Bancroft Fund (BCV) Form 4 shows 1,000-share sale at $23.4265

Rhea-AI Filing Summary

Mario J. Gabelli filed a Form 4 reporting the sale of 1,000 Bancroft Fund Ltd (BCV) common shares on 10/20/2025 at a price of $23.4265 per share.

Following the reported transaction, the filing lists 131,000 shares held directly and 27,000 shares held indirectly through Associated Capital Group, Inc. (ACG). The note states Mr. Gabelli is Executive Chair and controlling shareholder of ACG and disclaims beneficial ownership of shares held by ACG beyond his indirect pecuniary interest. The form identifies him as a Director and “Control Person of Adviser” to the issuer.

Insider Trade Summary

Net Seller: 1,000 shares ($23,427)

Net Sell 2 txns

Insider GABELLI MARIO J

Role Director

Sold 1,000 shs ($23K)

Type	Security	Shares	Price	Value
Sale	Common Shares	1,000	$23.4265	$23K
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 27,000 shares (Indirect, Associated Capital Group, Inc.); Common Shares — 131,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GABELLI MARIO J

(Last) (First) (Middle)

C/O GAMCO INVESTORS, INC.

ONE CORPORATE CENTER

(Street)

RYE NY 10580

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BANCROFT FUND LTD [ BCV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Control Person of Adviser

3. Date of Earliest Transaction (Month/Day/Year)
10/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	10/20/2025		S		1,000	D	$23.4265	27,000	I	Associated Capital Group, Inc.(1)
Common Shares								131,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares reported reflect the total shares owned by Associated Capital Group, Inc. (ACG). Mario J. Gabelli is the Executive Chair and controlling shareholder of ACG. Mr. Gabelli has less than a 100% interest in ACG and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

	Peter D. Goldstein as Attorney-in-Fact for Mario J. Gabelli	10/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did BCV insider Mario J. Gabelli report on Form 4?

A sale of 1,000 BCV common shares on 10/20/2025 at $23.4265 per share.

What are Mario J. Gabelli’s reported BCV holdings after the transaction?

The filing lists 131,000 shares direct and 27,000 shares indirect via ACG.

What roles does Mario J. Gabelli have in relation to BCV?

He is listed as a Director and “Control Person of Adviser.”

How are the indirect BCV shares held?

Indirect holdings are through Associated Capital Group, Inc. (ACG).

Does the filing include a beneficial ownership disclaimer?

Yes. Mr. Gabelli disclaims beneficial ownership of ACG-held shares beyond his indirect pecuniary interest.

What is the issuer’s name and ticker?

Bancroft Fund Ltd, ticker BCV.