Recent Annual Report - Gabelli

The Gabelli Value Fund Inc.
Financial Highlights
Selected data for a share of capital stock outstanding throughout each period:
Period Ended
December 31
Net Asset
Value,
Beginning
of Period
Net
Investment
Income
(Loss)(a)
Income (Loss)
from Investment Operations Distributions
Net
Realized
and
Unrealized
Gain (Loss)
on
Investments
Total from
Investment
Operations
Net
Investment
Income
Net
Realized
Gain on
Investments
Return
of
Capital
Total
Distributions
Redemption
Fees (a)(b)
Net Asset
Value,
End of
Period
Total
Return†
Net Assets,
End of Period
(in 000’s)
Ratios to Average Net Assets /
Supplemental Data
Class AAA
2012 $13.87 $ 0.14 $ 2.20 $ 2.34 $(0.14) $(0.86) — $(1.00) $0.00 $15.21 17.0% $ 1,192 0.92% 1.42% 3%
2011 15.58 0.07 (0.08) (0.01) (0.05) (1.65) — (1.70) 0.00 13.87 0.1 634 0.45 1.43 6
2010(c) 14.37 0.00(b) 1.70 1.70 (0.03) (0.46) — (0.49) 0.00 15.58 11.8 275 0.00(d)(e) 1.43(e) 14
Class A
2012 $13.89 $ 0.13 $ 2.21 $ 2.34 $(0.13) $(0.86) — $(0.99) $0.00 $15.24 17.0% $494,048 0.85% 1.42% 3%
2011 15.59 0.05 (0.05) 0.00(b) (0.05) (1.65) — (1.70) 0.00 13.89 0.1 480,414 0.29 1.43 6
2010 12.58 0.01 3.46 3.47 (0.00)(b) (0.46) — (0.46) 0.00 15.59 27.6 607,818 0.05 1.43 14
2009 9.00 0.04 3.69 3.73 (0.04) (0.11) — (0.15) 0.00 12.58 41.4 449,865 0.36 1.52 5
2008 16.78 0.04 (7.47) (7.43) (0.04) (0.03) $(0.28) (0.35) 0.00 9.00 (44.2) 366,568 0.28 1.41 4
Class B
2012 $12.27 $(0.02) $ 1.98 $ 1.96 — $(0.86) — $(0.86) $0.00 $13.37 16.1% $ 152 (0.17)% 2.17% 3%
2011 14.04 (0.08) (0.04) (0.12) — (1.65) — (1.65) 0.00 12.27 (0.7) 640 (0.56) 2.18 6
2010 11.45 (0.09) 3.14 3.05 — (0.46) — (0.46) 0.00 14.04 26.6 1,844 (0.72) 2.18 14
2009 8.24 (0.03) 3.35 3.32 — (0.11) — (0.11) 0.00 11.45 40.3 3,850 (0.38) 2.27 5
2008 15.46 (0.06) (6.85) (6.91) — (0.03) $(0.28) (0.31) 0.00 8.24 (44.6) 4,252 (0.48) 2.16 4
Class C
2012 $12.30 $ 0.02 $ 1.95 $ 1.97 $(0.04) $(0.86) — $(0.90) $0.00 $13.37 16.1% $ 8,914 0.12% 2.17% 3%
2011 14.07 (0.06) (0.06) (0.12) — (1.65) — (1.65) 0.00 12.30 (0.7) 7,789 (0.43) 2.18 6
2010 11.47 (0.09) 3.15 3.06 — (0.46) — (0.46) 0.00 14.07 26.7 7,378 (0.70) 2.18 14
2009 8.25 (0.04) 3.37 3.33 — (0.11) — (0.11) 0.00 11.47 40.4 6,314 (0.39) 2.27 5
2008 15.48 (0.06) (6.86) (6.92) — (0.03) $(0.28) (0.31) 0.00 8.25 (44.6) 5,686 (0.47) 2.16 4
Class I
2012 $13.88 $ 0.19 $ 2.18 $ 2.37 $(0.17) $(0.86) — $(1.03) $0.00 $15.22 17.2% $ 20,926 1.25% 1.17% 3%
2011 15.58 0.09 (0.05) 0.04 (0.09) (1.65) — (1.74) 0.00 13.88 0.4 8,543 0.57 1.18 6
2010 12.56 0.04 3.48 3.52 (0.04) (0.46) — (0.50) 0.00 15.58 28.0 8,035 0.31 1.18 14
2009 8.99 0.06 3.69 3.75 (0.07) (0.11) — (0.18) 0.00 12.56 41.6 4,647 0.59 1.27 5
2008(f) 15.87 0.08 (6.57) (6.49) (0.08) (0.03) $(0.28) (0.39) 0.00 8.99 (40.8) 3,528 0.66(e) 1.16(e) 4
Net
Investment
Income
(Loss)
Operating
Expenses
Portfolio
Turnover
Rate
† Total return represents aggregate total return of a hypothetical $1,000 investment at the beginning of the period and sold at the end of the period including reinvestment of distributions
and does not reflect applicable sales charges. Total return for a period of less than one year is not annualized.
(a) Per share amounts have been calculated using the average shares outstanding method.
(b) Amount represents less than $0.005 per share.
(c) From the commencement of offering Class AAA Shares on April 30, 2010 through December 31, 2010.
(d) Amount represents less than 0.005%.
(e) Annualized.
(f) From the commencement of offering Class I Shares on January 11, 2008 through December 31, 2008.
See accompanying notes to financial statements.
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