NPORT-EX 2 GB41_GB093021.htm
1
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
 —
83.6%
Agriculture
 —
7.0%
45,000‌
Archer-Daniels-Midland
Co.(a)
........
$
2,700,450‌
20,500‌
Bunge
Ltd.(a)
....................
1,667,060‌
40,000‌
Corteva
Inc.
.....................
1,683,200‌
63,990‌
Nutrien
Ltd.(a)
...................
4,148,472‌
10,199,182‌
Energy
and
Energy
Services
 —
21.1%
11,500‌
APA
Corp.
......................
246,445‌
23,500‌
Baker
Hughes
Co.
.................
581,155‌
49,000‌
BP
plc,
ADR
.....................
1,339,170‌
21,300‌
Cabot
Oil
&
Gas
Corp.
..............
463,488‌
27,345‌
Chevron
Corp.(a)
.................
2,774,150‌
23,800‌
ConocoPhillips(a)
.................
1,612,926‌
16,000‌
Devon
Energy
Corp.
...............
568,160‌
6,500‌
Diamondback
Energy
Inc.
...........
615,355‌
61,500‌
Eni
SpA
........................
822,520‌
16,300‌
EOG
Resources
Inc.(a)
.............
1,308,401‌
70,200‌
Exxon
Mobil
Corp.(a)
..............
4,129,164‌
26,000‌
Halliburton
Co.(a)
.................
562,120‌
1,500‌
Hess
Corp.
......................
117,165‌
69,682‌
Kinder
Morgan
Inc.(a)
..............
1,165,780‌
17,695‌
Marathon
Petroleum
Corp.(a)
.........
1,093,728‌
5,749‌
Occidental
Petroleum
Corp.(a)
........
170,055‌
13,200‌
ONEOK
Inc.
.....................
765,468‌
13,200‌
Phillips
66(a)
....................
924,396‌
7,800‌
Pioneer
Natural
Resources
Co.(a)
......
1,298,778‌
171,500‌
Royal
Dutch
Shell
plc,
Cl. A
..........
3,824,359‌
39,500‌
Schlumberger
NV(a)
...............
1,170,780‌
21,000‌
Suncor
Energy
Inc.(a)
..............
435,540‌
15,000‌
Sunoco
LP
......................
559,800‌
36,500‌
The
Williams
Companies
Inc.(a)
.......
946,810‌
45,000‌
TotalEnergies
SE,
ADR(a)
............
2,156,850‌
14,200‌
Valero
Energy
Corp.(a)
.............
1,002,094‌
30,654,657‌
Food
and
Beverage
 —
3.0%
40,000‌
Mowi
ASA
......................
1,016,272‌
7,000‌
Pilgrim's
Pride
Corp.†
..............
203,560‌
39,000‌
Tyson
Foods
Inc.,
Cl. A(a)
...........
3,078,660‌
4,298,492‌
Health
Care
 —
8.1%
27,000‌
Elanco
Animal
Health
Inc.†
...........
861,030‌
6,900‌
IDEXX
Laboratories
Inc.†(a)
..........
4,291,110‌
34,000‌
Zoetis
Inc.(a)
....................
6,600,760‌
11,752,900‌
Machinery
 —
4.7%
10,000‌
AGCO
Corp.
.....................
1,225,300‌
75,000‌
CNH
Industrial
NV
.................
1,245,750‌
Shares
Market
Value
13,000‌
Deere
&
Co.(a)
...................
$
4,355,910‌
6,826,960‌
Metals
and
Mining
 —
37.1%
67,200‌
Agnico
Eagle
Mines
Ltd.(a)
..........
3,484,320‌
322,516‌
Alamos
Gold
Inc.,
Cl. A(a)
...........
2,322,115‌
213,500‌
B2Gold
Corp.
....................
730,170‌
203,794‌
Barrick
Gold
Corp.(a)
..............
3,678,482‌
475,000‌
Belo
Sun
Mining
Corp.†
.............
161,259‌
30,000‌
BHP
Group
Ltd.,
ADR(a)
............
1,605,600‌
175,000‌
Centamin
plc
....................
225,467‌
75,000‌
Dundee
Precious
Metals
Inc.
.........
451,208‌
96,500‌
Eldorado
Gold
Corp.†
..............
745,945‌
153,185‌
Endeavour
Mining
plc
..............
3,448,053‌
48,500‌
Equinox
Gold
Corp.†
...............
320,100‌
451,000‌
Evolution
Mining
Ltd.
..............
1,137,916‌
28,200‌
Franco-Nevada
Corp.(a)
.............
3,663,462‌
96,000‌
Freeport-McMoRan
Inc.(a)
...........
3,122,880‌
62,137‌
Fresnillo
plc
.....................
654,215‌
108,500‌
Gold
Fields
Ltd.,
ADR
..............
881,020‌
748,733‌
Gold
Road
Resources
Ltd.
...........
646,849‌
79,224‌
Harmony
Gold
Mining
Co.
Ltd.,
ADR
....
