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
811-21698
GAMCO Global Gold,
Natural Resources & Income Trust
(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)
Registrants telephone number, including area code:1-800-422-3554
Date of fiscal year end: December 31
Date of reporting period: September 30, 2015
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§
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, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C.
§ 3507.
Item 1. Schedule of Investments.
The Schedule(s) of Investments is attached herewith.
GAMCO Global Gold, Natural Resources & Income Trust
Third Quarter Report September 30, 2015
(Y)our Portfolio Management Team
To Our Shareholders,
For the quarter ended September 30, 2015, the net asset value (NAV) total return of the GAMCO Global Gold, Natural
Resources & Income Trust (the Fund) was (19.5)%, compared with total returns of (2.4)% and (26.8)% for the Chicago Board Options Exchange (CBOE) Standard & Poors (S&P) 500 Buy/Write
Index and the Philadelphia Gold & Silver (XAU) Index, respectively. The total return for the Funds publicly traded shares was (20.3)%. The Funds NAV per share was $5.58, while the price of the publicly traded shares
closed at $4.99 on the NYSE MKT. See below for additional performance information.
Enclosed is the schedule of investments as of
September 30, 2015.
Comparative Results
|
|
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|
|
|
|
|
|
|
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|
|
|
|
|
|
Average Annual Returns through September 30, 2015 (a)
(Unaudited) |
|
Since |
|
|
Quarter |
|
|
1 Year |
|
|
5 Year |
|
|
10 Year |
|
Inception
(03/31/05) |
GAMCO Global Gold, Natural Resources & Income Trust |
|
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|
|
|
|
|
|
NAV Total Return (b) |
|
|
(19.46 |
)% |
|
|
(32.63 |
)% |
|
|
(10.16 |
)% |
|
(2.95)% |
|
(1.47)% |
Investment Total Return (c) |
|
|
(20.25 |
) |
|
|
(38.46 |
) |
|
|
(12.49 |
) |
|
(4.24) |
|
(2.96) |
CBOE S&P 500 Buy/Write Index |
|
|
(2.38 |
) |
|
|
0.36 |
|
|
|
7.32 |
|
|
4.24 |
|
4.62 |
Barclays Government/Credit Bond Index |
|
|
1.37 |
|
|
|
2.91 |
|
|
|
3.08 |
|
|
4.58 |
|
4.59 |
Amex Energy Select Sector Index |
|
|
(17.87 |
) |
|
|
(30.46 |
) |
|
|
3.95 |
|
|
3.32 |
|
5.45 |
XAU Index |
|
|
(26.75 |
) |
|
|
(42.98 |
) |
|
|
(25.16 |
) |
|
(8.54) |
|
(6.51) |
|
(a) |
Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. When
shares are sold, they may be worth more or less than their original cost. Current performance may be lower or higher than the performance data presented. Visit www.gabelli.com for performance information as of the most recent month end. Performance
returns for periods of less than one year are not annualized. Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. The CBOE S&P 500 Buy/Write Index is an unmanaged
benchmark index designed to reflect the return on a portfolio that consists of a long position in the stocks in the S&P 500 Index and a short position in a S&P 500 (SPX) call option. The Barclays Government/Credit Bond Index is a market
value weighted index that tracks the performance of fixed rate, publicly placed, dollar denominated obligations. The XAU Index is an unmanaged indicator of stock market performance of large North American gold and silver companies. The Amex Energy
