UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21969
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The Gabelli Global Deal Fund
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(Exact name of registrant as specified in charter)
One Corporate Center
Rye, New York 10580-1422
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(Address of principal executive offices) (Zip code)
Bruce N. Alpert
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422
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(Name and address of agent for service)
Registrant's telephone number, including area code: 1-800-422-3554
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Date of fiscal year end: December 31
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Date of reporting period: September 30, 2007
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC
20549. The OMB has reviewed this collection of information under the clearance
requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule(s) of Investments is attached herewith.
[LOGO OMITTED]
THE GABELLI
GLOBAL DEAL
FUND
THE GABELLI GLOBAL DEAL FUND
Third Quarter Report
September 30, 2007
TO OUR SHAREHOLDERS,
Since it commenced operations on January 31, 2007, The Gabelli Global Deal
Fund has gained 4.46% on a net asset value ("NAV") basis while the 3 Month U.S.
Treasury Bill Index rose 3.50% over the same period. The Fund's market price on
September 30, 2007, was $17.13, which equates to a 10.31% discount to its NAV of
$19.10.
Enclosed is the investment portfolio as of September 30, 2007.
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RETURNS THROUGH SEPTEMBER 30, 2007 (A)
--------------------------------------
SINCE
INCEPTION
QUARTER (01/31/07)
------- ----------
GABELLI GLOBAL DEAL FUND
NAV TOTAL RETURN (B)........................... 1.47% 4.46%
INVESTMENT TOTAL RETURN (C).................... (5.26) (10.53)
3 Month U.S. Treasury Bill Index................. 1.34 3.50
S&P 500 Index.................................... 2.33 7.50
(a) RETURNS REPRESENT PAST PERFORMANCE AND DO NOT GUARANTEE FUTURE RESULTS.
INVESTMENT RETURNS AND THE PRINCIPAL VALUE OF AN INVESTMENT WILL FLUCTUATE.
WHEN SHARES ARE SOLD, THEY MAY BE WORTH MORE OR LESS THAN THEIR ORIGINAL
COST. CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAN THE PERFORMANCE DATA
PRESENTED. VISIT WWW.GABELLI.COM FOR PERFORMANCE INFORMATION AS OF THE MOST
RECENT MONTH END. PERFORMANCE RETURNS FOR PERIODS LESS THAN ONE YEAR ARE
NOT ANNUALIZED. INVESTORS SHOULD CAREFULLY CONSIDER THE INVESTMENT
OBJECTIVES, RISKS, CHARGES, AND EXPENSES OF THE FUND BEFORE INVESTING. THE
3 MONTH U.S. TREASURY BILL INDEX IS COMPRISED OF A SINGLE ISSUE PURCHASED
AT THE BEGINNING OF THE MONTH AND HELD FOR A FULL MONTH. AT THE END OF THE
MONTH, THAT ISSUE IS SOLD AND ROLLED INTO THE OUTSTANDING TREASURY BILL
THAT MATURES CLOSEST TO, BUT NOT BEYOND THREE MONTHS FROM THE RE-BALANCING
DATE. TO QUALIFY FOR SELECTION, AN ISSUE MUST HAVE SETTLED ON OR BEFORE THE
RE-BALANCING (MONTH END) DATE. THE STANDARD & POOR'S ("S&P") 500 INDEX IS
AN UNMANAGED INDICATOR OF STOCK MARKET PERFORMANCE. DIVIDENDS ARE
CONSIDERED REINVESTED EXCEPT FOR THE 3 MONTH U.S. TREASURY BILL INDEX. YOU
CANNOT INVEST DIRECTLY IN AN INDEX.
(b) TOTAL RETURNS AND AVERAGE ANNUAL RETURNS REFLECT CHANGES IN NAV PER SHARE
AND REINVESTMENT OF DISTRIBUTIONS AT NAV ON THE EX-DIVIDEND DATE AND ARE
NET OF EXPENSES. SINCE INCEPTION RETURN IS BASED ON AN INITIAL NAV OF
$19.06.