249,556‌
481,500‌
Hochschild
Mining
plc
..............
862,868‌
63,000‌
K92
Mining
Inc.†
.................
302,913‌
191,200‌
Kinross
Gold
Corp.
................
1,024,832‌
75,326‌
Kirkland
Lake
Gold
Ltd.(a)
...........
3,132,808‌
10,000‌
Labrador
Iron
Ore
Royalty
Corp.
.......
278,067‌
105,952‌
Newcrest
Mining
Ltd.
..............
1,734,179‌
78,200‌
Newmont
Corp.(a)
................
4,246,260‌
67,085‌
Northern
Dynasty
Minerals
Ltd.†
......
30,819‌
461,005‌
Northern
Star
Resources
Ltd.
.........
2,832,910‌
314,975‌
OceanaGold
Corp.†
................
514,763‌
41,700‌
Osisko
Gold
Royalties
Ltd.
...........
468,491‌
30,000‌
Osisko
Gold
Royalties
Ltd.,
New
York
...
336,900‌
7,000‌
Pan
American
Silver
Corp.
...........
162,890‌
600,000‌
Perseus
Mining
Ltd.†
..............
607,278‌
112,500‌
Pretium
Resources
Inc.†
............
1,084,500‌
50,000‌
Rio
Tinto
plc,
ADR(a)
..............
3,341,000‌
5,500‌
Royal
Gold
Inc.
...................
525,195‌
59,000‌
SSR
Mining
Inc.
..................
858,450‌
39,000‌
Victoria
Gold
Corp.†
...............
464,022‌
71,500‌
Wesdome
Gold
Mines
Ltd.†
..........
572,971‌
10‌
Westgold
Resources
Ltd.
............
12‌
67,850‌
Wheaton
Precious
Metals
Corp.(a)
.....
2,549,803‌
80,000‌
Yamana
Gold
Inc.
.................
316,800‌
53,777,348‌
Specialty
Chemicals
 —
2.6%
17,500‌
CF
Industries
Holdings
Inc.(a)
........
976,850‌
13,500‌
FMC
Corp.
......................
1,236,060‌
2
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Specialty
Chemicals
(Continued)
43,000‌
The
Mosaic
Co.(a)
.................
$
1,535,960‌
3,748,870‌
TOTAL
COMMON
STOCKS
.........
121,258,409‌
RIGHTS
 —
0.0%
Metals
and
Mining
 —
0.0%
90,000‌
Pan
American
Silver
Corp.,
CVR†
......
64,800‌
WARRANTS
 —
0.0%
Energy
and
Energy
Services
 —
0.0%
1,012‌
Occidental
Petroleum
Corp.,
expire
08/03/27†
.....................
11,992‌
Principal
Amount
CONVERTIBLE
CORPORATE
BONDS
 —
0.6%
Metals
and
Mining
 —
0.6%
$
200,000‌
Fortuna
Silver
Mines
Inc.,
4.650%,
10/31/24
...............
221,060‌
350,000‌
Osisko
Gold
Royalties
Ltd.,
4.000%,
12/31/22
...............
279,760‌
350,000‌
Pretium
Resources
Inc.,
2.250%,
03/15/22
...............
348,390‌
849,210‌
TOTAL
CONVERTIBLE
CORPORATE
BONDS
....................
849,210‌
CORPORATE
BONDS
 —
0.3%
Metals
and
Mining
 —
0.3%
500,000‌
IAMGOLD
Corp.,
5.750%,
10/15/28(b)
.............
493,250‌
U.S.
GOVERNMENT
OBLIGATIONS
 —
15.5%
445,000‌
U.S.
Cash
Management
Bill,
0.040%††,
10/26/21
.............
444,986‌
21,981,000‌
U.S.
Treasury
Bills,
0.014%
to
0.055%††,
10/14/21
to
03/17/22(c)
....................
21,979,330‌
TOTAL
U.S.
GOVERNMENT
OBLIGATIONS
22,424,316‌
TOTAL
INVESTMENTS
BEFORE
OPTIONS
WRITTEN
—
100.0%
...........
(Cost
$172,992,142)
.............
$
145,101,977‌
(a)
Securities,
or
a
portion
thereof,
with
a
value
of
$57,470,291
were
deposited
with
the
broker
as
collateral
for
options
written.
(b)
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.
(c)
At
September
30,
2021,
$13,130,000
of
the
principal
amount
was
pledged
as
collateral
for
options
written.
†
Non-income
producing
security.
††
Represents
annualized
yield(s)
at
date(s)
of
purchase.
ADR
American
Depositary
Receipt
CVR
Contingent
Value
Right
Geographic
Diversification
%
of
Total
Investments
*
Market
Value
Long
Positions
United
States
........................
57.1‌
%
$
82,822,772‌
Canada
..............................
22.8‌
33,132,598‌
Europe
..............................
12.0‌
17,419,442‌
Asia/Pacific
.........................
6.3‌
9,079,507‌
Latin
America
.......................
