NPORT-EX 2 GB601GB093021.htm
1
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
—
93
.1
%
Financial
Services
—
11
.5
%
75,000‌
Aegon
NV
......................
$
388,076‌
5,800‌
Ally
Financial
Inc.
.................
296,090‌
293,000‌
American
Express
Co.
(a)
............
49,086,290‌
28,000‌
Apollo
Global
Management
Inc.
.......
1,724,520‌
16,000‌
Argo
Group
International
Holdings
Ltd.
..
835,520‌
3,000‌
Axis
Capital
Holdings
Ltd.
...........
138,120‌
23,500‌
Banco
Bilbao
Vizcaya
Argentaria
SA
....
155,624‌
75,740‌
Banco
Santander
SA
,
ADR
...........
274,179‌
45,000‌
Bank
of
America
Corp.
..............
1,910,250‌
96,000‌
Barclays
plc
.....................
245,248‌
109‌
Berkshire
Hathaway
Inc.
,
Cl. A
†
.......
44,840,310‌
210‌
BlackRock
Inc.
...................
176,119‌
35,000‌
Blackstone
Inc.
...................
4,071,900‌
30,000‌
Blue
Owl
Capital
Inc.
...............
466,800‌
30,000‌
Brewin
Dolphin
Holdings
plc
.........
154,816‌
2,000‌
Capital
One
Financial
Corp.
...........
323,940‌
7,700‌
CIT
Group
Inc.
...................
400,015‌
125,050‌
Citigroup
Inc.
....................
8,776,009‌
42,274‌
Commerzbank
AG
†
................
281,811‌
10,000‌
Compass
Diversified
Holdings
........
281,700‌
20,345‌
Credit
Agricole
SA
.................
281,527‌
13,000‌
Credit
Suisse
Group
AG
,
ADR
.........
128,180‌
5,000‌
Cullen/Frost
Bankers
Inc.
............
593,100‌
134,200‌
Dah
Sing
Banking
Group
Ltd.
.........
122,914‌
102,300‌
Dah
Sing
Financial
Holdings
Ltd.
......
305,534‌
46,800‌
Daiwa
Securities
Group
Inc.
..........
274,968‌
30,000‌
Deutsche
Bank
AG
†
................
381,000‌
900‌
Deutsche
Boerse
AG
...............
146,473‌
358‌
E-L
Financial
Corp.
Ltd.
.............
264,272‌
2,000‌
EXOR
NV
.......................
168,934‌
23,500‌
Franklin
Resources
Inc.
.............
698,420‌
135,000‌
GAM
Holding
AG
†
.................
246,258‌
160,000‌
GS
Acquisition
Holdings
Corp.
II
,
Cl. A
†
.
1,635,200‌
10,000‌
H&R
Block
Inc.
...................
250,000‌
10,000‌
Hannon
Armstrong
Sustainable
Infrastructure
Capital
Inc.
,
REIT
......
534,800‌
5,000‌
Icahn
Enterprises
LP
...............
249,750‌
24,000‌
ING
Groep
NV
....................
349,395‌
46,000‌
Interactive
Brokers
Group
Inc.
,
Cl. A
....
2,867,640‌
109,100‌
Janus
Henderson
Group
plc
..........
4,509,103‌
10,200‌
Japan
Post
Bank
Co.
Ltd.
............
87,982‌
104,400‌
Jefferies
Financial
Group
Inc.
.........
3,876,372‌
36,900‌
JPMorgan
Chase
&
Co.
.............
6,040,161‌
5,000‌
Julius
Baer
Group
Ltd.
..............
334,353‌
29,800‌
Kinnevik
AB
,
Cl. A
†
................
1,170,977‌
14,000‌
Loews
Corp.
.....................
755,020‌
70,000‌
Marsh
&
McLennan
Companies
Inc.
....
10,600,100‌
9,000‌
Moody's
Corp.
...................
3,195,990‌
44,258‌
Morgan
Stanley
..................
4,306,746‌
240‌
MSCI
Inc.
.......................
146,002‌
Shares
Market
Value
90,500‌
NatWest
Group
plc
................
$
274,242‌
110,000‌
New
York
Community
Bancorp
Inc.
.....
1,415,700‌
6,900‌
NN
Group
NV
....................
361,826‌
24,410‌
PayPal
Holdings
Inc.
†
..............
6,351,726‌
5,500‌
Plus500
Ltd.
.....................
103,009‌
22,000‌
Polar
Capital
Holdings
plc
...........
240,107‌
75,000‌
Post
Holdings
Partnering
Corp.
†
.......
758,250‌
450,000‌
Post
Holdings
Partnering
Corp.
,
Cl. A
†
..
4,338,000‌
9,500‌
Prosus
NV
......................
759,188‌
67,000‌
S&P
Global
Inc.
..................
28,467,630‌
4,000‌
Sculptor
Capital
Management
Inc.
......
111,560‌
9,000‌
Shinhan
Financial
Group
Co.
Ltd.
,
ADR
..
303,030‌
9,700‌
Shinsei
Bank
Ltd.
.................
163,330‌
9,500‌
Societe
Generale
SA
...............
299,263‌
54,500‌
Standard
Chartered
plc
.............
320,169‌
116,500‌
State
Street
Corp.
.................
9,869,880‌
90,000‌
T.
Rowe
Price
Group
Inc.
............
17,703,000‌
159,800‌
The
Bank
of
New
York
Mellon
Corp.
....
8,284,032‌
67,000‌
The
Charles
Schwab
Corp.
...........
4,880,280‌
15,220‌
The
Goldman
Sachs
Group
Inc.
.......
5,753,616‌
2,000‌
The
PNC
Financial
Services
Group
Inc.
..
391,280‌
17,000‌
Truist
Financial
Corp.
...............
997,050‌
5,000‌
W.
R.
Berkley
Corp.
................
365,900‌
5,900‌
Webster
Financial
Corp.
.............
321,314‌
174,500‌
Wells
Fargo
&
Co.
.................
8,098,545‌
17,928‌
Westwood
Holdings
Group
Inc.
.......
340,632‌
260,621,067‌
Food
and
Beverage
—
9
.6
%
3,000‌
Ajinomoto
Co.
Inc.
................
89,114‌
2,100‌
Anheuser-Busch
InBev
SA/NV
........
119,547‌
95,800‌
Brown-Forman
Corp.
,
Cl. A
..........
6,003,786‌
49,300‌
Brown-Forman
Corp.
,
Cl. B
..........
3,303,593‌
40,000‌
Campbell
Soup
Co.
................
1,672,400‌
65,000‌
Chr.
Hansen
Holding
A/S
............
5,309,346‌
15,000‌
Coca-Cola
Europacific
Partners
plc
.....
829,350‌
205,000‌
Conagra
Brands
Inc.
...............
6,943,350‌
28,000‌
Constellation
Brands
Inc.
,
Cl. A
........
5,899,320‌
25,000‌
Crimson
Wine
Group
Ltd.
†
...........
214,750‌
189,500‌
Danone
SA
......................
12,961,908‌
862,000‌
Davide
Campari-Milano
NV
..........
12,161,702‌
3,700‌
Diageo
plc
......................
179,773‌
115,000‌
Diageo
plc
,
ADR
..................
22,195,000‌
48,083‌
Farmer
Brothers
Co.
†
..............
404,378‌
90,000‌
Flowers
Foods
Inc.
................
2,126,700‌
82,200‌
Fomento
Economico
Mexicano
SAB
de
CV
,
ADR
.........................
7,128,384‌
15,000‌
General
Mills
Inc.
.................
897,300‌
15,000‌
Glanbia
plc
......................
247,424‌
1,848,400‌
Grupo
Bimbo
SAB
de
CV
,
Cl. A
........