(c) TOTAL RETURNS AND AVERAGE ANNUAL RETURNS REFLECT CHANGES IN CLOSING MARKET
VALUES ON THE NEW YORK STOCK EXCHANGE AND REINVESTMENT OF DISTRIBUTIONS.
SINCE INCEPTION RETURN IS BASED ON AN INITIAL OFFERING PRICE OF $20.00.
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We have separated the portfolio manager's commentary from the financial
statements and investment portfolio due to corporate governance regulations
stipulated by the Sarbanes-Oxley Act of 2002. We have done this to ensure that
the content of the portfolio manager's commentary is unrestricted. The financial
statements and investment portfolio are mailed separately from the commentary.
Both the commentary and the financial statements, including the portfolio of
investments, will be available on our website at www.gabelli.com.
--------------------------------------------------------------------------------
THE GABELLI GLOBAL DEAL FUND
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
-------- --------
COMMON STOCKS -- 71.7%
AEROSPACE -- 2.5%
60,000 Sequa Corp., Cl. A+........................... $ 9,946,800
------------
AGRICULTURE -- 0.0%
1,000 Provimi SA.................................... 31,513
------------
AUTOMOTIVE -- 0.1%
15,000 Lear Corp.+................................... 481,500
------------
AUTOMOTIVE: PARTS AND ACCESSORIES -- 0.5%
40,000 Keystone Automotive Industries Inc.+.......... 1,910,400
------------
AVIATION: PARTS AND SERVICES -- 0.4%
25,000 EDO Corp...................................... 1,400,250
------------
BROADCASTING -- 0.0%
1,000 Cumulus Media Inc., Cl. A+.................... 10,220
------------
BUILDING AND CONSTRUCTION -- 0.1%
1,000 Washington Group International Inc.+.......... 87,810
5,000 Williams Scotsman International Inc.+......... 138,550
------------
226,360
------------
BUSINESS SERVICES -- 0.8%
2,000 Acxiom Corp................................... 39,580
3,000 Catalina Marketing Corp.+..................... 97,170
2,000 CDW Corp.+.................................... 174,400
2,000 CheckFree Corp.+.............................. 93,080
100,000 PHH Corp.+.................................... 2,628,000
500 United Rentals Inc.+.......................... 16,085
------------
3,048,315
------------
COMPUTER SOFTWARE AND SERVICES -- 0.3%
6,500 Affiliated Computer Services Inc.,
Cl. A+ .................................... 326,560
2,000 Applix Inc.+.................................. 35,560
15,000 Ceridian Corp.+............................... 521,100
10,000 Jupitermedia Corp.+........................... 63,300
10,000 Neoware Inc.+................................. 162,200
------------
1,108,720
------------
CONSUMER PRODUCTS -- 7.0%
200,000 Altadis SA.................................... 14,071,212
36,000 Harman International
Industries Inc. ............................ 3,114,720
9,000 Herbalife Ltd................................. 409,140
130,000 Oakley Inc.................................... 3,773,900
127,000 Playtex Products Inc.+........................ 2,321,560
400,000 The Topps Co. Inc............................. 3,876,000
------------
27,566,532
------------
MARKET
SHARES VALUE
-------- --------
CONSUMER SERVICES -- 0.0%
2,000 Tele Atlas NV+................................ $ 58,036
------------
DIVERSIFIED INDUSTRIAL -- 2.9%
560,000 Myers Industries Inc.......................... 11,099,200
20,000 The Lamson & Sessions Co.+.................... 539,200
------------
11,638,400
------------
ELECTRONICS -- 1.2%
211,700 Alliance Semiconductor Corp................... 486,910
60,000 Bel Fuse Inc., Cl. A.......................... 2,290,800
17,000 Techem AG..................................... 1,138,359
22,350 Trimble Navigation Ltd.+...................... 876,344
------------
4,792,413
------------
ENERGY AND UTILITIES -- 8.4%
1,200,000 Aquila Inc.+.................................. 4,812,000
10,000 CCS Income Trust.............................. 452,823
60,000 Endesa SA..................................... 3,429,964
20,000 Endesa SA (a)................................. 1,143,322
