NPORT-EX 2 GB601GB033123.htm

1

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

 —

98.0%

Food

and

Beverage

 —

11.6%

3,000‌

Ajinomoto

Co.

Inc.

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

$

104,071‌

2,100‌

Anheuser-Busch

InBev

SA/NV

........

139,676‌

25,356‌

BellRing

Brands

Inc.†

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

862,104‌

94,300‌

Brown-Forman

Corp.,

Cl. A

..........

6,147,417‌

49,300‌

Brown-Forman

Corp.,

Cl. B

..........

3,168,511‌

32,500‌

Campbell

Soup

Co.

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

1,786,850‌

36,000‌

Chr.

Hansen

Holding

A/S

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

2,730,389‌

86,800‌

ChromaDex

Corp.†

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

132,804‌

15,000‌

Coca-Cola

Europacific

Partners

plc

.....

887,850‌

50,000‌

Conagra

Brands

Inc.

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

1,878,000‌

26,200‌

Constellation

Brands

Inc.,

Cl. A

........

5,918,318‌

25,000‌

Crimson

Wine

Group

Ltd.†

...........

153,750‌

190,500‌

Danone

SA

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

11,840,088‌

850,000‌

Davide

Campari-Milano

NV

..........

10,370,531‌

4,250‌

Diageo

plc

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

189,475‌

144,000‌

Diageo

plc,

ADR

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

26,089,920‌

68,083‌

Farmer

Brothers

Co.†

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

262,800‌

90,000‌

Flowers

Foods

Inc.

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

2,466,900‌

83,500‌

Fomento

Economico

Mexicano

SAB

de

CV,

ADR

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

7,948,365‌

15,000‌

General

Mills

Inc.

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

1,281,900‌

20,000‌

Glanbia

plc

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

289,778‌

1,848,400‌

Grupo

Bimbo

SAB

de

CV,

Cl. A

........

9,291,236‌

43,050‌

Heineken

NV

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

4,624,886‌

10,000‌

Ingredion

Inc.

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

1,017,300‌

105,000‌

ITO

EN

Ltd.

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

3,420,260‌

57,200‌

Kerry

Group

plc,

Cl. A

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

5,707,073‌

2,000‌

Kerry

Group

plc,

Cl. A

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

199,201‌

2,100‌

Laurent-Perrier

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

271,017‌

9,550‌

LVMH

Moet

Hennessy

Louis

Vuitton

SE

..

8,745,430‌

45,000‌

Maple

Leaf

Foods

Inc.

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

870,699‌

40,000‌

Molson

Coors

Beverage

Co.,

Cl. B

......

2,067,200‌

221,500‌

Mondelēz

International

Inc.,

Cl. A

......

15,442,980‌

14,000‌

Morinaga

Milk

Industry

Co.

Ltd.

.......

502,956‌

41,000‌

Nestlé

SA

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

4,994,656‌

21,000‌

Nomad

Foods

Ltd.†

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

393,540‌

124,500‌

PepsiCo

Inc.

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

22,696,350‌

39,200‌

Pernod

Ricard

SA

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

8,872,338‌

35,000‌

Post

Holdings

Inc.†

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

3,145,450‌

40,000‌

Remy

Cointreau

SA

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

7,287,840‌

3,000‌

The

Boston

Beer

Co.

Inc.,

Cl. A†

.......

986,100‌

70,000‌

The

Coca-Cola

Co.

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

4,342,100‌

70,000‌

The

Hain

Celestial

Group

Inc.†

........

1,200,500‌

27,000‌

The

J.M.

Smucker

Co.

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

4,248,990‌

126,000‌

The

Kraft

Heinz

Co.

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

4,872,420‌

42,230‌

Tootsie

Roll

Industries

Inc.

...........

1,896,549‌

14,000‌

TreeHouse

Foods

Inc.†

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

706,020‌

40,000‌

Tyson

Foods

Inc.,

Cl. A

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

2,372,800‌

Shares

Market

Value

332,000‌

Yakult

Honsha

Co.

Ltd.

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

$

24,079,533‌

228,904,921‌

Financial

Services

 —

11.2%

19,500‌

Aegon

NV

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

83,555‌

250‌

Affiliated

Managers

Group

Inc.

........

35,605‌

10,600‌

Ally

Financial

Inc.

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

270,194‌

277,600‌

American

Express

Co.

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

45,790,120‌

22,500‌

Apollo

Global

Management

Inc.

.......

1,421,100‌

14,000‌

Argo

Group

International

Holdings

Ltd.

..

410,060‌

60,000‌

Avation

plc

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

87,709‌

6,500‌

Axis

Capital

Holdings

Ltd.

...........

354,380‌

28,400‌

Banco

Bilbao

Vizcaya

Argentaria

SA

....

202,386‌

75,000‌

Banco

Santander

SA,

ADR

...........

276,750‌

60,000‌

Bank

of

America

Corp.

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

1,716,000‌

33,000‌

Barclays

plc

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

59,353‌

103‌

Berkshire

Hathaway

Inc.,

Cl. A†

.......

47,956,800‌

3,250‌

Berkshire

Hathaway

Inc.,

Cl. B†

.......

1,003,503‌

210‌

BlackRock

Inc.

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

140,515‌

45,500‌

Blackstone

Inc.

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

3,996,720‌

120,000‌

Blue

Owl

Capital

Inc.

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

1,329,600‌

1,750‌

Brookfield

Asset

Management

Ltd.,

Cl. A

.

57,260‌

7,000‌

Brookfield

Corp.

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

228,130‌

3,670‌

Capital

One

Financial

Corp.

...........

352,907‌

109,133‌

Cipher

Mining

Inc.†

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

254,280‌

139,670‌

Citigroup

Inc.

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

6,549,126‌

7,000‌

Commerzbank

AG†

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

73,653‌

39,000‌

Compass

Diversified

Holdings

........

744,120‌

11,245‌

Credit

Agricole

SA

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

126,806‌

5,000‌

Cullen/Frost

Bankers

Inc.

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

526,700‌

153,600‌

Dah

Sing

Banking

Group

Ltd.

.........

117,599‌

105,500‌

Dah

Sing

Financial

Holdings

Ltd.

......

270,809‌

52,900‌

Daiwa

Securities

Group

Inc.

..........

247,418‌

30,000‌

Deutsche

Bank

AG

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

306,300‌

966‌

Diamond

Hill

Investment

Group

Inc.

....

158,984‌

72,560‌

DigitalBridge

Group

Inc.

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

869,994‌

488‌

E-L

Financial

Corp.

Ltd.

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

327,865‌

2,400‌

EXOR

NV†

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

197,396‌

5,000‌

Federated

Hermes

Inc.

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

200,700‌

4,700‌

First

American

Financial

Corp.

........

261,602‌

122‌

First

Citizens

BancShares

Inc.,

Cl. A

....

118,718‌

13,600‌

Flushing

Financial

Corp.

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

202,504‌

14,000‌

Franklin

Resources

Inc.

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

377,160‌

50,000‌

GAM

Holding

AG†

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

30,384‌

10,000‌

Hannon

Armstrong

Sustainable

Infrastructure

Capital

Inc.,

REIT

......

