# EDGAR Filing Document

**Accession Number:** 0001080720
**File Stem:** 0000940400-25-012093
**Filing Date:** 2025-12
**Character Count:** 73030
**Document Hash:** 81a16d757eec946bce6bb9935f98ead2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-012093.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000940400-25-012093

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GABELLI UTILITY TRUST
- **CENTRAL INDEX KEY:** 0001080720

**ORGANIZATION NAME:**
- **EIN:** 134046522
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09243
- **FILM NUMBER:** 251536745

**BUSINESS ADDRESS:**
- **STREET 1:** 1 CORPORATE CENTER
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 9149215083

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GABELLI UTILITY FUND
- **DATE OF NAME CHANGE:** 19990225

## 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 Utility Trust

- **b. Investment Company Act file number:** 811-09243

- **c. CIK number of Registrant:** 0001080720

- **d. LEI of Registrant:** 549300TMXE7MFFNTOM48

- **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:** Gabelli Utility Trust

- **c. LEI of Series:** 549300TMXE7MFFNTOM48

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $331217995.82

**Total Liabilities:** $47791911.19

**Net Assets:** $283426084.63

**Cash Not Reported:** $2768.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 4.68%                | -0.80%               | 3.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $297482.38               | $6188620.59                                |
| Month 2  | $1639697.80              | $2022506.73                                |
| Month 3  | $2270634.65              | $5250363.86                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Halliburton Co                              | Halliburton Co                                      | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     33000 | NS      | $811800.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Proximus SADP                               | Proximus SADP                                       | CUSIP: 000000000<br>LEI: 549300CWRXC5EP004533 | Long             | EC               | CORP              | BE        |     10500 | NS      | $91716.79     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sulzer AG                                   | Sulzer AG                                           | CUSIP: 000000000<br>LEI: 529900NZ6MAST5IJF669 | Long             | EC               | CORP              | CH        |       100 | NS      | $16933.61     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ITV PLC                                     | ITV PLC                                             | CUSIP: 000000000<br>LEI: ZLECI7ED2QMWFGYCXZ59 | Long             | EC               | CORP              | GB        |    270000 | NS      | $290316.84    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Telephone and Data Systems Inc              | Telephone and Data Systems Inc                      | CUSIP: 879433829<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $981000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| GAM Holding AG                              | GAM Holding AG                                      | CUSIP: 000000000<br>LEI: 549300GGVID7ZGDMX291 | Long             | EC               | CORP              | CH        |    150000 | NS      | $27887.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                                   | Endesa SA                                           | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     33000 | NS      | $1054214.72   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                    | Enel SpA                                            | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |    300000 | NS      | $2840966.19   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison Inc                     | Consolidated Edison Inc                             | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     28500 | NS      | $2864820.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pharol SGPS SA                              | Pharol SGPS SA                                      | CUSIP: 000000000<br>LEI: 549300JNP3LA8FWLU630 | Long             | EC               | CORP              | PT        |     30000 | NS      | $2211.91      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                      | CenterPoint Energy Inc                              | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |      8470 | NS      | $328636.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc                           | Kinder Morgan Inc                                   | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    103821 | NS      | $2939172.51   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| American States Water Co                    | American States Water Co                            | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |     26000 | NS      | $1906320.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogeco Communications Inc                   | Cogeco Communications Inc                           | CUSIP: 19239C106<br>LEI: 549300XHH6LJM6IAXV57 | Long             | EC               | CORP              | CA        |      7500 | NS      | $344686.35    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                 | Ameren Corp                                         | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     17050 | NS      | $1779679.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Bouygues SA                                 | Bouygues SA                                         | CUSIP: 000000000<br>LEI: 969500MOCLNQFNZN0D63 | Long             | EC               | CORP              | FR        |     17000 | NS      | $764823.13    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                    | AT&T Inc                                            | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     35000 | NS      | $988400.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                    | EQT Corp                                            | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |       380 | NS      | $20683.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OGE Energy Corp                             | OGE Energy Corp                                     | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |    176900 | NS      | $8185163.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc                                     | BCE Inc                                             | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |      1000 | NS      | $23367.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Co                        | National Fuel Gas Co                                | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     98182 | NS      | $9069071.34   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Alstom SA                                   | Alstom SA                                           | CUSIP: 000000000<br>LEI: 96950032TUYMW11FB530 | Long             | EC               | CORP              | FR        |       548 | NS      | $14231.55     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                | Chevron Corp                                        | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1900 | NS      | $295051.