10,000 Energy East Corp.............................. 270,500
81,100 NorthWestern Corp............................. 2,203,487
65,000 Pogo Producing Co............................. 3,452,150
550 REpower Systems AG+........................... 87,838
378,000 SEMCO Energy Inc.+............................ 2,982,420
185,000 TXU Corp...................................... 12,666,950
40,000 Western Oil Sands Inc., Cl. A+................ 1,565,978
------------
33,067,432
------------
ENTERTAINMENT -- 0.6%
100,000 Gateway Casinos Income Fund................... 2,489,318
300 Penn National Gaming Inc.+.................... 17,706
------------
2,507,024
------------
FINANCIAL SERVICES -- 4.4%
26,000 A.G. Edwards Inc.............................. 2,177,500
80,000 ABN AMRO Holding NV........................... 4,215,090
8,000 Asset Acceptance Capital Corp................. 92,800
130,000 Banco Bilbao Vizcaya
Argentaria SA, ADR.......................... 3,026,400
5,000 Banco BPI SA.................................. 42,065
1,000 First Indiana Corp............................ 31,320
20,000 Great American Financial
Resources Inc. ............................. 490,400
1,000 International Securities Exchange
Holdings Inc. ............................. 66,470
1,000 James River Group Inc......................... 32,400
2,000 KMG America Corp.+............................ 11,840
See accompanying notes to schedule of investments.
2
THE GABELLI GLOBAL DEAL FUND
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
-------- --------
COMMON STOCKS (CONTINUED)
FINANCIAL SERVICES (CONTINUED)
55,000 Nuveen Investments Inc., Cl. A................ $ 3,406,700
1,000 Partners Trust Financial Group Inc............ 12,170
74,000 SLM Corp...................................... 3,675,580
------------
17,280,735
------------
FOOD AND BEVERAGE -- 2.8%
2,000 Bull-Dog Sauce Co. Ltd........................ 5,572
3,000 Nissin Food Products Co. Ltd.................. 107,082
5,000 Reddy Ice Holdings Inc........................ 131,850
140,000 Royal Numico NV............................... 10,859,986
------------
11,104,490
------------
HEALTH CARE -- 12.1%
200,000 Arrow International Inc....................... 9,098,000
2,500 Bausch & Lomb Inc............................. 160,000
5,200 Bioenvision Inc.+............................. 27,456
164,700 Dade Behring Holdings Inc..................... 12,574,845
2,000 DJO Inc.+..................................... 98,200
120,000 Kyphon Inc.+.................................. 8,400,000
4,000 Manor Care Inc................................ 257,600
160,000 PolyMedica Corp............................... 8,403,200
246 QIAGEN NV+.................................... 4,782
200,000 Sierra Health Services Inc.+.. ............... 8,438,000
3,000 Ventana Medical Systems Inc.+................. 257,730
------------
47,719,813
------------
HOTELS AND GAMING -- 3.4%
65,000 Harrah's Entertainment Inc.................... 5,650,450
74,000 Hilton Hotels Corp............................ 3,440,260
50,000 Station Casinos Inc........................... 4,374,000
------------
13,464,710
------------
MACHINERY -- 0.0%
59 Makita Corp................................... 2,589
------------
MATERIALS -- 0.3%
15,000 Florida Rock Industries Inc................... 937,350
12,500 Intertape Polymer Group Inc.+................. 42,500
2,000 Ryerson Inc................................... 67,480
5,000 Stelco Inc.+.................................. 191,525
------------
1,238,855
------------
MARKET
SHARES VALUE
-------- --------
MEDIA -- 6.4%
100,000 APN News & Media Ltd.......................... $ 463,197
270,000 Cablevision Systems Corp., Cl. A+ ............ 9,433,800
230,000 Clear Channel Communications Inc.............. 8,611,200
110,000 Dow Jones & Co. Inc........................... 6,567,000
15,000 Tribune Co.................................... 409,800
------------
25,484,997
------------
METALS AND MINING -- 3.5%
135,000 Alcan Inc..................................... 13,510,800
