The Gabelli Global Content & Connectivity Fund

Schedule of Investments — March 31, 2021 (Unaudited)

Shares		Market Value
	COMMON STOCKS — 97.6%
	COMMUNICATION SERVICES — 70.4%
	Telecommunication Services — 37.5%
	Wireless Telecommunication Services — 25.2%
	Wireless Telecommunication Services — 25.2%
60,000	America Movil SAB de CV, Cl. L, ADR	$	814,800
30,000	Anterix Inc.†		1,414,800
35,000	KDDI Corp.		1,073,154
34,000	Millicom International Cellular SA, SDR†		1,308,074
100,000	MTN Group†		588,415
20,000	Rogers Communications Inc., Cl. B		922,000
155,000	Sistema PJSC FC, GDR		1,401,200
60,000	SoftBank Group Corp.		5,055,769
47,000	T-Mobile US Inc.†		5,888,630
60,000	Turkcell Iletisim Hizmetleri A/S, ADR		280,200
31,000	United States Cellular Corp.†		1,130,880
65,000	Vodafone Group plc, ADR		1,197,950
			21,075,872
	Diversified Telecommunication Services — 12.3%
	Integrated Telecommunication Services — 10.7%
17,000	AT&T Inc.		514,590
37,415,054	Cable & Wireless Jamaica Ltd.†(a)		297,896
3,000,000	China Tower Corp. Ltd., Cl. H		443,781
80,000	Deutsche Telekom AG		1,610,821
43,000	Telenor ASA		756,622
75,000	Telephone and Data Systems Inc.		1,722,000
50,000	TELUS Corp.		996,500
46,000	Verizon Communications Inc.		2,674,900
			9,017,110
	Alternative Carriers — 1.6%
100,000	Lumen Technologies Inc.		1,335,000
	Media & Entertainment — 32.9%
	Media — 10.8%
	Cable & Satellite — 10.8%
96,000	Comcast Corp., Cl. A		5,194,560
25,000	DISH Network Corp., Cl. A†		905,000
55,000	Liberty Global plc, Cl. C†		1,404,700
115,000	WideOpenWest Inc.†		1,562,850
			9,067,110
	Interactive Media & Services — 14.9%
	Interactive Media & Services — 14.9%
3,300	Alphabet Inc., Cl. C†		6,826,479
19,000	Facebook Inc., Cl. A†		5,596,070
			12,422,549
	Entertainment — 7.2%
	Movies & Entertainment — 5.7%
110,000	Borussia Dortmund GmbH & Co. KGaA†		699,809

Shares		Market Value
17,000	Liberty Media Corp.- Liberty Braves, Cl. C†	$	472,940
4,000	Madison Square Garden Sports Corp.†		717,840
45,000	Manchester United plc, Cl. A		708,300
120,000	OL Groupe SA†		330,701
10,000	The Walt Disney Co.†		1,845,200
			4,774,790
	Interactive Home Entertainment — 1.5%
4,000	Take-Two Interactive Software Inc.†		706,800
7,000	Ubisoft Entertainment SA†		532,593
			1,239,393
	TOTAL COMMUNICATION SERVICES		58,931,824
	INFORMATION TECHNOLOGY — 8.8%
	Technology Hardware & Equipment — 2.9%
	Technology Hardware, Storage & Peripherals — 1.7%
	Technology Hardware, Storage & Peripherals — 1.7%
12,000	Apple Inc.		1,465,800
	Electronic Equipment, Instruments & Components — 1.2%
	Electronic Equipment & Instruments — 1.2%
9,500	Sony Group Corp., ADR		1,007,095
	Software & Services — 5.9%
	Software — 2.4%
	Systems Software — 2.4%
8,500	Microsoft Corp.		2,004,045
	IT Services — 3.5%
	Internet Services and Infrastructure — 0.7%
20,000	GMO internet Inc.		572,590
	Data Processing & Outsourced Services — 2.8%
3,500	Mastercard Inc., Cl. A		1,246,175
2,500	PayPal Holdings Inc.†		607,100
2,300	Visa Inc., Cl. A		486,979
			2,340,254
	TOTAL INFORMATION TECHNOLOGY		7,389,784
	FINANCIALS — 8.0%
	Diversified Financials — 8.0%
	Diversified Financial Services — 8.0%
	Multi-Sector Holdings — 8.0%
100,000	Kinnevik AB, Cl. B		4,861,767
4,460	Old Mutual Ltd.(a)		4,333
145,000	VNV Global AB†		1,813,029

