NPORT-EX 2 GB41GB033123.htm
1
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
—
March
31,
2023
(Unaudited)
Shares
Market
Value
COMMON
STOCKS
 —
75.5%
Agriculture
 —
5.2%
25,500‌
Archer-Daniels-Midland
Co.
..........
$
2,031,330‌
10,000‌
Bunge
Ltd.
......................
955,200‌
33,500‌
Corteva
Inc.
.....................
2,020,385‌
33,090‌
Nutrien
Ltd.
.....................
2,443,696‌
7,450,611‌
Automotive
 —
0.1%
19,000‌
Iveco
Group
NV†
.................
179,783‌
Energy
and
Energy
Services
 —
18.0%
7,300‌
APA
Corp.
......................
263,238‌
19,500‌
Baker
Hughes
Co.
.................
562,770‌
27,000‌
BP
plc,
ADR
.....................
1,024,380‌
17,345‌
Chevron
Corp.
...................
2,830,010‌
11,700‌
ConocoPhillips
...................
1,160,757‌
15,089‌
Coterra
Energy
Inc.
................
370,284‌
13,000‌
Devon
Energy
Corp.
...............
657,930‌
3,800‌
Diamondback
Energy
Inc.
...........
513,646‌
40,000‌
Eni
SpA
........................
559,862‌
9,200‌
EOG
Resources
Inc.
...............
1,054,596‌
39,500‌
Exxon
Mobil
Corp.
................
4,331,570‌
17,000‌
Halliburton
Co.
...................
537,880‌
3,200‌
Hess
Corp.
......................
423,488‌
35,282‌
Kinder
Morgan
Inc.
................
617,788‌
20,000‌
Marathon
Oil
Corp.
................
479,200‌
9,095‌
Marathon
Petroleum
Corp.
...........
1,226,279‌
9,649‌
Occidental
Petroleum
Corp.
..........
602,387‌
8,700‌
ONEOK
Inc.
.....................
552,798‌
7,000‌
Phillips
66
......................
709,660‌
5,100‌
Pioneer
Natural
Resources
Co.
........
1,041,624‌
24,000‌
Schlumberger
NV
.................
1,178,400‌
32,500‌
Shell
plc,
ADR
...................
1,870,050‌
15,500‌
Suncor
Energy
Inc.
................
481,275‌
21,000‌
The
Williams
Companies
Inc.
.........
627,060‌
23,000‌
TotalEnergies
SE,
ADR
..............
1,358,150‌
6,600‌
Valero
Energy
Corp.
...............
921,360‌
25,956,442‌
Food
and
Beverage
 —
1.1%
5,000‌
Mowi
ASA
......................
92,361‌
25,000‌
Tyson
Foods
Inc.,
Cl. A
.............
1,483,000‌
1,575,361‌
Health
Care
 —
5.0%
46,000‌
Bayer
AG
.......................
2,929,365‌
27,000‌
Elanco
Animal
Health
Inc.†
...........
253,800‌
23,700‌
Zoetis
Inc.
......................
3,944,628‌
7,127,793‌
Machinery
 —
3.2%
4,000‌
AGCO
Corp.
.....................
540,800‌
94,700‌
CNH
Industrial
NV
.................
1,446,069‌
Shares
Market
Value
6,400‌
Deere
&
Co.
.....................
$
2,642,432‌
4,629,301‌
Metals
and
Mining
 —
40.3%
49,572‌
Agnico
Eagle
Mines
Ltd.
............
2,526,685‌
165,000‌
Alamos
Gold
Inc.,
Cl. A
.............
2,017,950‌
91,500‌
Artemis
Gold
Inc.†
................
303,307‌
389,000‌
B2Gold
Corp.
....................
1,532,660‌
175,294‌
Barrick
Gold
Corp.
................
3,255,210‌
50,000‌
BHP
Group
Ltd.,
ADR
..............
3,170,500‌
511,802‌
De
Grey
Mining
Ltd.†
..............
530,277‌
75,000‌
Dundee
Precious
Metals
Inc.
.........
547,170‌
117,300‌
Eldorado
Gold
Corp.†
..............
1,215,228‌
116,185‌
Endeavour
Mining
plc
..............
