GABELLI ASSET FUND
NSAR-A, 1997-08-22
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 783898
000 D000000 N
000 E000000 F
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001 A000000 THE GABELLI ASSET FUND
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002 A000000 ONE CORPORATE CENTER
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011 B000001 8-21373
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012 A000001 BOSTON FINANCIAL DATA SERVICES, INC.
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SIGNATURE   BRUCE N. ALPERT                              
TITLE       PRESIDENT/TREAS     
 


<TABLE> <S> <C>

<ARTICLE>  6
<SERIES>
              <NUMBER>   001
              <NAME>  Gabelli Asset Fund
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<PERIOD-END>                    JUN-30-1997
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<SENIOR-EQUITY>                              0
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<OVERDISTRIBUTION-NII>                       0
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<DIVIDEND-INCOME>                    9,734,455
<INTEREST-INCOME>                      382,364
<OTHER-INCOME>                               0
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<EQUALIZATION>                               0
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<AVG-DEBT-OUTSTANDING>                       0
<AVG-DEBT-PER-SHARE>                         0


</TABLE>


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