GDL Fund
GDL
23 hedge funds and large institutions have $39.7M invested in GDL Fund in 2025 Q1 according to their latest regulatory filings, with 2 funds opening new positions, 5 increasing their positions, 9 reducing their positions, and 6 closing their positions.
1.9% less ownership
Funds ownership: 44.81% → 42.91% (-1.9%)
7% less capital invested
Capital invested by funds: $42.7M → $39.7M (-$2.94M)
15% less funds holding
Funds holding: 27 → 23 (-4)
44% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 9
67% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 6
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
+$3.03M |
| 2 |
Morgan Stanley
New York
|
+$125K |
| 3 |
BRWA
B. Riley Wealth Advisors
Boca Raton,
Florida
|
+$108K |
| 4 |
VF
Virtu Financial
New York
|
+$90.1K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$15.5K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$4.92M |
| 2 |
PAS
Park Avenue Securities
New York
|
-$723K |
| 3 |
ZA
Zazove Associates
Incline Village,
Nevada
|
-$660K |
| 4 |
Wells Fargo
San Francisco,
California
|
-$278K |
| 5 |
CA
Cornerstone Advisors
Asheville,
North Carolina
|
-$251K |
GDL Hedge Fund Activity: Q1 2025 in Review
23 of the 7,472 institutional investors tracked by Wall St. Rank reported a position in GDL Fund (GDL) for Q1 2025, worth a combined $39.7M — down 6.9% from $42.7M a quarter earlier.
Sellers outnumbered buyers: 6 funds closed out of GDL and 2 opened new positions — a net loss of 4 holders — while 9 trimmed existing stakes and 5 added.
The largest buyer was Bulldog Investors, opening a new position worth an estimated $3.03M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $4.92M sold.
- 23 institutional investors held GDL Fund (GDL) as of Q1 2025, down from 27 in Q4 2024.
- Funds reported $39.7M of GDL Fund stock for Q1 2025, down 6.9% quarter-over-quarter.
- 2 funds opened new GDL Fund positions in Q1 2025 and 6 closed out, a net change of -4 holders.
- The largest GDL Fund buyer in Q1 2025 was Bulldog Investors, an estimated $3.03M added.
- The largest GDL Fund seller in Q1 2025 was Independent Advisor Alliance, an estimated $4.92M sold.
Based on aggregated 13F filings for Q1 2025.