

Supplies

—

15

.3

%

25,500‌

A.O.

Smith

Corp.

.......................................

1,837,530‌

411,500‌

AMETEK

Inc.

.............................................

54,935,250‌

52,000‌

AZZ

Inc.

....................................................

2,692,560‌

14,500‌

Chart

Industries

Inc.

†

................................

2,121,640‌

144,000‌

CIRCOR

International

Inc.

†

........................

4,694,400‌

325,000‌

Core

Molding

Technologies

Inc.

†

...............

5,014,750‌

138,000‌

Crown

Holdings

Inc.

..................................

14,104,980‌

2,025‌

Danaher

Corp.

...........................................

543,429‌

100,000‌

Donaldson

Co.

Inc.

....................................

6,353,000‌

Shares

Market

Value

55,000‌

Entegris

Inc.

..............................................

$

6,763,350‌

235,000‌

Federal

Signal

Corp.

..................................

9,454,050‌

241,000‌

Flowserve

Corp.

........................................

9,717,120‌

170,000‌

Franklin

Electric

Co.

Inc.

............................

13,705,400‌

460,000‌

Graco

Inc.

.................................................

34,822,000‌

35,000‌

IDEX

Corp.

................................................

7,701,750‌

155,000‌

Interpump

Group

SpA

...............................

9,178,535‌

8,000‌

Littelfuse

Inc.

............................................

2,038,320‌

110,000‌

Maezawa

Kyuso

Industries

Co.

Ltd.

............

1,019,848‌

60,000‌

Minerals

Technologies

Inc.

........................

4,720,200‌

6,000‌

MSA

Safety

Inc.

........................................

993,480‌

683,500‌

Mueller

Industries

Inc.

...............................

29,602,385‌

357,000‌

Mueller

Water

Products

Inc.

,

Cl. A

..............

5,147,940‌

3,600‌

Teleflex

Inc.

...............................................

1,446,444‌

172,200‌

Tennant

Co.

...............................................

13,750,170‌

768,000‌

The

Gorman-Rupp

Co.

...............................

26,449,920‌

98,000‌

The

Greenbrier

Companies

Inc.

..................

4,270,840‌

110,003‌

The

L.S.

Starrett

Co.

,

Cl. A

†

.......................

1,027,428‌

30,000‌

The

Manitowoc

Co.

Inc.

†

...........................

735,000‌

61,000‌

The

Middleby

Corp.

†

.................................

10,568,860‌

35,000‌

The

Timken

Co.

.........................................

2,820,650‌

30,000‌

The

Toro

Co.

.............................................

3,296,400‌

7,000‌

Valmont

Industries

Inc.

..............................

1,652,350‌

4,500‌

Vicor

Corp.

†

..............................................

475,830‌

7,875‌

Watsco

Inc.

,

Cl. B

......................................

2,282,923‌

53,000‌

Watts

Water

Technologies

Inc.

,

Cl. A

..........

7,733,230‌

303,671,962‌

Financial

Services

—

4

.6

%

5,000‌

Alleghany

Corp.

†

.......................................

3,335,350‌

8,240‌

Ameris

Bancorp

........................................

417,191‌

25,000‌

Argo

Group

International

Holdings

Ltd.

......

1,295,750‌

12,000‌

Capitol

Federal

Financial

Inc.

......................

141,360‌

21,800‌

Crazy

Woman

Creek

Bancorp

Inc.

..............

506,741‌

325,000‌

Energy

Transfer

LP

....................................

3,454,750‌

130‌

Farmers

&

Merchants

Bank

of

Long

Beach

.

1,066,000‌

329,950‌

Flushing

Financial

Corp.

.............................

7,070,829‌

66,000‌

FNB

Corp.

.................................................

813,780‌

220,000‌

GAM

Holding

AG

†

.....................................

477,925‌

278,000‌

Hope

Bancorp

Inc.

.....................................

3,942,040‌

410,000‌

Huntington

Bancshares

Inc.

.......................

5,850,700‌

715,000‌

KKR

&

Co.

Inc.

..........................................

42,356,600‌

80,000‌

Medallion

Financial

Corp.

†

.........................