1,000 Cumerio NV/SA................................. 40,639
10,000 Eland Platinum Holdings Ltd.+................. 148,418
5,000 Gloucester Coal Ltd........................... 21,696
14,500 Uranium One Inc.+............................. 191,701
------------
13,913,254
------------
REAL ESTATE INVESTMENT TRUSTS -- 0.2%
40,000 Equity Inns Inc............................... 903,200
1,000 Republic Property Trust....................... 14,670
------------
917,870
------------
RESTAURANTS -- 1.3%
1,000 Applebee's International Inc.................. 24,880
1,000 Champps Entertainment Inc.+................... 5,550
130,000 RARE Hospitality International Inc.+ ......... 4,954,300
------------
4,984,730
------------
RETAIL -- 0.5%
3,120 AOKI Holdings Inc............................. 61,794
22,000 Genesco Inc.+................................. 1,014,860
1,000 Getaz Romang Holding SA+...................... 944,385
200 Guitar Center Inc.+........................... 11,860
10,000 Pathmark Stores Inc.+......................... 127,500
------------
2,160,399
------------
SPECIALTY CHEMICALS -- 0.0%
320 Mitsubishi Chemical Holdings Corp. 2,786
------------
TELECOMMUNICATIONS -- 5.7%
100,000 Alltel Corp................................... 6,968,000
1,000 Andrew Corp.+................................. 13,850
100,000 Asia Satellite Telecommunications
Holdings Ltd., ADR.......................... 1,989,000
20,000 Avaya Inc.+................................... 339,200
200,000 BCE Inc....................................... 8,010,000
360,000 Portugal Telecom SGPS SA...................... 5,046,129
5,000 Stratos Global Corp.+......................... 34,183
------------
22,400,362
------------
See accompanying notes to schedule of investments.
3
THE GABELLI GLOBAL DEAL FUND
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2007 (UNAUDITED)
MARKET
SHARES VALUE
-------- --------
COMMON STOCKS (CONTINUED)
TRANSPORTATION -- 1.3%
140,000 Laidlaw International Inc..................... $ 4,930,800
2,000 Midwest Air Group Inc.+....................... 32,900
1,000 U.S. Xpress Enterprises Inc., Cl. A+ ......... 19,760
------------
4,983,460
------------
WIRELESS COMMUNICATIONS -- 5.0%
1,000,000 Dobson Communications Corp.,
Cl. A+...................................... 12,790,000
40,000 Rural Cellular Corp., Cl. A+.................. 1,740,000
200,000 SunCom Wireless Holdings Inc.,
Cl. A+ ..................................... 5,160,000
------------
19,690,000
------------
TOTAL COMMON STOCKS........................... 283,142,965
------------
PRINCIPAL
AMOUNT
--------
SHORT-TERM OBLIGATIONS -- 28.3%
REPURCHASE AGREEMENTS -- 26.4%
$104,594,000 Barclays Capital Inc.,
4.800%, dated 09/28/2007,
due 10/01/07, proceeds at maturity,
$104,635,838 (b)............................ 104,594,000
------------
U.S. TREASURY BILLS -- 1.9%
7,500,000 U.S. Treasury Bills,
3.611% to 4.065%++,
12/27/07 to 03/20/08........................ 7,399,432
------------
TOTAL SHORT-TERM
OBLIGATIONS ............................. 111,993,432
------------
TOTAL INVESTMENTS -- 100.0%
(Cost $395,222,705)..................................... $395,136,397
============
--------------------
Aggregate book cost.............................. $395,222,705
============
Gross unrealized appreciation.................... $ 6,229,353
Gross unrealized depreciation.................... (6,315,661)
------------
Net unrealized appreciation (depreciation) ...... $ (86,308)
============
-------------------
(a) At September 30, 2007, the Fund held an investment in a restricted
security amounting to $1,143,322 or 0.29% of total investments, which
was valued under methods approved by the Board of Trustees, as follows:
09/30/07
ACQUISITION ACQUISITION ACQUISITION CARRYING VALUE
SHARES ISSUER DATE COST PER UNIT
----------- ------- ----------- ----------- --------------
20,000 Endesa SA............... 05/08/07 $1,078,432 $57.1661
(b) Collateralized by $105,670,000 Federal Home Loan Bank, 5.125%, due
08/21/2008, market value $106,685,880.
