<SEC-DOCUMENT>0000807249-13-000286.txt : 20131017
<SEC-HEADER>0000807249-13-000286.hdr.sgml : 20131017
<ACCEPTANCE-DATETIME>20131017165858
ACCESSION NUMBER:		0000807249-13-000286
CONFORMED SUBMISSION TYPE:	SC 13D
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20131017
DATE AS OF CHANGE:		20131017

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GDL FUND
		CENTRAL INDEX KEY:			0001378701
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-82419
		FILM NUMBER:		131157028

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		914-921-5100

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Global Deal Fund
		DATE OF NAME CHANGE:	20061019

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MJG 1999 DESCENDANTS TRUST
		CENTRAL INDEX KEY:			0001589219
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D

	BUSINESS ADDRESS:	
		STREET 1:		1 CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		914-921-5114

	MAIL ADDRESS:	
		STREET 1:		1 CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D
<SEQUENCE>1
<FILENAME>gdlbtrust_00.htm
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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington, D.C. 20549</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SCHEDULE 13D</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Under the Securities Exchange Act of 1934</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The GDL Fund</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Name of Issuer)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Series&#160;B Cumulative Puttable and Callable Preferred Shares ("Series B")</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Title of Class of Securities)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>361570302</u></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>(CUSIP Number)</u></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">John Gabelli</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">One Corporate Center</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Rye, New York 10580-1435</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(914) 921-5000</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">_____________<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>October 8, 2013</u></font>____________</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(Date of Event which Requires Filing of this Statement)</div>

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<div style="TEXT-ALIGN: justify; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of &#167;&#167; 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box &#160;.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;CUSIP No. </font>361570302</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Names of reporting persons</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">I.R.S. identification nos. of above persons (entities only)</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MJG 1999 Descendants Trust</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Check the appropriate box if a member of a group (SEE INSTRUCTIONS)<font style="FONT-SIZE: 6pt" id="TRGRRTFtoHTMLTab">&#160;&#160;</font>(a)</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 360pt; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(b)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sec use only</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Source of funds (SEE INSTRUCTIONS)</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;See Item 3</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Citizenship or place of organization</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;New York</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number Of</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shares</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Beneficially</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Owned</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">By Each</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reporting</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Person</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">With</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sole voting power</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">190,000 (Item 5)</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shared voting power</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">None</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Sole dispositive power</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">190,000 (Item 5)</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:10</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">:</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shared dispositive power</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">None</div>
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<div>&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Aggregate amount beneficially owned by each reporting person</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">190,000 (Item 5)</div>
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<div>&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Check box if the aggregate amount in row (11) excludes certain shares</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(SEE INSTRUCTIONS)</div>
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<div>&#160;</div>

<div>&#160;</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percent of class represented by amount in row (11)</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">6.97%</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">14</div>

<div>&#160;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Type of reporting person (SEE INSTRUCTIONS)</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;OO</div>
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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 8pt" id="DSPFPageNumberArea">2</div>

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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item 1.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Security and Issuer</u></font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The class of equity securities to which this statement on Schedule 13D relates is the Series B Preferred Shares, of The GDL Fund (the "Issuer"), a Delaware trust with principal offices located at One Corporate Center, Rye, New York 10580.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item 2.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Identity and Background</u></font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a) This statement is being filed by MJG 1999 Descendants Trust (the "Reporting Person").</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b) The Reporting Person's business address is One Corporate Center, Rye, New York 10580.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c) &#160;The Reporting Person, an irrevocable trust, was created in accordance with the laws of the State of Delaware in 1999. John Gabelli is the Trustee and Mario J. Gabelli is the Settlor.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(d) &#160;During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(e) &#160;During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which the Reporting Person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item 3.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Source and Amount of Funds or Other Consideration</u></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><br>
</font> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Reporting Persons used an aggregate of approximately $9,534,200 to purchase the Securities reported as beneficially owned in Item 5.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item 4.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Purpose of Transaction</u></font></div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>The Reporting Person purchased the Securities reported in Item 5 in a cross trade.<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font>The Reporting Person has purchased and holds the Securities reported by it for investment for an account for which it has sole investment and voting power.</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item 5.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Interest In Securities Of The Issuer</u></font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a) The aggregate number of Securities to which this Schedule 13D relates is 190,000 Series B Shares representing 6.97% of the 2,724,641 shares outstanding as reported by the Issuer as of September 23, 2013. The Reporting Persons beneficially own those Securities as follows:</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Shares of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Series B Preferred</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">% of Series</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">B Preferred</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">190,000</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">6.97%</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b) The Reporting Person has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, for its own benefit.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 72pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c) Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by the Reporting Person is set forth on Schedule II annexed hereto and incorporated herein by reference.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">(e) Not applicable.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>Signature</u></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 36pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">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.</div>

<div style="TEXT-ALIGN: justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dated:</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">October 17, 2013</font></div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 207.75pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">MJG 1999 DESCENDANTS TRUST</div>

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<div style="TEXT-ALIGN: justify; TEXT-INDENT: 216pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">By:</font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><u>/s/ John Gabelli</u></font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 216pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;John Gabelli</div>

<div style="TEXT-ALIGN: justify; TEXT-INDENT: 216pt; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;Trustee</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; MARGIN-LEFT: 216pt; FONT-SIZE: 10pt">&#160;SCHEDULE II</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;INFORMATION WITH RESPECT TO</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;SHARES PURCHASED &#160; &#160; &#160; &#160;AVERAGE</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;DATE &#160; &#160; &#160; &#160; &#160; &#160;SOLD(-) &#160; &#160; &#160; &#160; &#160; &#160; PRICE(2)</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;THE GDL FUND &#8211; SERIES B PREFERRED</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;MJG 1999 DESCENDANTS TRUST</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10/08/13 &#160; &#160; &#160; &#160; &#160;190,000 &#160; &#160; &#160; &#160; &#160; 50.1800*</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;ON THE NYSE.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">(2) PRICE EXCLUDES COMMISSION.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: Courier New; FONT-SIZE: 10pt">(*) THE SHARES REPORTED WERE PURCHASED IN A CROSS TRADE.</div>

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