1.0‌
1,517,083‌
South
Africa
.........................
0.8‌
1,130,575‌
Total
Investments
—
Long
Positions
100.0‌%
$
145,101,977‌
Short
Positions
United
States
........................
(4.4‌)
%
$
(6,338,326‌)
Europe
..............................
(0.4‌)
(538,579‌)
Canada
..............................
(0.1‌)
(193,280‌)
Asia/Pacific
.........................
(0.0‌)
**
(23,202‌)
Total
Investments
—
Short
Positions
(4.9‌)%
$
(7,093,387‌)
*
Total
investments
exclude
options
written.
**
Amount
represents
greater
than
(0.05)%.
3
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
As
of
September
30,
2021,
options
written
outstanding
were
as
follows:
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
OTC
Call
Options
Written
—
(3.3)%
AGCO
Corp.
Pershing
LLC
50‌
USD
612,650‌
USD
145.00
01/21/22
$
15,860‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
125‌
USD
648,125‌
USD
60.00
10/15/21
576‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
60‌
USD
311,100‌
USD
66.00
10/15/21
13‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
180‌
USD
933,300‌
USD
68.00
12/17/21
4,512‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
250‌
USD
1,296,250‌
USD
62.50
01/21/22
21,203‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
225‌
USD
1,166,625‌
USD
60.00
03/18/22
42,199‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
550‌
USD
396,000‌
USD
8.50
11/19/21
7,950‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
1,100‌
USD
792,000‌
USD
8.00
12/17/21
33,014‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
650‌
USD
468,000‌
USD
8.50
01/21/22
20,721‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
400‌
USD
288,000‌
USD
9.00
02/18/22
13,031‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
525‌
USD
378,000‌
USD
8.25
03/18/22
24,822‌
APA
Corp.
Pershing
LLC
75‌
USD
160,725‌
USD
20.00
12/17/21
22,451‌
APA
Corp.
Pershing
LLC
37‌
USD
79,291‌
USD
20.00
04/14/22
14,585‌
Archer-Daniels-Midland
Co.
Pershing
LLC
200‌
USD
1,200,200‌
USD
60.00
11/19/21
51,734‌
Archer-Daniels-Midland
Co.
Pershing
LLC
150‌
USD
900,150‌
USD
60.00
12/17/21
46,279‌
Archer-Daniels-Midland
Co.
Pershing
LLC
100‌
USD
600,100‌
USD
60.00
01/21/22
35,497‌
B2Gold
Corp.
Pershing
LLC
835‌
USD
285,570‌
USD
5.50
10/15/21
0‌
B2Gold
Corp.
Pershing
LLC
835‌
USD
285,570‌
USD
3.50
11/19/21
18,176‌
B2Gold
Corp.
Pershing
LLC
835‌
USD
285,570‌
USD
5.00
01/21/22
5,927‌
B2Gold
Corp.
Pershing
LLC
1,300‌
USD
444,600‌
USD
4.60
02/18/22
18,889‌
Baker
Hughes
Co.
Pershing
LLC
95‌
USD
234,935‌
USD
21.00
10/15/21
40,612‌
Baker
Hughes
Co.
Pershing
LLC
70‌
USD
173,110‌
USD
23.00
11/19/21
19,663‌
Baker
Hughes
Co.
Pershing
LLC
70‌
USD
173,110‌
USD
23.00
12/17/21
21,540‌
Barrick
Gold
Corp.
Pershing
LLC
125‌
USD
225,625‌
USD
24.00
10/15/21
24‌
Barrick
Gold
Corp.
Pershing
LLC
125‌
USD
225,625‌
USD
20.00
11/19/21
3,048‌
Barrick
Gold
Corp.
Pershing
LLC
675‌
USD
1,218,375‌
USD
22.00
11/19/21
5,962‌
Barrick
Gold
Corp.
Pershing
LLC
800‌
USD
1,444,000‌
USD
20.00
12/17/21
24,758‌
Barrick
Gold
Corp.
Pershing
LLC
750‌
USD
1,353,750‌
USD
21.00
01/21/22
26,136‌
Barrick
Gold
Corp.
Pershing
LLC
868‌
USD
1,566,740‌
USD
21.00
02/18/22
40,126‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
100‌
USD
535,200‌
USD
72.00
10/15/21
58‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
100‌
USD
535,200‌
USD
67.50
12/17/21
2,843‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
100‌
USD
535,200‌
USD
70.00
01/21/22
3,460‌
BP
plc,
ADR
Pershing
LLC
170‌
USD
464,610‌
USD
28.00
10/15/21
6,281‌
BP
plc,
ADR
Pershing
LLC
170‌
USD
464,610‌
USD
26.00
12/17/21
34,685‌
BP
plc,
ADR
Pershing
LLC
150‌
USD
409,950‌
USD
26.00
01/21/22
34,480‌
Bunge
Ltd.
Pershing
LLC
100‌
USD
813,200‌
USD
80.00
10/15/21
24,558‌
Bunge
Ltd.
