NPORT-EX 2 GB41GABELLI09302022.htm
1
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
 —
70.5%
Agriculture
 —
6.6%
33,000‌
Archer-Daniels-Midland
Co.(a)
........
$
2,654,850‌
10,000‌
Bunge
Ltd.(a)
....................
825,700‌
38,500‌
Corteva
Inc.
.....................
2,200,275‌
32,490‌
Nutrien
Ltd.(a)
...................
2,709,016‌
8,389,841‌
Automotive
 —
0.1%
19,000‌
Iveco
Group
NV†
.................
90,684‌
Energy
and
Energy
Services
 —
19.9%
7,500‌
APA
Corp.
......................
256,425‌
19,400‌
Baker
Hughes
Co.
.................
406,624‌
38,600‌
BP
plc,
ADR
.....................
1,102,030‌
20,545‌
Chevron
Corp.(a)
.................
2,951,700‌
14,200‌
ConocoPhillips(a)
.................
1,453,228‌
15,089‌
Coterra
Energy
Inc.
................
394,125‌
11,500‌
Devon
Energy
Corp.
...............
691,495‌
3,200‌
Diamondback
Energy
Inc.
...........
385,472‌
46,500‌
Eni
SpA
........................
497,194‌
8,200‌
EOG
Resources
Inc.(a)
.............
916,186‌
44,300‌
Exxon
Mobil
Corp.(a)
..............
3,867,833‌
18,000‌
Halliburton
Co.(a)
.................
443,160‌
3,300‌
Hess
Corp.
......................
359,667‌
34,482‌
Kinder
Morgan
Inc.(a)
..............
573,781‌
20,000‌
Marathon
Oil
Corp.
................
451,600‌
13,695‌
Marathon
Petroleum
Corp.(a)
.........
1,360,324‌
100‌
NextEra
Energy
Partners
LP
..........
7,231‌
9,949‌
Occidental
Petroleum
Corp.
..........
611,366‌
8,500‌
ONEOK
Inc.
.....................
435,540‌
11,700‌
Phillips
66(a)
....................
944,424‌
5,100‌
Pioneer
Natural
Resources
Co.(a)
......
1,104,303‌
27,400‌
Schlumberger
NV(a)
...............
983,660‌
33,000‌
Shell
plc,
ADR(a)
.................
1,642,080‌
15,500‌
Suncor
Energy
Inc.(a)
..............
436,325‌
23,000‌
The
Williams
Companies
Inc.(a)
.......
658,490‌
30,000‌
TotalEnergies
SE,
ADR(a)
............
1,395,600‌
9,000‌
Valero
Energy
Corp.(a)
.............
961,650‌
25,291,513‌
Food
and
Beverage
 —
1.3%
5,000‌
Mowi
ASA
......................
63,599‌
25,000‌
Tyson
Foods
Inc.,
Cl. A(a)
...........
1,648,250‌
1,711,849‌
Health
Care
 —
3.5%
18,000‌
Bayer
AG
.......................
836,444‌
27,000‌
Elanco
Animal
Health
Inc.†
...........
335,070‌
2,500‌
IDEXX
Laboratories
Inc.†(a)
..........
814,500‌
16,700‌
Zoetis
Inc.(a)
....................
2,476,443‌
4,462,457‌
Shares
Market
Value
Machinery
 —
2.5%
5,000‌
AGCO
Corp.
.....................
$
480,850‌
64,700‌
CNH
Industrial
NV
.................
722,699‌
6,000‌
Deere
&
Co.(a)
...................
2,003,340‌
3,206,889‌
Metals
and
Mining
 —
32.8%
46,716‌
Aclara
Resources
Inc.†
.............
10,822‌
49,572‌
Agnico
Eagle
Mines
Ltd.
............
2,093,426‌
214,000‌
Alamos
Gold
Inc.,
Cl. A(a)
...........
1,585,740‌
91,500‌
Artemis
Gold
Inc.†
................
282,843‌
389,000‌
B2Gold
Corp.
....................
1,252,580‌
195,294‌
Barrick
Gold
Corp.(a)
..............
3,027,057‌
52,000‌
BHP
Group
Ltd.,
ADR(a)
............
2,602,080‌
511,802‌
De
Grey
Mining
Ltd.†
..............
340,469‌
75,000‌
Dundee
Precious
Metals
Inc.
.........
333,369‌
83,000‌
Eldorado
Gold
Corp.†
..............
500,490‌
87,185‌
Endeavour
Mining
plc
..............
1,608,190‌
42,700‌
Equinox
Gold
Corp.†
...............
155,855‌
451,000‌
Evolution
Mining
Ltd.
..............
591,388‌
31,800‌
Franco-Nevada
Corp.(a)
.............
