NPORT-EX 2 GB19.htm

FOR VALIDATION PURPOSES ONLY - [66245.TX]

The Gabelli Utility Trust

Schedule of Investments — September 30, 2020 (Unaudited)

Shares						Market Value
				COMMON STOCKS — 83.5%
				ENERGY AND UTILITIES — 65.1%
				Alternative Energy — 1.2%
	700			Brookfield Renewable Corp., Cl. A		$	41,020
	400			Landis+Gyr Group AG†			21,910
	39,050			NextEra Energy Partners LP			2,341,438
	13,000			Ormat Technologies Inc.			768,430
	10,000			Siemens Gamesa Renewable Energy SA			270,720
	500			SolarEdge Technologies Inc.†			119,175
	1,200			Vestas Wind Systems A/S			194,649
							3,757,342
				Diversified Industrial — 0.5%
	4,000			AECOM†			167,360
	2,000			Alstom SA†			99,706
	11,000			AZZ Inc.			375,320
	11,000			Bouygues SA			382,010
	79,000			General Electric Co.			492,170
	900			Sulzer AG			72,358
							1,588,924
				Electric Integrated — 39.1%
	24,000			ALLETE Inc.			1,241,760
	88,200			Alliant Energy Corp.			4,555,530
	18,150			Ameren Corp.			1,435,302
	55,950			American Electric Power Co. Inc.			4,572,793
	3,000			Atlantica Sustainable Infrastructure plc			85,830
	58,000			Avangrid Inc.			2,926,680
	26,000			Avista Corp.			887,120
	1,000			Badger Meter Inc.			65,370
	33,000			Black Hills Corp.			1,765,170
	2,000			CenterPoint Energy Inc.			38,700
	83,150			CMS Energy Corp.			5,106,241
	45,500			Dominion Energy Inc.			3,591,315
	17,700			DTE Energy Co.			2,036,208
	74,700			Duke Energy Corp.			6,615,432
	74,000			Edison International			3,762,160
	5,000			Emera Inc.			205,400
	4,125			Entergy Corp.			406,436
	140,500			Evergy Inc.			7,140,210
	120,200			Eversource Energy.			10,042,710
	105,400			FirstEnergy Corp.			3,026,034
	80,000			Hawaiian Electric Industries Inc.			2,659,200
	1,800			IDACORP Inc.			143,820
	60,000			MGE Energy Inc.			3,759,600
	53,000			NextEra Energy Inc.			14,710,680
	48,000			NiSource Inc.			1,056,000
	72,000			NorthWestern Corp.			3,502,080
	184,000			OGE Energy Corp.			5,518,160
	50,000			Otter Tail Corp.			1,808,500
	34,000			PG&E Corp.†			319,260
	66,904			PNM Resources Inc.			2,765,142
	1,000			Portland General Electric Co.			35,500