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                          | Energy Transfer LP                                  | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     84500 | NS      | $1450020.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hera SpA                                    | Hera SpA                                            | CUSIP: 000000000<br>LEI: 8156009414FD99443B48 | Long             | EC               | CORP              | IT        |    560000 | NS      | $2518102.44   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                                 | Avista Corp                                         | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     53000 | NS      | $2003930.00   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                                    | Engie SA                                            | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |     12300 | NS      | $263617.08    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Turkcell Iletisim Hizmetleri A              | Turkcell Iletisim Hizmetleri AS                     | CUSIP: 900111204<br>LEI: 7890003EX1LTLS2FFL84 | Long             | EC               | CORP              | TR        |     60000 | NS      | $361200.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                         | CUSIP: 912797QQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5785000 | PA      | $5757326.01   | 2.03%             | 2025-11-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                         | Dominion Energy Inc                                 | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     43500 | NS      | $2660895.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                   | Keysight Technologies Inc                           | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      2000 | NS      | $349840.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| EDP SA                                      | EDP SA                                              | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | EC               | CORP              | PT        |      7595 | NS      | $35997.56     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                                   | Spire Inc                                           | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |     14600 | NS      | $1190192.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries I              | Hawaiian Electric Industries Inc                    | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |     19000 | NS      | $209760.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Electric Power Co Inc                | Kyushu Electric Power Co Inc                        | CUSIP: 000000000<br>LEI: 549300BYNZPLKQVQH430 | Long             | EC               | CORP              | JP        |     22000 | NS      | $220096.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                         | CUSIP: 912797SF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3940000 | PA      | $3896554.05   | 1.37%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vestas Wind Systems A/S                     | Vestas Wind Systems A/S                             | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |      6000 | NS      | $113053.53    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eos Energy Enterprises Inc                  | Eos Energy Enterprises Inc                          | CUSIP: 29415C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4200 | NS      | $47838.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp                        | Range Resources Corp                                | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |      1360 | NS      | $51190.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                         | Deutsche Telekom AG                                 | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     91000 | NS      | $3099386.34   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Renewable Corp                   | Brookfield Renewable Corp                           | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | US        |      2950 | NS      | $101539.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc                                     | BCE Inc                                             | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |     10000 | NS      | $233900.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries Inc                      | Trinity Industries Inc                              | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     12000 | NS      | $336480.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp                                   | GATX Corp                                           | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |     16000 | NS      | $2796800.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE Energy Inc                              | MGE Energy Inc                                      | CUSIP: 55277P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56400 | NS      | $4747752.00   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HUTCHTEL HK                                 | Hutchison Telecommunications Hong Kong Holdings Ltd | CUSIP: 000000000<br>LEI: 254900ZIRESZ56ME6215 | Long             | EC               | CORP              | HK        |       200 | NS      | $28.27        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp                         | Alliant Energy Corp                                 | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     78345 | NS      | $5281236.45   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Orascom Financial Holding SAE               | Orascom Financial Holding SAE                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | EG        |     59000 | NS      | $799.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                        | Edison International                                | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     50000 | NS      | $2764000.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLETE Inc                                  | ALLETE Inc                                          | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |     15000 | NS      | $996000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                             | Xcel Energy Inc                                     | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    135200 | NS      | $10903880.00  | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Artesian Resources Corp                     | Artesian Resources Corp                             | CUSIP: 043113208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23000 | NS      | $749685.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                         | Cheniere Energy Inc                                 | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |       200 | NS      | $46996.