1

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

—

December

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

—

98

.8

%

Aerospace

—

0

.1

%

30,500‌

Allient

Inc.

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

$

921,405‌

40,000‌

Innovative

Solutions

and

Support

Inc.

†

.....

341,200‌

7,000‌

Kratos

Defense

&

Security

Solutions

Inc.

†

142,030‌

1,404,635‌

Agriculture

—

0

.1

%

10,000‌

Cadiz

Inc.

†

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

28,000‌

56,000‌

Limoneira

Co.

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

1,155,280‌

1,183,280‌

Automotive

—

0

.3

%

430,000‌

Iveco

Group

NV

†

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

3,866,894‌

65,000‌

The

Shyft

Group

Inc.

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

794,300‌

4,661,194‌

Automotive:

Parts

and

Accessories

—

4

.3

%

147,500‌

BorgWarner

Inc.

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

5,287,875‌

840,000‌

Brembo

SpA

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

10,293,230‌

94,022‌

China

Automotive

Systems

Inc.

†

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

303,691‌

74,100‌

Commercial

Vehicle

Group

Inc.

†

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

519,441‌

1,115,000‌

Dana

Inc.

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

16,290,150‌

320,000‌

Modine

Manufacturing

Co.

†

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

19,104,000‌

46,000‌

Monro

Inc.

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

1,349,640‌

4,300‌

O'Reilly

Automotive

Inc.

†

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

4,085,344‌

45,000‌

Puradyn

Filter

Technologies

Inc.

†

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

0‌

180,000‌

Standard

Motor

Products

Inc.

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

7,165,800‌

253,000‌

Strattec

Security

Corp.

†

(a)

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

6,352,830‌

18,400‌

Thor

Industries

Inc.

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

2,175,800‌

72,927,801‌

Aviation:

Parts

and

Services

—

2

.3

%

20,000‌

AAR

Corp.

†

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

1,248,000‌

9,500‌

Astronics

Corp.

†

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

165,490‌

23,200‌

Astronics

Corp.

,

Cl. B

†

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

404,608‌

48,000‌

Ducommun

Inc.

†

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

2,498,880‌

670,500‌

Kaman

Corp.

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

16,058,475‌

89,000‌

Moog

Inc.

,

Cl. A

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

12,885,420‌

18,000‌

Moog

Inc.

,

Cl. B

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

2,662,200‌

20,000‌

Woodward

Inc.

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

2,722,600‌

38,645,673‌

Broadcasting

—

1

.3

%

150,000‌

Beasley

Broadcast

Group

Inc.

,

Cl. A

†

........

131,700‌

10,000‌

Cogeco

Communications

Inc.

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

447,908‌

24,000‌

Cogeco

Inc.

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

1,035,493‌

200,000‌

Corus

Entertainment

Inc.

,

Cl. B

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

107,166‌

39,500‌

Fox

Corp.

,

Cl. A

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

1,171,965‌

25,000‌

Gray

Television

Inc.

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

224,000‌

71,700‌

Gray

Television

Inc.

,

Cl. A

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

614,132‌

450,000‌

Grupo

Televisa

SAB

,

ADR

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

1,503,000‌

280,000‌

ITV

plc

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

225,848‌

13,000‌

Liberty

Broadband

Corp.

,

Cl. A

†

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

1,048,320‌

11,000‌

Liberty

Broadband

Corp.

,

Cl. C

†

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

886,490‌

Shares

Market

Value

20,000‌

Liberty

Media

Corp.-Liberty

Formula

One

,

Cl. A

†

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

$

1,159,600‌

27,000‌

Liberty

Media

Corp.-Liberty

Formula

One

,

Cl. C

†

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

1,704,510‌

34,452‌

Liberty

Media

Corp.-Liberty

SiriusXM

†

......

991,528‌

64,000‌

Liberty

Media

Corp.-Liberty

SiriusXM

,

Cl. A

†

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

1,839,360‌

22,000‌

Nexstar

Media

Group

Inc.

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

3,448,500‌

100,000‌

Salem

Media

Group

Inc.

†

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

39,000‌

480,000‌

Sirius

XM

Holdings

Inc.

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

2,625,600‌

93,000‌

Sphere

Entertainment

Co.

†

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

3,158,280‌

22,362,400‌

Building

and

Construction

—

7

.2

%

78,200‌

Arcosa

Inc.

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

6,462,448‌

200,000‌

Armstrong

Flooring

Inc.

