Summary

• The Gabelli Convertible and Income Securities Fund's NAV finished a volatile quarter up 2.4%.
• For the trailing twelve months, the Fund outperformed the ICE BofA All Convertibles Index with NAV returns of 28.7% relative to the index at 25.0%.
• Following a strong 2025, convertibles moved higher in the first quarter, led by breakout performance from a few large equity-sensitive issues.

Investment Objective

The Gabelli Convertible and Income Securities Fund is a diversified, closed-end management investment company whose primary investment objective is to seek a high level of total return through a combination of current income and