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sable Offshore Corp                         | Sable Offshore Corp                                 | CUSIP: 78574H104<br>LEI: 254900IMMKZUOZF7V487 | Long             | EC               | CORP              | US        |       201 | NS      | $3509.46      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                           | CNH Industrial NV                                   | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |    208000 | NS      | $2256800.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc                  | Charter Communications Inc                          | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      2100 | NS      | $577720.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Tech Inc                              | Tetra Tech Inc                                      | CUSIP: 88162G103<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | EC               | CORP              | US        |       500 | NS      | $16690.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Middlesex Water Co                          | Middlesex Water Co                                  | CUSIP: 596680108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6200 | NS      | $335544.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubu Electric Power Co Inc                 | Chubu Electric Power Co Inc                         | CUSIP: 000000000<br>LEI: 529900A76GOP0PGNHT63 | Long             | EC               | CORP              | JP        |      7500 | NS      | $104397.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SK Telecom Co Ltd                           | SK Telecom Co Ltd                                   | CUSIP: 78440P306<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |      2300 | NS      | $49680.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                             | T-Mobile US Inc                                     | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      5200 | NS      | $1244776.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange Belgium SA                           | Orange Belgium SA                                   | CUSIP: 000000000<br>LEI: 5493007JS0ZHJVBUWP18 | Long             | EC               | CORP              | BE        |    143500 | NS      | $3201047.33   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                                 | Graham Corp                                         | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |      1396 | NS      | $76640.40     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                     | Essential Utilities Inc                             | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     26000 | NS      | $1037400.00   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| XPLR Infrastructure LP                      | XPLR Infrastructure LP                              | CUSIP: 65341B106<br>LEI: 5493008F4ZOQFNG3WN54 | Long             | EC               | CORP              | US        |     32900 | NS      | $334593.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VEON Ltd                                    | VEON Ltd                                            | CUSIP: 91822M502<br>LEI: 5493008CA3NMHYEVT131 | Long             | EC               | CORP              | AE        |     10000 | NS      | $544300.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinnevik AB                                 | Kinnevik AB                                         | CUSIP: 000000000<br>LEI: 2138006PZH76JOS6MN27 | Long             | EC               | CORP              | SE        |      5500 | NS      | $49190.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc                  | Mueller Water Products Inc                          | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |      1686 | NS      | $43026.72     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugoku Electric Power Co Inc/              | Chugoku Electric Power Co Inc/The                   | CUSIP: 000000000<br>LEI: 353800MV866ELME96Q46 | Long             | EC               | CORP              | JP        |      8000 | NS      | $45619.23     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                         | Clearway Energy Inc                                 | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |      3000 | NS      | $84750.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hokkaido Electric Power Co Inc              | Hokkaido Electric Power Co Inc                      | CUSIP: 000000000<br>LEI: 353800XDXIIZDHUO0J51 | Long             | EC               | CORP              | JP        |     15000 | NS      | $109950.30    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Gabelli U.S. Treasury Money Market Fund | The Gabelli U.S. Treasury Money Market Fund         | CUSIP: 36239W106<br>LEI: 549300PDG2ZFF5RRB446 | Long             | STIV             | RF                | US        |   2369893 | NS      | $2369893.27   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp                   | Constellation Energy Corp                           | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     18150 | NS      | $5972620.50   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                                | Entergy Corp                                        | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      7700 | NS      | $717563.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| PrairieSky Royalty Ltd                      | PrairieSky Royalty Ltd                              | CUSIP: 739721108<br>LEI: 529900AXG582AP7CV733 | Long             | EC               | CORP              | CA        |     20000 | NS      | $371056.98    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                                | Ducommun Inc                                        | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |       275 | NS      | $26435.75     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                         | CUSIP: 912797QZ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    980000 | PA      | $971804.29    | 0.34%             | 2025-12-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Medmix AG                                   | Medmix AG                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |       300 | NS      | $3369.14      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT Inc                                     | NTT Inc                                             | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |   1750000 | NS      | $1830645.43   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc              | American Electric Power Co Inc                      | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     47450 | NS      | $5338125.00   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelleron Industries AG                    | Accelleron Industries AG                            | CUSIP: 00449R109<br>LEI: 254900KS0MD2PAARXD14 | Long             | EC               | CORP              | CH        |      1200 | NS      | $100656.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd                   | Liberty Latin America Ltd                           | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |      5947 | NS      | $50192.