<SEC-DOCUMENT>0001145549-24-016093.txt : 20240314
<SEC-HEADER>0001145549-24-016093.hdr.sgml : 20240314
<ACCEPTANCE-DATETIME>20240314132506
ACCESSION NUMBER:		0001145549-24-016093
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240314
DATE AS OF CHANGE:		20240314
EFFECTIVENESS DATE:		20240314

FILER:

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

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21969
		FILM NUMBER:		24748928

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns="http://www.sec.gov/edgar/ncen">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001378701</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-2</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2023-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>GDL Fund</registrantFullName>
      <investmentCompFileNo>811-21969</investmentCompFileNo>
      <registrantCik>0001378701</registrantCik>
      <registrantLei>5493000XKGL8ZPN99479</registrantLei>
      <registrantstreet1>One Corporate Center</registrantstreet1>
      <registrantcity>Rye</registrantcity>
      <registrantzipCode>10580-1422</registrantzipCode>
      <registrantstate>US-NY</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>1-800-422-3554</registrantphoneNumber>
      <websites>
        <website webpage="http://gabelli.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>BNY Mellon Investment Servicing (US) Inc.</officeName>
          <officeAddress1>500 Ross Street</officeAddress1>
          <officeCity>Pittsburgh</officeCity>
          <officeStateCountry officeState="US-PA" officeCountry="US"/>
          <officeRecordsZipCode>15262</officeRecordsZipCode>
          <officePhone>412-234-5000</officePhone>
          <booksRecordsDesc>Accounting</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>The Bank of New York Mellon</officeName>
          <officeAddress1>240 Greenwich Street</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>10286</officeRecordsZipCode>
          <officePhone>212-495-1784</officePhone>
          <booksRecordsDesc>Custody</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Gabelli Funds, LLC</officeName>
          <officeAddress1>One Corporate Center</officeAddress1>
          <officeCity>Rye</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>10580-1422</officeRecordsZipCode>
          <officePhone>914-921-5100</officePhone>
          <booksRecordsDesc>Accounting</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>American Stock Transfer &amp; Trust Company, LLC</officeName>
          <officeAddress1>6201 15th Avenue</officeAddress1>
          <officeCity>Brooklyn</officeCity>
          <officeStateCountry officeState="US-NY" officeCountry="US"/>
          <officeRecordsZipCode>11219</officeRecordsZipCode>
          <officePhone>800-937-5449</officePhone>
          <booksRecordsDesc>Transfer Agent</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="Gabelli Fund Complex"/>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Agnes Mullady</directorName>
          <crdNumber>001732384</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-04700"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-02151"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Anthony S. Colavita</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-05502"/>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-23395"/>
            <fileNumberInfo fileNumber="811-21761"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>James P. Conn</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-04700"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-21761"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-22041"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Leslie F. Foley</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-23568"/>
            <fileNumberInfo fileNumber="811-04700"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-04719"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Michael J. Melarkey</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21761"/>
            <fileNumberInfo fileNumber="811-04656"/>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-23395"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-23568"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Salvatore J. Zizza</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-04719"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-08560"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-08518"/>
            <fileNumberInfo fileNumber="811-21529"/>
            <fileNumberInfo fileNumber="811-07896"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-21698"/>
            <fileNumberInfo fileNumber="811-22216"/>
            <fileNumberInfo fileNumber="811-04700"/>
            <fileNumberInfo fileNumber="811-05715"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-06367"/>
            <fileNumberInfo fileNumber="811-22041"/>
            <fileNumberInfo fileNumber="811-23568"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Mario J. Gabelli</directorName>