2,799,960‌
451,000‌
Evolution
Mining
Ltd.
..............
940,589‌
33,000‌
Franco-Nevada
Corp.
...............
4,811,400‌
79,500‌
Freeport-McMoRan
Inc.
.............
3,252,345‌
62,137‌
Fresnillo
plc
.....................
571,825‌
16,500‌
Gold
Fields
Ltd.,
ADR
..............
219,780‌
193,500‌
K92
Mining
Inc.†
.................
1,099,578‌
90,000‌
Karora
Resources
Inc.†
.............
302,331‌
337,800‌
Kinross
Gold
Corp.
................
1,591,038‌
65,000‌
Lundin
Gold
Inc.
..................
758,934‌
22,500‌
MAG
Silver
Corp.†
................
285,075‌
115,272‌
Newcrest
Mining
Ltd.
..............
2,068,888‌
80,900‌
Newmont
Corp.
..................
3,965,718‌
461,005‌
Northern
Star
Resources
Ltd.
.........
3,793,435‌
118,400‌
Osisko
Gold
Royalties
Ltd.
...........
1,873,088‌
226,100‌
Osisko
Mining
Inc.†
...............
719,371‌
920,671‌
Perseus
Mining
Ltd.
...............
1,464,706‌
49,000‌
Rio
Tinto
plc,
ADR
................
3,361,400‌
7,300‌
Royal
Gold
Inc.
...................
946,883‌
142,000‌
SSR
Mining
Inc.
..................
2,147,040‌
112,700‌
Victoria
Gold
Corp.†
...............
747,164‌
102,700‌
Wesdome
Gold
Mines
Ltd.†
..........
588,160‌
198,783‌
Westgold
Resources
Ltd.†
...........
174,068‌
79,450‌
Wheaton
Precious
Metals
Corp.
.......
3,826,312‌
85,000‌
Yamana
Gold
Inc.
.................
497,250‌
57,905,325‌
Specialty
Chemicals
 —
2.6%
10,000‌
CF
Industries
Holdings
Inc.
..........
724,900‌
12,000‌
FMC
Corp.
......................
1,465,560‌
25,500‌
The
Mosaic
Co.
...................
1,169,940‌
8,900‌
Yara
International
ASA
..............
385,844‌
3,746,244‌
TOTAL
COMMON
STOCKS
.........
108,570,860‌
2
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
March
31,
2023
(Unaudited)
Principal
Amount
Market
Value
CONVERTIBLE
CORPORATE
BONDS
 —
0.2%
Metals
and
Mining
 —
0.2%
$
200,000‌
Fortuna
Silver
Mines
Inc.,
4.650%,
10/31/24
...............
$
200,100‌
CORPORATE
BONDS
 —
1.4%
Metals
and
Mining
 —
1.4%
675,000‌
Hecla
Mining
Co.,
7.250%,
02/15/28
...............
682,563‌
500,000‌
IAMGOLD
Corp.,
5.750%,
10/15/28(a)
.............
386,858‌
500,000‌
New
Gold
Inc.,
7.500%,
07/15/27(a)
.............
481,745‌
500,000‌
Northern
Star
Resources
Ltd.,
6.125%,
04/11/33
...............
496,179‌
2,047,345‌
TOTAL
CORPORATE
BONDS
........
2,047,345‌
U.S.
GOVERNMENT
OBLIGATIONS
 —
22.9%
33,170,000‌
U.S.
Treasury
Bills,
4.535%
to
4.765%††,
04/13/23
to
06/29/23
......................
32,948,545‌
TOTAL
INVESTMENTS
BEFORE
OPTIONS
WRITTEN
—
100.0%
...........
(Cost
$158,525,240)
.............
$
143,766,850‌
(a)
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.
†
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
......................
79.5‌
%
$
114,329,379‌
Europe
..............................
11.1‌
16,007,224‌
Asia/Pacific
.........................
8.8‌
12,638,642‌
Latin
America
.......................
0.4‌
571,825‌
South
Africa
.........................
0.2‌
219,780‌
Total
Investments
—
Long
Positions
100.0‌%
$
143,766,850‌
Short
Positions
North
America
......................
(3.3‌)
%
$
(4,787,578‌)
Europe
..............................