3,799,464‌
74,500‌
Freeport-McMoRan
Inc.(a)
...........
2,036,085‌
62,137‌
Fresnillo
plc
.....................
533,664‌
46,500‌
Gold
Fields
Ltd.,
ADR
..............
376,185‌
382,950‌
Gold
Road
Resources
Ltd.
...........
313,541‌
66,000‌
K92
Mining
Inc.†
.................
377,457‌
90,000‌
Karora
Resources
Inc.†
.............
185,688‌
175,400‌
Kinross
Gold
Corp.
................
659,504‌
65,000‌
Lundin
Gold
Inc.
..................
451,732‌
15,500‌
MAG
Silver
Corp.†
................
193,440‌
82,272‌
Newcrest
Mining
Ltd.
..............
890,420‌
84,400‌
Newmont
Corp.(a)
................
3,547,332‌
461,005‌
Northern
Star
Resources
Ltd.
.........
2,308,925‌
99,400‌
Osisko
Gold
Royalties
Ltd.
...........
1,011,892‌
166,100‌
Osisko
Mining
Inc.†
...............
371,556‌
920,671‌
Perseus
Mining
Ltd.
...............
895,139‌
49,000‌
Rio
Tinto
plc,
ADR(a)
..............
2,697,940‌
5,500‌
Royal
Gold
Inc.
...................
516,010‌
63,000‌
SilverCrest
Metals
Inc.†
.............
348,390‌
67,000‌
SSR
Mining
Inc.
..................
985,570‌
43,200‌
Victoria
Gold
Corp.†
...............
256,132‌
102,700‌
Wesdome
Gold
Mines
Ltd.†
..........
694,406‌
198,783‌
Westgold
Resources
Ltd.†
...........
106,172‌
72,450‌
Wheaton
Precious
Metals
Corp.(a)
.....
2,344,482‌
285,000‌
Yamana
Gold
Inc.(a)
...............
1,291,050‌
41,576,485‌
Specialty
Chemicals
 —
3.8%
10,000‌
CF
Industries
Holdings
Inc.
..........
962,500‌
21,500‌
FMC
Corp.(a)
....................
2,272,550‌
25,500‌
The
Mosaic
Co.
...................
1,232,415‌
2
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
(Continued)
Specialty
Chemicals
(Continued)
8,900‌
Yara
International
ASA
..............
$
313,300‌
4,780,765‌
TOTAL
COMMON
STOCKS
.........
89,510,483‌
EXCHANGE
TRADED
FUNDS
 —
0.6%
Agriculture
 —
0.6%
9,400‌
VanEck
Vectors
Agribusiness
ETF(a)
....
758,392‌
Principal
Amount
CONVERTIBLE
CORPORATE
BONDS
 —
0.4%
Metals
and
Mining
 —
0.4%
$
200,000‌
Fortuna
Silver
Mines
Inc.,
4.650%,
10/31/24
...............
186,460‌
350,000‌
Osisko
Gold
Royalties
Ltd.,
4.000%,
12/31/22
...............
252,240‌
438,700‌
TOTAL
CONVERTIBLE
CORPORATE
BONDS
....................
438,700‌
CORPORATE
BONDS
 —
1.0%
Metals
and
Mining
 —
1.0%
675,000‌
Hecla
Mining
Co.,
7.250%,
02/15/28
...............
627,537‌
500,000‌
IAMGOLD
Corp.,
5.750%,
10/15/28(b)
.............
236,750‌
500,000‌
New
Gold
Inc.,
7.500%,
07/15/27(b)
.............
395,930‌
1,260,217‌
TOTAL
CORPORATE
BONDS
........
1,260,217‌
U.S.
GOVERNMENT
OBLIGATIONS
 —
27.5%
35,095,000‌
U.S.
Treasury
Bills,
2.247%
to
3.242%††,
10/13/22
to
01/19/23(c)
....................
34,952,567‌
TOTAL
INVESTMENTS
BEFORE
OPTIONS
WRITTEN
AND
SECURITIES
SOLD
SHORT
—
100.0%
............
(Cost
$158,476,817)
.............
$
126,920,359‌
Shares
Market
Value
SECURITIES
SOLD
SHORT
—
(0.6)%
Agriculture
—
(0.6)%
9,400‌
VanEck
Vectors
Agribusiness
ETF
.........
$
758,392‌
TOTAL
SECURITIES
SOLD
SHORT
(Proceeds
received
$878,011)(d)
.......
$
758,392‌
(a)
Securities,
or
a
portion
thereof,
with
a
value
of
$36,060,332
were
deposited
with
the
broker
as
collateral
for
options
written.