          <crdNumber>000216136</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-02151"/>
            <fileNumberInfo fileNumber="811-23395"/>
            <fileNumberInfo fileNumber="811-22884"/>
            <fileNumberInfo fileNumber="811-05848"/>
            <fileNumberInfo fileNumber="811-09243"/>
            <fileNumberInfo fileNumber="811-09397"/>
            <fileNumberInfo fileNumber="811-22026"/>
            <fileNumberInfo fileNumber="811-06687"/>
            <fileNumberInfo fileNumber="811-07326"/>
            <fileNumberInfo fileNumber="811-08560"/>
            <fileNumberInfo fileNumber="811-22021"/>
            <fileNumberInfo fileNumber="811-04873"/>
            <fileNumberInfo fileNumber="811-08518"/>
            <fileNumberInfo fileNumber="811-07896"/>
            <fileNumberInfo fileNumber="811-08476"/>
            <fileNumberInfo fileNumber="811-04700"/>
            <fileNumberInfo fileNumber="811-04494"/>
            <fileNumberInfo fileNumber="811-06367"/>
            <fileNumberInfo fileNumber="811-21423"/>
            <fileNumberInfo fileNumber="811-07644"/>
            <fileNumberInfo fileNumber="811-09377"/>
            <fileNumberInfo fileNumber="811-04656"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Richard J. Walz</ccoName>
          <crdNumber>001392836</crdNumber>
          <ccoStreet1>One Corporate Center</ccoStreet1>
          <ccoCity>Rye</ccoCity>
          <ccoStateCountry ccoState="US-NY" ccoCountry="US"/>
          <ccoZipCode>10580</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-25070"/>
      </releaseNumbers>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Ernst &amp; Young LLP</publicAccountantName>
          <pcaobNumber>42</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-DE" publicAccountantCountry="US"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <paymentDividendSeries isPaymentDividend="Y"/>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>GDL Fund</mgmtInvFundName>
        <mgmtInvLei>5493000XKGL8ZPN99479</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="The GDL Fund" sharesOutstandingClassId="C000000000" sharesOutstandingTickerSymbol="GDL"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Gabelli Funds, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-37706</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000104949</investmentAdviserCrdNo>
            <investmentAdviserLei>549300JDTNRQK8NMTG03</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>American Stock Transfer &amp; Trust Company, LLC</transferAgentName>
            <transferAgentFileNo>084-00416</transferAgentFileNo>
            <transferAgentLei>254900TS5EWP83BEOU02</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-NY" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>The Bank of New York Mellon</custodianName>
            <custodianLei>HPFHU0OQ28E4N0NFVK49</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>American Stock Transfer &amp; Trust Company, LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>254900TS5EWP83BEOU02</shareholderServiceAgentLei>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-NY" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Gabelli Funds, LLC</adminName>
            <adminLei>549300JDTNRQK8NMTG03</adminLei>
            <adminStateCountry adminState="US-NY" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>BNY Mellon Investment Servicing (US) Inc.</adminName>
            <adminLei>549300CFZQLI9QMJ1Z03</adminLei>
            <adminStateCountry adminState="US-PA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>G.Research, LLC</brokerDealerName>
            <brokerDealerFileNo>008-21373</brokerDealerFileNo>
            <brokerDealerCrdNo>000007353</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BERENBERG BANK</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>5299000WI2BXRB3KKL92</brokerLei>
            <brokerCountry>DE</brokerCountry>
            <grossCommission>2386.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>PIPER SANDLER &amp; CO.</brokerName>
            <brokerFileNo>008-15204</brokerFileNo>
            <brokerCrdNo>000000665</brokerCrdNo>
            <brokerLei>549300GRQCWQ3XGH0H10</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>4062.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Raymond James &amp; Associates, Inc.</brokerName>
            <brokerFileNo>008-10999</brokerFileNo>
            <brokerCrdNo>000000705</brokerCrdNo>
            <brokerLei>U4ONQX15J3RO8XCKE979</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>2570.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>TD SECURITIES (USA) LLC</brokerName>
            <brokerFileNo>008-36747</brokerFileNo>
            <brokerCrdNo>000018476</brokerCrdNo>
            <brokerLei>SUVUFHICNZMP2WKHG940</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>37871.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MERRILL LYNCH INTERNATIONAL</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>GGDZP1UYGU9STUHRDP48</brokerLei>
            <brokerCountry>GB</brokerCountry>
