0001145549-23-016318.txt : 20230314 0001145549-23-016318.hdr.sgml : 20230314 20230314162857 ACCESSION NUMBER: 0001145549-23-016318 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20221231 FILED AS OF DATE: 20230314 DATE AS OF CHANGE: 20230314 EFFECTIVENESS DATE: 20230314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GABELLI ASSET FUND CENTRAL INDEX KEY: 0000783898 IRS NUMBER: 133331485 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-04494 FILM NUMBER: 23731431 BUSINESS ADDRESS: STREET 1: ONE CORPORATE CENTER CITY: RYE STATE: NY ZIP: 10580 BUSINESS PHONE: 8004223554 MAIL ADDRESS: STREET 1: ONE CORPORATE CENTER STREET 2: 100 PARK AVENUE CITY: RYE STATE: NY ZIP: 10580 0000783898 S000001087 THE GABELLI ASSET FUND C000002940 CLASS A GATAX C000002942 CLASS C GATCX C000002943 CLASS AAA GABAX C000034307 CLASS I GABIX N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000783898 XXXXXXXX false false false N-1A S000001087 C000034307 C000002940 C000002943 C000002942 Gabelli Asset Fund 811-04494 0000783898 549300RZ8MB3MNXBKC63 One Corporate Center Rye 10580-1422 US-NY US 1-800-422-3554 The Bank of New York Mellon 240 Greenwich Street New York 10286 1-212-495-1784 Accounting BNY Mellon Investment Servicing (US) Inc. 301 Bellevue Parkway Wilmington 19809 1-302-791-1700 Accounting DST Asset Manager Solutions, Inc. 30 Dan Road Canton 02021-2809 888-772-2337 Transfer Agent State Street Bank and Trust Company One Heritage Drive North Quincy 02171 617-786-3000 Custody Gabelli Funds, LLC One Corporate Center Rye 10580-1422 914-921-5100 Accounting N N N-1A 1 Y James P. Conn N/A N Kuni Nakamura N/A N Werner J. Roeder N/A N Salvatore J. Zizza N/A N Mario J. Gabelli 000216136 Y Anthony J. Colavita N/A N Anthonie C. van Ekris N/A N John D. Gabelli 001008994 Y Richard J. Walz 001392836 One Corporate Center Rye 10580 XXXXXX N N N N N N N G.distributors, LLC 008-68697 000155071 N/A Y N PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 N N N N N N N The Gabelli Asset Fund S000001087 549300RZ8MB3MNXBKC63 N 4 0 0 N/A N N Y N N/A N/A N/A Rule 17e-1 (17 CFR 270.17e-1) Rule 18f-4 (17 CFR 270.18f-4) N N N N Gabelli Funds, LLC 801-37706 000104949 549300JDTNRQK8NMTG03 N DST Asset Manager Solutions, Inc. 084-00896 N/A N N N Bloomberg Finance L.P. 5493001KJTIIGC8Y1R12 N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 N N State Street Bank and Trust Company 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N DST Asset Manager Solutions, Inc. 084-00896 SEC FILE NUMBER N N N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N N G.Research, LLC 008-21373 000007353 N/A 9931.000000000000 G.distributors, LLC 008-68697 000155071 N/A 2378.000000000000 BERENBERG BANK N/A N/A 5299000WI2BXRB3KKL92 DE 10216.000000000000 ALLIANCEBERNSTEIN L.P. N/A 000108477 0JK55UGWSWNF3X7KLQ85 15718.000000000000 TD SECURITIES (USA) LLC 008-36747 000018476 SUVUFHICNZMP2WKHG940 27374.000000000000 PIPER SANDLER & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 24857.000000000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 36788.000000000000 EVERCORE GROUP L.L.C. 008-49830 000042405 5493008F0LRLS5N8LZ81 13386.000000000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 14002.000000000000 CANTOR FITZGERALD & CO. 008-00201 000000134 5493004J7H4GCPG6OB62 7829.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 10626.000000000000 J.P. Morgan Securities LLC 008-35008 000000079 ZBUT11V806EZRVTWT807 28099.000000000000 255182.000000000000 Philip Morris International Inc. N/A N/A HL3H1H2BGXWVG3BSWR90 15710178.000000000000 NASSAU LIFE INSURANCE COMPANY N/A N/A 549300P5CZR1OVXCUQ04 638462.000000000000 BERKSHIRE HATHAWAY INC. N/A N/A 5493000C01ZX7D35SD85 3604085.000000000000 ARCHIMED N/A 000290024 969500R9KIP4M401P627 FR 837500.000000000000 BMO Nesbitt Burns Securities Ltd. 008-50538 000044057 54JEJPF5RL5INKZRDO43 CA 49808682.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 15164598.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 9522535.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 160981385.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 5999317.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 54705461.000000000000 317206417.000000000000 Y 1941780441.000000000000 0.000000000000 Uncommitted 75000000.000000000000 N N N true INTERNAL CONTROL RPT 2 internalcontrolrpt_asset.htm PDFtoHTML Conversion Output

Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of The Gabelli Asset Fund

In planning and performing our audit of the financial statements of The Gabelli Asset Fund (the "Fund") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) ("PCAOB"), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund's internal control over financial reporting.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of December 31, 2022.

This report is intended solely for the information and use of the Board of Trustees of The Gabelli Asset Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/PricewaterhouseCoopers LLP
New York, New York
March 1, 2023


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