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd                          | Liberty Global Ltd                                  | CUSIP: 000000000<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |     83000 | NS      | $975250.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera Inc                                   | Emera Inc                                           | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |      7000 | NS      | $335841.06    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc                  | SolarEdge Technologies Inc                          | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | IL        |       300 | NS      | $11100.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa Inc                                  | Arcosa Inc                                          | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |       200 | NS      | $18742.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                              | TechnipFMC PLC                                      | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |       681 | NS      | $26865.45     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                   | PG&E Corp                                           | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     50000 | NS      | $754000.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                                 | ONE Gas Inc                                         | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |     30300 | NS      | $2452482.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                               | DTE Energy Co                                       | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     16800 | NS      | $2376024.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Anterix Inc                                 | Anterix Inc                                         | CUSIP: 03676C100<br>LEI: 549300QIX2QHFGIEQG40 | Long             | EC               | CORP              | US        |     40000 | NS      | $858800.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                      | Sempra                                              | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      1989 | NS      | $178970.22    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SDCL EDGE ACQUISITION CORP-A                | SDCL EDGE Acquisition Corp                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7500 | NS      | $225.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cameco Corp                                 | Cameco Corp                                         | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     54142 | NS      | $4540348.12   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| H2O America                                 | H2O America                                         | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29000 | NS      | $1412300.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                             | Schlumberger NV                                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |       703 | NS      | $24162.11     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluidra SA                                  | Fluidra SA                                          | CUSIP: 000000000<br>LEI: 95980020140005026620 | Long             | EC               | CORP              | ES        |       800 | NS      | $21658.87     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Telekom Austria AG                          | Telekom Austria AG                                  | CUSIP: 000000000<br>LEI: 529900KCNFQU5OJH7L33 | Long             | EC               | CORP              | AT        |     85000 | NS      | $908127.68    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica SA                               | Telefonica SA                                       | CUSIP: 879382208<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |    250000 | NS      | $1270000.00   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogeco Inc                                  | Cogeco Inc                                          | CUSIP: 19238T100<br>LEI: 5493000KSZQCX0QM2V25 | Long             | EC               | CORP              | CA        |     20900 | NS      | $908114.54    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc                      | Valmont Industries Inc                              | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      1000 | NS      | $387730.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitil Corp                                 | Unitil Corp                                         | CUSIP: 913259107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17000 | NS      | $813620.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Millicom International Cellula              | Millicom International Cellular SA                  | CUSIP: 000000000<br>LEI: 549300CTHC1CP86P2G96 | Long             | EC               | CORP              | LU        |     96000 | NS      | $4659840.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Otter Tail Corp                             | Otter Tail Corp                                     | CUSIP: 689648103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     56500 | NS      | $4631305.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Eurotelesites AG                            | Eurotelesites AG                                    | CUSIP: 000000000<br>LEI: 5299007TJV9W1OY91Y28 | Long             | EC               | CORP              | AT        |     21250 | NS      | $122746.93    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                            | Duke Energy Corp                                    | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     66500 | NS      | $8229375.00   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                              | Flowserve Corp                                      | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |       936 | NS      | $49739.04     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunrise Communications AG                   | Sunrise Communications AG                           | CUSIP: 000000000<br>LEI: 213800RS9HRGTWOGCO08 | Long             | EC               | CORP              | CH        |     19500 | NS      | $1151799.51   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Natural Holding Co                | Northwest Natural Holding Co                        | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |      7000 | NS      | $314510.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                   | ONEOK Inc                                           | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    139200 | NS      | $10157424.00  | 3.58%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                     | ABB Ltd                                             | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     21000 | NS      | $1510950.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC                            | Severn Trent PLC                                    | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |    132000 | NS      | $4594393.58   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| EchoStar Corp                               | EchoStar Corp                                       | CUSIP: 278768106<br>LEI: 549300EE20907QZ9GT38 | Long             | EC               | CORP              | US        |      2000 | NS      | $152720.