(b)
Securities
exempt
from
registration
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
(c)
At
September
30,
2022,
$15,395,000
of
the
principal
amount
was
pledged
as
collateral
for
options
written.
(d)
At
September
30,
2022,
these
proceeds
are
being
held
at
Pershing
LLC.
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt
Geographic
Diversification
%
of
Total
Investments
*
Market
Value
Long
Positions
North
America
......................
84.3‌
%
$
106,981,794‌
Europe
..............................
8.7‌
10,980,582‌
Asia/Pacific
.........................
6.3‌
8,048,134‌
Latin
America
.......................
0.4‌
533,664‌
South
Africa
.........................
0.3‌
376,185‌
Total
Investments
—
Long
Positions
100.0‌%
$
126,920,359‌
Short
Positions
North
America
......................
(4.1‌)
%
$
(5,212,465‌)
Europe
..............................
(0.0‌)
**
(31,511‌)
Total
Investments
—
Short
Positions
(4.1‌)%
$
(5,243,976‌)
*
Total
investments
exclude
options
written.
**
Amount
represents
greater
than
(0.05)%.
3
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
As
of
September
30,
2022,
options
written
outstanding
were
as
follows:
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
OTC
Call
Options
Written
—
(1.7)%
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
135‌
USD
570,105‌
USD
55.00
11/18/22
$
5,714‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
80‌
USD
337,840‌
USD
57.00
12/16/22
4,366‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
15‌
USD
63,345‌
USD
60.00
12/16/22
597‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
100‌
USD
422,300‌
USD
65.00
01/20/23
4,800‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
60‌
USD
253,380‌
USD
70.00
01/20/23
1,917‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
350‌
USD
259,350‌
USD
8.50
12/16/22
14,113‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
360‌
USD
266,760‌
USD
10.00
12/16/22
5,730‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
680‌
USD
503,880‌
USD
10.00
01/20/23
16,562‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
750‌
USD
555,750‌
USD
8.50
03/17/23
56,334‌
APA
Corp.
Pershing
LLC
162‌
USD
553,878‌
USD
40.00
11/18/22
22,436‌
APA
Corp.
Pershing
LLC
35‌
USD
119,665‌
USD
40.00
12/16/22
7,243‌
Archer-Daniels-Midland
Co.
Pershing
LLC
110‌
USD
884,950‌
USD
87.50
11/18/22
18,121‌
Archer-Daniels-Midland
Co.
Pershing
LLC
120‌
USD
965,400‌
USD
85.00
01/20/23
54,279‌
Archer-Daniels-Midland
Co.
Pershing
LLC
100‌
USD
804,500‌
USD
90.00
03/17/23
39,009‌
B2Gold
Corp.
Pershing
LLC
1,150‌
USD
370,300‌
USD
5.00
10/21/22
132‌
B2Gold
Corp.
Pershing
LLC
1,140‌
USD
367,080‌
USD
4.30
12/16/22
9,083‌
B2Gold
Corp.
Pershing
LLC
1,150‌
USD
370,300‌
USD
5.00
01/20/23
8,017‌
Baker
Hughes
Co.
Pershing
LLC
73‌
USD
153,008‌
USD
32.00
12/16/22
1,174‌
Baker
Hughes
Co.
Pershing
LLC
70‌
USD
146,720‌
USD
30.00
01/20/23
2,139‌
Baker
Hughes
Co.
Pershing
LLC
51‌
USD
106,896‌
USD
30.00
02/17/23
2,070‌
Barrick
Gold
Corp.
Pershing
LLC
490‌
USD
759,500‌
USD
25.00
10/31/22
109‌
Barrick
Gold
Corp.
Pershing
LLC
425‌
USD
658,750‌
USD
25.00
11/18/22
2,196‌
Barrick
Gold
Corp.
Pershing
LLC
390‌
USD
604,500‌
USD
19.00
12/16/22
11,253‌
Barrick
Gold
Corp.
Pershing
LLC
170‌
USD
263,500‌
USD
25.00
12/16/22
1,069‌
Barrick
Gold
Corp.
Pershing
LLC
361‌
USD
559,550‌
USD
19.00
01/20/23
16,016‌
Barrick
Gold
Corp.
Pershing
LLC
200‌
USD
310,000‌
USD
21.00
01/20/23
4,728‌
Barrick
Gold
Corp.