†

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

20‌

34,000‌

D.R.

Horton

Inc.

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

5,167,320‌

30,000‌

Gibraltar

Industries

Inc.

†

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

2,369,400‌

218,700‌

Herc

Holdings

Inc.

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

32,562,243‌

80,000‌

KB

Home

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

4,996,800‌

3,000‌

Legacy

Housing

Corp.

†

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

75,660‌

352,600‌

Lennar

Corp.

,

Cl. B

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

47,266,030‌

64,000‌

MDC

Holdings

Inc.

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

3,536,000‌

1,300‌

Meritage

Homes

Corp.

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

226,460‌

1,210‌

NVR

Inc.

†

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

8,470,545‌

47,400‌

PulteGroup

Inc.

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

4,892,628‌

400‌

The

Monarch

Cement

Co.

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

63,800‌

90,000‌

Titan

Machinery

Inc.

†

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

2,599,200‌

36,500‌

Toll

Brothers

Inc.

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

3,751,835‌

122,440,389‌

Business

Services

—

2

.2

%

13,000‌

ACCO

Brands

Corp.

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

79,040‌

500,000‌

Clear

Channel

Outdoor

Holdings

Inc.

†

.......

910,000‌

60,000‌

Element

Solutions

Inc.

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

1,388,400‌

35,500‌

Live

Nation

Entertainment

Inc.

†

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

3,322,800‌

40,000‌

Loomis

AB

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

1,061,268‌

92,340‌

Madison

Square

Garden

Entertainment

Corp.

†

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

2,935,488‌

15,000‌

McGrath

RentCorp

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

1,794,300‌

31,000‌

Outfront

Media

Inc.

,

REIT

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

432,760‌

20,000‌

Sealed

Air

Corp.

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

730,400‌

345,000‌

Sohgo

Security

Services

Co.

Ltd.

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

1,984,851‌

1,500‌

Team

Inc.

†

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

9,900‌

66,000‌

The

Interpublic

Group

of

Companies

Inc.

..

2,154,240‌

25,000‌

TransAct

Technologies

Inc.

†

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

174,500‌

1,600,000‌

Trans-Lux

Corp.

†

(a)

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

1,280,000‌

34,000‌

United

Rentals

Inc.

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

19,496,280‌

37,754,227‌

Cable

—

0

.1

%

54,500‌

AMC

Networks

Inc.

,

Cl. A

†

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

1,024,055‌

60,000‌

EchoStar

Corp.

,

Cl. A

†

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

994,200‌

2

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

December

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Cable

(Continued)

90,000‌

WideOpenWest

Inc.

†

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

$

364,500‌

2,382,755‌

Communications

Equipment

—

0

.1

%

150,000‌

Telesat

Corp.

†

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

1,564,500‌

Computer

Software

and

Services

—

1

.3

%

370,000‌

Alithya

Group

Inc.

,

Cl. A

†

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

484,700‌

1,300‌

GSE

Systems

Inc.

†

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

2,665‌

10,000‌

I3

Verticals

Inc.

,

Cl. A

†

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

211,700‌

11,000‌

MKS

Instruments

Inc.

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

1,131,570‌

24,500‌

Rockwell

Automation

Inc.

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

7,606,760‌

31,000‌

Tyler

Technologies

Inc.

†

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

12,961,720‌

22,399,115‌

Consumer

Products

—

1

.4

%

135,000‌

1-800-Flowers.com

Inc.

,

Cl. A

†

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

1,455,300‌

67,000‌

Brunswick

Corp.

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

6,482,250‌

32,000‌

Chofu

Seisakusho

Co.

Ltd.

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

461,617‌

39,700‌

Church

&

Dwight

Co.

Inc.

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

3,754,032‌

38,000‌

Energizer

Holdings

Inc.

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

1,203,840‌

2,000‌

Harley-Davidson

Inc.

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

73,680‌

2,500‌

Kobayashi

Pharmaceutical

Co.

Ltd.

...........

120,390‌

3,200‌

LCI

Industries

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

402,272‌

216,000‌

Marine

Products

Corp.

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

2,462,400‌

5,500‌

National

Presto

Industries

Inc.

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

441,540‌

225,000‌

Sally

Beauty

Holdings

Inc.

†

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

2,988,000‌

215,000‌

Samick

Musical

Instruments

Co.

Ltd.

........

181,963‌

3,700‌

Shimano

Inc.

