The Gabelli Global Utility & Income Trust

Schedule of Investments — March 31, 2025 (Unaudited)

Market

Value

COMMON STOCKS

— 99.7%

ENERGY AND UTILITIES — 55.0%

Alternative Energy — 0.7%

Non U.S. Companies

750‌

Brookfield Renewable Corp.

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

$ 20,940‌

5,500‌

Vestas Wind Systems A/S†

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

75,665‌

U.S. Companies

7,500‌

Ormat Technologies Inc.

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

530,775‌

400‌

SolarEdge Technologies Inc.†

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

6,472‌

17,250‌

XPLR Infrastructure LP

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

163,875‌

797,727‌

Diversified Industrial — 2.8%

Non U.S. Companies

22,000‌

Bouygues SA

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

866,143‌

17,700‌

Jardine Matheson Holdings Ltd.

.........

749,772‌

U.S. Companies

200‌

Chart Industries Inc.†

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

28,872‌

25,000‌

Flowserve Corp.

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

1,221,000‌

3,000‌

General Electric Co.

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

600,450‌

3,466,237‌

Electric Transmission and Distribution — 3.8%

Non U.S. Companies

153,500‌

Algonquin Power & Utilities Corp., New

York

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

788,990‌

1,300‌

Boralex Inc., Cl. A

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

26,126‌

28,000‌

Enel Chile SA, ADR

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

91,560‌

9,500‌

Fortis Inc.

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

432,733‌

650‌

Fortis Inc., New York

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

29,627‌

9,600‌

Landis+Gyr Group AG

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

566,429‌

700‌

Orsted AS†

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

30,578‌

18,000‌

Redeia Corp. SA

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

361,241‌

2,500‌

RWE AG

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

89,261‌

U.S. Companies

500‌

CenterPoint Energy Inc.

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

18,115‌

1,200‌

Consolidated Edison Inc.

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

132,708‌

700‌

Sempra

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

49,952‌

32,500‌

Twin Disc Inc.

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

246,025‌

5,500‌

Unitil Corp.

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

317,295‌

13,200‌

WEC Energy Group Inc.

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

1,438,536‌

4,619,176‌

Energy and Utilities: Integrated — 29.2%

Non U.S. Companies

140,000‌

A2A SpA

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

336,825‌

10,000‌

Chubu Electric Power Co. Inc.

...........

108,207‌

152,000‌

Datang International Power Generation Co.

Ltd., Cl. H

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

31,840‌

2,000‌

E.ON SE

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

30,190‌

14,000‌

E.ON SE, ADR

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

212,135‌

17,615‌

EDP SA

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

59,275‌

Market

Value

9,000‌

EDP SA, ADR

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

$ 307,170‌

14,500‌

Electric Power Development Co. Ltd.

.....

244,776‌

35,200‌

Emera Inc.

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

1,482,556‌

10,000‌

Endesa SA

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

264,918‌

157,000‌

Enel SpA

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

1,272,721‌

4,000‌

Eni SpA

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

61,842‌

7,000‌

Eni SpA, ADR

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

216,510‌

225,000‌

Hera SpA

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

973,170‌

15,000‌

Hokkaido Electric Power Co. Inc.

.........

76,125‌

20,000‌

Hokuriku Electric Power Co.

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

111,221‌

560,000‌

Huaneng Power International Inc., Cl. H

324,567‌

131,100‌

Iberdrola SA

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

2,117,871‌

35,000‌

Korea Electric Power Corp., ADR†

........

259,350‌

23,000‌

Kyushu Electric Power Co. Inc.

..........

200,190‌

12,000‌

Shikoku Electric Power Co. Inc.

..........

92,606‌

10,000‌

The Chugoku Electric Power Co. Inc.

.....

57,337‌

14,000‌

The Kansai Electric Power Co. Inc.

.......

165,444‌

10,000‌

Tohoku Electric Power Co. Inc.

...........

68,805‌

1,800‌

Verbund AG

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

127,388‌

U.S. Companies

600‌

ALLETE Inc.

