GDL Fund (N:GDL)

Sector:  Financials Industry:  Closed End Funds
 
See Regulatory Filings on SEC
Company Contact
Address: One Corporate Center
RYE NY 10580
Tel: N/A
Website: www.gabelli.com
IR: See website
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Key People
John C. Ball
President, Treasurer, and Principal Financial and Accounting Officer 		Mario J. Gabelli
Chief Investment Officer, Trustee 		Richard J. Walz
Chief Compliance Officer
Peter D. Goldstein
Vice President, Company Secretary 		Carter W. Austin
Vice President 		Laurissa M. Martire
Vice President, Ombudsman
David I. Schachter
Vice President 		   
Business Overview
The GDL Fund (the Fund) is a diversified closed-end management investment company. The Fund's primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund will seek to achieve its objective by investing primarily in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations. The Fund will invest at least 80% of its assets in securities or hedging arrangements relating to companies involved in corporate transactions or reorganizations, giving rise to the possibility of realizing gains upon or within relatively short periods of time after the completion of such transactions or reorganizations. It has investment in sectors, including financial services, energy and utilities, semiconductors, food and beverage, healthcare, wireless communications, automotive and cable and satellite. The Fund's advisor is Gabelli Funds, LLC.
Financial Overview
For the fiscal year ended 31 December 2023, GDL Fund revenues increased from $3.1M to $7M. Net income totaled $6.3M vs. loss of $2.8M. Revenues reflect Interest increase from $1.9M to $6.3M. Net Income reflects Unrealized G/L on Investment Securities increase from $3.3M (expense) to $4.5M (income), Realized G/L on Investments Securities increase from $372K (expense) to $1.6M (income).
Reporting Currency: U.S. Dollars
Enterprise value: $155.72M as of Dec 31, 2023
Annual revenue (TTM): $6.97M as of Dec 31, 2023
EBITDA (TTM): $1.15M as of Dec 31, 2023
Net annual income (TTM): $6.29M as of Dec 31, 2023
Free cash flow (TTM): $13.18M as of Dec 31, 2023
Net Debt Last Fiscal Year: $62.70M as of Dec 31, 2023
Shares outstanding: 11,872,761 as of Mar 15, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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