# EDGAR Filing Document

**Accession Number:** 0000877670
**File Stem:** 0001752724-23-050035
**Filing Date:** 2023-3
**Character Count:** 21757
**Document Hash:** 8eb7af6cf42a2a12ec0f0dbd877f3188
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-050035.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-050035

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GABELLI EQUITY SERIES FUNDS INC
- **CENTRAL INDEX KEY:** 0000877670
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06367
- **FILM NUMBER:** 23692320

**BUSINESS ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 2123098448

**MAIL ADDRESS:**
- **STREET 1:** ONE CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

## Series and Classes Contracts Data

### The Gabelli Global Financial Services Fund (Series ID: S000062891)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000203680 | CLASS I      | GFSIX           |
| C000203681 | CLASS A      | GGFSX           |
| C000203682 | CLASS AAA    | GAFSX           |
| C000203683 | CLASS C      | GCFSX           |

## Nport-Ex

#### The

#### Gabelli

#### Global

#### Financial

#### Services

#### Fund

#### Schedule

#### of

#### Investments

#### —

#### December

#### 31,

#### 2022
(Unaudited)

#### Shares

#### Market

#### Value

#### COMMON

#### STOCKS

#### —

#### 99.4%

#### Automobiles

#### —

#### 8.0%
23,199

Daimler

Truck

Holding

AG†

.......................

$

718,802

8,300

Mercedes-Benz

Group

AG

.........................

545,522

5,310

Toyota

Motor

Corp.,

ADR

..........................

725,240

1,989,564

#### Banks

#### —

#### 25.4%
82,500

Banco

Bilbao

Vizcaya

Argentaria

SA

..........

497,550

83,000

Commerzbank

AG†

...................................

785,055

420,400

Dah

Sing

Banking

Group

Ltd.

....................

301,615

221,300

Dah

Sing

Financial

Holdings

Ltd.

...............

512,604

1,296

First

Citizens

BancShares

Inc.,

Cl. A

..........

982,835

19,364

Flushing

Financial

Corp.

............................

375,274

34,000

ING

Groep

NV

..........................................

414,470

58,900

Japan

Post

Bank

Co.

Ltd.

..........................

506,242

14,370

Shinhan

Financial

Group

Co.

Ltd.,

ADR

.....

401,354

31,397

TrustCo

Bank

Corp.

NY

.............................

1,180,213

7,950

Webster

Financial

Corp.

............................

376,353

6,333,565

#### Consumer

#### Finance

#### —

#### 5.5%
17,580

Ally

Financial

Inc.

.....................................

429,831

10,190

Capital

One

Financial

Corp.

.......................

947,262

1,377,093

#### Diversified

#### Banks

#### —

#### 15.4%
119,000

Barclays

plc

..............................................

228,055

19,400

Citigroup

Inc.

...........................................

877,462

51,420

Credit

Agricole

SA

....................................

541,123

12,086

Hana

Financial

Group

Inc.

.........................

401,911

176,285

NatWest

Group

plc

...................................

565,194

11,010

Societe

Generale

SA

.................................

276,727

88,100

Standard

Chartered

plc

.............................

662,909

20,700

UniCredit

SpA

..........................................

294,085

3,847,466

#### Homebuilders

#### —

#### 7.2%
4,930

Cavco

Industries

Inc.†

..............................

1,115,413

35,413

Legacy

Housing

Corp.†

............................

671,430

1,786,843

#### Institutional

#### Banking

#### —

#### 1.6%
10,300

Moelis

&

Co.,

Cl. A

...................................

395,211

#### Institutional

#### Brokerage

#### —

#### 6.1%
140,000

Daiwa

Securities

Group

Inc.

......................

621,914

26,110

Jefferies

Financial

Group

Inc.

....................

895,051

1,516,965

#### Institutional

#### Trust,

#### Fiduciary,

#### and

#### Custody

#### —

#### 6.4%
8,980

State

Street

Corp.

.....................................

696,579

19,950

The

Bank

of

New

York

Mellon

Corp.

..........

908,124

1,604,703

#### Insurance

#### —

#### 12.7%
139,118

Aegon

NV

.................................................

