Fund Evaluator:
Gabelli ABC I (GABCX)
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Best Performing in Event Driven Over the Last Year
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Fund Details
Gabelli ABC I Overview
Gabelli ABC I (GABCX) is an actively managed Alternative Event Driven fund. Gabelli launched the fund in 1993.
The investment seeks total returns. The fund invests primarily in securities of domestic and foreign issuers that the fund's investment adviser, believes provide attractive opportunities for appreciation or investment income. The Adviser seeks to limit excessive risk of capital loss by utilizing various investment strategies, including investing in value oriented common stocks, i.e., common stocks that trade at a significant discount to the Adviser's assessment of their "private market value" virtually risk free U.S. Treasury Bills, and by utilizing certain "arbitrage" strategies. It is non-diversified.
About Gabelli ABC I (GABCX)
There are 2 members of the management team with an average tenure of 16.88 years: Willis Brucker (2026), Mario Gabelli (1993). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and ICE BofA US 3M Trsy Bill TR USD index with a weighting of 100%. Gabelli ABC I has 264 securities in its portfolio. The top 10 holdings constitute 77.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Gabelli ABC I is part of the Alternative Strategies global asset class and is within the Alternative fund group. Gabelli ABC I has 7.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 36.4%. There is 7.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 9.5% (9.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Gabelli ABC I has 46.1% of the portfolio in cash.
Assets Under Management
The fund has $383 million in total assets, which is above the $333 million average for the Event Driven category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GABCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Gabelli ABC I expense ratio is high compared to funds in the Event Driven category. Gabelli ABC I has an expense ratio of 1.02%, which is 47% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Gabelli ABC I has a portfolio turnover rate of 134%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 233% for the Event Driven category.
Recently, in the month of August 2026, Gabelli ABC I returned 1.8%, which earned it a grade of A, as the Event Driven category had an average return of 0.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Gabelli ABC I has a trailing yield of 2.68%, which is above the 2.21% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Gabelli ABC I Grades
Year to date, the fund has returned 5.2%, 2.0 percentage points better than the category, which translates into a grade of A. The fund has returned 5.5% over the past year (grade of B), 7.1% over the past three years (grade of A) and 5.0% per year over the past five years (grade of A) and 3.9% per year over the past 10 years (grade of D).
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GABCX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GABCX Return (NAV) | 1.8% | 1.0% | 5.5% | 7.1% | 5.0% | 3.9% |
| GABCX Grade | A | D | B | A | A | D |
| +/- Category | 0.9% | -0.4% | -0.1% | 0.8% | 1.1% | -0.6% |
| Event Driven Avg | 0.9% | 1.4% | 5.6% | 6.3% | 3.9% | 4.5% |
| GABCX Tax Cost Ratio | na | na | 1.6% | 1.5% | 1.3% | 1.0% |
GABCX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GABCX Return (NAV) | 5.2% | 6.1% | 8.0% | 6.8% | -2.0% | 4.4% | 2.9% | 4.8% | 0.2% | 2.2% | 3.1% |
| GABCX Grade | A | D | A | A | D | B | F | D | D | F | C |
| +/- Category | 2.0% | -2.8% | 3.8% | 2.0% | -0.4% | 1.9% | -4.8% | -2.2% | -2.9% | -2.4% | 0.3% |
| Event Driven Avg | 3.3% | 8.9% | 4.2% | 4.8% | -1.6% | 2.4% | 7.7% | 7.0% | 3.1% | 4.6% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 3.8% |
| Total Risk Index: | 0.31 - Low |
| Category Risk Index: | 1.03 - Above Average |
| Category Risk Grade: | D (79% Rank) |
| Beta: | 0.20 |
| R-Squared: | 41% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 2.7% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $429 Mil |
| Fund Total Assets: | $ 384 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 134% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 33.3 years | |||
| Average Tenure: 16.9 years | |||
| Managers (Year): Gabelli Mario (1993), Brucker Willis (2026) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 264 |
| % in Top 10 Holdings: | 77.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 7.9% |
Portfolio Allocation |
|
| Domestic Stock: | 36.4% |
| Foreign Stock: | 7.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 9.5% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 46.1% |
Purchase Information
| Fund Family: | Gabelli |
| Phone Number: | 800-422-3554 |
| Website: | www.gabelli.com |
| Status: | Open |
| Inception Date: | May 14, 1993 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.02% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.92% |
| Share Class: | Gabelli ABC I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