+ Non-income producing security.
++ Represents annualized yield at date of purchase.
ADR American Depository Receipt
% OF
MARKET MARKET
VALUE VALUE
------ ------
GEOGRAPHIC DIVERSIFICATION
United States ............. 81.3% $321,296,574
Europe .................... 11.2 44,139,722
Canada .................... 6.7 26,488,827
Asia/Pacific .............. 0.6 2,473,893
Latin America ............. 0.1 409,140
Japan ..................... 0.1 179,823
South Africa .............. 0.0 148,418
----- ------------
100.0% $395,136,397
===== ============
See accompanying notes to schedule of investments.
4
THE GABELLI GLOBAL DEAL FUND
NOTES TO SCHEDULE OF INVESTMENTS (UNAUDITED)
1. SECURITY VALUATION. Portfolio securities listed or traded on a nationally
recognized securities exchange or traded in the U.S. over-the-counter market for
which market quotations are readily available are valued at the last quoted sale
price or a market's official closing price as of the close of business on the
day the securities are being valued. If there were no sales that day, the
security is valued at the average of the closing bid and asked prices or, if
there were no asked prices quoted on that day, then the security is valued at
the closing bid price on that day. If no bid or asked prices are quoted on such
day, the security is valued at the most recently available price or, if the
Board of Trustees (the "Board") so determines, by such other method as the Board
shall determine in good faith to reflect its fair market value. Portfolio
securities traded on more than one national securities exchange or market are
valued according to the broadest and most representative market, as determined
by Gabelli Funds, LLC.
Portfolio securities primarily traded on a foreign market are generally valued
at the preceding closing values of such securities on the relevant market, but
may be fair valued pursuant to procedures established by the Board if market
conditions change significantly after the close of the foreign market but prior
to the close of business on the day the securities are being valued. Debt
instruments with remaining maturities of 60 days or less that are not credit
impaired are valued at amortized cost, unless the Board determines such amount
does not reflect the securities' fair value, in which case these securities will
be fair valued as determined by the Board. Debt instruments having a maturity
greater than 60 days for which market quotations are readily available are
valued at the average of the latest bid and asked prices. If there were no asked
prices quoted on such day, the security is valued using the closing bid price.
Securities and assets for which market quotations are not readily available are
fair valued as determined by the Board.
2. SWAP AGREEMENTS. The Fund may enter into equity swap transactions. The use of
equity swaps is a highly specialized activity that involves investment
techniques and risks different from those associated with ordinary portfolio
security transactions. An equity swap is a swap where a set of future cash flows
are exchanged between two counterparties. One of these cash flow streams will
typically be based on a reference interest rate combined with the performance of
a notional value of shares of a stock. The other will be based on the
performance of the shares of a stock. There is no assurance that the swap
contract counterparties will be able to meet their obligations pursuant to the
swap contracts, or that, in the event of default, the Fund will succeed in
pursuing contractual remedies. The Fund thus assumes the risk that it may be
delayed in or prevented from obtaining payments owed to it pursuant to the swap
contracts. The creditworthiness of the swap contract counterparties is closely
monitored in order to minimize the risk. Depending on the general state of
short-term interest rates and the returns of the Fund's portfolio securities at
that point in time, such a default could negatively affect the Fund's ability to
make dividend payments. In addition, at the time an equity swap transaction
reaches its scheduled termination date, there is a risk that the Fund will not
be able to obtain a replacement transaction or that the terms of the replacement
will not be as favorable as on the expiring transaction. If this occurs, it
could have a negative impact on the Fund's ability to make dividend payments.
