0001145549-24-016091.txt : 20240314 0001145549-24-016091.hdr.sgml : 20240314 20240314132505 ACCESSION NUMBER: 0001145549-24-016091 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240314 DATE AS OF CHANGE: 20240314 EFFECTIVENESS DATE: 20240314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GABELLI ASSET FUND CENTRAL INDEX KEY: 0000783898 ORGANIZATION NAME: 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: 24748925 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 212-495-1784 Accounting 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 SS&C GIDS, Inc. 333 West 11th Street Kansas City 64105 816-435-1000 Transfer Agent BNY Mellon Investment Servicing (US) Inc. 500 Ross Street Pittsburgh 15262 412-234-5000 Accounting N N N-1A 1 Y James P. Conn 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 17a-7 (17 CFR 270.17a-7) 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 SS&C GIDS, Inc. 084-00448 N/A N N 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 SS&C GIDS, Inc. N/A N N N Gabelli Funds, LLC 549300JDTNRQK8NMTG03 Y N BNY Mellon Investment Servicing (US) Inc. 549300CFZQLI9QMJ1Z03 N Y N G.Research, LLC 008-21373 000007353 N/A 0.000000000000 ALLIANCEBERNSTEIN L.P. N/A 000108477 0JK55UGWSWNF3X7KLQ85 11900.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 8902.000000000000 Raymond James & Associates, Inc. 008-10999 000000705 U4ONQX15J3RO8XCKE979 6540.000000000000 EVERCORE GROUP L.L.C. 008-49830 000042405 5493008F0LRLS5N8LZ81 3969.000000000000 JEFFERIES LLC 008-15074 000002347 58PU97L1C0WSRCWADL48 4062.000000000000 CANTOR FITZGERALD & CO. 008-00201 000000134 5493004J7H4GCPG6OB62 4279.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 5073.000000000000 MORGAN STANLEY & CO. LLC 008-15869 000008209 9R7GPTSO7KV3UQJZQ078 13925.000000000000 PIPER SANDLER & CO. 008-15204 000000665 549300GRQCWQ3XGH0H10 40015.000000000000 TD SECURITIES (USA) LLC 008-36747 000018476 SUVUFHICNZMP2WKHG940 50408.000000000000 207743.000000000000 MICROSOFT CORPORATION N/A N/A INR2EJN1ERAN0W5ZP974 294500.000000000000 State Street Bank and Trust Company N/A N/A 571474TGEMMWANRLN572 18650.000000000000 TD SECURITIES (USA) LLC 008-36747 000018476 SUVUFHICNZMP2WKHG940 62253.000000000000 Post Holdings Partnering Corporation N/A N/A N/A 512237.000000000000 Daiwa Capital Markets America, Inc. 008-12242 000001576 M67H5PRC0NQKM73ZAS82 4403666.000000000000 RBC CAPITAL MARKETS LLC 008-45411 000031194 549300LCO2FLSSVFFR64 3460120.000000000000 GOLDMAN SACHS & CO. LLC 008-00129 000000361 FOR8UP27PHTHYVLBNG30 24900197.000000000000 BARCLAYS CAPITAL, INC. 008-41342 000019714 AC28XWWI3WIBK2824319 30277646.000000000000 BMO Nesbitt Burns Securities Ltd. 008-50538 000044057 54JEJPF5RL5INKZRDO43 CA 109463798.000000000000 NOMURA SECURITIES INTERNATIONAL, INC. 008-15255 000004297 OXTKY6Q8X53C9ILVV871 31304251.000000000000 204713317.000000000000 Y 1748432005.000000000000 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, 2023, 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, 2023.

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

February 29, 2024

PricewaterhouseCoopers LLP, PricewaterhouseCoopers Center, 300 Madison Avenue, New York, NY 10017 T: (646) 471 3000, F: (813) 286 6000, www. pwc.com/us