Select Sector Index is an unmanaged indicator of stock market performance of large U.S. companies involved in the development or production of energy products. Dividends and interest income are considered reinvested. You cannot invest directly in an
index. |
|
|
(b) |
Total returns and average annual returns reflect changes in the NAV per share and reinvestment of distributions at NAV on the ex-dividend date and are net of
expenses. Since inception return is based on an initial NAV of $19.06. |
|
|
(c) |
Total returns and average annual returns reflect changes in closing market values on the NYSE MKT and reinvestment of distributions. Since inception return is
based on an initial offering price of $20.00. |
|
GAMCO Global Gold, Natural Resources & Income Trust
Schedule of Investments September 30, 2015 (Unaudited)
|
|
|
|
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|
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Shares |
|
|
|
|
Market
Value |
|
|
|
|
|
|
|
COMMON STOCKS 84.1% |
|
|
|
|
|
Energy and Energy Services 30.6% |
|
|
305,000 |
|
|
Anadarko Petroleum Corp.(a) |
|
$ |
18,418,950 |
|
|
150,000 |
|
|
Apache Corp.(a) |
|
|
5,874,000 |
|
|
21,275 |
|
|
Baker Hughes Inc. |
|
|
1,107,151 |
|
|
366,400 |
|
|
Cabot Oil & Gas Corp.(a) |
|
|
8,009,504 |
|
|
255,000 |
|
|
Cameron International Corp.(a) |
|
|
15,636,600 |
|
|
130,000 |
|
|
Carrizo Oil & Gas Inc. |
|
|
3,970,200 |
|
|
100,000 |
|
|
Cheniere Energy Inc. |
|
|
4,830,000 |
|
|
950,000 |
|
|
Cobalt International Energy Inc.(a) |
|
|
6,726,000 |
|
|
80,000 |
|
|
Concho Resources Inc. |
|
|
7,864,000 |
|
|
130,000 |
|
|
CONSOL Energy Inc.(a) |
|
|
1,274,000 |
|
|
80,000 |
|
|
Continental Resources Inc. |
|
|
2,317,600 |
|
|
336,000 |
|
|
CVR Refining LP |
|
|
6,424,320 |
|
|
250,000 |
|
|
Devon Energy Corp.(a) |
|
|
9,272,500 |
|
|
96,400 |
|
|
Diamondback Energy Inc. |
|
|
6,227,440 |
|
|
589,100 |
|
|
Encana Corp. |
|
|
3,793,804 |
|
|
30,000 |
|
|
EOG Resources Inc. |
|
|
2,184,000 |
|
|
16,800 |
|
|
FMC Technologies Inc. |
|
|
520,800 |
|
|
150,000 |
|
|
Halliburton Co. |
|
|
5,302,500 |
|
|
50,100 |
|
|
Laredo Petroleum Inc. |
|
|
472,443 |
|
|
290,000 |
|
|
Marathon Oil Corp.(a) |
|
|
4,466,000 |
|
|
350,000 |
|
|
Marathon Petroleum Corp.(a) |
|
|
16,215,500 |
|
|
645,000 |
|
|
Nabors Industries Ltd. |
|
|
6,095,250 |
|
|
15,000 |
|
|
Newfield Exploration Co. |
|
|
493,500 |
|
|
263,800 |
|
|
Noble Energy Inc. |
|
|
7,961,484 |
|
|
50,000 |
|
|
Occidental Petroleum Corp. |
|
|
3,307,500 |
|
|
430,000 |
|
|
Patterson-UTI Energy Inc. |
|
|
5,650,200 |
|
|
23,200 |
|
|
Pioneer Natural Resources Co. |
|
|
2,822,048 |
|
|
150,000 |
|
|
Plains GP Holdings LP, Cl. A |
|
|
2,625,000 |
|
|
85,000 |
|
|
QEP Resources Inc. |
|
|
1,065,050 |
|
|
142,500 |
|
|
Schlumberger Ltd. |
|
|
9,828,225 |
|
|
290,000 |
|
|
SM Energy Co.(a) |
|
|
9,291,600 |
|
|
70,000 |
|
|
Southwestern Energy Co. |
|
|
888,300 |
|
|
335,000 |
|
|
Suncor Energy Inc.(a) |
|
|
8,951,200 |
|
|
170,000 |
|
|
Superior Energy Services Inc. |
|
|
2,147,100 |
|
|
205,000 |
|
|
The Williams Companies Inc. |
|
|
7,554,250 |
|
|
80,000 |
|
|
Total SA, ADR |
|
|
3,576,800 |
|
|
300,000 |
|
|
Tullow Oil plc |
|
|
767,416 |
|
|
90,000 |
|
|
Valero Energy Corp. |
|
|
5,409,000 |
|
|
500,000 |
|
|
Weatherford International plc(a) |
|
|
4,240,000 |
|
|
272,650 |
|
|
Whiting Petroleum Corp. |
|
|
4,163,366 |
|
|
200,000 |
|
|
WPX Energy Inc. |
|
|
