As filed with the Securities and Exchange Commission on October 31,
1995
Registration Nos. 33-61254 and 811-7644
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 X
Pre-Effective Amendment No.
Post-Effective Amendment No. 1 X
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 X
Amendment No. 3
GABELLI CAPITAL SERIES FUNDS, INC.
(Exact Name of Registrant as Specified in Charter)
One Corporate Center, Rye, New York 10580-1434
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, including Area Code: 1-800-422-3554
Bruce N. Alpert
One Corporate Center
Rye, New York 10580-1434
(Name and Address of Agent for Service)
Copies to:
James E. McKee, Esq. Daniel Schloendorn, Esq.
Gabelli Capital Series Funds, Inc. Willkie Farr & Gallagher
One Corporate Center One Citicorp Center
Rye, New York 10580-1434 153 East 53rd Street
New York, New York 10022
It is proposed that this filing will become effective:
X immediately upon filing pursuant to paragraph (b)
__ on __________ pursuant to paragraph (b)
__ 60 days after filing pursuant to paragraph (a)(1)
__ on __________ pursuant to paragraph (a)(1)
__ 75 days after filing pursuant to paragraph (a)(2)
__ on __________ pursuant to paragraph (a)(2) of Rule 485
__ This post-effective amendment designates a new effective date for a
previously filed post-effective amendment.
The Registrant has filed previously a declaration of indefinite
registration of its shares pursuant to Rule 24f-2 under the Investment Company
Act of 1940, as amended (the "1940 Act"). Registrant's Rule 24f-2 Notice for
the fiscal period from May 1, 1995 (commencement of operations) through
December 31, 1995 will be filed on or before February 29, 1996.
_______________________________________
GABELLI CAPITAL SERIES FUNDS, INC.
FORM N-1A
CROSS REFERENCE SHEET
PURSUANT TO RULE 495(a)
Part A
Item No. Prospectus Caption
1. Cover Page Cover Page
2. Synopsis Not Applicable
3. Condensed Financial Information Financial Highlights
4. General Description of Registrant Cover Page; Investment Objectives
and Policies; General Information
5. Management of the Fund Management of the Fund; Investment Objectives
and Policies; General Information; Purchase and Redemption of Shares
5A. Management's Discussion of Fund Performance Not applicable
6. Capital Stock and Other Securities Dividends, Distributions and Taxes;
General Information
7. Purchase of Securities Being Offered Purchase and Redemption of
Shares
8. Redemption or Repurchase Purchase and Redemption of Shares
9. Pending Legal Proceedings Not applicable
Part B Statement of Additional
Item No. Information Caption
10. Cover Page Cover Page
11. Table of Contents Table of Contents
12. General Information and History The Manager; the Adviser; Directors
and Officers; see Prospectus -- "General Information"
13. Investment Objectives and Policies Investment Policies; Special
Investment Methods; Investment Objectives
14. Management of the Fund Directors and Officers; The Manager; The
Adviser; see Prospectus -- "Management of the Fund"
Part B (continued) Statement of Additional
Item No. Information Caption
15. Control Persons and Principal Holders of Securities Directors and
Officers; The Manager; The Adviser; see Prospectus -- "Purchase and Redemption
of Shares"; "General Information"
16. Investment Advisory and Other Services The Manager; The Adviser; The
Distributor; see Prospectus -- "Custodian, Transfer Agent and Dividend
Disbursing Agent"; "Management of the Fund"
17. Brokerage Allocation and Other Practices Portfolio Transactions and
Brokerage
18. Capital Stock and Other Securities Dividends, Distributions and Taxes;
General Information; see Prospectus -- "Dividends, Distributions and Taxes";
"General Information"
19. Purchase, Redemption and Pricing Purchase and Redemption of Shares,
of Securities Being Offered Determination of Net Asset Value
20. Tax Status Dividends, Distributions and Taxes; see Prospectus --
"Dividends, Distribution and Taxes"
21. Underwriters The Distributor; see Prospectus -- "Purchase and
Redemption of Shares"; "Management of the Fund"
22. Calculation of Performance Data Investment Performance Information
23. Financial Statements Financial Statements
PART C
The information required to be included in Part C is set forth under the
appropriate item, so numbered, in Part C to this Post-Effective Amendment.