            <grossCommission>3901.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>EVERCORE GROUP L.L.C.</brokerName>
            <brokerFileNo>008-49830</brokerFileNo>
            <brokerCrdNo>000042405</brokerCrdNo>
            <brokerLei>5493008F0LRLS5N8LZ81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3870.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MORGAN STANLEY &amp; CO. LLC</brokerName>
            <brokerFileNo>008-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>15878.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UBS Securities LLC</brokerName>
            <brokerFileNo>008-22651</brokerFileNo>
            <brokerCrdNo>000007654</brokerCrdNo>
            <brokerLei>T6FIZBDPKLYJKFCRVK44</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8041.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P. Morgan Securities LLC</brokerName>
            <brokerFileNo>008-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8331.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL, INC.</brokerName>
            <brokerFileNo>008-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2803.000000000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>158177.000000000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>DIGITALBRIDGE GROUP, INC.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300XG87L902AGBO89</principalLei>
            <principalStateCountry principalState="US-FL" principalCountry="US"/>
            <principalTotalPurchaseSale>14576800.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CVS HEALTH CORPORATION</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>549300EJG376EN5NQE29</principalLei>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>7320000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Amgen Inc.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>62QBXGPJ34PQ72Z12S66</principalLei>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>8294800.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>ABBOTT LABORATORIES</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>HQD377W2YR662HK5JX27</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>6440000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>PFIZER INC.</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>765LHXWGK1KXCLTFYQ30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7557000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Nesbitt Burns Securities Ltd.</principalName>
            <principalFileNo>008-50538</principalFileNo>
            <principalCrdNo>000044057</principalCrdNo>
            <principalLei>54JEJPF5RL5INKZRDO43</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>96014789.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Daiwa Capital Markets America, Inc.</principalName>
            <principalFileNo>008-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>274313878.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>NOMURA SECURITIES INTERNATIONAL, INC.</principalName>
            <principalFileNo>008-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>136254868.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>008-00129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>35872374.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL, INC.</principalName>
            <principalFileNo>008-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>62437773.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>834308579.000000000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>189457921.000000000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.000000000000</dailyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>GDL Fund</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GDL"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>5.20% Series E Cumulative Term Preferred Shares</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GDL(PrE)"/>
          </commonStocks>
        </securityRelatedItem>
        <securityRelatedItem>
          <description>Preferred stock</description>
          <securityClassTitle>4.00% Series C Cumulative Puttable &amp; Callable Preferred Shares</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="GDL(PrC)"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <repurchaseSecurities isRepurchaseSecurity="Y">
        <repurchaseSecurityType>Common stock</repurchaseSecurityType>
      </repurchaseSecurities>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>1.550000000000</managementFee>
      <netOperatingExpenses>4.650000000000</netOperatingExpenses>
      <marketPricePerShare>8.040000000000</marketPricePerShare>
      <netAssetValuePerShare>10.180000000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <exchangeSeriesInfo/>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isInstDefiningRights>true</isInstDefiningRights>
    </attachmentsTab>
    <signature registrantSignedName="GDL Fund" signedDate="2024-03-13" signature="John C. Ball" title="President and Treasurer"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>2
<FILENAME>internalcontrolrpt_gdl.htm