(0.2‌)
(252,960‌)
Total
Investments
—
Short
Positions
(3.5‌)%
$
(5,040,538‌)
*
Total
investments
exclude
options
written.
3
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
March
31,
2023
(Unaudited)
As
of
March
31,
2023,
options
written
outstanding
were
as
follows:
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
OTC
Call
Options
Written
—
(2.6)%
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
120‌
USD
611,640‌
USD
54.00
04/21/23
$
8,274‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
120‌
USD
611,640‌
USD
64.00
05/19/23
3,624‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
160‌
USD
815,520‌
USD
63.00
06/29/23
11,520‌
Agnico
Eagle
Mines
Ltd.
Pershing
LLC
95‌
USD
484,215‌
USD
63.50
08/18/23
12,571‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
360‌
USD
440,280‌
USD
10.00
06/16/23
89,564‌
Alamos
Gold
Inc.,
Cl.
A
Pershing
LLC
640‌
USD
782,720‌
USD
11.00
08/18/23
128,854‌
APA
Corp.
Pershing
LLC
35‌
USD
126,210‌
USD
50.00
05/19/23
354‌
Archer-Daniels-Midland
Co.
Pershing
LLC
120‌
USD
955,920‌
USD
90.00
06/16/23
6,666‌
Archer-Daniels-Midland
Co.
Pershing
LLC
135‌
USD
1,075,410‌
USD
86.00
07/21/23
28,469‌
B2Gold
Corp.
Pershing
LLC
1,300‌
USD
512,200‌
USD
5.00
05/19/23
7,687‌
B2Gold
Corp.
Pershing
LLC
1,300‌
USD
512,200‌
USD
4.50
07/21/23
30,407‌
B2Gold
Corp.
Pershing
LLC
1,290‌
USD
508,260‌
USD
5.00
10/20/23
38,728‌
Baker
Hughes
Co.
Pershing
LLC
65‌
USD
187,590‌
USD
37.00
04/21/23
89‌
Baker
Hughes
Co.
Pershing
LLC
65‌
USD
187,590‌
USD
34.00
06/16/23
2,637‌
Baker
Hughes
Co.
Pershing
LLC
65‌
USD
187,590‌
USD
35.00
08/18/23
4,831‌
Barrick
Gold
Corp.
Pershing
LLC
431‌
USD
800,367‌
USD
18.00
06/16/23
65,789‌
Barrick
Gold
Corp.
Pershing
LLC
301‌
USD
558,957‌
USD
21.00
07/21/23
20,602‌
Barrick
Gold
Corp.
Pershing
LLC
400‌
USD
742,800‌
USD
19.00
08/18/23
61,197‌
Barrick
Gold
Corp.
Pershing
LLC
130‌
USD
241,410‌
USD
22.00
08/18/23
8,311‌
Barrick
Gold
Corp.
Pershing
LLC
130‌
USD
241,410‌
USD
22.00
09/15/23
9,832‌
Barrick
Gold
Corp.
Pershing
LLC
360‌
USD
668,520‌
USD
24.00
09/15/23
16,585‌
Bayer
AG
Morgan
Stanley
160‌
EUR
939,520‌
EUR
55.00
04/21/23
70,442‌
Bayer
AG
Morgan
Stanley
120‌
EUR
704,640‌
EUR
58.00
06/16/23
27,731‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
180‌
USD
1,141,380‌
USD
65.00
05/19/23
39,187‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
160‌
USD
1,014,560‌
USD
72.50
07/21/23
20,281‌
BHP
Group
Ltd.,
ADR
Pershing
LLC
160‌
USD
1,014,560‌
USD
65.00
09/15/23
63,893‌
BP
plc,
ADR
Pershing
LLC
90‌
USD
341,460‌
USD
35.00
04/21/23
28,929‌
BP
plc,
ADR
Pershing
LLC
90‌
USD
341,460‌
USD
36.00
07/21/23
31,964‌
BP
plc,
ADR
Pershing
LLC
90‌
USD
341,460‌
USD
38.00
10/20/23
28,832‌
Bunge
Ltd.
Pershing
LLC
50‌
USD
477,600‌
USD
105.00
07/21/23
14,030‌
Bunge
Ltd.