Pershing
LLC
400‌
USD
620,000‌
USD
22.00
02/17/23
9,939‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
100‌
USD
500,400‌
USD
73.00
11/18/22
542‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
100‌
USD
500,400‌
USD
85.00
11/18/22
125‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
160‌
USD
800,640‌
USD
82.00
01/20/23
2,331‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
160‌
USD
800,640‌
USD
60.00
02/17/23
27,498‌
BP
plc,
ADR
Pershing
LLC
70‌
USD
199,850‌
USD
32.00
11/18/22
3,414‌
BP
plc,
ADR
Pershing
LLC
140‌
USD
399,700‌
USD
32.00
12/16/22
10,993‌
BP
plc,
ADR
Pershing
LLC
106‌
USD
302,630‌
USD
32.50
01/20/23
10,625‌
BP
plc,
ADR
Pershing
LLC
70‌
USD
199,850‌
USD
30.00
02/17/23
13,541‌
Bunge
Ltd.
Pershing
LLC
50‌
USD
412,850‌
USD
102.50
10/21/22
722‌
Bunge
Ltd.
Pershing
LLC
50‌
USD
412,850‌
USD
100.00
01/20/23
7,229‌
CF
Industries
Holdings
Inc.
Pershing
LLC
50‌
USD
481,250‌
USD
100.00
11/18/22
31,123‌
CF
Industries
Holdings
Inc.
Pershing
LLC
50‌
USD
481,250‌
USD
100.00
01/20/23
49,097‌
Chevron
Corp.
Pershing
LLC
75‌
USD
1,077,525‌
USD
165.00
11/18/22
9,693‌
Chevron
Corp.
Pershing
LLC
70‌
USD
1,005,690‌
USD
170.00
01/20/23
20,864‌
Chevron
Corp.
Pershing
LLC
60‌
USD
862,020‌
USD
180.00
02/17/23
12,978‌
CNH
Industrial
NV
Pershing
LLC
300‌
USD
335,100‌
USD
15.00
12/16/22
4,138‌
CNH
Industrial
NV
Pershing
LLC
300‌
USD
335,100‌
USD
14.00
02/17/23
15,260‌
ConocoPhillips
Pershing
LLC
77‌
USD
788,018‌
USD
105.00
12/16/22
60,701‌
ConocoPhillips
Pershing
LLC
50‌
USD
511,700‌
USD
102.50
01/20/23
54,434‌
ConocoPhillips
Pershing
LLC
40‌
USD
409,360‌
USD
105.00
03/17/23
48,485‌
Corteva
Inc.
Pershing
LLC
170‌
USD
971,550‌
USD
55.00
10/21/22
58,503‌
Coterra
Energy
Inc.
Pershing
LLC
55‌
USD
143,660‌
USD
30.00
10/21/22
1,421‌
4
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Coterra
Energy
Inc.
Pershing
LLC
29‌
USD
75,748‌
USD
30.00
12/16/22
$
3,429‌
Coterra
Energy
Inc.
Pershing
LLC
66‌
USD
172,392‌
USD
32.50
01/20/23
6,985‌
Deere
&
Co.
Pershing
LLC
40‌
USD
1,335,560‌
USD
370.00
12/16/22
43,983‌
Deere
&
Co.
Pershing
LLC
20‌
USD
667,780‌
USD
390.00
01/20/23
18,340‌
Devon
Energy
Corp.
Pershing
LLC
65‌
USD
390,845‌
USD
60.00
10/21/22
23,186‌
Devon
Energy
Corp.
Pershing
LLC
50‌
USD
300,650‌
USD
60.00
12/16/22
29,999‌
Diamondback
Energy
Inc.
Pershing
LLC
15‌
USD
180,690‌
USD
137.70
11/18/22
4,766‌
Diamondback
Energy
Inc.
Pershing
LLC
10‌
USD
120,460‌
USD
137.70
02/17/23
8,609‌
Diamondback
Energy
Inc.
Pershing
LLC
7‌
USD
84,322‌
USD
140.00
03/17/23
5,680‌
Eldorado
Gold
Corp.
Pershing
LLC
1,260‌
USD
759,780‌
USD
9.00
12/16/22
13,731‌
Eni
SpA
Morgan
Stanley
40‌
EUR
218,200‌
EUR
12.80
11/18/22
1,661‌
Eni
SpA
Morgan
Stanley
40‌
EUR
218,200‌
EUR
14.00
12/16/22
803‌
Eni
SpA
Morgan
Stanley
40‌
EUR
218,200‌
EUR
12.50
02/17/23
6,186‌
EOG
Resources
Inc.
Pershing
LLC
42‌
USD
469,266‌
USD
113.50
01/20/23
45,933‌
EOG
Resources
Inc.
Pershing
LLC
40‌
USD
446,920‌
USD
118.50
02/17/23
41,578‌
Exxon
Mobil
Corp.
Pershing
LLC
75‌
USD
654,825‌
USD
90.00
10/21/22
16,580‌
Exxon
Mobil
Corp.
