The Gabelli Utility Trust Series C Pfd 2024年度报告

FORMN-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTEREDMANAGEMENT INVESTMENT COMPANIES Investment Company Act file number811-09243 Date of fiscal year end:December 31 Date of reporting period:December 31, 2024 Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission tostockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is notrequired to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management andBudget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions forreducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090. The OMB has reviewed thiscollection of information under the clearance requirements of 44 U.S.C. § 3507. Item 1. Reports to Stockholders. Include a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1). The Report to Shareholders is attached herewith. The Gabelli Utility TrustAnnual Report — December31, 2024 (Y)our Portfolio Management Team Simon T. Wong, CFAPortfolio ManagerBA, University of California,Los AngelesMBA, Columbia BusinessSchool Timothy M. Winter, CFAPortfolio ManagerBA, Rollins CollegeMBA, University of NotreDame Justin Bergner, CFAPortfolio ManagerBA, Yale UniversityMBA, Wharton School,University of Pennsylvania Mario J. Gabelli, CFAChief Investment Officer To Our Shareholders, For the year ended December31, 2024, the net asset value (NAV) total return of The Gabelli Utility Trust (the Fund) was 18.4%,compared with a total return of 23.4% for the Standard & Poor’s (S&P) 500 Utilities Index. The total return for the Fund’s publicly tradedshares was 7.1%. The Fund’s NAV per share was $3.09, while the price of the publicly traded shares closed at $5.03 on the New York StockExchange (NYSE). See page 3 for additional performance information. Enclosed are the financial statements, including the schedule of investments, as of December31, 2024. Investment Objective (Unaudited) The Fund’s primary investment objective is long term growth of capital and income. The Fund will invest at least 80% of its net assets(plus borrowings made for investment purposes), under normal market conditions, in common stocks and other securities of foreign anddomestic companies involved in providing products, services, or equipment for (i) the generation or distribution of electricity, gas, and waterand (ii) telecommunications services or infrastructure operations (collectively, the Utility Industry). A company will be considered to be in theUtility Industry if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, the indicated activities orutility related activities. As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semiannual shareholder reportswill no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’swebsite (www.gabelli.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report. If youalready elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. To elect to receiveall future reports on paper free of charge, please contact your financial intermediary, or, if you invest directly with the Fund, you may call 800-422-3554 orsend an email request to info@gabelli.com. Performance Discussion (Unaudited) In 2024, the S&P Utility Index (SPU) returned 23.4% compared to the S&P 500 Composite’s return of 25.0%. The SPU performancewas led by independent power producers, including Constellation Energy (CEG; +93%), Vistra (VST; +261%; added in May of 2024), NRGEnergy (NRG; +79%), and PS Enterprise Group (PEG; +43%), which surged on excitement over the potential for artificial intelligence (AI)data center power demand. Regulated utilities also benefitted from enthusiasm about future higher electric sales, moderating inflation andlower short-term interest rates. The median utility stock return was more muted as the 15-stock Dow Jones Utility Average returned 15.2%.The annual returns include December declines of -7.9% and 8.9%, respectively, in the SPU and UTIL primarily due to higher long-term ratesand a steepened yield curve. In 2025, we expect utili