708,800‌

55,000‌

Pzena

Investment

Management

Inc.

,

Cl. A

..

605,550‌

44,000‌

Sandy

Spring

Bancorp

Inc.

........................

1,941,720‌

13,500‌

Sculptor

Capital

Management

Inc.

..............

331,965‌

800‌

South

State

Corp.

......................................

65,408‌

9,000‌

State

Auto

Financial

Corp.

..........................

154,080‌

372,000‌

Sterling

Bancorp

.......................................

9,221,880‌

45,000‌

Synovus

Financial

Corp.

............................

1,974,600‌

16,000‌

TFS

Financial

Corp.

....................................

324,800‌

15,000‌

Thomasville

Bancshares

Inc.

......................

1,020,000‌

230,000‌

Valley

National

Bancorp

.............................

3,088,900‌

4

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

June

30,

2021

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Financial

Services

(Continued)

35,500‌

Value

Line

Inc.

..........................................

$

1,100,500‌

10,000‌

Waterloo

Investment

Holdings

Ltd.

†

(b)

......

3,000‌

133,000‌

Wright

Investors'

Service

Holdings

Inc.

†

....

32,718‌

91,302,937‌

Food

and

Beverage

—

6

.3

%

425,000‌

Arca

Continental

SAB

de

CV

.......................

2,459,516‌

80,000‌

Brown-Forman

Corp.

,

Cl. A

........................

5,640,000‌

40,000‌

Bull-Dog

Sauce

Co.

Ltd.

.............................

829,920‌

900,000‌

China

Tontine

Wines

Group

Ltd.

†

...............

11,244‌

196,000‌

Chr.

Hansen

Holding

A/S

............................

17,689,615‌

283,000‌

Crimson

Wine

Group

Ltd.

†

........................

2,586,620‌

220,000‌

Denny's

Corp.

†

.........................................

3,627,800‌

500,000‌

Dynasty

Fine

Wines

Group

Ltd.

†

................

33,487‌

70,000‌

Farmer

Brothers

Co.

†

................................

888,300‌

415,000‌

Flowers

Foods

Inc.

....................................

10,043,000‌

115,000‌

ITO

EN

Ltd.

...............................................

6,821,639‌

46,000‌

Iwatsuka

Confectionery

Co.

Ltd.

.................

1,639,678‌

23,000‌

J

&

J

Snack

Foods

Corp.

...........................

4,011,430‌

115,000‌

Kameda

Seika

Co.

Ltd.

...............................

4,585,715‌

260,000‌

Kikkoman

Corp.

.........................................

17,154,687‌

700,000‌

Maple

Leaf

Foods

Inc.

...............................

14,529,687‌

6,000‌

MEIJI

Holdings

Co.

Ltd.

.............................

359,152‌

17,000‌

MGP

Ingredients

Inc.

.................................

1,149,880‌

66,000‌

Morinaga

Milk

Industry

Co.

Ltd.

.................

3,439,759‌

45,000‌

Nissin

Foods

Holdings

Co.

Ltd.

..................

3,240,470‌

15,000‌

Post

Holdings

Inc.

†

...................................

1,627,050‌

75,000‌

Rock

Field

Co.

Ltd.

....................................

996,445‌

1,800‌

The

Boston

Beer

Co.

Inc.

,

Cl. A

†

................

1,837,440‌

57,200‌

The

J.M.

Smucker

Co.

...............................

7,411,404‌

625,000‌

Tingyi

(Cayman

Islands)

Holding

Corp.

......

1,247,698‌

36,051‌

Tootsie

Roll

Industries

Inc.

........................

1,222,489‌

390,000‌

Vina

Concha

y

Toro

SA

..............................

687,501‌

950,000‌

Vitasoy

International

Holdings

Ltd.

.............

3,529,938‌

20,000‌

Willamette

Valley

Vineyards

Inc.

†

...............

273,600‌

100,000‌

Yakult

Honsha

Co.

Ltd.

..............................

5,661,821‌

125,236,985‌

Health

Care

—

5

.8

%

1,600‌

Align

Technology

Inc.

†

..............................

977,600‌

6,700‌

Bio-Rad

Laboratories

Inc.

,

Cl. A

†

...............