286,000‌

5,000‌

Icahn

Enterprises

LP

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

258,550‌

18,600‌

ING

Groep

NV

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

220,477‌

47,000‌

Interactive

Brokers

Group

Inc.,

Cl. A

....

3,880,320‌

88,000‌

Janus

Henderson

Group

plc

..........

2,344,320‌

12,800‌

Japan

Post

Bank

Co.

Ltd.

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

104,405‌

88,000‌

Jefferies

Financial

Group

Inc.

.........

2,793,120‌

2

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Financial

Services

(Continued)

35,400‌

JPMorgan

Chase

&

Co.

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

$

4,612,974‌

5,000‌

Julius

Baer

Group

Ltd.

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

340,565‌

29,800‌

Kinnevik

AB,

Cl. A†

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

484,081‌

14,000‌

Loews

Corp.

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

812,280‌

66,000‌

Marsh

&

McLennan

Companies

Inc.

....

10,992,300‌

2,600‌

Moelis

&

Co.,

Cl. A

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

99,944‌

9,250‌

Moody's

Corp.

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

2,830,685‌

26,619‌

Morgan

Stanley

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

2,337,148‌

240‌

MSCI

Inc.

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

134,326‌

76,035‌

NatWest

Group

plc

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

247,248‌

127,500‌

New

York

Community

Bancorp

Inc.

.....

1,152,600‌

9,020‌

NN

Group

NV

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

327,312‌

32,000‌

Polar

Capital

Holdings

plc

...........

178,625‌

75,000‌

Post

Holdings

Partnering

Corp.†

.......

765,750‌

320,000‌

Post

Holdings

Partnering

Corp.,

Cl. A†

..

3,238,400‌

6,000‌

Prosus

NV

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

468,114‌

55,000‌

S&P

Global

Inc.

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

18,962,350‌

55,000‌

Sculptor

Capital

Management

Inc.

......

473,550‌

12,050‌

Shinhan

Financial

Group

Co.

Ltd.,

ADR

..

324,627‌

1,100‌

Silvercrest

Asset

Management

Group

Inc.,

Cl. A

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

19,998‌

2,500‌

Societe

Generale

SA

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

56,353‌

45,000‌

Standard

Chartered

plc

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

340,955‌

118,400‌

State

Street

Corp.

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

8,961,696‌

86,700‌

T.

Rowe

Price

Group

Inc.

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

9,788,430‌

150,650‌

The

Bank

of

New

York

Mellon

Corp.

....

6,845,536‌

46,150‌

The

Charles

Schwab

Corp.

...........

2,417,337‌

9,100‌

The

Goldman

Sachs

Group

Inc.

.......

2,976,701‌

42,500‌

The

Westaim

Corp.†

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

92,767‌

17,000‌

Truist

Financial

Corp.

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

579,700‌

10,800‌

TrustCo

Bank

Corp.

NY

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

344,952‌

14,800‌

UniCredit

SpA

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

279,441‌

30,000‌

W.

R.

Berkley

Corp.

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

1,867,800‌

1,900‌

Webster

Financial

Corp.

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

74,898‌

218,500‌

Wells

Fargo

&

Co.

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

8,167,530‌

20,448‌

Westwood

Holdings

Group

Inc.

.......

229,222‌

219,448,152‌

Equipment

and

Supplies

 —

7.9%

333,000‌

AMETEK

Inc.

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

48,394,890‌

14,000‌

Amphenol

Corp.,

Cl. A

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

1,144,080‌

25,000‌

Ardagh

Group

SA†

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

255,000‌

8,000‌

Ardagh

Metal

Packaging

SA

..........

32,640‌

124,691‌

CIRCOR

International

Inc.†

..........

3,880,384‌

2,400‌

Crown

Holdings

Inc.

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

198,504‌

1,395‌

Danaher

Corp.

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

351,596‌

294,000‌

Donaldson

Co.

Inc.

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

19,209,960‌

22,000‌

DS

Smith

plc

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

85,353‌

159,300‌

Flowserve

Corp.

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

5,416,200‌

36,700‌

Franklin

Electric

Co.

Inc.

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

3,453,470‌

Shares

Market

Value

15,500‌

Hubbell

Inc.

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

$

3,771,305‌

128,000‌

IDEX

Corp.

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

29,571,840‌

30,000‌

Ilika

plc†

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

15,173‌

15,525‌

Kimball

Electronics

Inc.†

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

374,153‌

97,500‌

Mueller

Industries

Inc.

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

7,164,300‌

120,000‌

Mueller

Water

Products

Inc.,

Cl. A

.....

1,672,800‌

8,000‌

Sealed

Air

Corp.

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

367,280‌

20,000‌

Tenaris

SA,

ADR

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

568,400‌

270,000‌

The

L.S.

Starrett

Co.,

Cl. A†

..........

3,029,400‌

80,000‌

The

Timken

Co.

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

6,537,600‌

59,600‌

The

Weir

Group

plc

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

1,366,784‌

103,500‌

Watts

Water

Technologies

Inc.,

Cl. A

....

17,421,120‌

154,282,232‌

Diversified

Industrial

 —

6.0%

500‌

Agilent

Technologies

Inc.

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

69,170‌

418,844‌

Ampco-Pittsburgh

Corp.†

...........

1,026,168‌

42,006‌

AZZ

Inc.

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

1,732,327‌

159,100‌

Crane

Holdings

Co.

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

18,057,850‌

4,999‌

Esab

Corp.

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

295,291‌

28,875‌

General

Electric

Co.

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

2,760,450‌

123,000‌

Greif

Inc.,

Cl. A

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

7,794,510‌

13,000‌

Greif

Inc.,

Cl. B

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

994,760‌

65,000‌

Griffon

Corp.

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

2,080,650‌

147,000‌

Honeywell

International

Inc.

..........

28,094,640‌

29,119‌

Ingersoll

Rand

Inc.

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

1,694,143‌

87,000‌

ITT

Inc.

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

7,508,100‌

35,000‌

Kennametal

Inc.

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

965,300‌

50,000‌

Myers

Industries

Inc.

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

1,071,500‌

30,000‌

nVent

Electric

plc

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

1,288,200‌

100,000‌

Park-Ohio

Holdings

Corp.

...........

1,208,000‌

9,454‌

Proto

Labs

Inc.†

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

313,400‌

1,600‌

Rheinmetall

AG

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

474,751‌

500‌

Roper

Technologies

Inc.

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

220,345‌

1,850‌

Siemens

AG

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

299,464‌

514,000‌

Steel

Partners

Holdings

LP†

..........

22,559,203‌

11,000‌

Sulzer

AG

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

931,144‌

79,000‌

Textron

Inc.

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

5,579,770‌

2,867‌

The

Eastern

Co.

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

55,849‌

100,000‌

Toray

Industries

Inc.

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

569,686‌

33,000‌

Trane

Technologies

plc

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

6,071,340‌

28,000‌

Tredegar

Corp.

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

255,640‌

90,000‌

Trinity

Industries

Inc.

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

2,192,400‌

4,000‌

Valmont

Industries

Inc.

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

1,277,120‌

117,441,171‌

Health

Care

 —

5.0%

1,000‌

10X

Genomics

Inc.,

Cl. A†

...........