1,324,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
219,068,601 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals and Mining 53.5% |
|
|
|
|
|
1,226,000 |
|
|
Agnico Eagle Mines Ltd.(a) |
|
|
31,042,320 |
|
|
2,567,045 |
|
|
Alamos Gold Inc., Cl. A |
|
|
9,472,396 |
|
|
1,891,000 |
|
|
AngloGold Ashanti Ltd., ADR(a) |
|
|
15,487,290 |
|
|
879,180 |
|
|
Antofagasta plc |
|
|
6,645,885 |
|
|
1,086,656 |
|
|
AuRico Metals Inc. |
|
|
537,424 |
|
|
3,868,500 |
|
|
B2Gold Corp. |
|
|
4,061,925 |
|
|
2,564,000 |
|
|
Barrick Gold Corp.(a) |
|
|
16,307,040 |
|
|
|
|
|
|
|
|
|
|
Shares |
|
|
|
|
Market
Value |
|
|
|
|
|
155,000 |
|
|
BHP Billiton Ltd., ADR |
|
$ |
4,901,100 |
|
|
2,206,000 |
|
|
Centerra Gold Inc. |
|
|
12,464,024 |
|
|
859,105 |
|
|
Comstock Mining Inc. |
|
|
532,645 |
|
|
1,171,700 |
|
|
Detour Gold Corp. |
|
|
12,494,036 |
|
|
3,029,700 |
|
|
Eldorado Gold Corp.(a) |
|
|
9,755,634 |
|
|
761,700 |
|
|
Franco-Nevada Corp. |
|
|
33,530,034 |
|
|
300,000 |
|
|
Freeport-McMoRan Inc.(a) |
|
|
2,907,000 |
|
|
2,741,010 |
|
|
Fresnillo plc |
|
|
24,526,245 |
|
|
2,885,000 |
|
|
Goldcorp Inc.(a) |
|
|
36,120,200 |
|
|
333,566 |
|
|
Hochschild Mining plc |
|
|
353,220 |
|
|
40,000 |
|
|
Labrador Iron Ore Royalty Corp. |
|
|
428,625 |
|
|
472,000 |
|
|
MAG Silver Corp. |
|
|
3,360,060 |
|
|
182,225 |
|
|
Newcrest Mining Ltd. |
|
|
1,621,803 |
|
|
1,149,800 |
|
|
Newmont Mining Corp.(a) |
|
|
18,477,286 |
|
|
600,000 |
|
|
Osisko Gold Royalties Ltd. |
|
|
6,339,453 |
|
|
850,000 |
|
|
Perseus Mining Ltd. |
|
|
178,344 |
|
|
1,147,200 |
|
|
Primero Mining Corp. |
|
|
2,672,976 |
|
|
906,500 |
|
|
Randgold Resources Ltd., ADR(a) |
|
|
53,565,085 |
|
|
311,000 |
|
|
Rio Tinto plc, ADR(a) |
|
|
10,518,020 |
|
|
2,800,000 |
|
|
Romarco Minerals Inc. |
|
|
986,137 |
|
|
573,577 |
|
|
Royal Gold Inc.(a) |
|
|
26,946,648 |
|
|
5,909,090 |
|
|
Saracen Mineral Holdings Ltd. |
|
|
2,073,801 |
|
|
500,000 |
|
|
SEMAFO Inc. |
|
|
1,082,802 |
|
|
570,000 |
|
|
Sibanye Gold Ltd., ADR |
|
|
2,644,800 |
|
|
1,428,500 |
|
|
Silver Wheaton Corp. |
|
|
17,156,285 |
|
|
1,208,000 |
|
|
Tahoe Resources Inc. |
|
|
9,349,920 |
|
|
3,121,000 |
|
|
Torex Gold Resources Inc. |
|
|
2,923,380 |
|
|
80,000 |
|
|
US Silica Holdings Inc. |
|
|
1,127,200 |
|
|
108,475 |
|
|
Vale SA, Cl. P, ADR |
|
|
363,391 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
382,954,434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL COMMON STOCKS |
|
|
602,023,035 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal
Amount |
|
|
|
|
|
|
|
|
|
|
|
|
CONVERTIBLE CORPORATE BONDS 1.0% |
|
|
|
|
|
Metals and Mining 1.0% |
|
$ |
1,600,000 |
|
|
B2Gold Corp., 3.250%, 10/01/18 |
|
|
1,327,000 |
|
|
4,800,000 |
|
|
Detour Gold Corp., 5.500%, 11/30/17 |
|
|
4,656,000 |
|
|
1,500,000 |
(b) |
|
Wesdome Gold Inc., 7.000%, 05/24/17(c)(d) |
|
|
1,099,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,082,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CONVERTIBLE CORPORATE BONDS |
|
|
7,082,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CORPORATE BONDS 0.3% |
|
|
|
|
|
Metals and Mining 0.3% |
|
|
1,725,000 |
|
|
AuRico Gold Inc., Ser. 144A, 7.750%, 04/01/20(c) |
|
|
1,496,438 |
|
See accompanying notes to schedule
of investments.
2
GAMCO Global Gold, Natural Resources & Income Trust
Schedule of Investments (Continued) September 30, 2015 (Unaudited)
|
|
|
|
|
|
|
|
|
Principal Amount |