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

572,975‌

9,500‌

Steven

Madden

Ltd.

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

399,000‌

12,000‌

The

Scotts

Miracle-Gro

Co.

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

765,000‌

9,500‌

WD-40

Co.

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

2,271,165‌

84,000‌

Wolverine

World

Wide

Inc.

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

746,760‌

24,782,184‌

Consumer

Services

—

0

.9

%

53,000‌

Bowlin

Travel

Centers

Inc.

†

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

226,310‌

16,000‌

H&E

Equipment

Services

Inc.

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

837,120‌

5,000‌

IAC

Inc.

†

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

261,900‌

180,000‌

OPENLANE

Inc.

†

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

2,665,800‌

277,500‌

Rollins

Inc.

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

12,118,425‌

16,109,555‌

Diversified

Industrial

—

12

.8

%

10,000‌

Acuity

Brands

Inc.

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

2,048,300‌

51,000‌

Albany

International

Corp.

,

Cl. A

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

5,009,220‌

195,000‌

Ampco-Pittsburgh

Corp.

†

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

532,350‌

66,000‌

Burnham

Holdings

Inc.

,

Cl. A

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

775,500‌

355,000‌

Crane

Co.

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

41,939,700‌

200,000‌

Crane

NXT

Co.

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

11,374,000‌

99,000‌

Distribution

Solutions

Group

Inc.

†

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

3,124,440‌

5,000‌

Enerpac

Tool

Group

Corp.

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

155,450‌

83,500‌

Enpro

Inc.

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

13,087,790‌

Shares

Market

Value

103,500‌

Greif

Inc.

,

Cl. A

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

$

6,788,565‌

93,500‌

Greif

Inc.

,

Cl. B

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

6,171,935‌

310,000‌

Griffon

Corp.

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

18,894,500‌

32,000‌

Hyster-Yale

Materials

Handling

Inc.

...........

1,990,080‌

159,500‌

INNOVATE

Corp.

†

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

196,185‌

6,000‌

JSP

Corp.

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

77,957‌

116,000‌

L.B.

Foster

Co.

,

Cl. A

†

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

2,550,840‌

40,000‌

Lincoln

Electric

Holdings

Inc.

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

8,698,400‌

31,200‌

Lindsay

Corp.

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

4,029,792‌

37,500‌

Matthews

International

Corp.

,

Cl. A

...........

1,374,375‌

915,000‌

Myers

Industries

Inc.

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

17,888,250‌

70,000‌

Oil-Dri

Corp.

of

America

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

4,695,600‌

13,000‌

Olin

Corp.

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

701,350‌

323,000‌

Park-Ohio

Holdings

Corp.

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

8,708,080‌

12,500‌

Pentair

plc

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

908,875‌

14,000‌

Roper

Technologies

Inc.

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

7,632,380‌

53,200‌

Sonoco

Products

Co.

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

2,972,284‌

48,900‌

Standex

International

Corp.

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

7,744,782‌

84,500‌

Steel

Partners

Holdings

LP

†

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

3,380,000‌

13,000‌

T.

Hasegawa

Co.

Ltd.

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

286,277‌

7,000‌

Terex

Corp.

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

402,220‌

335,500‌

Textron

Inc.

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

26,980,910‌

467,000‌

Tredegar

Corp.

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

2,526,470‌

221,000‌

Trinity

Industries

Inc.

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

5,876,390‌

219,523,247‌

Electronics

—

3

.2

%

110,000‌

Badger

Meter

Inc.

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

16,980,700‌

206,000‌

Bel

Fuse

Inc.

,

Cl. A

(a)

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

13,208,720‌

400,000‌

CTS

Corp.

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

17,496,000‌

60,000‌

Daktronics

Inc.

†

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

508,800‌

120,000‌

Gentex

Corp.

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

3,919,200‌

20,000‌

IMAX

Corp.

†

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

300,400‌

30,000‌

Renesas

Electronics

Corp.

†

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

542,340‌

60,000‌

Stoneridge

Inc.

†

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

1,174,200‌

54,130,360‌

Energy

and

Utilities

—

2

.4

%

7,200‌

Avangrid

Inc.

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

233,352‌

25,000‌

Callon

Petroleum

Co.

†

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

810,000‌

9,800‌

Chesapeake

Utilities

Corp.

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

1,035,174‌

35,000‌

CMS

Energy

Corp.