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

39,420‌

600‌

Alliant Energy Corp.

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

38,610‌

17,000‌

Ameren Corp.

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

1,706,800‌

19,700‌

American Electric Power Co. Inc.

.........

2,152,619‌

21,500‌

Avista Corp.

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

900,205‌

200‌

Badger Meter Inc.

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

38,050‌

600‌

Black Hills Corp.

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

36,390‌

9,500‌

Dominion Energy Inc.

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

532,665‌

1,000‌

DTE Energy Co.

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

138,270‌

10,000‌

Duke Energy Corp.

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

1,219,700‌

650‌

Entergy Corp.

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

55,569‌

2,000‌

Eos Energy Enterprises Inc.†

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

7,560‌

16,000‌

Evergy Inc.

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

1,103,200‌

17,800‌

Eversource Energy

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

1,105,558‌

380,000‌

Gulf Coast Ultra Deep Royalty Trust†

.....

9,500‌

10,000‌

Hawaiian Electric Industries Inc.†

........

109,500‌

7,200‌

MGE Energy Inc.

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

669,312‌

20,080‌

NextEra Energy Inc.

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

1,423,471‌

36,000‌

NiSource Inc.

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

1,443,240‌

11,000‌

Northwestern Energy Group Inc.

.........

636,570‌

34,000‌

OGE Energy Corp.

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

1,562,640‌

10,000‌

Otter Tail Corp.

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

803,700‌

14,500‌

PG&E Corp.

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

249,110‌

13,700‌

Pinnacle West Capital Corp.

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

1,304,925‌

39,500‌

Portland General Electric Co.

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

1,761,700‌

9,900‌

PPL Corp.

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

357,489‌

14,500‌

Public Service Enterprise Group Inc.

.....

1,193,350‌

120,000‌

The AES Corp.

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

1,490,400‌

17,700‌

The Southern Co.

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

1,627,515‌

25,000‌

TXNM Energy Inc.

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

1,337,000‌

The Gabelli Global Utility & Income Trust

Schedule of Investments (Continued) — March 31, 2025 (Unaudited)

Market

Value

COMMON STOCKS (Continued)

ENERGY AND UTILITIES (Continued)

Energy and Utilities: Integrated (Continued)

U.S. Companies (Continued)

18,000‌

Xcel Energy Inc.

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

$ 1,274,220‌

35,531,297‌

Environmental Services — 0.4%

Non U.S. Companies

2,500‌

Cia de Saneamento Basico do Estado de

Sao Paulo SABESP, ADR

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

44,650‌

13,800‌

Veolia Environnement SA

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

473,771‌

U.S. Companies

2,640‌

SkyWater Technology Inc.†

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

18,718‌

537,139‌

Independent Power Producers and Energy

Traders — 0.5%

U.S. Companies

2,000‌

NRG Energy Inc.

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

190,920‌

3,600‌

Vistra Corp.

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

422,784‌

613,704‌

Machinery — 0.2%

Non U.S. Companies

1,750‌

Accelleron Industries AG, ADR

...........

80,325‌

U.S. Companies

8,000‌

Innovex International Inc.†

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

143,680‌

224,005‌

Natural Gas Integrated — 5.2%

Non U.S. Companies

80,000‌

Snam SpA

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

414,787‌

900‌

TC Energy Corp.

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

42,489‌

U.S. Companies

500‌

DT Midstream Inc.

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

48,240‌

29,000‌

Kinder Morgan Inc.

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

827,370‌

57,500‌

National Fuel Gas Co.

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

4,553,425‌

4,000‌

ONEOK Inc.

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

396,880‌

6,283,191‌

Natural Gas Utilities — 3.8%

Non U.S. Companies

1,000‌

Engie SA

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

19,501‌

9,500‌

Engie SA, ADR

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

185,274‌

16,000‌

Italgas SpA

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

114,791‌

100,730‌

National Grid plc

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

1,313,541‌

3,500‌

National Grid plc, ADR

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

229,635‌

U.S. Companies

5,500‌

Atmos Energy Corp.