Pershing
LLC
60‌
USD
523,860‌
USD
95.00
10/21/22
4,625‌
Exxon
Mobil
Corp.
Pershing
LLC
80‌
USD
698,480‌
USD
85.00
12/16/22
60,513‌
Exxon
Mobil
Corp.
Pershing
LLC
148‌
USD
1,292,188‌
USD
92.00
01/20/23
79,419‌
Exxon
Mobil
Corp.
Pershing
LLC
80‌
USD
698,480‌
USD
105.00
02/17/23
17,568‌
FMC
Corp.
Pershing
LLC
75‌
USD
792,750‌
USD
120.00
10/21/22
4,720‌
FMC
Corp.
Pershing
LLC
70‌
USD
739,900‌
USD
120.00
12/16/22
20,619‌
FMC
Corp.
Pershing
LLC
70‌
USD
739,900‌
USD
120.00
01/20/23
25,306‌
Franco-Nevada
Corp.
Pershing
LLC
90‌
USD
1,075,320‌
USD
155.00
11/18/22
4,255‌
Franco-Nevada
Corp.
Pershing
LLC
14‌
USD
167,272‌
USD
145.00
12/16/22
2,737‌
Franco-Nevada
Corp.
Pershing
LLC
100‌
USD
1,194,800‌
USD
155.00
12/16/22
9,856‌
Freeport-McMoRan
Inc.
Pershing
LLC
195‌
USD
532,935‌
USD
40.00
10/21/22
319‌
Freeport-McMoRan
Inc.
Pershing
LLC
300‌
USD
819,900‌
USD
50.00
12/16/22
1,781‌
Freeport-McMoRan
Inc.
Pershing
LLC
250‌
USD
683,250‌
USD
51.00
01/20/23
3,967‌
Gold
Fields
Ltd.,
ADR
Pershing
LLC
465‌
USD
376,185‌
USD
10.50
11/18/22
6,861‌
Halliburton
Co.
Pershing
LLC
65‌
USD
160,030‌
USD
33.50
10/21/22
208‌
Halliburton
Co.
Pershing
LLC
55‌
USD
135,410‌
USD
40.00
01/20/23
1,503‌
Halliburton
Co.
Pershing
LLC
60‌
USD
147,720‌
USD
32.00
02/17/23
7,149‌
Hess
Corp.
Pershing
LLC
17‌
USD
185,283‌
USD
100.00
11/18/22
24,241‌
Hess
Corp.
Pershing
LLC
16‌
USD
174,384‌
USD
110.00
01/20/23
19,451‌
Kinder
Morgan
Inc.
Pershing
LLC
237‌
USD
394,368‌
USD
19.00
11/18/22
2,603‌
Kinder
Morgan
Inc.
Pershing
LLC
82‌
USD
136,448‌
USD
18.00
01/20/23
5,182‌
Kinder
Morgan
Inc.
Pershing
LLC
25‌
USD
41,600‌
USD
19.00
03/17/23
1,183‌
Kinross
Gold
Corp.
Pershing
LLC
800‌
USD
300,800‌
USD
6.00
12/16/22
2,423‌
Kinross
Gold
Corp.
Pershing
LLC
794‌
USD
298,544‌
USD
4.50
05/19/23
36,840‌
Marathon
Oil
Corp.
Pershing
LLC
200‌
USD
451,600‌
USD
24.00
10/21/22
15,245‌
Marathon
Petroleum
Corp.
Pershing
LLC
22‌
USD
218,526‌
USD
87.50
10/21/22
28,218‌
Marathon
Petroleum
Corp.
Pershing
LLC
43‌
USD
427,119‌
USD
100.00
10/21/22
17,519‌
Marathon
Petroleum
Corp.
Pershing
LLC
35‌
USD
347,655‌
USD
97.50
12/16/22
31,474‌
Newmont
Corp.
Pershing
LLC
255‌
USD
1,071,765‌
USD
53.00
11/18/22
8,362‌
Newmont
Corp.
Pershing
LLC
244‌
USD
1,025,532‌
USD
65.00
12/16/22
3,043‌
Newmont
Corp.
Pershing
LLC
250‌
USD
1,050,750‌
USD
55.00
01/20/23
16,493‌
Newmont
Corp.
Pershing
LLC
95‌
USD
399,285‌
USD
55.00
02/17/23
8,441‌
Nutrien
Ltd.
Pershing
LLC
144‌
USD
1,200,672‌
USD
97.00
12/16/22
39,860‌
Nutrien
Ltd.
Pershing
LLC
90‌
USD
750,420‌
USD
95.00
01/20/23
39,160‌
Nutrien
Ltd.
Pershing
LLC
90‌
USD
750,420‌
USD
95.00
03/17/23
55,623‌
ONEOK
Inc.