Shares						Market Value
	1,000			PPL Corp.		$	27,210
	32,100			Public Service Enterprise Group Inc.			1,762,611
	350			Roper Technologies Inc.			138,289
	800			Sempra Energy			94,688
	2,900			The Southern Co.			157,238
	17,000			Unitil Corp.			656,880
	129,700			WEC Energy Group Inc.			12,567,930
	151,000			Xcel Energy Inc.			10,420,510
							121,609,699
				Electric Transmission and Distribution — 2.0%
	38,000			Consolidated Edison Inc.			2,956,400
	66,100			Exelon Corp.			2,363,736
	77,000			Iberdrola SA			948,834
							6,268,970
				Environmental Services — 0.3%
	4,000			Evoqua Water Technologies Corp.†			84,880
	3,000			Fluidra SA†			50,932
	2,000			Pentair plc			91,540
	3,000			Suez SA			55,592
	700			Tetra Tech Inc.			66,850
	30,000			Veolia Environnement SA			647,900
							997,694
				Equipment and Supplies — 0.2%
	300			Capstone Turbine Corp.†			1,428
	500			Danaher Corp.			107,665
	16,000			Mueller Industries Inc.			432,960
	2,500			Rexnord Corp.			74,600
	500			Valmont Industries Inc.			62,090
							678,743
				Global Utilities — 2.8%
	8,000			Chubu Electric Power Co. Inc.			97,170
	7,595			EDP - Energias de Portugal SA			37,356
	125,000			Electric Power Development Co. Ltd.			1,923,624
	33,000			Endesa SA			883,317
	300,000			Enel SpA			2,609,185
	500,000			Hera SpA.			1,847,792
	15,000			Hokkaido Electric Power Co. Inc.			64,002
	12,000			Hokuriku Electric Power Co.			89,774
	3,000			Huaneng Power International Inc., ADR			46,290
	35,000			Korea Electric Power Corp., ADR†			304,850
	20,000			Kyushu Electric Power Co. Inc.			181,482
	10,000			Shikoku Electric Power Co. Inc.			76,234
	8,000			The Chugoku Electric Power Co. Inc.			100,052
	25,000			The Kansai Electric Power Co. Inc.			241,786
	13,000			Tohoku Electric Power Co. Inc.			130,166
							8,633,080
				Merchant Energy — 1.5%
	258,000			The AES Corp.(a)			4,672,380

1

The Gabelli Utility Trust

Schedule of Investments (Continued) — September 30, 2020 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				ENERGY AND UTILITIES (Continued)
				Natural Gas Integrated — 3.4%
	117,000			Energy Transfer LP		$	634,140
	90,000			Kinder Morgan Inc.			1,109,700
	110,600			National Fuel Gas Co.			4,489,254
	165,000			ONEOK Inc.			4,286,700
							10,519,794
				Natural Gas Utilities — 5.7%
	25,800			Atmos Energy Corp.			2,466,222
	19,300			Chesapeake Utilities Corp.			1,626,990
	30,262			Corning Natural Gas Holding Corp.			499,323
	14,000			Engie SA†			187,452
	72,000			National Grid plc, ADR			4,160,880
	30,000			ONE Gas Inc.			2,070,300
	18,000			RGC Resources Inc.			422,100
	91,700			Southwest Gas Holdings Inc.			5,786,270
	5,300			Spire Inc.			281,960
	2,000			UGI Corp.			65,960
							17,567,457
				Natural Resources — 0.9%
	3,000			Apache Corp.			28,410
	55,000			Cameco Corp.			555,500
	10,000			CNX Resources Corp.†			94,400
	30,000			Compania de Minas Buenaventura SAA, ADR			366,600
	41,000			Exxon Mobil Corp.			1,407,530
	4,000			Hess Corp.			163,720
	400			Linde plc			95,252
	15,000			WPX Energy Inc.†			73,500
							2,784,912
				Services — 1.2%
	24,000			ABB Ltd., ADR.			610,800
	100,000			Enbridge Inc.			2,920,000
	13,000			Sunoco LP			317,070
							3,847,870
				Water — 6.3%
	27,000			American States Water Co.			2,023,650
	26,500			American Water Works Co. Inc.			3,839,320
	24,200			Artesian Resources Corp., Cl. A			834,174
	34,000			California Water Service Group			1,477,300
	27,000			Essential Utilities Inc.			1,086,750
	43,200			Middlesex Water Co.			2,684,880
	155,000			Severn Trent plc			4,878,126
	38,500			SJW Group			2,343,110
	10,000			The York Water Co.			422,700
							19,590,010
				TOTAL ENERGY AND UTILITIES			202,516,875