4,316,743‌

14,000‌

Bruker

Corp.

.............................................

1,063,720‌

1,000‌

Chemed

Corp.

...........................................

474,500‌

22,000‌

CONMED

Corp.

.........................................

3,023,460‌

32,000‌

Covetrus

Inc.

†

...........................................

864,000‌

420,000‌

Cutera

Inc.

†

..............................................

20,592,600‌

12,500‌

Dexcom

Inc.

†

............................................

5,337,500‌

13,000‌

Evolent

Health

Inc.

,

Cl. A

†

..........................

274,560‌

165,500‌

Globus

Medical

Inc.

,

Cl. A

†

........................

12,831,215‌

72,000‌

Henry

Schein

Inc.

†

....................................

5,341,680‌

28,500‌

ICU

Medical

Inc.

†

......................................

5,865,300‌

36,000‌

Masimo

Corp.

†

.........................................

8,728,200‌

Shares

Market

Value

80,000‌

Meridian

Bioscience

Inc.

†

..........................

$

1,774,400‌

48,000‌

Neogen

Corp.

†

..........................................

2,209,920‌

103,500‌

NuVasive

Inc.

†

..........................................

7,015,230‌

216,000‌

OPKO

Health

Inc.

†

.....................................

874,800‌

129,000‌

Orthofix

Medical

Inc.

†

...............................

5,174,190‌

19,000‌

Patterson

Cos.

Inc.

....................................

577,410‌

79,000‌

Quidel

Corp.

†

............................................

10,121,480‌

24,000‌

Seikagaku

Corp.

........................................

233,530‌

31,000‌

STERIS

plc

................................................

6,395,300‌

1,900‌

Straumann

Holding

AG

..............................

3,028,911‌

3,000‌

Stryker

Corp.

.............................................

779,190‌

80,000‌

Surgalign

Holdings

Inc.

†

...........................

111,200‌

30,000‌

SurModics

Inc.

†

........................................

1,627,500‌

27,700‌

Teladoc

Health

Inc.

†

..................................

4,606,233‌

100‌

The

Cooper

Companies

Inc.

.......................

39,627‌

38,000‌

United-Guardian

Inc.

.................................

569,620‌

114,829,619‌

Home

Furnishings

—

0

.4

%

171,500‌

Bassett

Furniture

Industries

Inc.

................

4,176,025‌

5,000‌

Ethan

Allen

Interiors

Inc.

...........................

138,000‌

70,000‌

La-Z-Boy

Inc.

............................................

2,592,800‌

6,906,825‌

Hotels

and

Gaming

—

4

.4

%

140,000‌

Boyd

Gaming

Corp.

†

.................................

8,608,600‌

191,040‌

Canterbury

Park

Holding

Corp.

†

.................

2,861,779‌

118,000‌

Churchill

Downs

Inc.

.................................

23,394,680‌

120,000‌

Formosa

International

Hotels

Corp.

............

628,802‌

554,000‌

Full

House

Resorts

Inc.

†

............................

5,506,760‌

48,508‌

Gaming

and

Leisure

Properties

Inc.

,

REIT

..

2,247,376‌

800,000‌

Genting

Singapore

Ltd.

..............................

496,765‌

160,000‌

Golden

Entertainment

Inc.

†

........................

7,168,000‌

2,750,000‌

Mandarin

Oriental

International

Ltd.

†

.........

5,500,000‌

3,500‌

Penn

National

Gaming

Inc.

†

.......................

267,715‌

307,500‌

Ryman

Hospitality

Properties

Inc.

,

REIT

†

...

24,280,200‌

2,600,000‌

The

Hongkong

&

Shanghai

Hotels

Ltd.

†

.....

2,735,855‌

127,000‌

The

Marcus

Corp.

†

....................................

2,693,670‌

13,500‌

Wynn

Resorts

Ltd.

†

...................................

1,651,050‌

88,041,252‌

Machinery

—

2

.9

%

342,000‌

Astec

Industries

Inc.

..................................

21,525,480‌

1,427,000‌

CNH

Industrial

NV

.....................................

23,859,440‌

90,000‌

Kennametal

Inc.

........................................

3,232,800‌

5,300‌

Nordson

Corp.

