GDL Fund
30 hedge funds and large institutions have $31.9M invested in GDL Fund in 2022 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 8 increasing their positions, 13 reducing their positions, and 5 closing their positions.
40% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 5
7% more funds holding
Funds holding: 28 → 30 (+2)
12.13% less ownership
Funds ownership: 41.74% → 29.61% (-12%)
30% less capital invested
Capital invested by funds: $45.5M → $31.9M (-$13.6M)
38% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 13
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ZA
Zazove Associates
Incline Village,
Nevada
|
+$924K |
| 2 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
+$244K |
| 3 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
+$238K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$164K |
| 5 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$148K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GCIA
Gabelli & Co Investment Advisers
Rye,
New York
|
-$14.7M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$2.78M |
| 3 |
MIG
Mariner Investment Group
Harrison,
New York
|
-$963K |
| 4 |
GI
GAMCO Investors
Greenwich,
Connecticut
|
-$814K |
| 5 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
-$486K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TJHA
26
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $40.9K | +$616 | +78 | +2% |
|
|
WAM
27
Wolverine Asset Management
Chicago,
Illinois
| $36.9K | +$37.2K | +4,711 | New |
|
|
FWA
28
Freedom Wealth Alliance
Brookfield,
Wisconsin
| $25.8K | +$26K | +3,289 | New |
|
|
MSFP
29
Mark Sheptoff Financial Planning
Glastonbury,
Connecticut
| $23.5K | – | – | – |
|
30
Rockefeller Capital Management
New York
| $15K | +$16K | +2,030 | New |
|
|
GCIA
31
Gabelli & Co Investment Advisers
Rye,
New York
| – | -$14.7M | -1,854,307 | Closed |
|
|
RCM
32
Rivernorth Capital Management
West Palm Beach,
Florida
| – | -$2.78M | -350,843 | Closed |
|
|
MIG
33
Mariner Investment Group
Harrison,
New York
| – | -$963K | -121,559 | Closed |
|
|
RJT
34
Raymond James Trust
St. Petersburg,
Florida
| – | -$81K | -10,218 | Closed |
|
|
CWM
35
Castle Wealth Management
West Palm Beach,
Florida
| – | -$77K | -9,709 | Closed |
|
GDL Hedge Fund Activity: Q4 2022 in Review
30 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q4 2022, worth a combined $31.9M — down 30% from $45.5M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new GDL positions and 5 closed out — a net gain of 2 holders — while 8 added to existing stakes and 13 trimmed.
The largest buyer was Zazove Associates, adding an estimated $924K. The largest seller was Gabelli & Co Investment Advisers, exiting entirely with an estimated $14.7M sold.
- 30 institutional investors held GDL Fund (GDL) as of Q4 2022, up from 28 in Q3 2022.
- Funds reported $31.9M of GDL Fund stock for Q4 2022, down 30% quarter-over-quarter.
- 7 funds opened new GDL Fund positions in Q4 2022 and 5 closed out, a net change of +2 holders.
- The largest GDL Fund buyer in Q4 2022 was Zazove Associates, an estimated $924K added.
- The largest GDL Fund seller in Q4 2022 was Gabelli & Co Investment Advisers, an estimated $14.7M sold.
Based on aggregated 13F filings for Q4 2022.