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The Gabelli Global Content & Connectivity Fund

Schedule of Investments (Continued) — March 31, 2021 (Unaudited)

Shares		Market Value
	COMMON STOCKS (Continued)
	FINANCIALS (Continued)
	Diversified Financials (Continued)
	Diversified Financial Services (Continued)
	Multi-Sector Holdings (Continued)
12,000	Waterloo Investment Holdings Ltd.†(a)	$	3,600
			6,682,729
	TOTAL FINANCIALS		6,682,729
	CONSUMER DISCRETIONARY — 6.5%
	Retailing — 6.3%
	Internet & Direct Marketing Retail — 6.3%
	Internet & Direct Marketing Retail — 6.3%
16,000	Naspers Ltd., Cl. N		3,828,412
13,000	Prosus NV		1,445,235
		5,273,647
	Consumer Services — 0.2%
	Hotels, Restaurants & Leisure — 0.2%
	Casinos & Gaming — 0.2%
375,000	Sportech plc†		138,808
	TOTAL CONSUMER DISCRETIONARY		5,412,455
	REAL ESTATE — 3.9%
	Real Estate — 3.9%
	Equity Real Estate Investment Trusts — 3.9%
	Specialized REITs — 3.9%
5,000	Crown Castle International Corp., REIT		860,650
7,500	Digital Realty Trust Inc., REIT		1,056,300
2,000	Equinix Inc., REIT		1,359,180
		3,276,130
	TOTAL REAL ESTATE		3,276,130
	TOTAL COMMON STOCKS		81,692,922
	CLOSED-END FUNDS — 0.1%
	CONSUMER DISCRETIONARY — 0.1%
	Retailing — 0.1%
	Internet & Direct Marketing Retail — 0.1%
	Internet & Direct Marketing Retail — 0.1%
5,800	Altaba Inc., Escrow†		84,390

Shares		Market Value
	PREFERRED STOCKS — 1.5%
	INFORMATION TECHNOLOGY — 1.5%
	Technology - Hardware and Equipment — 1.5%
	Technology Hardware, Storage & Peripherals — 1.5%
	Technology Hardware, Storage & Peripherals — 1.5%
20,000	Samsung Electronics Co. Ltd., 10.630%	$	1,290,037
	WARRANTS — 0.1%
	FINANCIALS — 0.1%
	Diversified Financials — 0.1%
	Diversified Financial Services — 0.1%
	Multi-Sector Holdings — 0.1%
31,463	VNV Global AB, expire 08/10/23†		69,350
Principal Amount
	CORPORATE BONDS — 0.0%
	COMMUNICATION SERVICES — 0.0%
	Telecommunication Services — 0.0%
	Wireless Telecommunication Services — 0.0%
	Wireless Telecommunication Services — 0.0%
$ 32,808	Econet Wireless Zimbabwe Ltd., 5.000%, 03/17/23(a)		1,532
	U.S. GOVERNMENT OBLIGATIONS — 0.7%
550,000	U.S. Treasury Bills,
	0.003% to 0.005%††,
	04/08/21 to 05/20/21		549,996
	TOTAL INVESTMENTS — 100.0%
	(Cost $48,280,914)	$	83,688,227

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

† Non-income producing security.

†† Represents annualized yields at dates of purchase.

ADR American Depositary Receipt

GDR Global Depositary Receipt

REIT Real Estate Investment Trust

SDR Swedish Depositary Receipt

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The Gabelli Global Content & Connectivity Fund

Schedule of Investments (Continued) — March 31, 2021 (Unaudited)

Geographic Diversification	%of Market Value			Market Value
North America		59.9	%	$	50,149,186
Europe		22.2			18,559,159
Japan		9.2			7,708,608
South Africa		5.3			4,421,160
Asia/Pacific		2.1			1,733,819
Latin America		1.3			1,116,295
		100.0	%	$	83,688,227

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