NPORT-EX 2 GB42GBGlobalSmallMidValue.htm

FOR VALIDATION PURPOSES ONLY - [821071.TX]

The Gabelli Global Small and Mid Cap Value Trust

Schedule of Investments — September 30, 2019 (Unaudited)

Shares						Market Value
				COMMON STOCKS — 88.3%
				Aerospace — 2.4%
	12,500			Aerojet Rocketdyne Holdings Inc.†		$	631,375
	6,000			Allied Motion Technologies Inc.			211,860
	7,000			Avio SpA			90,793
	128,000			BBA Aviation plc			491,345
	16,500			Kaman Corp.			981,090
	1,000			L3Harris Technologies Inc.			208,640
	100,000			Rolls-Royce Holdings plc			974,290
	1,000			United Technologies Corp.			136,520
							3,725,913
				Automotive — 1.8%
	4,300			Ferrari NV			662,587
	76,000			Navistar International Corp.†			2,136,360
							2,798,947
				Automotive: Parts and Accessories — 1.8%
	90,400			Dana Inc.			1,305,376
	49,000			Freni Brembo SpA			477,465
	5,500			Linamar Corp.			178,801
	20,000			Modine Manufacturing Co.†			227,400
	52,000			Uni-Select Inc.			433,317
	1,400			Visteon Corp.†			115,556
							2,737,915
				Aviation: Parts and Services — 0.7%
	15,000			AAR Corp.			618,150
	6,000			Arconic Inc.			156,000
	1,000			Curtiss-Wright Corp.			129,370
	4,000			Ducommun Inc.†			169,600
							1,073,120
				Broadcasting — 1.8%
	30,000			Beasley Broadcast Group Inc., Cl. A			93,000
	100,000			Corus Entertainment Inc., Cl. B			399,290
	9,000			Discovery Inc., Cl. A†			239,670
	84,000			Grupo Televisa SAB, ADR			821,520
	260,000			ITV plc			402,479
	500			Liberty Broadband Corp., Cl. A†			52,260
	1,603			Liberty Broadband Corp., Cl. C†			167,786
	2,000			Liberty Media Corp.- Liberty SiriusXM, Cl. A†			83,140
	7,000			Sinclair Broadcast Group Inc., Cl. A			299,180
	25,000			Sirius XM Holdings Inc.			156,375
							2,714,700
				Building and Construction — 0.9%
	10,000			Arcosa Inc.			342,100
	3,745			Armstrong Flooring Inc.†			23,931
	1,000			Bouygues SA			40,056
	28,000			GCP Applied Technologies Inc.†			539,000
	11,163			IES Holdings Inc.†			229,846

Shares						Market Value
	6,000			Johnson Controls International plc		$	263,340
							1,438,273
				Business Services — 5.3%
	3,000			Aramark			130,740
	7,000			Clarivate Analytics plc†			118,090
	3,000			Core-Mark Holding Co. Inc.			96,345
	90,000			Diebold Nixdorf Inc.†			1,008,000
	15,000			Fly Leasing Ltd., ADR†			307,650
	58,500			Herc Holdings Inc.†			2,720,835
	52,808			JCDecaux SA			1,429,748
	13,000			Loomis AB, Cl. B			456,926
	25,200			Macquarie Infrastructure Corp.			994,644
	20,000			Ocean Outdoor Ltd.†			155,000
	4,000			Ströeer SE & Co. KGaA			304,533
	2,500			The Brink’s Co.			207,375
	12,000			The Interpublic Group of Companies Inc.			258,720
							8,188,606
				Cable and Satellite — 1.7%
	1,000			AMC Networks Inc., Cl. A†			49,160
	150			Cable One Inc.			188,205
	5,000			Cogeco Communications Inc.			402,951
	80,733			Dish TV India Ltd., GDR			18,892
	10,000			Intelsat SA†			228,000
	15,834			Liberty Global plc, Cl. A†			391,891
	49,712			Liberty Global plc, Cl. C†			1,182,648
	2,126			Liberty Latin America Ltd., Cl. A†			36,291
	13,000			WideOpenWest Inc.†			80,080
							2,578,118
				Computer Software and Services — 1.4%
	5,000			AVEVA Group plc			227,466
	6,000			Blucora Inc.†			129,840
	19,927			Carbon Black Inc.†			517,903
	14,000			Carbonite Inc.†			216,860
	30,000			Computer Task Group Inc.†			150,000
	7,500			Covetrus Inc.†			89,175
	12,000			Internap Corp.†			30,960
	3,000			InterXion Holding NV†			244,380
	1,000			Perspecta Inc.			26,120
	4,000			Rocket Internet SE†			103,328
	2,000			Twitter Inc.†			82,400
	2,800			zooplus AG†			333,264
							2,151,696
				Consumer Products — 4.5%
	2,400			Church & Dwight Co. Inc.			180,576
	200			dormakaba Holding AG			128,951
	2,000			Edgewell Personal Care Co.†			64,980
	14,500			Energizer Holdings Inc.			631,910
	21,300			Hunter Douglas NV			1,383,675
	300			L’Oreal SA			84,003