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

2,032,450‌

20,000‌

Consolidated

Water

Co.

Ltd.

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

712,000‌

36,800‌

Diamondback

Energy

Inc.

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

5,706,944‌

121,000‌

Dril-Quip

Inc.

†

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

2,815,670‌

74,000‌

Energy

Recovery

Inc.

†

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

1,394,160‌

29,000‌

Landis+Gyr

Group

AG

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

2,620,534‌

22,000‌

Marathon

Petroleum

Corp.

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

3,263,920‌

3,500‌

Middlesex

Water

Co.

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

229,670‌

13,000‌

Northwest

Natural

Holding

Co.

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

506,220‌

21,500‌

Northwestern

Energy

Group

Inc.

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

1,094,135‌

10,000‌

Otter

Tail

Corp.

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

849,700‌

1,680,000‌

RPC

Inc.

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

12,230,400‌

3

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

December

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Energy

and

Utilities

(Continued)

8,000‌

SJW

Group

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

$

522,800‌

32,000‌

Southwest

Gas

Holdings

Inc.

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

2,027,200‌

6,800‌

Spire

Inc.

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

423,912‌

31,000‌

The

York

Water

Co.

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

1,197,220‌

55,000‌

Vestas

Wind

Systems

A/S

†

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

1,745,450‌

41,450,911‌

Entertainment

—

2

.1

%

165,000‌

Atlanta

Braves

Holdings

Inc.

,

Cl. A

†

..........

7,058,700‌

210,000‌

Atlanta

Braves

Holdings

Inc.

,

Cl. C

†

..........

8,311,800‌

85,000‌

Inspired

Entertainment

Inc.

†

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

839,800‌

16,856‌

Liberty

Media

Corp.-Liberty

Live

,

Cl. A

†

....

616,087‌

9,768‌

Liberty

Media

Corp.-Liberty

Live

,

Cl. C

†

....

365,225‌

35,000‌

Madison

Square

Garden

Sports

Corp.

†

.....

6,364,050‌

66,000‌

Manchester

United

plc

,

Cl. A

†

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

1,345,080‌

273,000‌

Sinclair

Inc.

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

3,557,190‌

7,800‌

Take-Two

Interactive

Software

Inc.

†

..........

1,255,410‌

3,500‌

The

Walt

Disney

Co.

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

316,015‌

47,700‌

TKO

Group

Holdings

Inc.

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

3,891,366‌

35,000‌

Universal

Entertainment

Corp.

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

570,922‌

104,000‌

Warner

Bros

Discovery

Inc.

†

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

1,183,520‌

35,675,165‌

Environmental

Services

—

0

.6

%

59,000‌

Republic

Services

Inc.

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

9,729,690‌

Equipment

and

Supplies

—

18

.7

%

17,200‌

A.O.

Smith

Corp.

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

1,417,968‌

387,600‌

AMETEK

Inc.

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

63,911,364‌

56,000‌

AZZ

Inc.

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

3,253,040‌

9,200‌

Chart

Industries

Inc.

†

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

1,254,236‌

312,700‌

Core

Molding

Technologies

Inc.

†

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

5,794,331‌

92,000‌

Crown

Holdings

Inc.

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

8,472,280‌

2,025‌

Danaher

Corp.

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

468,464‌

100,000‌

Donaldson

Co.

Inc.

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

6,535,000‌

38,700‌

Entegris

Inc.

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

4,637,034‌

188,000‌

Federal

Signal

Corp.

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

14,427,120‌

241,000‌

Flowserve

Corp.

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

9,934,020‌

152,500‌

Franklin

Electric

Co.

Inc.

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

14,739,125‌

419,800‌

Graco

Inc.

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

36,421,848‌

33,000‌

IDEX

Corp.

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

7,164,630‌

125,000‌

Interpump

Group

SpA

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

6,467,767‌

6,800‌

Littelfuse

Inc.

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

1,819,408‌

110,000‌

Maezawa

Kyuso

Industries

Co.

Ltd.

...........

1,033,688‌

65,000‌

Minerals

Technologies

Inc.

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

4,635,150‌

6,000‌

MSA

Safety

Inc.

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

1,012,980‌

980,000‌

Mueller

Industries

Inc.

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

46,207,000‌

335,000‌

Mueller

Water

Products

Inc.

,

Cl. A

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

4,824,000‌

3,500‌

Teleflex

Inc.

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

872,690‌

167,000‌

Tennant

Co.