55,790‌

9,600‌

2seventy

bio

Inc.†

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

97,920‌

3,500‌

Abbott

Laboratories

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

354,410‌

3,550‌

AbbVie

Inc.

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

565,763‌

5,000‌

ACADIA

Pharmaceuticals

Inc.†

........

94,100‌

16,200‌

Alcon

Inc.

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

1,142,748‌

3

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Health

Care

(Continued)

500‌

Align

Technology

Inc.†

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

$

167,070‌

4,000‌

Alimera

Sciences

Inc.†

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

8,280‌

6,500‌

AmerisourceBergen

Corp.

...........

1,040,715‌

25,000‌

Amgen

Inc.

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

6,043,750‌

2,764‌

Anika

Therapeutics

Inc.†

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

79,382‌

1,000‌

Avantor

Inc.†

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

21,140‌

76,309‌

Axogen

Inc.†

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

721,120‌

12,000‌

Bausch

+

Lomb

Corp.†

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

208,920‌

14,000‌

Baxter

International

Inc.

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

567,840‌

1,000‌

Becton

Dickinson

&

Co.

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

247,540‌

6,800‌

Biogen

Inc.†

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

1,890,604‌

3,600‌

BioMarin

Pharmaceutical

Inc.†

........

350,064‌

800‌

Bio-Rad

Laboratories

Inc.,

Cl. A†

......

383,216‌

16,000‌

Bluebird

Bio

Inc.†

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

50,880‌

120,000‌

Boston

Scientific

Corp.†

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

6,003,600‌

99,500‌

Bristol-Myers

Squibb

Co.

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

6,896,345‌

11,000‌

Cardiovascular

Systems

Inc.†

........

218,460‌

5,000‌

CareDx

Inc.†

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

45,700‌

400‌

Charles

River

Laboratories

International

Inc.†

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

80,728‌

11,500‌

Cutera

Inc.†

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

271,630‌

6,000‌

CVS

Group

plc

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

137,300‌

242,000‌

Demant

A/S†

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

8,461,994‌

2,280‌

Edwards

Lifesciences

Corp.†

.........

188,624‌

21,103‌

Electromed

Inc.†

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

219,471‌

300‌

Elevance

Health

Inc.

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

137,943‌

300‌

Eli

Lilly

&

Co.

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

103,026‌

80‌

Embecta

Corp.

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

2,250‌

3,667‌

Enovis

Corp.†

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

196,148‌

12,990‌

Exact

Sciences

Corp.†

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

880,852‌

3,100‌

Fresenius

SE

&

Co.

KGaA

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

83,544‌

9,000‌

GE

HealthCare

Technologies

Inc.†

......

738,270‌

1,390‌

Gerresheimer

AG

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

137,404‌

2,000‌

Gilead

Sciences

Inc.

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

165,940‌

12,701‌

Glaukos

Corp.†

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

636,320‌

2,275‌

Guardant

Health

Inc.†

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

53,326‌

30,000‌

Haleon

plc

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

119,166‌

2,300‌

HCA

Healthcare

Inc.

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

606,464‌

73,000‌

Henry

Schein

Inc.†

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

5,952,420‌

1,400‌

Hologic

Inc.†

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

112,980‌

3,400‌

Idorsia

Ltd.†

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

37,235‌

200‌

Illumina

Inc.†

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

46,510‌

7,300‌

Incyte

Corp.†

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

527,571‌

9,360‌

Indivior

plc†

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

159,919‌

1,374‌

Inogen

Inc.†

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

17,148‌

3,000‌

Integer

Holdings

Corp.†

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

232,500‌

3,000‌

Intellia

Therapeutics

Inc.†

...........

111,810‌

6,000‌

Intercept

Pharmaceuticals

Inc.†

.......

80,580‌

555‌

Intuitive

Surgical

Inc.†

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

141,786‌

1,200‌

iRhythm

Technologies

Inc.†

..........

148,836‌

Shares

Market

Value

24,100‌

Johnson

&

Johnson

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

$

3,735,500‌

2,000‌

Koninklijke

DSM

NV

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

235,770‌

400‌

Laboratory

Corp.

of

America

Holdings

...

91,768‌

2,000‌

LeMaitre

Vascular

Inc.

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

102,940‌

6,300‌

Medmix

AG

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

131,378‌

700‌

Medpace

Holdings

Inc.†

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

131,635‌

93,500‌

Merck

&

Co.

Inc.

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

9,947,465‌

200‌

Moderna

Inc.†

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

30,716‌

1,000‌

Natera

Inc.†

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

55,520‌

1,000‌

Neogen

Corp.†

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

18,520‌

5,000‌

NeoGenomics

Inc.†

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

87,050‌

121,203‌

Neuronetics

Inc.†

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

352,701‌

4,000‌

Nevro

Corp.†

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

144,600‌

1,275‌

Novartis

AG

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

116,721‌

77,500‌

Novartis

AG,

ADR

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

7,130,000‌

7,900‌

NuVasive

Inc.†

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

326,349‌

74,225‌

Option

Care

Health

Inc.†

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

2,358,128‌

5,000‌

OraSure

Technologies

Inc.†

..........

30,250‌

130‌

Organon

&

Co.

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

3,058‌

600‌

PerkinElmer

Inc.

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

79,956‌

28,000‌

Perrigo

Co.

plc

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

1,004,360‌

2,000‌

Pfizer

Inc.

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

81,600‌

1,200‌

PhenomeX

Inc.†

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

1,392‌

1,500‌

QIAGEN

NV†

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

68,895‌

500‌

Quest

Diagnostics

Inc.

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

70,740‌

5,500‌

QuidelOrtho

Corp.†

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

489,995‌

300‌

Repligen

Corp.†

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

50,508‌

390‌

Replimune

Group

Inc.†

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

6,887‌

1,200‌

Roche

Holding

AG,

Genusschein

.......

342,248‌

2,100‌

Sanofi

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

228,292‌

1,000‌

Siemens

Healthineers

AG

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

57,500‌

26,200‌

SmileDirectClub

Inc.†

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

11,266‌

3,000‌

Takeda

Pharmaceutical

Co.

Ltd.

.......

98,287‌

2,000‌

Tandem

Diabetes

Care

Inc.†

..........

81,220‌

3,000‌

Teva

Pharmaceutical

Industries

Ltd.,

ADR†

26,550‌

3,300‌

The

Cigna

Group

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

843,249‌

15,700‌

Tristel

plc

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

63,429‌

30,990‌

UnitedHealth

Group

Inc.

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

14,645,564‌

11,996‌

Valeritas

Holdings

Inc.†(a)

...........

0‌

5,760‌

Vericel

Corp.†

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

168,883‌

300‌

Vertex

Pharmaceuticals

Inc.†

.........

94,521‌

6,000‌

Viatris

Inc.

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

57,720‌

4,000‌

Waters

Corp.†

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

1,238,520‌

16,600‌

Zimmer

Biomet

Holdings

Inc.

.........

2,144,720‌

20,060‌

Zimvie

Inc.†

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

145,034‌

15,620‌

Zoetis

Inc.