Pershing
LLC
50‌
USD
477,600‌
USD
105.00
10/20/23
25,497‌
CF
Industries
Holdings
Inc.
Pershing
LLC
50‌
USD
362,450‌
USD
105.00
05/19/23
219‌
CF
Industries
Holdings
Inc.
Pershing
LLC
50‌
USD
362,450‌
USD
95.00
08/18/23
5,463‌
Chevron
Corp.
Pershing
LLC
55‌
USD
897,380‌
USD
180.00
06/16/23
10,251‌
Chevron
Corp.
Pershing
LLC
58‌
USD
946,328‌
USD
180.00
08/18/23
23,629‌
Chevron
Corp.
Pershing
LLC
60‌
USD
978,960‌
USD
180.00
10/20/23
39,363‌
CNH
Industrial
NV
Pershing
LLC
300‌
USD
458,100‌
USD
15.00
04/21/23
20,875‌
CNH
Industrial
NV
Pershing
LLC
300‌
USD
458,100‌
USD
16.00
06/16/23
18,056‌
CNH
Industrial
NV
Pershing
LLC
300‌
USD
458,100‌
USD
16.00
08/18/23
29,885‌
ConocoPhillips
Pershing
LLC
40‌
USD
396,840‌
USD
120.00
05/19/23
1,307‌
Corteva
Inc.
Pershing
LLC
120‌
USD
723,720‌
USD
65.00
08/18/23
32,154‌
Corteva
Inc.
Pershing
LLC
115‌
USD
693,565‌
USD
65.00
10/20/23
43,770‌
Coterra
Energy
Inc.
Pershing
LLC
50‌
USD
122,700‌
USD
30.00
04/21/23
31‌
Coterra
Energy
Inc.
Pershing
LLC
45‌
USD
110,430‌
USD
31.00
07/21/23
1,439‌
Coterra
Energy
Inc.
Pershing
LLC
55‌
USD
134,970‌
USD
29.00
10/20/23
6,694‌
Deere
&
Co.
Pershing
LLC
20‌
USD
825,760‌
USD
425.00
04/21/23
8,749‌
Deere
&
Co.
Pershing
LLC
20‌
USD
825,760‌
USD
430.00
06/16/23
30,245‌
Deere
&
Co.
Pershing
LLC
24‌
USD
990,912‌
USD
410.00
08/18/23
81,617‌
Devon
Energy
Corp.
Pershing
LLC
65‌
USD
328,965‌
USD
70.00
04/21/23
33‌
4
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
March
31,
2023
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Devon
Energy
Corp.
Pershing
LLC
65‌
USD
328,965‌
USD
65.00
06/16/23
$
2,155‌
Diamondback
Energy
Inc.
Pershing
LLC
11‌
USD
148,687‌
USD
155.35
06/16/23
2,337‌
Diamondback
Energy
Inc.
Pershing
LLC
10‌
USD
135,170‌
USD
147.85
09/15/23
7,879‌
Diamondback
Energy
Inc.
Pershing
LLC
10‌
USD
135,170‌
USD
150.00
11/17/23
9,041‌
Eldorado
Gold
Corp.
Pershing
LLC
410‌
USD
424,760‌
USD
11.00
09/15/23
51,596‌
Eni
SpA
Morgan
Stanley
20‌
EUR
129,060‌
EUR
14.00
05/19/23
1,119‌
Eni
SpA
Morgan
Stanley
20‌
EUR
129,060‌
EUR
15.00
07/21/23
912‌
EOG
Resources
Inc.
Pershing
LLC
30‌
USD
343,890‌
USD
127.50
04/21/23
964‌
EOG
Resources
Inc.
Pershing
LLC
30‌
USD
343,890‌
USD
139.00
07/21/23
5,380‌
EOG
Resources
Inc.
Pershing
LLC
32‌
USD
366,816‌
USD
139.00
09/15/23
10,986‌
Exxon
Mobil
Corp.
Pershing
LLC
135‌
USD
1,480,410‌
USD
105.00
04/21/23
79,911‌
Exxon
Mobil
Corp.
Pershing
LLC
135‌
USD
1,480,410‌
USD
107.00
06/16/23
96,649‌
Exxon
Mobil
Corp.