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

15,479,230‌

740,000‌

The

Gorman-Rupp

Co.

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

26,292,200‌

97,000‌

The

Greenbrier

Companies

Inc.

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

4,285,460‌

Shares

Market

Value

136,573‌

The

L.S.

Starrett

Co.

,

Cl. A

†

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

$

1,652,533‌

50,500‌

The

Manitowoc

Co.

Inc.

†

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

842,845‌

50,000‌

The

Middleby

Corp.

†

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

7,358,500‌

36,000‌

The

Timken

Co.

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

2,885,400‌

30,000‌

The

Toro

Co.

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

2,879,700‌

6,000‌

Valmont

Industries

Inc.

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

1,401,060‌

7,875‌

Watsco

Inc.

,

Cl. B

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

3,391,132‌

43,500‌

Watts

Water

Technologies

Inc.

,

Cl. A

.........

9,062,790‌

320,833,993‌

Financial

Services

—

5

.5

%

7,000‌

Ameris

Bancorp

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

371,350‌

12,000‌

Capitol

Federal

Financial

Inc.

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

77,400‌

20,700‌

Crazy

Woman

Creek

Bancorp

Inc.

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

475,065‌

40,000‌

Eagle

Bancorp

Inc.

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

1,205,600‌

325,000‌

Energy

Transfer

LP

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

4,485,000‌

220‌

Farmers

&

Merchants

Bank

of

Long

Beach

1,127,720‌

350,000‌

Flushing

Financial

Corp.

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

5,768,000‌

66,000‌

FNB

Corp.

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

908,820‌

100,000‌

GAM

Holding

AG

†

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

46,549‌

25,000‌

Hanover

Bancorp

Inc.

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

441,000‌

270,000‌

Hope

Bancorp

Inc.

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

3,261,600‌

410,000‌

Huntington

Bancshares

Inc.

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

5,215,200‌

673,000‌

KKR

&

Co.

Inc.

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

55,758,050‌

80,000‌

Medallion

Financial

Corp.

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

788,000‌

8,000‌

PROG

Holdings

Inc.

†

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

247,280‌

54,000‌

Sandy

Spring

Bancorp

Inc.

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

1,470,960‌

47,000‌

Synovus

Financial

Corp.

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

1,769,550‌

16,000‌

TFS

Financial

Corp.

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

235,040‌

15,000‌

Thomasville

Bancshares

Inc.

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

930,000‌

230,000‌

Valley

National

Bancorp

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

2,497,800‌

34,308‌

Value

Line

Inc.

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

1,672,515‌

10,000‌

Waterloo

Investment

Holdings

Ltd.

†

(b)

.....

5,000‌

113,000‌

Webster

Financial

Corp.

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

5,735,880‌

133,000‌

Wright

Investors'

Service

Holdings

Inc.

†

...

19,950‌

94,513,329‌

Food

and

Beverage

—

5

.2

%

424,500‌

Arca

Continental

SAB

de

CV

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

4,641,727‌

14,000‌

BellRing

Brands

Inc.

†

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

776,020‌

75,000‌

Brown-Forman

Corp.

,

Cl. A

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

4,469,250‌

40,000‌

Bull-Dog

Sauce

Co.

Ltd.

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

609,929‌

90,000‌

China

Tontine

Wines

Group

Ltd.

†

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

9,336‌

269,200‌

Crimson

Wine

Group

Ltd.

†

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

1,587,203‌

220,000‌

Denny's

Corp.

†

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

2,393,600‌

500,000‌

Dynasty

Fine

Wines

Group

Ltd.

†

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

26,894‌

98,000‌

Farmer

Brothers

Co.

†

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

299,880‌

400,000‌

Flowers

Foods

Inc.

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

9,004,000‌

114,000‌

ITO

EN

Ltd.

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

3,462,043‌

46,000‌

Iwatsuka

Confectionery

Co.

Ltd.

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

1,650,780‌

23,000‌

J

&

J

Snack

Foods

Corp.

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

3,844,220‌

100,000‌

Kameda

Seika

Co.

Ltd.

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

2,911,347‌

240,000‌

Kikkoman

Corp.

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

14,696,170‌

4

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

December

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Food

and

Beverage

(Continued)

635,000‌

Maple

Leaf

Foods

Inc.

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

$

12,095,694‌

12,000‌

MEIJI

Holdings

Co.

Ltd.