|
|
|
|
Market
Value |
|
|
|
|
|
|
|
CORPORATE BONDS (Continued) |
|
|
|
|
|
Metals and Mining (Continued) |
|
$ |
600,000 |
|
|
Kirkland Lake Gold Inc., 7.500%, 12/31/17 |
|
$ |
433,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,930,308 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CORPORATE BONDS |
|
|
1,930,308 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. GOVERNMENT OBLIGATIONS 14.6% |
|
|
104,950,000 |
|
|
U.S. Treasury Bills, 0.000% to 0.240%, 10/01/15 to 03/31/16(e) |
|
|
104,942,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS 100.0% (Cost $1,309,263,068) |
|
$ |
715,978,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate tax cost |
|
$ |
1,342,224,501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
1,532,961 |
|
|
|
|
|
Gross unrealized depreciation |
|
|
(627,778,879 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized appreciation/depreciation |
|
$ |
(626,245,918 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market
Value |
|
|
|
|
|
|
|
OPTIONS CONTRACTS WRITTEN (f) (2.6)% |
|
|
|
|
|
Call Options Written (2.0)% |
|
|
3,400 |
|
|
Agnico Eagle Mines Ltd. |
|
Oct. 15/37 |
|
$ |
13,600 |
|
|
1,650 |
|
|
Agnico Eagle Mines Ltd. |
|
Nov. 15/34 |
|
|
42,900 |
|
|
2,560 |
|
|
Agnico Eagle Mines Ltd. |
|
Dec. 15/31 |
|
|
191,539 |
|
|
650 |
|
|
Agnico Eagle Mines Ltd. |
|
Jan. 16/27.50 |
|
|
145,275 |
|
|
2,500 |
|
|
Agnico Eagle Mines Ltd. |
|
Jan. 16/34 |
|
|
182,500 |
|
|
1,500 |
|
|
Agnico Eagle Mines Ltd. |
|
Jan. 16/35 |
|
|
87,000 |
|
|
2,800 |
|
|
Alamos Gold Inc. |
|
Dec. 15/7.50 |
|
|
21,000 |
|
|
6,300 |
|
|
Alamos Gold Inc. |
|
Dec. 15/36 |
|
|
337,806 |
|
|
1,500 |
|
|
Alamos Gold Inc. |
|
Mar. 16/5 |
|
|
97,500 |
|
|
1,050 |
|
|
Anadarko Petroleum Corp. |
|
Oct. 15/80 |
|
|
3,150 |
|
|
1,000 |
|
|
Anadarko Petroleum Corp. |
|
Nov. 15/90 |
|
|
6,000 |
|
|
1,000 |
|
|
Anadarko Petroleum Corp. |
|
Dec. 15/77.50 |
|
|
43,190 |
|
|
2,459 |
|
|
AngloGold Ashanti Ltd., ADR |
|
Oct. 15/12 |
|
|
6,148 |
|
|
3,541 |
|
|
AngloGold Ashanti Ltd., ADR |
|
Oct. 15/13 |
|
|
8,852 |
|
|
3,184 |
|
|
AngloGold Ashanti Ltd., ADR |
|
Jan. 16/12 |
|
|
63,680 |
|
|
3,185 |
|
|
AngloGold Ashanti Ltd., ADR |
|
Jan. 16/13 |
|
|
31,850 |
|
|
6,541 |
|
|
AngloGold Ashanti Ltd., ADR |
|
Apr. 16/10 |
|
|
523,280 |
|
|
879 |
|
|
Antofagasta plc(g) |
|
Oct. 15/780 |
|
|
0 |
|
|
325 |
|
|
Apache Corp. |
|
Oct. 15/65 |
|
|
975 |
|
|
250 |
|
|
Apache Corp. |
|
Oct. 15/75 |
|
|
250 |
|
|
460 |
|
|
Apache Corp. |
|
Nov. 15/57.50 |
|
|
1,201 |
|
|
465 |
|
|
Apache Corp. |
|
Jan. 16/50 |
|
|
37,200 |
|
|
5,000 |
|
|
AuRico Gold Inc. |
|
Oct. 15/4.30 |
|
|
50 |
|
|
|
|
|
|
|
|
|
|
|
|
Number of Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market
Value |
|
|
|
|
|
|
19,340 |
|
|
B2Gold Corp. |
|
Nov. 15/1.75 |
|
$ |
8,123 |
|
|
19,345 |
|
|
B2Gold Corp. |
|
Jan. 16/1.50 |
|
|
49,717 |
|
|
4,058 |
|
|
Barrick Gold Corp. |
|
Oct. 15/14 |
|
|
2,029 |
|
|
4,080 |
|
|
Barrick Gold Corp. |
|
Oct. 15/15 |
|
|
4,080 |
|
|
5,000 |
|
|
Barrick Gold Corp. |
|
Nov. 15/8 |
|
|
70,000 |
|
|
3,500 |
|
|
Barrick Gold Corp. |
|
Nov. 15/10 |
|
|
12,250 |
|
|
5,440 |
|
|
Barrick Gold Corp. |
|
Dec. 15/8 |
|
|
127,840 |
|
|
3,562 |
|
|
Barrick Gold Corp. |
|
Dec. 15/9 |
|
|
42,744 |
|
|
275 |
|
|
BHP Billiton Ltd., ADR |
|
Nov. 15/52.50 |
|
|
12,237 |
|
|
500 |
|
|
BHP Billiton Ltd., ADR |
|
Nov. 15/55 |
|
|
22,250 |
|
|