GABELLI CAPITAL SERIES FUND, INC.
Gabelli Capital Asset Fund
The Prospectus, dated May 1, 1995 and the Statement of Additional Information,
also dated May 1, 1995, are incorporated into Part A and Part B, respectively,
by reference to the Registrant's filing of a definitive copy under Rule 497(c)
under the Securities Act of 1933, as amended (Accession No. 0000899140-95-
000072).
GABELLI CAPITAL SERIES FUNDS, INC.
_______________
PART A
GABELLI CAPITAL SERIES FUNDS, INC.
Gabelli Capital Asset Fund
Supplement dated October 31, 1995 to
Prospectus dated May 1, 1995
The table of "Financial Highlights" below supplements information
contained in the Prospectus, dated May 1, 1995, and sets forth certain
financial information regarding the operations of Gabelli Capital Asset Fund
for the period from May 1, 1995 (commencement of operations) through
June 30, 1995.
FINANCIAL HIGHLIGHTS
Per share amounts for a Fund share outstanding throughout the period.
Period
Ended
6/30/95*
(Unaudited)
-----------
Operating performance:
Net asset value, beginning of period $10.00
------
Net investment income (a) 0.02
Net realized and unrealized gain on investments 0.18
------
Total from investment operations 0.20
------
Net asset value, end of period $10.20
------
Total return** 2.0%
------
Ratios to average net assets/supplemental data:
Net assets, end of period (in 000's) $6,925
Ratio of net investment income to average
net assets 3.00%+
Ratio of operating expenses to average
net assets (b) 1.14%+
Portfolio turnover rate 0.0%
- ----------
* The Fund commenced operations on May 1, 1995.
** 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. Total return for the period less than one year is not annualized.
+ Annualized.
(a) Net investment loss before expenses assumed by Manager for the period
ended
June 30, 1995 was $(0.02).
(b) Operating expense ratio before expenses assumed by Manager for the
period
ended June 30, 1995 was 4.89%.
See notes to financial statements.
GABELLI CAPITAL SERIES FUNDS, INC.
______________
PART B
GABELLI CAPITAL SERIES FUNDS, INC.
Gabelli Capital Asset Fund
Supplement dated October 31, 1995 to
Statement of Additional Information dated May 1, 1995
The following unaudited financial statements supplement the Statement of
Information, dated May 1, 1995.
<PAGE>
Gabelli Capital Asset Fund -- 5
- ------------------------------------------------------------------------------
- --
Gabelli Capital Asset Fund
SCHEDULE OF INVESTMENTS
June 30, 1995 (Unaudited)
COMMON STOCKS -- 46.2%
Shares Value
- ------------------------------------------------------------------------------
- --
Aerospace -- 0.9%
1,000 Boeing Co. $ 62,625
---------
Automotive: Parts and Accessories -- 0.6%
2,000 GenCorp Inc. 21,500
1,000 Wynn's International, Inc. 23,250
---------
44,750
---------
Aviation: Parts and Services -- 1.7%
800 Curtiss-Wright Corporation 35,700
6,000 Hi-Shear Industries Inc. 44,250
1,000 Precision Castparts Corporation 35,125
---------
115,075
---------
Broadcasting -- 6.1%
7,000 Ackerley Communications Inc. 85,750
1,500 BHC Communications, Inc., Class A+ 120,563
1,000 Chris-Craft Industries, Inc. 35,000
2,000 Multi-Market Radio Inc., Class A+ 20,000