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

2,599,793‌

608‌

Zosano

Pharma

Corp.†(a)

...........

0‌

97,776,250‌

Automotive:

Parts

and

Accessories

 —

4.7%

4,500‌

Aptiv

plc†

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

504,855‌

89,600‌

BorgWarner

Inc.

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

4,400,256‌

4

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Automotive:

Parts

and

Accessories

(Continued)

328,400‌

Dana

Inc.

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

$

4,942,420‌

151,000‌

Garrett

Motion

Inc.†

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

1,156,660‌

207,500‌

Genuine

Parts

Co.

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

34,716,825‌

300,500‌

Modine

Manufacturing

Co.†

..........

6,926,525‌

42,000‌

O'Reilly

Automotive

Inc.†

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

35,657,160‌

105,000‌

Standard

Motor

Products

Inc.

........

3,875,550‌

24,500‌

Strattec

Security

Corp.†

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

557,375‌

110,000‌

Superior

Industries

International

Inc.†

...

544,500‌

93,282,126‌

Entertainment

 —

4.3%

7,800‌

Activision

Blizzard

Inc.

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

667,602‌

19,358‌

Charter

Communications

Inc.,

Cl. A†

....

6,922,614‌

2,000‌

Electronic

Arts

Inc.

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

240,900‌

90,000‌

Genting

Singapore

Ltd.

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

75,744‌

1,092,000‌

Grupo

Televisa

SAB,

ADR

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

5,776,680‌

11,000‌

International

Game

Technology

plc

.....

294,800‌

98,000‌

Liberty

Media

Corp.-

Liberty

Braves,

Cl. A†

3,388,840‌

166,708‌

Liberty

Media

Corp.-

Liberty

Braves,

Cl. C†

5,616,393‌

10,000‌

Lions

Gate

Entertainment

Corp.,

Cl. B†

..

103,800‌

148,974‌

Madison

Square

Garden

Entertainment

Corp.†

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

8,799,894‌

98,167‌

Madison

Square

Garden

Sports

Corp.

...

19,127,840‌

2,170‌

Netflix

Inc.†

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

749,692‌

389,000‌

Paramount

Global,

Cl. A

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

10,051,760‌

42,000‌

Paramount

Global,

Cl. B

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

937,020‌

10,000‌

Take-Two

Interactive

Software

Inc.†

....

1,193,000‌

40,000‌

TBS

Holdings

Inc.

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

573,903‌

89,960‌

The

Walt

Disney

Co.†

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

9,007,695‌

60,000‌

Universal

Entertainment

Corp.†

.......

1,110,299‌

41,000‌

Universal

Music

Group

NV

...........

1,036,245‌

538,000‌

Vivendi

SE

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

5,426,187‌

276,447‌

Warner

Bros

Discovery

Inc.†

.........

4,174,350‌

1,700‌

Xilam

Animation

SA†

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

50,055‌

85,325,313‌

Energy

and

Utilities

 —

4.3%

47,000‌

APA

Corp.

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

1,694,820‌

24,000‌

Avangrid

Inc.

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

957,120‌

63,000‌

Baker

Hughes

Co.

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

1,818,180‌

21,000‌

BP

plc,

ADR

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

796,740‌

16,000‌

CMS

Energy

Corp.

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

982,080‌

176,100‌

ConocoPhillips

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

17,470,881‌

98,400‌

Enbridge

Inc.

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

3,753,960‌

76,000‌

Energy

Transfer

LP

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

947,720‌

73,700‌

Enterprise

Products

Partners

LP

.......

1,908,830‌

1,500‌

Eos

Energy

Enterprises

Inc.†

.........

3,855‌

46,500‌

Evergy

Inc.

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

2,842,080‌

38,500‌

Eversource

Energy

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

3,013,010‌

44,000‌

Exxon

Mobil

Corp.

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

4,825,040‌

215,000‌

Halliburton

Co.

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

6,802,600‌

Shares

Market

Value

35,000‌

Kinder

Morgan

Inc.

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

$

612,850‌

4,000‌

Marathon

Oil

Corp.

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

95,840‌

8,000‌

Marathon

Petroleum

Corp.

...........

1,078,640‌

50,000‌

National

Fuel

Gas

Co.

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

2,887,000‌

30,000‌

New

Fortress

Energy

Inc.

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

882,900‌

89,100‌

NextEra

Energy

Inc.

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

6,867,828‌

64,400‌

NextEra

Energy

Partners

LP

..........

3,912,300‌

4,000‌

Niko

Resources

Ltd.†

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

9‌

38,000‌

Occidental

Petroleum

Corp.

..........

2,372,340‌

95,000‌

Oceaneering

International

Inc.†

.......

1,674,850‌

90,000‌

PG&E

Corp.†

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

1,455,300‌

17,000‌

Phillips

66

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

1,723,460‌

25,000‌

Portland

General

Electric

Co.

.........

1,222,250‌

70,000‌

RPC

Inc.

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

538,300‌

87,500‌

Schlumberger

NV

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

4,296,250‌

47,000‌

Southwest

Gas

Holdings

Inc.

.........

2,935,150‌

106,000‌

The

AES

Corp.

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

2,552,480‌

34,000‌

UGI

Corp.

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

1,181,840‌

22,856‌

Vitesse

Energy

Inc.

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

434,950‌

3,300‌

Weatherford

International

plc†

........

195,855‌

84,737,308‌

Machinery

 —

4.2%

25,000‌

Astec

Industries

Inc.

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

1,031,250‌

12,800‌

Caterpillar

Inc.

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

2,929,152‌

361,010‌

CNH

Industrial

NV

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

5,512,623‌

135,000‌

Deere

&

Co.

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

55,738,800‌

14,291‌

Intevac

Inc.†

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

104,753‌

6,688‌

Regal

Rexnord

Corp.

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

941,202‌

147,000‌

Xylem

Inc.

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

15,390,900‌

81,648,680‌

Business

Services

 —

4.1%

10,000‌

Allegion

plc

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

1,067,300‌

425,000‌

Clear

Channel

Outdoor

Holdings

Inc.†

...

510,000‌

180,000‌

Diebold

Nixdorf

Inc.†

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

216,000‌

3,000‌

Edenred

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

177,446‌

16,000‌

Jardine

Matheson

Holdings

Ltd.

.......

777,120‌

11,000‌

Lamar

Advertising

Co.,

Cl. A,

REIT

.....

1,098,790‌

154,230‌

Mastercard

Inc.,

Cl. A

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

56,048,725‌

114,000‌

Network

International

Holdings

plc†

....

344,263‌

85,000‌

Paysafe

Ltd.†

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

1,467,950‌

10,000‌

Pitney

Bowes

Inc.

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

38,900‌

10,000‌

Rentokil

Initial

plc,

ADR

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

365,100‌

155,000‌

Resideo

Technologies

Inc.†

..........

2,833,400‌

1,226,294‌

Steel

Connect

Inc.†

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

1,397,975‌

16,000‌

The

Brink's

Co.

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

1,068,800‌

207,500‌

The

Interpublic

Group

of

Companies

Inc.

.

7,727,300‌

10,000‌

United

Parcel

Service

Inc.,

Cl. B

.......

