GDL FUND (GDL)
The GDL Fund, a closed-ended equity mutual fund, was initially launched by GAMCO Investors, Inc., and is currently overseen by Gabelli Funds, LLC. This fund's strategy involves investing in publicly traded equities across various global markets, focusing on companies within a wide range of sectors. A core part of its investment approach targets firms involved in significant corporate events such as publicly announced mergers, acquisitions, tender offers, and leveraged buyouts. It also allocates capital to businesses undergoing corporate restructurings, including stubs, spin-offs, and liquidations. For performance assessment, the fund's portfolio is benchmarked against the Bank of America Merrill Lynch 3 Month U.S. Treasury Bill Index. Established in the United States on October 17, 2006, the fund was previously known as the Gabelli Global Deal Fund.
Industry: Asset Management
The GDL Fund
NYSE:GDLFinancial Services · Asset Management
-0.12%$8.29
AH Close$8.29+0.00%vs close
AH Close$8.29+0.00%vs close
Mkt Cap$89.06M
Float7.68M
O/S10.74M
Inst Own43.6%
SI0.1%
Div Yield5.79%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$9.48M
Net Income$7.61M
Total Assets$136.31M
Free Cash Flow$37.51M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$115.69M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in GDL's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$136.31M
Liabilities$20.62M
Accounts Receivable$0
Accounts Payable$2.2M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $9.48M | $6.22M | $7.3M | -$1.97M | $4.11M | -$1.55M | $8.65M | -$4.16M | $4.73M |
| YoY Growth | 52.4% | -14.8% | -470.0% | -148.0% | -365.0% | -117.9% | -307.9% | -187.9% | - |
| Cost of Revenue | $1.05M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $8.43M | $6.22M | $7.3M | -$1.97M | $4.11M | -$1.55M | $8.65M | -$4.16M | $4.73M |
| Gross Margin | 88.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $510K | $454K | $676K | $745K | $702K | $961K | $690K | $966K | $614K |
| Other | $310K | $368K | $342K | $68K | $169K | $543K | $716K | $446K | $152K |
| Total Operating Expenses | $821K | $822K | $1.02M | $812K | $871K | $1.5M | $1.41M | $1.24M | $631K |
| Operating Income (EBIT) | $7.61M | $5.4M | $6.29M | -$342K | $3.24M | -$3.06M | $7.24M | -$374K | $4.1M |
| Operating Margin | 80.2% | 86.8% | 86.1% | 17.3% | 78.8% | 196.9% | 83.7% | 9.0% | 86.7% |
| Interest Expense | $1.05M | $2.24M | $2.91M | $2.44M | $1.38M | $2.29M | $5.25M | $5.02M | $3.94M |
| Interest Income | $2.66M | $4.58M | $6.28M | $1.87M | $57K | $463K | $2.08M | $1.98M | $1.32M |
| Other Income (Expense) | $0 | $0 | $0 | -$2.44M | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $7.61M | $5.4M | $6.29M | -$2.79M | $3.24M | -$3.06M | $7.24M | -$5.4M | $4.1M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$161K | $0 |
| Net Income | $7.61M | $5.4M | $6.29M | -$2.79M | $3.24M | -$3.06M | $7.24M | -$5.4M | $4.1M |
| Net Income Margin | 80.2% | 86.8% | 86.1% | 141.2% | 78.8% | 196.9% | 83.7% | 129.7% | 86.7% |
| Supplementary Data | |||||||||
| EPS | 0.00 | 0.49 | 0.54 | -0.18 | 0.24 | -0.22 | 0.46 | -0.29 | 0.24 |
| Diluted EPS | 0.00 | 0.49 | 0.54 | -0.18 | 0.24 | -0.22 | 0.46 | -0.29 | 0.24 |
| Weighted Average OS | 10.96M | 11.02M | 11.64M | 15.48M | 13.50M | 14.10M | 15.75M | 18.61M | 17.09M |
| EBITDA | $7.61M | $0 | $15.65M | $0 | $0 | -$3.61M | $0 | $0 | $8.04M |
| EBITDA Margin | 80.2% | - | 214.3% | - | - | 232.7% | - | - | 169.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $437K | $8 | $104K | $1.41M | $345K | $33K | $1.68M | $16.11M | $114K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $437K | $8 | $104K | $1.41M | $345K | $33K | $1.68M | $16.11M | $114K |
| Accounts Receivable | $0 | $247K | $222K | $202K | $242K | $7.88M | $27.89M | $4.12M | $6.69M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | -$253K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $443K | $8 | $325K | $1.61M | $588K | $7.91M | $29.57M | $20.23M | $6.8M |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $6K | $169.34M | $0 | $9K | $0 | $0 | $340.78M | $307.31M | $338.04M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $135.87M | -$169.34M | $193.3M | $200.88M | $186.52M | $199.36M | -$340.78M | -$307.31M | -$338.04M |
