New details emerged last week on the previously announced minority stake sale for the New York Islanders. The buyer is acquiring 15% of the franchise at a $3 billion valuation, roughly 13 to 14 times revenue, against the published marks that had previously carried the team at $2.0 to $2.1 billion. What it may mean for Gabelli Opportunities in Live & Sports ETF ($GOLS) holdings: ▪️ Rangers: Held through Madison Square Garden Sports (NYSE: $MSGS). Applying the Islanders multiple (13-14X) to the $341 million of Rangers revenue disclosed in MSGS' Form 10 implies a value in the ballpark of $4.4 – $4.8 billion. (Gabelli estimate as of 09/29/2026.) ▪️ Toronto Maple Leafs: Held through Rogers Communications (NYSE: $RCI), which owns 75% of Maple Leaf Sports & Entertainment today, with full ownership expected in early Q4 2026. Rogers has also announced plans to sell a minority stake in its combined sports and media portfolio, which includes MLSE, the Toronto Blue Jays, Rogers Centre and Sportsnet. Learn more about GOLS: m.gabelli.com/GOLS_HockeyDea…

Gabelli is proud to be a Diamond Sponsor again at this year’s Schwab IMPACT®. Our team will be located at booth #119, eager to answer your questions, engage in meaningful conversation, and provide insights into where we are finding investment opportunities today. We also welcome you to join us at our Education Session, “Beyond AI: A-to-Z Investing in A Monothematic World,” on Wednesday, October 28th at 3:00pm. #SchwabIMPACT

This past week, the UN General Assembly and Climate Week took place in NYC. To further the conversation around environmental clean-up and chemical mitigation, we hosted our 4th Annual PFAS Symposium yesterday. Leading companies and experts within the space came together to highlight important treatment technologies being deployed at scale, including activated carbon, anion exchange, and membrane filtration. Curious to know how are analysts are approaching this investable universe? Read our “PFAS ‘Forever Chemicals’ 2026 Update: m.gabelli.com/PFAS2026Whitep…

Aerospace & Defense is entering a new demand cycle. LtCol Tony Bancroft, USMCR (Ret.), our GCAD Portfolio Manager and previously an F/A-18 fighter pilot, breaks down the 5 main reasons investors should pay attention. Get the guide today at: m.gabelli.com/5ReasonstoInve…

On Wednesday, September 16th, the Fed hiked interest rates for the first time since 2023. We asked Ron Eaker, Portfolio Manager of the Gabelli U.S. Treasury Money Market Fund, to weigh in: “A 25bp rate hike by the Fed was widely expected and delivered. Chair Warsh pointed to a strengthening economy and stable labor markets, allowing them to focus on inflation, which they are committed to bringing down to 2% and which should lead to more increases in short-term rates yet to come. So far, the markets seem to find the Fed's efforts credible as the yield curve has flattened with the 10-year back under 5%.” Learn more about the Gabelli U.S. Treasury Money Market Fund: m.gabelli.com/GabelliTreasur…

Join us on Thursday, September 24, 2026, for our 4th Annual PFAS Symposium. Why focus on PFAS? ▪️ PFAS are synthetic chemicals used to make products resistant to heat, water, grease, and stains. ▪️ The carbon-fluorine bond within PFAS makes them difficult to break down, a persistence that has raised growing concerns due to impacts on human health and the environment. ▪️ The symposium will host companies and policymakers focused on PFAS replacements, water and soil treatment, testing and detection, and a widening set of remediation technologies to mitigate PFAS risk. To learn more or register now, please visit: m.gabelli.com/PFAS2026_Socia…

In his latest report, Alec Boccanfuso, Portfolio Manager of the Gabelli Opportunities in Live & Sports ETF ($GOLS), explores three differentiated examples of sports & entertainment ownership: ▪️ Cannae Holdings (CNNE): A sports capital allocator, owns Black Knight Football and has recently expanded into rugby. ▪️ DeNA (Tokyo - 2432): A robust regional sports ecosystem spanning professional baseball, basketball, and soccer alongside venues and sports-led urban development. ▪️ Parken (Copenhagen - PARKEN): An asset-backed sports & leisure model, combining F.C. Copenhagen and its stadium with a broader portfolio of leisure and physical assets. While each model is distinct, all three demonstrate how public companies can use sports as more than a standalone franchise investment, creating broader platforms with multiple avenues for value creation. Read the full breakdown at: m.gabelli.com/AltModels_Spor…

In the past few years, the Aerospace & Defense sector has experienced surging global defense budgets, persistent commercial aviation demand and modernization, and resilient aftermarket economics. Given the momentum, our team is hosting two A&D events this September: ▪️ Wednesday, September 9: Defending Our Nation: A Leadership Forum, featuring panel discussions on the changing defense landscape across space, drones, and AI/Cyber. In-Person Only in NYC. ▪️ Thursday, September 10: 32nd Annual Aerospace & Defense Symposium, hosting a curated group of industry leaders for fireside chats and presentations. In-Person in NYC and Virtual attendance permitted. For more information on timing and how to attend, please visit our registration page: m.gabelli.com/ADEvents_Socia…

