<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
APPENDIX I Washington, D.C. 20549
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
Read instructions at end of Form before preparing Form. Please print or type.
- --------------------------------------------------------------------------------
1. Name and address of issuer:
The GABELLI Westwood Funds
One Corporate Center
Rye, NY 10580
- --------------------------------------------------------------------------------
2. The name of each series or class of funds for which this Form is filed (If
the Form is being filed for all series and classes of securities of the issuer,
check the box but do not list series or classes): [ X ]
- --------------------------------------------------------------------------------
3. Investment Company Act File Number: 811-4719
Securities Act File Number: 33-6790
- --------------------------------------------------------------------------------
4(a). Last day of the fiscal year for which this notice is filed:
SEPTEMBER 30, 1997
- --------------------------------------------------------------------------------
4(b). [_] Check box if this Form is being filed late (i.e., more than 90
calendar days after the end of the issuer's fiscal year). (See Instruction
A.2)
Note: If the form is being filed late, Interest must be paid on the registration
fee due.
- --------------------------------------------------------------------------------
4(c). [_] Check box if this is the last time the issuer will be filing this
Form.
- --------------------------------------------------------------------------------
<PAGE>
<TABLE>
<S> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------
5. Calculation of registration fee:
(i) Aggregate sale price of securities sold during the fiscal
year pursuant to section 24(f): $160,548,211
---------------
(ii) Aggregate price of securities redeemed or repurchased
during the fiscal year: $34,634,163
---------------
(iii) Aggregate price of securities redeemed or repurchased
during any prior fiscal year ending no earlier than
October 11, 1995 that were not previously used to reduce
registration fees payable to the Commission. $0
---------------
(iv) Total available redemption credits [Add items 5(ii) and 5(iii)]: - $34,634,163
---------------
(v) Net Sales - If item 5(i) is greater than item 5(iv)
[subtract Item 5(iv) from Item 5(i)] $125,914,048
---------------
------------------------------------------------------------------------------------------------
(vi) Redemption credits available for use in future years - if $0
Item 5(i) is less than Item 5 (iv) [subtract Item 5(iv) from ---------------
Item 5(i)]:
------------------------------------------------------------------------------------------------
(vii) Multiplier for determining registration fee (See Instruction C.9): 0.000295
---------------
(viii) Registration fee due [multiply Item 5(v) by Item 5(vii): = $37,144.64
(enter "0" if no fee is due): ---------------
- ----------------------------------------------------------------------------------------------------------------------
6. Prepaid shares
If the response to item 5(i) was determined by deducting an amount of securities that were
registered under the Securities Act of 1933 pursuant to rule 24e-2 as in effect before [effective
date of recision of rule 24e-2], then report the amount of securities (number of shares or other
units) deducted here: __________. If there is a number of shares or other units that were
registered pursuant to rule 24e-2 remaining unsold at the end of the fiscal year for which this
form is filed that are available for use by the issuer in future fiscal years, then state that number
here: __________.
- ----------------------------------------------------------------------------------------------------------------------
7. Interest due.-- if this Form is being filed more than 90 days after the end of the issuers fiscal year
(see Instruction D):
$0
---------------
- ----------------------------------------------------------------------------------------------------------------------
8. Total of amount of the registration fee due plus any interest due [Line 5(viii) plus line 7].
$37,144.64
===============
- ----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
- --------------------------------------------------------------------------------
9. Date the registration fee and any interest payment was sent to the
Commission's lockbox depository:
December 26, 1997
-----------------
Method of Delivery:
[X] Wire Transfer
[_] Mail or other means
- --------------------------------------------------------------------------------
SIGNATURES
This report has been signed below by the following persons on behalf of
the issuer and in the capacities and on the dates indicated.
By (Signature and Title)* /s/ Frank M. Deutchki
------------------------------------------------
Assistant Treasurer
------------------------------------------------
Date 12/24/97
---------------------
* Please print the name and title of the signing officer below the
signature.
- --------------------------------------------------------------------------------