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

285,021‌

8,000‌

MGP

Ingredients

Inc.

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

788,160‌

124,000‌

Morinaga

Milk

Industry

Co.

Ltd.

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

2,399,092‌

7,500‌

National

Beverage

Corp.

†

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

372,900‌

130,500‌

Nissin

Foods

Holdings

Co.

Ltd.

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

4,554,543‌

13,000‌

Post

Holdings

Inc.

†

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

1,144,780‌

60,000‌

Rock

Field

Co.

Ltd.

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

686,383‌

3,000‌

The

Boston

Beer

Co.

Inc.

,

Cl. A

†

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

1,036,770‌

70,000‌

The

Hain

Celestial

Group

Inc.

†

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

766,500‌

56,700‌

The

J.M.

Smucker

Co.

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

7,165,746‌

625,000‌

Tingyi

(Cayman

Islands)

Holding

Corp.

.....

761,990‌

32,500‌

Tootsie

Roll

Industries

Inc.

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

1,080,300‌

370,000‌

Vina

Concha

y

Toro

SA

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

435,763‌

950,000‌

Vitasoy

International

Holdings

Ltd.

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

946,533‌

20,000‌

Willamette

Valley

Vineyards

Inc.

†

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

106,000‌

200,000‌

Yakult

Honsha

Co.

Ltd.

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

4,492,199‌

89,500,773‌

Health

Care

—

3

.3

%

1,400‌

Align

Technology

Inc.

†

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

383,600‌

6,700‌

Bio-Rad

Laboratories

Inc.

,

Cl. A

†

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

2,163,363‌

13,300‌

Bruker

Corp.

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

977,284‌

600‌

Chemed

Corp.

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

350,850‌

21,000‌

CONMED

Corp.

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

2,299,710‌

372,000‌

Cutera

Inc.

†

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

1,311,300‌

50,000‌

Dexcom

Inc.

†

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

6,204,500‌

15,000‌

Evolent

Health

Inc.

,

Cl. A

†

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

495,450‌

216,000‌

Globus

Medical

Inc.

,

Cl. A

†

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

11,510,640‌

70,000‌

Henry

Schein

Inc.

†

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

5,299,700‌

28,000‌

ICU

Medical

Inc.

†

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

2,792,720‌

33,000‌

Masimo

Corp.

†

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

3,867,930‌

45,000‌

Neogen

Corp.

†

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

904,950‌

4,000‌

NeoGenomics

Inc.

†

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

64,720‌

20,000‌

Neuronetics

Inc.

†

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

58,000‌

181,000‌

OPKO

Health

Inc.

†

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

273,310‌

130,000‌

Orthofix

Medical

Inc.

†

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

1,752,400‌

4,000‌

Patterson

Cos.

Inc.

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

113,800‌

70,500‌

QuidelOrtho

Corp.

†

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

5,195,850‌

24,000‌

Seikagaku

Corp.

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

129,532‌

22,800‌

STERIS

plc

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

5,012,580‌

19,000‌

Straumann

Holding

AG

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

3,063,314‌

3,000‌

Stryker

Corp.

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

898,380‌

30,000‌

SurModics

Inc.

†

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

1,090,500‌

16,700‌

Teladoc

Health

Inc.

†

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

359,885‌

100‌

The

Cooper

Companies

Inc.

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

37,844‌

38,000‌

United-Guardian

Inc.

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

273,600‌

56,885,712‌

Home

Furnishings

—

0

.3

%

161,500‌

Bassett

Furniture

Industries

Inc.

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

2,680,900‌

Shares

Market

Value

5,000‌

Ethan

Allen

Interiors

Inc.

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

$

159,600‌

65,000‌

La-Z-Boy

Inc.

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

2,399,800‌

5,240,300‌

Hotels

and

Gaming

—

4

.2

%

50,000‌

Boyd

Gaming

Corp.

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

3,130,500‌

190,000‌

Canterbury

Park

Holding

Corp.

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

3,883,600‌

139,000‌

Churchill

Downs

Inc.

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

18,755,270‌

120,000‌

Formosa

International

Hotels

Corp.

†

.........

866,066‌

530,000‌

Full

House

Resorts

Inc.

†

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

2,846,100‌

48,000‌

Gaming

and

Leisure

Properties

Inc.

,

REIT

.

2,368,800‌

750,000‌

Genting

Singapore

Ltd.

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

568,290‌

120,000‌

Golden

Entertainment

Inc.