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

850,190‌

1,300‌

Chesapeake Utilities Corp.

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

166,959‌

1,000‌

ONE Gas Inc.

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

75,590‌

Market

Value

10,000‌

RGC Resources Inc.

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

$ 208,700‌

19,000‌

Southwest Gas Holdings Inc.

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

1,364,200‌

2,000‌

Spire Inc.

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

156,500‌

4,684,881‌

Natural Resources — 0.9%

Non U.S. Companies

14,000‌

Cameco Corp.

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

576,240‌

100‌

Linde plc

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

46,564‌

U.S. Companies

6,800‌

APA Corp.

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

142,936‌

1,800‌

Diamondback Energy Inc.

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

287,784‌

1,053,524‌

Oil — 1.3%

Non U.S. Companies

13,500‌

BP plc, ADR

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

456,165‌

10,000‌

Petroleo Brasileiro SA, ADR

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

143,400‌

16,000‌

PrairieSky Royalty Ltd.

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

288,523‌

7,200‌

Shell plc, ADR

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

527,616‌

U.S. Companies

1,000‌

ConocoPhillips

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

105,020‌

1,520,724‌

Services — 4.4%

Non U.S. Companies

27,200‌

ABB Ltd., ADR

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

1,418,208‌

23,000‌

Enbridge Inc.

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

1,019,130‌

3,200‌

First Sensor AG

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

200,689‌

180‌

South Bow Corp.

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

4,594‌

U.S. Companies

23,800‌

AZZ Inc.

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

1,989,918‌

20,000‌

Halliburton Co.

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

507,400‌

12,500‌

MDU Resources Group Inc.

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

211,375‌

5,351,314‌

Water — 1.8%

Non U.S. Companies

4,700‌

Consolidated Water Co. Ltd.

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

115,103‌

40,000‌

Fluence Corp. Ltd.†

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

1,425‌

31,500‌

Severn Trent plc

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

1,029,867‌

35,000‌

United Utilities Group plc

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

455,955‌

U.S. Companies

500‌

Artesian Resources Corp., Cl. A

..........

16,325‌

5,000‌

California Water Service Group

..........

242,300‌

6,500‌

Essential Utilities Inc.

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

256,945‌

1,000‌

Middlesex Water Co.

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

64,100‌

1,200‌

SJW Group

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

65,628‌

2,247,648‌

TOTAL ENERGY AND UTILITIES

.......

66,930,567‌

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

The Gabelli Global Utility & Income Trust

Schedule of Investments (Continued) — March 31, 2025 (Unaudited)

Market

Value

COMMON STOCKS (Continued)

OTHER — 28.0%

Aerospace — 1.2%

Non U.S. Companies

100,000‌

Rolls-Royce Holdings plc†

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

$ 967,521‌

U.S. Companies

9,200‌

AAR Corp.†

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

515,108‌

1,482,629‌

Automotive — 2.2%

Non U.S. Companies

350‌

Ferrari NV

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

149,758‌

85,000‌

Iveco Group NV

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

1,385,091‌

32,400‌

Traton SE

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

1,089,561‌

U.S. Companies

500‌

General Motors Co.

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

23,515‌

2,647,925‌

Building and Construction — 0.8%

Non U.S. Companies

500‌

Acciona SA

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

65,311‌

1,000‌

CRH plc

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

87,970‌

1,400‌

Sika AG

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

337,380‌

U.S. Companies

1,200‌

Arcosa Inc.

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

92,544‌

3,125‌

Everus Construction Group Inc.†

.........

115,906‌

300‌

Herc Holdings Inc.

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

40,281‌

2,500‌

Knife River Corp.†

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

225,525‌

964,917‌

Business Services — 0.6%

Non U.S. Companies

40,700‌

JCDecaux SE†

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

685,659‌

Computer Hardware — 0.0%

U.S. Companies

300‌

Dell Technologies Inc., Cl. C

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

27,345‌

Computer Software and Services — 0.6%

Non U.S. Companies

550‌

Check Point Software Technologies Ltd.†

125,356‌

7,500‌

Prosus NV

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

345,273‌

U.S. Companies

150‌

Global Payments Inc.