1,939,900‌

13,500‌

Visa

Inc.,

Cl. A

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

3,043,710‌

25,000‌

Willdan

Group

Inc.†

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

390,500‌

5

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Business

Services

(Continued)

5,200‌

Worldline

SA†

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

$

220,557‌

80,733,736‌

Electronics

 —

2.9%

46,000‌

Arlo

Technologies

Inc.†

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

278,760‌

40,600‌

Bel

Fuse

Inc.,

Cl. A

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

1,474,592‌

62,991‌

Bel

Fuse

Inc.,

Cl. B

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

2,367,202‌

2,000‌

CTS

Corp.

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

98,920‌

118,000‌

Flex

Ltd.†

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

2,715,180‌

4,000‌

Hitachi

Ltd.,

ADR

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

439,800‌

56,500‌

Intel

Corp.

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

1,845,855‌

33,000‌

Koninklijke

Philips

NV

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

605,550‌

1,300‌

Mettler-Toledo

International

Inc.†

......

1,989,273‌

265,000‌

Mirion

Technologies

Inc.†

...........

2,263,100‌

55,000‌

Plug

Power

Inc.†

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

644,600‌

28,000‌

Sony

Group

Corp.,

ADR

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

2,538,200‌

40,000‌

TE

Connectivity

Ltd.

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

5,246,000‌

182,200‌

Texas

Instruments

Inc.

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

33,891,022‌

680‌

Thermo

Fisher

Scientific

Inc.

.........

391,931‌

1,000‌

Universal

Display

Corp.

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

155,130‌

5,000‌

Vishay

Precision

Group

Inc.†

.........

208,800‌

57,153,915‌

Consumer

Services

 —

2.7%

16,650‌

Amazon.com

Inc.†

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

1,719,779‌

383,500‌

Bollore

SE

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

2,366,504‌

2,000‌

Deutsche

Post

AG

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

93,462‌

11,000‌

eBay

Inc.

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

488,070‌

36,200‌

IAC

Inc.†

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

1,867,920‌

58,900‌

Matthews

International

Corp.,

Cl. A

.....

2,123,934‌

1,140,000‌

Rollins

Inc.

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

42,784,200‌

4,000‌

Travel

+

Leisure

Co.

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

156,800‌

727,739‌

Vroom

Inc.†

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

654,019‌

52,254,688‌

Retail

 —

2.6%

56,500‌

AutoNation

Inc.†

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

7,591,340‌

5,000‌

Beacon

Roofing

Supply

Inc.†

.........

294,250‌

5,000‌

Casey's

General

Stores

Inc.

..........

1,082,300‌

70‌

Chipotle

Mexican

Grill

Inc.†

..........

119,580‌

16,000‌

Copart

Inc.†

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

1,203,360‌

33,390‌

Costco

Wholesale

Corp.

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

16,590,489‌

93,900‌

CVS

Health

Corp.

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

6,977,709‌

17,000‌

Lowe's

Companies

Inc.

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

3,399,490‌

125,000‌

Macy's

Inc.

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

2,186,250‌

1,500‌

Petco

Health

&

Wellness

Co.

Inc.†

.....

13,500‌

113,767‌

PetIQ

Inc.†

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

1,301,494‌

15,000‌

Pets

at

Home

Group

plc

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

68,280‌

135,000‌

Qurate

Retail

Inc.,

Cl. A†

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

133,353‌

35,000‌

Sally

Beauty

Holdings

Inc.†

..........

545,300‌

20,000‌

Shake

Shack

Inc.,

Cl. A†

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

1,109,800‌

Shares

Market

Value

1,350‌

Starbucks

Corp.

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

$

140,576‌

117,000‌

The

Wendy's

Co.

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

2,548,260‌

60,000‌

Walgreens

Boots

Alliance

Inc.

........

2,074,800‌

30,000‌

Walmart

Inc.

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

4,423,500‌

51,803,631‌

Environmental

Services

 —

2.6%

4,000‌

Clean

Harbors

Inc.†

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

570,240‌

25,000‌

Darling

Ingredients

Inc.†

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

1,460,000‌

30,000‌

Pentair

plc

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

1,658,100‌

211,000‌

Republic

Services

Inc.

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

28,531,420‌

15,620‌

Veolia

Environnement

SA

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

481,093‌

106,100‌

Waste

Management

Inc.

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

17,312,337‌

29,500‌

Zurn

Elkay

Water

Solutions

Corp.

......

630,120‌

50,643,310‌

Cable

and

Satellite

 —

2.3%

45,000‌

AMC

Networks

Inc.,

Cl. A†

...........

791,100‌

215,980‌

Comcast

Corp.,

Cl. A

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

8,187,802‌

133,642‌

DISH

Network

Corp.,

Cl. A†

..........

1,246,880‌

109,141‌

EchoStar

Corp.,

Cl. A†

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

1,996,189‌

147,605‌

Liberty

Global

plc,

Cl. A†

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

2,878,297‌

349,064‌

Liberty

Global

plc,

Cl. C†

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

7,113,924‌

85,000‌

Liberty

Latin

America

Ltd.,

Cl. A†

......

706,350‌

377,500‌

Rogers

Communications

Inc.,

Cl. B

.....

17,500,900‌

158,000‌

Shaw

Communications

Inc.,

Cl. B

......

4,725,780‌

45,147,222‌

Consumer

Products

 —

2.3%

33,414‌

American

Outdoor

Brands

Inc.†

.......

328,794‌

13,100‌

Christian

Dior

SE

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

11,692,320‌

27,000‌

Church

&

Dwight

Co.

Inc.

...........

2,387,070‌

194,000‌

Edgewell

Personal

Care

Co.

..........

8,229,480‌

73,000‌

Energizer

Holdings

Inc.

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

2,533,100‌

35,500‌

Essity

AB,

Cl. B

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

1,013,797‌

2,100‌

Givaudan

SA

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

6,823,651‌

80,000‌

Hanesbrands

Inc.

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

420,800‌

23,800‌

Harley-Davidson

Inc.

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

903,686‌

1,270‌

Hermes

International

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

2,567,315‌

3,500‌

Johnson

Outdoors

Inc.,

Cl. A

.........

220,535‌

7,959‌

Kimball

International

Inc.,

Cl. B

........

98,692‌

25,000‌

Mattel

Inc.†

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

460,250‌

13,000‌

National

Presto

Industries

Inc.

........

937,170‌

13,000‌

Oil-Dri

Corp.

of

America

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

540,930‌

49,900‌

Reckitt

Benckiser

Group

plc

..........

3,790,658‌

7,000‌

Spectrum

Brands

Holdings

Inc.

.......

463,540‌

27,600‌

Svenska

Cellulosa

AB

SCA,

Cl. B

.......

362,850‌

3,400‌

The

Estee

Lauder

Companies

Inc.,

Cl. A

..

837,964‌

4,280‌

Unilever

plc

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

221,224‌

7,200‌

Zalando

SE†

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

300,936‌

45,134,762‌

Aerospace

and

Defense

 —

2.1%

133,000‌

Aerojet

Rocketdyne

Holdings

Inc.†

.....