775 |
|
|
BHP Billiton Ltd., ADR |
|
Dec. 15/36 |
|
|
52,311 |
|
|
325 |
|
|
Bill Barrett Corp. |
|
Dec. 15/8 |
|
|
1,625 |
|
|
1,221 |
|
|
Cabot Oil & Gas Corp. |
|
Oct. 15/30 |
|
|
3,052 |
|
|
1,543 |
|
|
Cabot Oil & Gas Corp. |
|
Nov. 15/30 |
|
|
15,430 |
|
|
900 |
|
|
Cabot Oil & Gas Corp. |
|
Jan. 16/27.50 |
|
|
36,000 |
|
|
1,275 |
|
|
Cameron International Corp. |
|
Nov. 15/55 |
|
|
1,007,250 |
|
|
640 |
|
|
Cameron International Corp. |
|
Jan. 16/50 |
|
|
761,600 |
|
|
500 |
|
|
Carrizo Oil & Gas Inc. |
|
Oct. 15/40 |
|
|
8,750 |
|
|
300 |
|
|
Carrizo Oil & Gas Inc. |
|
Oct. 15/47.50 |
|
|
4,500 |
|
|
500 |
|
|
Carrizo Oil & Gas Inc. |
|
Oct. 15/57.50 |
|
|
6,250 |
|
|
500 |
|
|
Carrizo Oil & Gas Inc. |
|
Nov. 15/45 |
|
|
8,750 |
|
|
7,500 |
|
|
Centerra Gold Inc.(h) |
|
Oct. 15/7 |
|
|
379,356 |
|
|
1,060 |
|
|
Centerra Gold Inc.(h) |
|
Oct. 15/8 |
|
|
15,886 |
|
|
2,500 |
|
|
Centerra Gold Inc.(h) |
|
Jan. 16/7 |
|
|
229,487 |
|
|
11,000 |
|
|
Centerra Gold Inc.(h) |
|
Jan. 16/8 |
|
|
638,816 |
|
|
3,500 |
|
|
Cobalt International Energy Inc. |
|
Oct. 15/12 |
|
|
8,750 |
|
|
2,500 |
|
|
Cobalt International Energy Inc. |
|
Nov. 15/9 |
|
|
31,250 |
|
|
400 |
|
|
Concho Resources Inc. |
|
Dec. 15/130 |
|
|
26,000 |
|
|
200 |
|
|
Concho Resources Inc. |
|
Jan. 16/115 |
|
|
70,000 |
|
|
200 |
|
|
Concho Resources Inc. |
|
Mar. 16/115 |
|
|
107,000 |
|
|
1,000 |
|
|
CONSOL Energy Inc. |
|
Oct. 15/20 |
|
|
5,500 |
|
|
300 |
|
|
CONSOL Energy Inc. |
|
Oct. 15/32 |
|
|
1,800 |
|
|
500 |
|
|
CONSOL Energy Inc. |
|
Dec. 15/20 |
|
|
1,220 |
|
|
300 |
|
|
CONSOL Energy Inc. |
|
Jan. 16/13 |
|
|
18,300 |
|
|
800 |
|
|
Continental Resources Inc. |
|
Jan. 16/35 |
|
|
126,000 |
|
|
587 |
|
|
Denbury Resources Inc. |
|
Dec. 15/8 |
|
|
1,468 |
|
|
1,000 |
|
|
Detour Gold Corp.(h) |
|
Oct. 15/13 |
|
|
115,774 |
|
|
6,717 |
|
|
Detour Gold Corp.(h) |
|
Oct. 15/14 |
|
|
437,901 |
|
|
4,000 |
|
|
Detour Gold Corp.(h) |
|
Dec. 15/15 |
|
|
406,145 |
|
|
700 |
|
|
Devon Energy Corp. |
|
Oct. 15/62.50 |
|
|
1,050 |
|
|
200 |
|
|
Devon Energy Corp. |
|
Oct. 15/65 |
|
|
300 |
|
|
700 |
|
|
Devon Energy Corp. |
|
Oct. 15/70 |
|
|
1,050 |
|
|
450 |
|
|
Devon Energy Corp. |
|
Nov. 15/55 |
|
|
1,125 |
|
|
450 |
|
|
Devon Energy Corp. |
|
Nov. 15/57.50 |
|
|
1,674 |
|
|
800 |
|
|
Diamondback Energy Inc. |
|
Dec. 15/80 |
|
|
64,000 |
|
|
164 |
|
|
Diamondback Energy Inc. |
|
Jan. 16/77.50 |
|
|
31,160 |
|
|
9,432 |
|
|
Eldorado Gold Corp. |
|
Oct. 15/6 |
|
|
23,580 |
|
|
8,432 |
|
|
Eldorado Gold Corp. |
|
Jan. 16/6 |
|
|
42,160 |
|
See accompanying notes to schedule
of investments.
3
GAMCO Global Gold, Natural Resources & Income Trust
Schedule of Investments (Continued) September 30, 2015 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Number of Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market Value |
|
|
|
|
|
|
|
OPTIONS CONTRACTS WRITTEN (f) (Continued) |
|
|
|
|
|
Call Options Written (Continued) |
|
|
3,098 |
|
|
Eldorado Gold Corp. |
|
Apr. 16/4.50 |
|
$ |
69,705 |
|
|
1,250 |
|
|
Encana Corp. |
|
Oct. 15/11 |
|
|
3,125 |
|
|
1,250 |
|
|
Encana Corp. |
|
Oct. 15/15 |
|
|
3,125 |
|
|
3,391 |
|
|
Encana Corp. |
|
Dec. 15/11.50 |
|
|
8,003 |
|
|
300 |
|
|
EOG Resources Inc. |
|
Oct. 15/100 |
|
|
900 |
|
|
161 |
|
|
FMC Technologies Inc. |
|
Oct. 15/40 |
|
|
1,208 |
|
|
237 |
|
|
FMC Technologies Inc. |
|
Oct. 15/42.50 |
|
|
1,778 |
|
|
168 |
|
|