Pershing
LLC
105‌
USD
853,860‌
USD
80.00
12/17/21
48,342‌
Cabot
Oil
&
Gas
Corp.
Pershing
LLC
105‌
USD
228,480‌
USD
25.00
11/19/21
7,415‌
Cabot
Oil
&
Gas
Corp.
Pershing
LLC
105‌
USD
228,480‌
USD
25.00
01/21/22
14,349‌
CF
Industries
Holdings
Inc.
Pershing
LLC
100‌
USD
558,200‌
USD
55.00
11/19/21
39,002‌
CF
Industries
Holdings
Inc.
Pershing
LLC
75‌
USD
418,650‌
USD
55.00
01/21/22
39,539‌
Chevron
Corp.
Pershing
LLC
90‌
USD
913,050‌
USD
107.00
12/17/21
29,805‌
Chevron
Corp.
Pershing
LLC
93‌
USD
943,485‌
USD
102.50
01/21/22
58,562‌
Chevron
Corp.
Pershing
LLC
90‌
USD
913,050‌
USD
102.50
02/18/22
56,581‌
CNH
Industrial
NV
Pershing
LLC
400‌
USD
664,400‌
USD
16.50
12/17/21
49,609‌
CNH
Industrial
NV
Pershing
LLC
350‌
USD
581,350‌
USD
16.50
02/18/22
55,377‌
ConocoPhillips
Pershing
LLC
67‌
USD
454,059‌
USD
60.00
10/15/21
54,175‌
ConocoPhillips
Pershing
LLC
70‌
USD
474,390‌
USD
54.00
11/19/21
96,788‌
ConocoPhillips
Pershing
LLC
45‌
USD
304,965‌
USD
62.50
12/17/21
33,051‌
4
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
ConocoPhillips
Pershing
LLC
56‌
USD
379,512‌
USD
65.00
01/21/22
$
37,076‌
Corteva
Inc.
Pershing
LLC
200‌
USD
841,600‌
USD
45.00
10/15/21
4,369‌
Corteva
Inc.
Pershing
LLC
200‌
USD
841,600‌
USD
45.00
12/17/21
26,217‌
Devon
Energy
Corp.
Pershing
LLC
80‌
USD
284,080‌
USD
25.00
10/15/21
83,699‌
Devon
Energy
Corp.
Pershing
LLC
80‌
USD
284,080‌
USD
28.00
12/17/21
65,735‌
Diamondback
Energy
Inc.
Pershing
LLC
25‌
USD
236,675‌
USD
80.00
10/15/21
40,619‌
Diamondback
Energy
Inc.
Pershing
LLC
20‌
USD
189,340‌
USD
90.00
12/17/21
24,074‌
Diamondback
Energy
Inc.
Pershing
LLC
75‌
USD
710,025‌
USD
75.00
01/21/22
175,787‌
Elanco
Animal
Health
Inc.
Pershing
LLC
90‌
USD
287,010‌
USD
36.00
12/17/21
8,805‌
Elanco
Animal
Health
Inc.
Pershing
LLC
90‌
USD
287,010‌
USD
35.00
02/18/22
16,262‌
Eldorado
Gold
Corp.
Pershing
LLC
360‌
USD
278,280‌
USD
11.00
12/17/21
2,270‌
Eni
SpA
Morgan
Stanley
40‌
EUR
230,920‌
EUR
11.00
11/19/21
15,325‌
Eni
SpA
Morgan
Stanley
40‌
EUR
230,920‌
EUR
11.00
01/21/22
19,123‌
Eni
SpA
Morgan
Stanley
40‌
EUR
230,920‌
EUR
11.00
03/18/22
21,560‌
EOG
Resources
Inc.
Pershing
LLC
58‌
USD
465,566‌
USD
76.50
11/19/21
45,989‌
EOG
Resources
Inc.
Pershing
LLC
55‌
USD
441,485‌
USD
70.00
12/17/21
79,110‌
EOG
Resources
Inc.
Pershing
LLC
50‌
USD
401,350‌
USD
75.00
01/21/22
57,427‌
Equinox
Gold
Corp.
Pershing
LLC
485‌
USD
320,100‌
USD
8.00
10/15/21
1,320‌
Equinox
Gold
Corp.
Pershing
LLC
485‌
USD
320,100‌
USD
9.00
12/17/21
5,267‌
Exxon
Mobil
Corp.
Pershing
LLC
110‌
USD
647,020‌
USD
55.00
11/19/21
58,595‌
Exxon
Mobil
Corp.
Pershing
LLC
110‌
USD
647,020‌
USD
60.00
11/19/21
24,179‌
Exxon
Mobil
Corp.
Pershing
LLC
100‌
USD
588,200‌
USD
60.00
01/21/22
34,201‌
Exxon
Mobil
Corp.
Pershing
LLC
115‌
USD
676,430‌
USD
61.50
01/21/22
31,829‌
Exxon
Mobil
Corp.
