# EDGAR Filing Document

**Accession Number:** 0001378701
**File Stem:** 0001752724-23-049990
**Filing Date:** 2023-3
**Character Count:** 55231
**Document Hash:** ab604500fa6b104a1f0764cb59d5dc35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-049990.hdr.sgml**: 20230301

**ACCESSION NUMBER**: 0001752724-23-049990

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230301

**DATE AS OF CHANGE**: 20230301

**PERIOD START**: 20221231

**FILER**: 

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21969
- **FILM NUMBER:** 23692164

**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

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** GDL Fund

- **b. Investment Company Act file number:** 811-21969

- **c. CIK number of Registrant:** 0001378701

- **d. LEI of Registrant:** 5493000XKGL8ZPN99479

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Corporate Center

  - **City:** Rye

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10580-1422

  - **Telephone number:** 1-800-422-3554

**Item A.2. Information about the Series.**

- **a. Name of Series:** GDL Fund

- **c. LEI of Series:** 5493000XKGL8ZPN99479

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $202476258.08

**Total Liabilities:** $73271127.04

**Net Assets:** $129205131.04

**Cash Not Reported:** $4081286.45

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 1.01%                | -0.63%               | 0.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $657996.09               | $1754346.95                                |
| Month 2  | $506436.07               | $-609737.84                                |
| Month 3  | $-60064.85               | $699338.29                                 |

