Gabelli Innovations Trust will rename two funds effective on or about November 3, 2026, while replacing one fund’s pet-industry mandate with a defense focus requiring at least 80% Investment exposure. The changes also replace advisers and portfolio managers, giving investors new fund names, mandates and oversight arrangements.

Key Highlights

  • The G-Legion Defense Fund will invest at least 80% of net Assets plus investment borrowings in defense-related companies under normal circumstances.
  • Teton Advisors, LLC will become adviser to the Funds, while G-Legion, LLC will sub-advise the G-Legion Defense Fund.
  • The trust will change the investment objective from Capital appreciation to long-term capital appreciation.

Gabelli Innovations Trust will rename its Gabelli Media Mogul Fund as the Moguls Fund and its Gabelli Pet Parents’ Fund as the G-Legion Defense Fund on or about November 3, 2026. The changes will also reset the funds’ investment policies, advisers and portfolio-management arrangements.

The former pet-industry fund will replace its existing policy with a requirement to invest at least 80% of net assets, plus investment borrowings, in companies deriving significant revenue, or holding significant assets in, defense-related industries. The G-Legion Defense Fund will also change its objective to seeking long-term capital appreciation.

New Adviser and Portfolio Managers

Gabelli Funds, LLC will no longer advise either fund once the changes take effect. Nicholas F. Galluccio is anticipated to manage the Moguls Fund, with Jason D. Lamb anticipated to manage the G-Legion Defense Fund. The supplement is dated September 4, 2026, and relates to documents dated January 28, 2026, previously supplemented on March 9, March 24, May 6 and July 8, 2026.