Pershing
LLC
267‌
USD
1,570,494‌
USD
60.00
02/18/22
91,581‌
FMC
Corp.
Pershing
LLC
70‌
USD
640,920‌
USD
95.00
10/15/21
9,691‌
FMC
Corp.
Pershing
LLC
65‌
USD
595,140‌
USD
110.00
12/17/21
2,677‌
Gold
Fields
Ltd.,
ADR
Pershing
LLC
385‌
USD
312,620‌
USD
10.00
11/19/21
1,259‌
Gold
Fields
Ltd.,
ADR
Pershing
LLC
350‌
USD
284,200‌
USD
10.00
12/17/21
3,220‌
Gold
Fields
Ltd.,
ADR
Pershing
LLC
350‌
USD
284,200‌
USD
10.00
01/21/22
6,430‌
Halliburton
Co.
Pershing
LLC
130‌
USD
281,060‌
USD
22.50
10/15/21
9,890‌
Harmony
Gold
Mining
Co.
Ltd.,
ADR
Pershing
LLC
412‌
USD
129,780‌
USD
4.00
12/17/21
3,235‌
Harmony
Gold
Mining
Co.
Ltd.,
ADR
Pershing
LLC
400‌
USD
126,000‌
USD
5.00
01/21/22
2,881‌
Hess
Corp.
Pershing
LLC
15‌
USD
117,165‌
USD
65.00
01/21/22
22,691‌
Kinder
Morgan
Inc.
Pershing
LLC
237‌
USD
396,501‌
USD
18.00
10/15/21
1,592‌
Kinder
Morgan
Inc.
Pershing
LLC
225‌
USD
376,425‌
USD
19.00
12/17/21
3,480‌
Kinder
Morgan
Inc.
Pershing
LLC
237‌
USD
396,501‌
USD
18.00
01/21/22
11,362‌
Kinross
Gold
Corp.
Pershing
LLC
640‌
USD
343,040‌
USD
7.00
10/15/21
246‌
Kinross
Gold
Corp.
Pershing
LLC
640‌
USD
343,040‌
USD
7.00
12/17/21
4,272‌
Kinross
Gold
Corp.
Pershing
LLC
640‌
USD
343,040‌
USD
6.00
01/21/22
14,593‌
Kinross
Gold
Corp.
Pershing
LLC
637‌
USD
341,432‌
USD
6.50
02/18/22
13,473‌
Kirkland
Lake
Gold
Ltd.
Pershing
LLC
335‌
USD
1,393,265‌
USD
41.50
11/19/21
82,135‌
Kirkland
Lake
Gold
Ltd.
Pershing
LLC
233‌
USD
969,047‌
USD
45.00
12/17/21
36,032‌
Kirkland
Lake
Gold
Ltd.
Pershing
LLC
185‌
USD
769,415‌
USD
45.00
01/21/22
35,275‌
Marathon
Petroleum
Corp.
Pershing
LLC
40‌
USD
247,240‌
USD
52.50
11/19/21
38,968‌
Marathon
Petroleum
Corp.
Pershing
LLC
12‌
USD
74,172‌
USD
62.50
11/19/21
3,532‌
Marathon
Petroleum
Corp.
Pershing
LLC
60‌
USD
370,860‌
USD
62.50
01/21/22
26,539‌
Marathon
Petroleum
Corp.
Pershing
LLC
65‌
USD
401,765‌
USD
62.50
02/18/22
31,002‌
Mowi
ASA
Morgan
Stanley
20,000‌
NOK
4,442,000‌
NOK
235.00
12/17/21
15,732‌
Mowi
ASA
Morgan
Stanley
20,000‌
NOK
4,442,000‌
NOK
235.00
02/18/22
22,931‌
Newcrest
Mining
Ltd.
Morgan
Stanley
300‌
AUD
679,200‌
AUD
30.00
11/18/21
101‌
Newcrest
Mining
Ltd.
Morgan
Stanley
87‌
AUD
196,968‌
AUD
27.00
01/20/22
1,627‌
Newcrest
Mining
Ltd.
Morgan
Stanley
425‌
AUD
962,200‌
AUD
25.00
02/17/22
18,915‌
5
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Newmont
Corp.
Pershing
LLC
80‌
USD
434,400‌
USD
62.50
10/15/21
$
349‌
Newmont
Corp.
Pershing
LLC
107‌
USD
581,010‌
USD
70.00
10/15/21
36‌
Newmont
Corp.
Pershing
LLC
220‌
USD
1,194,600‌
USD
62.50
11/19/21
8,178‌
Newmont
Corp.
Pershing
LLC
125‌
USD
678,750‌
USD
60.00
12/17/21
12,851‌
Newmont
Corp.
Pershing
LLC
250‌
USD
1,357,500‌
USD
62.00
01/21/22
25,111‌
Newmont
Corp.
Pershing
LLC
187‌
USD
1,015,410‌
USD
60.50
02/18/22
29,211‌
Northern
Star
Resources
Ltd.