1

The Gabelli Global Small and Mid Cap Value Trust

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				Consumer Products (Continued)
	13,000			Marine Products Corp.		$	184,080
	13,000			Mattel Inc.†			148,070
	7,000			Nilfisk Holding A/S†			162,279
	600			Nintendo Co. Ltd., ADR			27,960
	2,500			Salvatore Ferragamo SpA			46,200
	45,000			Scandinavian Tobacco Group A/S			526,537
	6,000			Shiseido Co. Ltd.			478,835
	3,500			Spectrum Brands Holdings Inc.			184,520
	2,800			Spin Master Corp., Sub Voting†			85,552
	63,000			Swedish Match AB			2,605,361
							6,923,489
				Consumer Services — 0.6%
	165,000			AA plc			121,725
	3,000			Allegion plc			310,950
	17,500			Ashtead Group plc			487,145
							919,820
				Diversified Industrial — 4.8%
	39,000			Ampco-Pittsburgh Corp.†			143,520
	3,000			Colfax Corp.†			87,180
	3,000			Crane Co.			241,890
	28,362			EnPro Industries Inc.			1,947,051
	38,000			Greif Inc., Cl. A			1,439,820
	27,000			Griffon Corp.			566,190
	3,000			Haynes International Inc.			107,520
	3,000			Jardine Matheson Holdings Ltd.			160,500
	4,000			Jardine Strategic Holdings Ltd.			119,520
	1,000			Moog Inc., Cl. A			81,120
	24,200			Myers Industries Inc.			427,130
	5,000			Raven Industries Inc.			167,300
	5,000			Smiths Group plc			96,519
	5,000			Sulzer AG			491,709
	40,000			Toray Industries Inc.			296,731
	13,000			Tredegar Corp.			253,760
	7,000			Trinity Industries Inc.			137,760
	16,000			Ultra Electronics Holdings plc			397,782
	14,500			Wartsila OYJ Abp			162,389
							7,325,391
				Educational Services — 0.0%
	10,000			Universal Technical Institute Inc.†			54,400
				Electronics — 1.8%
	7,000			Datalogic SpA			100,483
	44,000			Sony Corp., ADR			2,601,720
							2,702,203
				Energy and Utilities: Electric — 0.7%
	31,200			Algonquin Power & Utilities Corp.			427,194
	5,500			El Paso Electric Co.			368,940