7,470,610‌

6

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Aerospace

and

Defense

(Continued)

15,000‌

Avio

SpA

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

$

151,776‌

90,000‌

FTAI

Aviation

Ltd.

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

2,516,400‌

14,000‌

Howmet

Aerospace

Inc.

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

593,180‌

500‌

IQVIA

Holdings

Inc.†

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

99,445‌

50,042‌

Kaman

Corp.

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

1,143,960‌

4,000‌

Kratos

Defense

&

Security

Solutions

Inc.†

53,920‌

12,000‌

L3Harris

Technologies

Inc.

...........

2,354,880‌

17,600‌

Northrop

Grumman

Corp.

...........

8,126,272‌

3,915,666‌

Rolls-Royce

Holdings

plc†

...........

7,198,211‌

1,500‌

Thales

SA

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

221,807‌

56,500‌

The

Boeing

Co.†

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

12,002,295‌

41,932,756‌

Computer

Software

and

Services

 —

1.9%

10,000‌

3D

Systems

Corp.†

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

107,200‌

330‌

Adobe

Inc.†

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

127,172‌

1,000‌

Akamai

Technologies

Inc.†

...........

78,300‌

1,000‌

Alibaba

Group

Holding

Ltd.,

ADR†

.....

102,180‌

22,750‌

Alphabet

Inc.,

Cl. A†

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

2,359,857‌

88,350‌

Alphabet

Inc.,

Cl. C†

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

9,188,400‌

4,400‌

Atos

SE†

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

54,351‌

11,000‌

Avid

Technology

Inc.†

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

351,780‌

1,500‌

Backblaze

Inc.,

Cl. A†

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

7,575‌

5,000‌

Check

Point

Software

Technologies

Ltd.†

.

650,000‌

1,740‌

Cloudflare

Inc.,

Cl. A†

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

107,288‌

670‌

CrowdStrike

Holdings

Inc.,

Cl. A†

......

91,964‌

47,500‌

Digital

Turbine

Inc.†

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

587,100‌

17,020‌

Fiserv

Inc.†

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

1,923,771‌

2,000‌

Fortinet

Inc.†

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

132,920‌

90,000‌

Hewlett

Packard

Enterprise

Co.

........

1,433,700‌

46,000‌

I3

Verticals

Inc.,

Cl. A†

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

1,128,380‌

270‌

Intuit

Inc.

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

120,374‌

29,659‌

Kyndryl

Holdings

Inc.†

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

437,767‌

27,000‌

Meta

Platforms

Inc.,

Cl. A†

..........

5,722,380‌

4,000‌

Micron

Technology

Inc.

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

241,360‌

4,870‌

Microsoft

Corp.

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

1,404,021‌

8,000‌

MKS

Instruments

Inc.

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

708,960‌

25,000‌

Movella

Holdings

Inc.†

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

34,250‌

32,400‌

N-able

Inc.†

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

427,680‌

1,370‌

NVIDIA

Corp.

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

380,545‌

140,000‌

Oxford

Metrics

plc

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

170,977‌

50,000‌

PAR

Technology

Corp.†

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

1,698,000‌

20,000‌

Playtech

plc†

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

130,021‌

4,700‌

PSI

Software

AG

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

139,407‌

200‌

Qualtrics

International

Inc.,

Cl. A†

......

3,566‌

18,000‌

Rockwell

Automation

Inc.

...........

5,282,100‌

700‌

Salesforce

Inc.†

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

139,846‌

1,800‌

SAP

SE,

ADR

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

227,790‌

455‌

ServiceNow

Inc.†

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

211,448‌

540‌

Snowflake

Inc.,

Cl. A†

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

83,317‌

Shares

Market

Value

21,000‌

SolarWinds

Corp.†

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

$

180,600‌

800‌

Splunk

Inc.†

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

76,704‌

2,600‌

Temenos

AG

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

179,822‌

5,000‌

Unity

Software

Inc.†

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

162,200‌

400‌

Veeva

Systems

Inc.,

Cl. A†

...........

73,516‌

88,000‌

Vimeo

Inc.†

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

337,040‌

7,700‌

VMware

Inc.,

Cl. A†

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

961,345‌

400‌

Zscaler

Inc.†

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

46,732‌

38,013,706‌

Broadcasting

 —

1.6%

2,000‌

Cogeco

Inc.

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

90,019‌

24,000‌

Corus

Entertainment

Inc.,

OTC,

Cl. B

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

30,720‌

131,400‌

Fox

Corp.,

Cl. A

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

4,474,170‌

60,000‌

Fox

Corp.,

Cl. B

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

1,878,600‌

16,000‌

Gray

Television

Inc.

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

139,520‌

19,250‌

Liberty

Broadband

Corp.,

Cl. A†

.......

1,580,810‌

82,672‌

Liberty

Broadband

Corp.,

Cl. C†

.......

6,754,302‌

31,750‌

Liberty

Media

Corp.-

Liberty

Formula

One,

Cl. A†

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

2,143,125‌

34,750‌

Liberty

Media

Corp.-

Liberty

Formula

One,

Cl. C†

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

2,600,342‌

55,000‌

Liberty

Media

Corp.-

Liberty

SiriusXM,

Cl. A†

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

1,544,950‌

163,449‌

Liberty

Media

Corp.-

Liberty

SiriusXM,

Cl. C†

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

4,574,938‌

23,000‌

Nexstar

Media

Group

Inc.

...........

3,971,180‌

75,800‌

Sinclair

Broadcast

Group

Inc.,

Cl. A

.....

1,300,728‌

10,000‌

TEGNA

Inc.

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

169,100‌

80,000‌

Television

Broadcasts

Ltd.†

..........

100,893‌

31,353,397‌

Hotels

and

Gaming

 —

1.6%

16,000‌

Accor

SA†

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

520,040‌

77,500‌

Bally's

Corp.†

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

1,512,800‌

18,000‌

Better

Collective

A/S†

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

348,935‌

22,500‌

Caesars

Entertainment

Inc.†

..........

1,098,225‌

78,500‌

Entain

plc

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

1,216,765‌

2,500‌

Flutter

Entertainment

plc†

...........

451,189‌

26,000‌

Gambling.com

Group

Ltd.†

..........

257,660‌

16,000‌

GAN

Ltd.†

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

20,640‌

76,000‌

Genius

Sports

Ltd.†

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

378,480‌

7,000‌

Hyatt

Hotels

Corp.,

Cl. A†

...........

782,530‌

14,500‌

Las

Vegas

Sands

Corp.†

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

833,025‌

4,138,500‌

Mandarin

Oriental

International

Ltd.†

...

7,159,605‌

9,000‌

Marriott

International

Inc.,

Cl. A

.......

1,494,360‌

70,000‌

MGM

China

Holdings

Ltd.†

..........

86,498‌

80,000‌

MGM

Resorts

International

..........

3,553,600‌

6,000‌

Penn

Entertainment

Inc.†

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

177,960‌

25,000‌

PlayAGS

Inc.†

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

178,750‌

109,800‌

Ryman

Hospitality

Properties

Inc.,

REIT

.

9,852,354‌

200,000‌

The

Hongkong

&

Shanghai

Hotels

Ltd.†

.