5,194,665‌
41,300‌
Heineken
NV
....................
4,315,155‌
10,000‌
Ingredion
Inc.
....................
890,100‌
2
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Food
and
Beverage
(Continued)
105,000‌
ITO
EN
Ltd.
.....................
$
7,000,314‌
58,700‌
Kerry
Group
plc
,
Cl. A
..............
7,877,238‌
1,800‌
Laurent-Perrier
...................
206,418‌
9,700‌
LVMH
Moet
Hennessy
Louis
Vuitton
SE
..
6,967,440‌
30,000‌
Maple
Leaf
Foods
Inc.
..............
609,664‌
33,000‌
Molson
Coors
Beverage
Co.
,
Cl. B
......
1,530,540‌
232,000‌
Mondelēz
International
Inc.
,
Cl. A
......
13,497,760‌
14,000‌
Morinaga
Milk
Industry
Co.
Ltd.
.......
880,543‌
41,000‌
Nestlé
SA
.......................
4,958,099‌
15,000‌
Nomad
Foods
Ltd.
†
................
413,400‌
133,000‌
PepsiCo
Inc.
.....................
20,004,530‌
39,200‌
Pernod
Ricard
SA
.................
8,659,176‌
31,000‌
Post
Holdings
Inc.
†
................
3,414,960‌
41,500‌
Remy
Cointreau
SA
................
8,051,980‌
6,000‌
Sanderson
Farms
Inc.
..............
1,129,200‌
70,000‌
The
Coca-Cola
Co.
................
3,672,900‌
57,500‌
The
Hain
Celestial
Group
Inc.
†
........
2,459,850‌
24,000‌
The
J.M.
Smucker
Co.
..............
2,880,720‌
24,000‌
The
Kraft
Heinz
Co.
................
883,680‌
45,000‌
Tootsie
Roll
Industries
Inc.
...........
1,369,350‌
4,000‌
TreeHouse
Foods
Inc.
†
.............
159,520‌
46,000‌
Tyson
Foods
Inc.
,
Cl. A
.............
3,631,240‌
334,000‌
Yakult
Honsha
Co.
Ltd.
.............
16,985,848‌
216,331,415‌
Equipment
and
Supplies
—
6
.5
%
355,000‌
AMETEK
Inc.
....................
44,023,550‌
14,000‌
Amphenol
Corp.
,
Cl. A
..............
1,025,220‌
25,000‌
Ardagh
Group
SA
.................
637,250‌
148,000‌
Ardagh
Metal
Packaging
SA
†
.........
1,474,080‌
84,000‌
CIRCOR
International
Inc.
†
..........
2,772,840‌
4,000‌
Crown
Holdings
Inc.
...............
403,120‌
1,150‌
Danaher
Corp.
...................
350,106‌
294,000‌
Donaldson
Co.
Inc.
................
16,878,540‌
22,000‌
DS
Smith
plc
....................
122,395‌
193,500‌
Flowserve
Corp.
..................
6,708,645‌
37,000‌
Franklin
Electric
Co.
Inc.
............
2,954,450‌
15,000‌
Hubbell
Inc.
.....................
2,710,050‌
140,000‌
IDEX
Corp.
......................
28,973,000‌
45,000‌
Ilika
plc
†
.......................
84,886‌
8,288‌
Kimball
Electronics
Inc.
†
............
213,582‌
102,000‌
Mueller
Industries
Inc.
..............
4,192,200‌
186,900‌
Mueller
Water
Products
Inc.
,
Cl. A
.....
2,844,618‌
8,000‌
Sealed
Air
Corp.
..................
438,320‌
20,000‌
Tenaris
SA
,
ADR
..................
422,200‌
270,000‌
The
L.S.
Starrett
Co.
,
Cl. A
†
..........
3,372,300‌
80,000‌
The
Timken
Co.
...................
5,233,600‌
59,600‌
The
Weir
Group
plc
†
...............
1,358,360‌
114,500‌
Watts
Water
Technologies
Inc.
,
Cl. A
....
19,246,305‌
146,439,617‌
Shares
Market
Value
Diversified
Industrial
—
5
.1
%
400‌
Agilent
Technologies
Inc.
............
$
63,012‌
343,444‌
Ampco-Pittsburgh
Corp.
†
...........
1,614,187‌
42,006‌
AZZ
Inc.
........................
2,234,719‌
40,000‌
Colfax
Corp.
†
....................
1,836,000‌
159,100‌
Crane
Co.
.......................
15,084,271‌
28,875‌
General
Electric
Co.
................
2,974,991‌
126,000‌
Greif
Inc.
,
Cl. A
...................
8,139,600‌
12,000‌
Greif
Inc.
,
Cl. B
...................
777,600‌
68,000‌
Griffon
Corp.
....................
1,672,800‌
149,500‌
Honeywell
International
Inc.
..........
31,735,860‌
29,119‌
Ingersoll
Rand
Inc.
†
...............
1,467,889‌
3,500‌
IntriCon
Corp.
†
...................
63,560‌
88,925‌
ITT
Inc.
........................
7,633,322‌
35,000‌
Kennametal
Inc.
..................
1,198,050‌
50,000‌
Myers
Industries
Inc.
..............
978,500‌
30,000‌
nVent
Electric
plc
.................
969,900‌
100,000‌
Park-Ohio
Holdings
Corp.
...........
2,552,000‌
2,400‌
Proto
Labs
Inc.
†
..................
159,840‌
30,000‌
Rexnord
Corp.
...................
1,928,700‌
3,000‌
Rheinmetall
AG
...................
294,615‌
500‌
Roper
Technologies
Inc.
............
223,065‌
518,900‌
Steel
Partners
Holdings
LP
†
..........
14,749,732‌
12,000‌
Sulzer
AG
.......................
1,148,559‌
46,600‌
Textron
Inc.
.....................
3,253,146‌
1,600‌
The
Eastern
Co.
..................
40,256‌
100,000‌
Toray
Industries
Inc.
...............
643,515‌
43,000‌
Trane
Technologies
plc
.............
7,423,950‌
20,000‌
Tredegar
Corp.
...................
243,600‌
90,000‌
Trinity
Industries
Inc.
...............
2,445,300‌
4,000‌
Valmont
Industries
Inc.
.............
940,480‌
14,000‌
Vantage
Towers
AG
................
475,480‌
114,966,499‌
Consumer
Products
—
5
.1
%
8,460‌
American
Outdoor
Brands
Inc.
†
.......
207,778‌
14,100‌
Christian
Dior
SE
.................
10,191,627‌
27,000‌
Church
&
Dwight
Co.
Inc.
...........
2,229,390‌
252,000‌
Edgewell
Personal
Care
Co.
..........
9,147,600‌
171,000‌
Energizer
Holdings
Inc.
.............
6,677,550‌
35,500‌
Essity
AB
,
Cl. B
...................
1,102,988‌
2,100‌
Givaudan
SA
....................
9,603,734‌
80,000‌
Hanesbrands
Inc.
.................
1,372,800‌
23,800‌
Harley-Davidson
Inc.
...............
871,318‌
1,270‌
Hermes
International
...............
1,760,177‌
800‌
Johnson
Outdoors
Inc.
,
Cl. A
.........
84,640‌
7,959‌
Kimball
International
Inc.
,
Cl. B
........
89,141‌
25,000‌
Mattel
Inc.
†
.....................
464,000‌
10,000‌
National
Presto
Industries
Inc.
........
820,800‌
10,000‌
Oil-Dri
Corp.
of
America
.............
350,000‌
49,900‌
Reckitt
Benckiser
Group
plc
..........
3,919,816‌
2,205‌
Spectrum
Brands
Holdings
Inc.
.......
