Core Viewpoint - The Gabelli Global Small and Mid Cap Value Trust has approved an increase in its annualized distribution to $0.84 per share, reflecting a strong market total return of 25% year to date [1]. Distribution Policy - The Fund will pay a quarterly distribution of $0.21 per share starting December 19, 2025, for shareholders of record on December 12, 2025 [1]. - The Board of Trustees will determine the distribution amount each quarter and may also pay an adjusting distribution in December based on additional income and net realized capital gains [2]. Monitoring and Adjustments - The Board of Trustees reviews potential distributions quarterly, considering the Fund's net asset value and market conditions [3]. - The distribution policy is subject to modification by the Board at any time, and there is no guarantee that it will continue [3]. Tax Implications - Distributions may be treated as long-term capital gains or qualified dividend income, subject to a maximum federal income tax rate of 20% for individuals [4]. - Certain U.S. shareholders may incur a 3.8% Medicare surcharge on net investment income, which includes dividends and capital gains from the Fund [4]. Earnings and Return of Capital - If the Fund's earnings do not cover the total distributions, the excess amount will be deemed a return of capital, generally not taxable and reducing the shareholder's cost basis [5]. - In 2025, distributions to common shareholders are estimated to consist of approximately 24% from net investment income, 38% from net capital gains, and 38% as a return of capital [6]. Fund Overview - The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with total net assets of $169 million, primarily aiming for long-term capital growth [7]. - The Fund invests at least 80% of its total assets in equity securities of small or medium-sized companies [7].

Core Points - The Gabelli Healthcare & Wellness Trust declared a cash distribution of $0.17 per share, payable on December 19, 2025, to shareholders of record on December 12, 2025 [1] - The Fund aims to pay quarterly distributions determined by the Board of Trustees, with potential additional distributions in December based on excess income and net realized capital gains [2] - The Board of Trustees reviews potential distributions each quarter, considering the Fund's net asset value and market conditions, with the distribution policy subject to modification or termination [3] Distribution Details - Distributions may be treated as long-term capital gains or qualified dividend income, subject to federal income tax rates, including a potential 3.8% Medicare surcharge for certain high-income shareholders [4] - If the Fund's earnings do not cover the total distributions in a year, the excess amount will be considered a return of capital, generally not taxable and reducing the shareholder's cost basis [5] - In 2025, distributions to common shareholders are estimated to consist of approximately 5% from net investment income and 95% from net capital gains, with final determinations made after year-end [6] Fund Overview - The Gabelli Healthcare & Wellness Trust is a diversified, closed-end management investment company with total net assets of $215 million, focusing on long-term capital growth [7]

Core Viewpoint - Firsthand Technology Value Fund, Inc. reported a decline in net assets and investment performance for the quarter ended March 31, 2025, indicating challenges in its portfolio management and market conditions [1][2][5]. Financial Summary - As of March 31, 2025, the Fund's net assets were approximately $0.8 million, or $0.12 per share, down from $1.1 million, or $0.15 per share as of December 31, 2024 [2]. - The Fund's total assets were valued at approximately $1.49 million, with total liabilities of $0.65 million, resulting in net assets of $0.84 million [3]. - The Fund reported total investment income of approximately $6 thousand for the quarter, with a net investment loss of approximately $113 thousand and net realized and unrealized losses on investments of approximately $110 thousand [5]. Portfolio Management - The Valuation Committee adjusted the fair values of private companies in the portfolio, considering performance, recent transactions, and market multiples [4]. - The Fund continued to manage its portfolio prudently, collaborating with portfolio companies to enhance performance and identify exit opportunities [6]. Company Overview - Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund focused on technology and cleantech investments, aiming for long-term capital growth [7][8].