Dark
Light
System
Security
GDL FUND
GDL FUND. Institutional holdings reported to the SEC.

Institutional Holders (2016Q4)
Portfolio Summary: 44 Institutional holders with a total value of $85,735,000.
#
Manager Name
Shares
Value ($)
%
Options
Notes
1 GABELLI & Co INVESTMENT ADVISERS, INC. 1,418,091 13,954,000 16.28%
2 LAZARD ASSET MANAGEMENT LLC 1,366,781 13,449,000 15.69%
3 Advisors Asset Management, Inc. 1,037,639 10,210,000 11.91%
4 Glacier Peak Capital LLC 957,212 9,419,000 10.99%
5 DESCHUTES PORTFOLIO STRATEGY, LLC 606,000 5,963,000 6.96%
6 RAYMOND JAMES & ASSOCIATES 490,767 4,829,000 5.63%
7 RIVERNORTH CAPITAL MANAGEMENT, LLC 385,272 3,791,000 4.42%
8 FINANCIAL & INVESTMENT MANAGEMENT GROUP LTD 334,492 3,291,000 3.84%
9 CORNERSTONE ADVISORS INC 324,506 3,193,000 3.72%
10 GAMCO INVESTORS, INC. ET AL 280,185 2,757,000 3.22%
11 BANK OF AMERICA CORP /DE/ 245,562 2,416,000 2.82%
12 Ancora Advisors LLC 184,905 1,820,000 2.12%
13 MORGAN STANLEY 121,360 1,195,000 1.39%
14 ZAZOVE ASSOCIATES LLC 110,269 1,085,000 1.27%
15 CSS LLC/IL 90,205 888,000 1.04%
16 1607 Capital Partners, LLC 86,278 849,000 0.99%
17 Horizon Kinetics LLC 85,362 840,000 0.98%
18 SENTINEL TRUST CO LBA 81,063 798,000 0.93%
19 GUGGENHEIM CAPITAL LLC 65,019 640,000 0.75%
20 WELLS FARGO & COMPANY/MN 41,929 413,000 0.48%
21 DOLIVER ADVISORS, LP 41,448 408,000 0.48%
22 Round Table Services, LLC 34,300 338,000 0.39%
23 MSI Financial Services Inc 31,756 312,000 0.36%
24 WEDBUSH SECURITIES INC 31,452 309,000 0.36%
25 TFS CAPITAL LLC 30,587 301,000 0.35%
26 OPERA TRADING CAPITAL 27,740 272,000 0.32%
27 RELATIVE VALUE PARTNERS GROUP, LLC 27,485 270,000 0.31%
28 CITIGROUP INC 27,344 269,000 0.31%
29 Bulldog Investors, LLP 26,554 261,000 0.30%
30 LADENBURG THALMANN FINANCIAL SERVICES INC. 17,840 176,000 0.21%
31 Raymond James Financial Services Advisors, Inc. 13,750 135,000 0.16%
32 LPL Financial LLC 13,530 134,000 0.16%
33 CUE ADVISORY SERVICES, INC. 12,535 123,000 0.14%
34 Arete Wealth Advisors, LLC 11,950 118,000 0.14%
35 ROYAL BANK OF CANADA 10,897 107,000 0.12%
36 UBS Group AG 10,788 106,000 0.12%
37 GEODE CAPITAL MANAGEMENT, LLC 10,342 101,000 0.12%
38 Jolley Asset Management, LLC 6,820 67,000 0.08%
39 Thomas J. Herzfeld Advisors, Inc. 5,000 49,000 0.06%
40 WFG Advisors, LP 2,500 25,000 0.03%
41 IFP ADVISORS, INC 1,869 18,000 0.02%
42 PNC FINANCIAL SERVICES GROUP, INC. 1,479 15,000 0.02%
43 TRUST CO OF VERMONT 1,550 15,000 0.02%
44 BENJAMIN F. EDWARDS & COMPANY, INC. 600 6,000 0.01%

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.