210,952‌
3
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Consumer
Products
(Continued)
27,600‌
Svenska
Cellulosa
AB
SCA
,
Cl. B
.......
$
430,028‌
7,269,000‌
Swedish
Match
AB
................
63,652,739‌
400‌
The
Estee
Lauder
Companies
Inc.
,
Cl. A
..
119,972‌
5,000‌
The
Honest
Co.
Inc.
†
...............
51,900‌
4,280‌
Unilever
plc
.....................
230,963‌
6,016‌
Zalando
SE
†
(b)
...................
552,752‌
114,142,665‌
Health
Care
—
5
.0
%
500‌
Abbott
Laboratories
...............
59,065‌
11,700‌
AbbVie
Inc.
.....................
1,262,079‌
500‌
ABIOMED
Inc.
†
...................
162,760‌
2,000‌
ACADIA
Pharmaceuticals
Inc.
†
........
33,220‌
1,736‌
Acorda
Therapeutics
Inc.
†
...........
7,986‌
2,000‌
Aerie
Pharmaceuticals
Inc.
†
..........
22,800‌
16,200‌
Alcon
Inc.
......................
1,303,614‌
4,000‌
Alimera
Sciences
Inc.
†
.............
17,000‌
2,000‌
Alkermes
plc
†
...................
61,680‌
7,000‌
AmerisourceBergen
Corp.
...........
836,150‌
25,000‌
Amgen
Inc.
.....................
5,316,250‌
2,764‌
Anika
Therapeutics
Inc.
†
............
117,636‌
10,901‌
Aptinyx
Inc.
†
....................
25,508‌
2,000‌
AstraZeneca
plc
..................
241,400‌
47,992‌
Axogen
Inc.
†
....................
758,274‌
14,000‌
Baxter
International
Inc.
.............
1,126,020‌
2,600‌
Becton,
Dickinson
and
Co.
...........
639,132‌
1,200‌
Berkeley
Lights
Inc.
†
...............
23,472‌
7,000‌
Biogen
Inc.
†
.....................
1,980,930‌
26,100‌
BioMarin
Pharmaceutical
Inc.
†
........
2,017,269‌
38,500‌
Bluebird
Bio
Inc.
†
.................
735,735‌
135,000‌
Boston
Scientific
Corp.
†
............
5,857,650‌
3,000‌
Bridgebio
Pharma
Inc.
†
.............
140,610‌
139,600‌
Bristol-Myers
Squibb
Co.
............
8,260,132‌
12,150‌
Calithera
Biosciences
Inc.
†
..........
26,487‌
1,000‌
CareDx
Inc.
†
....................
63,370‌
3,000‌
Cigna
Corp.
.....................
600,480‌
30,400‌
Clovis
Oncology
Inc.
†
..............
135,584‌
167,823‌
ConforMIS
Inc.
†
..................
223,205‌
1,500‌
Cortexyme
Inc.
†
..................
137,490‌
15,800‌
Covetrus
Inc.
†
...................
286,612‌
9,220‌
Cutera
Inc.
†
.....................
429,652‌
8,000‌
CytomX
Therapeutics
Inc.
†
..........
40,720‌
800‌
Dechra
Pharmaceuticals
plc
..........
52,279‌
242,000‌
Demant
A/S
†
....................
12,198,006‌
1,660‌
Edwards
Lifesciences
Corp.
†
.........
187,929‌
4,300‌
eHealth
Inc.
†
....................
174,150‌
62,000‌
ElectroCore
Inc.
†
.................
70,060‌
24,411‌
Electromed
Inc.
†
..................
264,127‌
17,200‌
Endo
International
plc
†
.............
55,728‌
800‌
Eurofins
Scientific
SE
..............
102,713‌
Shares
Market
Value
3,000‌
Evolus
Inc.
†
.....................
$
22,860‌
4,340‌
Exact
Sciences
Corp.
†
..............
414,253‌
3,100‌
Fresenius
SE
&
Co.
KGaA
............
149,147‌
2,000‌
G1
Therapeutics
Inc.
†
..............
26,840‌
5,000‌
Galapagos
NV
,
ADR
†
...............
263,050‌
1,390‌
Gerresheimer
AG
.................
136,537‌
7,500‌
Gilead
Sciences
Inc.
...............
523,875‌
3,000‌
Glaukos
Corp.
†
...................
144,510‌
8,000‌
GlaxoSmithKline
plc
...............
151,297‌
3,000‌
Globus
Medical
Inc.
,
Cl. A
†
..........
229,860‌
6,919‌
GoodRx
Holdings
Inc.
,
Cl. A
†
.........
283,817‌
2,000‌
Gritstone
bio
Inc.
†
................
21,600‌
500‌
Guardant
Health
Inc.
†
..............
62,505‌
3,000‌
Haemonetics
Corp.
†
...............
211,770‌
65,000‌
Henry
Schein
Inc.
†
................
4,950,400‌
10,000‌
Hill-Rom
Holdings
Inc.
.............
1,500,000‌
1,400‌
Hologic
Inc.
†
....................
103,334‌
1,496‌
ICU
Medical
Inc.
†
.................
349,136‌
3,400‌
Idorsia
Ltd.
†
.....................
82,378‌
200‌
Illumina
Inc.
†
....................
81,122‌
5,500‌
Incyte
Corp.
†
....................
378,290‌
46,800‌
Indivior
plc
†
.....................
136,080‌
1,374‌
Inogen
Inc.
†
.....................
59,206‌
14,000‌
Intercept
Pharmaceuticals
Inc.
†
.......
207,900‌
7,000‌
Intersect
ENT
Inc.
†
................
190,400‌
185‌
Intuitive
Surgical
Inc.
†
..............
183,918‌
2,000‌
Invitae
Corp.
†
....................
56,860‌
1,200‌
Ipsen
SA
.......................
114,760‌
6,200‌
iRhythm
Technologies
Inc.
†
..........
363,072‌
31,600‌
Johnson
&
Johnson
...............
5,103,400‌
7,000‌
Jounce
Therapeutics
Inc.
†
...........
52,010‌
500‌
Koninklijke
DSM
NV
...............
100,052‌
400‌
Laboratory
Corp.
of
America
Holdings
†
..
112,576‌
12,569‌
Lannett
Co.
Inc.
†
.................
37,707‌
1,833‌
Larimar
Therapeutics
Inc.
†
..........
21,134‌
2,000‌
LeMaitre
Vascular
Inc.
..............
106,180‌
10,500‌
Mallinckrodt
plc
†
.................
2,085‌
6,750‌
Marinus
Pharmaceuticals
Inc.
†
........
76,815‌
12,000‌
Medmix
AG
†
....................
566,554‌
700‌
Medpace
Holdings
Inc.
†
............
132,496‌
106,300‌
Merck
&
Co.
Inc.
..................
7,984,193‌
2,000‌
Meridian
Bioscience
Inc.
†
...........
38,480‌
200‌
Moderna
Inc.
†
...................
76,972‌
2,000‌
NanoString
Technologies
Inc.
†
........
96,020‌
6,000‌
Nektar
Therapeutics
†
..............
107,760‌
2,000‌
NeoGenomics
Inc.
†
................
96,480‌
102,117‌
Neuronetics
Inc.
†
.................
669,888‌
1,275‌
Novartis
AG
.....................
105,111‌
80,000‌
Novartis
AG
,
ADR
.................
6,542,400‌
7,900‌
NuVasive
Inc.
†
...................
472,815‌
4,000‌
Odonate
Therapeutics
Inc.
†
..........
11,640‌
117,975‌
Option
Care
Health
Inc.
†
............
2,862,074‌
4
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Health
Care
(Continued)
5,000‌
OraSure
Technologies
Inc.