Pershing
LLC
125‌
USD
1,370,750‌
USD
110.00
08/18/23
92,336‌
FMC
Corp.
Pershing
LLC
40‌
USD
488,520‌
USD
120.00
04/21/23
17,432‌
FMC
Corp.
Pershing
LLC
40‌
USD
488,520‌
USD
130.00
06/16/23
13,263‌
FMC
Corp.
Pershing
LLC
40‌
USD
488,520‌
USD
127.50
08/18/23
25,599‌
Franco-Nevada
Corp.
Pershing
LLC
114‌
USD
1,662,120‌
USD
152.50
04/21/23
22,662‌
Freeport-McMoRan
Inc.
Pershing
LLC
250‌
USD
1,022,750‌
USD
45.00
05/19/23
26,271‌
Freeport-McMoRan
Inc.
Pershing
LLC
250‌
USD
1,022,750‌
USD
43.00
07/21/23
76,471‌
Freeport-McMoRan
Inc.
Pershing
LLC
295‌
USD
1,206,845‌
USD
45.00
08/18/23
83,299‌
Gold
Fields
Ltd.,
ADR
Pershing
LLC
165‌
USD
219,780‌
USD
15.00
10/20/23
21,133‌
Halliburton
Co.
Pershing
LLC
50‌
USD
158,200‌
USD
35.00
04/21/23
1,207‌
Halliburton
Co.
Pershing
LLC
60‌
USD
189,840‌
USD
35.00
06/16/23
7,380‌
Halliburton
Co.
Pershing
LLC
60‌
USD
189,840‌
USD
43.00
07/21/23
2,025‌
Hess
Corp.
Pershing
LLC
12‌
USD
158,808‌
USD
140.00
05/19/23
5,332‌
Hess
Corp.
Pershing
LLC
10‌
USD
132,340‌
USD
155.00
07/21/23
3,991‌
Hess
Corp.
Pershing
LLC
10‌
USD
132,340‌
USD
155.00
09/15/23
6,382‌
Kinder
Morgan
Inc.
Pershing
LLC
115‌
USD
201,365‌
USD
20.00
05/19/23
186‌
Kinder
Morgan
Inc.
Pershing
LLC
122‌
USD
213,622‌
USD
20.00
07/21/23
1,396‌
Kinder
Morgan
Inc.
Pershing
LLC
115‌
USD
201,365‌
USD
19.00
08/18/23
3,150‌
Kinross
Gold
Corp.
Pershing
LLC
794‌
USD
373,974‌
USD
4.50
05/19/23
34,889‌
Kinross
Gold
Corp.
Pershing
LLC
500‌
USD
235,500‌
USD
5.50
08/18/23
14,855‌
Kinross
Gold
Corp.
Pershing
LLC
960‌
USD
452,160‌
USD
6.00
11/17/23
33,872‌
Kinross
Gold
Corp.
Pershing
LLC
1,124‌
USD
529,404‌
USD
5.00
01/19/24
76,008‌
Marathon
Oil
Corp.
Pershing
LLC
100‌
USD
239,600‌
USD
27.50
07/21/23
10,017‌
Marathon
Petroleum
Corp.
Pershing
LLC
30‌
USD
404,490‌
USD
112.00
04/21/23
69,905‌
Marathon
Petroleum
Corp.
Pershing
LLC
30‌
USD
404,490‌
USD
110.00
06/16/23
80,242‌
Marathon
Petroleum
Corp.
Pershing
LLC
30‌
USD
404,490‌
USD
125.00
08/18/23
52,493‌
Newmont
Corp.
Pershing
LLC
280‌
USD
1,372,560‌
USD
52.50
04/21/23
14,290‌
Newmont
Corp.
Pershing
LLC
215‌
USD
1,053,930‌
USD
65.00
06/16/23
5,415‌
Newmont
Corp.
Pershing
LLC
314‌
USD
1,539,228‌
USD
55.00
09/15/23
77,394‌
Nutrien
Ltd.
Pershing
LLC
100‌
USD
738,500‌
USD
90.00
06/16/23
8,226‌
Nutrien
Ltd.
Pershing
LLC
50‌
USD
369,250‌
USD
90.00
09/15/23
11,493‌
ONEOK
Inc.