Pershing
LLC
45‌
USD
230,580‌
USD
63.00
11/18/22
2,180‌
5
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
ONEOK
Inc.
Pershing
LLC
40‌
USD
204,960‌
USD
60.00
01/20/23
$
6,631‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
300‌
USD
305,400‌
USD
14.00
10/21/22
1,299‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
240‌
USD
244,320‌
USD
12.25
12/16/22
13,867‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
300‌
USD
305,400‌
USD
14.00
01/20/23
14,059‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
155‌
USD
157,790‌
USD
14.50
01/20/23
6,541‌
Phillips
66
Pershing
LLC
42‌
USD
339,024‌
USD
92.50
11/18/22
6,061‌
Phillips
66
Pershing
LLC
40‌
USD
322,880‌
USD
105.00
01/20/23
5,354‌
Phillips
66
Pershing
LLC
35‌
USD
282,520‌
USD
92.00
03/17/23
16,355‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
19‌
USD
411,407‌
USD
280.00
12/16/22
4,128‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
16‌
USD
346,448‌
USD
235.00
03/17/23
25,790‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
16‌
USD
346,448‌
USD
235.00
05/19/23
30,822‌
Rio
Tinto
plc,
ADR
Pershing
LLC
85‌
USD
468,010‌
USD
74.30
10/21/22
133‌
Rio
Tinto
plc,
ADR
Pershing
LLC
170‌
USD
936,020‌
USD
70.00
11/18/22
4,939‌
Rio
Tinto
plc,
ADR
Pershing
LLC
85‌
USD
468,010‌
USD
72.00
01/20/23
7,007‌
Rio
Tinto
plc,
ADR
Pershing
LLC
150‌
USD
825,900‌
USD
65.00
02/17/23
34,752‌
Royal
Gold
Inc.
Pershing
LLC
15‌
USD
140,730‌
USD
115.00
01/20/23
3,104‌
Schlumberger
NV
Pershing
LLC
74‌
USD
265,660‌
USD
37.00
11/18/22
18,155‌
Schlumberger
NV
Pershing
LLC
110‌
USD
394,900‌
USD
40.00
12/16/22
21,129‌
Schlumberger
NV
Pershing
LLC
90‌
USD
323,100‌
USD
40.00
01/20/23
23,564‌
Shell
plc,
ADR
Pershing
LLC
100‌
USD
497,600‌
USD
58.00
12/16/22
7,897‌
Shell
plc,
ADR
Pershing
LLC
110‌
USD
547,360‌
USD
60.00
02/17/23
12,587‌
Shell
plc,
ADR
Pershing
LLC
120‌
USD
597,120‌
USD
59.00
03/17/23
19,895‌
SilverCrest
Metals
Inc.
Pershing
LLC
315‌
USD
174,195‌
USD
9.00
10/21/22
35‌
SilverCrest
Metals
Inc.
Pershing
LLC
315‌
USD
174,195‌
USD
9.35
12/16/22
1,498‌
SSR
Mining
Inc.
Pershing
LLC
190‌
USD
279,490‌
USD
23.00
01/20/23
3,561‌
SSR
Mining
Inc.
Pershing
LLC
280‌
USD
411,880‌
USD
17.00
03/17/23
35,822‌
SSR
Mining
Inc.
Pershing
LLC
200‌
USD
294,200‌
USD
17.00
05/19/23
31,998‌
Suncor
Energy
Inc.
Pershing
LLC
55‌
USD
154,825‌
USD
37.00
11/18/22
1,307‌
Suncor
Energy
Inc.
Pershing
LLC
45‌
USD
126,675‌
USD
40.00
12/16/22
1,053‌
Suncor
Energy
Inc.
Pershing
LLC
55‌
USD
154,825‌
USD
41.00
01/20/23
2,086‌
The
Mosaic
Co.
Pershing
LLC
65‌
USD
314,145‌
USD
80.00
10/31/22
117‌
The
Williams
Companies
Inc.
Pershing
LLC
90‌
USD
257,670‌
USD
33.00
11/18/22
2,360‌
The
Williams
Companies
Inc.
Pershing
LLC
60‌
USD
171,780‌
USD
35.00
01/20/23
2,294‌
The
Williams
Companies
Inc.
Pershing
LLC
80‌
USD
229,040‌
USD
38.00
03/17/23
2,177‌
TotalEnergies
SE,
ADR
Pershing
LLC
70‌
USD
325,640‌
USD
55.00
10/21/22
932‌
TotalEnergies
SE,
ADR
Pershing
LLC
80‌
USD
372,160‌
USD
60.00
11/18/22
2,521‌
TotalEnergies
SE,
ADR
Pershing
LLC
100‌
USD
465,200‌
USD
60.00
01/20/23
5,446‌
TotalEnergies
SE,
ADR
Pershing
LLC
50‌
USD
232,600‌
USD
58.00
02/17/23
5,396‌
Tyson
Foods
Inc.,
Cl.