†
..........
$
56,550‌
10,430‌
Organon
&
Co.
...................
342,000‌
5,000‌
Orthofix
Medical
Inc.
†
..............
190,600‌
500‌
PerkinElmer
Inc.
..................
86,645‌
2,000‌
Perrigo
Co.
plc
...................
94,660‌
2,200‌
Personalis
Inc.
†
..................
42,328‌
1,500‌
Pfizer
Inc.
......................
64,515‌
8,500‌
Puma
Biotechnology
Inc.
†
...........
59,585‌
1,500‌
QIAGEN
NV
†
....................
77,520‌
500‌
Quest
Diagnostics
Inc.
..............
72,655‌
11,900‌
Quidel
Corp.
†
....................
1,679,685‌
300‌
Repligen
Corp.
†
..................
86,697‌
27,064‌
ReWalk
Robotics
Ltd.
†
.............
40,867‌
650‌
Roche
Holding
AG,
Genusschein
.......
238,497‌
26,121‌
Rockwell
Medical
Inc.
†
.............
15,568‌
3,000‌
Sangamo
Therapeutics
Inc.
†
.........
27,030‌
2,100‌
Sanofi
.........................
202,095‌
2,000‌
Sarepta
Therapeutics
Inc.
†
...........
184,960‌
1,000‌
Siemens
Healthineers
AG
(b)
..........
65,076‌
2,596‌
Sio
Gene
Therapies
Inc.
†
............
5,633‌
156,301‌
SmileDirectClub
Inc.
†
..............
831,521‌
5,615‌
Tactile
Systems
Technology
Inc.
†
......
249,587‌
5,000‌
Takeda
Pharmaceutical
Co.
Ltd.
.......
166,180‌
11,000‌
Teva
Pharmaceutical
Industries
Ltd.
,
ADR
†
107,140‌
15,700‌
Tristel
plc
.......................
127,983‌
41,300‌
UnitedHealth
Group
Inc.
............
16,137,562‌
11,996‌
Valeritas
Holdings
Inc.
†
(c)
...........
240‌
500‌
Vertex
Pharmaceuticals
Inc.
†
.........
90,695‌
6,000‌
Viatris
Inc.
......................
81,300‌
11,481‌
Voyager
Therapeutics
Inc.
†
..........
30,195‌
4,000‌
Waters
Corp.
†
...................
1,429,200‌
14,000‌
Zimmer
Biomet
Holdings
Inc.
.........
2,049,040‌
26,000‌
Zoetis
Inc.
......................
5,047,640‌
21,297‌
Zosano
Pharma
Corp.
†
.............
15,327‌
112,825,359‌
Entertainment
—
4
.8
%
26,050‌
Activision
Blizzard
Inc.
..............
2,016,010‌
20,658‌
Charter
Communications
Inc.
,
Cl. A
†
....
15,029,935‌
34,000‌
Discovery
Inc.
,
Cl. A
†
..............
862,920‌
255,800‌
Discovery
Inc.
,
Cl. C
†
..............
6,208,266‌
422,000‌
Dover
Motorsports
Inc.
.............
1,021,240‌
2,000‌
Electronic
Arts
Inc.
................
284,500‌
90,000‌
Genting
Singapore
Ltd.
.............
47,724‌
730,000‌
Grupo
Televisa
SAB
,
ADR
............
8,015,400‌
40,000‌
IMAX
Corp.
†
....................
759,200‌
120,000‌
Liberty
Media
Acquisition
Corp.
†
......
1,239,600‌
46,500‌
Liberty
Media
Corp.-
Liberty
Braves
,
Cl. A
†
1,251,315‌
82,708‌
Liberty
Media
Corp.-
Liberty
Braves
,
Cl. C
†
2,185,145‌
25,545‌
Lions
Gate
Entertainment
Corp.
,
Cl. B
†
..
332,085‌
Shares
Market
Value
3,000‌
Live
Nation
Entertainment
Inc.
†
.......
$
273,390‌
144,394‌
Madison
Square
Garden
Entertainment
Corp.
†
.......................
10,493,112‌
96,367‌
Madison
Square
Garden
Sports
Corp.
†
..
17,919,444‌
970‌
Netflix
Inc.
†
.....................
592,030‌
15,000‌
Rovio
Entertainment
Oyj
(b)
..........
100,342‌
8,000‌
Take-Two
Interactive
Software
Inc.
†
....
1,232,560‌
40,000‌
TBS
Holdings
Inc.
.................
616,380‌
94,510‌
The
Walt
Disney
Co.
†
..............
15,988,257‌
2,900‌
Ubisoft
Entertainment
SA
†
...........
174,276‌
60,000‌
Universal
Entertainment
Corp.
†
.......
1,362,864‌
23,000‌
Universal
Music
Group
NV
†
..........
615,831‌
372,000‌
ViacomCBS
Inc.
,
Cl. A
..............
15,650,040‌
5,000‌
ViacomCBS
Inc.
,
Cl. B
..............
197,550‌
284,000‌
Vivendi
SE
......................
3,587,433‌
1,700‌
Xilam
Animation
SA
†
...............
78,866‌
108,135,715‌
Business
Services
—
4
.1
%
11,000‌
Allegion
plc
.....................
1,453,980‌
9,100‌
Applus
Services
SA
................
86,752‌
425,000‌
Clear
Channel
Outdoor
Holdings
Inc.
†
...
1,151,750‌
215,000‌
Diebold
Nixdorf
Inc.
†
..............
2,173,650‌
3,000‌
Edenred
........................
162,042‌
2,000‌
ICF
International
Inc.
...............
178,580‌
8,000‌
IHS
Markit
Ltd.
...................
932,960‌
16,000‌
Jardine
Matheson
Holdings
Ltd.
.......
848,640‌
11,000‌
Lamar
Advertising
Co.
,
Cl. A,
REIT
.....
1,247,950‌
162,000‌
Macquarie
Infrastructure
Holdings
LLC
..
6,570,720‌
165,530‌
Mastercard
Inc.
,
Cl. A
..............
57,551,471‌
80,000‌
Network
International
Holdings
plc
†
(b)
..
391,608‌
157,500‌
Resideo
Technologies
Inc.
†
..........
3,904,425‌
1,220,000‌
Steel
Connect
Inc.
†
................
2,476,600‌
209,000‌
The
Interpublic
Group
of
Companies
Inc.
.
7,664,030‌
10,000‌
United
Parcel
Service
Inc.
,
Cl. B
.......
1,821,000‌
3,000‌
Viad
Corp.
†
.....................
136,230‌
13,960‌
Visa
Inc.
,
Cl. A
...................
3,109,590‌
7,000‌
Willdan
Group
Inc.
†
...............
249,130‌
2,000‌
Worldline
SA
†
(b)
.................
152,925‌
92,264,033‌
Machinery
—
3
.5
%
25,000‌
Astec
Industries
Inc.
...............
1,345,250‌
12,800‌
Caterpillar
Inc.
...................
2,457,216‌
346,610‌
CNH
Industrial
NV
.................
5,757,192‌
141,500‌
Deere
&
Co.
(a)
...................
47,412,405‌
184,000‌
Xylem
Inc.
......................
22,757,120‌
79,729,183‌
Automotive:
Parts
and
Accessories
—
3
.4
%
10,620‌
Aptiv
plc
†
......................
1,582,061‌
89,600‌
BorgWarner
Inc.
..................
3,871,616‌
330,900‌
Dana
Inc.
.......................
7,359,216‌
5
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Automotive:
Parts
and
Accessories
(Continued)
26,000‌
Garrett
Motion
Inc.
†
...............
$
191,620‌
216,700‌
Genuine
Parts
Co.
.................