FMC Technologies Inc. |
|
Nov. 15/39 |
|
|
2,940 |
|
|
1,000 |
|
|
Franco-Nevada Corp. |
|
Oct. 15/50 |
|
|
20,000 |
|
|
930 |
|
|
Franco-Nevada Corp. |
|
Oct. 15/52 |
|
|
1,795 |
|
|
1,000 |
|
|
Franco-Nevada Corp. |
|
Nov. 15/47.50 |
|
|
120,090 |
|
|
1,937 |
|
|
Franco-Nevada Corp. |
|
Dec. 15/45 |
|
|
487,562 |
|
|
1,000 |
|
|
Franco-Nevada Corp. |
|
Jan. 16/45 |
|
|
340,000 |
|
|
1,750 |
|
|
Franco-Nevada Corp. |
|
Feb. 16/50 |
|
|
366,275 |
|
|
400 |
|
|
Freeport-McMoRan Inc. |
|
Nov. 15/21 |
|
|
2,000 |
|
|
700 |
|
|
Freeport-McMoRan Inc. |
|
Nov. 15/22 |
|
|
2,100 |
|
|
400 |
|
|
Freeport-McMoRan Inc. |
|
Nov. 15/25 |
|
|
2,600 |
|
|
1,500 |
|
|
Freeport-McMoRan Inc. |
|
Jan. 16/10 |
|
|
208,500 |
|
|
400 |
|
|
Freeport-McMoRan Inc. |
|
Jan. 16/15 |
|
|
12,000 |
|
|
950 |
|
|
Fresnillo plc(g) |
|
Oct. 15/800 |
|
|
0 |
|
|
398 |
|
|
Fresnillo plc(g) |
|
Nov. 15/640 |
|
|
75,259 |
|
|
175 |
|
|
Fresnillo plc(g) |
|
Nov. 15/660 |
|
|
22,502 |
|
|
68 |
|
|
Fresnillo plc(g) |
|
Nov. 15/680 |
|
|
5,143 |
|
|
730 |
|
|
Fresnillo plc(g) |
|
Nov. 15/700 |
|
|
27,608 |
|
|
420 |
|
|
Fresnillo plc(g) |
|
Dec. 15/720 |
|
|
28,591 |
|
|
1,750 |
|
|
Goldcorp Inc. |
|
Oct. 15/20 |
|
|
5,250 |
|
|
5,000 |
|
|
Goldcorp Inc. |
|
Oct. 15/21 |
|
|
7,500 |
|
|
6,350 |
|
|
Goldcorp Inc. |
|
Oct. 15/22 |
|
|
9,525 |
|
|
5,000 |
|
|
Goldcorp Inc. |
|
Oct. 15/23 |
|
|
5,000 |
|
|
2,500 |
|
|
Goldcorp Inc. |
|
Dec. 15/17 |
|
|
36,575 |
|
|
8,250 |
|
|
Goldcorp Inc. |
|
Jan. 16/17 |
|
|
206,250 |
|
|
212 |
|
|
Halliburton Co. |
|
Oct. 15/45 |
|
|
636 |
|
|
500 |
|
|
Halliburton Co. |
|
Oct. 15/47 |
|
|
1,500 |
|
|
500 |
|
|
Halliburton Co. |
|
Nov. 15/43 |
|
|
11,000 |
|
|
200 |
|
|
Halliburton Co. |
|
Jan. 16/43 |
|
|
11,800 |
|
|
1,120 |
|
|
Icahn Enterprises LP |
|
Dec. 15/21 |
|
|
23,050 |
|
|
750 |
|
|
Icahn Enterprises LP |
|
Jan. 16/20 |
|
|
58,500 |
|
|
501 |
|
|
Laredo Petroleum Inc. |
|
Oct. 15/8 |
|
|
52,605 |
|
|
2,000 |
|
|
MAG Silver Corp.(h) |
|
Jan. 16/10 |
|
|
97,415 |
|
|
450 |
|
|
Marathon Oil Corp. |
|
Oct. 15/28 |
|
|
450 |
|
|
500 |
|
|
Marathon Oil Corp. |
|
Oct. 15/33 |
|
|
250 |
|
|
950 |
|
|
Marathon Oil Corp. |
|
Nov. 15/25 |
|
|
950 |
|
|
2,500 |
|
|
Marathon Oil Corp. |
|
Dec. 15/57.50 |
|
|
83,750 |
|
|
1,000 |
|
|
Marathon Petroleum Corp. |
|
Oct. 15/50 |
|
|
25,000 |
|
|
2,400 |
|
|
Nabors Industries Ltd. |
|
Oct. 15/16 |
|
|
1,200 |
|
|
800 |
|
|
Nabors Industries Ltd. |
|
Dec. 15/14 |
|
|
7,200 |
|
|
1,250 |
|
|
Nabors Industries Ltd. |
|
Dec. 15/17 |
|
|
1,250 |
|
|
2,000 |
|
|
Nabors Industries Ltd. |
|
Jan. 16/12 |
|
|
83,000 |
|
|
2,500 |
|
|
Newmont Mining Corp. |
|
Oct. 15/19 |
|
|
13,750 |
|
|
3,000 |
|
|
Newmont Mining Corp. |
|
Dec. 15/20 |
|
|
114,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Number of Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market Value |
|
|
|
|
|
|
2,000 |
|
|
Newmont Mining Corp. |
|
Dec. 15/25 |
|
$ |
13,000 |
|
|
1,000 |
|
|
Newmont Mining Corp. |
|
Jan. 16/19 |
|
|
63,000 |
|
|
3,000 |
|
|
Newmont Mining Corp. |
|
Jan. 16/20 |
|
|
153,000 |
|
|
500 |
|
|
Noble Corp. plc |
|
Oct. 15/15 |
|
|
1,000 |
|
|
425 |
|
|
Noble Energy Inc. |
|
Nov. 15/47.50 |
|
|
1,062 |
|
|
700 |
|
|
Noble Energy Inc. |
|
Nov. 15/50 |
|
|
1,750 |
|
|
500 |
|
|
Noble Energy Inc. |
|
Jan. 16/37.50 |
|
|
32,500 |
|
|
250 |
|
|
Occidental Petroleum Corp. |
|
Nov. 15/77.50 |
|
|
3,625 |
|
|
250 |
|
|
