GDL FUND — Director's Dealing 2018

Apr 30, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GDL FUND (GDL)
CIK: 0001378701
Period of Report: 2018-04-26

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
2018-04-26	Common Shares, Par Value $0.001	P	5009	$9.3809	Acquired	369717.04	Direct
2018-04-27	Common Shares, Par Value $0.001	P	3135	$9.3636	Acquired	372852.04	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares, Par Value $0.001	717702.67	Indirect
Common Shares, Par Value $0.001	7174.2	Indirect
Common Shares, Par Value $0.001	200844	Indirect
Common Shares, Par Value $0.001	816755	Indirect
Common Shares, Par Value $0.001	53102.12	Indirect
Common Shares, Par Value $0.001	38960.69	Indirect

Footnotes

F1: Total includes shares acquired through dividend reinvestment subsequent to the initial purchase.

F2: The shares reported reflect the total shares owned by Associated Capital Group, Inc. (AC). Mario J. Gabelli is the Executive Chairman and controlling shareholder of AC. Mr. Gabelli has less than a 100% interest in AC and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

F3: The shares reported reflect the total shares owned by Gabelli & Company Investment Advisers, Inc. (GCIA), a majority owned subsidiary of GAMCO. Mr. Gabelli has less than a 100% interest in GCIA and disclaims beneficial ownership of the shares held by this entity which are in excess of his indirect pecuniary interest.

F4: 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.

F5: G.research, a wholly owned subsidiary of GCIA, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (1934 Act), which as a part of its business regularly purchases and sells securities for its own account.

F6: The shares reported reflect the total shares 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.

F7: The shares reported reflect the total shares owned by GPJ Retirement Partners, LLC, a limited liability company. 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.