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                               | Tidewater Inc                                       | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |       103 | NS      | $5492.99      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                            | Knife River Corp                                    | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2500 | NS      | $192175.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BT Group PLC                                | BT Group PLC                                        | CUSIP: 000000000<br>LEI: 213800LRO7NS5CYQMN21 | Long             | EC               | CORP              | GB        |    100000 | NS      | $257077.63    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp                 | Matthews International Corp                         | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |      1000 | NS      | $24280.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Indosat Tbk PT                              | Indosat Tbk PT                                      | CUSIP: 000000000<br>LEI: 254900YJOUDT9FUSHL33 | Long             | EC               | CORP              | ID        |      8000 | NS      | $840.08       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                      | Mueller Industries Inc                              | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     39000 | NS      | $3943290.00   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Veolia Environnement SA                     | Veolia Environnement SA                             | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | EC               | CORP              | FR        |     27712 | NS      | $942872.23    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                             | Sony Group Corp                                     | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     54000 | NS      | $1554660.00   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                         | General Electric Co                                 | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     10000 | NS      | $3008200.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                           | Eversource Energy                                   | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |    109700 | NS      | $7804058.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Capstone Green Energy Holdings              | Capstone Green Energy Holdings Inc                  | CUSIP: 14067D607<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $13725.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                         | CUSIP: 912797QG5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8000000 | PA      | $7980329.04   | 2.82%             | 2025-10-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Atmos Energy Corp                           | Atmos Energy Corp                                   | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |     23050 | NS      | $3935787.50   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansai Electric Power Co Inc/T              | Kansai Electric Power Co Inc/The                    | CUSIP: 000000000<br>LEI: 353800PFUKP5ONPJNZ86 | Long             | EC               | CORP              | JP        |     25000 | NS      | $358133.01    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                                | Iberdrola SA                                        | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     96000 | NS      | $1815175.22   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                           | National Grid PLC                                   | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |    100625 | NS      | $1444653.75   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc                  | Southwest Gas Holdings Inc                          | CUSIP: 844895102<br>LEI: 254900LKF9EV0CUKNE09 | Long             | EC               | CORP              | US        |    122615 | NS      | $9605659.10   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd                   | Liberty Latin America Ltd                           | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |     95000 | NS      | $787550.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc                 | American Water Works Co Inc                         | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     22400 | NS      | $3117856.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc                                | Enbridge Inc                                        | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     98500 | NS      | $4970310.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                     | AZZ Inc                                             | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     13000 | NS      | $1418690.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Furukawa Electric Co Ltd                    | Furukawa Electric Co Ltd                            | CUSIP: 000000000<br>LEI: 353800TJR1DQ3P1QR918 | Long             | EC               | CORP              | JP        |      7500 | NS      | $462115.83    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                                    | PPL Corp                                            | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     22240 | NS      | $826438.40    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Altice USA Inc                              | Altice USA Inc                                      | CUSIP: 02156K103<br>LEI: 54930064K3612MGCER95 | Long             | EC               | CORP              | US        |      3000 | NS      | $7230.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                            | Exxon Mobil Corp                                    | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     16500 | NS      | $1860375.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Shikoku Electric Power Co Inc               | Shikoku Electric Power Co Inc                       | CUSIP: 000000000<br>LEI: 353800KWK6U7ZCIWXS64 | Long             | EC               | CORP              | JP        |     15000 | NS      | $133380.67    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                                | Xylem Inc/NY                                        | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      1200 | NS      | $177000.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc                      | Ormat Technologies Inc                              | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     12500 | NS      | $1203125.00   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                            | Black Hills Corp                                    | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |     33000 | NS      | $2032470.