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 811-08476
-----------
The Gabelli Global Multimedia Trust Inc.
------------------------------------
(Exact name of registrant as specified in charter)
One Corporate Center
Rye, New York 10580-1422
------------------------------------
(Address of principal executive offices) (Zip code)
Bruce N. Alpert
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422
------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: 1-800-422-3554
----------------
Date of fiscal year end: December 31
-------------
Date of reporting period: September 30, 2005
------------------
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, 450 Fifth Street, NW, Washington,
DC 20549-0609. 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.
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS -- 98.6%
COPYRIGHT/CREATIVITY COMPANIES -- 44.8%
BUSINESS SERVICES: ADVERTISING -- 0.4%
5,000 Donnelley (R.H.) Corp.+ .........$ 316,300
20,000 Harte-Hanks Inc. ................ 528,600
4,200 Havas SA ........................ 21,302
2,000 Publicis Groupe ................. 63,650
------------
929,852
------------
COMPUTER SOFTWARE AND SERVICES -- 3.8%
40,000 Activision Inc.+ ................ 818,000
5,000 America Online
Latin America Inc.,
Cl. A+ ........................ 150
3,000 Atlus Co. Ltd. .................. 16,385
9,473 CNET Networks Inc.+ ............. 128,548
3,230 EarthLink Inc.+ ................. 34,561
10,200 Electronic Arts Inc.+ ........... 580,278
1,000 EMC Corp.+ ...................... 12,940
100 Google Inc., Cl. A+ ............. 31,646
10,000 Jupitermedia Corp.+ ............. 177,100
1,000 Maxtor Corp.+ ................... 4,400
60,000 Microsoft Corp. ................. 1,543,800
13,800 Mobius Management
Systems Inc.+ ................. 72,450
3,000 NAVTEQ Corp.+ ................... 149,850
2,000 Pixar+ .......................... 89,020
140,000 Yahoo! Inc.+ .................... 4,737,600
------------
8,396,728
------------
CONSUMER PRODUCTS -- 0.2%
6,000 Department 56 Inc.+ ............. 75,000
400 eBay Inc.+ ...................... 16,480
18,000 Mattel Inc. ..................... 300,240
------------
391,720
------------
ELECTRONICS -- 1.6%
5,000 Freescale Semiconductor Inc.,
Cl. B+ ........................ 117,900
1,000 Imax Corp.+ ..................... 10,430
5,000 Intel Corp. ..................... 123,250
3,570 Royal Philips Electronics
NV, ADR ....................... 95,248
10,000 Samsung Electronics Co.
Ltd., GDR (b) ................. 2,822,852
6,000 Sony Corp., ADR ................. 199,140
6,000 Zoran Corp.+ .................... 85,800
------------
3,454,620
------------
ENTERTAINMENT -- 12.8%
6,000 Aruze Corp. ..................... 96,987
60,000 Canal Plus, ADR+ ................ 111,000
1,161 Corporacion Interamericana de
Entretenimiento SA de CV,
Cl. B+ ........................ 2,548
25,000 Crown Media Holdings Inc.,
Cl. A+ ........................ 273,750
MARKET
SHARES VALUE*
-------- --------
31,622 EMI Group plc ...................$ 135,254
30,000 EMI Group plc, ADR .............. 257,403
250,000 Gemstar-TV Guide
International Inc.+ ........... 740,000
70,000 GMM Grammy Public Co. Ltd. ...... 21,489
481 Henley LP+ (c) .................. 1,443
77,843 Liberty Global Inc., Cl. A+ ..... 2,107,988
77,843 Liberty Global Inc., Cl. C+ ..... 2,004,457