500 Outlet Communications, Inc., Class A+ 18,750
2,000 United Television, Inc. 142,000
---------
422,063
---------
Business Services -- 8.2%
2,000 LEGENT Corporation+ 87,500
7,500 Lotus Development Corporation+ 478,125
---------
565,625
---------
Cable -- 2.3%
3,500 Media General, Inc., Class A 106,750
1,000 Multimedia, Inc., New+ 38,750
500 Tele-Communications, Inc., Class A+ 11,719
---------
157,219
---------
Consumer Products -- 6.5%
5,000 American Brands, Inc. 198,750
2,000 Culbro Corporation+ 66,000
2,500 General Electric Company 140,937
1,000 National Presto Industries Inc. 45,375
---------
451,062
---------
Diversified Industrial -- 1.3%
1,000 Minnesota Mining and
Manufacturing Company 57,250
2,000 Thomas Industries Inc. 32,750
---------
90,000
---------
Electric Equipment -- 1.6%
2,500 Honeywell Inc. 107,813
---------
Entertainment -- 2.5%
3,000 Time Warner Inc. 123,375
1,000 Viacom Inc., Class A+ 46,500
---------
169,875
---------
Food and Beverage -- 3.2%
6,400 Bruno's, Inc. 74,400
2,000 Seagram Company Ltd. 69,250
500 Tootsie Roll Industries, Inc. 34,625
1,000 Wrigley, (Wm.) Jr. Company 46,375
---------
224,650
---------
Health Care -- 1.1%
1,500 Genentech Inc.+ 72,937
---------
Hotels/Casinos -- 2.0%
2,000 Hilton Hotels Corporation 140,500
---------
Industrial Equipment and Supplies -- 2.2%
3,000 AMETEK, Inc. 54,000
2,000 Crane Co. 72,500
1,000 Sequa Corporation, Class A+ 29,250
---------
155,750
---------
Oil and Gas Equipment/Services -- 0.3%
2,600 RPC Inc.+ 23,563
---------
Publishing -- 2.9%
4,500 Pulitzer Publishing 191,812
1,000 Western Publishing Group, Inc.* 11,250
---------
203,062
---------
Wireless Communications -- 2.8%
1,500 Cellular Communications, Inc., Class A+ 68,250
1,000 LIN Broadcasting Corporation 126,500
---------
194,750
---------
TOTAL COMMON STOCKS
(Cost $3,145,658) 3,201,319
---------
See notes to financial statements.
- ------------------------------------------------------------------------------
- --
<PAGE>
Gabelli Capital Asset Fund --
5
- ------------------------------------------------------------------------------
- --
PREFERRED STOCK -- 0.5%
Shares Value
- ------------------------------------------------------------------------------
- --
Industrial Equipment and Supplies -- 0.5%
500 Sequa Corporation, $5.00 Conv. Pfd. $ 33,500
----------
TOTAL PREFERRED STOCK
(Cost $32,400) 33,500
----------
U.S. TREASURY BILLS -- 46.9%
Principal
Amount Value
- ------------------------------------------------------------------------------
- --
$3,260,000 5.000% to 5.420%++ due
07/06/1995-08/24/1995 3,245,058
----------
TOTAL U.S. TREASURY BILLS
(Cost$3,245,058) 3,245,058
----------
TOTAL INVESTMENTS -- 93.6%
(Cost $6,423,116) (a) 6,479,877
----------
OTHER ASSETS AND
LIABILITIES (Net) -- 6.4% 445,152
----------
NET ASSETS -- 100.0% $6,925,029
==========
(a) Aggregate cost for Federal tax purposes was $6,423,116. Net
unrealized
appreciation for Federal tax purposes was $56,761 (gross
unrealized
appreciation was $83,060 and gross unrealized depreciation was $26,299).
+ Non-income producing security.
++ Represents annualized yield at date of purchase.
See notes to financial statements.
