1

The

Gabelli

Focused

Growth

and

Income

Fund

Schedule

of

Investments

—

June

30,

2024

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

—

83

.5

%

Automotive:

Parts

and

Accessories

—

1

.0

%

6,000‌

Aptiv

plc

†

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

$

422,520‌

Building

and

Construction

—

2

.1

%

7,000‌

Herc

Holdings

Inc.

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

933,030‌

Computer

Software

and

Services

—

2

.1

%

5,000‌

Alphabet

Inc.

,

Cl. C

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

917,100‌

Energy

and

Utilities

—

26

.7

%

157,500‌

Energy

Transfer

LP

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

2,554,650‌

107,500‌

Enterprise

Products

Partners

LP

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

3,115,350‌

100,000‌

Kinder

Morgan

Inc.

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

1,987,000‌

47,500‌

New

Fortress

Energy

Inc.

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

1,044,050‌

74,334‌

NextEra

Energy

Partners

LP

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

2,054,592‌

25,000‌

PNM

Resources

Inc.

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

924,000‌

11,679,642‌

Entertainment

—

0

.2

%

7,500‌

Paramount

Global

,

Cl. B

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

77,925‌

Financial

Services

—

6

.4

%

18,000‌

Apollo

Global

Management

Inc.

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

2,125,260‌

7,000‌

Morgan

Stanley

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

680,330‌

2,805,590‌

Food

and

Beverage

—

5

.3

%

100,000‌

Maple

Leaf

Foods

Inc.

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

1,675,377‌

8,000‌

Mondelēz

International

Inc.

,

Cl. A

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

523,520‌

1,000‌

Post

Holdings

Inc.

†

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

104,160‌

2,303,057‌

Health

Care

—

4

.0

%

5,500‌

AbbVie

Inc.

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

943,360‌

30,000‌

Option

Care

Health

Inc.

†

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

831,000‌

1,774,360‌

Metals

and

Mining

—

2

.1

%

21,750‌

Newmont

Corp.

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

910,673‌

Real

Estate

Investment

Trusts

—

24

.7

%

190,000‌

Blackstone

Mortgage

Trust

Inc.

,

Cl. A

........

3,309,800‌

175,698‌

Franklin

BSP

Realty

Trust

Inc.

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

2,213,795‌

128,133‌

Medical

Properties

Trust

Inc.

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

552,253‌

6,500‌

Simon

Property

Group

Inc.

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

986,700‌

130,000‌

VICI

Properties

Inc.

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

3,723,200‌

10,785,748‌

Specialty

Chemicals

—

0

.7

%

3,250‌

International

Flavors

&

Fragrances

Inc.

.....

309,432‌

Telecommunications

—

8

.2

%

160,000‌

AT&T

Inc.

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

3,057,600‌

4,000‌

GCI

Liberty

Inc.,

Escrow

†

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

0‌

3,000‌

T-Mobile

US

Inc.

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

528,540‌

3,586,140‌

TOTAL

COMMON

STOCKS

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

36,505,217‌

Shares

Market

Value

PREFERRED

STOCKS

—

11

.6

%

Diversified

Industrial

—

2

.3

%

20,440‌

Babcock

&

Wilcox

Enterprises

Inc.

,

8.125

%

,

02/28/26

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

$

403,690‌

25,018‌

Steel

Partners

Holdings

LP

,

Ser.

A

,

6.000

%

,

02/07/26

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

598,180‌

1,001,870‌

Financial

Services

—

2

.8

%

36,528‌

FTAI

Aviation

Ltd.

,

Ser.

A

,

8.250

%

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

914,296‌

25,874‌

Greenidge

Generation

Holdings

Inc.

,

8.500

%

,

10/31/26

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

291,859‌

1,206,155‌

Retail

—

6

.5

%

68,051‌

Qurate

Retail

Inc.

,

8.000

%

,

03/15/31

........

2,861,545‌

TOTAL

PREFERRED

STOCKS

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

5,069,570‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

—

4

.9

%

$

2,140,000‌

U.S.

Treasury

Bills,

5.283

%

to

5.319

%

††

,

07/05/24

to

09/26/24

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

2,128,081‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$

32,457,511

)

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

$

43,702,868‌

†

Non-income

producing

security.

††

Represents

annualized

yields

at

dates

of

purchase.