Gabelli Gold Fund Class AAA
GOLDX
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- Gabelli Gold Fund, Inc. Class AAA (GOLDX) is an open-end mutual fund that seeks long-term capital appreciation by investing principally in equity securities of foreign and domestic companies engaged in gold-related activities, including gold mining, exploration, and production; the fund normally allocates at least 80% of its net assets to such securities, focusing on high-quality global issuers with strong management, solid financials, long-life mines, and low production costs. It emphasizes strategic gold mining companies across sectors like basic materials, with significant diversification into non-U.S. stocks (approximately 88%), primarily in Canada (61%), Australasia (16%), the United States (11%), the United Kingdom (5%), and Africa (4%); top holdings include Newmont Corporation, Northern Star Resources Ltd., Agnico Eagle Mines Ltd., Kinross Gold Corp., and Wheaton Precious Metals Corp. Gabelli Funds, LLC serves as the investment adviser, with a team led by portfolio manager Caesar Bryan (since inception) and Christopher Mancini (since 2021), leveraging over 45 years of combined expertise in gold mining investments; the fund, domiciled in the United States with headquarters at One Corporate Center, Rye, New York, was launched on July 11, 1994. As of recent data, total net assets stand at approximately $652 million, with Class AAA shares comprising $224 million, a net expense ratio of 1.44%, a minimum initial investment of $1,000, and a 2% maximum redemption fee for shares sold within seven days. In May 2025, Gabelli Funds announced a strategic partnership with Keeley-Teton Advisors, LLC, integrating Keeley's approximately $1 billion in assets under management, including four mutual funds and 500 separately managed accounts, to enhance Gabelli's offerings in value equity and sector-focused strategies such as gold; this alliance aligns with Gabelli's broader expansion into actively managed ETFs and RIA integrations. The fund remains actively managed amid rising gold prices and inflationary pressures, providing portfolio diversification with low correlation to traditional equities and fixed income.