26,270,541‌
300,000‌
Modine
Manufacturing
Co.
†
..........
3,399,000‌
46,500‌
O'Reilly
Automotive
Inc.
†
............
28,414,290‌
105,000‌
Standard
Motor
Products
Inc.
........
4,589,550‌
23,000‌
Strattec
Security
Corp.
†
.............
894,700‌
110,000‌
Superior
Industries
International
Inc.
†
...
775,500‌
15,000‌
Tenneco
Inc.
,
Cl. A
†
...............
214,050‌
77,562,144‌
Consumer
Services
—
3
.1
%
535‌
Amazon.com
Inc.
†
................
1,757,496‌
373,500‌
Bollore
SA
......................
2,165,382‌
2,000‌
Deutsche
Post
AG
.................
126,214‌
11,000‌
eBay
Inc.
.......................
766,370‌
7,000‌
HomeServe
plc
...................
85,311‌
47,000‌
IAC/InterActiveCorp.
†
..............
6,123,630‌
142,000‌
Liberty
TripAdvisor
Holdings
Inc.
,
Cl. A
†
.
438,780‌
50,000‌
Matthews
International
Corp.
,
Cl. A
.....
1,734,500‌
430,000‌
Qurate
Retail
Inc.
,
Cl. A
.............
4,381,700‌
1,344,000‌
Rollins
Inc.
......................
47,483,520‌
78,500‌
Terminix
Global
Holdings
Inc.
†
........
3,271,095‌
4,000‌
Travel
+
Leisure
Co.
................
218,120‌
105,000‌
Vroom
Inc.
†
.....................
2,317,350‌
70,869,468‌
Energy
and
Utilities
—
2
.8
%
33,000‌
APA
Corp.
......................
707,190‌
5,000‌
Atlantica
Sustainable
Infrastructure
plc
..
172,550‌
60,000‌
Avangrid
Inc.
....................
2,916,000‌
20,000‌
BP
plc
,
ADR
.....................
546,600‌
16,000‌
CMS
Energy
Corp.
................
955,680‌
161,500‌
ConocoPhillips
...................
10,944,855‌
9,700‌
Electricite
de
France
SA
.............
122,360‌
98,400‌
Enbridge
Inc.
....................
3,916,320‌
51,000‌
Energy
Transfer
LP
................
488,580‌
68,700‌
Enterprise
Products
Partners
LP
.......
1,486,668‌
1,500‌
Eos
Energy
Enterprises
Inc.
†
.........
21,045‌
48,000‌
Evergy
Inc.
......................
2,985,600‌
40,000‌
Eversource
Energy
................
3,270,400‌
46,000‌
Exxon
Mobil
Corp.
................
2,705,720‌
254,000‌
Halliburton
Co.
...................
5,491,480‌
65,000‌
Kinder
Morgan
Inc.
................
1,087,450‌
4,000‌
Marathon
Oil
Corp.
................
54,680‌
8,000‌
Marathon
Petroleum
Corp.
...........
494,480‌
45,000‌
National
Fuel
Gas
Co.
..............
2,363,400‌
43,500‌
NextEra
Energy
Inc.
................
3,415,620‌
65,000‌
NextEra
Energy
Partners
LP
..........
4,898,400‌
4,000‌
Niko
Resources
Ltd.,
Toronto
†
........
26‌
10,000‌
Occidental
Petroleum
Corp.
..........
295,800‌
120,000‌
Oceaneering
International
Inc.
†
.......
1,598,400‌
Shares
Market
Value
95,000‌
PG&E
Corp.
†
....................
$
912,000‌
21,000‌
Phillips
66
......................
1,470,630‌
7,500‌
PNM
Resources
Inc.
...............
371,100‌
24,000‌
Portland
General
Electric
Co.
.........
1,127,760‌
76,000‌
RPC
Inc.
†
......................
369,360‌
47,000‌
Schlumberger
NV
.................
1,393,080‌
30,770‌
Southwest
Gas
Holdings
Inc.
.........
2,057,897‌
100,000‌
The
AES
Corp.
...................
2,283,000‌
2,280‌
TotalEnergies
SE
,
ADR
..............
109,167‌
34,000‌
UGI
Corp.
.......................
1,449,080‌
62,482,378‌
Cable
and
Satellite
—
2
.6
%
67,500‌
Altice
USA
Inc.
,
Cl. A
†
..............
1,398,600‌
60,000‌
AMC
Networks
Inc.
,
Cl. A
†
...........
2,795,400‌
200‌
Cable
One
Inc.
...................
362,626‌
223,980‌
Comcast
Corp.
,
Cl. A
...............
12,527,201‌
68,642‌
DISH
Network
Corp.
,
Cl. A
†
..........
2,983,181‌
95,433‌
EchoStar
Corp.
,
Cl. A
†
..............
2,434,496‌
145,605‌
Liberty
Global
plc
,
Cl. A
†
............
4,339,029‌
304,064‌
Liberty
Global
plc
,
Cl. C
†
............
8,957,726‌
57,987‌
Liberty
Latin
America
Ltd.
,
Cl. A
†
......
758,470‌
71,664‌
Liberty
Latin
America
Ltd.
,
Cl. C
†
......
940,232‌
377,800‌
Rogers
Communications
Inc.
,
Cl. B
.....
17,620,592‌
158,000‌
Shaw
Communications
Inc.
,
Cl. B
......
4,588,320‌
59,705,873‌
Electronics
—
2
.4
%
6,400‌
ams
AG
†
.......................
117,122‌
41,591‌
Bel
Fuse
Inc.
,
Cl. A
................
597,663‌
75,000‌
Flex
Ltd.
†
.......................
1,326,000‌
4,000‌
Hitachi
Ltd.
,
ADR
.................
474,480‌
56,500‌
Intel
Corp.
......................
3,010,320‌
390‌
KLA
Corp.
......................
130,459‌
33,000‌
Koninklijke
Philips
NV
..............
1,466,520‌
1,400‌
Mettler-Toledo
International
Inc.
†
......
1,928,304‌
25,000‌
Plug
Power
Inc.
†
.................
638,500‌
16,000‌
Sony
Group
Corp.
,
ADR
.............
1,769,280‌
40,000‌
TE
Connectivity
Ltd.
...............
5,488,800‌
189,000‌
Texas
Instruments
Inc.
.............
36,327,690‌
520‌
Thermo
Fisher
Scientific
Inc.
.........
297,091‌
500‌
Universal
Display
Corp.
.............
85,480‌
6,000‌
Vishay
Precision
Group
Inc.
†
.........
208,620‌
53,866,329‌
Retail
—
2
.4
%
60,000‌
AutoNation
Inc.
†
..................
7,305,600‌
5,000‌
Casey's
General
Stores
Inc.
..........
942,250‌
37,200‌
Costco
Wholesale
Corp.
.............
16,715,820‌
93,000‌
CVS
Health
Corp.
.................
7,891,980‌
23,000‌
Lowe's
Companies
Inc.
.............
4,665,780‌
125,000‌
Macy's
Inc.
.....................
2,825,000‌
15,000‌
Movado
Group
Inc.
................
472,350‌
6
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Retail
(Continued)
1,570‌
NIKE
Inc.
,
Cl. B
...................
$
228,011‌
44,228‌
PetIQ
Inc.
†
......................
1,104,373‌
10,000‌
Pets
at
Home
Group
plc
.............
64,756‌
35,000‌
Sally
Beauty
Holdings
Inc.
†
..........
589,750‌
11,400‌
Shake
Shack
Inc.
,
Cl. A
†
............
894,444‌
5,000‌
The
Original
BARK
Co.
†
.............
34,300‌
125,000‌
The
Wendy's
Co.
..................
2,710,000‌
56,000‌
Walgreens
Boots
Alliance
Inc.