Shares						Market Value
				COMMUNICATIONS — 14.6%
				Cable and Satellite — 4.2%
	3,000			Charter Communications Inc., Cl. A†		$	1,873,020
	20,000			Cogeco Inc.			1,322,519
	68,000			DISH Network Corp., Cl. A†			1,974,040
	10,000			EchoStar Corp., Cl. A†			248,900
	300,000			ITV plc			261,762
	42,421			Liberty Global plc, Cl. A†			891,265
	108,771			Liberty Global plc, Cl. C†			2,233,612
	11,000			Liberty Latin America Ltd., Cl. A†			90,750
	5,380			Liberty Latin America Ltd., Cl. C†			43,793
	10,000			Rogers Communications Inc., Cl. B			396,500
	100,000			Telenet Group Holding NV			3,885,521
							13,221,682
				Communications Equipment — 0.1%
	11,500			Furukawa Electric Co. Ltd.			272,820
				Telecommunications — 6.4%
	75,000			AT&T Inc.			2,138,250
	6,000			BCE Inc., New York			248,820
	6,047			BCE Inc., Toronto			250,772
	100,000			BT Group plc, Cl. A			126,945
	132,000			CenturyLink Inc.			1,331,880
	100,000			Cincinnati Bell Inc.†			1,500,000
	5,000			Cogeco Communications Inc.			410,011
	70,000			Deutsche Telekom AG			1,172,808
	43,000			Deutsche Telekom AG, ADR			724,550
	200			Hutchison Telecommunications Hong Kong     Holdings Ltd.			31
	70,000			Nippon Telegraph & Telephone Corp.			1,427,014
	1,000			Orange Belgium SA			16,156
	2,000			Orange SA, ADR			20,760
	11,800			Orascom Investment Holding, GDR†			1,558
	30,000			Pharol SGPS SA†			3,778
	4,000			Proximus SA			73,044
	2,000			PT Indosat Tbk†			267
	115,000			Sistema PJSC FC, GDR			616,400
	10,000			SoftBank Group Corp.			613,379
	11,000			Sunrise Communications Group AG			1,301,775
	1,350			Tele2 AB, Cl. B			19,114
	20,000			Telefonica Deutschland Holding AG			51,330
	85,000			Telekom Austria AG			600,943
	1,200			Telesites SAB de CV†			1,084
	7,000			T-Mobile US Inc.†			800,520
	300,000			VEON Ltd., ADR			378,000
	100,000			Verizon Communications Inc.			5,949,000
							19,778,189
				Wireless Communications — 3.9%
	2,500			America Movil SAB de CV, Cl. L, ADR			31,225
	5,500			Anterix Inc.†			179,905
	2,000			China Mobile Ltd., ADR			64,320

2

The Gabelli Utility Trust

Schedule of Investments (Continued) — September 30, 2020 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				COMMUNICATIONS (Continued)
				Wireless Communications (Continued)
	2,000			China Unicom Hong Kong Ltd., ADR		$	13,080
	110,000			Millicom International Cellular SA, SDR			3,348,203
	1,154			Mobile Telesystems PJSC			5,043
	7,250			Mobile TeleSystems PJSC, ADR			63,293
	100,000			NTT DOCOMO Inc.			3,683,686
	2,000			SK Telecom Co. Ltd., ADR			44,840
	400			SmarTone Telecommunications Holdings Ltd.			212
	60,000			Turkcell Iletisim Hizmetleri A/S, ADR			287,400
	53,500			United States Cellular Corp.†			1,579,855
	220,000			Vodafone Group plc, ADR			2,952,400
							12,253,462
				TOTAL COMMUNICATIONS			45,526,153
				OTHER — 3.6%
				Agriculture — 0.0%
	3,000			Cadiz Inc.†			29,790
				Diversified Industrial — 0.0%
	1,000			Macquarie Infrastructure Corp.			26,890
				Electronics — 0.6%
	700			Hubbell Inc.			95,788
	3,500			Keysight Technologies Inc.†			345,730
	18,000			Sony Corp., ADR			1,381,500
							1,823,018
				Entertainment — 0.5%
	50,000			Vivendi SA			1,395,223
				Financial Services — 0.8%
	40,000			GAM Holding AG†			77,303
	22,000			Kinnevik AB, Cl. A			889,251
	38,000			Kinnevik AB, Cl. B			1,547,223
							2,513,777
				Health Care — 0.6%
	10,000			Varian Medical Systems Inc.†			1,720,000
				Machinery — 0.5%
	180,000			CNH Industrial NV†			1,407,600
	1,500			Flowserve Corp.			40,935
	8,000			Mueller Water Products Inc., Cl. A			83,120
	1,000			Xylem Inc.			84,120
							1,615,775
				Specialty Chemicals — 0.0%
	400			Air Products and Chemicals Inc.			119,144