### Schedule of Portfolio Investments

| Name                                | Title                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Entegris Inc                        | Entegris Inc                        | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |       800 | NS      | $52472.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                         | Rogers Corp                         | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     22200 | NS      | $2649348.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AVEVA Group PLC                     | AVEVA Group PLC                     | CUSIP: 000000000<br>LEI: 213800XHATUM2LFMKG16 | Long             | EC               | CORP              | GB        |      2000 | NS      | $77687.13     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupa Software Inc                  | Coupa Software Inc                  | CUSIP: 22266L106<br>LEI: 549300Q95ICR2GFL2K37 | Long             | EC               | CORP              | US        |      9000 | NS      | $712530.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ework Group AB                      | Ework Group AB                      | CUSIP: 000000000<br>LEI: 549300WF2ILKHMGV9I45 | Long             | EC               | CORP              | SE        |      2000 | NS      | $23383.18     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| EPIZYME INCCONTINGENT               | EPIZYME INCCONTINGENT               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28000 | NS      | $560.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| F-star Therapeutics Inc             | F-star Therapeutics Inc             | CUSIP: 30315R107<br>LEI: 5493003TRY5HK3M6WH76 | Long             | EC               | CORP              | GB        |      2000 | NS      | $12640.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| IAA Inc                             | IAA Inc                             | CUSIP: 449253103<br>LEI: 549300PZCOPC5178W747 | Long             | EC               | CORP              | US        |      8000 | NS      | $320000.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange Belgium SA                   | Orange Belgium SA                   | CUSIP: 000000000<br>LEI: 5493007JS0ZHJVBUWP18 | Long             | EC               | CORP              | BE        |     47000 | NS      | $867364.23    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                     | Alamos Gold Inc                     | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |     46000 | NS      | $465060.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796U31<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19145000 | PA      | $18967018.70  | 14.68%            | 2023-03-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tronox Holdings PLC                 | Tronox Holdings PLC                 | CUSIP: 000000000<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               | CORP              | US        |       400 | NS      | $5484.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| 1Life Healthcare Inc                | 1Life Healthcare Inc                | CUSIP: 68269G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55000 | NS      | $919050.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Meridian Bioscience Inc             | Meridian Bioscience Inc             | CUSIP: 589584101<br>LEI: 549300ELSRZEFFFRX195 | Long             | EC               | CORP              | US        |      3500 | NS      | $116235.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc         | Columbia Banking System Inc         | CUSIP: 197236102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $90390.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| STORE Capital Corp                  | STORE Capital Corp                  | CUSIP: 862121100<br>LEI: 5493004EA6C9IHDZ7N66 | Long             | EC               | CORP              | US        |     30000 | NS      | $961800.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                        | Bel Fuse Inc                        | CUSIP: 077347201<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |     57100 | NS      | $1900859.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Trean Insurance Group Inc           | Trean Insurance Group Inc           | CUSIP: 89457R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45000 | NS      | $270000.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA ADAMAS PHARMACE              | CONTRA ADAMAS PHARMACE              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104000 | NS      | $5200.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shore Bancshares Inc                | Shore Bancshares Inc                | CUSIP: 825107105<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4657 | NS      | $-81171.51    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| Lee Enterprises Inc                 | Lee Enterprises Inc                 | CUSIP: 523768406<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3500 | NS      | $64960.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver CVR             | Pan American Silver CVR             | CUSIP: 697900132<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |    419000 | NS      | $239249.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial Corp/The        | Community Financial Corp/The        | CUSIP: 20368X101<br>LEI: 549300IM1P8BVV642449 | Long             | EC               | CORP              | US        |      2000 | NS      | $79800.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QIAGEN NV                           | QIAGEN NV                           | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |      7000 | NS      | $349090.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TOBIRA THERAPEUTICS INC             | TOBIRA THERAPEUTIC                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11000 | NS      | $0.01         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Atlas Corp                          | Atlas Corp                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     50000 | NS      | $767000.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| KnowBe4 Inc                         | KnowBe4 Inc                         | CUSIP: 49926T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44495 | NS      | $1102586.10   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Siltronic AG                        | Siltronic AG                        | CUSIP: 000000000<br>LEI: 5299003NKV26NNGHHR90 | Long             | EC               | CORP              | DE        |      2500 | NS      | $182377.92    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Endosurgery Inc              | Apollo Endosurgery Inc              | CUSIP: 03767D108<br>LEI: 549300OD82W5UIMD4H13 | Long             | EC               | CORP              | US        |      2500 | NS      | $24925.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc                 | MKS Instruments Inc                 | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      2208 | NS      | $187083.84    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Gen Digital Inc                     | Gen Digital Inc                     | CUSIP: 668771108<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | EC               | CORP              | US        |      3352 | NS      | $71833.36     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportsman's Warehouse Holdings      | Sportsman's Warehouse Holdings Inc  | CUSIP: 84920Y106<br>LEI: 549300JVV8YLQSRSF462 | Long             | EC               | CORP              | US        |     64000 | NS      | $602240.