722,715 Liberty Media Corp., Cl. A+ ..... 5,817,856
100,000 Shaw Brothers (Hong Kong) Ltd. .. 125,043
90,000 Six Flags Inc.+ ................. 647,100
70,000 SMG plc ......................... 115,749
85,000 The Walt Disney Co. ............. 2,051,050
200,000 Time Warner Inc. ................ 3,622,000
140,000 Viacom Inc., Cl. A .............. 4,650,800
166,000 Vivendi Universal SA, ADR ....... 5,433,180
4,000 World Wrestling
Entertainment Inc. ............ 52,000
------------
28,267,097
------------
FINANCIAL SERVICES -- 0.2%
20,000 H&R Block Inc. .................. 479,600
------------
HOTELS AND GAMING -- 11.5%
20,000 Argosy Gaming Co.+ .............. 939,800
8,000 Aztar Corp.+ .................... 246,480
12,000 Boyd Gaming Corp. ............... 517,440
13,000 Churchill Downs Inc. ............ 459,160
165,000 Gaylord Entertainment Co.+ ...... 7,862,250
5,000 Greek Organization of Football
Prognostics SA ................ 155,279
32,000 GTECH Holdings Corp. ............ 1,025,920
5,528 Harrah's Entertainment Inc. ..... 360,370
850,000 Hilton Group plc ................ 4,715,057
110,000 International Game Technology ... 2,970,000
10,000 Kerzner International Ltd.+ ..... 555,500
19,000 Las Vegas Sands Corp.+ .......... 625,290
55,000 Magna Entertainment Corp.,
Cl. A+ ........................ 366,300
78,000 MGM Mirage+ ..................... 3,414,060
36,900 Pinnacle Entertainment Inc.+ .... 676,377
6,000 Starwood Hotels & Resorts
Worldwide Inc. ................ 343,020
------------
25,232,303
------------
PUBLISHING -- 14.3%
20,000 Arnoldo Mondadori Editore SpA ... 200,348
98,000 Belo Corp., Cl. A ............... 2,240,280
10,000 Dow Jones & Co. Inc. ............ 381,900
20,000 EMAP plc ........................ 290,320
15,000 Gannett Co. Inc. ................ 1,032,450
2,833 Golden Books Family
Entertainment Inc.+ ........... 6
2,000 Hollinger International Inc.,
Cl. A ......................... 19,600
144,400 Independent News & Media plc .... 421,720
2
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
COPYRIGHT/CREATIVITY COMPANIES (CONTINUED)
PUBLISHING (CONTINUED)
12,000 Journal Register Co. ............$ 194,160
15,000 Knight-Ridder Inc. .............. 880,200
50,000 Lee Enterprises Inc. ............ 2,124,000
19,000 McClatchy Co., Cl. A ............ 1,239,370
40,000 McGraw-Hill Companies Inc. ...... 1,921,600
33,000 Media General Inc., Cl. A ....... 1,914,330
27,000 Meredith Corp. .................. 1,347,030
100,000 Nation Multimedia Group plc ..... 28,262
100,000 New Straits Times Press Berhad .. 82,250
326,414 News Corp., Cl. A ............... 5,088,794
40,000 News Corp., Cl. B ............... 660,000
150,000 Oriental Press Group Ltd. ....... 33,259
100,000 Penton Media Inc.+ .............. 50,000
10,000 Playboy Enterprises Inc.,
Cl. A+ ........................ 124,000
974,000 Post Publishing plc ............. 191,027
200,000 PRIMEDIA Inc.+ .................. 818,000
90,000 Reader's Digest
Association Inc. .............. 1,437,300
1,000 Scholastic Corp.+ ............... 36,960
251,520 SCMP Group Ltd. ................. 94,028
64,000 Scripps (E.W.) Co., Cl. A ....... 3,198,080
252,671 Singapore Press Holdings Ltd. ... 689,897
300 Spir Communication .............. 60,753
15,000 Telegraaf Media Groep NV ........ 365,062
45,000 Thomas Nelson Inc. .............. 844,200
84,000 Tribune Co. ..................... 2,846,760