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

14,688‌

2,100‌

Kyndryl Holdings Inc.†

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

65,940‌

3,800‌

N-able Inc.†

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

26,942‌

500‌

Oracle Corp.

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

69,905‌

3,500‌

SolarWinds Corp.

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

64,505‌

712,609‌

Market

Value

Consumer Products — 0.4%

Non U.S. Companies

15,000‌

Essity AB, Cl. B

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

$ 425,894‌

3,000‌

Salvatore Ferragamo SpA

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

20,112‌

446,006‌

Consumer Services — 0.4%

U.S. Companies

22,000‌

Matthews International Corp., Cl. A

.......

489,280‌

Diversified Industrial — 0.4%

Non U.S. Companies

1,300‌

Velan Inc.

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

14,680‌

U.S. Companies

500‌

Corning Inc.

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

22,890‌

17,000‌

Trinity Industries Inc.

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

477,020‌

514,590‌

Electronics — 2.8%

Non U.S. Companies

40,000‌

Kyocera Corp.

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

446,830‌

1,000‌

Signify NV

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

21,561‌

105,000‌

Sony Group Corp., ADR

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

2,665,950‌

U.S. Companies

1,500‌

Advanced Micro Devices Inc.†

...........

154,110‌

800‌

Axcelis Technologies Inc.†

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

39,736‌

2,817‌

Kimball Electronics Inc.†

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

46,339‌

1,000‌

Proto Labs Inc.†

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

35,040‌

50‌

Texas Instruments Inc.

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

8,985‌

100‌

Universal Display Corp.

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

13,948‌

3,432,499‌

Entertainment — 1.5%

Non U.S. Companies

180,000‌

Grupo Televisa SAB, ADR

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

315,000‌

24,000‌

Manchester United plc, Cl. A†

...........

314,160‌

41,000‌

Ollamani SAB†

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

91,138‌

U.S. Companies

18,000‌

Fox Corp., Cl. B

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

948,780‌

10,000‌

Warner Bros Discovery Inc.†

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

107,300‌

1,776,378‌

Financial Services — 5.5%

Non U.S. Companies

1,125‌

Brookfield Asset Management Ltd., Cl. A

54,506‌

4,500‌

Brookfield Corp.

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

235,845‌

55,000‌

Commerzbank AG

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

1,247,117‌

10,000‌

Janus Henderson Group plc

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

361,500‌

2,500‌

Kinnevik AB, Cl. A

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

18,454‌

135,000‌

Orascom Financial Holding SAE†

.........

1,191‌

100,000‌

Resona Holdings Inc.

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

858,057‌

27,000‌

UBS Group AG

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

827,010‌

The Gabelli Global Utility & Income Trust

Schedule of Investments (Continued) — March 31, 2025 (Unaudited)

Market

Value

COMMON STOCKS (Continued)

OTHER (Continued)

Financial Services (Continued)

Non U.S. Companies (Continued)

20,000‌

UBS Group AG

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

$ 607,438‌

U.S. Companies

5,000‌

AllianceBernstein Holding LP

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

191,550‌

600‌

Bank of America Corp.

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

25,038‌

15,500‌

The Bank of New York Mellon Corp.

......

1,299,985‌

350‌

The Goldman Sachs Group Inc.

..........

191,202‌

24,500‌

UGI Corp.

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

810,215‌

500‌

Wells Fargo & Co.

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

35,895‌

6,765,003‌

Food and Beverage — 5.5%

Non U.S. Companies

100‌

Chocoladefabriken Lindt & Spruengli AG

1,349,610‌

35,000‌

Davide Campari-Milano NV

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

204,895‌

7,000‌

Diageo plc, ADR

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

733,530‌

5,400‌

Fomento Economico Mexicano SAB de CV,

ADR

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

526,932‌

6,000‌

Heineken NV

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

489,050‌

1,000‌

Kerry Group plc, Cl. A

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

105,373‌

20,000‌

Kikkoman Corp.