..........................................

1,163,403‌

160,000‌

The

Eastern

Co.

.........................................

4,852,800‌

100,000‌

Twin

Disc

Inc.

†

..........................................

1,423,000‌

100,000‌

Welbilt

Inc.

†

..............................................

2,315,000‌

58,371,923‌

Manufactured

Housing

and

Recreational

Vehicles

—

1

.3

%

71,000‌

Cavco

Industries

Inc.

†

...............................

15,775,490‌

69,765‌

Nobility

Homes

Inc.

...................................

2,511,540‌

84,000‌

Skyline

Champion

Corp.

†

..........................

4,477,200‌

5

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

June

30,

2021

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Manufactured

Housing

and

Recreational

Vehicles

(Continued)

53,000‌

Winnebago

Industries

Inc.

.........................

$

3,601,880‌

26,366,110‌

Metals

and

Mining

—

0

.1

%

45,000‌

Ivanhoe

Mines

Ltd.

,

Cl. A

†

.........................

324,903‌

95,000‌

Kinross

Gold

Corp.

....................................

603,250‌

2,000‌

Turquoise

Hill

Resources

Ltd.

†

..................

33,740‌

961,893‌

Publishing

—

1

.0

%

2,500‌

Graham

Holdings

Co.

,

Cl. B

........................

1,584,750‌

5,000‌

John

Wiley

&

Sons

Inc.

,

Cl. B

....................

299,550‌

18,500‌

Meredith

Corp.

†

........................................

803,640‌

34,000‌

News

Corp.

,

Cl. A

......................................

876,180‌

775,000‌

The

E.W.

Scripps

Co.

,

Cl. A

........................

15,802,250‌

19,366,370‌

Real

Estate

—

2

.7

%

78,500‌

Capital

Properties

Inc.

,

Cl. A

......................

1,091,150‌

6,967‌

Gyrodyne

LLC

†

.........................................

93,358‌

263,306‌

Indus

Realty

Trust

Inc.

,

REIT

......................

17,286,039‌

18,300‌

Lamar

Advertising

Co.

,

Cl. A,

REIT

.............

1,910,886‌

90,000‌

Morguard

Corp.

.........................................

10,248,064‌

230‌

Reading

International

Inc.

,

Cl. A

†

...............

1,603‌

3,500‌

Reading

International

Inc.

,

Cl. B

†

...............

82,180‌

12,500‌

Seritage

Growth

Properties

,

Cl. A,

REIT

†

....

230,000‌

130,000‌

Tejon

Ranch

Co.

†

......................................

1,977,300‌

440,000‌

The

St.

Joe

Co.

..........................................

19,628,400‌

95,000‌

Trinity

Place

Holdings

Inc.

†

.......................

200,450‌

52,749,430‌

Retail

—

5

.0

%

129,000‌

AutoNation

Inc.

†

.......................................

12,230,490‌

9,000‌

Big

5

Sporting

Goods

Corp.

.......................

231,120‌

950‌

Biglari

Holdings

Inc.

,

Cl. A

†

.......................

740,050‌

92,600‌

Copart

Inc.

†

..............................................

12,207,458‌

500‌

Hertz

Global

Holdings

Inc.

†

.......................

4,370‌

495,000‌

Ingles

Markets

Inc.

,

Cl. A

...........................

28,843,650‌

35,000‌

Lands'

End

Inc.

†

.......................................

1,436,750‌

80,000‌

Movado

Group

Inc.

....................................

2,517,600‌

155,500‌

Nathan's

Famous

Inc.

................................

11,090,260‌

72,000‌

Penske

Automotive

Group

Inc.

...................

5,435,280‌

93,000‌

Pets

at

Home

Group

plc

.............................

586,630‌

348,000‌

Rush

Enterprises

Inc.

,

Cl. B

.......................

13,272,720‌

10,000‌

Salvatore

Ferragamo

SpA

†

........................

213,968‌

10,000‌

The

Cheesecake

Factory

Inc.

†

....................

541,800‌

42,000‌

Tractor

Supply

Co.

.....................................

7,814,520‌

60,000‌

Village

Super

Market

Inc.

,

Cl. A

..................

