The GDL Fund
GDL-PC
New York Stock Exchange- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- The GDL Fund (NYSE: GDL and GDL-PC) is a diversified closed-end management investment company that seeks to achieve absolute returns in various market conditions without excessive risk of capital by investing primarily in merger arbitrage transactions involving publicly announced mergers, takeovers, tender offers, and leveraged buyouts; and to a lesser extent, in corporate reorganizations such as stubs, spin-offs, and liquidations. The Fund allocates at least 80% of its assets to securities or hedging arrangements tied to such event-driven opportunities across diversified sectors including computer software and services, financial services, health care, energy and utilities, telecommunications, food and beverage, and building and construction; it also maintains positions in U.S. government obligations, closed-end funds, rights, and contingent value rights (CVRs), while employing short sales and forward foreign exchange contracts for hedging. GAMCO Investors, Inc., founded in 1977 by Mario J. Gabelli, oversees the Fund through its subsidiary Gabelli Funds, LLC, with operations domiciled in the United States and global exposure primarily in North America, Europe, Latin America, and Asia-Pacific; the Fund trades on the New York Stock Exchange and is headquartered in Rye, New York. In recent developments, the Fund declared its fourth quarter distribution of $0.12 per share on November 26, 2025, consistent with its policy of providing quarterly payouts that may include return of capital. For the year ended December 31, 2024, the Fund reported a net asset value total return of 5.6% and a market total return of 5.9%, outperforming the ICE BofA 3 Month U.S. Treasury Bill Index's 5.3%, amid robust global M&A activity totaling over $3.5 trillion, with key portfolio contributors including completed deals like ImmunoGen by AbbVie, MDC Holdings by Sekisui House, and Kaman Corp by Arcline Investment Management. Earlier, the Fund successfully completed a preferred share offering, issuing $131 million of Series C Cumulative Puttable and Callable Preferred Shares. The Fund continues to navigate event-driven strategies, with top holdings as of late 2024 including Capital One Financial Corp, Kellanova, Verona Pharma plc, Frontier Communications Parent Inc, and Informatica Inc.