GDL FUND (GDL) — Institutional Holders, Q2 2026
32 institutional investment managers reported a GDL position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $39.8M. Every filer is listed below, ranked by position value. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.
GDL in Q2 2026: what funds did
Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.
Biggest buyers
- PARK AVENUE SECURITIESNew · +82,604 sh+$699.7K
- Atlas WealthNew · +55,366 sh+$468.9K
- SUSQUEHANNA INTERNATIONAL GROUP, LLPNew · +14,251 sh+$120.7K
- MORGAN STANLEYAdded · +12,547 sh+$106.3K
- Matisse CapitalAdded · +11,125 sh+$94.2K
Biggest sellers
- Independent Advisor AllianceSold out · -384,932 sh-$3.3M
- ZAZOVE ASSOCIATESSold out · -120,522 sh-$1.0M
- Focus Partners WealthTrimmed · -68,545 sh-$580.6K
- GatePass CapitalTrimmed · -40,650 sh-$344.3K
- Ancora AdvisorsTrimmed · -26,468 sh-$224.2K
GDL 13F holders ranked 1–32 of 32
| # | Institution | Shares | Value | % of portfolio | QoQShares vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | GABELLI & INVESTMENT ADVISERS#1 · 1,846,636 sh | 1,846,636 | $15.6M | 2.27% | 0.0% |
| 2 | MORGAN STANLEY#2 · 508,773 sh | 508,773 | $4.3M | <0.01% | +2.5% |
| 3 | Focus Partners Wealth#3 · 504,243 sh | 504,243 | $4.3M | <0.01% | -12.0% |
| 4 | GAMCO INVESTORS, ET AL#4 · 441,931 sh | 441,931 | $3.7M | 0.03% | 0.0% |
| 5 | Bulldog Investors, LLP#5 · 409,748 sh | 409,748 | $3.5M | 0.76% | 0.0% |
| 6 | BANK OF AMERICA#6 · 161,993 sh | 161,993 | $1.4M | <0.01% | -3.7% |
| 7 | Ancora Advisors#7 · 148,158 sh | 148,158 | $1.3M | 0.02% | -15.2% |
| 8 | NewEdge Advisors#8 · 129,080 sh | 129,080 | $1.1M | <0.01% | +0.5% |
| 9 | CSS#9 · 116,663 sh | 116,663 | $988.1K | 0.04% | 0.0% |
| 10 | ENVESTNET ASSET MANAGEMENT#10 · 93,257 sh | 93,257 | $789.9K | <0.01% | -0.7% |
| 11 | PARK AVENUE SECURITIES#11 · 82,604 sh | 82,604 | $700.0K | — | New |
| 12 | BLUE BELL PRIVATE WEALTH MANAGEMENT#12 · 62,477 sh | 62,477 | $529.2K | 0.07% | +15.1% |
| 13 | Atlas Wealth#13 · 55,366 sh | 55,366 | $468.9K | 0.07% | New |
| 14 | Matisse Capital#14 · 28,072 sh | 28,072 | $237.8K | 0.10% | +65.6% |
| 15 | EVOLVE PRIVATE WEALTH#15 · 18,871 sh | 18,871 | $159.8K | <0.01% | -2.6% |
| 16 | DECISION INVESTMENTS#16 · 15,100 sh | 15,100 | $127.9K | — | -0.7% |
| 17 | SUSQUEHANNA INTERNATIONAL GROUP, LLP#17 · 14,251 sh | 14,251 | $120.7K | 0.00% | New |
| 18 | INTEGRATED CAPITAL MANAGEMENT#18 · 12,908 sh | 12,908 | $109.3K | — | -6.7% |
| 19 | GatePass Capital#19 · 12,500 sh | 12,500 | $105.9K | 0.04% | -76.5% |
| 20 | Permanent Capital Management#20 · 10,131 sh | 10,131 | $85.8K | 0.01% | New |
| 21 | WELLS FARGO & COMPANY#21 · 10,080 sh | 10,080 | $85.4K | 0.00% | -10.6% |
| 22 | MRP Capital Investments#22 · 7,500 sh | 7,500 | $63.5K | 0.05% | 0.0% |
| 23 | OSAIC#23 · 5,242 sh | 5,242 | $44.4K | <0.01% | +26.6% |
| 24 | MARK SHEPTOFF FINANCIAL PLANNING#24 · 2,000 sh | 2,000 | $16.9K | <0.01% | 0.0% |
| 25 | CREATIVE FINANCIAL DESIGNS#25 · 1,717 sh | 1,717 | $14.5K | <0.01% | 0.0% |
| 26 | McMillan Office#26 · 1,000 sh | 1,000 | $8.5K | <0.01% | 0.0% |
| 27 | Integrated Wealth Concepts#27 · 389 sh | 389 | $3.3K | 0.00% | New |
| 28 | HIGHLINE WEALTH PARTNERS#28 · 325 sh | 325 | $2.8K | — | 0.0% |
| 29 | TD Waterhouse Canada#29 · 300 sh | 300 | $2.5K | — | 0.0% |
| 30 | UBS Group AG#30 · 217 sh | 217 | $1.8K | 0.00% | 0.0% |
| 31 | BARRETT & COMPANY#31 · 200 sh | 200 | $1.7K | — | 0.0% |
| 32 | Kilter Group#32 · 1 sh | 1 | $8.00 | 0.00% | -99.9% |
Funds that sold out of GDL in Q2 2026 (4)
Held GDL at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.
| Institution | Shares sold | Value in Q1 2026 |
|---|---|---|
| Independent Advisor Alliance384,932 sh | 384,932 | $3.2M |
| ZAZOVE ASSOCIATES120,522 sh | 120,522 | $1.0M |
| Private Advisor Group14,970 sh | 14,970 | $124.7K |
| Closed-End Fund Advisors11,368 sh | 11,368 | $94.7K |
Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.