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GDL

GDL Fund
GDL

27 hedge funds and large institutions have $41.1M invested in GDL Fund in 2025 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 10 increasing their positions, 5 reducing their positions, and 0 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more repeat investments, than reductions

Existing positions increased: 10 | Existing positions reduced: 5

23% more funds holding

Funds holding: 22 → 27 (+5)

1.44% more ownership

Funds ownership: 42.35% → 43.79% (+1.4%)

5% more capital invested

Capital invested by funds: $39.2M → $41.1M (+$1.88M)

Holders
27
Holders Change
+5
Holders Change %
+22.73%
% of All Funds
0.36%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
10
Reduced
5
Closed
–
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
PAS
Park Avenue Securities
New York
+$701K
2
BI
Bulldog Investors
New Jersey
+$359K
3
Osaic Holdings
Osaic Holdings
Arizona
+$289K
4
Stifel Financial
Stifel Financial
Missouri
+$232K
5
MC
Matisse Capital
Oregon
+$139K

Top Sellers

Rank Fund Capital Flow
1
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
-$541K
2
Wells Fargo
Wells Fargo
California
-$80.5K
3
Bank of America
Bank of America
North Carolina
-$64.8K
4
Envestnet Asset Management
Envestnet Asset Management
Illinois
-$22.1K
5
ICMP
Integrated Capital Management (Pennsylvania)
Pennsylvania
-$3.37K
Name Holding Trade Value Shares
Change 		Change in
Stake
CFD
26
Creative Financial Designs
Indiana
$14.3K – – –
AAS
27
Ameritas Advisory Services
Nebraska
$9.43K +$9.25K +1,130 New
1
2

GDL Hedge Fund Activity: Q2 2025 in Review

27 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q2 2025, worth a combined $41.1M — up 4.8% from $39.2M a quarter earlier.

Buyers outnumbered sellers: 5 funds opened new GDL positions and 0 closed out — a net gain of 5 holders — while 10 added to existing stakes and 5 trimmed.

The largest buyer was Park Avenue Securities, opening a new position worth an estimated $701K. The largest seller was Kovitz Investment Group Partners, cutting an estimated $541K.

  • 27 institutional investors held GDL Fund (GDL) as of Q2 2025, up from 22 in Q1 2025.
  • Funds reported $41.1M of GDL Fund stock for Q2 2025, up 4.8% quarter-over-quarter.
  • 5 funds opened new GDL Fund positions in Q2 2025 and 0 closed out, a net change of +5 holders.
  • The largest GDL Fund buyer in Q2 2025 was Park Avenue Securities, an estimated $701K added.
  • The largest GDL Fund seller in Q2 2025 was Kovitz Investment Group Partners, an estimated $541K sold.

Based on aggregated 13F filings for Q2 2025.