1

The

Gabelli

Global

Content

&

Connectivity

Fund

Schedule

of

Investments

—

September

30,

2024

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

—

98.6%

COMMUNICATION

SERVICES

 —

72.6%

Telecommunication

Services

 —

49.2%

Wireless

Telecommunication

Services

 —

31.5%

Wireless

Telecommunication

Services

 —

31.5%

35,000‌

America

Movil

SAB

de

CV,

ADR

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

$

572,600‌

55,000‌

Anterix

Inc.†

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

2,071,300‌

10,000‌

KDDI

Corp.

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

319,638‌

80,000‌

Millicom

International

Cellular

SA,

SDR†

....

2,172,541‌

80,000‌

MTN

Group

Ltd.

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

425,201‌

50,000‌

Rogers

Communications

Inc.,

Cl. B

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

2,010,500‌

76,000‌

SoftBank

Group

Corp.

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

4,456,093‌

30,000‌

T-Mobile

US

Inc.

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

6,190,800‌

40,000‌

United

States

Cellular

Corp.†

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

2,186,000‌

85,000‌

Vodafone

Group

plc,

ADR

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

851,700‌

21,256,373‌

Diversified

Telecommunication

Services

 —

17.7%

Integrated

Telecommunication

Services

 —

17.1%

52,000‌

AT&T

Inc.

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

1,144,000‌

37,415,054‌

Cable

&

Wireless

Jamaica

Ltd.†(a)

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

276,020‌

100,000‌

Deutsche

Telekom

AG

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

2,937,603‌

65,000‌

Frontier

Communications

Parent

Inc.†

.......

2,309,450‌

54,000‌

Liberty

Global

Ltd.,

Cl. C†

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

1,166,940‌

32,000‌

Telenor

ASA

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

409,364‌

75,000‌

Telephone

and

Data

Systems

Inc.

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

1,743,750‌

35,000‌

TELUS

Corp.

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

587,300‌

20,000‌

Verizon

Communications

Inc.

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

898,200‌

11,472,627‌

Alternative

Carriers

 —

0.6%

32,000‌

Telesat

Corp.†

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

421,440‌

Media

&

Entertainment

 —

23.4%

Interactive

Media

&

Services

 —

15.0%

Interactive

Media

&

Services

 —

15.0%

28,000‌

Alphabet

Inc.,

Cl. C

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

4,681,320‌

9,500‌

Meta

Platforms

Inc.,

Cl. A

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

5,438,180‌

10,119,500‌

Entertainment

 —

4.9%

Movies

&

Entertainment

 —

4.9%

13,000‌

Atlanta

Braves

Holdings

Inc.,

Cl. C†

...........

517,400‌

225,000‌

Bollore

SE

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

1,498,996‌

50,000‌

Manchester

United

plc,

Cl. A†

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

809,000‌

5,000‌

The

Walt

Disney

Co.

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

480,950‌

3,306,346‌

Media

 —

3.5%

Cable

&

Satellite

 —

3.5%

45,000‌

Comcast

Corp.,

Cl. A

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

1,879,650‌

Shares

Market

Value

95,000‌

WideOpenWest

Inc.†

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

$

498,750‌

2,378,400‌

TOTAL

COMMUNICATION

SERVICES

......

48,954,686‌

CONSUMER

DISCRETIONARY

 —

8.5%

Retailing

 —

8.5%

Internet

&

Direct

Marketing

Retail

 —

8.5%

Internet

&

Direct

Marketing

Retail

 —

8.5%

4,500‌

Amazon.com

Inc.†

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

838,485‌

85,000‌

Prosus

NV

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

3,714,693‌

35,000‌

Zalando

SE†

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

1,154,002‌

5,707,180‌

TOTAL

CONSUMER

DISCRETIONARY

......

5,707,180‌

INFORMATION

TECHNOLOGY

 —

6.8%

Software

&

Services

 —

3.8%

Software

 —

3.8%

Systems

Software

 —

3.8%

6,000‌

Microsoft

Corp.