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

4,791,600‌

2,250,000‌

Mandarin

Oriental

International

Ltd.

..........

3,510,000‌

3,000‌

Penn

Entertainment

Inc.

†

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

78,060‌

237,000‌

Ryman

Hospitality

Properties

Inc.

,

REIT

....

26,084,220‌

2,500,000‌

The

Hongkong

&

Shanghai

Hotels

Ltd.

†

....

1,869,757‌

139,000‌

The

Marcus

Corp.

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

2,026,620‌

13,000‌

Wynn

Resorts

Ltd.

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

1,184,430‌

71,963,313‌

Machinery

—

2

.3

%

326,000‌

Astec

Industries

Inc.

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

12,127,200‌

1,415,000‌

CNH

Industrial

NV

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

17,234,700‌

100,000‌

Kennametal

Inc.

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

2,579,000‌

4,700‌

Nordson

Corp.

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

1,241,552‌

160,000‌

The

Eastern

Co.

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

3,520,000‌

142,000‌

Twin

Disc

Inc.

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

2,294,720‌

38,997,172‌

Manufactured

Housing

and

Recreational

Vehicles

—

2

.0

%

61,800‌

Cavco

Industries

Inc.

†

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

21,421,116‌

72,500‌

Nobility

Homes

Inc.

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

2,500,887‌

81,200‌

Skyline

Champion

Corp.

†

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

6,029,912‌

51,500‌

Winnebago

Industries

Inc.

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

3,753,320‌

33,705,235‌

Metals

and

Mining

—

0

.1

%

45,000‌

Ivanhoe

Mines

Ltd.

,

Cl. A

†

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

436,399‌

95,000‌

Kinross

Gold

Corp.

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

574,750‌

50,000‌

Sierra

Metals

Inc.

†

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

27,680‌

1,038,829‌

Publishing

—

0

.5

%

2,550‌

Graham

Holdings

Co.

,

Cl. B

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

1,776,126‌

4,500‌

John

Wiley

&

Sons

Inc.

,

Cl. B

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

144,720‌

34,000‌

News

Corp.

,

Cl. A

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

834,700‌

775,000‌

The

E.W.

Scripps

Co.

,

Cl. A

†

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

6,192,250‌

8,947,796‌

Real

Estate

—

2

.0

%

80,000‌

Capital

Properties

Inc.

,

Cl. A

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

958,000‌

10,000‌

Gyrodyne

LLC

†

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

94,750‌

18,000‌

Lamar

Advertising

Co.

,

Cl. A,

REIT

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

1,913,040‌

89,500‌

Morguard

Corp.

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

7,158,379‌

5

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

December

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Real

Estate

(Continued)

25,000‌

Reading

International

Inc.

,

Cl. A

†

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

$

47,750‌

4,000‌

Reading

International

Inc.

,

Cl. B

†

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

56,320‌

35,000‌

Seritage

Growth

Properties

,

Cl. A

†

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

327,250‌

130,200‌

Tejon

Ranch

Co.

†

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

2,239,440‌

362,500‌

The

St.

Joe

Co.

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

21,815,250‌

135,000‌

Trinity

Place

Holdings

Inc.

†

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

14,985‌

34,625,164‌

Retail

—

6

.4

%

111,000‌

AutoNation

Inc.

†

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

16,669,980‌

100,000‌

Big

5

Sporting

Goods

Corp.

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

634,000‌

900‌

Biglari

Holdings

Inc.

,

Cl. A

†

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

714,537‌

301,000‌

Copart

Inc.

†

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

14,749,000‌

20,000‌

Hertz

Global

Holdings

Inc.

†

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

207,800‌

200,000‌

Ingles

Markets

Inc.

,

Cl. A

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

17,274,000‌

52,000‌

Lands'

End

Inc.

†

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

497,120‌

70,000‌

Movado

Group

Inc.

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

2,110,500‌

157,000‌

Nathan's

Famous

Inc.

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

12,247,570‌

69,000‌

Penske

Automotive

Group

Inc.

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

11,075,190‌

85,000‌

Pets

at

Home

Group

plc

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

344,755‌

482,000‌

Rush

Enterprises

Inc.

,

Cl. B

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

25,536,360‌

12,500‌

Salvatore

Ferragamo

SpA

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

168,490‌

10,000‌

The

Cheesecake

Factory

Inc.

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

350,100‌

26,000‌

Tractor

Supply

Co.