........
2,634,800‌
30,000‌
Walmart
Inc.
....................
4,181,400‌
53,260,614‌
Broadcasting
—
2
.2
%
2,000‌
Cogeco
Inc.
.....................
142,429‌
24,000‌
Corus
Entertainment
Inc.,
OTC
,
Cl. B
.....................
107,040‌
133,400‌
Fox
Corp.
,
Cl. A
...................
5,350,674‌
61,000‌
Fox
Corp.
,
Cl. B
...................
2,264,320‌
16,000‌
Gray
Television
Inc.
................
365,120‌
19,250‌
Liberty
Broadband
Corp.
,
Cl. A
†
.......
3,240,738‌
87,172‌
Liberty
Broadband
Corp.
,
Cl. C
†
.......
15,054,604‌
48,333‌
Liberty
Media
Corp.-
Liberty
Formula
One
,
Cl. A
†
........................
2,274,068‌
48,250‌
Liberty
Media
Corp.-
Liberty
Formula
One
,
Cl. C
†
........................
2,480,532‌
55,000‌
Liberty
Media
Corp.-
Liberty
SiriusXM
,
Cl. A
†
........................
2,594,350‌
183,449‌
Liberty
Media
Corp.-
Liberty
SiriusXM
,
Cl. C
†
........................
8,708,324‌
19,000‌
Nexstar
Media
Group
Inc.
,
Cl. A
.......
2,887,240‌
80,000‌
Sinclair
Broadcast
Group
Inc.
,
Cl. A
.....
2,534,400‌
50,000‌
TEGNA
Inc.
.....................
986,000‌
80,000‌
Television
Broadcasts
Ltd.
†
..........
63,201‌
49,053,040‌
Environmental
Services
—
2
.1
%
47,000‌
Biffa
plc
†
(b)
.....................
227,980‌
30,000‌
Pentair
plc
......................
2,178,900‌
229,000‌
Republic
Services
Inc.
..............
27,493,740‌
14,100‌
Veolia
Environnement
SA
............
432,164‌
111,600‌
Waste
Management
Inc.
............
16,668,576‌
47,001,360‌
Computer
Software
and
Services
—
2
.1
%
550‌
Adobe
Inc.
†
.....................
316,646‌
4,500‌
Alibaba
Group
Holding
Ltd.
,
ADR
†
.....
666,225‌
150‌
Alphabet
Inc.
,
Cl. A
†
...............
401,028‌
6,348‌
Alphabet
Inc.
,
Cl. C
†
...............
16,919,388‌
2,200‌
Atos
SE
........................
117,607‌
14,000‌
Avast
plc
(b)
.....................
107,108‌
5,200‌
Blue
Prism
Group
plc
†
.............
80,574‌
9,500‌
Check
Point
Software
Technologies
Ltd.
†
.
1,073,880‌
Shares
Market
Value
1,750‌
Cloudflare
Inc.
,
Cl. A
†
..............
$
197,137‌
670‌
CrowdStrike
Holdings
Inc.
,
Cl. A
†
......
164,673‌
4,000‌
Digital
Turbine
Inc.
†
...............
275,000‌
25,195‌
Facebook
Inc.
,
Cl. A
†
...............
8,550,931‌
300‌
FactSet
Research
Systems
Inc.
........
118,434‌
1,800‌
Fidelity
National
Information
Services
Inc.
219,024‌
15,000‌
FireEye
Inc.
†
....................
267,000‌
15,520‌
Fiserv
Inc.
†
.....................
1,683,920‌
70,000‌
GTY
Technology
Holdings
Inc.
†
.......
526,400‌
90,000‌
Hewlett
Packard
Enterprise
Co.
........
1,282,500‌
10,000‌
I3
Verticals
Inc.
,
Cl. A
†
.............
242,100‌
4,000‌
Micron
Technology
Inc.
.............
283,920‌
5,850‌
Microsoft
Corp.
..................
1,649,232‌
2,000‌
MKS
Instruments
Inc.
..............
301,820‌
23,500‌
N-Able
Inc.
†
.....................
291,635‌
4,000‌
NCR
Corp.
†
.....................
155,040‌
5,000‌
NortonLifeLock
Inc.
................
126,500‌
1,930‌
NVIDIA
Corp.
....................
399,819‌
140,000‌
Oxford
Metrics
plc
................
202,784‌
4,700‌
PSI
Software
AG
..................
204,704‌
200‌
Qualtrics
International
Inc.
,
Cl. A
†
......
8,548‌
18,500‌
Rockwell
Automation
Inc.
...........
5,439,740‌
700‌
salesforce.com
Inc.
†
...............
189,854‌
1,800‌
SAP
SE
,
ADR
....................
243,072‌
455‌
ServiceNow
Inc.
†
.................
283,133‌
615‌
Snowflake
Inc.
,
Cl. A
†
..............
185,994‌
23,500‌
SolarWinds
Corp.
.................
393,155‌
4,900‌
Tailwind
Acquisition
Corp.
,
Cl. A
†
......
47,922‌
1,300‌
Temenos
AG
.....................
177,295‌
2,300‌
Trimble
Inc.
†
....................
189,175‌
2,000‌
Unity
Software
Inc.
†
...............
252,500‌
400‌
Veeva
Systems
Inc.
,
Cl. A
†
...........
115,268‌
63,000‌
Vimeo
Inc.
†
.....................
1,850,310‌
1,200‌
VMware
Inc.
,
Cl. A
†
................
178,440‌
4,700‌
ZoomInfo
Technologies
Inc.
,
Cl. A
†
.....
287,593‌
46,667,028‌
Specialty
Chemicals
—
2
.0
%
11,000‌
AdvanSix
Inc.
†
...................
437,250‌
1,600‌
Covestro
AG
(b)
...................
109,978‌
137,000‌
DuPont
de
Nemours
Inc.
............
9,314,630‌
423,500‌
Ferro
Corp.
†
.....................
8,613,990‌
13,000‌
FMC
Corp.
......................
1,190,280‌
145,000‌
GCP
Applied
Technologies
Inc.
†
.......
3,178,400‌
15,000‌
H.B.
Fuller
Co.
...................
968,400‌
63,500‌
International
Flavors
&
Fragrances
Inc.
..
8,491,220‌
2,800‌
Johnson
Matthey
plc
...............
101,298‌
450‌
Linde
plc
.......................
132,021‌
124,900‌
Sensient
Technologies
Corp.
.........
11,375,892‌
13,000‌
SGL
Carbon
SE
†
..................
141,852‌
2,000‌
The
Chemours
Co.
................
58,120‌
7
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Specialty
Chemicals
(Continued)
780‌
The
Sherwin-Williams
Co.
...........
$
218,189‌
44,331,520‌
Building
and
Construction
—
1
.9
%
27,000‌
Arcosa
Inc.
......................
1,354,590‌
18,000‌
Assa
Abloy
AB
,
Cl. B
...............
525,747‌
19,000‌
Canfor
Corp.
†
....................
417,322‌
4,000‌
Cie
de
Saint-Gobain
................
269,849‌
65,000‌
Fortune
Brands
Home
&
Security
Inc.
...
5,812,300‌
22,000‌
Gencor
Industries
Inc.
†
.............
244,200‌
82,448‌
Herc
Holdings
Inc.
†
................
13,476,950‌
35,200‌
Ibstock
plc
(b)
....................
98,177‌
215,814‌
Johnson
Controls
International
plc
.....
14,692,617‌
17,200‌
KBR
Inc.
.......................
677,680‌
20,000‌
PGT
Innovations
Inc.
†
..............
382,000‌
12,000‌
Sika
AG
........................
3,821,665‌
3,000‌
Vulcan
Materials
Co.