<TEXT>
<html>
    <head>
        <title>PDFtoHTML Conversion Output</title>
    </head>
    <body style="margin-top: 0px;margin-left: 0px;">
        <div style="position:relative; overflow: hidden;margin: 0px;padding: 0px;width: 816px;height: 1056px;">
        <div style="position: absolute; top: 0px; left: 0px; z-index: -1; width: 816px; height: 1056px; padding-left: 0px;"> &#160;</div>
        <div style="clear:both;float:none;height:1px;margin:0px;padding:0px;overflow:hidden;">&#160;</div>
        <p style="padding-left: 237px;margin-top: 116px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #151515;">Report of Independent Registered Public Accounting Firm</p>
        <p style="padding-left: 89px;margin-top: 11px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #151515;">To the Shareholders and</p>
        <p style="padding-left: 89px;margin-top: 1px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #0f0f0f;">Board of Trustees of The GDL Fund</p>
        <p style="text-align: justify;padding-left: 88px;padding-right: 102px;margin-top: 12px;margin-bottom: 0px;text-indent: 1px;font: 13px/15px 'Arial';color: #141414;">In planning and performing our audit of the financial statements of The GDL Fund (the "Fund") as of and for the year ended December 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund's internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund's internal control over financial reporting. Accordingly, we express no such opinion.</p>
        <p style="text-align: justify;padding-left: 89px;padding-right: 101px;margin-top: 9px;margin-bottom: 0px;font: 13px/15px 'Arial';color: #121212;">The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates andjudgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of recordsthat, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and trustees of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.</p>
        <p style="text-align: justify;padding-left: 89px;padding-right: 101px;margin-top: 14px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #131313;">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.</p>
        <p style="text-align: justify;padding-left: 89px;padding-right: 95px;margin-top: 10px;margin-bottom: 0px;font: 12px/15px 'Arial';color: #121212;">A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prrvent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficie, ,cies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund's annual or interim financial statements will not be prevented or detected on a timely basis.</p>
        <p style="text-align: justify;padding-left: 89px;padding-right: 102px;margin-top: 12px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #121212;">Our consideration of the Fund's internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund's internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2023.</p>
        <p style="text-align: justify;padding-left: 90px;padding-right: 102px;margin-top: 7px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #141414;">This report is intended solely for the information and use of management and the Board of Trustees of The GDL Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.</p>
        <p style="padding-left: 90px;margin-top: 10px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #141414;">/s/ Ernst &amp; Young LLP</p>
        <p style="padding-left: 90px;margin-top: 17px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #111111;">New York, New York</p>
        <p style="padding-left: 89px;margin-top: 2px;margin-bottom: 0px;font: 13px/16px 'Arial';color: #111111;">February 28, 2024</p>
        </div>
    </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INST DEFINING RIGHTS
<SEQUENCE>3
<FILENAME>statofpref_gdl.htm
<TEXT>
<html>
    <head>
        <title>PDFtoHTML Conversion Output</title>
    </head>
    <body style="margin-top: 0px;margin-left: 0px;">
        <div style="position:relative; overflow: hidden;margin: 97px 0px 47px 96px;padding: 0px;width: 720px;">
        <div style="margin: 0px;padding: 0px;width: 720px;overflow: hidden;">
        <p style="padding-left: 257px;margin: 0px;font: bold 15px/17px 'Times New Roman';">THE GDL FUND</p>
        <p style="padding-left: 198px;margin-top: 15px;margin-bottom: 0px;font: bold 15px/17px 'Times New Roman';">STATEMENT OF PREFERENCES</p>
        <p style="padding-left: 304px;margin: 0px;font: bold 15px/17px 'Times New Roman';">OF</p>
        <p style="padding-left: 125px;margin: 0px;font: bold 15px/17px 'Times New Roman';">SERIES E CUMULATIVE TERM PREFERRED SHARES</p>
        <p style="padding-left: 242px;margin-top: 16px;margin-bottom: 0px;font: bold 15px/17px 'Times New Roman';">AMENDMENT NO. 1</p>
        <p style="margin-top: 16px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">The GDL Fund, a Delaware statutory trust (the "<font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Trust</font>"), hereby certifies that:</p>