Shares						Market Value
	7,500			Fortis Inc.		$	317,074
							1,113,208
				Energy and Utilities: Integrated — 1.2%
	14,000			Avista Corp.			678,160
	2,000			Emera Inc.			87,799
	15,000			Hawaiian Electric Industries Inc.			684,150
	100,000			Hera SpA			410,477
							1,860,586
				Energy and Utilities: Natural Gas — 0.9%
	26,000			National Fuel Gas Co.			1,219,920
	1,200			Southwest Gas Holdings Inc.			109,248
	14,000			Whiting Petroleum Corp.†			112,420
							1,441,588
				Energy and Utilities: Services — 0.6%
	15,000			Dril-Quip Inc.†			752,700
	13,000			KLX Energy Services Holdings Inc.†			112,385
	70,000			Weatherford International plc†			1,946
							867,031
				Energy and Utilities: Water — 1.2%
	60,600			Beijing Enterprises Water Group Ltd.			31,005
	1,400			Consolidated Water Co. Ltd.			23,086
	17,000			Mueller Water Products Inc., Cl. A			191,080
	62,500			Severn Trent plc			1,663,726
							1,908,897
				Entertainment — 5.8%
	36,000			Borussia Dortmund GmbH & Co. KGaA			362,170
	95,000			Entertainment One Ltd.			661,125
	5,500			Golden Entertainment Inc.†			73,095
	500,000			GVC Holdings plc			4,570,213
	14,075			Liberty Media Corp.- Liberty Braves, Cl. A†			391,707
	21,011			Liberty Media Corp.- Liberty Braves, Cl. C†			583,055
	6,000			Manchester United plc, Cl. A			98,580
	238			Modern Times Group MTG AB, Cl. B†			1,972
	7,500			National CineMedia Inc.			61,500
	238			Nordic Entertainment Group AB, Cl. B			5,628
	5,000			Reading International Inc., Cl. A†			59,800
	1,900			The Madison Square Garden Co., Cl. A†			500,688
	16,000			Viacom Inc., Cl. A			420,160
	11,000			Viacom Inc., Cl. B			264,330
	13,000			Vivendi SA			356,785
	200,000			William Hill plc			461,448
	175,000			Wow Unlimited Media Inc.†(a)			76,612
							8,948,868
				Environmental Services — 1.3%
	26,000			Evoqua Water Technologies Corp.†			442,520
	2,000			Stericycle Inc.†			101,860

2

The Gabelli Global Small and Mid Cap Value Trust

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				Environmental Services (Continued)
	10,000			Tomra Systems ASA		$	267,102
	13,222			Waste Connections Inc.			1,216,424
							2,027,906
				Equipment and Supplies — 2.8%
	2,400			A.O. Smith Corp.			114,504
	25,500			Flowserve Corp.			1,191,105
	13,500			Graco Inc.			621,540
	19,000			Interpump Group SpA			600,565
	37,000			Mueller Industries Inc.			1,061,160
	7,000			Watts Water Technologies Inc., Cl. A			656,110
							4,244,984
				Financial Services — 3.9%
	600			Alleghany Corp.†			478,656
	53,000			FinecoBank Banca Fineco SpA			561,038
	35,000			Flushing Financial Corp.			707,175
	100,000			GAM Holding AG†			400,781
	1,000			Groupe Bruxelles Lambert SA			96,025
	16,000			H&R Block Inc.			377,920
	6,000			I3 Verticals Inc., Cl. A†			120,720
	30,000			Kinnevik AB, Cl. A			824,356
	52,000			Kinnevik AB, Cl. B			1,367,608
	40,000			Oaktree Specialty Lending Corp.			207,200
	64,000			Resona Holdings Inc.			274,053
	16,880			Synovus Financial Corp.			603,629
							6,019,161
				Food and Beverage — 16.2%
	7,000			Britvic plc			84,648
	1,000			Campbell Soup Co.			46,920
	280			Chocoladefabriken Lindt & Spruengli AG			2,067,632
	42,500			Chr. Hansen Holding A/S			3,607,253
	6,000			Coca-Cola Amatil Ltd.			43,129
	3,000			Coca-Cola HBC AG			98,007
	110,000			Cott Corp.			1,371,700
	336,000			Davide Campari-Milano SpA			3,036,001
	1,400			Diageo plc, ADR			228,928
	2,000			Fevertree Drinks plc			59,584
	1,800			Fomento Economico Mexicano SAB de CV, ADR			164,844
	1,000			Heineken Holding NV			99,567
	3,500			International Flavors & Fragrances Inc.			429,415
	39,000			ITO EN Ltd.			1,835,931
	600			J & J Snack Foods Corp.			115,200
	13,800			Kameda Seika Co. Ltd.			606,881
	10,000			Kerry Group plc, Cl. A			1,169,520
	43,200			Kikkoman Corp.			2,061,614
	101,000			Maple Leaf Foods Inc.			2,265,706
	11,000			Massimo Zanetti Beverage Group SpA			70,738
	30,000			Nomad Foods Ltd.†			615,000
	11,000			Post Holdings Inc.†			1,164,240