Occidental Petroleum Corp. |
|
Jan. 16/75 |
|
|
21,500 |
|
|
3,000 |
|
|
Osisko Gold Royalties Ltd.(h) |
|
Jan. 16/15 |
|
|
213,563 |
|
|
3,000 |
|
|
Osisko Gold Royalties Ltd.(h) |
|
Jan. 16/16 |
|
|
140,502 |
|
|
1,500 |
|
|
Patterson-UTI Energy Inc. |
|
Nov. 15/23 |
|
|
7,500 |
|
|
1,600 |
|
|
Patterson-UTI Energy Inc. |
|
Dec. 15/16 |
|
|
130,752 |
|
|
600 |
|
|
Patterson-UTI Energy Inc. |
|
Feb. 16/16 |
|
|
63,000 |
|
|
600 |
|
|
Patterson-UTI Energy Inc. |
|
Feb. 16/17 |
|
|
51,000 |
|
|
150 |
|
|
Pioneer Natural Resources Co. |
|
Dec. 15/155 |
|
|
16,350 |
|
|
1,500 |
|
|
Plains GP Holdings LP, Cl. A |
|
Nov. 15/25 |
|
|
18,750 |
|
|
3,704 |
|
|
Primero Mining Corp. |
|
Oct. 15/35 |
|
|
10,149 |
|
|
2,778 |
|
|
Primero Mining Corp. |
|
Dec. 15/5 |
|
|
13,696 |
|
|
5,000 |
|
|
Primero Mining Corp. |
|
Jan. 16/3 |
|
|
114,950 |
|
|
425 |
|
|
QEP Resources Inc. |
|
Dec. 15/16 |
|
|
14,875 |
|
|
425 |
|
|
QEP Resources Inc. |
|
Jan. 16/16 |
|
|
20,188 |
|
|
1,450 |
|
|
Randgold Resources Ltd., ADR |
|
Oct. 15/70 |
|
|
18,125 |
|
|
1,500 |
|
|
Randgold Resources Ltd., ADR |
|
Oct. 15/72.50 |
|
|
7,500 |
|
|
1,000 |
|
|
Randgold Resources Ltd., ADR |
|
Dec. 15/67.50 |
|
|
167,500 |
|
|
1,000 |
|
|
Randgold Resources Ltd., ADR |
|
Dec. 15/80 |
|
|
30,000 |
|
|
965 |
|
|
Randgold Resources Ltd., ADR |
|
Dec. 15/82.50 |
|
|
21,712 |
|
|
2,650 |
|
|
Randgold Resources Ltd., ADR |
|
Jan. 16/67.50 |
|
|
589,625 |
|
|
500 |
|
|
Randgold Resources Ltd., ADR |
|
Jan. 16/82.50 |
|
|
20,000 |
|
|
1,010 |
|
|
Rio Tinto plc, ADR |
|
Nov. 15/42.50 |
|
|
15,150 |
|
|
1,100 |
|
|
Rio Tinto plc, ADR |
|
Dec. 15/40 |
|
|
51,953 |
|
|
1,000 |
|
|
Rio Tinto plc, ADR |
|
Jan. 16/47.50 |
|
|
17,500 |
|
|
1,000 |
|
|
Rosetta Resources Inc. |
|
Oct. 15/20 |
|
|
15,000 |
|
|
1,000 |
|
|
Royal Gold Inc. |
|
Oct. 15/70 |
|
|
2,500 |
|
|
1,000 |
|
|
Royal Gold Inc. |
|
Oct. 15/72.50 |
|
|
2,500 |
|
|
1,000 |
|
|
Royal Gold Inc. |
|
Nov. 15/60 |
|
|
33,000 |
|
|
2,000 |
|
|
Royal Gold Inc. |
|
Dec. 15/57.50 |
|
|
167,220 |
|
|
736 |
|
|
Royal Gold Inc. |
|
Jan. 16/52.50 |
|
|
150,880 |
|
|
800 |
|
|
Schlumberger Ltd. |
|
Nov. 15/90 |
|
|
3,200 |
|
See accompanying notes to schedule
of investments.
4
GAMCO Global Gold, Natural Resources & Income Trust
Schedule of Investments (Continued) September 30, 2015 (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Number of Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market Value |
|
|
|
|
|
OPTIONS CONTRACTS WRITTEN (f) (Continued) |
|
|
|
|
|
Call Options Written (Continued) |
|
|
325 |
|
|
Schlumberger Ltd. |
|
Jan. 16/80 |
|
$ |
25,025 |
|
|
5,000 |
|
|
SEMAFO Inc.(h) |
|
Oct. 15/4.63 |
|
|
36 |
|
|
2,850 |
|
|
Sibanye Gold Ltd., ADR |
|
Oct. 15/7.50 |
|
|
14,250 |
|
|
2,850 |
|
|
Sibanye Gold Ltd., ADR |
|
Dec. 15/7.50 |
|
|
3,734 |
|
|
2,455 |
|
|
Silver Wheaton Corp. |
|
Dec. 15/18 |
|
|
19,640 |
|
|
5,000 |
|
|
Silver Wheaton Corp. |
|
Dec. 15/20 |
|
|
20,000 |
|
|
1,773 |
|
|
Silver Wheaton Corp. |
|
Jan. 16/15 |
|
|
78,898 |
|
|
2,989 |
|
|
Silver Wheaton Corp. |
|
Jan. 16/17 |
|
|
61,274 |
|
|
2,068 |
|
|
Silver Wheaton Corp. |
|
Feb. 16/15 |
|
|
113,244 |
|
|
869 |
|
|
SM Energy Co. |
|
Nov. 15/65 |
|
|
9,559 |
|
|
1,231 |
|
|
SM Energy Co. |
|
Jan. 16/55 |
|
|
40,008 |
|
|
800 |
|
|
SM Energy Co. |
|
Feb. 16/45 |
|
|
116,000 |
|
|
350 |
|
|
Southwestern Energy Co. |
|
Dec. 15/22 |
|
|
875 |
|
|
1,675 |
|
|
