Mario J. Gabelli - 23 Feb 2026 Form 4 Insider Report for GDL FUND (GDL)

Role: Director, Control Person of Adviser, 10%+ Owner
Signature: Douglas R. Jamieson as Attorney-in-Fact for Mario J. Gabelli
Issuer symbol: GDL
Transactions as of: 23 Feb 2026
Net transactions value: -$6,816
Form type: 4
Filing time: 24 Feb 2026, 15:53:12 UTC
Previous filing: 18 Feb 2026
Next filing: 25 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
GABELLI MARIO J	Director, Control Person of Adviser, 10%+ Owner	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE	Douglas R. Jamieson as Attorney-in-Fact for Mario J. Gabelli	24 Feb 2026	0001185533

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GDL	Common Shares, Par Value $0.001	Sale	$6,816	-800	-0.03%	$8.52	2,747,977	23 Feb 2026	Direct
holding	GDL	Common Shares, Par Value $0.001						1,846,636	23 Feb 2026	Associated Capital Group, Inc.	F1
holding	GDL	Common Shares, Par Value $0.001						7,364	23 Feb 2026	Gabelli & Company Investment Advisers, Inc.	F2
holding	GDL	Common Shares, Par Value $0.001						242,000	23 Feb 2026	GGCP, Inc.	F3
holding	GDL	Common Shares, Par Value $0.001						48,000	23 Feb 2026	GPJ Retirement Partners	F4
holding	GDL	Common Shares, Par Value $0.001						57,252	23 Feb 2026	GAMCO Investors, Inc.	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares reported reflect the total shares owned by Associated Capital Group, Inc. (ACG). Mario J. Gabelli is the Executive Chair and controlling shareholder of ACG. Mr. Gabelli has less than a 100% interest in ACG and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.
F2	The shares reported reflect the total shares owned by Gabelli & Company Investment Advisers, Inc. (GCIA), a wholly owned subsidiary of Associated Capital Group, Inc. 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.
F3	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.
F4	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.
F5	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.