GDL FUND — Director's Dealing 2023

Mar 28, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GDL FUND (GDL.E)
CIK: 0001378701
Period of Report: 2023-03-27

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
2023-03-27	Series E Cumulative Preferred Shares	J	250000	$10	Disposed	250000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series E Cumulative Preferred Shares	300000	Indirect
Series E Cumulative Preferred Shares	240000	Indirect
Series E Cumulative Preferred Shares	200000	Indirect

Footnotes

F1: Shares were surrendered in accordance with Right to Put to the Fund up to 100% of Outstanding Series E Cumulative Preferred Shares.

F2: The shares reported reflect the total shares 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 his indirect pecuniary interest.

F3: The shares reported reflect the total shares owned by Associated Capital Group, Inc. (AC). Mario J. Gabelli is the Executive Chair 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.

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.