| Total Long-Term Assets | $135.87M | $173.99M | $193.3M | $200.89M | $186.52M | $199.36M | $340.78M | $307.31M | $338.04M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $14.68M | $40.76M | $3.31M |
| Total Assets | $136.31M | $173.99M | $193.62M | $202.51M | $187.11M | $207.27M | $385.03M | $368.29M | $348.15M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $2.2M | $781K | $1.27M | $814K | $176K | $8.29M | $59.11M | $19.56M | $5.93M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | -$1.13M | $0 | $0 | $0 | $0 | -$2.53M | -$210K | -$1.81M |
| Total Current Liabilities | $3.63M | $1.13M | $1.27M | $814K | $176K | $8.29M | $59.11M | $19.66M | $5.93M |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $145K | $9K | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $16.99M | $54.88M | $70.52M | $72.59M | $41.28M | $47.54M | -$145K | -$9K | $0 |
| Total Long-Term Liabilities | $16.99M | $54.88M | $70.52M | $72.59M | $41.28M | $47.54M | $145K | $9K | $1.22M |
| Other Liabilities | $0 | $56.01M | $0 | $0 | $0 | $0 | $151.09M | $165.19M | $136.91M |
| Total Liabilities | $20.62M | $56.01M | $71.79M | $73.41M | $41.45M | $55.82M | $210.35M | $184.86M | $144.05M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $113.62M | $119.19M | $123.96M | $134.75M | $148.41M | $154.91M | $179.2M | $194.2M | $203.06M |
| Retained Earnings | $2.08M | -$1.22M | -$2.12M | -$5.66M | -$2.75M | -$3.46M | -$4.51M | -$10.77M | -$360K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.4M |
| Total Equity | $115.69M | $117.98M | $121.83M | $129.1M | $145.66M | $151.45M | $174.69M | $183.43M | $204.1M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $136.31M | $173.99M | $193.62M | $202.51M | $187.11M | $207.27M | $385.03M | $368.29M | $348.15M |
| Supplementary Data | |||||||||
| Total Debt | $0 | $0 | $0 | $0 | $0 | $0 | $145K | $9K | $1.22M |
| Net Debt | -$437K | -$8 | -$104K | -$1.41M | -$345K | -$33K | -$1.54M | -$16.1M | $1.1M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | $7.61M | $5.4M | $6.29M | -$2.79M | $3.24M | -$3.06M | $7.24M | -$5.4M | $4.1M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | -$1.29M | -$25K | -$20K | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $2.34M | -$1.49M | -$331K | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | $1.05M | -$1.51M | -$351K | $2.11M | -$4.73M | -$27.31M | $17.99M | -$22.56M | -$49.7M |
| Other Non-Cash Items | $28.85M | $20.4M | $13.14M | -$19.65M | $8.74M | $139.03M | -$49.83M | $60.54M | $53.99M |
| Net Cash from Operating | $37.51M | $24.28M | $19.07M | -$20.32M | $7.26M | $108.67M | -$24.6M | $32.58M | $8.4M |
| Investing Activities | |||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | |||||||||
| Debt Repaid | - | - | - | -$15K | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $133K | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$42.15M | -$19.11M | -$14.34M | -$7.31M | -$2.37M | -$110.18M | -$9.58M | -$8.38M | -$6.4M |
| Dividends Paid | -$5.27M | -$5.62M | -$5.89M | -$6.45M | -$6.66M | -$6.75M | -$6.41M | -$6.89M | -$10.39M |
| Other Financing Activities | -$1K | $1K | -$155K | $133K | $7K | -$105K | $7K | -$109K | -$237K |
| Net Cash from Financing | -$40.77M | -$24.72M | -$20.38M | $21.39M | -$9.02M | -$117.04M | -$15.98M | -$15.38M | -$17.02M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$3.26M | -$439K | -$1.31M | $1.07M | -$1.77M | -$8.37M | -$40.58M | $17.2M | -$8.62M |
| Supplementary Data | |||||||||
| Operating Cash Flow | $37.51M | $24.28M | $19.07M | -$20.32M | $7.26M | $108.67M | -$24.6M | $32.58M | $8.4M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $37.51M | $24.28M | $19.07M | -$20.32M | $7.26M | $108.67M | -$24.6M | $32.58M | $8.4M |
| Cash at Beginning | $4.22M | $4.66M | $1.41M | $345K | $7.44M | $15.81M | $56.39M | -$1.1M | $7.52M |
| Cash at End | $963K | $4.22M | $104K | $1.41M | $5.67M | $7.44M | $15.81M | $16.1M | -$1.1M |