Shares						Market Value
	820,198			Premier Foods plc†		$	326,744
	7,500			Remy Cointreau SA			995,673
	1,800			Symrise AG			174,924
	400			The J.M. Smucker Co.			44,008
	9,000			Treasury Wine Estates Ltd.			112,804
	40,000			Tsingtao Brewery Co. Ltd., Cl. H			241,397
	215,000			Vitasoy International Holdings Ltd.			870,951
	16,000			Yakult Honsha Co. Ltd.			893,780
							24,902,739
				Health Care — 5.3%
	20,000			Bausch Health Cos. Inc.†			437,000
	1,600			Bio-Rad Laboratories Inc., Cl. A†			532,384
	150			Bio-Rad Laboratories Inc., Cl. B†			49,907
	5,500			BioTelemetry Inc.†			224,015
	3,427			Cantel Medical Corp.			256,340
	4,500			Cardiovascular Systems Inc.†			213,840
	1,750			Charles River Laboratories International Inc.†			231,647
	11,000			Clovis Oncology Inc.†			43,230
	8,004			Cutera Inc.†			233,957
	3,500			DaVita Inc.†			199,745
	4,000			DENTSPLY SIRONA Inc.			213,240
	2,000			Draegerwerk AG & Co. KGaA			70,520
	30,000			Electromed Inc.†			198,300
	11,000			Endo International plc†			35,310
	35,000			Evolent Health Inc., Cl. A†			251,650
	3,000			Gerresheimer AG			215,157
	1,250			ICU Medical Inc.†			199,500
	4,000			Idorsia Ltd.†			98,352
	80,000			InfuSystems Holdings Inc.†			423,200
	4,000			Integer Holdings Corp.†			302,240
	2,500			Ligand Pharmaceuticals Inc.†			248,850
	3,206			Medivir AB, Cl. B†			7,556
	3,000			NeoGenomics Inc.†			57,360
	30,000			Nuvectra Corp.†			40,800
	85,000			Option Care Health Inc.†			272,000
	4,500			Orthofix Medical Inc.†			238,590
	46,000			Patterson Cos. Inc.			819,720
	7,000			Perrigo Co. plc			391,230
	10,000			Personalis Inc.†			146,750
	3,000			Semler Scientific Inc.†			126,000
	4,500			Spark Therapeutics Inc.†			436,410
	6,000			SurModics Inc.†			274,440
	3,000			Teladoc Health Inc.†			203,160
	12,000			Tenet Healthcare Corp.†			265,440
	500			The Cooper Companies Inc.			148,500
	600			Zoetis Inc.			74,754
							8,181,094
				Hotels and Gaming — 3.1%
	3,000			Eldorado Resorts Inc.†			119,610
	24,000			Full House Resorts Inc.†			51,840
	61,000			International Game Technology plc			866,810

3

The Gabelli Global Small and Mid Cap Value Trust

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares						Market Value
				COMMON STOCKS (Continued)
				Hotels and Gaming (Continued)
	1,000			Luckin Coffee Inc., ADR†		$	19,000
	866,250			Mandarin Oriental International Ltd.			1,351,350
	24,000			MGM Resorts International			665,280
	8,300			Ryman Hospitality Properties Inc., REIT			679,023
	260,000			The Hongkong & Shanghai Hotels Ltd.			253,110
	7,000			Wynn Resorts Ltd.			761,040
							4,767,063
				Machinery — 3.9%
	20,002			Astec Industries Inc.			622,062
	300			Bucher Industries AG			93,723
	170,031			CNH Industrial NV, Borsa Italiana			1,730,944
	245,000			CNH Industrial NV, New York			2,486,750
	5,000			Twin Disc Inc.†			52,950
	13,000			Xylem Inc.			1,035,060
							6,021,489
				Manufactured Housing and Recreational Vehicles — 0.3%
	2,000			Cavco Industries Inc.†			384,180
				Media — 0.0%
	14,000			Megacable Holdings SAB de CV			56,393
				Metals and Mining — 0.4%
	3,000			Allegheny Technologies Inc.†			60,750
	26,000			Cameco Corp.			247,000
	18,000			TimkenSteel Corp.†			113,220
	5,000			Wheaton Precious Metals Corp.			131,200
							552,170
				Publishing — 0.8%
	1,250			Graham Holdings Co., Cl. B			829,313
	3,000			Meredith Corp.			109,980
	19,000			The E.W. Scripps Co., Cl. A			252,320
							1,191,613
				Real Estate — 0.3%
	11,001			Griffin Industrial Realty Inc.			417,488
	16,000			Trinity Place Holdings Inc.†			64,000
							481,488
				Retail — 3.1%
	1,000			Aaron’s Inc.			64,260
	7,000			AutoNation Inc.†			354,900
	9,500			Avis Budget Group Inc.†			268,470
	681			Biglari Holdings Inc., Cl. A†			382,164
	2,000			Carvana Co.†			132,000
	800			Casey’s General Stores Inc.			128,928
	2,900			Fnac Darty†			183,330
	126,000			Hertz Global Holdings Inc.†			1,743,840
	6,000			Macy’s Inc.			93,240
	13,000			MarineMax Inc.†			201,240
	3,000			Movado Group Inc.			74,580