Pershing
LLC
27‌
USD
171,558‌
USD
69.00
04/21/23
417‌
ONEOK
Inc.
Pershing
LLC
30‌
USD
190,620‌
USD
67.50
06/16/23
4,357‌
ONEOK
Inc.
Pershing
LLC
30‌
USD
190,620‌
USD
67.50
08/18/23
6,798‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
300‌
USD
474,600‌
USD
13.50
04/21/23
71,638‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
224‌
USD
354,368‌
USD
14.50
07/21/23
49,144‌
Osisko
Gold
Royalties
Ltd.
Pershing
LLC
340‌
USD
537,880‌
USD
14.00
09/15/23
96,285‌
Phillips
66
Pershing
LLC
25‌
USD
253,450‌
USD
105.00
05/19/23
7,584‌
Phillips
66
Pershing
LLC
30‌
USD
304,140‌
USD
115.00
07/21/23
7,766‌
Phillips
66
Pershing
LLC
15‌
USD
152,070‌
USD
105.00
09/15/23
11,198‌
5
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
March
31,
2023
(Unaudited)
Description
Counterparty
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Pioneer
Natural
Resources
Co.
Pershing
LLC
16‌
USD
326,784‌
USD
235.00
05/19/23
$
2,518‌
Pioneer
Natural
Resources
Co.
Pershing
LLC
19‌
USD
388,056‌
USD
260.00
06/16/23
1,338‌
Rio
Tinto
plc,
ADR
Pershing
LLC
85‌
USD
583,100‌
USD
62.50
04/21/23
55,943‌
Rio
Tinto
plc,
ADR
Pershing
LLC
85‌
USD
583,100‌
USD
80.00
04/21/23
458‌
Rio
Tinto
plc,
ADR
Pershing
LLC
75‌
USD
514,500‌
USD
75.00
06/16/23
11,374‌
Rio
Tinto
plc,
ADR
Pershing
LLC
75‌
USD
514,500‌
USD
80.00
06/16/23
4,512‌
Rio
Tinto
plc,
ADR
Pershing
LLC
170‌
USD
1,166,200‌
USD
80.00
07/21/23
19,074‌
Royal
Gold
Inc.
Pershing
LLC
33‌
USD
428,043‌
USD
130.00
07/21/23
31,443‌
Royal
Gold
Inc.
Pershing
LLC
40‌
USD
518,840‌
USD
132.00
09/15/23
45,460‌
Schlumberger
NV
Pershing
LLC
80‌
USD
392,800‌
USD
52.50
05/19/23
12,259‌
Schlumberger
NV
Pershing
LLC
80‌
USD
392,800‌
USD
60.00
08/18/23
11,955‌
Schlumberger
NV
Pershing
LLC
80‌
USD
392,800‌
USD
55.00
11/17/23
33,022‌
Shell
plc,
ADR
Pershing
LLC
100‌
USD
575,400‌
USD
58.00
07/21/23
33,502‌
Shell
plc,
ADR
Pershing
LLC
105‌
USD
604,170‌
USD
60.00
10/20/23
37,828‌
Shell
plc,
ADR
Pershing
LLC
60‌
USD
345,240‌
USD
62.50
01/19/24
21,329‌
SSR
Mining
Inc.
Pershing
LLC
237‌
USD
358,344‌
USD
17.00
04/21/23
2,311‌
SSR
Mining
Inc.
Pershing
LLC
200‌
USD
302,400‌
USD
17.00
05/19/23
8,054‌
SSR
Mining
Inc.
Pershing
LLC
273‌
USD
412,776‌
USD
20.00
05/19/23
2,363‌
SSR
Mining
Inc.
Pershing
LLC
290‌
USD
438,480‌
USD
18.00
06/16/23
10,222‌
Suncor
Energy
Inc.
Pershing
LLC
45‌
USD
139,725‌
USD
37.00
06/16/23
1,215‌
Suncor
Energy
Inc.
Pershing
LLC
55‌
USD
170,775‌
USD
40.00
08/18/23
1,825‌
The
Mosaic
Co.
Pershing
LLC
100‌
USD
458,800‌
USD
59.75
09/15/23
13,498‌
The
Mosaic
Co.