- ------------------------------------------------------------------------------
- --
<PAGE>
Gabelli Capital Asset Fund -- 5
- ------------------------------------------------------------------------------
- --
Gabelli Capital Asset Fund
STATEMENT OF ASSETS
AND LIABILITIES
June 30, 1995 (Unaudited)
ASSETS
Investments, at value
(Cost $6,423,116) $6,479,877
Cash 391,270
Receivable for Fund shares sold 456,355
Unamortized organization cost 96,667
Receivable from Manager 14,377
Dividends receivable 1,637
----------
TOTAL ASSETS 7,440,183
----------
LIABILITIES
Payable for investments purchased 400,452
Organization costs payable 100,000
Management fee payable 3,102
Accrued Directors' fees 2,600
Accrued expenses and other payables 9,000
----------
TOTAL LIABILITIES 515,154
----------
Net assets applicable to 678,644 shares of
common stock outstanding $6,925,029
==========
NET ASSETS consist of:
Shares of common stock at par value $ 679
Additional paid-in capital 6,856,338
Accumulated net realized loss on investments (285)
Undistributed net investment income 11,536
Net unrealized appreciation of investments 56,761
----------
TOTAL NET ASSETS $6,925,029
==========
Net Asset Value, offering and redemption
price per share ($6,925,029 / 678,644
shares outstanding; 500,000,000 shares
authorized of $0.001 par value) $ 10.20
==========
STATEMENT OF OPERATIONS
For the Period Ended June 30, 1995 (Unaudited)*
Investment Income:
Interest income $ 14,298
Dividend income 1,638
----------
Total Investment Income 15,936
----------
Expenses:
Management fee 3,844
Amortization of organization costs 3,333
Legal and audit fees 3,200
Directors' fees 2,600
Registration and filing fees 2,500
Transfer agent fees 1,800
Custodian fees 1,500
Expenses assumed by manager (14,377)
----------
Total Expenses 4,400
----------
Net Investment Income 11,536
----------
Net Realized and Unrealized Gain/(Loss) on
Investments:
Net realized loss on investments sold (285)
Net unrealized appreciation of investments
during the period 56,761
----------
Net realized and unrealized gain on investments 56,476
----------
Net increase in net assets resulting from
operations $ 68,012
==========
- ----------
*The Fund commenced operations on May 1, 1995.
See notes to financial statements.
- ------------------------------------------------------------------------------
- --
<PAGE>
Gabelli Capital Asset Fund --
5
- ------------------------------------------------------------------------------
- --
STATEMENT OF CHANGES IN NET ASSETS
Period
Ended
6/30/95*
(Unaudited)
-----------
Net investment income $ 11,536
Net realized loss on investments (285)
Net unrealized appreciation of investments 56,761
-----------
Net increase in net assets resulting from operations 68,012
Net increase in net assets from Fund share
transactions 6,757,017
-----------
Net increase in Net Assets 6,825,029
NET ASSETS:
Beginning of period 100,000
-----------
End of period (including undistributed net
investment income of $11,536) $ 6,925,029
===========
- ----------
*The Fund commenced operations on May 1, 1995.
<PAGE>
Gabelli Capital Asset Fund -- 5
- ------------------------------------------------------------------------------
- --
Gabelli Capital Asset Fund
NOTES TO FINANCIAL STATEMENTS
June 30, 1995 (Unaudited)
1. -- Significant Accounting Policies
Gabelli Capital Asset Fund (the "Fund"), a series of The Gabelli
Capital
Series Funds, Inc., (the "Company"), was organized on April 8, 1993 as
a
Maryland corporation. The Fund is a diversified, open-end management
investment
company registered under the Investment Company Act of 1940, as amended
(the
"1940 Act"). Shares of the Fund are available to the public only through
the
purchase of certain variable annuity and variable life insurance
contracts
issued by The Guardian Insurance & Annuity Company, Inc. The Fund
commenced
operations on May 1, 1995. The following is a summary of significant
accounting
policies followed by the Fund in the preparation of its financial statements.
Security Valuation.