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Missed the live webinar of Small Cap Opportunities in 2026? The replay is out now: m.gabelli.com/SmallCapOppRep…

Chris Mancini, Portfolio Manager of the Gabelli Gold Fund (GLDIX), shares a few comments on the recent gold price spike: “Gold is reacting in the short term to expectations of a rate hike by the Fed. If the Fed hikes rates , the opportunity to hold gold, which has no yield, will rise. As oil prices rise (or fall), the probability of higher inflation and higher rates also rises (or falls). If the Strait of Hormuz opens shortly and the price of oil declines, I expect gold to go back up. If the price of oil declines in short order such that inflation cools, and interest rate hikes are less likely, I believe gold goes back to its recent high above $5,000 per ounce.”

Chris Marangi, President & Co-CIO of Value, joined CNBC and talked general market dynamics, highlighting the 3 T’s Gabelli is watching: Trump, Tech, and Treasuries. On the topic of AI and tech, Marangi notes that he “would argue that sports is a beneficiary of AI” as consumers are seeking “togetherness” more than ever in the form of live entertainment and sporting events. Watch the segment at: m.gabelli.com/ChrisMarangi_C… $GOLS

Kevin Dreyer, Co-CIO of Value, utilized his time on the Morningstar stage to focus on something uniquely Gabelli: our Private Market Value with a Catalyst ™ approach. His presentation, “Finding Catalyst-Driven Opportunities with Cyclical and Secular Tailwinds,” discusses key sectors that he believes will benefit from meaningful tailwinds and potential catalysts that may surface value in the near and long term. Watch now at: m.gabelli.com/KevinDreyerMIC…

Tony Bancroft, Portfolio Manager of the Gabelli Commercial Aerospace & Defense ETF (GCAD), is currently on the ground at the Farnborough International Airshow, connecting directly with companies in the GCAD portfolio. The major takeaways so far? ▪️ Aftermarket remains exceptionally strong across the industry. ▪️ Defense is the largest growth area, with missiles as the highest priority investment. ▪️ Commercial aerospace demand remains healthy. Execution and supply chain are the primary constraints, not demand.

AI usage has ramped up. Investors are increasingly focused on understanding the durable value of AI and how they can participate in the expanding universe. Our recent Morningstar presentation, “From Promise to Proof: AI Enters Its Commercial Era,” helped to answer just that. Managing Director of Growth Equities, John Belton, CFA, presented his research on the financial returns of AI capital expenditure and his outlook going forward. m.gabelli.com/MIC26_JohnBelt…

Weekly Dividend Growers is a newsletter segment in which Portfolio Manager Brian Leonard, CFA, presents his latest research on which companies across the dividend universe have announced dividend increases and explains the pace of dividend growth activity. In last week’s edition, recapping Week #26 (June 29- July 3), Brian noted a noticeable slowdown in companies increasing their dividends due to the holiday-shortened week (Fourth of July), with just 4 companies reporting dividend increases, and 1 of them raising its dividend by a double-digit percentage. The average dividend increase was 6% during this period. Want the weekly insights? Join the newsletter at: gabelli.com/contact/weekly-d…

Tony Bancroft, Portfolio Manager of the Gabelli Commercial Aerospace & Defense ETF ($GCAD ), joined CNBC's Morning Call today to share insight on what investors should be watching amid ongoing geopolitical tension. A few key takeaways: 🔹 Oil prices are likely to remain a factor for the foreseeable future. 🔹 Approaching midterms may influence upcoming defense spending decisions. 🔹 The greenlit Patriot production in Ukraine is a positive signal for suppliers. Watch the segment: m.gabelli.com/CNBC_TonyBancr…

Small caps are back in focus, and the second half of 2026 could be pivotal. Join Joseph Gabelli, Portfolio Manager of the Keeley Small Cap Fund, for a live look at the themes driving top-decile results: semiconductor-cycle winners, aerospace and defense tailwinds, and a resurgent M&A market during our “Small Cap Opportunities in 2026” webinar on Thursday, July 16th, 11 am ET: m.gabelli.com/SmallCapOppWeb… Real portfolio case studies. Real holdings. Real opportunities.

Our 18th Annual Sports & Media Symposium in June brought together leaders from the Atlanta Braves, Manchester United, Ryman Hospitality Properties, and more for a series of presentations and fireside chats on the industry dynamics and trends shaping the sports and media landscape, insights that directly inform how our Portfolio Managers and Research Analysts approach this sector. To request a copy of our full Reflections Report with company-specific commentary and key takeaways, comment "Gabelli Reflections" below.