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

2,581,800‌

Technology

Hardware

&

Equipment

 —

3.0%

Technology

Hardware,

Storage

&

Peripherals

 —

1.8%

Technology

Hardware,

Storage

&

Peripherals

 —

1.8%

5,000‌

Apple

Inc.

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

1,165,000‌

Electronic

Equipment,

Instruments

&

Components

 —

1.2%

Electronic

Equipment

&

Instruments

 —

1.2%

8,500‌

Sony

Group

Corp.,

ADR

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

820,845‌

TOTAL

INFORMATION

TECHNOLOGY

......

4,567,645‌

FINANCIALS

 —

6.0%

Financial

Services

 —

6.0%

Financial

Services

 —

6.0%

Multi-Sector

Holdings

 —

3.1%

130,000‌

Kinnevik

AB,

Cl. B

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

1,057,066‌

500,000‌

VNV

Global

AB†

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

1,026,994‌

12,000‌

Waterloo

Investment

Holdings

Ltd.†(a)

......

6,000‌

2,090,060‌

Transaction

&

Payment

Processing

Services

 —

2.9%

2,000‌

Mastercard

Inc.,

Cl. A

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

987,600‌

12,000‌

PayPal

Holdings

Inc.†

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

936,360‌

1,923,960‌

Banks

 —

0.0%

Banks

 —

0.0%

Diversified

Banks

 —

0.0%

58‌

Nedbank

Group

Ltd.

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

1,004‌

2

The

Gabelli

Global

Content

&

Connectivity

Fund

Schedule

of

Investments

(Continued)

—

September

30,

2024

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

FINANCIALS

(Continued)

Insurance

 —

0.0%

Insurance

 —

0.0%

Life

&

Health

Insurance

 —

0.0%

4,460‌

Old

Mutual

Ltd.(a)

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

$

5‌

TOTAL

FINANCIALS

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

4,015,029‌

REAL

ESTATE

 —

4.7%

Real

Estate

 —

4.7%

Equity

Real

Estate

Investment

Trusts

 —

4.7%

Specialized

REITs

 —

4.7%

4,500‌

American

Tower

Corp.,

REIT

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

1,046,520‌

7,500‌

Crown

Castle

Inc.,

REIT

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

889,725‌

1,400‌

Equinix

Inc.,

REIT

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

1,242,682‌

3,178,927‌

TOTAL

REAL

ESTATE

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

3,178,927‌

TOTAL

COMMON

STOCKS

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

66,423,467‌

CLOSED-END

FUNDS

—

0.0%

CONSUMER

DISCRETIONARY

 —

0.0%

Retailing

 —

0.0%

Internet

&

Direct

Marketing

Retail

 —

0.0%

Internet

&

Direct

Marketing

Retail

 —

0.0%

5,800‌

Altaba

Inc.,

Escrow†

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

8,265‌

PREFERRED

STOCKS

—

0.7%

INFORMATION

TECHNOLOGY

 —

0.7%

Technology

-

Hardware

and

Equipment

 —

0.7%

Technology

Hardware,

Storage

&

Peripherals

 —

0.7%

Technology

Hardware,

Storage

&

Peripherals

 —

0.7%

13,000‌

Samsung

Electronics

Co.

Ltd.,

10.630%

.....

506,003‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

—

0.7%

$

450,000‌

U.S.

Treasury

Bill

4.544%††,

12/26/24

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

445,157‌

TOTAL

INVESTMENTS

—

100.0%

(Cost

$36,960,614)

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

$

67,382,892‌

(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

yield

at

date

of

purchase.

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

SDR

Swedish

Depositary

Receipt

Geographic

Diversification

%

of

Market

Value

Market

Value

North

America

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

64.1‌

%

$

43,200,584‌

Europe

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

24.9‌

16,798,899‌

Japan

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

8.3‌

5,596,576‌

Latin

America

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

1.3‌

854,621‌

Asia/Pacific

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

0.8‌

506,003‌

South

Africa

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

0.6‌

426,209‌

100.0‌%

$

67,382,892‌