        <p style="padding-right: 100px;margin-top: 15px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">FIRST: The Board of Trustees of the Trust (the "<font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Board of Trustees</font>"), at a meeting duly convened and held on February 28, 2008 and November 19, 2008, pursuant to authority expressly vested in it by Article</p>
        <p style="padding-right: 106px;margin: 0px;font: 15px/17px 'Times New Roman';"><font style="font: 15px / 17px 'Times New Roman';">III</font><font style="font: 15px / 17px 'Times New Roman'; margin-left: 3px;">of the Amended and Restated Agreement and Declaration of Trust, adopted resolutions classifying an unlimited amount of shares as authorized but unissued preferred shares of the Trust.</font></p>
        <p style="padding-right: 105px;margin-top: 16px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">SECOND: The Board of Trustees, at a meeting duly convened and held on February 8, 2022, approved the designation, issuance and sale by the Trust of up to $40,000,000 in liquidation preference of Series E Cumulative Term Preferred Shares, par value $0.001 per share.</p>
        <p style="padding-right: 101px;margin-top: 16px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">THIRD: The pricing committee of the Board of Trustees (the "<font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Pricing Committee</font>"), at a meeting duly convened and held on March 28, 2022, approved the issuance and sale by the Trust of up to 3,500,000 shares of Series E Cumulative Term Preferred Shares, par value $0.001 per share (the "<font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Series E Preferred Shares</font>").</p>
        <p style="padding-right: 96px;margin-top: 15px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">FOURTH: The Board of Trustees, at a meeting duly convened and held on January 19, 2023, determined to increase the dividend rate on the Series E Preferred Shares effective as of January 19, 2023, and determined that such action would not adversely affect the rights and preferences of the Series E Preferred Shares.</p>
        <p style="padding-right: 134px;margin-top: 15px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">FIFTH: Effective as of January 19, 2023, Part II, Section 2(a) of the Statement of Preferences of the Series E Preferred Shares is deleted and replaced in its entirety with the following:</p>
        <p style="margin-top: 16px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">2. Dividends and Distributions.</p>
        <p style="padding-right: 96px;margin-top: 16px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';"><font style="font: 14px / 16px 'Times New Roman';">(a)</font><font style="font: 15px / 17px 'Times New Roman'; margin-left: 4px;">Holders of Series E Preferred Shares shall be entitled to receive, when, as and if declared by, or under authority granted by, the Board of Trustees, out of funds legally available therefor, cumulative cash dividends and distributions, calculated separately for each dividend period, payable quarterly on March 26, June 26, September 26 and December 26 in each year (each a "</font><font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Dividend Payment Date</font>") commencing on the Dividend Payment Date following the Date of Original Issue (if any Dividend Payment Date is not a Business Day, then on the next succeeding Business Day), and computed on the basis of a 360-day year consisting of twelve 30-day months, of the Liquidation Preference on the Series E Preferred Shares. As used herein, each period beginning on and including a Dividend Payment Date (or beginning on the Date of Original Issue, in the case of the first dividend period after the issuance of such Series E Preferred Shares) and ending on but excluding the next succeeding Dividend Payment Date is referred to as a "Dividend Period." For Dividend Periods (or portions thereof) prior to, but not including, January 19, 2023, dividends will be paid at an annualized rate of 4.00% based on the Liquidation Preference of the Series E Preferred Shares. For Dividend Periods (or portions thereof) on or after January 19, 2023, dividends will be paid at an annualized rate of 5.20% based on the Liquidation Preference of the Series E Preferred Shares. Dividends and distributions will be payable to holders of record of Series E Preferred Shares as they appear on the share register of the Trust at the close of business on the fifth Business Day preceding the Dividend Payment Date (each, a "<font style="font: 15px / 17px 'Times New Roman'; text-decoration: underline;">Record Date</font>") in preference to dividends</p>
        </div>
        <div style="margin: 47px 0px 0px 0px;padding: 0px;width: 720px;overflow: hidden;">
        <p style="margin: 0px;font: 10px/12px 'Times New Roman';">818996.01-BOSSR01A - MSW</p>
        </div>
        </div>
        <p style="page-break-before:always;">&#160;</p>
        <div style="position:relative; overflow: hidden;margin: 96px 0px 47px 96px;padding: 0px;width: 720px;">
        <div style="margin: 0px;padding: 0px;width: 720px;overflow: hidden;">