...............
507,480‌
42,280,577‌
Telecommunications
—
1
.6
%
55,000‌
AT&T
Inc.
.......................
1,485,550‌
55,400‌
BCE
Inc.
........................
2,773,324‌
874,200‌
BT
Group
plc
,
Cl. A
†
...............
1,882,280‌
7,040,836‌
Cable
&
Wireless
Jamaica
Ltd.
†
(c)
.....
55,293‌
8,000‌
Comtech
Telecommunications
Corp.
....
204,880‌
29,180‌
Deutsche
Telekom
AG
..............
587,996‌
125,000‌
Deutsche
Telekom
AG
,
ADR
..........
2,518,750‌
36,000‌
Hellenic
Telecommunications
Organization
SA
..........................
676,384‌
15,000‌
Hellenic
Telecommunications
Organization
SA
,
ADR
......................
138,600‌
264,732‌
Koninklijke
KPN
NV
................
832,561‌
70,000‌
Loral
Space
&
Communications
Inc.
....
3,010,700‌
47,500‌
Lumen
Technologies
Inc.
............
588,525‌
1,100,000‌
NII
Holdings
Inc.,
Escrow
†
...........
330,000‌
16,000‌
Oi
SA
,
ADR
†
.....................
4,640‌
4,267‌
Oi
SA
,
Cl. C
†
....................
3,853‌
4,500‌
SoftBank
Group
Corp.
..............
262,006‌
21,000‌
Telecom
Argentina
SA
,
ADR
..........
103,950‌
535,000‌
Telecom
Italia
SpA
................
210,332‌
70,000‌
Telefonica
Brasil
SA
,
ADR
...........
543,200‌
355,000‌
Telefonica
SA
,
ADR
................
1,672,050‌
525,000‌
Telephone
and
Data
Systems
Inc.
......
10,237,500‌
105,000‌
Telesites
SAB
de
CV
†
...............
90,393‌
50,000‌
TELUS
Corp.
....................
1,099,005‌
46,075‌
TIM
SA
,
ADR
....................
494,845‌
76,000‌
VEON
Ltd.
,
ADR
†
.................
158,080‌
98,000‌
Verizon
Communications
Inc.
.........
5,292,980‌
174,000‌
Vodafone
Group
plc
...............
265,629‌
Shares
Market
Value
84,800‌
Vodafone
Group
plc
,
ADR
...........
$
1,310,160‌
36,833,466‌
Hotels
and
Gaming
—
1
.6
%
73,500‌
888
Holdings
plc
..................
425,846‌
16,000‌
Accor
SA
†
......................
573,615‌
8,000‌
Bally's
Corp.
†
....................
401,120‌
11,000‌
Better
Collective
A/S
†
..............
234,214‌
90,500‌
Entain
plc
†
......................
2,597,316‌
2,000‌
Frontier
Developments
plc
†
..........
66,022‌
18,853‌
Gambling.com
Group
Ltd.
†
..........
172,128‌
53,700‌
GAN
Ltd.
†
......................
798,519‌
25,000‌
Genius
Sports
Ltd.
†
...............
466,500‌
7,000‌
Hyatt
Hotels
Corp.
,
Cl. A
†
...........
539,700‌
17,000‌
Las
Vegas
Sands
Corp.
†
............
622,200‌
104,000‌
LeoVegas
AB
(b)
..................
406,762‌
4,408,500‌
Mandarin
Oriental
International
Ltd.
†
...
9,213,765‌
11,000‌
Marriott
International
Inc.
,
Cl. A
†
......
1,628,990‌
70,000‌
MGM
China
Holdings
Ltd.
†
..........
43,521‌
54,400‌
MGM
Growth
Properties
LLC
,
Cl. A,
REIT
2,083,520‌
80,000‌
MGM
Resorts
International
..........
3,452,000‌
6,000‌
Penn
National
Gaming
Inc.
†
..........
434,760‌
25,000‌
PlayAGS
Inc.
†
...................
197,000‌
119,800‌
Ryman
Hospitality
Properties
Inc.
,
REIT
†
.
10,027,260‌
200,000‌
The
Hongkong
&
Shanghai
Hotels
Ltd.
†
.
187,292‌
44,000‌
The
Marcus
Corp.
†
................
767,800‌
4,000‌
Wyndham
Hotels
&
Resorts
Inc.
.......
308,760‌
6,000‌
Wynn
Resorts
Ltd.
†
...............
508,500‌
36,157,110‌
Aerospace
and
Defense
—
1
.6
%
159,300‌
Aerojet
Rocketdyne
Holdings
Inc.
......
6,937,515‌
1,400‌
Airbus
SE
†
......................
186,657‌
17,000‌
Avio
SpA
.......................
214,248‌
22,000‌
BAE
Systems
plc
..................
167,541‌
14,000‌
Howmet
Aerospace
Inc.
.............
436,800‌
300‌
IQVIA
Holdings
Inc.
†
...............
71,862‌
47,700‌
Kaman
Corp.
....................
1,701,459‌
1,000‌
Kratos
Defense
&
Security
Solutions
Inc.
†
22,310‌
13,000‌
L3Harris
Technologies
Inc.
...........
2,863,120‌
17,500‌
Northrop
Grumman
Corp.
...........
6,302,625‌
3,915,666‌
Rolls-Royce
Holdings
plc
†
...........
7,393,742‌
2,500‌
Thales
SA
......................
243,717‌
42,000‌
The
Boeing
Co.
†
..................
9,237,480‌
35,779,076‌
Aviation:
Parts
and
Services
—
0
.9
%
12,000‌
Astronics
Corp.
†
..................
168,720‌
155,300‌
Curtiss-Wright
Corp.
...............
19,595,754‌
19,764,474‌
Real
Estate
—
0
.8
%
8,000‌
Bresler
&
Reiner
Inc.
†
..............
249‌
10,267‌
Gaming
and
Leisure
Properties
Inc.
,
REIT
475,567‌
8
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Real
Estate
(Continued)
57,876‌
Indus
Realty
Trust
Inc.
,
REIT
.........
$
4,057,108‌
17,000‌
Rayonier
Inc.
,
REIT
................
606,560‌
320,000‌
The
St.
Joe
Co.
...................
13,472,000‌
10,000‌
Weyerhaeuser
Co.
,
REIT
............
355,700‌
18,967,184‌
Metals
and
Mining
—
0
.7
%
37,400‌
Agnico
Eagle
Mines
Ltd.
............
1,939,190‌
22,000‌
Alliance
Resource
Partners
LP
........
239,140‌
50,000‌
Barrick
Gold
Corp.
................
902,500‌
30,000‌
Cleveland-Cliffs
Inc.
†
...............
594,300‌
113,000‌
Freeport-McMoRan
Inc.
.............
3,675,890‌
25,239‌
Livent
Corp.
†
....................
583,273‌
4,300‌
Materion
Corp.
...................
295,152‌
50,000‌
New
Hope
Corp.
Ltd.
...............
86,754‌
142,000‌
Newmont
Corp.
..................
7,710,600‌
62,000‌
TimkenSteel
Corp.
†
................
810,960‌
10,000‌
Vale
SA
,
ADR
....................
139,500‌
16,977,259‌
Automotive
—
0
.7
%
2,100‌
Daimler
AG
.....................
186,624‌
164,500‌
General
Motors
Co.
†
...............
8,670,795‌
70,000‌
PACCAR
Inc.
....................
5,524,400‌
20,000‌
Stellantis
NV
....................
382,000‌
8,000‌
The
Shyft
Group
Inc.
...............
304,080‌
1,820‌
Toyota
Motor
Corp.
,
ADR
............
323,505‌
30,000‌
Traton
SE
.......................
