Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The Fund seeks to provide capital appreciation.
Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in common and preferred shares of publicly traded domestic and foreign companies of all capitalization ranges in the pet industry. The pet industry includes companies that offer services and products for pets and pet owners (Pet Parents). Such companies will generally derive at least 50% of their revenues or profits from, or will devote at least 50% of their assets to the following sectors: manufacturers and distributors of pet food, pet supplies, veterinary pharmaceuticals, veterinary wellness, veterinary and other pet services, pet equipment, pet toys, and products and services that support Pet Parents regarding their pet activities (hereinafter the Pet Industry). … Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in common and preferred shares of publicly traded domestic and foreign companies of all capitalization ranges in the pet industry. The pet industry includes companies that offer services and products for pets and pet owners (Pet Parents). Such companies will generally derive at least 50% of their revenues or profits from, or will devote at least 50% of their assets to the following sectors: manufacturers and distributors of pet food, pet supplies, veterinary pharmaceuticals, veterinary wellness, veterinary and other pet services, pet equipment, pet toys, and products and services that support Pet Parents regarding their pet activities (hereinafter the Pet Industry). The Fund is classified as a non-diversified fund under the Investment Company Act of 1940, as amended. The Advisers investment philosophy with respect to securities is to identify assets that are selling in the public market at a discount to their private market value (PMV). The Adviser defines PMV as the value informed purchasers are willing to pay to acquire assets with similar characteristics. The Adviser also generally evaluates an issuers free cash flow and long-term earnings trends. Finally, the Adviser looks for a catalyst, something indigenous to the company, its industry or geographic positioning that may surface additional value, including, but not limited to, industry developments, regulatory changes, changes in management, sale or spin-off of a division, or the development of a profitable new business. The Fund is intended for investors seeking capital appreciation. It is not intended for those who wish to play short-term swings in the stock market.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| U.S. Treasury Bills | B | $317.51K | 11.51% |
| CHEWY INC- CL A | — | $229.50K | 8.32% |
| IDEXX LABS INC | — | $224.76K | 8.15% |
| ZOETIS INC CL A | — | $206.87K | 7.50% |
| PHIBRO ANIMAL HEALTH CORP CL A | — | $165.93K | 6.02% |
| CVS GROUP PLC COMMON STOCK GBP.002 | CVSG LN | $147.98K | 5.37% |
| FRESHPET INC | — | $147.40K | 5.35% |
| AMAZON.COM INC | — | $119.76K | 4.34% |
| U.S. Treasury Bills | — | $114.42K | 4.15% |
| U.S. Treasury Bills | B | $104.26K | 3.78% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| ProShares Pet Care ETF · PAWZ | 49% | 0.50% |
| Navigator Tactical Investment Grade Bond Fund · NTIIX | 21% | 1.06% |
| NEOS Enhanced Income 1-3 Month T-Bill ETF · CSHI | 19% | 0.39% |
Advisers
| Firm | Role |
|---|---|
| Gabelli Funds, LLC | Adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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