GDL FUND — Director's Dealing 2010

Aug 18, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Gabelli Global Deal Fund (GDL.A)
CIK: 0001378701
Period of Report: 2010-08-16

Reporting Person: GABELLI MARIO J (Director, 10% Owner, Control Person of Advisor)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-08-16	Series A Cumulative Callable Preferred Shares	S	500	$53.44	Disposed	377064	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series A Cumulative Callable Preferred Shares	115000	Indirect
Series A Cumulative Callable Preferred Shares	103337	Indirect
Series A Cumulative Callable Preferred Shares	50798	Indirect
Series A Cumulative Callable Preferred Shares	717	Indirect

Footnotes

F1: These shares are owned by GGCP, Inc. (GGCP). Mr. Mario J. Gabelli is the Chief Executive Officer, a director, and the controlling shareholder of GGCP. Mr. Gabelli has less than a 100% interest in GGCP and disclaims beneficial ownership of the shares held by it, which are in excess of his indirect pecuniary interest.

F2: These shares are owned by GAMCO Investors, Inc. (GAMCO). Mario J. Gabelli is the Chairman, Chief Executive Officer, and controlling shareholder of GAMCO. Mr. Gabelli has less than a 100% interest in GAMCO and disclaims beneficial ownership of the shares held by it, which are in excess of their indirect pecuniary interests.

F3: These shares are owned by MJG IV Limited Partnership a limited partnership for which Mr. Gabelli serves as a general partner. Mr. Gabelli has less than a 100% interest in the entity and disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.

F4: These shares are owned by Gabelli Securities, Inc. (GSI) a majority owned subsidiary of GAMCO. Mr. Gabelli, has less than a 100% interest in GSI and disclaims beneficial ownership of the shares held by GSI which are in excess of his indirect pecuniary interests.