Pershing
LLC
90‌
USD
412,920‌
USD
50.00
11/17/23
43,605‌
The
Williams
Companies
Inc.
Pershing
LLC
60‌
USD
179,160‌
USD
35.00
04/21/23
9‌
The
Williams
Companies
Inc.
Pershing
LLC
70‌
USD
209,020‌
USD
35.00
05/19/23
289‌
TotalEnergies
SE,
ADR
Pershing
LLC
70‌
USD
413,350‌
USD
58.00
04/21/23
15,336‌
TotalEnergies
SE,
ADR
Pershing
LLC
80‌
USD
472,400‌
USD
60.00
05/19/23
17,047‌
TotalEnergies
SE,
ADR
Pershing
LLC
80‌
USD
472,400‌
USD
60.00
06/16/23
22,929‌
Valero
Energy
Corp.
Pershing
LLC
16‌
USD
223,360‌
USD
132.50
06/16/23
22,186‌
Valero
Energy
Corp.
Pershing
LLC
25‌
USD
349,000‌
USD
132.50
09/15/23
45,900‌
Valero
Energy
Corp.
Pershing
LLC
25‌
USD
349,000‌
USD
135.00
11/17/23
48,089‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
110‌
USD
529,760‌
USD
43.00
06/16/23
71,795‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
90‌
USD
433,440‌
USD
50.00
06/16/23
21,860‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
280‌
USD
1,348,480‌
USD
41.00
09/15/23
260,738‌
Wheaton
Precious
Metals
Corp.
Pershing
LLC
115‌
USD
553,840‌
USD
52.50
11/17/23
46,915‌
Yamana
Gold
Inc.
Pershing
LLC
850‌
USD
497,250‌
USD
5.50
04/21/23
38,871‌
TOTAL
OTC
CALL
OPTIONS
WRITTEN
$
3,700,959‌
OTC
Put
Options
Written
—
(0.1)%
NextEra
Energy
Partners
LP
Pershing
LLC
60‌
USD
364,500‌
USD
67.50
05/31/23
$
50,359‌
VanEck
Agribusiness
ETF
Pershing
LLC
100‌
USD
868,600‌
USD
87.00
06/16/23
30,664‌
TOTAL
OTC
PUT
OPTIONS
WRITTEN
$
81,023‌
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Exchange
Traded
Call
Options
Written
—
(0.5)%
AGCO
Corp.
20‌
USD
270,400‌
USD
135.00
05/19/23
$
13,500‌
AGCO
Corp.
20‌
USD
270,400‌
USD
135.00
08/18/23
22,100‌
Alamos
Gold
Inc.,
Cl.
A
650‌
USD
794,950‌
USD
12.50
01/19/24
117,650‌
ConocoPhillips
37‌
USD
367,077‌
USD
130.00
08/18/23
3,700‌
Corteva
Inc.
100‌
USD
603,100‌
USD
60.00
06/16/23
33,500‌
Dundee
Precious
Metals
Inc.
375‌
CAD
369,750‌
CAD
8.50
06/16/23
44,395‌
6
GAMCO
Natural
Resources,
Gold
&
Income
Trust
Schedule
of
Investments
(Continued)
—
March
31,
2023
(Unaudited)
Description
Number
of
Contracts
Notional
Amount
Exercise
Price
Expiration
Date
Market
Value
Dundee
Precious
Metals
Inc.
375‌
CAD
369,750‌
CAD
8.50
08/18/23
$
49,251‌
Eldorado
Gold
Corp.
353‌
USD
365,708‌
USD
11.00
05/19/23
17,650‌
Eldorado
Gold
Corp.
410‌
USD
424,760‌
USD
11.00
07/21/23
34,030‌
Endeavour
Mining
plc
410‌
CAD
1,335,370‌
CAD
33.00
05/19/23
37,162‌
Endeavour
Mining
plc
360‌
CAD
1,172,520‌
CAD
36.00
09/15/23
34,362‌
Endeavour
Mining
plc
390‌
CAD
1,270,230‌
CAD
34.00
12/15/23
81,232‌
Franco-Nevada
Corp.
114‌
USD
1,662,120‌
USD
160.00
07/21/23
62,130‌
Franco-Nevada
Corp.