A
Pershing
LLC
120‌
USD
791,160‌
USD
95.00
11/18/22
278‌
Valero
Energy
Corp.
Pershing
LLC
17‌
USD
181,645‌
USD
114.00
12/16/22
11,331‌
Valero
Energy
Corp.
Pershing
LLC
16‌
USD
170,960‌
USD
140.00
12/16/22
2,026‌
Valero
Energy
Corp.
Pershing
LLC
32‌
USD
341,920‌
USD
105.00
01/20/23
40,664‌
Valero
Energy
Corp.
Pershing
LLC
25‌
USD
267,125‌
USD
125.00
03/17/23
17,833‌
Wesdome
Gold
Mines
Ltd.
Pershing
LLC
340‌
CAD
317,560‌
CAD
13.00
01/20/23
3,200‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
200‌
USD
647,200‌
USD
40.00
11/18/22
6,593‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
200‌
USD
647,200‌
USD
52.50
12/16/22
879‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
125‌
USD
404,500‌
USD
40.00
01/20/23
10,856‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
200‌
USD
647,200‌
USD
38.00
03/17/23
38,373‌
Yamana
Gold
Inc.
Pershing
LLC
850‌
USD
385,050‌
USD
5.50
10/21/22
2,249‌
Yamana
Gold
Inc.
Pershing
LLC
980‌
USD
443,940‌
USD
5.50
12/16/22
21,496‌
Yamana
Gold
Inc.
Pershing
LLC
260‌
USD
117,780‌
USD
5.50
01/20/23
6,852‌
6
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Zoetis
Inc.
Pershing
LLC
31‌
USD
459,699‌
USD
206.00
12/16/22
$
2,102‌
TOTAL
OTC
CALL
OPTIONS
WRITTEN
$
2,190,663‌
OTC
Put
Options
Written
—
(0.4)%
Energy
Select
Sector
SPDR
ETF
Pershing
LLC
300‌
USD
2,160,600‌
USD
66.00
11/30/22
$
79,708‌
Energy
Select
Sector
SPDR
ETF
Pershing
LLC
275‌
USD
1,980,550‌
USD
63.00
02/17/23
101,963‌
Fresnillo
plc
Morgan
Stanley
40‌
GBP
307,680‌
GBp
600.00
12/16/22
8,604‌
VanEck
Vectors
Agribusiness
ETF
Pershing
LLC
140‌
USD
1,129,520‌
USD
94.00
01/20/23
211,308‌
VanEck
Vectors
Agribusiness
ETF
Pershing
LLC
80‌
USD
645,440‌
USD
79.00
03/17/23
43,857‌
TOTAL
OTC
PUT
OPTIONS
WRITTEN
$
445,440‌
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Exchange
Traded
Call
Options
Written
—
(0.3)%
AGCO
Corp.
50‌
USD
480,850‌
USD
120.00
02/17/23
$
18,500‌
Corteva
Inc.
100‌
USD
571,500‌
USD
60.00
12/16/22
26,500‌
Corteva
Inc.
115‌
USD
657,225‌
USD
60.00
01/20/23
36,800‌
Dundee
Precious
Metals
Inc.
350‌
CAD
214,900‌
CAD
9.50
12/16/22
1,520‌
Dundee
Precious
Metals
Inc.
375‌
CAD
230,250‌
CAD
7.00
01/20/23
8,551‌
Eldorado
Gold
Corp.
470‌
USD
283,410‌
USD
10.00
01/20/23
4,700‌
Endeavour
Mining
plc
200‌
CAD
509,600‌
CAD
33.00
12/16/22
1,955‌
Endeavour
Mining
plc
200‌
CAD
509,600‌
CAD
35.00
12/16/22
1,375‌
Endeavour
Mining
plc
380‌
CAD
968,240‌
CAD
33.00
01/20/23
8,390‌
Endeavour
Mining
plc
91‌
CAD
231,868‌
CAD
34.00
03/17/23
2,536‌
Energy
Select
Sector
SPDR
ETF
66‌
USD
475,332‌
USD
78.00
12/16/22
20,988‌
Energy
Select
Sector
SPDR
ETF
120‌
USD
864,240‌
USD
79.00
01/20/23
43,800‌
Energy
Select
Sector
SPDR
ETF
120‌
USD
864,240‌
USD
79.00
03/17/23
58,680‌
Equinox
Gold
Corp.