Portfolio securities which are traded only on a nationally
recognized
securities exchange or in the over-the-counter market, which are National
Market
System Securities, are valued at the last sale price as of the close of
business
on the day the securities are being valued or, lacking any sales, at the
mean
between closing bid and asked prices. Portfolio securities which are traded
both
in the over-the-counter market and on a stock exchange are valued according
to
the broadest and most representative market, as determined by Gabelli
Funds,
Inc. (the "Adviser"). Securities and assets for which market quotations are
not
readily available are valued at fair value, as determined in good faith by
or
under the direction of the Board of Directors of the Company. Short-
term
investments that mature in more than 60 days are valued at the highest bid
price
obtained from a dealer maintaining an active market in that security. Short-
term
investments that mature in 60 days or less are valued at amortized cost,
unless
the Board of Directors determines that such valuation does not constitute
fair
value.
Securities Transactions and Investment Income.
Securities transactions are accounted for on the trade date with
realized
gain or loss on investments determined using specific identification as the
cost
method. Interest income (including amortization of premium and discount)
is
recorded as earned.
Dividends and Distributions to Shareholders.
Dividend income and dividends and distributions to shareholders are
recorded
on the ex-dividend date. Income distributions and capital gain distributions
are
determined in accordance with income tax regulations which may differ
from
generally accepted accounting principles.
Provision for Income Taxes.
The Fund intends to qualify as a regulated investment company
under
Subchapter M of the Internal Revenue Code of 1986, as amended. As a result,
a
Federal income tax provision is not required.
Deferred Organization Expenses.
A total of $100,000 was incurred in connection with the organization of
the
Fund. These costs were deferred and are being amortized on a straight-line
basis
over a period of 60 months from the date the Fund commenced
investment
operations.
- ------------------------------------------------------------------------------
- --
<PAGE>
Gabelli Capital Asset Fund -- 5
- ------------------------------------------------------------------------------
- --
2. -- Agreements with Affiliated Parties
Pursuant to a management agreement (the "Management Agreement"),
Guardian
Investor Services Corporation (the "Manager") serves as the Fund's Manager.
The
Management Agreement provides that the Fund will pay the Manager a fee,
computed
daily and paid monthly, at the annual rate of 1.00 percent of the value of
the
Fund's average daily net assets. Pursuant to an Investment Advisory
Agreement
among the Fund, the Manager and the Adviser, the Adviser, under the
supervision
of the Company's Board of Directors and the Manager, manages the Fund's
assets
in accordance with the Fund's investment objectives and policies,
makes
investment decisions for the Fund, places purchase and sale orders on behalf
of
the Fund, provides investment research and provides facilities and
personnel
required for the Fund's administrative needs. The Adviser may delegate
its
administrative role and currently has done so to the Sub-Administrator.
The
Adviser will supervise the performance of administrative and
professional
services provided by others and pays the compensation of the Sub-
Administrator
and all officers and directors of the Fund who are its affiliates.
As
compensation for its services and the related expenses borne by the Adviser,
the
Manager pays the Adviser a fee, computed daily and paid monthly, at the
annual
rate of 0.75 percent of the value of the Fund's average daily net assets.
The
Manager has agreed to assume certain expenses of the Fund if such
expenses
exceed a certain annual expense limitation. For the period ended June 30,
1995,
such expenses totaled $14,377.
3. -- Portfolio Securities
Cost of purchases of investment securities, excluding short-term
investments,
aggregated $3,178,058 for the period ended June 30, 1995. For the same
period
ended June 30, 1995, there were no sales of long-term investment securities.
4. -- Transactions with Affiliates
During the period ended June 30, 1995, the Fund paid brokerage commissions
of
$275 to Gabelli & Company, Inc. and its affiliates.
5. -- Shares of Common Stock
Common stock transactions were as follows:
Period Ended
6/30/95*
---------------------------------
Shares Amount
----------- -----------
Sold 672,163 $ 6,792,327
Redeemed (3,519) (35,310)
----------- -----------
Net increase 668,644 $ 6,757,017
=========== ===========
* The Fund commenced operations on May 1, 1995.
GABELLI CAPITAL SERIES FUNDS, INC.
_______________
PART C
GABELLI CAPITAL SERIES FUNDS, INC.