12,352 United Business Media plc ....... 120,587
10,000 VNU NV .......................... 314,284
800 Wiley (John) & Sons Inc.,
Cl. B ......................... 33,320
4,000 Wolters Kluwer NV - CVA ......... 74,419
------------
31,398,556
------------
TOTAL COPYRIGHT/CREATIVITY
COMPANIES ..................... 98,550,476
------------
DISTRIBUTION COMPANIES -- 53.8%
BROADCASTING -- 10.7%
1,560 Asahi Broadcasting Corp. ........ 166,279
18,000 CanWest Global Communications
Corp.+ ........................ 202,320
18,000 CanWest Global Communications Corp.,
Sub-Voting+ ................... 201,290
6,400 Chubu-Nippon Broadcasting
Co., Ltd. ..................... 74,137
5,000 Clear Channel
Communications Inc. ........... 164,450
20,000 Cogeco Inc. ..................... 468,817
8,333 Corus Entertainment Inc.,
Cl. B ......................... 241,137
9,000 Cox Radio Inc., Cl. A+ .......... 136,800
72,271 Discovery Holding Co., Cl. A+ ... 1,043,587
166 Emmis Communications Corp.,
Cl. A+ ........................ 3,667
30,020 Fisher Communications Inc.+ ..... 1,397,731
MARKET
SHARES VALUE*
-------- --------
228 Fuji Television Network Inc. ....$ 510,148
60,000 Granite Broadcasting Corp.+ ..... 23,400
95,000 Gray Television Inc. ............ 1,006,050
10,000 Gray Television Inc., Cl. A ..... 99,000
10,000 Grupo Radio Centro,
SA de CV, ADR+ ................ 73,900
30,000 Hearst-Argyle Television Inc. ... 770,700
4,550 Lagardere SCA ................... 322,910
151,000 Liberty Corp. ................... 7,080,390
52,000 Lin TV Corp., Cl. A+ ............ 725,400
5,140 Media Prima Berhad+ ............. 2,182
4,000 Metropole Television SA ......... 101,004
7,000 Nippon Television
Network Corp. ................. 1,077,255
4,650 NRJ Group ....................... 100,595
1,000 NTN Communications Inc.+ ........ 1,540
80,000 Paxson Communications Corp.+ .... 36,000
500 Radio One Inc., Cl. A+ .......... 6,578
1,000 Radio One Inc., Cl. D+ .......... 13,150
1,500 RTL Group (Brussels) ............ 113,575
3,500 RTL Group (New York) ............ 270,477
1,906 SAGA Communications Inc.,
Cl. A+ ........................ 25,350
79,000 Salem Communications Corp.,
Cl. A+ ........................ 1,456,760
2,000 SBS Broadcasting SA+ ............ 108,720
80,000 Sinclair Broadcast
Group Inc., Cl. A ............. 709,600
25,000 Societe Television Francaise 1 .. 663,121
5,000 Spanish Broadcasting System Inc.,
Cl. A+ ........................ 35,900
50,000 Television Broadcasts Ltd. ...... 305,839
110,000 Tokyo Broadcasting System Inc. .. 2,553,295
258 TV Asahi Corp. .................. 656,818
15,000 TV Azteca, SA de CV, ADR ........ 130,500
26,000 Ulster Television plc ........... 209,574
50,000 Young Broadcasting Inc.,
Cl. A+ ........................ 174,500
------------
23,464,446
------------
BUSINESS SERVICES -- 0.6%
15,000 BB Holdings Ltd. ................ 100,665
6,000 Carlisle Group Ltd.+ ............ 16,932
40,000 Cendant Corp. ................... 825,600
500 CheckFree Corp.+ ................ 18,910
1,000 Convergys Corp.+ ................ 14,370
500 Dun and Bradstreet Corp.+ ....... 32,935
8,000 Interactive Data Corp. .......... 181,200
2,000 Moody's Corp. ................... 102,160
2,500 Traffix Inc. .................... 15,575
------------
1,308,347
------------
CABLE -- 9.2%
16,578 Austar United
Communications Ltd.+ .......... 15,361
200,000 Cablevision Systems Corp.,