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                            | DT Midstream Inc                                    | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $904480.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                         | Deutsche Telekom AG                                 | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     60000 | NS      | $2049000.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Operadora De Sites Mexicanos S              | Operadora De Sites Mexicanos SAB de CV              | CUSIP: 000000000<br>LEI: 4469000001BRCBO8VP14 | Long             | EC               | CORP              | MX        |      1200 | NS      | $1127.69      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tohoku Electric Power Co Inc                | Tohoku Electric Power Co Inc                        | CUSIP: 000000000<br>LEI: 353800KTF7EYIIYHY088 | Long             | EC               | CORP              | JP        |     11000 | NS      | $80035.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc               | Everus Construction Group Inc                       | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |      2500 | NS      | $214375.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries Inc                    | Gibraltar Industries Inc                            | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       155 | NS      | $9734.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| York Water Co/The                           | York Water Co/The                                   | CUSIP: 987184108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9100 | NS      | $276822.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SONY FINANCIAL GROUP INC                    | SONY FINANCIAL GROUP INC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10800 | NS      | $59832.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tele2 AB                                    | Tele2 AB                                            | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | EC               | CORP              | SE        |      1350 | NS      | $23022.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp                  | Pinnacle West Capital Corp                          | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      2400 | NS      | $215184.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp                             | CMS Energy Corp                                     | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     79244 | NS      | $5805415.44   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Telesat Corp                                | Telesat Corp                                        | CUSIP: 879512309<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     30000 | NS      | $795000.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                           | Devon Energy Corp                                   | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |      4500 | NS      | $157770.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                           | National Grid PLC                                   | CUSIP: 636274409<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     58000 | NS      | $4214860.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc               | Northwestern Energy Group Inc                       | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |     72500 | NS      | $4249225.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Algonquin Power & Utilities Co              | Algonquin Power & Utilities Corp                    | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EC               | CORP              | CA        |    110000 | NS      | $590700.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| L B Foster Co                               | L B Foster Co                                       | CUSIP: 350060109<br>LEI: 549300AUUJGJ2T2L2179 | Long             | EC               | CORP              | US        |      2036 | NS      | $54870.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                         | CUSIP: 912797NU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1110000 | PA      | $1099791.09   | 0.39%             | 2025-12-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Rogers Communications Inc                   | Rogers Communications Inc                           | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |     27000 | NS      | $930690.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Landis+Gyr Group AG                         | Landis+Gyr Group AG                                 | CUSIP: 000000000<br>LEI: 529900PZYVAKCYSLFL19 | Long             | EC               | CORP              | CH        |      2700 | NS      | $217750.14    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc                     | MDU Resources Group Inc                             | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $178100.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc                             | TXNM Energy Inc                                     | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     81650 | NS      | $4617307.50   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| RGC Resources Inc                           | RGC Resources Inc                                   | CUSIP: 74955L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55000 | NS      | $1234200.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HUANENG POWER                               | Huaneng Power International Inc                     | CUSIP: 000000000<br>LEI: 529900WU0SMVKMPG4V21 | Long             | EC               | CORP              | CN        |    220000 | NS      | $153226.38    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Cor              | Zurn Elkay Water Solutions Corp                     | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |      4100 | NS      | $192823.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                          | NextEra Energy Inc                                  | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    172500 | NS      | $13022025.00  | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc              | Air Products and Chemicals Inc                      | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       200 | NS      | $54544.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                            | Badger Meter Inc                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |       400 | NS      | $71432.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou              | Public Service Enterprise Group Inc                 | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     31673 | NS      | $2643428.58   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                               | Timken Co/The                                       | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |       200 | NS      | $15036.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                                 | IDACORP Inc                                         | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      4650 | NS      | $614497.