The Gabelli Equity Trust Inc Series G Pfd 2024年度报告

FORMN-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTEREDMANAGEMENT INVESTMENT COMPANIES Investment Company Act file number811-04700 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 Rule30e-1 under the Act (17 CFR 270.30e-1). The Report to Shareholders is attached herewith. The Gabelli Equity Trust Inc.Annual Report — December31, 2024 To Our Stockholders, For the year ended December31, 2024, the net asset value (NAV) total return of The Gabelli Equity Trust Inc. (the Fund) was 12.8%,compared with total returns of 25.0% and 15.0% for the Standard & Poor’s (S&P) 500 Index and the Dow Jones Industrial Average,respectively. The total return for the Fund’s publicly traded shares was 18.3%. The Fund’s NAV per share was $5.24, while the price of thepublicly traded shares closed at $5.38 on the New York Stock Exchange (NYSE). See page 4 for additional performance information. Investment Objective and Strategy (Unaudited) The Fund’s primary investment objective is to achieve long term growth of capital by investing primarily in a portfolio of equity securitiesconsisting of common stock, preferred stock, convertible or exchangeable securities, and warrants and rights to purchase such securitiesselected by the Investment Adviser. Income is a secondary investment objective. Under normal market conditions, the Fund will invest atleast 80% of the value of its total assets in equity securities. Performance Discussion (Unaudited) Top contributors during the first quarter of 2024 included credit card companies American Express (+22%) and Mastercard (+13%), asboth companies are benefiting from the continued resilience in consumer spending in the U.S. and globally. Berkshire Hathaway (+17%)shares rose on the strength of its industrial businesses and as the company grows its cash hoard, some of which it continues to use forshare repurchases. Shares of Modine Manufacturing (+59%) gained as the company delivered significantly higher profit margins andexpanded its exposure to data centers with its acquisition of air handling unit manufacturer Scott Springfield Manufacturing. Finally, autoparts retailer O’Reilly Automotive (+19%) continues to benefit from the long-term tailwind from the aging car population while deliveringbest-in-class store economics and efficiency. 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. Second quarter returns were led by Costco Wholesale (+16%), American Express (+4%) – both of which continue to benefit fromresilient spending by higher-end consumers – and Texas Instruments (+12%), where hopes are rising for a cyclical recovery in analog chipdemand. UScellular (USM) (+53%) and its 83%-owner Telephone & Data Systems (+30%) were also notable contributors after USMannounced the sale of its wireless customers and a portion of its spectrum to T-Mobile for $4.4 billion. The largest detractor from secondquarter performance was Mastercard Inc. (-8%), which reported solid but unspectacular Q1 results after years of outperformance. Otherhistorically stron