Cl. A+ ........................ 6,134,000
30,000 Charter Communications Inc.,
Cl. A+ ........................ 45,000
40,400 Cogeco Cable Inc. ............... 1,064,127
3
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
DISTRIBUTION COMPANIES (CONTINUED)
CABLE (CONTINUED)
35,000 Comcast Corp., Cl. A+ ...........$ 1,028,300
7,000 Comcast Corp., Cl. A, Special+ .. 201,460
15,000 Mediacom Communications Corp.,
Cl. A+ ........................ 110,700
258,345 Rogers Communications Inc.,
Cl. B, New York ............... 10,191,710
9,655 Rogers Communications Inc.,
Cl. B, Toronto ................ 380,054
11,000 Shaw Communications Inc., Cl. B,
New York ...................... 230,670
39,000 Shaw Communications Inc., Cl. B,
Toronto ....................... 815,226
28 Telewest Global Inc.+ ........... 643
------------
20,217,251
------------
CONSUMER SERVICES -- 2.0%
4,000 Bowlin Travel Centers Inc.+ ..... 6,500
94,204 Expedia Inc.+ ................... 1,866,181
94,204 IAC/InterActiveCorp+ ............ 2,388,072
2,000 Martha Stewart Living
Omnimedia Inc.,
Cl. A+ ........................ 50,040
4,000 TiVo Inc.+ ...................... 21,960
------------
4,332,753
------------
DIVERSIFIED INDUSTRIAL -- 1.4%
42,000 Bouygues SA ..................... 1,951,974
18,432 Contax Participacoes SA, ADR+ ... 11,450
30,000 General Electric Co. ............ 1,010,100
7,700 Hutchison Whampoa Ltd. .......... 79,657
7,908 Malaysian Resources
Corp. Berhad+ ................. 1,374
------------
3,054,555
------------
ENERGY AND UTILITIES -- 0.3%
30,000 El Paso Electric Co.+ ........... 625,500
------------
ENTERTAINMENT -- 6.2%
4,000 Blockbuster Inc., Cl. A ......... 19,000
3,150 British Sky Broadcasting Group
plc, ADR ...................... 124,393
46,000 DreamWorks Animation
SKG Inc., Cl. A+ .............. 1,272,360
100,000 GC Companies Inc.+ .............. 86,000
145,000 Grupo Televisa SA, ADR .......... 10,397,950
200,000 Rank Group plc .................. 1,052,984
13,000 Regal Entertainment Group,
Cl. A ......................... 260,520
20,000 Univision Communications Inc.,
Cl. A+ ........................ 530,600
------------
13,743,807
------------
EQUIPMENT -- 2.4%
10,000 Agere Systems Inc.+ ............. 104,100
11,450 American Tower Corp., Cl. A+ .... 285,677
1,000 Amphenol Corp., Cl. A ........... 40,340
MARKET
SHARES VALUE*
-------- --------
30,000 Andrew Corp.+ ...................$ 334,500
416 Avaya Inc.+ ..................... 4,285
2,000 CommScope Inc.+ ................. 34,680
90,000 Corning Inc.+ ................... 1,739,700
3,000 Furukawa Electric Co. Ltd.+ ..... 15,196
1,500 L-3 Communications Holdings Inc. 118,605
80,000 Lucent Technologies Inc.+ ....... 260,000
60,000 Motorola Inc. ................... 1,325,400
30,000 Nortel Networks Corp.+ .......... 97,800
12,000 QUALCOMM Inc. ................... 537,000
6,000 Scientific-Atlanta Inc. ......... 225,060
40,000 Sycamore Networks Inc.+ ......... 150,800
200 Trestle Holdings Inc.+ .......... 144
------------
5,273,287
------------
FOOD AND BEVERAGE -- 0.0%
5,282 Compass Group plc ............... 19,215
540 Pernod-Ricard SA ................ 95,338
------------
114,553
------------
SATELLITE -- 1.4%
300 Asia Satellite Telecommunications
Holdings Ltd., ADR ............ 5,628
80,000 DIRECTV Group Inc.+ ............. 1,198,400
40,000 EchoStar Communications Corp.,