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc                    | Artemis Gold Inc                    | CUSIP: 04302L100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     20000 | NS      | $64844.90     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Biffa PLC                           | Biffa PLC                           | CUSIP: 000000000<br>LEI: 2138008RB4WDK7HYYS91 | Long             | EC               | CORP              | GB        |     12500 | NS      | $61565.78     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sierra Metals Inc                   | Sierra Metals Inc                   | CUSIP: 82639W106<br>LEI: 9676001YCHZE7AT8VA50 | Long             | EC               | CORP              | CA        |     70000 | NS      | $12096.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Indus Realty Trust Inc              | Indus Realty Trust Inc              | CUSIP: 45580R103<br>LEI: 549300FS2G2L16L2GO91 | Long             | EC               | CORP              | US        |      7000 | NS      | $444430.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                            | Fox Corp                            | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     35000 | NS      | $995750.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Corem Property Group AB             | Corem Property Group AB             | CUSIP: 000000000<br>LEI: 213800CHXQQD7TSS1T59 | Long             | EC               | CORP              | SE        |     10000 | NS      | $8040.36      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CNFinance Holdings Ltd              | CNFinance Holdings Ltd              | CUSIP: 18979T105<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2237 | NS      | $3825.27      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp                     | Brookfield Corp                     | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |      3500 | NS      | $110110.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank and Trust Company | USD/EUR FORWARD                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-20633.22    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EMIS Group PLC                      | EMIS Group PLC                      | CUSIP: 000000000<br>LEI: 213800K474ZZK76NX913 | Long             | EC               | CORP              | GB        |      4000 | NS      | $90526.18     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Malvern Bancorp Inc                 | Malvern Bancorp Inc                 | CUSIP: 561409103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $142000.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp              | Webster Financial Corp              | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      2000 | NS      | $94680.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CFT SpA                             | CFT SpA                             | CUSIP: 000000000<br>LEI: 8156006BD7F4AB008C54 | Long             | EC               | CORP              | IT        |     25000 | NS      | $123101.75    | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796XZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8650000 | PA      | $8615535.37   | 6.67%             | 2023-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| First Horizon Corp                  | First Horizon Corp                  | CUSIP: 320517105<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EC               | CORP              | US        |     33000 | NS      | $808500.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796YL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | PA      | $99171.70     | 0.08%             | 2023-03-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Hexcel Corp                         | Hexcel Corp                         | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      5000 | NS      | $294250.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SGL Carbon SE                       | SGL Carbon SE                       | CUSIP: 000000000<br>LEI: 52990038IB31TYK07X63 | Long             | EC               | CORP              | DE        |      4000 | NS      | $29672.87     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                         | Lennar Corp                         | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |     37500 | NS      | $2804250.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PREVAIL THERAPEUTICS INC            | PREVAIL THERAPEUTICS INC            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $1500.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fresh Market Inc/The                | Fresh Market Inc/The                | CUSIP: 35804H106<br>LEI: 529900QM5ZSBEBR6CS58 | Long             | EC               | CORP              | US        |     69000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gulf Coast Ultra Deep Royalty       | Gulf Coast Ultra Deep Royalty Trust | CUSIP: 40222T104<br>LEI: 549300LVVWU3NPP3DF95 | Long             | EC               | CORP              | US        |    460000 | NS      | $17940.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| OCERA THERAPEUTICS CVR              | OCERA THERAPEUTICS CVR              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23000 | NS      | $3910.00      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| SouthState Corp                     | SouthState Corp                     | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      1000 | NS      | $76360.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AKOUOS INC                          | AKOUOS INC                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $30000.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CONTINGENT VALUE RIGHT              | CONTINGENT VALUE RIGHT              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $650.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Lennar Corp                         | Lennar Corp                         | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Short            | EC               | CORP              | US        |    -24500 | NS      | $-2217250.00  | -1.72%            |  |  |  | No            |                  1 | On Loan: No      |
