The Gabelli Global Small and Mid Cap Value Trust filings document the formal disclosure record of a Delaware statutory trust and closed-end fund with common shares of beneficial interest listed on the New York Stock Exchange under GGZ. Proxy materials cover annual shareholder meeting procedures, voting matters and fund governance.
Material-event reports address adviser-related continuity, portfolio management oversight and other fund-level disclosures tied to the trust's operations, governance structure and listed security status.
The Gabelli Global Small and Mid Cap Value Trust reported a health update and leadership arrangements involving its longtime portfolio leader, Mario J. Gabelli. He was hospitalized for observation and testing after a medical incident on March 19, 2026, and his condition is described as improving, though his return date is not yet known.
GAMCO Investors, Inc. activated its longstanding succession plan on March 22, 2026, naming Christopher J. Marangi as President of GAMCO. Day-to-day operations at GAMCO are being led by co-CEO Douglas R. Jamieson and Mr. Marangi, while the Fund’s portfolio is being managed by Gabelli Value team Co-Chief Investment Officers Kevin V. Dreyer and Mr. Marangi. The Fund also states that this information is incorporated by reference into its effective registration statement.
The Gabelli Global Small and Mid Cap Value Trust is asking shareholders to vote at its Annual Meeting on May 11, 2026 at Indian Harbor Yacht Club in Greenwich, Connecticut. The main item is electing three trustees—Mario J. Gabelli, James P. Conn, and Salvatore J. Zizza—to terms ending at the 2029 meeting.
Common and 5.20% Series E Cumulative Preferred shareholders vote together as a single class, with one vote per share. As of the March 12, 2026 record date, there were 7,640,349 common shares and 4,000,000 Series E preferred shares outstanding. GAMCO Investors and affiliates beneficially owned 36.8% of the common shares and 49.5% of the preferred shares.
The Board, a majority of whom are independent, recommends voting “FOR” all three nominees. PricewaterhouseCoopers LLP remains the independent auditor, with $34,949 in audit fees and $4,725 in tax fees for 2025. The proxy also details governance practices, committee structures, trustee compensation, and how Delaware’s control share statute may limit voting rights for large new share accumulations.
Mario Gabelli and affiliated entities report beneficial ownership of 2,812,797 Gabelli Global Small & Mid Cap Value Trust common shares, representing 36.49% of the 7,707,620 shares outstanding as of March 9, 2026. The filing states this higher ownership percentage results solely from a decrease in shares outstanding reported by the fund, not from new share purchases. Within this total, Mario Gabelli individually is reported as beneficially owning 2,678,111 shares, or 34.75% of the fund’s common shares. The Schedule 13D/A notes that there were no transactions in the securities by the reporting persons during the past 60 days.
The Gabelli Global Small and Mid Cap Value Trust reported strong full‑year results for the period ended December 31, 2025, with a NAV total return of 21.41% and an investment (market) total return of 34.74%. NAV per share was $16.55 with the market price at $15.00. The Fund held $168.43M of investments and $27.68M in U.S. Treasury bills; net assets attributable to common shareholders were $127.55M. Net investment income was $471,692 and net realized and unrealized gains totaled $22.87M. The Fund issued 4,000,000 Series E preferred shares and redeemed its Series B preferred shares during the year.
Mario J. Gabelli reported purchases of Series E Cumulative Preferred Shares of Gabelli Global Small & Mid Cap Value Trust (GGZ). The filing shows a direct purchase of 750,000 shares at $10 per share and additional indirect acquisitions through affiliated entities: 200,000 shares held by Associated Capital Group, Inc., 100,000 held by GGCP, Inc., and 100,000 held by CIBL, Inc., each at $10 per share. The explanatory notes state Mr. Gabelli’s roles with those entities and that he disclaims beneficial ownership of shares held by those entities beyond his indirect pecuniary interest.
Mario J. Gabelli reported the redemption of Series B Cumulative Preferred Shares on September 26, 2025. The filing shows three disposals related to the mandatory redemption: 473,596 shares were disposed of directly; 70,600 shares were disposed of indirectly through Associated Capital Group, Inc.; and 88,200 shares were disposed of indirectly through GGCP, Inc. Each share had a $10 liquidation price and the post-transaction beneficial ownership for those reported positions is shown as 0. The filing discloses Mr. Gabelli's roles: director, 10% owner, and control person of advisers, and explains he disclaims beneficial ownership of amounts in excess of his indirect pecuniary interest in the two entities.
Kevin V. Dreyer, a director at GAMCO Investors reporting for Gabelli Global Small & Mid Cap Value Trust (GGZ), reported the mandatory redemption of Series B Cumulative Preferred Shares. On 09/26/2025 Mr. Dreyer disposed of 1,800 Series B preferred shares at a redemption price of $10 per share, and the filing shows 0 shares beneficially owned following the transaction. The Form 4 indicates the redemption was required under the mandatory redemption of the outstanding Series B shares and is signed by Kevin V. Dreyer on 09/29/2025.