Cl. A ......................... 1,182,800
8,000 Lockheed Martin Corp. ........... 488,320
3,000 Loral Space &
Communications Ltd.+ .......... 210
27,200 Pegasus Communications Corp.,
Cl. A+ ........................ 89,488
6,000 PT Indosat Tbk, ADR ............. 150,000
30 SKY Perfect Communications Inc. . 23,520
------------
3,138,366
------------
TELECOMMUNICATIONS: LONG DISTANCE -- 2.4%
30,000 AT&T Corp. ...................... 594,000
1,000 Embratel Participacoes SA, ADR+ . 11,650
35,000 Philippine Long Distance
Telephone Co., ADR ............ 1,065,750
65,000 Sprint Nextel Corp. ............. 1,545,700
1,000 Startec Global
Communications Corp.+ ......... 2
1,666 Talk America Holdings Inc.+ ..... 15,710
605,500 Telecom Italia SpA .............. 1,968,485
------------
5,201,297
------------
TELECOMMUNICATIONS: NATIONAL -- 4.8%
9,000 BT Group plc, ADR ............... 356,760
5,000 China Telecom Corp. Ltd., ADR ... 188,450
5,000 China Unicom Ltd., ADR .......... 41,400
40,000 Compania de Telecomunicaciones de
Chile SA, ADR ................. 434,000
162,000 Deutsche Telekom AG, ADR ........ 2,954,880
50,000 Elisa Oyj, Cl. A ................ 864,131
3,000 France Telecom SA, ADR .......... 86,250
4
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
DISTRIBUTION COMPANIES (CONTINUED)
TELECOMMUNICATIONS: NATIONAL (CONTINUED)
3,305 Hellenic Telecommunications
Organization SA+ ..............$ 66,096
500 Magyar Telekom, ADR ............. 12,865
20 Nippon Telegraph &
Telephone Corp. ............... 98,309
4,320 PT Telekomunikasi
Indonesia, ADR ................ 89,899
6,000 Rostelecom, ADR ................. 89,880
45,000 Swisscom AG, ADR ................ 1,475,100
2,000 Telecom Corp. of New Zealand
Ltd., ADR ..................... 67,200
57,200 Telefonica SA, ADR .............. 2,821,104
38,000 Telefonos de Mexico SA de CV,
Cl. L, ADR .................... 808,260
18,172 TeliaSonera AB .................. 86,241
2,400 Telstra Corp. Ltd., ADR ......... 37,368
------------
10,578,193
------------
TELECOMMUNICATIONS: REGIONAL -- 8.4%
4,266 Aliant Inc. ..................... 105,173
15,025 ALLTEL Corp. .................... 978,278
9,557 ATX Communications Inc.+ ........ 109
38,000 BCE Inc. ........................ 1,042,720
4,000 Brasil Telecom Participacoes
SA, ADR ....................... 170,120
45,000 CenturyTel Inc. ................. 1,574,100
2,000 Choice One
Communications Inc.+ .......... 0
110,000 Cincinnati Bell Inc.+ ........... 485,100
135,000 Citizens Communications Co. ..... 1,829,250
50,000 Commonwealth Telephone
Enterprises Inc. .............. 1,885,000
5,000 MCI Inc. ........................ 126,850
3,000 Metromedia International
Group Inc.+ ................... 5,520
345,000 Qwest Communications
International Inc.+ ........... 1,414,500
6,000 SBC Communications Inc. ......... 143,820
18,432 Tele Norte Leste Participacoes
SA, ADR ....................... 304,681
10,000 Telecom Argentina SA,
Cl. B, ADR+ ................... 129,100
68,000 Telephone & Data
Systems Inc. .................. 2,652,000
68,000 Telephone & Data
Systems Inc.,
Special ....................... 2,553,400
45,000 TELUS Corp. ..................... 1,877,806
4,000 Time Warner Telecom Inc.,
Cl. A+ ........................ 31,200
40,000 Verizon Communications Inc. ..... 1,307,600
------------
18,616,327
------------
WIRELESS COMMUNICATIONS -- 4.0%
