Form 4: Gabelli Trust Sees Preferred Share Shifts by Insider

Mario J. Gabelli reports significant changes in beneficial ownership of Gabelli Healthcare & WellnessRx Trust Series G Cumulative Preferred Shares.

Summary

• Mario J. Gabelli, a Director, 10% Owner, and Control Person of the Adviser, reported changes in his beneficial ownership of Gabelli Healthcare & WellnessRx Trust Series G Cumulative Preferred Shares.
• GAMCO Investors, Inc., an entity where Mr. Gabelli is Chairman, Chief Executive Officer, and controlling shareholder, acquired 100,000 Series G Cumulative Preferred Shares at a price of $10 per share on December 26, 2025.
• Following this acquisition, GAMCO Investors, Inc. beneficially owns 500,000 Series G Cumulative Preferred Shares.
• Associated Capital Group, Inc. (AC), another entity where Mr. Gabelli is Executive Chair and controlling shareholder, surrendered 500,000 Series G Cumulative Preferred Shares at a price of $10 per share on December 26, 2025.
• This surrender by Associated Capital Group, Inc. was executed in accordance with a Right to Put to the Fund up to 100% of Outstanding Series G Cumulative Preferred Shares.
• Following this disposition, Associated Capital Group, Inc. beneficially owns 1,500,000 Series G Cumulative Preferred Shares.
• Mr. Gabelli directly beneficially owns 200,000 Series G Cumulative Preferred Shares.
• Mr. Gabelli disclaims beneficial ownership of shares held by GAMCO Investors, Inc. and Associated Capital Group, Inc. in excess of his indirect pecuniary interest.

Sentiment

Score: 5

Explanation: The filing reports both an acquisition and a disposition of preferred shares by entities controlled by Mario J. Gabelli. The disposition was a surrender via a put right, which could be seen as a strategic reduction in exposure, balancing the acquisition, leading to a neutral overall sentiment.

Positives

• GAMCO Investors, Inc., an entity controlled by Mario J. Gabelli, acquired 100,000 Series G Cumulative Preferred Shares, indicating continued investment interest from a key insider's affiliated entity.

Negatives

• Associated Capital Group, Inc., another entity controlled by Mario J. Gabelli, surrendered 500,000 Series G Cumulative Preferred Shares, reducing its overall holding in the preferred shares.

Risks

• The surrender of 500,000 Series G Cumulative Preferred Shares by Associated Capital Group, Inc. via a 'Right to Put to the Fund' could be interpreted as a strategic decision to reduce exposure or a perceived lack of future upside for these specific shares, potentially signaling caution to the market.

Future Outlook

NA

Management Comments

• Mario J. Gabelli disclaims beneficial ownership of the shares held by GAMCO Investors, Inc. and Associated Capital Group, Inc. which are in excess of his indirect pecuniary interest.

Industry Context

NA

Related Party Transactions

• The reported transactions involve GAMCO Investors, Inc. and Associated Capital Group, Inc., both of which are controlled by the reporting person, Mario J. Gabelli, making these related party transactions.

Stakeholder Impact

• Shareholders: Changes in beneficial ownership by a significant insider and control person can influence market perception and potentially share price. The surrender of a large block of preferred shares via a put right might raise questions about the company's future prospects or the preferred shares' attractiveness.
• Company (Gabelli Healthcare & WellnessRx Trust): The fund received 500,000 Series G Cumulative Preferred Shares back from Associated Capital Group, Inc. as a result of the put right, which could impact its capital structure or the number of outstanding preferred shares.

Key Dates

Keywords

Gabelli Healthcare & WellnessRx Trust, GRX.G, Mario J. Gabelli, Form 4, beneficial ownership, preferred shares, Series G Cumulative Preferred Shares, GAMCO Investors, Associated Capital Group, insider transaction, SEC filing