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

192,146‌

45,800‌

Maple Leaf Foods Inc.

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

797,892‌

10,000‌

Nestlé SA

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

1,009,834‌

2,000‌

Pernod Ricard SA

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

197,359‌

2,000‌

Remy Cointreau SA

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

93,294‌

11,000‌

Yakult Honsha Co. Ltd.

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

209,271‌

U.S. Companies

10,000‌

McCormick & Co. Inc., Non-Voting

.......

823,100‌

6,732,286‌

Health Care — 0.6%

U.S. Companies

27,200‌

Pfizer Inc.

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

689,248‌

Hotels and Gaming — 0.8%

Non U.S. Companies

150,000‌

Genting Singapore Ltd.

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

83,733‌

350,000‌

Mandarin Oriental International Ltd.

......

612,500‌

350,000‌

The Hongkong & Shanghai Hotels Ltd.

...

256,829‌

953,062‌

Machinery — 1.6%

Non U.S. Companies

154,500‌

CNH Industrial NV

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

1,897,260‌

Metals and Mining — 0.4%

U.S. Companies

14,500‌

Freeport-McMoRan Inc.

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

548,970‌

Market

Value

Semiconductors — 0.2%

Non U.S. Companies

1,873‌

GLOBALFOUNDRIES Inc.†

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

$ 69,132‌

U.S. Companies

890‌

Broadcom Inc.

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

149,013‌

218,145‌

Specialty Chemicals — 2.0%

Non U.S. Companies

1,800‌

Axalta Coating Systems Ltd.†

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

59,706‌

528‌

Givaudan SA

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

2,266,694‌

U.S. Companies

2,000‌

Rogers Corp.†

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

135,060‌

2,461,460‌

Transportation — 0.5%

U.S. Companies

4,000‌

GATX Corp.

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

621,080‌

TOTAL OTHER

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

34,066,351‌

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

COMMUNICATIONS — 15.9%

Cable and Satellite — 2.6%

Non U.S. Companies

13,000‌

Cogeco Inc.

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

573,461‌

75,000‌

ITV plc

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

76,391‌

50,000‌

Liberty Latin America Ltd., Cl. A†

........

316,500‌

3,632‌

Liberty Latin America Ltd., Cl. C†

........

22,555‌

1,500‌

Naspers Ltd., Cl. N

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

369,621‌

42,000‌

Rogers Communications Inc., Cl. B

.......

1,122,660‌

U.S. Companies

200‌

Charter Communications Inc., Cl. A†

.....

73,706‌

14,500‌

Comcast Corp., Cl. A

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

535,050‌

3,000‌

EchoStar Corp., Cl. A†

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

76,740‌

168‌

Liberty Broadband Corp., Cl. B†

..........

15,010‌

3,181,694‌

Telecommunications — 11.2%

Non U.S. Companies

32,000‌

BCE Inc.

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

734,720‌

103,000‌

BT Group plc, Cl. A

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

220,664‌

25,000‌

Deutsche Telekom AG

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

925,052‌

52,200‌

Deutsche Telekom AG, ADR

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

1,935,054‌

17,500‌

Eurotelesites AG†

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

98,020‌

11,000‌

Itissalat Al-Maghrib

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

89,207‌

445,000‌

Koninklijke KPN NV

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

1,884,776‌

31,000‌

Liberty Global Ltd., Cl. A†

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

356,810‌

75,000‌

Orange Belgium SA†

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

1,232,682‌

5,000‌

Orange SA, ADR

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

64,650‌

27,000‌

Orascom Investment Holding, GDR†(a)

...

378‌

60,000‌

Pharol SGPS SA†

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

3,439‌

17,000‌

Proximus SA

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

125,458‌

The Gabelli Global Utility & Income Trust

Schedule of Investments (Continued) — March 31, 2025 (Unaudited)

Market

Value

COMMON STOCKS (Continued)

COMMUNICATIONS (Continued)

Telecommunications (Continued)

Non U.S. Companies (Continued)

10,000‌

Sunrise Communications AG, Cl. A†

......