771,461‌
16,162,865‌
Transportation
—
0
.6
%
22,500‌
Fortress
Transportation
and
Infrastructure
Investors
LLC
..................
571,050‌
130,200‌
GATX
Corp.
.....................
11,660,712‌
17,500‌
TravelCenters
of
America
Inc.
†
........
871,325‌
13,103,087‌
Agriculture
—
0
.5
%
196,000‌
Archer-Daniels-Midland
Co.
..........
11,761,960‌
10,000‌
The
Mosaic
Co.
...................
357,200‌
12,119,160‌
Communications
Equipment
—
0
.5
%
16,150‌
Apple
Inc.
......................
2,285,225‌
1,000‌
Arista
Networks
Inc.
†
..............
343,640‌
228,000‌
Corning
Inc.
.....................
8,319,720‌
100,000‌
Limelight
Networks
Inc.
†
............
238,000‌
1,200‌
Motorola
Solutions
Inc.
.............
278,784‌
2,500‌
QUALCOMM
Inc.
.................
322,450‌
12,500‌
Telefonaktiebolaget
LM
Ericsson
,
Cl. B
..
141,500‌
11,929,319‌
Shares
Market
Value
Wireless
Communications
—
0
.5
%
105,000‌
America
Movil
SAB
de
CV
,
Cl. L,
ADR
...
$
1,855,350‌
3,000‌
Anterix
Inc.
†
.....................
182,100‌
58,000‌
Millicom
International
Cellular
SA
,
SDR
†
.
2,107,489‌
28,707‌
T-Mobile
US
Inc.
†
.................
3,667,606‌
105,400‌
United
States
Cellular
Corp.
†
.........
3,361,206‌
11,173,751‌
Publishing
—
0
.4
%
1,400‌
Graham
Holdings
Co.
,
Cl. B
..........
824,824‌
50,000‌
Meredith
Corp.
†
..................
2,785,000‌
105,000‌
News
Corp.
,
Cl. A
.................
2,470,650‌
90,600‌
News
Corp.
,
Cl. B
.................
2,104,638‌
70,000‌
The
E.W.
Scripps
Co.
,
Cl. A
..........
1,264,200‌
9,449,312‌
Manufactured
Housing
and
Recreational
Vehicles
—
0
.3
%
2,150‌
Cavco
Industries
Inc.
†
..............
508,991‌
11,514‌
Legacy
Housing
Corp.
†
.............
206,907‌
5,000‌
Martin
Marietta
Materials
Inc.
.........
1,708,400‌
33,600‌
Nobility
Homes
Inc.
................
1,192,800‌
42,000‌
Skyline
Champion
Corp.
†
............
2,522,520‌
2,500‌
The
AZEK
Co.
Inc.
†
................
91,325‌
6,230,943‌
Semiconductors
—
0
.1
%
4,500‌
Advanced
Micro
Devices
Inc.
†
........
463,050‌
1,000‌
Analog
Devices
Inc.
................
167,480‌
880‌
Applied
Materials
Inc.
..............
113,283‌
230‌
ASML
Holding
NV
.................
171,375‌
1,200‌
Axcelis
Technologies
Inc.
†
...........
56,436‌
220‌
Lam
Research
Corp.
...............
125,213‌
1,000‌
NXP
Semiconductors
NV
............
195,870‌
3,000‌
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
,
ADR
.....................
334,950‌
1,627,657‌
Computer
Hardware
—
0
.1
%
11,000‌
Dell
Technologies
Inc.
,
Cl. C
†
.........
1,144,440‌
5,500‌
HP
Inc.
........................
150,480‌
1,294,920‌
TOTAL
COMMON
STOCKS
...........
2,100,105,467‌
CLOSED-END
FUNDS
—
0
.4
%
245,000‌
Altaba
Inc.,
Escrow
†
...............
1,610,875‌
4,285‌
Royce
Global
Value
Trust
Inc.
.........
66,203‌
45,000‌
Royce
Value
Trust
Inc.
..............
810,900‌
96,964‌
The
Central
Europe,
Russia,
and
Turkey
Fund
Inc.
.............
2,799,351‌
159,600‌
The
New
Germany
Fund
Inc.
.........
3,152,100‌
8,439,429‌
TOTAL
CLOSED-END
FUNDS
.........
8,439,429‌
9
The
Gabelli
Equity
Trust
Inc.
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
PREFERRED
STOCKS
—
0.0
%
Consumer
Services
—
0.0
%
5,250‌
Qurate
Retail
Inc.
,
8.000
%
,
03/15/31
....
$
567,787‌
CONVERTIBLE
PREFERRED
STOCKS
—
0.0
%
Automotive:
Parts
and
Accessories
—
0.0
%
37,672‌
Garrett
Motion
Inc.
,
Ser.
A
,
11.000
%
.....................
310,794‌
RIGHTS
—
0.0
%
Environmental
Services
—
0.0
%
8,000‌
Veolia
Environnement
SA
,
expire
10/01/21
†
.....................
6,654‌
Entertainment
—
0.0
%
139,123‌
Media
General
Inc.
,
CVR
†
(c)
.........
0‌
TOTAL
RIGHTS
...................
6,654‌
WARRANTS
—
0.0
%
Diversified
Industrial
—
0.0
%
379,000‌
Ampco-Pittsburgh
Corp.
,
expire
08/01/25
†
327,665‌
Financial
Services
—
0.0
%
150,000‌
Post
Holdings
Partnering
Corp.
,
expire
02/09/23
†
.....................
135,000‌
Energy
and
Utilities
—
0.0
%
2,504‌
Occidental
Petroleum
Corp.
,
expire
08/03/27
†
.....................
29,672‌
TOTAL
WARRANTS
................
492,337‌
Principal
Amount
CONVERTIBLE
CORPORATE
BONDS
—
0.0
%
Financial
Services
—
0.0
%
$
7,000‌
Credit
Suisse
Group
Guernsey
VII
Ltd.
,
3.000
%
,
11/12/21
(b)
.............
8,093‌
Principal
Amount
Market
Value
U.S.
GOVERNMENT
OBLIGATIONS
—
6
.5
%
$
92,620,000‌
U.S.
Cash
Management
Bills,
0.040
%
††
,
10/26/21
.............
$
92,617,105‌
53,972,000‌
U.S.
Treasury
Bills,
0.013
%
to
0.058
%
††
,
10/07/21
to
03/24/22
......................
53,969,434‌
TOTAL
U.S.
GOVERNMENT
OBLIGATIONS
146,586,539‌
TOTAL
INVESTMENTS
—
100
.0
%
.....
(Cost
$
1,333,630,248
)
............
$
2,256,517,100‌
(a)
Securities,
or
a
portion
thereof,
with
a
value
of
$80,415,800
were
pledged
as
collateral
for
futures
contracts.
(b)
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(c)
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(s)
at
date(s)
of
purchase.
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Right
REIT
Real
Estate
Investment
Trust
SDR
Swedish
Depositary
Receipt
Geographic
Diversification
%
of
Total
Investments
Market
Value
North
America
......................
83
.1‌
%
$
1,874,632,700‌
Europe
..............................
13
.9‌
313,957,425‌
Japan
...............................
1
.4‌
31,100,311‌
Latin
America
.......................
1
.1‌
24,646,635‌
Asia/Pacific
.........................
0
.5‌
12,180,029‌
Total
Investments
...................
100.0‌%
$
2,256,517,100‌
As
of
September
30,
2021,
futures
contracts
outstanding
were
as
follows:
Description
Long/Short
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
Unrealized
Appreciation
S&P
500
Futures
(E-Mini)
Short
65
12/17/21
$
13,967,688
$
524,875
$
524,875
TOTAL
FUTURES
$524,875