        <p style="padding-right: 100px;margin: 0px;font: 15px/17px 'Times New Roman';">and distributions on Common Shares and any other capital shares of the Trust ranking junior to the Series E Preferred Shares in payment of dividends and distributions. Dividends and distributions on Series E Preferred Shares that were originally issued on the Date of Original Issue shall accumulate from the Date of Original Issue. Dividends and distributions on all other Series E Preferred Shares shall accumulate from (i) the date on which such shares are originally issued if such date is a Dividend Payment Date, (ii) the immediately preceding Dividend Payment Date if the date on which such shares are originally issued is other than a Dividend Payment Date and is on or before a Record Date or (iii) the immediately following Dividend Payment Date if the date on which such shares are originally issued is during the period between a Record Date and a Dividend Payment Date. Dividends and distributions on account of arrears for any past Dividend Period or in connection with the redemption of Series E Preferred Shares may be declared and paid at any time, without reference to any Dividend Payment Date, to holders of record on such date not exceeding 30 days preceding the payment date thereof as shall be fixed by the Board of Trustees.</p>
        <p style="padding-right: 96px;margin-top: 15px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">SIXTH: Capitalized terms used but not defined herein shall have the respective meanings given to them in the Statement of Preferences of the Series E Preferred Shares.</p>
        <p style="padding-left: 124px;margin-top: 15px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</p>
        <p style="padding-left: 308px;margin-top: 580px;margin-bottom: 0px;font: 16px/18px 'Times New Roman';">2</p>
        </div>
        <div style="margin: 1px 0px 0px 0px;padding: 0px;width: 720px;overflow: hidden;">
        <p style="margin: 0px;font: 10px/12px 'Times New Roman';">818996.01-BOSSR01A - MSW</p>
        </div>
        </div>
        <p style="page-break-before:always;">&#160;</p>
        <div style="position:relative; overflow: hidden;margin: 96px 0px 47px 0px;padding: 0px;width: 816px;">
        <div style="position: absolute; top: 150px; left: 96px; z-index: -1; width: 528px; height: 119px; padding-left: 0px;"> &#160;</div>
        <div style="margin: 0px 0px 0px 96px;padding: 0px;width: 615px;overflow: hidden;">
        <p style="margin: 0px;font: 15px/17px 'Times New Roman';">IN WITNESS WHEREOF, The GDL Fund has caused this Amendment No. 1 to the Statement of Preferences of Series E Preferred Shares to be signed in its name and on its behalf by a duly authorized officer, who acknowledges said instrument to be the statutory trust act of the Trust, and states that, to the best of such officer's knowledge, information and belief under penalty of perjury, the matters and facts herein set forth with respect to approval are true in all material respects, as of January 19, 2023.</p>
        </div>
        <div style="margin: 37px 0px 0px 0px;padding: 0px;width: 816px;overflow: hidden;">
        <div style="float:left;margin: 13px 0px 0px 0px;padding: 0px;width: 432px;overflow: hidden;">
        <p style="text-align: right;padding-right: 27px;margin: 0px;font: 15px/17px 'Times New Roman';">By:</p>
        <p style="padding-left: 96px;margin-top: 51px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">Attest:</p>
        <p style="padding-left: 99px;margin-top: 23px;margin-bottom: 0px;font: 15px/17px 'Arial';">/s/ Peter Goldstein</p>
        <p style="padding-left: 96px;margin-top: 7px;margin-bottom: 0px;font: 15px/17px 'Arial';"><font style="font: 15px / 17px 'Times New Roman'; position: relative; bottom: 3px;">Name: </font>Peter Goldstein</p>
        <p style="padding-left: 96px;margin-top: 3px;margin-bottom: 0px;font: 15px/17px 'Arial';"><font style="font: 15px / 17px 'Times New Roman'; position: relative; bottom: 5px;">Title: </font>Vice President</p>
        </div>
        <div style="float:left;margin: 0px;padding: 0px;width: 384px;overflow: hidden;">
        <p style="margin: 0px;font: 15px/17px 'Arial';">/s/ John C. Ball</p>
        <p style="margin-top: 13px;margin-bottom: 0px;font: 15px/17px 'Times New Roman';">Name: John C. Ball</p>
        <p style="margin: 0px;font: 15px/17px 'Times New Roman';">Title: President</p>
        </div>
        </div>
        <div style="margin: 582px 0px 0px 206px;padding: 0px;width: 610px;overflow: hidden;">
        <p style="margin: 0px;font: italic 13px/15px 'Times New Roman';">[GDL Series E Statement of Preferences Amendment No. 1 Signature Page<font style="font: 13px / 15px 'Times New Roman';">]</font></p>
        </div>
        <div style="margin: 0px 0px 0px 96px;padding: 0px;width: 720px;overflow: hidden;">
        <p style="margin: 0px;font: 10px/12px 'Times New Roman';">818996.01-BOSSR01A - MSW</p>
        </div>
        </div>
    </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
