GDL Fund
GDL
32 hedge funds and large institutions have $42M invested in GDL Fund in 2025 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 8 increasing their positions, 6 reducing their positions, and 4 closing their positions.
125% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 4
33% more repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 6
19% more funds holding
Funds holding: 27 → 32 (+5)
1.39% more ownership
Funds ownership: 42.66% → 44.05% (+1.4%)
2% more capital invested
Capital invested by funds: $41M → $42M (+$945K)
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Focus Partners Wealth
Boston,
Massachusetts
|
+$5.03M |
| 2 |
GI
GAMCO Investors
Greenwich,
Connecticut
|
+$1.58M |
| 3 |
Morgan Stanley
New York
|
+$597K |
| 4 |
GC
GatePass Capital
Independence,
Ohio
|
+$241K |
| 5 |
BBPWM
Blue Bell Private Wealth Management
Blue Bell,
Pennsylvania
|
+$88.2K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$5.44M |
| 2 |
PAS
Park Avenue Securities
New York
|
-$713K |
| 3 |
Osaic Holdings
Scottsdale,
Arizona
|
-$266K |
| 4 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
-$149K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$95.9K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
26
Osaic Holdings
Scottsdale,
Arizona
| $23.6K | -$266K | -31,280 | -92% |
|
|
MSFP
27
Mark Sheptoff Financial Planning
Glastonbury,
Connecticut
| $16.9K | – | – | – |
|
|
CFD
28
Creative Financial Designs
Kokomo,
Indiana
| $14.5K | – | – | – |
|
|
KG
29
Kilter Group
Rhinebeck,
New York
| $12.9K | +$178 | +21 | +1% |
|
|
MO
30
McMillan Office
St. Clair Shores,
Michigan
| $8.47K | +$8.49K | +1,000 | New |
|
|
HWP
31
Highline Wealth Partners
Sherman Oaks,
California
| $2.75K | +$2.76K | +325 | New |
|
|
BC
32
Barrett & Company
Providence,
Rhode Island
| $1.69K | +$1.7K | +200 | New |
|
|
33
Kovitz Investment Group Partners
Chicago,
Illinois
| – | -$5.44M | -635,847 | Closed |
|
|
PAS
34
Park Avenue Securities
New York
| – | -$713K | -83,351 | Closed |
|
|
35
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$95.9K | -11,215 | Closed |
|
|
AAS
36
Ameritas Advisory Services
Lincoln,
Nebraska
| – | -$9.66K | -1,130 | Closed |
|
GDL Hedge Fund Activity: Q4 2025 in Review
32 of the 8,225 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q4 2025, worth a combined $42M — up 2.3% from $41M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new GDL positions and 4 closed out — a net gain of 5 holders — while 8 added to existing stakes and 6 trimmed.
The largest buyer was Focus Partners Wealth, opening a new position worth an estimated $5.03M. The largest seller was Kovitz Investment Group Partners, exiting entirely with an estimated $5.44M sold.
- 32 institutional investors held GDL Fund (GDL) as of Q4 2025, up from 27 in Q3 2025.
- Funds reported $42M of GDL Fund stock for Q4 2025, up 2.3% quarter-over-quarter.
- 9 funds opened new GDL Fund positions in Q4 2025 and 4 closed out, a net change of +5 holders.
- The largest GDL Fund buyer in Q4 2025 was Focus Partners Wealth, an estimated $5.03M added.
- The largest GDL Fund seller in Q4 2025 was Kovitz Investment Group Partners, an estimated $5.44M sold.
Based on aggregated 13F filings for Q4 2025.