429‌
USD
156,585‌
USD
10.00
01/20/23
2,145‌
Franco-Nevada
Corp.
114‌
USD
1,362,072‌
USD
155.00
01/20/23
17,670‌
IDEXX
Laboratories
Inc.
23‌
USD
749,340‌
USD
550.00
10/21/22
11,040‌
IDEXX
Laboratories
Inc.
23‌
USD
749,340‌
USD
620.00
12/16/22
11,040‌
K92
Mining
Inc.
670‌
CAD
529,300‌
CAD
11.00
11/18/22
4,123‌
Marathon
Petroleum
Corp.
36‌
USD
357,588‌
USD
97.50
01/20/23
40,680‌
Occidental
Petroleum
Corp.
30‌
USD
184,350‌
USD
60.00
12/16/22
21,300‌
Occidental
Petroleum
Corp.
30‌
USD
184,350‌
USD
72.50
01/20/23
10,800‌
The
Mosaic
Co.
90‌
USD
434,970‌
USD
60.00
12/16/22
14,580‌
The
Mosaic
Co.
45‌
USD
217,485‌
USD
60.00
01/20/23
11,070‌
The
Mosaic
Co.
55‌
USD
265,815‌
USD
75.00
01/20/23
3,713‌
VanEck
Vectors
Gold
Miners
ETF
370‌
USD
892,440‌
USD
31.00
12/16/22
12,210‌
Victoria
Gold
Corp.
220‌
CAD
180,180‌
CAD
20.00
12/16/22
717‌
Victoria
Gold
Corp.
220‌
CAD
180,180‌
CAD
17.50
02/17/23
1,513‌
Wesdome
Gold
Mines
Ltd.
161‌
CAD
150,374‌
CAD
15.00
12/16/22
408‌
Yamana
Gold
Inc.
760‌
USD
344,280‌
USD
6.00
01/20/23
13,680‌
Zoetis
Inc.
80‌
USD
1,186,320‌
USD
210.00
10/21/22
400‌
Zoetis
Inc.
56‌
USD
830,424‌
USD
170.00
01/20/23
20,580‌
TOTAL
EXCHANGE
TRADED
CALL
OPTIONS
WRITTEN
$
431,964‌
Exchange
Traded
Put
Options
Written
—
(1.1)%
Energy
Select
Sector
SPDR
ETF
240‌
USD
1,728,480‌
USD
65.00
10/21/22
$
20,880‌
Energy
Select
Sector
SPDR
ETF
305‌
USD
2,196,610‌
USD
66.00
01/20/23
120,475‌
NextEra
Energy
Partners
LP
90‌
USD
650,790‌
USD
70.00
10/21/22
16,875‌
NextEra
Energy
Partners
LP
90‌
USD
650,790‌
USD
65.00
12/16/22
20,925‌
SPDR
S&P
500
ETF
Trust
22‌
USD
785,796‌
USD
385.00
10/21/22
59,972‌
7
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
September
30,
2022
(Unaudited)
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
SPDR
S&P
500
ETF
Trust
25‌
USD
892,950‌
USD
375.00
11/18/22
$
56,250‌
SPDR
S&P
500
ETF
Trust
20‌
USD
714,360‌
USD
380.00
01/20/23
64,000‌
SPDR
S&P
500
ETF
Trust
35‌
USD
1,250,130‌
USD
400.00
03/17/23
167,860‌
Utilities
Select
Sector
SPDR
Fund
140‌
USD
917,140‌
USD
68.00
12/16/22
58,100‌
Utilities
Select
Sector
SPDR
Fund
100‌
USD
655,100‌
USD
72.00
12/16/22
65,400‌
Utilities
Select
Sector
SPDR
Fund
400‌
USD
2,620,400‌
USD
65.00
01/20/23
132,000‌
Utilities
Select
Sector
SPDR
Fund
350‌
USD
2,292,850‌
USD
63.00
03/17/23
106,750‌
VanEck
Vectors
Agribusiness
ETF
80‌
USD
645,440‌
USD
83.00
02/17/23
52,800‌
VanEck
Vectors
Gold
Miners
ETF
700‌
USD
1,688,400‌
USD
22.00
01/20/23
93,100‌
VanEck
Vectors
Gold
Miners
ETF
700‌
USD
1,688,400‌
USD
28.00
01/20/23
350,000‌
VanEck
Vectors
Gold
Miners
ETF
63‌
USD
151,956‌
USD
28.00
03/17/23
32,130‌
TOTAL
EXCHANGE
TRADED
PUT
OPTIONS
WRITTEN
$
1,417,517‌
TOTAL
OPTIONS
WRITTEN
$
4,485,584‌