PART C
OTHER INFORMATION
Item 24. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements:
Included in Part A:
Unaudited Financial Highlights for Gabelli Capital Asset Fund for the period
from May 1, 1995 (commencement of operations) to June 30, 1995 are filed
herein.
Included in Part B:
The following unaudited Financial Statements for Gabelli Capital Asset Fund
for the period from May 1, 1995 (commencement of operations) to June 30, 1995
are filed herein:
Schedule of Investments
Statement of Changes in Net Assets
Statement of Assets and Liabilities
Statement of Operations
Notes to Financial Statements
(b) Exhibits
Exhibit No. Description of Exhibit
(1) Articles of Amendment and Restatement dated April 21, 1995 are
incorporated by reference to Pre-Effective Amendment No. 2 as filed with the
SEC on April 28, 1995 (Accession No. 0000899140-95-000063 ("Pre-Effective
Amendment No. 2").
(2) Amended and Restated By-Laws dated April 21, 1995 are incorporated by
reference to Pre-Effective Amendment No. 2.
(3) Not applicable.
(4) Specimen copy of certificates for shares of Gabelli Capital Asset
Fund is incorporated by reference to Pre-Effective Amendment No. 2.
(5)(a) Form of Management Agreement with Guardian Investor Services
Corporation is incorporated by reference to Pre-Effective Amendment No. 2.
(5)(b) Form of Investment Advisory Agreement with Gabelli Funds, Inc.
is incorporated by reference to Pre-Effective Amendment No. 2.
(6) Form of Distribution Agreement with Gabelli & Company, Inc. is
incorporated by reference to Pre-Effective Amendment No. 2.
(7) Not applicable.
(8) Form of Custodian Contract with State Street Bank and Trust Company
is incorporated by reference to Pre-Effective Amendment No. 2.
(9)(a) Form of Transfer Agency and Service Agreement with State Street
Bank and Trust Company is incorporated by reference to Pre-Effective
Amendment
No. 2 .
(9)(b) Form of Participation Agreement among the Registrant, Gabelli
Funds, Inc., Gabelli & Company, Inc., The Guardian Insurance & Annuity
Company, Inc. and Guardian Investor Services Corporation is incorporated by
reference to Pre-Effective Amendment No. 2.
(10) Not applicable.
(11)(a) Not Applicable
(11)(b) Power of Attorney is incorporated by reference to Pre-Effective
Amendment No. 2.
(12) Not applicable.
(13) Purchase Agreement dated April 26, 1995 with The Guardian Insurance &
Annuity Company, Inc. is incorporated by reference to Pre-Effective Amendment
No. 2.
(14) Not applicable.
(15) Not applicable.
(16) Not applicable.
(27) Financial Data Schedule is filed herein.
Item 25. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH
REGISTRANT
None
Item 26. NUMBER OF HOLDERS OF SECURITIES
Gabelli Capital Asset Fund
(1) (2)
Number of Record Holders as of
Title of Class August 15, 1995
Common Stock
par value $.001 per share 7
Item 27. INDEMNIFICATION
The response to this Item 27 is incorporated by reference to
Pre-Effective Amendment No. 2.
Item 28. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER
Guardian Investor Services Corporation is the manager of the
Registrant (the "Manager"). The list required by this Item 28 of directors,
officers or partners of the Manager, together with information as to any other
business, profession, vocation or employment of a substantial nature engaged
in by the Manager or such directors, officers or partners during the past two
fiscal years, is incorporated by reference to Form ADV filed by the Manager
under the Investment Advisers Act of 1940. (SEC File No. 801-9654 )
Gabelli Funds, Inc. is the investment adviser of the Registrant
(the "Adviser"). The list required by this Item 28 of directors, officers or
partners of the Adviser, together with information as to any other business,
profession, vocation or employment of a substantial nature engaged in by the
Adviser or such directors, officers or partners during the past two fiscal
years, is incorporated by reference to Form ADV filed by the Adviser under the
Investment Advisers Act of 1940. (SEC File No. 801-37706)
Item 29. PRINCIPAL UNDERWRITERS
(a) Gabelli & Company, Inc. is the Registrant's principal
underwriter.