199,238‌

7

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Hotels

and

Gaming

(Continued)

4,000‌

Wyndham

Hotels

&

Resorts

Inc.

.......

$

271,400‌

7,400‌

Wynn

Resorts

Ltd.†

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

828,134‌

31,222,188‌

Building

and

Construction

 —

1.6%

26,500‌

Arcosa

Inc.

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

1,672,415‌

4,500‌

Ashtead

Group

plc

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

275,228‌

18,000‌

Assa

Abloy

AB,

Cl. B

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

430,620‌

26,800‌

Canfor

Corp.†

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

430,704‌

4,000‌

Cie

de

Saint-Gobain

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

226,964‌

44,500‌

Fortune

Brands

Innovations

Inc.

.......

2,613,485‌

32,025‌

Gencor

Industries

Inc.†

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

492,224‌

2,500‌

H&E

Equipment

Services

Inc.

.........

110,575‌

52,600‌

Herc

Holdings

Inc.

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

5,991,140‌

35,200‌

Ibstock

plc

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

74,904‌

220,000‌

Johnson

Controls

International

plc

.....

13,248,400‌

14,000‌

KBR

Inc.

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

770,700‌

44,500‌

Masterbrand

Inc.†

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

357,780‌

20,000‌

PGT

Innovations

Inc.†

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

502,200‌

12,000‌

Sika

AG

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

3,351,003‌

3,000‌

Vulcan

Materials

Co.

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

514,680‌

31,063,022‌

Specialty

Chemicals

 —

1.5%

11,000‌

AdvanSix

Inc.

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

420,970‌

127,000‌

DuPont

de

Nemours

Inc.

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

9,114,790‌

25,000‌

FMC

Corp.

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

3,053,250‌

15,000‌

H.B.

Fuller

Co.

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

1,026,750‌

60,500‌

International

Flavors

&

Fragrances

Inc.

..

5,563,580‌

2,800‌

Johnson

Matthey

plc

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

68,512‌

16,100‌

Rogers

Corp.†

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

2,631,223‌

101,900‌

Sensient

Technologies

Corp.

.........

7,801,464‌

13,000‌

SGL

Carbon

SE†

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

128,155‌

2,000‌

The

Chemours

Co.

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

59,880‌

580‌

The

Sherwin-Williams

Co.

...........

130,367‌

12,500‌

Treatt

plc

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

89,744‌

6,000‌

Valvoline

Inc.

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

209,640‌

30,298,325‌

Telecommunications

 —

1.4%

105,000‌

America

Movil

SAB

de

CV,

ADR†

.......

2,210,250‌

1,000‌

AT&T

Inc.

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

19,250‌

55,400‌

BCE

Inc.

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

2,481,366‌

874,200‌

BT

Group

plc,

Cl. A

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

1,572,326‌

7,040,836‌

Cable

&

Wireless

Jamaica

Ltd.†(a)

.....

54,099‌

6,000‌

Cisco

Systems

Inc.

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

313,650‌

30,000‌

Comtech

Telecommunications

Corp.

....

374,400‌

21,000‌

Deutsche

Telekom

AG

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

509,010‌

125,000‌

Deutsche

Telekom

AG,

ADR

..........

3,023,750‌

36,000‌

Hellenic

Telecommunications

Organization

SA

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

526,677‌

Shares

Market

Value

15,000‌

Hellenic

Telecommunications

Organization

SA,

ADR

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

$

111,150‌

264,732‌

Koninklijke

KPN

NV

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

934,804‌

100,000‌

Lumen

Technologies

Inc.

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

265,000‌

1,100,000‌

NII

Holdings

Inc.,

Escrow†

...........

385,000‌

16,000‌

Oi

SA,

ADR†

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

168‌

4,267‌

Oi

SA,

Cl.

C,

ADR

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

15‌

21,000‌

Telecom

Argentina

SA,

ADR

..........

104,790‌

430,000‌

Telecom

Italia

SpA†

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

141,859‌

70,000‌

Telefonica

Brasil

SA,

ADR

...........

529,900‌

320,000‌

Telefonica

SA,

ADR

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

1,369,600‌

480,000‌

Telephone

and

Data

Systems

Inc.

......

5,044,800‌

50,000‌

TELUS

Corp.

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

992,601‌

46,075‌

TIM

SA,

ADR

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

569,487‌

3,040‌

VEON

Ltd.,

ADR†

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

53,565‌

96,000‌

Verizon

Communications

Inc.

.........

3,733,440‌

174,000‌

Vodafone

Group

plc

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

191,679‌

119,100‌

Vodafone

Group

plc,

ADR

...........

1,314,864‌

26,827,500‌

Aviation:

Parts

and

Services

 —

1.3%

65,000‌

Astronics

Corp.†

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

868,400‌

134,400‌

Curtiss-Wright

Corp.

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

23,689,344‌

24,557,744‌

Real

Estate

 —

1.1%

40,833‌

Blackstone

Mortgage

Trust

Inc.,

Cl. A,

REIT

728,869‌

8,000‌

Bresler

&

Reiner

Inc.†

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

160‌

10,267‌

Gaming

and

Leisure

Properties

Inc.,

REIT

534,500‌

55,000‌

Indus

Realty

Trust

Inc.,

REIT

.........

3,645,950‌

17,000‌

Rayonier

Inc.,

REIT

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

565,420‌

60,000‌

Seritage

Growth

Properties,

Cl. A,

REIT†

.

472,200‌

3,000‌

Simon

Property

Group

Inc.,

REIT

......

335,910‌

10,000‌

Tejon

Ranch

Co.†

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

182,700‌

318,000‌

The

St.

Joe

Co.

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

13,231,980‌

27,415‌

VICI

Properties

Inc.,

REIT

...........

894,277‌

9,000‌

Weyerhaeuser

Co.,

REIT

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

271,170‌

20,863,136‌

Agriculture

 —

0.9%

168,000‌

Archer-Daniels-Midland

Co.

..........

13,382,880‌

35,000‌

Philip

Morris

International

Inc.

........

3,403,750‌

7,000‌

The

Mosaic

Co.

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

321,160‌

17,107,790‌

Metals

and

Mining

 —

0.9%

37,400‌

Agnico

Eagle

Mines

Ltd.

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

1,906,278‌

200‌

Alliance

Resource

Partners

LP

........

4,034‌

41,000‌

Barrick

Gold

Corp.

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

761,370‌

30,000‌

Cleveland-Cliffs

Inc.†

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

549,900‌

110,000‌

Freeport-McMoRan

Inc.

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

4,500,100‌

25,239‌

Livent

Corp.†

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

548,191‌

4,000‌

Materion

Corp.

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

464,000‌

50,000‌

New

Hope

Corp.

Ltd.

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

189,840‌

8

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

COMMON

STOCKS

(Continued)

Metals

and

Mining

(Continued)

135,000‌

Newmont

Corp.

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

$

6,617,700‌

60,000‌

TimkenSteel

Corp.†

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

1,100,400‌

10,000‌

Vale

SA,

ADR

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

157,800‌

16,799,613‌

Transportation

 —

0.8%

301,817‌

FTAI

Infrastructure

Inc.

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

905,451‌

130,200‌

GATX

Corp.