102,000 America Movil SA de CV,
Cl. L, ADR .................... 2,684,640
102 Hutchison Telecommunications
International Ltd.+ ........... 148
240,000 Jasmine International Public
Co. Ltd.+ (c) ................. 2,807
MARKET
SHARES VALUE*
-------- --------
500 NTT DoCoMo Inc. .................$ 889,711
296,000 O2 plc .......................... 823,585
31,500 Price Communications Corp.+ ..... 518,175
10,800 Rural Cellular Corp., Cl. A+ .... 131,328
37,000 SK Telecom Co. Ltd., ADR ........ 808,080
2,449 Tele Centro Oeste Celular
Participacoes SA, ADR ......... 22,188
190 Tele Leste Celular Participacoes
SA, ADR+ ...................... 1,262
330 Tele Norte Celular Participacoes
SA, ADR+ ...................... 2,491
825 Telemig Celular Participacoes
SA, ADR ....................... 27,885
8,913 Telesp Celular Participacoes
SA, ADR ....................... 34,850
3,178 Tim Participacoes SA, ADR ....... 59,047
15,000 Total Access Communication
plc+ .......................... 48,300
30,000 United States Cellular Corp.+ ... 1,602,600
18,000 Vimpel-Communications, ADR+ ..... 799,920
12,650 Vodafone Group plc, ADR ......... 328,520
------------
8,785,537
------------
TOTAL DISTRIBUTION
COMPANIES ..................... 118,454,219
------------
TOTAL COMMON STOCKS ............. 217,004,695
------------
PREFERRED STOCKS -- 0.7%
BROADCASTING -- 0.5%
1,063 Granite Broadcasting Corp.,
12.750% Pfd.+ (c) ............. 170,080
100 Gray Television Inc.,
8.000% Cv. Pfd.,
Ser. C (b)(c)(d) .............. 1,010,000
------------
1,180,080
------------
BUSINESS SERVICES -- 0.2%
11,241 Interep National Radio Sales Inc.,
4.000% Cv. Pfd.,
Ser. A+ (b)(c)(d) ............. 393,450
------------
TOTAL PREFERRED STOCKS .......... 1,573,530
------------
RIGHTS -- 0.0%
BROADCASTING -- 0.0%
5,140 Media Prima Berhad,
expire 07/18/08 + ............. 1,432
------------
WARRANTS -- 0.0%
BROADCASTING -- 0.0%
5,140 Media Prima Berhad,
expire 07/31/08+ .............. 668
------------
BUSINESS SERVICES -- 0.0%
62,500 Interep National
Radio Sales Inc.,
expire 05/06/07+ (b)(d) ....... 0
------------
5
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
WARRANTS (CONTINUED)
COMMUNICATIONS EQUIPMENT -- 0.0%
541 Lucent Technologies Inc.,
expire 12/10/07+ ..............$ 514
------------
PUBLISHING -- 0.0%
25,000 Nation Multimedia Group plc,
expire 08/22/07+ .............. 694
------------
TOTAL WARRANTS .................. 1,876
------------
PRINCIPAL
AMOUNT
-------
CONVERTIBLE CORPORATE BONDS -- 0.4%
BUSINESS SERVICES -- 0.4%
$ 50,000 BBN Corp., Sub. Deb. Cv.,
6.000%, 04/01/12+ (a)(c) ...... 0
Trans-Lux Corp.,
Sub. Deb. Cv.,
300,000 8.250%, 03/01/12 .............. 294,375
500,000 7.500%, 12/01/06 .............. 498,750
TOTAL CONVERTIBLE
CORPORATE BONDS ............... 793,125
------------
U.S. GOVERNMENT OBLIGATIONS -- 0.3%
765,000 U.S. Treasury Bills,
3.370% to 3.482%++,
11/03/05 to 12/29/05 .......... 760,246
------------
TOTAL INVESTMENTS -- 100.0%
(Cost $159,141,173) .......................$220,134,904
============
--------------
For Federal tax purposes:
Aggregate cost .....................$162,469,628
============
Gross unrealized appreciation ......$ 67,894,646
Gross unrealized depreciation ...... (10,229,370)
------------
Net unrealized appreciation
(depreciation) ...................$ 57,665,276
============
--------------
(a) Security in default.