Shares						Market Value
	1,200			Murphy USA Inc.†		$	102,360
	4,000			Penske Automotive Group Inc.			189,120
	8,000			PetIQ Inc.†			218,080
	6,000			Rush Enterprises Inc., Cl. B			239,580
	2,000			Sally Beauty Holdings Inc.†			29,780
	400,000			Sun Art Retail Group Ltd.			406,242
							4,812,114
				Specialty Chemicals — 2.4%
	8,500			Ashland Global Holdings Inc.			654,925
	80,000			Element Solutions Inc.†			814,400
	8,000			H.B. Fuller Co.			372,480
	19,000			Huntsman Corp.			441,940
	10,000			OMNOVA Solutions Inc.†			100,700
	5,000			Sensient Technologies Corp.			343,250
	18,000			SGL Carbon SE†			85,461
	6,000			T Hasegawa Co. Ltd.			110,705
	2,000			Takasago International Corp.			48,370
	700			Treatt plc			3,494
	34,021			Valvoline Inc.			749,483
							3,725,208
				Telecommunications — 1.3%
	1,200			BCE Inc.			58,092
	45,000			Communications Systems Inc.			205,650
	15,000			Gogo Inc.†			90,450
	6,000			Hellenic Telecommunications Organization SA, ADR			42,000
	10,000			Inmarsat plc			71,904
	9,000			Loral Space & Communications Inc.†			372,600
	100,000			Pharol SGPS SA†			12,164
	33,000			Telekom Austria AG			239,910
	10,000			Trilogy International Partners Inc.			16,228
	44,000			Vodafone Group plc, ADR			876,040
							1,985,038
				Transportation — 0.8%
	17,500			Fortress Transportation & Infrastructure Investors LLC			265,125
	12,500			GATX Corp.			969,125
							1,234,250
				Wireless Communications — 2.5%
	70,500			Millicom International Cellular SA, SDR			3,420,421
	13,000			United States Cellular Corp.†			488,540
							3,908,961
				TOTAL COMMON STOCKS			135,968,620
				CLOSED-END FUNDS — 0.2%
	25,000			MVC Capital Inc.			222,500

4

The Gabelli Global Small and Mid Cap Value Trust

Schedule of Investments (Continued) — September 30, 2019 (Unaudited)

Shares						Market Value
				MANDATORY CONVERTIBLE SECURITIES (b) — 0.1%
				Health Care — 0.1%
	4,000			Avantor Inc., 6.250%, Ser. A, 05/15/22		$	214,760
				PREFERRED STOCKS — 0.2%
				Financial Services — 0.2%
	18,200			The Phoenix Companies Inc., 7.450%, 01/15/32			296,842
				RIGHTS — 0.0%
				Health Care — 0.0%
	1,500			Tobira Therapeutics Inc., CVR†(c)			90
Principal Amount
				U.S. GOVERNMENT OBLIGATIONS — 11.2%
	$17,271,000			U.S. Treasury Bills, 1.798% to 2.081%††, 10/24/19 to 03/19/20			17,209,769
				TOTAL INVESTMENTS — 100.0%
				(Cost $135,509,954)		$	153,912,581

(a)		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. At September 30, 2019, the market value of the Rule 144A security amounted to $76,612 or 0.05% of total investments.
(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 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
CVR		Contingent Value Right
GDR		Global Depositary Receipt
REIT		Real Estate Investment Trust
SDR		Swedish Depositary Receipt

Geographic Diversification		% of Total Investments					Market Value
United States				54.4	%			$	83,733,992
Europe				32.8					50,476,553
Japan				6.0					9,236,579
Canada				3.7					5,771,714
Asia/Pacific				2.4					3,627,900
Latin America				0.7					1,065,843
Total Investments				100.0	%			$	153,912,581

5