(b) The list required by this Item 29 with respect to each
director, officer or partner of Gabelli & Company, Inc., is incorporated by
reference to Form BD filed by Gabelli & Company, Inc. under the Securities
Exchange Act of 1934, as amended.
(c) Inapplicable
Item 30. LOCATION OF ACCOUNTS AND RECORDS
All such accounts, books and other documents required by Section
31(a) of the 1940 Act and Rules 31a-1 through 31a-3 thereunder are maintained
at the offices of: Gabelli Funds, Inc.,. One Corporate Center, Rye, New York
10580-1434; State Street Bank and Trust Company, 1776 Heritage Drive, North
Quincy, Massachusetts 02171; and The Shareholder Services Group, Inc., One
Exchange Place, Boston, Massachusetts 02109.
Item 31. MANAGEMENT SERVICES
Not applicable
Item 32. UNDERTAKINGS
(a) Not applicable
(b) Not applicable
(c) Not applicable
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment
Company Act of 1940, as amended, the Registrant, GABELLI CAPITAL SERIES FUNDS,
INC., certifies that it meets the requirements for effectiveness of this Post-
Effective Amendment to its Registration Statement pursuant to Rule 485(b)
under the Securities Act of 1933, and the Registrant has duly caused this
Post-Effective Amendment to its Registration Statement to be signed on its
behalf by the undersigned, thereto duly authorized, in the City of New York
and State of New York, on the 31st day of October, 1995.
GABELLI CAPITAL SERIES FUNDS, INC.
By: Mario J. Gabelli*
Mario J. Gabelli
Chairman of the Board of Directors
Pursuant to the requirements of the Securities Act of 1933, as amended, this
Post-Effective Amendment to its Registration Statement has been signed below
by the following persons in the capacities and on the dates indicated.
Signature Title Date
Mario J. Gabelli* Chairman of the Board of Directors, October 31, 1995
Mario J. Gabelli President and Chief Investment Officer
/s/ Bruce N. Alpert Vice President and Treasurer October 31, 1995
Bruce N. Alpert (Principal Financial and Accounting Officer)
Anthony J. Colavita* Director October 31, 1995
Anthony J. Colavita
Arthur V. Ferrara* Director October 31, 1995
Arthur V. Ferrara
/s/ Karl Otto Pohl Director October 31, 1995
Karl Otto Pohl
Anthony R. Pustorino* Director October 31, 1995
Anthony R. Pustorino
Werner J. Roeder* Director October 31, 1995
Werner J. Roeder
Anthonie C. van Ekris* Director October 31, 1995
Anthonie C. van Ekris
*By: /s/ Bruce N. Alpert
Bruce N. Alpert
Attorney-in-fact
EXHIBITS INDEX
EXHIBIT NO. DESCRIPTION OF EXHIBIT
(27) Financial Data Schedule
EXHIBIT (27)
G:\SHARED\3RDPARTY\GABCAPAS\PEA\PEANO1.DOC
G:\SHARED\3RDPARTY\GABCAPAS\PEA\PEANO1.DOC
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 0
<NAME> GABELLI CAPITAL ASSET FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 6,423,116
<INVESTMENTS-AT-VALUE> 6,479,877
<RECEIVABLES> 472,369
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 487,937
<TOTAL-ASSETS> 7,440,183
<PAYABLE-FOR-SECURITIES> 400,452
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 114,702
<TOTAL-LIABILITIES> 515,154
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,857,017
<SHARES-COMMON-STOCK> 678,644
<SHARES-COMMON-PRIOR> 10,000
<ACCUMULATED-NII-CURRENT> 11,536
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (285)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 56,761
<NET-ASSETS> 6,925,029
<DIVIDEND-INCOME> 1,638
<INTEREST-INCOME> 14,298
<OTHER-INCOME> 0
<EXPENSES-NET> 4,400
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</TABLE>
