1

The

Gabelli

International

Small

Cap

Fund

Schedule

of

Investments

—

March

31,

2022

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

 —

96.2%

CONSUMER

STAPLES

 —

18.7%

15,000‌

Austevoll

Seafood

ASA

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

$

231,960‌

4,500‌

Fevertree

Drinks

plc

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

105,070‌

11,000‌

Glanbia

plc

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

127,611‌

30,000‌

Hotel

Chocolat

Group

plc†

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

177,343‌

3,478‌

Interparfums

SA

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

209,226‌

4,000‌

Kobe

Bussan

Co.

Ltd.

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

123,099‌

1,750‌

Laurent-Perrier

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

185,463‌

2,500‌

Milbon

Co.

Ltd.

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

112,012‌

6,000‌

Nomad

Foods

Ltd.†

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

135,480‌

32,000‌

PZ

Cussons

plc

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

81,930‌

4,000‌

Sakata

Seed

Corp.

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

121,256‌

2,000‌

Viscofan

SA

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

118,614‌

1,729,064‌

HEALTH

CARE

 —

17.6%

12,212‌

AddLife

AB,

Cl. B

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

338,453‌

500‌

Bachem

Holding

AG,

Cl. B

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

275,172‌

1,800‌

Gerresheimer

AG

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

131,485‌

4,000‌

Idorsia

Ltd.†

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

79,906‌

2,300‌

MedPeer

Inc.†

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

74,150‌

230‌

Siegfried

Holding

AG

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

189,581‌

5,000‌

Takara

Bio

Inc.

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

91,468‌

230‌

Tecan

Group

AG

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

90,928‌

15,000‌

Tristel

plc

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

63,055‌

1,300‌

Vetoquinol

SA

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

190,725‌

600‌

Ypsomed

Holding

AG

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

105,380‌

1,630,303‌

CONSUMER

DISCRETIONARY

 —

14.9%

27,000‌

888

Holdings

plc

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

65,439‌

10,000‌

Beneteau

SA†

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

156,566‌

35,000‌

boohoo

Group

plc†

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

40,547‌

9,820‌

Entain

plc†

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

210,354‌

2,200‌

JINS

Holdings

Inc.

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

103,718‌

40,000‌

LeoVegas

AB

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

160,504‌

75,000‌

Mandarin

Oriental

International

Ltd.†

........

150,000‌

6,000‌

Raccoon

Holdings

Inc.

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

61,591‌

2,000‌

Tod's

SpA†

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

89,543‌

15,000‌

Treatt

plc

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

222,609‌

10,000‌

Zojirushi

Corp.

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

118,428‌

1,379,299‌

MATERIALS

 —

12.1%

6,000‌

Alamos

Gold

Inc.,

Cl. A

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

50,520‌

13,850‌

Alamos

Gold

Inc.,

Toronto,

Cl. A

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

116,326‌

10,000‌

Eldorado

Gold

Corp.†

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

112,100‌

10,544‌

Endeavour

Mining

plc

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

261,544‌

5,000‌

Labrador

Iron

Ore

Royalty

Corp.

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

168,020‌

4,000‌

MAG

Silver

Corp.†

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

64,760‌

9,000‌

Osisko

Gold

Royalties

Ltd.

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

118,714‌

75,000‌

Perseus

Mining

Ltd.

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

110,171‌

Shares

Market

Value

80,000‌

Westgold

Resources

Ltd.

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

$

115,914‌

1,118,069‌

INFORMATION

TECHNOLOGY

 —

11.9%

15,000‌

Alphawave

IP

Group

plc†

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

34,868‌

9,000‌

Genius

Sports

Ltd.†

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

41,400‌

7,500‌

GMO

internet

Inc.

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

170,291‌

20,000‌

NCC

Group

plc

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

47,974‌

30,000‌

Network

International

Holdings

plc†

..........

110,346‌

3,000‌

Nynomic

AG†

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

129,152‌

6,000‌

Optex

Group

Co.

Ltd.

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

84,402‌

100,000‌

Oxford

Metrics

plc

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

126,767‌

6,000‌

PSI

Software

AG

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

257,535‌

20,000‌

WithSecure

OYJ†

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

101,001‌

1,103,736‌

INDUSTRIALS

 —

9.4%

15,000‌

Aida

Engineering

Ltd.

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

128,982‌

50,000‌

Chemring

Group

plc

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

212,545‌

2,000‌

Clarkson

plc

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

96,643‌

4,000‌

Iveco

Group

NV†

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

26,132‌

6,000‌

JGC

Holdings

Corp.

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

71,715‌

4,000‌

Loomis

AB

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

109,107‌

8,000‌

Maruwa

Unyu

Kikan

Co.

Ltd.

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

73,171‌

20,000‌

QleanAir

AB

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

83,827‌

23,000‌

Teraoka

Seisakusho

Co.

Ltd.

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

66,918‌

869,040‌

FINANCIALS

 —

7.9%

35,000‌

Brewin

Dolphin

Holdings

plc

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

234,837‌

17,000‌

Polar

Capital

Holdings

plc

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

138,565‌

4,000‌

Rothschild

&

Co.

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

158,167‌

20,000‌

Tamburi

Investment

Partners

SpA

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

197,728‌

729,297‌

COMMUNICATION

SERVICES

 —

3.7%

9,000‌

Manchester

United

plc,

Cl. A

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

130,230‌

3,190‌

Nordic

Entertainment

Group

AB,

Cl. B†

.....

128,809‌

2,000‌

Xilam

Animation

SA†

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

80,313‌

339,352‌

TOTAL

COMMON

STOCKS

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

8,898,160‌

PREFERRED

STOCKS

 —

1.1%

HEALTH

CARE

 —

1.1%

1,800‌

Draegerwerk

AG

&

Co.

KGaA,

0.190%

.......

99,603‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

 —

2.7%

$

250,000‌

U.S.

Treasury

Bill,

0.325%††,

06/02/22

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

249,860‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$8,330,567)

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

$

9,247,623‌

2

The

Gabelli

International

Small

Cap

Fund

Schedule

of

Investments

(Continued)

—

March

31,

2022

(Unaudited)

†

Non-income

producing

security.

††

Represents

annualized

yield

at

date

of

purchase.

Geographic

Diversification

%

of

Market

Value

Market

Value

Europe

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

71.3‌

%

$

6,590,039‌

Japan

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

15.1‌

1,401,199‌

Canada

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

6.8‌

630,440‌

Asia/Pacific

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

4.1‌

376,085‌

United

States

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

2.7‌

249,860‌

100.0‌%

$

9,247,623‌