(b) Security exempt from registration under Rule 144A of the Securities Act
of 1933, as amended. These securities may be resold in transactions
exempt from registration, normally to qualified institutional buyers.
At September 30, 2005, the market value of Rule 144A securities
amounted to $4,226,302 or 1.92% of total investments. Except as noted
in (d), these securities are liquid.
(c) Security fair valued under procedures established by the Board of
Directors. The procedures may include reviewing available financial
information about the company and reviewing valuation of comparable
securities and other factors on a regular basis. At September 30, 2005,
the market value of fair valued securities amounted to $1,577,780 or
0.72% of total investments.
(d) At September 30, 2005, the Fund held restricted and illiquid securities
amounting to $1,403,450 or 0.64% of net assets, which were valued
under methods approved by the Board, as follows:
09/30/2005
ACQUISITION ACQUISITION ACQUISITION CARRYING VALUE
SHARES ISSUER DATE COST PER UNIT
------ ------ ---- ---- --------
100 Gray Television Inc.,
8.000% Cv. Pfd., Ser. C .... 04/22/02 $1,000,000 $10,100.0000
11,241 Interep National
Radio Sales Inc.,
4.000% Cv. Pfd., Ser. A .... 05/03/02 1,081,573 35.0013
62,500 Interep National
Radio Sales Inc.
Warrants expire 05/06/07 ... 05/03/02 -- --
+ Non-income producing security.
++ Represents annualized yield at date of purchase.
ADR American Depository Receipt
GDR Global Depository Receipt
* Portfolio securities are valued at the last quoted sale price or
closing values. If these are unavailable, then the average of the
closing bid and asked prices is used. If there is no asked price, the
security is valued at the closing bid price on that day. Debt
instruments are valued at the average of the closing bid and asked
prices. If the security matures in 60 days or less and is not
credit-impaired, it is valued at amortized cost. All securities and
assets for which market quotations are not readily available or any
security that the Board determines does not reflect its fair market
value are valued in good faith under procedures established by the
Board.
% OF
MARKET MARKET
VALUE VALUE
------ -------
GEOGRAPHIC DIVERSIFICATION
North America .................. 72.7% $160,060,116
Europe ......................... 14.0 30,835,244
Latin America .................. 7.2 15,862,023
Asia/Pacific ................... 3.2 7,000,342
Japan .......................... 2.9 6,377,179
------ ------------
Total Investments .............. 100.0% $220,134,904
====== ============
6
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 Multimedia Trust Inc.
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By (Signature and Title)* /s/ Bruce N. Alpert
-------------------------------------------------------
Bruce N. Alpert, Principal Executive Officer
Date November 28, 2005
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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
-------------------------------------------------------
Bruce N. Alpert, Principal Executive Officer &
Principal Financial Officer
Date November 28, 2005
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* Print the name and title of each signing officer under his or her signature.