The use of derivative instruments involves, to varying degrees, elements of
market and counterparty risk in excess of the amount recognized below. The
change in value of swaps, including the accrual of periodic amounts of interest
to be paid or received on swaps is reported as unrealized appreciation or
depreciation.
The Fund has entered into equity swaps with Bear, Stearns International Limited.
Details of the equity swaps at September 30, 2007 are as follows:
NET UNREALIZED
NOTIONAL EQUITY SECURITY INTEREST RATE/ TERMINATION APPRECIATION
AMOUNT RECEIVED EQUITY SECURITY PAID DATE (DEPRECIATION)
--------- ---------------- ---------------------- ----------- --------------
Market Value Overnight LIBOR plus
Appreciation on: Market Value Depreciation on:
$ 77,678 (100,000 shares) Gulf Keystone Petroleum Ltd. Gulf Keystone Petroleum Ltd. 04/15/08 $ (1,427)
9,708,545 (750,000 shares) Imperial Chemical Industries plc Imperial Chemical Industries plc 05/15/08 118,209
1,408,867 (100,000 shares) SurfControl plc SurfControl plc 03/17/08 (3,984)
--------
$112,798
========
5
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THE GABELLI GLOBAL DEAL FUND
AND YOUR PERSONAL PRIVACY
WHO ARE WE?
The Gabelli Global Deal Fund (the "Fund") is a closed-end management
investment company registered with the Securities and Exchange Commission
under the Investment Company Act of 1940. We are managed by Gabelli Funds,
LLC, which is affiliated with GAMCO Investors, Inc. GAMCO Investors, Inc.
is a publicly held company that has subsidiaries that provide investment
advisory or brokerage services for a variety of clients.
WHAT KIND OF NON-PUBLIC INFORMATION DO WE COLLECT ABOUT YOU IF YOU BECOME A
SHAREHOLDER?
When you purchase shares of the Fund on the New York Stock Exchange, you
have the option of registering directly with our transfer agent in order,
for example, to participate in our dividend reinvestment plan.
o INFORMATION YOU GIVE US ON YOUR APPLICATION FORM. This could include
your name, address, telephone number, social security number, bank
account number, and other information.
o INFORMATION ABOUT YOUR TRANSACTIONS WITH US. This would include
information about the shares that you buy or sell, it may also include
information about whether you sell or exercise rights that we have
issued from time to time. If we hire someone else to provide
services--like a transfer agent--we will also have information about
the transactions that you conduct through them.
WHAT INFORMATION DO WE DISCLOSE AND TO WHOM DO WE DISCLOSE IT?
We do not disclose any non-public personal information about our customers
or former customers to anyone other than our affiliates, our service
providers who need to know such information, and as otherwise permitted by
law. If you want to find out what the law permits, you can read the privacy
rules adopted by the Securities and Exchange Commission. They are in volume
17 of the Code of Federal Regulations, Part 248. The Commission often posts
information about its regulations on its website, WWW.SEC.GOV.
WHAT DO WE DO TO PROTECT YOUR PERSONAL INFORMATION?
We restrict access to non-public personal information about you to the
people who need to know that information in order to provide services to
you or the Fund and to ensure that we are complying with the laws governing
the securities business. We maintain physical, electronic, and procedural
safeguards to keep your personal information confidential.
--------------------------------------------------------------------------------
TRUSTEES AND OFFICERS
THE GABELLI GLOBAL DEAL FUND
ONE CORPORATE CENTER, RYE, NY 10580-1422
TRUSTEES
Mario J. Gabelli, CFA
CHAIRMAN & CHIEF EXECUTIVE OFFICER,
GAMCO INVESTORS, INC.
