GABELLI ASSET FUND
NSAR-A, 1998-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/98
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001 A000000 THE GABELLI ASSET FUND
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002 A000000 ONE CORPORATE CENTER
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008 B000001 A
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010 A000001 FIRST DATA INVESTOR SERVICES GROUP, INC.
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011 A000001 GABELLI & COMPANY, INC.
011 B000001 8-21373
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013 B010001 NEW YORK
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014 A000002 KEELEY INVESTMENT COPORATION
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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
<FISCAL-YEAR-END>                        DEC-31-1998
<PERIOD-END>                             JUN-30-1998
<INVESTMENTS-AT-COST>                                      857,224,483
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<RECEIVABLES>                                                7,171,209
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<SENIOR-EQUITY>                                                      0
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<ACCUMULATED-NII-CURRENT>                                    1,935,274
<OVERDISTRIBUTION-NII>                                               0
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<OVERDISTRIBUTION-GAINS>                                             0
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<AVG-DEBT-PER-SHARE>                                                 0


</TABLE>


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