The Gabelli Equity Trust Inc. PFD-G
GAB-PG
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- The Gabelli Equity Trust Inc. (NYSE: GAB and GAB-PG) is a non-diversified, closed-end management investment trust whose primary investment objective is the long-term growth of capital with income as a secondary objective; it invests at least 80% of its total assets in equity securities under normal market conditions, including common stocks, preferred stocks, convertible or exchangeable securities, warrants, and rights to purchase such securities selected by its investment adviser, Gabelli Funds, LLC; the portfolio spans diversified sectors such as financial services, industrials, food and beverage, consumer products, equipment and supplies, consumer services, health care, entertainment, diversified industrial, and business services, with top holdings including Berkshire Hathaway Inc., American Express Co., Deere & Co., Republic Services Inc., Rollins Inc., Curtiss-Wright Corp., O'Reilly Automotive Inc., Texas Instruments Inc., Crane Co., and Costco Wholesale Corp.. The Trust maintains a 10% Distribution Policy, paying out 10% of its average net assets annually to common shareholders on a quarterly basis, which may include return of capital and is not indicative of dividend yield or total return; it employs leverage through multiple series of cumulative preferred shares, including the 5.00% Series G Cumulative Preferred Stock (GAB-PG; $69 million), 5.00% Series H (GAB PrH; $104 million), 5.45% Series J (GAB PrJ; $80 million), 5.00% Series K (GAB PrK; $100 million), and Auction Rate Preferreds (Series C & E; $90 million), alongside common stock equity of approximately $261 million and total net assets exceeding $1.7 billion as of recent reporting.. Founded on August 21, 1986, and headquartered at One Corporate Center, Rye, New York, the Trust operates principally in the public equity markets of the United States and benchmarks performance against the S&P 500 Index, Dow Jones Industrial Average, and Nasdaq Composite Index using a fundamental, bottom-up, value-oriented stock-picking approach led by Mario J. Gabelli, CFA, Chief Investment Officer, supported by over 13 portfolio managers and 33 research analysts.. In recent developments, the Trust's investment adviser affiliates at GAMCO Investors, Inc. and Gabelli Funds, LLC acquired the investment management services business of Keeley-Teton Advisors, LLC in May 2025, adding approximately $1.0 billion in assets under management, including four mutual funds and 500 separately managed accounts, with Keeley's Chicago-based team retained under its brand to expand client services and complementary value strategies; this follows Gabelli's broader growth initiatives, such as launching new actively managed ETFs like the Keeley Dividend ETF (KDVD), Gabelli High Income ETF, and conversion of semi-transparent ETFs to full transparency, including renaming Gabelli Automation ETF (GAST) to Gabelli Global Technology Leaders ETF (GGTL).. The Trust trades at a premium or discount to its net asset value, with a gross expense ratio of 1.6%/1.3% (common/preferred) and low portfolio turnover of approximately 4.7%, serving institutional, intermediary, private wealth, offshore, and retail investors through Gabelli's global platform spanning nine offices..