Seeks to Capitalize on Event-Driven Opportunities for Consistent Returns
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The Gabelli ABC Fund employs a strategy focused on arbitrage opportunities, specifically targeting event-driven situations such as announced mergers, spin-offs, split-ups, liquidations, and reorganizations. In addition to its event-driven focus, the Fund may invest in value-oriented common stocks and convertible securities, particularly those associated with mergers or acquisitions. The strategy aims to capture the “spread” between the market price of a security and its expected value upon the consummation of the deal. These spreads reflect the inherent risks of each transaction, as well as the anticipated timing of deal closure. The Fund’s disciplined approach to identifying and executing on these arbitrage opportunities is designed to deliver consistent returns while managing risk across various market environments.
The Fund’s investment objective is to achieve total returns that are attractive to investors in various market conditions without excessive risk of capital loss.
Exposure to Merger Arbitrage: Global mergers and acquisitions (M&A) activity totaled $3.2 trillion in 2024, a 10% increase compared to 2023. This fund seeks to capture the deals with the highest intrinsic value while still managing risk across various market environments.
Gaining Spreads on Event-Driven Situations: Leveraging our core competencies in the merger arbitrage space, we apply independent thinking and private valuations to announced deals.
Dedicated Leadership: Managed since inception in 1993 by Mario Gabelli, CFA, veteran portfolio manager who is deeply embedded within the merger arbitrage space and has over 60 years of investment management experience.
Mario J. Gabelli is the Chairman and Chief Executive Officer of GAMCO Investors, Inc., the firm he founded in 1977. A 1965 summa cum laude graduate of Fordham University’s College of Business Administration, he also holds an M.B.A. from Columbia University Graduate School of Business, and honorary doctorates from Fordham University and Roger Williams University…. More
Supported by a centralized team of 30+ sector-focused analysts supporting Growth and Value portfolios
A graphical measurement of a portfolio’s net return that simulates the performance of an initial investment of $10,000 over the given time period.
| Symbol | Company | Sector | Portfolio |
|---|---|---|---|
| B | UNITED STATES TREASURY BILL | Industrials | 39,004,105.37 |
| B | UNITED STATES TREASURY BILL | Industrials | 15,738,289.77 |
| B | UNITED STATES TREASURY BILL | Industrials | 15,225,624.12 |
| LEN/B | LENNAR CORP | Consumer Discretionary | 14,756,616.00 |
| B | UNITED STATES TREASURY BILL | Industrials | 13,815,573.38 |
| ITCI | INTRA-CELLULAR THERAPIES INC | Health Care | 13,192,000.00 |
| B | UNITED STATES TREASURY BILL | Industrials | 12,539,022.26 |
| B | UNITED STATES TREASURY BILL | Industrials | 12,301,018.17 |
| B | UNITED STATES TREASURY BILL | Industrials | 11,860,358.28 |
| MRP | MILLROSE PROPERTIES INC | 10,749,805.00 |
Gross Expense Ratio
0.87%
Net Expense Ratio
0.87%
Maximum Sales Charge
NA
The top ten holdings and sectors listed are not necessarily representative of the entire portfolio and are subject to change. The most recent semiannual report, which contains a more extensive list of holdings, is available from your financial adviser or by contacting the distributor, G. distributors, LLC.
The Fund’s share price will fluctuate with changes in the market value of the Fund’s portfolio securities. Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell Fund shares, they may be worth less than what you paid for them. Consequently, you can lose money by investing in the Fund.
Standard deviation is a statistical measure of the volatility of a fund’s returns. Beta measures a fund’s risk relative to the S&P 500 Index which, by definition, has a beta of 1.00. If a fund’s beta is less than 1.00, the fund is considered less risky than the market. Alpha is a measure of a fund’s actual returns and expected performance, given its level of risk (as measured by beta). Upside/downside capture ratio show you whether a given fund has outperformed, gained more or less than, a broad market benchmark during periods of market strength and weakness, and if so, by how much. R-squared is a statistic that indicates how much of a fund’s fluctuations were attributable to movements of the fund’s benchmark index.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. The prospectus, which contains more complete information about these and other matters, should be read carefully before investing. To obtain a prospectus, please call 800-GABELLI or visit www.gabelli.com.
Returns represent past performance and do not guarantee future results. Due to market volatility, current performance may be lower or higher than the performance data quoted. Total return and average annual returns are historical and reflect changes in share price, reinvestment of dividends and capital gains and are net of expenses. Investment return and principal value will fluctuate so, upon redemption, shares may be worth more or less than their original cost. To obtain the most recent month end performance information and a prospectus, please call 800-GABELLI or visit www.gabelli.com.
Performance for periods less than one year is not annualized. The Fund imposes a 2% redemption fee on shares sold or exchanged in seven days or less after the date of purchase. The Advisor Class inception date is May 1, 2007. The historical performance of Class AAA shares is used to calculate performance for the Advisor Class prior to its inception date. The actual performance of the Advisor Class Shares would have been lower due to the additional expenses associated with this class of shares. The Lipper U.S. Treasury Money Market Average reflects the average performance of mutual funds classified in this particular category. The Fund does not have the safety of principal and credit quality associated with U.S. Treasury Money Market securities. The S&P 500 Index is an unmanaged indicator of stock market performance, its returns do not reflect any fees, expenses, or sales charges, and it is not available for direct deposit. You cannot invest directly in the S&P 500 Index.
Investing in foreign securities involves risks not ordinarily associated with investments in domestic issues including currency fluctuations, economic and political risks. As a non-diversified Fund, the Fund may have a larger portion of its assets in a single issuer than a more diversified fund. Because the Fund invests in announced mergers or acquisitions, the Fund is subject to the risk that the announced merger or acquisition may not be completed, may be negotiated at a less attractive price, or may not close on the expected date. The Fund may not achieve its objective and you may lose money by investing in the Fund.
Minimum initial investment $10,000. The Class AAA shares are open to new investors who purchase shares directly through the Distributor, G.distributors, LLC. Investments through intermediaries may be made in the Advisor Class. Not FDIC Insured. Not Bank Guaranteed. May Lose Value.
The Gabelli Mutual Funds are distributed by G.Distributors, LLC., a registered broker-dealer and member of FINRA.