$ 482,649‌

1,100‌

Swisscom AG

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

633,492‌

200,000‌

Telecom Italia SpA†

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

67,214‌

17,000‌

Telefonica Brasil SA, ADR

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

148,240‌

230,000‌

Telefonica Deutschland Holding AG

.......

542,661‌

80,000‌

Telefonica SA, ADR

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

372,800‌

70,000‌

Telekom Austria AG

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

653,970‌

46,000‌

Telesat Corp.†

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

866,180‌

5,000‌

TELUS Corp.

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

71,714‌

10,000‌

VEON Ltd., ADR†

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

436,100‌

U.S. Companies

4,000‌

AT&T Inc.

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

113,120‌

1,000‌

Cisco Systems Inc.

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

61,710‌

100‌

Motorola Solutions Inc.

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

43,781‌

10,430‌

Shenandoah Telecommunications Co.

....

131,105‌

15,000‌

Telephone and Data Systems Inc.

........

581,100‌

900‌

T-Mobile US Inc.

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

240,039‌

10,200‌

Verizon Communications Inc.

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

462,672‌

13,579,457‌

Wireless Communications — 2.1%

Non U.S. Companies

3,000‌

America Movil SAB de CV, ADR

..........

42,660‌

5,000‌

Infrastrutture Wireless Italiane SpA

.......

52,930‌

5,400‌

SK Telecom Co. Ltd., ADR

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

114,804‌

28,000‌

Turkcell Iletisim Hizmetleri A/S, ADR

.....

174,160‌

115,000‌

Vodafone Group plc, ADR

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

1,077,550‌

U.S. Companies

6,000‌

Anterix Inc.†

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

219,600‌

13,000‌

United States Cellular Corp.†

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

898,950‌

1,600‌

Vimeo Inc.†

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

8,416‌

2,589,070‌

TOTAL COMMUNICATIONS

...........

19,350,221‌

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

WIRELESS COMMUNICATIONS — 0.8%

Wireless Communications — 0.8%

Non U.S. Companies

32,500‌

Millicom International Cellular SA

........

983,775‌

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

TOTAL COMMON STOCKS

...........

121,330,914‌

CLOSED-END FUNDS

— 0.0%

10,000‌

Altaba Inc., Escrow†

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

15,250‌

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

Market

Value

WARRANTS

— 0.0%

ENERGY AND UTILITIES — 0.0%

Natural Resources — 0.0%

U.S. Companies

1,500‌

Occidental Petroleum Corp., expire

08/03/27†

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

$ 41,505‌

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

OTHER — 0.0%

Diversified Industrial — 0.0%

Non U.S. Companies

1,250‌

SDCL EDGE Acquisition Corp., expire

12/31/28†

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

37‌

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

TOTAL WARRANTS

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

41,542‌

Principal

Amount

U.S. GOVERNMENT OBLIGATIONS

— 0.3%

$ 320,000‌

U.S. Treasury Bills,

4.228% to 4.233%††, 06/12/25 to

06/20/25

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

317,211‌

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

TOTAL INVESTMENTS — 100.0%

(Cost $83,246,212)

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

$ 121,704,917‌

(a) Security is valued using significant unobservable inputs and is classified

as Level 3 in the fair value hierarchy.

† Non-income producing security.

†† Represents annualized yields at dates of purchase.

ADR

American Depositary Receipt

GDR

Global Depositary Receipt

Geographic Diversification

% of Total

Investments

Market

Value

North America

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

55.2‌%

$ 67,158,196‌

Europe

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

36.7‌

44,637,281‌

Japan

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

4.5‌

5,496,965‌

Asia/Pacific

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

2.0‌

2,433,395‌

Latin America

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

1.2‌

1,518,683‌

South Africa

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

0.3‌

369,621‌

Africa/Middle East

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

0.1‌

90,776‌

Total Investments

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

100.0‌%

$ 121,704,917‌