Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. The Small Cap Fund seeks to provide long-term capital appreciation by investing primarily in smaller capitalization equity securities.
Strategy. Under normal market conditions, the Small Cap Fund invests at least 80% of its net assets (which includes, for purposes of this test, the amount of any borrowings for investment purposes) in a portfolio of common stocks of smaller companies. The Small Cap Adviser characterizes small capitalization companies as those companies with a market capitalization (defined as shares outstanding times current market price) between $100 million and $2.5 billion at the time of the Small Cap Funds initial investment. The Small Cap Adviser may change this characterization at any time in the future based upon the market capitalizations of the securities included in the Russell 2000 and Russell 2000 Value Indexes. The Small Cap Adviser closely monitors the issuers and … Under normal market conditions, the Small Cap Fund invests at least 80% of its net assets (which includes, for purposes of this test, the amount of any borrowings for investment purposes) in a portfolio of common stocks of smaller companies. The Small Cap Adviser characterizes small capitalization companies as those companies with a market capitalization (defined as shares outstanding times current market price) between $100 million and $2.5 billion at the time of the Small Cap Funds initial investment. The Small Cap Adviser may change this characterization at any time in the future based upon the market capitalizations of the securities included in the Russell 2000 and Russell 2000 Value Indexes. The Small Cap Adviser closely monitors the issuers and will sell a stock if the stock achieves its price objective and has limited further potential for a price increase, the forecasted price/earnings ratio exceeds the future forecasted growth rate, and/or the issuer suffers a negative change in its fundamental outlook. The Small Cap Fund may also invest up to 25% of its total assets in foreign securities and in European Depositary Receipts (EDRs) or American Depositary Receipts (ADRs), including in those of companies located in emerging markets. The Small Cap Fund may also invest in foreign debt securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NETSCOUT SYSTEMS INC | — | $2.86M | 3.33% |
| ADV ENERGY INDS | — | $2.26M | 2.63% |
| FLOWSERVE CORP | — | $2.21M | 2.57% |
| AAR CORP | — | $2.19M | 2.55% |
| U.S. Treasury Bills | B | $2.14M | 2.49% |
| MKS INSTRUMENTS INC | — | $2.12M | 2.47% |
| OPENLANE INC | — | $2.07M | 2.41% |
| TTM TECHNOLOGIES INC | — | $1.95M | 2.27% |
| MYR GROUP INC/DELAWARE | — | $1.90M | 2.22% |
| IMAX Corporation COM NPV | IMAX US | $1.90M | 2.21% |
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. |
|---|---|---|
| Harbor Small Cap Value Fund · HASCX, HSVRX, HISVX, HNVRX | 16% | 0.80% |
| Nomura Small Cap Core Fund · DCCAX, DCCCX, DCCRX, DCCIX, DCZRX | 14% | 0.69% |
| Sit Small Cap Dividend Growth Fund · SSCDX, SDFSX | 14% | 0.90% |
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. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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