Summary

• The Gabelli Utility Trust is a diversified, closed-end management investment company whose primary objectives are long-term growth of capital and income.
• In the first quarter of 2026, the S&P 500 Utilities Index gained 8.3%, significantly outperforming the broader market, with the S&P 500 Index declining 4.3% and the NASDAQ falling 7.1%.
• Year-to-date, some of the Fund's top contributors were ONEOK, National Fuel Gas, NextEra Energy and Evergy.
• Portfolio detractors included Constellation Energy, NRG Energy, Mueller Industries, Xylem Inc. and Korea Electric Power.

PORTFOLIO MANAGERS: Mario J. Gabelli, CFA, Justin Bergner, CFA, Timothy M. Winter, CFA, Simon Wong, CFA

Investment Objective

The Gabelli Utility Trust (GUT) is a diversified, closed-end management investment company whose primary objectives are