Anthony J. Colavita
ATTORNEY-AT-LAW,
ANTHONY J. COLAVITA, P.C.
James P. Conn
FORMER MANAGING DIRECTOR &
CHIEF INVESTMENT OFFICER,
FINANCIAL SECURITY ASSURANCE HOLDINGS LTD.
Clarence A. Davis
CHIEF EXECUTIVE OFFICER,
NESTOR, INC.
Mario d'Urso
CHAIRMAN, MITTEL CAPITAL MARKETS SPA
Arthur V. Ferrara
FORMER CHAIRMAN & CHIEF EXECUTIVE OFFICER,
GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
Michael J. Melarkey
ATTORNEY-AT-LAW,
AVANSINO, MELARKEY, KNOBEL & MULLIGAN
Edward T. Tokar
SENIOR MANAGING DIRECTOR,
BEACON TRUST COMPANY
Salvatore J. Zizza
CHAIRMAN, ZIZZA & CO., LTD.
OFFICERS
Bruce N. Alpert
PRESIDENT
Carter W. Austin
VICE PRESIDENT
Peter D. Goldstein
CHIEF COMPLIANCE OFFICER
James E. McKee
SECRETARY
Sheila J. Moore
ASSISTANT VICE PRESIDENT & OMBUDSMAN
Agnes Mullady
TREASURER
David I. Schachter
VICE PRESIDENT
INVESTMENT ADVISER
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422
CUSTODIAN
Mellon Trust of New England, N.A.
COUNSEL
Skadden, Arps, Slate, Meagher & Flom LLP
TRANSFER AGENT AND REGISTRAR
American Stock Transfer and Trust Company
STOCK EXCHANGE LISTING
Common
--------
NYSE-Symbol: GDL
Shares Outstanding: 21,311,110
The Net Asset Value per share appears in the Publicly Traded Funds column,
under the heading "Specialized Equity Funds," in Monday's The Wall Street
Journal. It is also listed in Barron's Mutual Funds/Closed End Funds section
under the heading "Specialized Equity Funds." The Net Asset Value per share
may be obtained each day by calling (914) 921-5070~ or visiting
www.gabelli.com.
--------------------------------------------------------------------------------
For general information about the Gabelli Funds, call 800-GABELLI
(800-422-3554), fax us at 914-921-5118, visit Gabelli Funds' Internet homepage
at: WWW.GABELLI.COM, or e-mail us at: closedend@gabelli.com
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--------------------------------------------------------------------------------
Notice is hereby given in accordance with Section 23(c) of the Investment
Company Act of 1940, as amended, that the Fund may, from time to time, purchase
its common shares in the open market when the Fund's shares are trading at a
discount of 7.5% or more from the net asset value of the shares.
--------------------------------------------------------------------------------
THE GABELLI GLOBAL DEAL FUND
ONE CORPORATE CENTER
RYE, NY 10580-1422
(914) 921-5070
WWW.GABELLI.COM
THIRD QUARTER REPORT
SEPTEMBER 30, 2007
GDL 3Q/2007
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial
officers, or persons performing similar functions, have concluded
that the registrant's disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940,
as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective,
as of a date within 90 days of the filing date of the report that
includes the disclosure required by this paragraph, based on their
evaluation of these controls and procedures required by Rule
30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules
13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934,
as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act
(17 CFR 270.30a-3(d)) that occurred during the registrant's last
fiscal quarter that have materially affected, or are reasonably
likely to materially affect, the registrant's internal control over
financial reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) The Gabelli Global Deal Fund
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By (Signature and Title)* /s/ Bruce N. Alpert
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Bruce N. Alpert, Principal Executive Officer
Date November 9, 2007
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Bruce N. Alpert
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Bruce N. Alpert, Principal Executive Officer
Date November 9, 2007
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By (Signature and Title)* /s/ Agnes Mullady
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Agnes Mullady,
Principal Financial Officer and Treasurer
Date November 9, 2007
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* Print the name and title of each signing officer under his or her signature.