1,410,600‌

100‌

Vroom

Inc.

†

..............................................

4,186‌

11,500‌

Weis

Markets

Inc.

......................................

594,090‌

600‌

Winmark

Corp.

..........................................

115,248‌

99,290,790‌

Shares

Market

Value

Specialty

Chemicals

—

3

.8

%

3,500‌

Albemarle

Corp.

........................................

$

589,610‌

28,000‌

Ashland

Global

Holdings

Inc.

.....................

2,450,000‌

1,630,000‌

Ferro

Corp.

†

..............................................

35,159,100‌

170,046‌

GCP

Applied

Technologies

Inc.

†

.................

3,955,270‌

272,000‌

H.B.

Fuller

Co.

...........................................

17,301,920‌

36,000‌

Hawkins

Inc.

.............................................

1,179,000‌

58,000‌

Huntsman

Corp.

........................................

1,538,160‌

6,400‌

NewMarket

Corp.

......................................

2,060,672‌

9,200‌

Quaker

Chemical

Corp.

..............................

2,182,148‌

54,000‌

Sensient

Technologies

Corp.

......................

4,674,240‌

2,500‌

Takasago

International

Corp.

......................

60,759‌

91,200‌

The

General

Chemical

Group

Inc.

†

.............

456‌

130,000‌

Valvoline

Inc.

............................................

4,219,800‌

75,371,135‌

Telecommunications

—

0

.9

%

68,000‌

Consolidated

Communications

Holdings

Inc.

†

......................................................

597,720‌

70,000‌

Gogo

Inc.

†

................................................

796,600‌

162,000‌

HC2

Holdings

Inc.

†

...................................

644,760‌

6,000‌

IDT

Corp.

,

Cl. B

†

.......................................

221,760‌

65,000‌

Iridium

Communications

Inc.

†

...................

2,599,350‌

50,000‌

Loral

Space

&

Communications

Inc.

..........

1,942,500‌

86,500‌

Nuvera

Communications

Inc.

.....................

2,032,750‌

84,000‌

Rogers

Communications

Inc.

,

Cl. B

............

4,463,760‌

75,000‌

Shenandoah

Telecommunications

Co.

........

3,638,250‌

710,000‌

VEON

Ltd.

,

ADR

†

......................................

1,299,300‌

4,000‌

Verizon

Communications

Inc.

....................

224,120‌

18,460,870‌

Transportation

—

1

.8

%

384,000‌

GATX

Corp.

...............................................

33,972,480‌

18,600‌

Irish

Continental

Group

plc

†

......................

95,278‌

95,053‌

Navigator

Holdings

Ltd.

†

...........................

1,040,830‌

35,108,588‌

Wireless

Communications

—

0

.1

%

51,000‌

United

States

Cellular

Corp.

†

.....................

1,851,810‌

TOTAL

COMMON

STOCKS

.........................

1,959,226,575‌

CLOSED-END

FUNDS

—

0

.2

%

55,000‌

The

Central

Europe,

Russia,

and

Turkey

Fund

Inc.

...............................................

1,543,300‌

32,729‌

The

European

Equity

Fund

Inc.

...................

372,456‌

119,537‌

The

New

Germany

Fund

Inc.

......................

2,417,636‌

TOTAL

CLOSED-END

FUNDS

.....................

4,333,392‌

PREFERRED

STOCKS

—

0

.3

%

Automotive:

Parts

and

Accessories

—

0

.3

%

103,000‌

Jungheinrich

AG

........................................

5,034,291‌

6

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

June

30,

2021

(Unaudited)

Shares

Market

Value

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

†

(b)

...........

652‌

Diversified

Industrial

—

0.0

%

140,000‌

Ampco-Pittsburgh

Corp.

,

expire

08/01/25

†

126,000‌

TOTAL

WARRANTS

...................................

126,652‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

—

0.0

%

$

995,000‌

U.S.

Treasury

Bill,

0.030

%

††

,

07/08/21

..............................

994,994‌

TOTAL

MISCELLANEOUS

INVESTMENTS

—

0

.6

%

(c)

............................................

11,194,820‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$

549,309,316

)

..............................

$

1,980,910,726‌

(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