Shares						Market Value
				Transportation — 0.6%
	28,500			GATX Corp.		$	1,816,875
				TOTAL OTHER			11,060,492
				INDEPENDENT POWER PRODUCERS AND ENERGY TRADERS — 0.2%
				Electric Integrated — 0.2%
	20,000			NRG Energy Inc.			614,800
				TOTAL COMMON STOCKS			259,718,320
				MANDATORY CONVERTIBLE SECURITIES (b) — 0.0%
				Energy and Utilities — 0.0%
				Natural Gas Utilities — 0.0%
	4,203			Corning Natural Gas Holding Corp. 4.800%, Ser. B, 09/30/26			92,466
				WARRANTS — 0.0%
				COMMUNICATIONS — 0.0%
				Telecommunications — 0.0%
	16,000			Bharti Airtel Ltd., expire 12/02/20†(c)			91,360
				ENERGY AND UTILITIES — 0.0%
				Natural Resources — 0.0%
	625			Occidental Petroleum Corp., expire 08/03/27†			1,875
				Services — 0.0%
	1,425			Weatherford International plc, expire 12/13/23†			185
				TOTAL ENERGY AND UTILITIES			2,060
				TOTAL WARRANTS			93,420
Principal Amount
				CORPORATE BONDS — 0.0%
				Energy and Utilities — 0.0%
				Equipment and Supplies — 0.0%
$	30,000			Mueller Industries Inc., 6.000%, 03/01/27			30,107
				U.S. GOVERNMENT OBLIGATIONS — 16.5%
	51,189,000			U.S. Treasury Bills, 0.080% to 0.150%††, 11/05/20 to 03/25/21(d)			51,180,476
				TOTAL INVESTMENTS — 100.0% (Cost $294,661,555)		$	311,114,789

3

The Gabelli Utility Trust

Schedule of Investments (Continued) — September 30, 2020 (Unaudited)

(a) Securities, or a portion thereof, with a value of $2,263,750 are reserved and/or pledged with the custodian for current or potential holdings of swaps.

(b) Mandatory convertible securities are required to be converted on the dates listed; they generally may be converted prior to these dates at the option of the holder.

(c) Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may be resold in transactions exempt from registration, normally to qualified institutional buyers.

(d) At September 30, 2020, $500,000 of the principal amount was pledged as collateral for current or potential holdings.

† Non-income producing security.

†† Represents annualized yields at dates of purchase.

ADR American Depositary Receipt

GDR Global Depositary Receipt

SDR Swedish Depositary Receipt

As of September 30, 2020, equity contract for difference swap agreements outstanding were as follows:

Market Value   Appreciation Received

One Month LIBOR Plus 90 bps plus Market Value Depreciation Paid

Counterparty

Payment Frequency

Termination Date

Notional Amount

Value

Upfront Payments/ Receipts

Unrealized (Depreciation)

Rolls-Royce Holdings plc

Rolls-Royce Holdings plc

The Goldman Sachs Group, Inc.

1 month

06/28/2021

$

262,216

$

(94,560

)

—

$(94,560)

TOTAL EQUITY CONTRACT FOR DIFFERENCE SWAP AGREEMENTS

$(94,560)

4