Morgan Stanley updates 8.6% GDV stake in Gabelli Dividend & Income Trust (GDV)

Rhea-AI Filing Summary

Morgan Stanley and its affiliate Morgan Stanley Smith Barney LLC filed an amended Schedule 13G reporting a significant position in Gabelli Dividend & Income Trust common stock as of 12/31/2025. Morgan Stanley reports beneficial ownership of 7,617,018 shares, representing 8.6% of the outstanding common stock, with shared voting and dispositive power.

The filing states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the trust. It also notes that the disclosure reflects only certain Morgan Stanley reporting units, with other units disaggregated under SEC guidance.

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Accepted by SEC EDGAR 02/11/2026 - 12:43 PM Learn about SEC filing dates

FAQ

What does Morgan Stanley disclose in its latest Schedule 13G/A for GDV?

Morgan Stanley discloses beneficial ownership of Gabelli Dividend & Income Trust common stock. It reports 7,617,018 shares, equal to 8.6% of the class as of December 31, 2025, held through certain reporting units in the ordinary course of business, without a control-seeking purpose.

How large is Morgan Stanley’s reported ownership stake in GDV?

Morgan Stanley reports beneficial ownership of 7,617,018 Gabelli Dividend & Income Trust common shares. This stake represents 8.6% of the outstanding common stock as disclosed in the Schedule 13G/A, indicating a sizeable institutional position but without an expressed intent to influence control.

Which entities are reporting ownership in Gabelli Dividend & Income Trust (GDV)?

The filing lists two reporting persons: Morgan Stanley and Morgan Stanley Smith Barney LLC, both organized in Delaware. They report shared voting and dispositive power over Gabelli Dividend & Income Trust common shares through certain Morgan Stanley operating units covered by the Schedule 13G/A.

Does Morgan Stanley’s GDV position aim to change control of the trust?

The filing states the securities were acquired and are held in the ordinary course of business. It explicitly certifies they were not acquired and are not held to change or influence control of Gabelli Dividend & Income Trust or in connection with any such transaction.

What type of SEC filing is this for Gabelli Dividend & Income Trust (GDV)?

This is an Amendment No. 16 to a Schedule 13G, a beneficial ownership report. It updates Morgan Stanley’s and Morgan Stanley Smith Barney LLC’s holdings and related ownership information in Gabelli Dividend & Income Trust common stock as of December 31, 2025.

Who signed the Morgan Stanley Schedule 13G/A related to GDV?

The Schedule 13G/A is signed by Chris O’Hara as Authorized Signatory for Morgan Stanley and David Galasso as Authorized Signatory for Morgan Stanley Smith Barney LLC, each certifying the accuracy and completeness of the beneficial ownership information reported.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 16)

GABELLI DIVIDEND & INCOME TRUST

(Name of Issuer)

Common Stock

(Title of Class of Securities)

36242H104

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 36242H104

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 15,979.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,617,018.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,617,018.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 36242H104

1

Names of Reporting Persons

Morgan Stanley Smith Barney LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 7,601,041.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,601,041.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

BD, IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GABELLI DIVIDEND & INCOME TRUST
(b)	Address of issuer's principal executive offices: ONE CORPORATE CENTER, RYE, NY, 10580
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Smith Barney LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 36242H104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/11/2026

Morgan Stanley Smith Barney LLC

Signature:	David Galasso
Name/Title:	Authorized Signatory, Morgan Stanley Smith Barney LLC
Date:	02/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).