Morgan
Stanley
650‌
AUD
552,500‌
AUD
11.50
11/18/21
851‌
Northern
Star
Resources
Ltd.
Morgan
Stanley
1,400‌
AUD
1,190,000‌
AUD
13.00
12/16/21
1,709‌
Nutrien
Ltd.
Pershing
LLC
250‌
USD
1,620,750‌
USD
58.00
11/19/21
212,060‌
Nutrien
Ltd.
Pershing
LLC
195‌
USD
1,264,185‌
USD
60.00
12/17/21
143,940‌
Nutrien
Ltd.
Pershing
LLC
195‌
USD
1,264,185‌
USD
60.00
01/21/22
145,718‌
Occidental
Petroleum
Corp.
Pershing
LLC
45‌
USD
133,110‌
USD
30.00
12/17/21
13,916‌
ONEOK
Inc.
Pershing
LLC
45‌
USD
260,955‌
USD
55.00
10/15/21
20,933‌
ONEOK
Inc.
Pershing
LLC
45‌
USD
260,955‌
USD
55.00
11/19/21
26,375‌
ONEOK
Inc.
Pershing
LLC
42‌
USD
243,558‌
USD
55.00
01/21/22
29,021‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
300‌
USD
336,900‌
USD
13.00
02/18/22
14,296‌
Pan
American
Silver
Corp.
Pershing
LLC
70‌
USD
162,890‌
USD
25.00
01/21/22
11,586‌
Phillips
66
Pershing
LLC
50‌
USD
350,150‌
USD
80.00
10/15/21
873‌
Phillips
66
Pershing
LLC
40‌
USD
280,120‌
USD
80.00
01/21/22
7,536‌
Phillips
66
Pershing
LLC
40‌
USD
280,120‌
USD
75.00
02/18/22
15,288‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
18‌
USD
299,718‌
USD
150.00
10/15/21
36,696‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
18‌
USD
299,718‌
USD
170.00
12/17/21
20,663‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
25‌
USD
416,275‌
USD
160.00
01/21/22
45,950‌
Rio
Tinto
plc,
ADR
Pershing
LLC
170‌
USD
1,135,940‌
USD
72.50
11/19/21
16,012‌
Rio
Tinto
plc,
ADR
Pershing
LLC
170‌
USD
1,135,940‌
USD
80.65
12/17/21
5,642‌
Rio
Tinto
plc,
ADR
Pershing
LLC
160‌
USD
1,069,120‌
USD
77.00
01/21/22
17,244‌
Royal
Dutch
Shell
plc,
Cl.
A
Morgan
Stanley
37‌
GBP
612,350‌
GBp
1500.00
10/15/21
79,278‌
Royal
Dutch
Shell
plc,
Cl.
A
Morgan
Stanley
61‌
GBP
1,009,550‌
GBp
1400.00
12/17/21
210,040‌
Royal
Dutch
Shell
plc,
Cl.
A
Morgan
Stanley
34‌
GBP
562,700‌
GBp
1600.00
01/21/22
56,678‌
Royal
Dutch
Shell
plc,
Cl.
A
Morgan
Stanley
40‌
GBP
662,000‌
GBp
1500.00
02/18/22
97,914‌
Royal
Gold
Inc.
Pershing
LLC
55‌
USD
525,195‌
USD
115.00
12/17/21
5,193‌
Schlumberger
NV
Pershing
LLC
130‌
USD
385,320‌
USD
32.50
12/17/21
20,845‌
Schlumberger
NV
Pershing
LLC
130‌
USD
385,320‌
USD
35.00
01/21/22
16,234‌
Schlumberger
NV
Pershing
LLC
135‌
USD
400,140‌
USD
30.00
03/18/22
49,125‌
SSR
Mining
Inc.
Pershing
LLC
250‌
USD
363,750‌
USD
20.00
11/19/21
911‌
SSR
Mining
Inc.
Pershing
LLC
340‌
USD
494,700‌
USD
19.00
01/21/22
8,426‌
Suncor
Energy
Inc.
Pershing
LLC
75‌
USD
155,550‌
USD
21.50
11/19/21
7,726‌
Suncor
Energy
Inc.
Pershing
LLC
75‌
USD
155,550‌
USD
21.50
12/17/21
9,381‌
Suncor
Energy
Inc.
Pershing
LLC
75‌
USD
155,550‌
USD
21.50
01/21/22
11,538‌
Sunoco
LP
Pershing
LLC
50‌
USD
186,600‌
USD
35.00
11/19/21
10,532‌
Sunoco
LP
Pershing
LLC
50‌
USD
186,600‌
USD
35.00
12/17/21
11,952‌
Sunoco
LP
Pershing
LLC
50‌
USD
186,600‌
USD
35.00
01/21/22
13,404‌
The
Williams
Companies
Inc.
Pershing
LLC
120‌
USD
311,280‌
USD
27.00
11/19/21
7,673‌
The
Williams
Companies
Inc.