| Bioventus Inc                       | Bioventus Inc                       | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $20880.00     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                         | Avista Corp                         | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |     12000 | NS      | $532080.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796XR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7150000 | PA      | $7143801.81   | 5.53%             | 2023-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TherapeuticsMD Inc                  | TherapeuticsMD Inc                  | CUSIP: 88338N206<br>LEI: 5299004JS7RE49QHRW30 | Long             | EC               | CORP              | US        |     17000 | NS      | $95030.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| KINCROSS GOLDCORP CVR               | KINCROSS GOLDCORP CVR               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     10000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mativ Holdings Inc                  | Mativ Holdings Inc                  | CUSIP: 808541106<br>LEI: 549300Z1FU4IDULG1R21 | Long             | EC               | CORP              | US        |     10000 | NS      | $209000.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Vivint Smart Home Inc               | Vivint Smart Home Inc               | CUSIP: 928542109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $357000.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Weber Inc                           | Weber Inc                           | CUSIP: 94770D102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12000 | NS      | $96600.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CNH Industrial NV                   | CNH Industrial NV                   | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |     10000 | NS      | $160192.84    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                           | Endesa SA                           | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     40000 | NS      | $755095.43    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Altra Industrial Motion Corp        | Altra Industrial Motion Corp        | CUSIP: 02208R106<br>LEI: NQ0NIXPGW4YKG4MWM571 | Long             | EC               | CORP              | US        |     26000 | NS      | $1553500.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc         | Healthcare Realty Trust Inc         | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |      3000 | NS      | $57810.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Yashili International Holdings      | Yashili International Holdings Ltd  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    325000 | NS      | $47050.46     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zogenix Inc                         | Zogenix Inc                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1500 | NS      | $1500.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Latin America Ltd           | Liberty Latin America Ltd           | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |     30000 | NS      | $225900.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| iRobot Corp                         | iRobot Corp                         | CUSIP: 462726100<br>LEI: 5493009PRNKOUKBAT390 | Long             | EC               | CORP              | US        |     36700 | NS      | $1766371.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Horizon Therapeutics Plc            | Horizon Therapeutics Plc            | CUSIP: 000000000<br>LEI: 529900P0GSQ79OOZEV53 | Long             | EC               | CORP              | US        |      5000 | NS      | $569000.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                  | Koninklijke KPN NV                  | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    175000 | NS      | $541380.09    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| UserTesting Inc                     | UserTesting Inc                     | CUSIP: 91734E101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $300400.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| STEEL PARTNERS HLDS LP              | Steel Partners Holdings LP          | CUSIP: 85814R206<br>LEI: 5493009U8Z59G5SIZ389 | Long             | EP               | CORP              | US        |      2000 | NS      | $45940.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Gas Holdings Inc          | Southwest Gas Holdings Inc          | CUSIP: 844895102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8000 | NS      | $495040.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Bank                        | Cadence Bank                        | CUSIP: 12740C103<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EC               | CORP              | US        |     12000 | NS      | $295920.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Abertis Infraestructuras SA         | Abertis Infraestructuras SA         | CUSIP: 000000000<br>LEI: 549300GKFVWI02JQ5332 | Long             | EC               | CORP              | ES        |     40000 | NS      | $207667.30    | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| AVEO Pharmaceuticals Inc            | AVEO Pharmaceuticals Inc            | CUSIP: 053588307<br>LEI: 529900PLC55DUQO4CR76 | Long             | EC               | CORP              | US        |     40000 | NS      | $598000.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| RADIUS HEALTH INC                   | RADIUS HEALTH INC                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2000 | NS      | $160.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Lt      | Brookfield Asset Management Ltd     | CUSIP: 113004105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       875 | NS      | $25086.25     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PNM Resources Inc                   | PNM Resources Inc                   | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     94000 | NS      | $4586260.00   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796YA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6595000 | PA      | $6562243.89   | 5.08%             | 2023-02-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMBIT BIOSCIENCES CORP              | AMBIT BIOSCIENCES CORP CVR          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79391 | NS      | $134170.79    | 0.10%             |  |  |  | No            |                  3 | On Loan: No      |
| ACHILLION PHARM CVR                 | ACHILLION PHARM CVR                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70000 | NS      | $35000.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Liberty Global PLC                  | Liberty Global PLC                  | CUSIP: 000000000<br>LEI: 549300BSGXG3QLIQYT84 | Long             | EC               | CORP              | GB        |     40000 | NS      | $757200.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| VMware Inc                          | VMware Inc                          | CUSIP: 928563402<br>LEI: 549300BUDHS3LRWBE814 | Long             | EC               | CORP              | US        |      2000 | NS      | $245520.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Resolute Forest Products Inc        | Resolute Forest Products Inc        | CUSIP: 76117W109<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     24000 | NS      | $518160.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Solutions Group AG              | SLM Solutions Group AG              | CUSIP: 000000000<br>LEI: 5299004VIBQF63906C97 | Long             | EC               | CORP              | DE        |      4000 | NS      | $85207.82     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Global Inc                    | Spire Global Inc                    | CUSIP: 848560108<br>LEI: 549300EZFBLFFHJ5MF06 | Long             | EC               | CORP              | US        |      8700 | NS      | $8352.