Mario Gabelli (GAB) discloses Series Q preferred share buys in Form 4

Rhea-AI Filing Summary

Mario J. Gabelli, a director, 10% owner, and control person of the adviser to Gabelli Equity Trust Inc., reported significant purchases of the trust’s Series Q Cumulative Preferred Shares on 12/26/2025. The filing shows a purchase of 500,000 Series Q preferred shares at $10 per share held indirectly through GAMCO Investors, Inc., bringing GAMCO’s reported beneficially owned amount in this line to 500,000 shares.

On the same date, the report also lists a separate purchase of 167,500 Series Q preferred shares at $10 per share held directly, with 167,500 shares shown as beneficially owned following that transaction. The explanatory note clarifies that the totals reflect shares owned by GAMCO, and that Mr. Gabelli, as controlling shareholder of GAMCO and Chief Investment Officer of Gabelli Funds, LLC, disclaims beneficial ownership of shares held by GAMCO beyond his indirect pecuniary interest.

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

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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
GABELLI EQUITY TRUST INC [ GAB.Q ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/26/2025

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
Series Q Cumulative Preferred Shares	12/26/2025		P		500,000	A	$10	500,000	I	GAMCO Investors, Inc.(1)
Series Q Cumulative Preferred Shares	12/26/2025		P		167,500	A	$10	167,500	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 GAMCO Investors, Inc. (GAMCO). Mario J. Gabelli is the Chairman, Chief Executive Officer, controlling shareholder of GAMCO and Chief Investment Officer of Value Portfolios of Gabelli Funds, LLC (the Adviser). Mr. Gabelli has less than a 100% interest in GAMCO and disclaims beneficial ownership of the shares held by it which are in excess of his indirect pecuniary interest.

	Douglas R. Jamieson as Attorney-in-Fact for Mario J. Gabelli	12/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Mario J. Gabelli report for GAB on 12/26/2025?

The report shows that Mario J. Gabelli was involved with purchases of Series Q Cumulative Preferred Shares of Gabelli Equity Trust Inc. (GAB) on 12/26/2025. One transaction lists 500,000 shares bought at $10 per share held indirectly through GAMCO Investors, Inc., and another lists 167,500 shares bought at $10 per share held directly.

How many Gabelli Equity Trust Series Q preferred shares are shown as indirectly owned after the transaction?

After the reported transaction on 12/26/2025, the filing shows 500,000 Series Q Cumulative Preferred Shares of Gabelli Equity Trust Inc. as beneficially owned indirectly through GAMCO Investors, Inc..

How many Gabelli Equity Trust Series Q preferred shares are shown as directly owned after the transaction?

The Form 4 indicates that following the 12/26/2025 purchase, 167,500 Series Q Cumulative Preferred Shares of Gabelli Equity Trust Inc. were beneficially owned directly by the reporting person.

What is Mario J. Gabelli’s relationship to Gabelli Equity Trust Inc. (GAB)?

The filing identifies Mario J. Gabelli as a Director, a 10% Owner, and as an Other related party described as a Control Person of Adviser to Gabelli Equity Trust Inc. (GAB).

At what price were the GAB Series Q preferred shares purchased in this Form 4?

Both reported transactions in Series Q Cumulative Preferred Shares of Gabelli Equity Trust Inc. on 12/26/2025 show a purchase price of $10 per share.

How does the Form 4 describe Mario J. Gabelli’s interest in GAMCO Investors, Inc.?

The explanation states that the shares reported reflect the total owned by GAMCO Investors, Inc. and that Mario J. Gabelli is Chairman, Chief Executive Officer, and controlling shareholder of GAMCO and Chief Investment Officer of Gabelli Funds, LLC. It notes that he has less than a 100% interest in GAMCO and disclaims beneficial ownership of shares held by GAMCO beyond his indirect pecuniary interest.