When did GAMCO implement its succession plan related to The GDL Fund (GDL)?

GAMCO implemented its succession plan on March 22, 2026, shortly after Mario J. Gabelli’s medical incident. Under this plan, Christopher J. Marangi was named President of GAMCO, formalizing leadership responsibilities that support ongoing operations for the Fund’s adviser.

Gabelli health update: The GDL Fund (NYSE: GDL) sets interim leadership

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

The GDL Fund reports that longtime trustee and Chief Investment Officer Mario J. Gabelli was hospitalized on March 19, 2026 after a medical incident and is recovering, though his return date remains undetermined. GAMCO’s long-standing succession plan was activated on March 22, 2026, naming Christopher J. Marangi as President of GAMCO. Day-to-day operations of GAMCO will continue to be led by co-CEO Douglas R. Jamieson and Mr. Marangi, while portfolio manager Willis Brucker remains responsible for the Fund’s daily portfolio management during Mr. Gabelli’s absence.

Positive

None.

Negative

Health-related uncertainty for key investment figure: Mario J. Gabelli, the Fund’s Trustee and Chief Investment Officer, is recovering from a medical incident and his return timeline remains undetermined, creating potential key-person and leadership continuity risk.

Insights

Gabelli’s illness introduces key-person risk, partly offset by an existing succession plan.

The disclosure explains that Mario J. Gabelli, central to investment leadership, suffered a medical incident on March 19, 2026 and is recovering, but with an undetermined return date. For a fund built around his value-investing reputation, this introduces leadership continuity risk.

However, GAMCO activated a succession plan in place for several years, appointing Christopher J. Marangi as President and keeping co-CEO Douglas R. Jamieson in daily operational leadership. Willis Brucker continues day-to-day portfolio management, suggesting an effort to maintain investment process stability despite Gabelli’s temporary absence.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Medical incident date: March 19, 2026 Succession plan implementation date: March 22, 2026 Current report date: May 7, 2026

3 metrics

Medical incident date March 19, 2026 Date of Mario J. Gabelli’s medical incident in New York

Succession plan implementation date March 22, 2026 Date GAMCO implemented its succession plan and named Marangi President

Current report date May 7, 2026 Date of the current report by The GDL Fund

Key Terms

succession plan, Registration Statement, portfolio manager, emerging growth company, +1 more

5 terms

succession plan financial

"implemented GAMCO’s succession plan that has been in place for several years"

Registration Statement regulatory

"The Fund incorporates the information included in this Item 8.01 by reference into its effective Registration Statement"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

portfolio manager financial

"Willis Brucker, portfolio manager of the Fund, will continue to be responsible"

A portfolio manager is the professional who picks and oversees a collection of investments—such as stocks, bonds, and cash—on behalf of individuals or institutions. They make decisions about which assets to buy, hold or sell and how much risk to take, like a ship captain steering through changing weather; their choices shape an investor’s potential returns, losses and the steadiness of the investment experience.

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Section 13 or 15(d) of the Securities Exchange Act of 1934 regulatory

"Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934"

Understanding 8-K Material Events →

05/07/2026 - 05:08 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 7, 2026

The GDL Fund

(Exact name of registrant as specified in its charter)

Delaware

811-21969

20-8195443

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

One Corporate Center, Rye, New York		10580
(Address of principal executive offices)		(Zip Code)

Registrants telephone number, including area code (800) 422-3554

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares of Beneficial Interest		GDL		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events

As previously announced by GAMCO Investors, Inc. (“GAMCO”) on March 23, 2026, Mario J. Gabelli (“Mr. Gabelli”), Trustee, Chairman and Chief Investment Officer of the Fund, and Chairman, Co-Chief Executive Officer, and Chief Investment Officer – Value Portfolios of GAMCO Investors, Inc. and Chief Investment Officer – Value Portfolios of Gabelli Funds, LLC and GAMCO Asset Management, Inc., was admitted to the hospital for observation and testing after a medical incident March 19, 2026, following a busy day of events around New York City. His condition is improving and he is on the road to recovery, but the timeline for his return is not yet known.

On March 22, 2026, GAMCO, the parent company of the Fund’s adviser, Gabelli Funds, LLC, implemented GAMCO’s succession plan that has been in place for several years. In accordance with that plan, Christopher J. Marangi was named President of GAMCO on March 22, 2026.

While the timeline for Mario J. Gabelli’s return remains undetermined, the day-to-day operations of the Company will continue to be led by co-CEO, Douglas R. Jamieson, and Christopher J. Marangi.

Willis Brucker, portfolio manager of the Fund, will continue to be responsible for the day to day management of the Fund’s portfolio during Mr. Gabelli’s absence.

The Fund incorporates the information included in this Item 8.01 by reference into its effective Registration Statement.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The GDL Fund

Date: May 7, 2026	By:	/s/ John C. Ball
	Name:	John C. Ball
	Title:	President and Treasurer

Source: View Original Filing on SEC EDGAR

FAQ

What did The GDL Fund (GDL) disclose about Mario J. Gabelli’s health?

The GDL Fund disclosed that Mario J. Gabelli was admitted to the hospital for observation and testing after a medical incident on March 19, 2026. His condition is improving and he is on the road to recovery, but his return timeline remains undetermined.

How is leadership at GAMCO and The GDL Fund structured during Gabelli’s absence?

During Mario J. Gabelli’s absence, GAMCO’s day-to-day operations will continue to be led by co-CEO Douglas R. Jamieson and Christopher J. Marangi. Marangi has been named President of GAMCO under a succession plan that has been in place for several years.

Who manages The GDL Fund’s portfolio while Mario J. Gabelli is away?

The filing states that portfolio manager Willis Brucker will continue to handle the day-to-day management of The GDL Fund’s portfolio during Mario J. Gabelli’s absence. This arrangement is intended to keep the Fund’s investment activities operating normally.

Does The GDL Fund’s update affect its existing Registration Statement?

Yes. The GDL Fund states that it incorporates the information in this current report by reference into its effective Registration Statement. This means the leadership and health updates are formally included in the disclosure framework tied to the Fund’s registered offering documents.

Filing Exhibits & Attachments

3 documents