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

5,590,780‌

60,000‌

Village

Super

Market

Inc.

,

Cl. A

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

1,573,800‌

6,700‌

Vroom

Inc.

†

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

4,037‌

500‌

Winmark

Corp.

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

208,775‌

109,956,794‌

Specialty

Chemicals

—

2

.1

%

3,200‌

Albemarle

Corp.

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

462,336‌

28,000‌

Ashland

Inc.

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

2,360,680‌

242,000‌

H.B.

Fuller

Co.

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

19,701,220‌

37,500‌

Hawkins

Inc.

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

2,640,750‌

25,000‌

Huntsman

Corp.

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

628,250‌

5,600‌

NewMarket

Corp.

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

3,056,648‌

8,400‌

Quaker

Chemical

Corp.

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

1,792,728‌

1,500‌

Rogers

Corp.

†

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

198,105‌

24,400‌

Sensient

Technologies

Corp.

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

1,610,400‌

2,500‌

Takasago

International

Corp.

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

61,879‌

91,200‌

The

General

Chemical

Group

Inc.

†

(b)

........

0‌

80,000‌

Valvoline

Inc.

†

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

3,006,400‌

35,519,396‌

Telecommunications

—

0

.8

%

15,000‌

Consolidated

Communications

Holdings

Inc.

†

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

65,250‌

61,000‌

Gogo

Inc.

†

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

617,930‌

3,500‌

IDT

Corp.

,

Cl. B

†

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

119,315‌

146,000‌

Liberty

Global

Ltd.

,

Cl. A

†

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

2,594,420‌

136,000‌

Liberty

Global

Ltd.

,

Cl. C

†

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

2,535,040‌

85,100‌

Nuvera

Communications

Inc.

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

855,255‌

Shares

Market

Value

82,000‌

Rogers

Communications

Inc.

,

Cl. B

...........

$

3,838,420‌

108,000‌

Shenandoah

Telecommunications

Co.

.......

2,334,960‌

28,000‌

Telephone

and

Data

Systems

Inc.

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

513,800‌

35,000‌

VEON

Ltd.

,

ADR

†

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

689,500‌

14,163,890‌

Transportation

—

2

.6

%

346,000‌

GATX

Corp.

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

41,596,120‌

18,600‌

Irish

Continental

Group

plc

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

88,910‌

124,000‌

Navigator

Holdings

Ltd.

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

1,804,200‌

50,057‌

Steel

Connect

Inc.

†

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

476,543‌

43,965,773‌

Wireless

Communications

—

0

.1

%

49,500‌

United

States

Cellular

Corp.

†

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

2,056,230‌

TOTAL

COMMON

STOCKS

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

1,691,040,780‌

CLOSED-END

FUNDS

—

0

.1

%

42,500‌

The

Central

Europe,

Russia,

and

Turkey

Fund

Inc.

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

414,375‌

32,229‌

The

European

Equity

Fund

Inc.

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

279,103‌

111,000‌

The

New

Germany

Fund

Inc.

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

970,140‌

TOTAL

CLOSED-END

FUNDS

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

1,663,618‌

PREFERRED

STOCKS

—

0

.2

%

Automotive:

Parts

and

Accessories

—

0

.2

%

82,500‌

Jungheinrich

AG

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

3,025,540‌

RIGHTS

—

0.0

%

Communications

Equipment

—

0.0

%

60,500‌

Pineapple

Energy

Inc.

,

CVR

†

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

63,840‌

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

†

16,800‌

TOTAL

WARRANTS

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

17,452‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

—

0

.5

%

$

8,830,000‌

U.S.

Treasury

Bills,

5.244

%

to

5.335

%

††

,

01/16/24

to

03/28/24

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

8,742,441‌

TOTAL

MISCELLANEOUS

INVESTMENTS

—

0

.4

%

(c)

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

7,796,945‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$

450,422,232

)

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

$

1,712,350,616‌

6

The

Gabelli

Small

Cap

Growth

Fund

Schedule

of

Investments

(Continued)

—

December

31,

2023

(Unaudited)

(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

undisclosed,

unrestricted

securities

which

the

Fund

has

held

for

less

than

one

year.

†

Non-income

producing

security.

††

Represents

annualized

yields

at

dates

of

purchase.

ADR

American

Depositary

Receipt

CVR

Contingent

Value

Right

REIT

Real

Estate

Investment

Trust