705,578

#### Shares

#### Market

#### Value
1,057

E-L

Financial

Corp.

Ltd.

............................

$

695,559

12,350

First

American

Financial

Corp.

...................

646,399

48,629

HG

Holdings

Inc.†

....................................

340,403

18,879

NN

Group

NV

...........................................

771,176

3,159,115

#### Investment

#### Management

#### —

#### 7.3%
2,820

Diamond

Hill

Investment

Group

Inc.

..........

521,757

7,200

Franklin

Resources

Inc.

............................

189,936

221,600

The

Westaim

Corp.†

.................................

430,434

59,797

Westwood

Holdings

Group

Inc.

.................

665,762

1,807,889

#### Reinsurance

#### —

#### 3.8%
17,700

Axis

Capital

Holdings

Ltd.

.........................

958,809

#### TOTAL

#### COMMON

#### STOCKS

#### ..................
24,777,223

#### Principal

#### Amount

#### U.S.

#### GOVERNMENT

#### OBLIGATIONS

#### —

#### 0.6%
$

145,000

U.S.

Treasury

Bill,

4.193%††,

03/09/23

.............................

143,890

#### TOTAL

#### INVESTMENTS

#### —

#### 100.0%
(Cost

$22,856,085)

...............................

$

24,921,113

†

Non-income

producing

security.

††

Represents

annualized

yield

at

date

of

purchase.

ADR

American

Depositary

Receipt

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Gabelli Equity Series Funds Inc

- **b. Investment Company Act file number:** 811-06367

- **c. CIK number of Registrant:** 0000877670

- **d. LEI of Registrant:** 5493007J8TJQ0MSHWY40

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Corporate Center

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580-1422

  - **Telephone number:** 1-800-422-3554

**Item A.2. Information about the Series.**

- **a. Name of Series:** The Gabelli Global Financial Services Fund

- **b. EDGAR series identifier (if any):** S000062891

- **c. LEI of Series:** 549300OACYREG7GVGS13

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $25050909.93

**Total Liabilities:** $174176.23

**Net Assets:** $24876733.70

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000203683 | 8.60%                | 7.07%                | -1.91%               |
| Class ID C000203681 | 8.57%                | 7.25%                | -1.89%               |
| Class ID C000203682 | 8.62%                | 7.27%                | -1.90%               |
| Class ID C000203680 | 8.61%                | 7.28%                | -1.90%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $177422.85               | $1671915.16                                |
| Month 2  | $-52521.06               | $1730769.74                                |
| Month 3  | $-69884.24               | $-445434.00                                |