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tod's SpA                           | Tod's SpA                           | CUSIP: 000000000<br>LEI: 815600DA4FA5A5D4CD58 | Long             | EC               | CORP              | IT        |      3000 | NS      | $97239.68     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Altaba Inc Escrow                   | Altaba Inc Escrow                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    425000 | NS      | $1615000.00   | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796X95<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3545000 | PA      | $3544285.08   | 2.74%             | 2023-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dova Pharmaceuticals Inc CVR        | Dova Pharmaceuticals Inc CVR        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    103040 | NS      | $12880.00     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Poshmark Inc                        | Poshmark Inc                        | CUSIP: 73739W104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1000 | NS      | $17880.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Opiant Pharmaceuticals Inc          | Opiant Pharmaceuticals Inc          | CUSIP: 683750103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $60840.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chr Hansen Holding A/S              | Chr Hansen Holding A/S              | CUSIP: 000000000<br>LEI: 549300MKPW8ZF3E8MW37 | Long             | EC               | CORP              | DK        |      2500 | NS      | $179831.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Biohaven Ltd                        | Biohaven Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9000 | NS      | $124920.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Latin America Ltd           | Liberty Latin America Ltd           | CUSIP: 000000000<br>LEI: 213800YWQHEAX7CAVO83 | Long             | EC               | CORP              | US        |      5351 | NS      | $40667.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Imago Biosciences Inc               | Imago Biosciences Inc               | CUSIP: 45250K107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    117436 | NS      | $4221824.20   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmet Oyj                          | Valmet Oyj                          | CUSIP: 000000000<br>LEI: 213800D9O7FUQDH83V62 | Long             | EC               | CORP              | FI        |      4000 | NS      | $107730.09    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Steel Partners Holdings LP          | Steel Partners Holdings LP          | CUSIP: 85814R107<br>LEI: 5493009U8Z59G5SIZ389 | Long             | EC               | CORP              | US        |     23600 | NS      | $1010080.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Aerojet Rocketdyne Holdings In      | Aerojet Rocketdyne Holdings Inc     | CUSIP: 007800105<br>LEI: 549300VULNLWHE8QWI76 | Long             | EC               | CORP              | US        |    110000 | NS      | $6152300.00   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank and Trust Company | CAD/USD FORWARD                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4492.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Idorsia Ltd                         | Idorsia Ltd                         | CUSIP: 000000000<br>LEI: 506700XOVZUB107S5720 | Long             | EC               | CORP              | CH        |     35000 | NS      | $507975.99    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Signify Health Inc                  | Signify Health Inc                  | CUSIP: 82671G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20000 | NS      | $573200.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cowen Inc                           | Cowen Inc                           | CUSIP: 223622606<br>LEI: 5493008QI0EFC5WBED75 | Long             | EC               | CORP              | US        |     30000 | NS      | $1158600.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Home24 SE                           | Home24 SE                           | CUSIP: 000000000<br>LEI: 5299002T3WE6IWG0E854 | Long             | EC               | CORP              | DE        |      2000 | NS      | $15971.11     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796XS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15380000 | PA      | $15355289.42  | 11.88%            | 2023-01-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Parrot SA                           | Parrot SA                           | CUSIP: 000000000<br>LEI: 9695000KELLFSASOM232 | Long             | EC               | CORP              | FR        |     21000 | NS      | $97560.81     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Telesat Corp                        | Telesat Corp                        | CUSIP: 879512309<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     35047 | NS      | $262852.50    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ABIOMED Inc                         | ABIOMED Inc                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21000 | NS      | $31500.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Evo Payments Inc                    | Evo Payments Inc                    | CUSIP: 26927E104<br>LEI: 549300Z5UL344C8KEC55 | Long             | EC               | CORP              | US        |      6000 | NS      | $203040.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxar Technologies Inc              | Maxar Technologies Inc              | CUSIP: 57778K105<br>LEI: 549300OEN2G821MIJ922 | Long             | EC               | CORP              | US        |      2000 | NS      | $103480.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Oyster Point Pharma Inc             | Oyster Point Pharma Inc             | CUSIP: 69242L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115000 | NS      | $1284550.00   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796S34<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6122000 | PA      | $6106841.87   | 4.73%             | 2023-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Atlas Air Worldwide Holdings I      | Atlas Air Worldwide Holdings Inc    | CUSIP: 049164205<br>LEI: 549300R0A2TUVCYZB465 | Long             | EC               | CORP              | US        |     20000 | NS      | $2016000.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA ADAMAS PHARMACE              | CONTRA ADAMAS PHARMACE              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104000 | NS      | $5200.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Playtech Plc                        | Playtech Plc                        | CUSIP: 000000000<br>LEI: 21380068TTB6Z9ZEU548 | Long             | EC               | CORP              | IM        |      6000 | NS      | $36921.33     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| INNOCOLL                            | INNOCOLL                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $0.30         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TEGNA Inc                           | TEGNA Inc                           | CUSIP: 87901J105<br>LEI: 549300YC5EDBGX85AO10 | Long             | EC               | CORP              | US        |     88000 | NS      | $1864720.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCOR International Inc            | CIRCOR International Inc            | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |     10000 | NS      | $239600.