1
The
Gabelli
International
Small
Cap
Fund
Schedule
of
Investments
—
September
30,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
93.6%
CONSUMER
STAPLES
—
18.9%
15,000
Austevoll
Seafood
ASA
.............................
$
105,108
4,500
Fevertree
Drinks
plc
..................................
65,885
9,000
Glanbia
plc
...............................................
148,306
45,000
Hotel
Chocolat
Group
plc†
........................
70,552
3,300
Interparfums
SA
.......................................
183,097
1,600
Laurent-Perrier
.........................................
202,146
2,500
Milbon
Co.
Ltd.
........................................
69,477
32,000
PZ
Cussons
plc
........................................
55,145
4,000
Sakata
Seed
Corp.
....................................
116,222
2,000
Viscofan
SA
.............................................
122,101
1,138,039
MATERIALS
—
16.4%
4,000
Alamos
Gold
Inc.,
Cl. A
.............................
45,160
13,850
Alamos
Gold
Inc.,
Toronto,
Cl. A
...............
156,217
8,000
Eldorado
Gold
Corp.†
...............................
71,280
9,544
Endeavour
Mining
plc
...............................
187,050
5,000
Labrador
Iron
Ore
Royalty
Corp.
...............
118,351
4,000
MAG
Silver
Corp.†
....................................
41,347
9,000
Osisko
Gold
Royalties
Ltd.
........................
105,688
75,000
Perseus
Mining
Ltd.
.................................
78,311
15,000
Treatt
plc
..................................................
92,789
80,000
Westgold
Resources
Ltd.†
........................
86,099
982,292
HEALTH
CARE
—
15.8%
12,212
AddLife
AB,
Cl. B
......................................
72,070
1,300
Bachem
Holding
AG
.................................
95,887
1,800
Gerresheimer
AG
......................................
188,606
7,000
Mani
Inc.
..................................................
84,879
230
Siegfried
Holding
AG
................................
196,449
5,000
Takara
Bio
Inc.
.........................................
46,219
230
Tecan
Group
AG
.......................................
77,308
15,000
Tristel
plc
.................................................
81,497
1,300
Vetoquinol
SA
..........................................
107,205
950,120
INDUSTRIALS
—
12.8%
15,000
Aida
Engineering
Ltd.
...............................
100,462
8,000
AZ-COM
MARUWA
Holdings
Inc.
..............
113,801
50,000
Chemring
Group
plc
.................................
169,289
2,000
Clarkson
plc
.............................................
66,739
4,000
Iveco
Group
NV†
......................................
37,262
8,000
JGC
Holdings
Corp.
..................................
111,156
4,000
Loomis
AB
...............................................
107,651
20,000
QleanAir
AB†
............................................
63,155
769,515
CONSUMER
DISCRETIONARY
—
12.4%
10,000
Beneteau
SA
.............................................
120,916
9,820
Entain
plc
.................................................
111,377
24,000
Genius
Sports
Ltd.†
..................................
127,920
Shares
Market
Value
2,200
JINS
Holdings
Inc.
...................................
$
46,909
75,000
Mandarin
Oriental
International
Ltd.
..........
127,875
6,000
Raccoon
Holdings
Inc.
..............................
30,267
2,300
Tokyotokeiba
Co.
Ltd.
...............................
61,907
10,000
Zojirushi
Corp.
.........................................
119,189
746,360
INFORMATION
TECHNOLOGY
—
10.4%
4,000
A&D
HOLON
Holdings
Co.
Ltd.
.................
45,483
7,500
GMO
internet
group
Inc.
...........................
115,968
20,000
NCC
Group
plc
.........................................
28,794
3,000
Nynomic
AG†
...........................................
101,339
6,000
Optex
Group
Co.
Ltd.
................................
64,897
100,000
Oxford
Metrics
plc
....................................
110,419
6,000
PSI
Software
SE
.......................................
155,501
622,401
FINANCIALS
—
4.6%
17,000
Polar
Capital
Holdings
plc
.........................
96,449
20,000
Tamburi
Investment
Partners
SpA
.............
177,028
273,477
COMMUNICATION
SERVICES
—
2.3%
5,500
Manchester
United
plc,
Cl. A†
...................
108,845
2,000
Xilam
Animation
SA†
................................
28,757
137,602
TOTAL
COMMON
STOCKS
..................
5,619,806
PREFERRED
STOCKS
—
1.3%
HEALTH
CARE
—
1.3%
1,800
Draegerwerk
AG
&
Co.
KGaA,
0.190%
.......
80,640
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
5.1%
$
310,000
U.S.
Treasury
Bills,
5.386%
to
5.388%††,
12/21/23
to
12/28/23
............................
306,197
TOTAL
INVESTMENTS
—
100.0%
(Cost
$6,632,547)
.................................
$
6,006,643
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
2
The
Gabelli
International
Small
Cap
Fund
Schedule
of
Investments
(Continued)
—
September
30,
2023
(Unaudited)
Geographic
Diversification
%
of
Market
Value
Market
Value
Europe
..............................
62.3
%
$
3,743,283
Japan
...............................
18.7
1,126,836
Canada
..............................
9.0
538,043
United
States
........................
5.1
306,196
Asia/Pacific
.........................
4.9
292,285
100.0%
$
6,006,643