The Gabelli Convertible and Income Securities Fund Inc.
GCV
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Mario Joseph Gabelli
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- One Corporate Center Rye NY United States of America 10580-1422
- IPO Date
- Mar 31, 1995
- CIK
- 0000845611
- Website
- gabelli.com
- Similar Companies
- Business
- The Gabelli Convertible and Income Securities Fund Inc. (NYSE: GCV) is a diversified, closed-end management investment company whose primary investment objective is to seek a high level of total return through a combination of current income and capital appreciation by investing primarily in convertible securities and other income-producing securities. The Fund invests at least 80% of its net assets, under normal market conditions, in convertible corporate bonds, mandatory convertible securities, preferred stocks, high-yield debt instruments, investment-grade corporate bonds, and equities across diversified sectors including energy and utilities, health care, computer software and services, financial services, semiconductors, and real estate investment trusts; notable portfolio holdings as of March 31, 2024, include convertible bonds from companies such as NextEra Energy Partners LP, HCI Group Inc., Exact Sciences Corp., Impinj Inc., and Cardlytics Inc., alongside common stocks like The Bank of New York Mellon Corp. and American Express Co., and U.S. Treasury Bills. The Fund benchmarks its performance against the S&P 500 Index, Bloomberg Government/Credit Bond Index, and Lipper Convertible Securities Fund Average; it employs leverage through Series G Cumulative Preferred Shares (outstanding as of March 31, 2024, with mandatory redemption on June 26, 2025) and maintains an 8% minimum annual distribution policy based on average net asset value, with 2024 distributions estimated to comprise 8% from net investment income and 92% as return of capital. Formed on December 19, 1988, and converted to closed-end status on March 31, 1995 (formerly known as Gabelli Convertible Securities Fund Inc.), the Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc., with portfolio management led by Mario J. Gabelli, CFA (Chairman and CIO), James A. Dinsmore, CFA, and Thomas H. Dinsmore; it is headquartered at One Corporate Center, Rye, New York 10580. In recent developments, the Fund has actively participated in the accelerated convertible issuance market over the past six months through March 31, 2024, including selective redeployment into new issues such as Cardlytics Inc.'s 4.25% convertible bond due April 1, 2029 (following its refinancing of prior debt and partnership announcement with American Express), while trimming fixed income equivalent holdings amid refinancing trades; it added new positions in convertible notes from issuers like CONV. NOTE (US:US665531AJ80), CONV. NOTE (US:US803607AD25), and Array Technologies Inc., and outperformed the ICE BAML All Convertibles Index in Q3 2025. The Fund trades on the New York Stock Exchange and serves investors seeking balanced exposure to income and growth in U.S. and select international markets, with a gross expense ratio of 2.4% (net 2.2%) as of the latest reporting.