Pershing
LLC
130‌
USD
337,220‌
USD
27.00
12/17/21
8,691‌
The
Williams
Companies
Inc.
Pershing
LLC
115‌
USD
298,310‌
USD
27.00
01/21/22
10,322‌
TotalEnergies
SE,
ADR
Pershing
LLC
175‌
USD
838,775‌
USD
45.00
11/19/21
64,473‌
TotalEnergies
SE,
ADR
Pershing
LLC
125‌
USD
599,125‌
USD
45.00
12/17/21
50,249‌
TotalEnergies
SE,
ADR
Pershing
LLC
150‌
USD
718,950‌
USD
47.00
01/21/22
39,940‌
Tyson
Foods
Inc.,
Cl.
A
Pershing
LLC
130‌
USD
1,026,220‌
USD
80.00
10/15/21
20,217‌
Tyson
Foods
Inc.,
Cl.
A
Pershing
LLC
130‌
USD
1,026,220‌
USD
72.50
12/17/21
111,368‌
Valero
Energy
Corp.
Pershing
LLC
42‌
USD
296,394‌
USD
68.00
11/19/21
20,741‌
Valero
Energy
Corp.
Pershing
LLC
40‌
USD
282,280‌
USD
80.00
12/17/21
6,202‌
6
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Valero
Energy
Corp.
Pershing
LLC
60‌
USD
423,420‌
USD
70.00
02/18/22
$
34,208‌
VanEck
Vectors
Gold
Miners
ETF
Pershing
LLC
405‌
USD
1,193,535‌
USD
34.00
02/18/22
25,728‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
133‌
USD
499,814‌
USD
44.00
11/19/21
5,445‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
260‌
USD
977,080‌
USD
47.00
01/21/22
14,745‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
286‌
USD
1,074,788‌
USD
42.00
02/18/22
46,875‌
Yamana
Gold
Inc.
Pershing
LLC
400‌
USD
158,400‌
USD
4.00
12/17/21
10,704‌
Yamana
Gold
Inc.
Pershing
LLC
400‌
USD
158,400‌
USD
4.50
01/21/22
7,764‌
Zoetis
Inc.
Pershing
LLC
100‌
USD
1,941,400‌
USD
190.00
12/17/21
116,448‌
Zoetis
Inc.
Pershing
LLC
80‌
USD
1,553,120‌
USD
200.00
02/18/22
71,783‌
TOTAL
OTC
CALL
OPTIONS
WRITTEN
$
4,807,266‌
OTC
Put
Options
Written
—
(0.1)%
Energy
Select
Sector
SPDR
ETF
Pershing
LLC
475‌
USD
2,474,275‌
USD
41.00
01/21/22
$
31,562‌
iShares
Global
Clean
Energy
ETF
Pershing
LLC
350‌
USD
757,750‌
USD
21.00
12/17/21
24,436‌
NextEra
Energy
Partners
LP
Pershing
LLC
75‌
USD
565,200‌
USD
72.50
12/17/21
18,600‌
VanEck
Vectors
Gold
Miners
ETF
Pershing
LLC
1,100‌
USD
3,241,700‌
USD
26.00
02/18/22
125,471‌
TOTAL
OTC
PUT
OPTIONS
WRITTEN
$
200,069‌
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Exchange
Traded
Call
Options
Written
—
(1.1)%
AGCO
Corp.
50‌
USD
612,650‌
USD
155.00
11/19/21
$
2,000‌
Deere
&
Co.
40‌
USD
1,340,280‌
USD
400.00
10/15/21
640‌
Deere
&
Co.
40‌
USD
1,340,280‌
USD
350.00
12/17/21
52,000‌
Deere
&
Co.
50‌
USD
1,675,350‌
USD
360.00
01/21/22
60,500‌
Dundee
Precious
Metals
Inc.
750‌
CAD
571,500‌
CAD
8.25
12/17/21
17,764‌
Elanco
Animal
Health
Inc.
90‌
USD
287,010‌
USD
36.00
10/15/21
900‌
Eldorado
Gold
Corp.
360‌
USD
278,280‌
USD
13.00
01/21/22
5,400‌
Eldorado
Gold
Corp.
245‌
USD
189,385‌
USD
10.00
04/14/22
11,025‌
Endeavour
Mining
Corp.
500‌
CAD
1,124,500‌
CAD
32.00
11/19/21
17,764‌
Endeavour
Mining
plc
500‌
CAD
1,425,500‌
CAD
30.00
12/17/21
49,345‌
Endeavour
Mining
plc
500‌
CAD
1,425,500‌
CAD
33.00
01/21/22
31,581‌
Energy
Select
Sector
SPDR
ETF
35‌
USD
182,315‌
USD
49.00
03/18/22
20,825‌
Franco-Nevada
Corp.
62‌
USD
805,442‌
USD
150.00
10/15/21
1,054‌
Franco-Nevada
Corp.
110‌
USD
1,429,010‌
USD
150.00
11/19/21
9,900‌
Franco-Nevada
Corp.
