GAMCO Investors Files SC 13D/A Amendment for GDL Fund

TL;DR

GAMCO Investors filed an update on their GDL Fund stake. Watch for changes.

AI Summary

GAMCO Investors, Inc. filed an amendment (No. 19) to its Schedule 13D on March 14, 2024, regarding its holdings in The GDL Fund. The filing indicates a change in the reporting person's status or ownership as of March 8, 2024. GAMCO Investors, Inc. is the filing entity, with David Goldman listed as the authorized contact.

Why It Matters

This amendment signals a potential shift in the investment strategy or ownership structure of The GDL Fund, which could impact its market performance and investor relations.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate significant changes in a major shareholder's position, which can lead to increased volatility.

Key Players & Entities

• GAMCO Investors, Inc. (company) — Filing entity
• The GDL Fund (company) — Subject company
• David Goldman (person) — Authorized contact for notices

FAQ

Filing Documents

• gdl_19.htm (SC 13D/A) — 150KB
• 0000807249-24-000034.txt ( ) — 152KB

Security and Issuer

Item 1. Security and Issuer This Amendment No. 19 to Schedule 13D on the Common Shares of The GDL Fund (the "Issuer") is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the "Schedule 13D"), which was originally filed on January 31, 2007. Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meaning as set forth in the Schedule 13D.

Identity and Background

Item 2. Identity and Background

to Schedule 13D is amended, in pertinent part, as follows

Item 2 to Schedule 13D is amended, in pertinent part, as follows: This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"),

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer

to Schedule 13D is amended, in pertinent part, as follows

Item 5 to Schedule 13D is amended, in pertinent part, as follows: (a) The aggregate number of Securities to which this Schedule 13D relates is 5,046,537 shares, representing 42.18% of the 11,962,985 shares outstanding as reported in the Issuer's Form N-CSR filed on March 8, 2024. This Amendment to Schedule 13D is being filed to reflect an increase in the percent of the outstanding shares beneficially owned by the Reporting Persons which is due to solely to a decrease in the shares outstanding as reported by the Issuer. The Reporting Persons beneficially own those Securities as follows: Name Shares of Common Stock % of Class of Common GAMCO 12,100 0.10% GCIA 7,364 0.06% Foundation 80,800 0.68% GGCP 244,500 2.04% Mario Gabelli 2,797,578 23.39% AC 1,846,943 15.44% GBL 57,252 0.48% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except the voting power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons. (c) Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth on Schedule II annexed hereto and incorporated herein by reference. (e) Not applicable. 9 Signature After reasonable inquiry and to the best of my knowledge and belief, I certif

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