### Schedule of Portfolio Investments

| Name                           | Title                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Franklin Resources Inc         | Franklin Resources Inc             | CUSIP: 354613101<br>LEI: RIFQSET379FOGTEFKS80 | Long             | EC               | CORP              | US        |      7200 | NS      | $189936.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                   | ING Groep NV                       | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     34000 | NS      | $414469.68    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Hana Financial Group Inc       | Hana Financial Group Inc           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |     12086 | NS      | $401910.87    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc  | Jefferies Financial Group Inc      | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     26110 | NS      | $895050.80    | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp         | Webster Financial Corp             | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      7950 | NS      | $376353.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Flushing Financial Corp        | Flushing Financial Corp            | CUSIP: 343873105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19364 | NS      | $375274.32    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Bank Co Ltd         | Japan Post Bank Co Ltd             | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |     58900 | NS      | $506242.00    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Westwood Holdings Group Inc    | Westwood Holdings Group Inc        | CUSIP: 961765104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59797 | NS      | $665761.86    | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Cavco Industries Inc           | Cavco Industries Inc               | CUSIP: 149568107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4930 | NS      | $1115412.50   | 4.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of New York Mellon Corp/T | Bank of New York Mellon Corp/The   | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |     19950 | NS      | $908124.00    | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill        | CUSIP: 912796YK9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    145000 | PA      | $143890.40    | 0.58%             | 2023-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| First American Financial Corp  | First American Financial Corp      | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     12350 | NS      | $646399.00    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Hill Investment Group  | Diamond Hill Investment Group Inc  | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |      2820 | NS      | $521756.40    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Agricole SA             | Credit Agricole SA                 | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | EC               | CORP              | FR        |     51420 | NS      | $541123.20    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| HG Holdings Inc                | HG Holdings Inc                    | CUSIP: 42834P207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48629 | NS      | $340403.00    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| E-L Financial Corp Ltd         | E-L Financial Corp Ltd             | CUSIP: 268575107<br>LEI: 5493008YS2NMV2UCI287 | Long             | EC               | CORP              | CA        |      1057 | NS      | $695559.08    | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc/ | First Citizens BancShares Inc/NC   | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |      1296 | NS      | $982834.56    | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC              | NatWest Group PLC                  | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |    176285 | NS      | $565193.58    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard Chartered PLC         | Standard Chartered PLC             | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     88100 | NS      | $662908.87    | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                    | Moelis & Co                        | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     10300 | NS      | $395211.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Westaim Corp/The               | Westaim Corp/The                   | CUSIP: 956909303<br>LEI: 549300TSCVMK1W6GSK84 | Long             | EC               | CORP              | CA        |    221600 | NS      | $430434.27    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ally Financial Inc             | Ally Financial Inc                 | CUSIP: 02005N100<br>LEI: 549300JBN1OSM8YNAI90 | Long             | EC               | CORP              | US        |     17580 | NS      | $429831.00    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| BBVA                           | Banco Bilbao Vizcaya Argentaria SA | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     82500 | NS      | $497550.51    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Daimler Truck Holding AG       | Daimler Truck Holding AG           | CUSIP: 000000000<br>LEI: 529900PW78JIYOUBSR24 | Long             | EC               | CORP              | DE        |     23199 | NS      | $718801.88    | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Dah Sing Banking Group Ltd     | Dah Sing Banking Group Ltd         | CUSIP: 000000000<br>LEI: 529900DXBMKJOLLQOM66 | Long             | EC               | CORP              | HK        |    420400 | NS      | $301614.90    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd      | Axis Capital Holdings Ltd          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |     17700 | NS      | $958809.00    | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale SA            | Societe Generale SA                | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |     11010 | NS      | $276727.17    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp         | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     10190 | NS      | $947262.40    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| DAH SING                       | Dah Sing Financial Holdings Ltd    | CUSIP: 000000000<br>LEI: 529900J55QMXMR5KMH32 | Long             | EC               | CORP              | HK        |    221300 | NS      | $512603.89    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp            | Legacy Housing Corp                | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35413 | NS      | $671430.48    | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| UniCredit SpA                  | UniCredit SpA                      | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | EC               | CORP              | IT        |     20700 | NS      | $294085.16    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Shinhan Financial Group Co Ltd | Shinhan Financial Group Co Ltd     | CUSIP: 824596100<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |     14370 | NS      | $401354.10    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                    | NN Group NV                        | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |     18879 | NS      | $771176.41    | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TrustCo Bank Corp NY           | TrustCo Bank Corp NY               | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31397 | NS      | $1180213.23   | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                      | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     19400 | NS      | $877462.00    | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercedes-Benz Group AG         | Mercedes-Benz Group AG             | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |      8300 | NS      | $545522.73    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays PLC                   | Barclays PLC                       | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |    119000 | NS      | $228054.88    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerzbank AG                 | Commerzbank AG                     | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | EC               | CORP              | DE        |     83000 | NS      | $785055.18    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp              | Toyota Motor Corp                  | CUSIP: 892331307<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |      5310 | NS      | $725239.80    | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Aegon NV                       | Aegon NV                           | CUSIP: 000000000<br>LEI: O4QK7KMMK83ITNTHUG69 | Long             | EC               | CORP              | NL        |    139118 | NS      | $705577.57    | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group Inc     | Daiwa Securities Group Inc         | CUSIP: 000000000<br>LEI: 353800WRC7Y23PWFJG38 | Long             | EC               | CORP              | JP        |    140000 | NS      | $621914.05    | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                  | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      8980 | NS      | $696578.60    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** Gabelli Equity Series Funds Inc

**Signature:** John C. Ball

**Name of Signer:** John C. Ball

**Title:** Treasurer