GDL FUND — Director's Dealing 2013

Jul 15, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GDL FUND (GDL.B)
CIK: 0001378701
Period of Report: 2013-07-11

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-07-11	Series B Cumulative Puttable and Callable Preferred Shares	S	105000	$50.21	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Series B Cumulative Puttable and Callable Preferred Shares	450148	Direct

Footnotes

F1: The shares reported were sold through a cross trade.

F2: The shares reported reflect the total shares owned by GGCP, Inc. (GGCP). 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.