62‌
USD
805,442‌
USD
135.00
01/21/22
38,130‌
Franco-Nevada
Corp.
110‌
USD
1,429,010‌
USD
150.00
01/21/22
26,400‌
Freeport-McMoRan
Inc.
270‌
USD
878,310‌
USD
35.00
10/15/21
12,150‌
Freeport-McMoRan
Inc.
320‌
USD
1,040,960‌
USD
35.00
12/17/21
59,520‌
Freeport-McMoRan
Inc.
370‌
USD
1,203,610‌
USD
35.00
01/21/22
86,210‌
Halliburton
Co.
130‌
USD
281,060‌
USD
22.00
11/19/21
18,200‌
IDEXX
Laboratories
Inc.
23‌
USD
1,430,370‌
USD
670.00
10/15/21
6,923‌
IDEXX
Laboratories
Inc.
23‌
USD
1,430,370‌
USD
660.00
11/19/21
43,010‌
IDEXX
Laboratories
Inc.
23‌
USD
1,430,370‌
USD
670.00
01/21/22
55,430‌
K92
Mining
Inc.
630‌
CAD
383,670‌
CAD
9.00
12/17/21
5,223‌
OceanaGold
Corp.
1,500‌
CAD
310,500‌
CAD
3.00
12/17/21
8,882‌
OceanaGold
Corp.
1,500‌
CAD
310,500‌
CAD
2.50
02/18/22
24,870‌
Osisko
Gold
Royalties
Ltd.
330‌
CAD
469,590‌
CAD
17.50
11/19/21
2,475‌
Pilgrim's
Pride
Corp.
70‌
USD
203,560‌
USD
26.00
10/15/21
30,625‌
Pioneer
Natural
Resources
Co.
9‌
USD
149,859‌
USD
160.00
10/15/21
8,613‌
Pioneer
Natural
Resources
Co.
9‌
USD
149,859‌
USD
160.00
12/17/21
13,500‌
Pretium
Resources
Inc.
375‌
USD
361,500‌
USD
11.00
10/15/21
3,750‌
7
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2021
(Unaudited)
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Pretium
Resources
Inc.
375‌
USD
361,500‌
USD
11.00
12/17/21
$
13,125‌
Pretium
Resources
Inc.
375‌
USD
361,500‌
USD
11.00
01/21/22
17,812‌
The
Mosaic
Co.
140‌
USD
500,080‌
USD
37.00
11/19/21
27,580‌
The
Mosaic
Co.
140‌
USD
500,080‌
USD
32.00
01/21/22
78,540‌
The
Mosaic
Co.
150‌
USD
535,800‌
USD
35.00
03/18/22
67,500‌
VanEck
Vectors
Gold
Miners
ETF
405‌
USD
1,193,535‌
USD
31.00
11/19/21
32,805‌
VanEck
Vectors
Gold
Miners
ETF
445‌
USD
1,311,415‌
USD
34.00
01/21/22
27,145‌
Victoria
Gold
Corp.
195‌
CAD
293,865‌
CAD
17.00
01/21/22
13,856‌
Victoria
Gold
Corp.
195‌
CAD
293,865‌
CAD
17.00
03/18/22
20,399‌
Wesdome
Gold
Mines
Ltd.
360‌
CAD
365,400‌
CAD
12.00
10/15/21
568‌
Wesdome
Gold
Mines
Ltd.
200‌
CAD
203,000‌
CAD
14.00
12/17/21
553‌
Zoetis
Inc.
160‌
USD
3,106,240‌
USD
160.00
10/15/21
551,200‌
TOTAL
EXCHANGE
TRADED
CALL
OPTIONS
WRITTEN
$
1,575,692‌
Exchange
Traded
Put
Options
Written
—
(0.4)%
Energy
Select
Sector
SPDR
ETF
420‌
USD
2,187,780‌
USD
47.00
12/17/21
$
54,600‌
Energy
Select
Sector
SPDR
ETF
245‌
USD
1,276,205‌
USD
40.00
03/18/22
24,010‌
iShares
Global
Clean
Energy
ETF
300‌
USD
649,500‌
USD
19.00
10/15/21
1,500‌
iShares
Global
Clean
Energy
ETF
370‌
USD
801,050‌
USD
21.00
01/21/22
33,300‌
NextEra
Energy
Partners
LP
75‌
USD
565,200‌
USD
65.00
10/15/21
2,250‌
NextEra
Energy
Partners
LP
70‌
USD
527,520‌
USD
70.00
01/21/22
19,600‌
VanEck
Vectors
Gold
Miners
ETF
1,300‌
USD
3,831,100‌
USD
30.00
12/17/21
257,400‌
VanEck
Vectors
Gold
Miners
ETF
1,100‌
USD
3,241,700‌
USD
27.00
01/21/22
117,700‌
TOTAL
EXCHANGE
TRADED
PUT
OPTIONS
WRITTEN
$
510,360‌
TOTAL
OPTIONS
WRITTEN
$
7,093,387‌