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

14,324,604‌

12,000‌

TravelCenters

of

America

Inc.†

........

1,038,000‌

500‌

Union

Pacific

Corp.

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

100,630‌

16,368,685‌

Automotive

 —

0.8%

21,100‌

Daimler

Truck

Holding

AG†

..........

711,889‌

98,500‌

General

Motors

Co.

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

3,612,980‌

76,000‌

Iveco

Group

NV†

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

719,132‌

3,550‌

Mercedes-Benz

Group

AG

...........

272,501‌

104,000‌

PACCAR

Inc.

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

7,612,800‌

40,000‌

Piaggio

&

C

SpA

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

170,570‌

35,000‌

Stellantis

NV

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

636,650‌

625‌

Tesla

Inc.†

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

129,662‌

8,000‌

The

Shyft

Group

Inc.

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

182,000‌

2,250‌

Toyota

Motor

Corp.,

ADR

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

318,803‌

57,000‌

Traton

SE

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

1,114,551‌

15,481,538‌

Communications

Equipment

 —

0.6%

9,440‌

Apple

Inc.

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

1,556,656‌

3,250‌

Arista

Networks

Inc.†

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

545,545‌

238,000‌

Corning

Inc.

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

8,396,640‌

326,269‌

Edgio

Inc.†

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

258,111‌

2,500‌

Motorola

Solutions

Inc.

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

715,325‌

4,500‌

QUALCOMM

Inc.

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

574,110‌

30,000‌

Telesat

Corp.†

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

258,000‌

12,304,387‌

Wireless

Communications

 —

0.5%

20,000‌

Anterix

Inc.†

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

660,800‌

100,000‌

Millicom

International

Cellular

SA,

SDR†

.

1,892,764‌

105,000‌

Operadora

De

Sites

Mexicanos

SAB

de

CV

104,709‌

39,500‌

T-Mobile

US

Inc.†

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

5,721,180‌

96,000‌

United

States

Cellular

Corp.†

.........

1,990,080‌

10,369,533‌

Manufactured

Housing

and

Recreational

Vehicles

 —

0.4%

1,630‌

Cavco

Industries

Inc.†

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

517,916‌

13,314‌

Legacy

Housing

Corp.†

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

303,027‌

5,000‌

Martin

Marietta

Materials

Inc.

.........

1,775,300‌

40,013‌

Nobility

Homes

Inc.

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

1,090,354‌

44,000‌

Skyline

Champion

Corp.†

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

3,310,120‌

2,500‌

The

AZEK

Co.

Inc.†

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

58,850‌

7,055,567‌

Shares

Market

Value

Publishing

 —

0.2%

1,400‌

Graham

Holdings

Co.,

Cl. B

..........

$

834,176‌

105,000‌

News

Corp.,

Cl. A

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

1,813,350‌

90,600‌

News

Corp.,

Cl. B

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

1,579,158‌

70,000‌

The

E.W.

Scripps

Co.,

Cl. A†

..........

658,700‌

4,885,384‌

Semiconductors

 —

0.1%

8,000‌

Advanced

Micro

Devices

Inc.†

........

784,080‌

40,000‌

Alphawave

IP

Group

plc†

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

57,831‌

2,900‌

Applied

Materials

Inc.

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

356,207‌

225‌

ASML

Holding

NV

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

153,160‌

1,200‌

Axcelis

Technologies

Inc.†

...........

159,900‌

500‌

Azenta

Inc.†

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

22,310‌

200‌

Lam

Research

Corp.

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

106,024‌

2,000‌

Lattice

Semiconductor

Corp.†

........

191,000‌

2,300‌

Marvell

Technology

Inc.

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

99,590‌

3,000‌

nLight

Inc.†

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

30,540‌

2,200‌

NXP

Semiconductors

NV

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

410,245‌

5,157‌

SkyWater

Technology

Inc.†

..........

58,687‌

3,000‌

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.,

ADR

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

279,060‌

2,708,634‌

Computer

Hardware

 —

0.0%

11,000‌

Dell

Technologies

Inc.,

Cl. C

..........

442,310‌

5,500‌

HP

Inc.

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

161,425‌

3,000‌

NETGEAR

Inc.†

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

55,530‌

659,265‌

TOTAL

COMMON

STOCKS

.........

1,925,589,587‌

CLOSED-END

FUNDS

 —

0.2%

245,000‌

Altaba

Inc.,

Escrow†

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

576,975‌

4,285‌

Royce

Global

Value

Trust

Inc.

.........

38,565‌

46,158‌

Royce

Value

Trust

Inc.

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

626,364‌

90,000‌

SuRo

Capital

Corp.

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

325,800‌

98,000‌

The

Central

Europe,

Russia,

and

Turkey

Fund

Inc.

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

791,615‌

159,000‌

The

New

Germany

Fund

Inc.

.........

1,445,310‌

3,804,629‌

TOTAL

CLOSED-END

FUNDS

........

3,804,629‌

PREFERRED

STOCKS

 —

0.2%

Retail

 —

0.1%

66,421‌

Qurate

Retail

Inc.,

8.000%,

03/15/31

....

1,946,800‌

Diversified

Industrial

 —

0.1%

80,000‌

Steel

Partners

Holdings

LP,

Ser.

A,

6.000%,

02/07/26

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

1,852,800‌

TOTAL

PREFERRED

STOCKS

........

3,799,600‌

9

The

Gabelli

Equity

Trust

Inc.

Schedule

of

Investments

(Continued)

—

March

31,

2023

(Unaudited)

Shares

Market

Value

CONVERTIBLE

PREFERRED

STOCKS

 —

0.0%

Automotive:

Parts

and

Accessories

 —

0.0%

37,672‌

Garrett

Motion

Inc.,

Ser.

A,

11.000%

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

$

334,904‌

WARRANTS

 —

0.0%

Diversified

Industrial

 —

0.0%

379,000‌

Ampco-Pittsburgh

Corp.,

expire

08/01/25†

208,412‌

Energy

and

Utilities

 —

0.0%

2,504‌

Occidental

Petroleum

Corp.,

expire

08/03/27†

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

102,664‌

Financial

Services

 —

0.0%

150,000‌

Post

Holdings

Partnering

Corp.,

expire

04/12/26†

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

22,500‌

TOTAL

WARRANTS

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

333,576‌

Principal

Amount

U.S.

GOVERNMENT

OBLIGATIONS

 —

1.6%

$

31,628,000‌

U.S.

Treasury

Bills,

4.342%

to

5.098%††,

04/20/23

to

09/07/23

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

31,138,995‌

TOTAL

INVESTMENTS

—

100.0%

....

(Cost

$1,234,702,798)

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

$

1,965,001,291‌

(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

yields

at

dates

of

purchase.

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

SDR

Swedish

Depositary

Receipt

Geographic

Diversification

%

of

Total

Investments

Market

Value

North

America

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

84.9‌

%

$

1,668,930,561‌

Europe

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

11.4‌

224,680,249‌

Japan

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

1.8‌

34,107,620‌

Latin

America

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

1.4‌

27,598,437‌

Asia/Pacific

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

0.5‌

9,684,424‌

Total

Investments

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

100.0‌%

$

1,965,001,291‌