GAMCO Investors, Inc.

GAMCO (NYSE: GBL) is a Delaware-incorporated provider of investment advisory services, primarily to clients in the United States. The company serves open-end funds, closed-end funds, actively managed semi-transparent exchange traded funds (ETFs), a *société d'investissement à capital variable* (SICAV), and approximately 1,400 institutional and private wealth management investors. GAMCO generally manages assets on a fully discretionary basis, investing in U.S. and international securities. Revenues are primarily based on the company's assets under management (AUM) and fees from its investment products. GAMCO's client base includes institutions, intermediaries, offshore investors, private wealth, and direct retail investors. The company offers solutions across Value and Growth Equity, ESG, Convertibles, sector-focused strategies like Gold and Utilities, Merger Arbitrage, and Fixed Income. GAMCO launched its flagship All Cap Value strategy, Gabelli Value, in 1977 and entered the mutual fund business in 1986. As of December 31, 2021, GAMCO had $35.0 billion of AUM. The investment advisory business is conducted principally through two registered investment advisor subsidiaries: Gabelli Funds, LLC (for open-end and closed-end funds) and GAMCO Asset Management Inc. (for Institutional and Private Wealth Management). G.distributors, LLC, a broker-dealer subsidiary, underwrites and distributes the company's open-end funds and actively managed semi-transparent ETFs. GAMCO's AUM are organized into three groups. The Open and Closed-End Funds group provides advisory services to 24 open-end funds and 14 closed-end funds under the Gabelli and GAMCO brands. As of December 31, 2021, these Funds had $20.6 billion of AUM. Additionally, the company provides administrative services to 8 open-end funds with $1.5 billion of AUM as of December 31, 2021, under the TETON Westwood and Keeley brands.