GDL FUND — Director's Dealing 2014

Dec 22, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GDL FUND (GDL.B)
CIK: 0001378701
Period of Report: 2014-12-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-18	Series B Cumulative Preferred Shares	S	235148	$50.16	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series B Cumulative Preferred Shares	25000	Indirect

Footnotes

F1: The shares reported were sold in a private transaction.

F2: The shares reported reflect the total shares owned by a trust account established by Mario J. Gabelli.