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Ritchie Bros Auctioneers Inc        | Ritchie Bros Auctioneers Inc        | CUSIP: 767744105<br>LEI: 5493002H8U24DJXQ4886 | Short            | EC               | CORP              | CA        |     -4643 | NS      | $-268504.69   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Shaw Communications Inc             | Shaw Communications Inc             | CUSIP: 82028K200<br>LEI: 549300SCT0RG6178CI40 | Long             | EC               | CORP              | CA        |     65000 | NS      | $1872710.49   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC           | Flutter Entertainment PLC           | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |       500 | NS      | $68245.23     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MoneyGram International Inc         | MoneyGram International Inc         | CUSIP: 60935Y208<br>LEI: 5299002DLX0Q04KC4156 | Long             | EC               | CORP              | US        |    275000 | NS      | $2994750.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ipsen SA / Clementia CVR            | Ipsen SA / Clementia CVR            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125000 | NS      | $0.13         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Activision Blizzard Inc             | Activision Blizzard Inc             | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |      4000 | NS      | $306200.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamada Holdings Co Ltd              | Yamada Holdings Co Ltd              | CUSIP: 000000000<br>LEI: 353800MDZ4K1DQKLO464 | Long             | EC               | CORP              | JP        |     62000 | NS      | $220618.71    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NII Holdings Escrow                 | NII Holdings Escrow                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    713121 | NS      | $249592.35    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Iveco Group NV                      | Iveco Group NV                      | CUSIP: 000000000<br>LEI: 549300ZWF2ZJDD9EOR96 | Long             | EC               | CORP              | IT        |     40000 | NS      | $237982.44    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796T33<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21650000 | PA      | $21519859.90  | 16.66%            | 2023-02-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company | USD/GBP FORWARD                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4734.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| First Bank/Hamilton NJ              | First Bank/Hamilton NJ              | CUSIP: 31931U102<br>LEI: 549300YS4CB1171BRJ08 | Short            | EC               | CORP              | US        |     -6186 | NS      | $-85119.36    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796YM5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10875000 | PA      | $10763727.98  | 8.33%             | 2023-03-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings      | Clear Channel Outdoor Holdings Inc  | CUSIP: 18453H106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $105000.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796YK9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7655000 | PA      | $7596420.88   | 5.88%             | 2023-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Dell Technologies Inc               | Dell Technologies Inc               | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      8000 | NS      | $321760.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Cos Inc                  | Albertsons Cos Inc                  | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |      2000 | NS      | $41480.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| South Jersey Industries Inc         | South Jersey Industries Inc         | CUSIP: 838518108<br>LEI: 549300DJYWYT5VXLFA46 | Long             | EC               | CORP              | US        |      8500 | NS      | $302005.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| TEVA PHARM CCC 02/20/2023           | TEVA PHARM CCC 02/20/2023           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    346322 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ForgeRock Inc                       | ForgeRock Inc                       | CUSIP: 34631B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25000 | NS      | $569250.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LHC Group Inc                       | LHC Group Inc                       | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |       200 | NS      | $32338.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Myovant Sciences Ltd                | Myovant Sciences Ltd                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     40000 | NS      | $1078400.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796XT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2650000 | PA      | $2641603.18   | 2.04%             | 2023-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796YB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10924966.36  | 8.46%             | 2023-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alvopetro Energy Ltd/CA             | Alvopetro Energy Ltd/CA             | CUSIP: 02255Q209<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     13333 | NS      | $74050.34     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                       | United States Treasury Bill         | CUSIP: 912796ZG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10795238.85  | 8.36%             | 2023-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                     | AstraZeneca PLC                     | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      7000 | NS      | $474600.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Aareal Bank AG                      | Aareal Bank AG                      | CUSIP: 000000000<br>LEI: EZKODONU5TYHW4PP1R34 | Long             | EC               | CORP              | DE        |     17500 | NS      | $599452.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Knight Inc                    | Black Knight Inc                    | CUSIP: 09215C105<br>LEI: 549300TUSNXS3BFFML48 | Long             | EC               | CORP              | US        |     15000 | NS      | $926250.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Dawson Geophysical Co               | Dawson Geophysical Co               | CUSIP: 239360100<br>LEI: 549300R9G1EAMSMLXR09 | Long             | EC               | CORP              | US        |     75000 | NS      | $147000.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DCP Midstream LP                    | DCP Midstream LP                    | CUSIP: 23311P100<br>LEI: 52990024YYS3MLGW0E91 | Long             | EC               | CORP              | US        |       300 | NS      | $11637.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank and Trust Company | GBP/USD FORWARD                     | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6824.49     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fanhua Inc                          | Fanhua Inc                          | CUSIP: 30712A103<br>LEI: 254900NUPTYHZ8HHTK43 | Long             | EC               | CORP              | CN        |     11000 | NS      | $81400.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** GDL Fund

**Signature:** John C. Ball

**Name of Signer:** John C. Ball

**Title:** Treasurer