102‌
USD
1,487,160‌
USD
165.00
10/20/23
79,560‌
K92
Mining
Inc.
570‌
CAD
437,760‌
CAD
9.00
09/15/23
19,822‌
Lundin
Gold
Inc.
455‌
CAD
717,990‌
CAD
15.50
05/19/23
34,508‌
Lundin
Gold
Inc.
195‌
CAD
307,710‌
CAD
16.00
07/21/23
18,396‌
Occidental
Petroleum
Corp.
40‌
USD
249,720‌
USD
75.00
04/21/23
160‌
Occidental
Petroleum
Corp.
27‌
USD
168,561‌
USD
72.50
06/16/23
3,051‌
Occidental
Petroleum
Corp.
30‌
USD
187,290‌
USD
72.50
08/18/23
6,990‌
Osisko
Gold
Royalties
Ltd.
320‌
USD
506,240‌
USD
15.00
07/21/23
56,000‌
Osisko
Mining
Inc.
600‌
CAD
258,000‌
CAD
5.00
09/15/23
13,763‌
The
Mosaic
Co.
65‌
USD
298,220‌
USD
69.75
06/16/23
715‌
Victoria
Gold
Corp.
370‌
CAD
331,520‌
CAD
14.00
07/21/23
3,833‌
Zoetis
Inc.
31‌
USD
515,964‌
USD
170.00
04/21/23
4,960‌
Zoetis
Inc.
70‌
USD
1,165,080‌
USD
175.00
06/16/23
32,900‌
TOTAL
EXCHANGE
TRADED
CALL
OPTIONS
WRITTEN
$
825,320‌
Exchange
Traded
Put
Options
Written
—
(0.3)%
Energy
Select
Sector
SPDR
ETF
272‌
USD
2,252,976‌
USD
76.00
05/19/23
$
30,192‌
Energy
Select
Sector
SPDR
ETF
275‌
USD
2,277,825‌
USD
72.00
06/16/23
29,287‌
Energy
Select
Sector
SPDR
ETF
300‌
USD
2,484,900‌
USD
70.00
10/20/23
74,400‌
NextEra
Energy
Partners
LP
45‌
USD
273,375‌
USD
65.00
04/21/23
23,220‌
NextEra
Energy
Partners
LP
60‌
USD
364,500‌
USD
65.00
07/21/23
41,700‌
SPDR
S&P
500
ETF
Trust
22‌
USD
900,658‌
USD
385.00
04/21/23
2,354‌
SPDR
S&P
500
ETF
Trust
70‌
USD
2,865,730‌
USD
372.00
05/19/23
14,070‌
SPDR
S&P
500
ETF
Trust
70‌
USD
2,865,730‌
USD
375.00
06/16/23
29,890‌
SPDR
S&P
500
ETF
Trust
35‌
USD
1,432,865‌
USD
280.00
07/21/23
2,765‌
Utilities
Select
Sector
SPDR
Fund
420‌
USD
2,842,980‌
USD
60.00
04/21/23
2,520‌
Utilities
Select
Sector
SPDR
Fund
240‌
USD
1,624,560‌
USD
64.00
06/16/23
22,440‌
Utilities
Select
Sector
SPDR
Fund
195‌
USD
1,319,955‌
USD
65.00
06/16/23
26,715‌
Utilities
Select
Sector
SPDR
Fund
415‌
USD
2,809,135‌
USD
63.00
08/18/23
65,570‌
VanEck
Agribusiness
ETF
145‌
USD
1,259,470‌
USD
83.00
04/21/23
5,800‌
VanEck
Agribusiness
ETF
145‌
USD
1,259,470‌
USD
83.00
05/19/23
40,963‌
VanEck
Agribusiness
ETF
60‌
USD
521,160‌
USD
82.00
08/18/23
11,850‌
VanEck
Gold
Miners
ETF
250‌
USD
808,750‌
USD
28.00
04/21/23
1,750‌
VanEck
Gold
Miners
ETF
250‌
USD
808,750‌
USD
28.00
05/19/23
7,750‌
TOTAL
EXCHANGE
TRADED
PUT
OPTIONS
WRITTEN
$
433,236‌
TOTAL
OPTIONS
WRITTEN
$
5,040,538‌