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                                     | ITT Inc                                             | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |       166 | NS      | $29674.16     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp/The                                | AES Corp/The                                        | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    251600 | NS      | $3311056.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                  | Verizon Communications Inc                          | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     35000 | NS      | $1538250.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Iveco Group NV                              | Iveco Group NV                                      | CUSIP: 000000000<br>LEI: 549300ZWF2ZJDD9EOR96 | Long             | EC               | CORP              | IT        |     40000 | NS      | $861987.51    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                            | FirstEnergy Corp                                    | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     95400 | NS      | $4371228.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Hokuriku Electric Power Co                  | Hokuriku Electric Power Co                          | CUSIP: 000000000<br>LEI: 353800Z4ZNGBULYR8W57 | Long             | EC               | CORP              | JP        |     13000 | NS      | $74315.85     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Electric Power Development Co               | Electric Power Development Co Ltd                   | CUSIP: 000000000<br>LEI: 549300KMHPUAQI8VEH90 | Long             | EC               | CORP              | JP        |    115000 | NS      | $2157537.95   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                   | Orange SA                                           | CUSIP: 684060106<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |      6000 | NS      | $97380.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| America Movil SAB de CV                     | America Movil SAB de CV                             | CUSIP: 02390A101<br>LEI: 5493000FNR3UCEAONM59 | Long             | EC               | CORP              | MX        |      5000 | NS      | $105000.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                   | Linde PLC                                           | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |       250 | NS      | $118750.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SMARTONE TELE                               | SmarTone Telecommunications Holdings Ltd            | CUSIP: 000000000<br>LEI: 529900CT7EGMVQRYNQ45 | Long             | EC               | CORP              | HK        |       400 | NS      | $239.01       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co                | Portland General Electric Co                        | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     58300 | NS      | $2565200.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp                   | Chesapeake Utilities Corp                           | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      9000 | NS      | $1212210.00   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovex International Inc                   | Innovex International Inc                           | CUSIP: 457651107<br>LEI: 5299007REICYIJNMW197 | Long             | EC               | CORP              | US        |     18300 | NS      | $339282.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Korea Electric Power Corp                   | Korea Electric Power Corp                           | CUSIP: 500631106<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |     38000 | NS      | $495900.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                             | Southern Co/The                                     | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      3200 | NS      | $303264.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                          | Vodafone Group PLC                                  | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |    230000 | NS      | $2668000.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                 | Exelon Corp                                         | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     65800 | NS      | $2961658.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                        | WEC Energy Group Inc                                | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |    112170 | NS      | $12853560.30  | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                  | Evergy Inc                                          | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |    126500 | NS      | $9616530.00   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group              | California Water Service Group                      | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |     33200 | NS      | $1523548.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Array Digital Infrastructure I              | Array Digital Infrastructure Inc                    | CUSIP: 911684108<br>LEI: 549300B164AZXESI6E03 | Long             | EC               | CORP              | US        |     29400 | NS      | $1470294.00   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Global Ltd                          | Liberty Global Ltd                                  | CUSIP: 000000000<br>LEI: 213800HRMKKTYH7SKA24 | Long             | EC               | CORP              | GB        |     83000 | NS      | $951180.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Resideo Technologies Inc                    | Resideo Technologies Inc                            | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |       345 | NS      | $14897.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia de Minas Buenaventura SAA               | Cia de Minas Buenaventura SAA                       | CUSIP: 204448104<br>LEI: 529900WQB1ZU9KB6EL71 | Long             | EC               | CORP              | PE        |     30000 | NS      | $729900.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Orascom Investment Holding                  | Orascom Investment Holding                          | CUSIP: 68555D206<br>LEI: 549300UT4N1DC4S2ZB61 | Long             | EC               | CORP              | EG        |     10000 | NS      | $140.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Venture Global Inc                          | Venture Global Inc                                  | CUSIP: 92333F101<br>LEI: 2549007XC91CAB3E0N98 | Long             | EC               | CORP              | US        |      6000 | NS      | $85140.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                              | NRG Energy Inc                                      | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |     18000 | NS      | $2915100.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                                | NiSource Inc                                        | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     48000 | NS      | $2078400.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Gabelli Utility Trust

**Signature:** John C. Ball

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

**Title:** Treasurer