Suncor Energy Inc. |
|
Dec. 15/30 |
|
|
61,975 |
|
|
1,000 |
|
|
Suncor Energy Inc. |
|
Jan. 16/29 |
|
|
85,000 |
|
|
675 |
|
|
Suncor Energy Inc. |
|
Mar. 16/27 |
|
|
124,875 |
|
|
400 |
|
|
Superior Energy Services Inc. |
|
Nov. 15/15 |
|
|
18,000 |
|
|
850 |
|
|
Superior Energy Services Inc. |
|
Dec. 15/22.50 |
|
|
10,625 |
|
|
850 |
|
|
Superior Energy Services Inc. |
|
Mar. 16/17.50 |
|
|
46,750 |
|
|
4,000 |
|
|
Tahoe Resources Inc. |
|
Dec. 15/15 |
|
|
30,000 |
|
|
2,080 |
|
|
Tahoe Resources Inc. |
|
Jan. 16/11 |
|
|
54,642 |
|
|
6,000 |
|
|
Tahoe Resources Inc. |
|
Mar. 16/10 |
|
|
360,000 |
|
|
500 |
|
|
The Williams Companies Inc. |
|
Nov. 15/57.50 |
|
|
12,500 |
|
|
700 |
|
|
The Williams Companies Inc. |
|
Dec. 15/60 |
|
|
22,750 |
|
|
425 |
|
|
The Williams Companies Inc. |
|
Jan. 16/44 |
|
|
27,625 |
|
|
15,000 |
|
|
Torex Gold Resources Inc.(h) |
|
Jan. 16/1.50 |
|
|
131,847 |
|
|
400 |
|
|
Total SA, ADR |
|
Nov. 15/52.50 |
|
|
6,000 |
|
|
400 |
|
|
Total SA, ADR |
|
Jan. 16/50 |
|
|
30,400 |
|
|
150 |
|
|
Tullow Oil plc(g) |
|
Oct. 15/460 |
|
|
0 |
|
|
150 |
|
|
Tullow Oil plc(g) |
|
Nov. 15/460 |
|
|
0 |
|
|
200 |
|
|
US Silica Holdings Inc. |
|
Dec. 15/22 |
|
|
6,000 |
|
|
100 |
|
|
US Silica Holdings Inc. |
|
Dec. 15/34 |
|
|
1,250 |
|
|
100 |
|
|
US Silica Holdings Inc. |
|
Dec. 15/35 |
|
|
1,250 |
|
|
200 |
|
|
US Silica Holdings Inc. |
|
Jan. 16/25 |
|
|
5,500 |
|
|
500 |
|
|
Valero Energy Corp. |
|
Dec. 15/67.50 |
|
|
62,500 |
|
|
400 |
|
|
Valero Energy Corp. |
|
Jan. 16/65 |
|
|
96,000 |
|
|
2,500 |
|
|
Weatherford International plc |
|
Oct. 15/14 |
|
|
2,500 |
|
|
1,250 |
|
|
Weatherford International plc |
|
Nov. 15/10 |
|
|
42,500 |
|
|
1,250 |
|
|
Weatherford International plc |
|
Dec. 15/11 |
|
|
40,000 |
|
|
350 |
|
|
Whiting Petroleum Corp. |
|
Dec. 15/26 |
|
|
7,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Number of Contracts |
|
|
|
|
Expiration Date/ Exercise Price |
|
Market Value |
|
|
392 |
|
|
Whiting Petroleum Corp. |
|
Dec. 15/39 |
|
$ |
2,940 |
|
|
215 |
|
|
Whiting Petroleum Corp. |
|
Jan. 16/25 |
|
|
9,138 |
|
|
115 |
|
|
Whiting Petroleum Corp. |
|
Jan. 16/32.50 |
|
|
1,150 |
|
|
400 |
|
|
Whiting Petroleum Corp. |
|
Jan. 16/37.50 |
|
|
3,000 |
|
|
450 |
|
|
Whiting Petroleum Corp. |
|
Mar. 16/25 |
|
|
36,000 |
|
|
805 |
|
|
Whiting Petroleum Corp. |
|
Mar. 16/26 |
|
|
48,300 |
|
|
1,000 |
|
|
WPX Energy Inc. |
|
Nov. 15/15 |
|
|
2,500 |
|
|
1,000 |
|
|
WPX Energy Inc. |
|
Feb. 16/7.50 |
|
|
95,000 |
|
|
19,625 |
|
|
Yamana Gold Inc. |
|
Oct. 15/3.50 |
|
|
9,811 |
|
|
14,000 |
|
|
Yamana Gold Inc. |
|
Dec. 15/2.75 |
|
|
61,740 |
|
|
5,000 |
|
|
Yamana Gold Inc. |
|
Jan. 16/4 |
|
|
12,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL CALL OPTIONS WRITTEN (Premiums received $41,651,647) |
|
|
14,049,889 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Put Options Written (0.6)% |
|
|
500 |
|
|
Continental Resources Inc. |
|
Jan. 16/20 |
|
|
52,500 |
|
|
2,000 |
|
|
Detour Gold Corp.(h) |
|
Dec. 15/10 |
|
|
312,477 |
|
|
3,500 |
|
|
Eldorado Gold Corp. |
|
Jan. 16/5 |
|
|
673,750 |
|
|
1,000 |
|
|
Exxon Mobil Corp. |
|
Oct. 15/80 |
|
|
630,000 |
|
|
1,000 |
|
|
Franco-Nevada Corp. |
|
Oct. 15/45 |
|
|
235,000 |
|
|
800 |
|
|
Marathon Petroleum Corp. |
|
Oct. 15/48.75 |
|
|
257,600 |
|
|
1,500 |
|
|
Oasis Petroleum Inc. |
|
Nov. 15/13 |
|
|
690,000 |
|
|
2,000 |
|
|
Osisko Gold Royalties Ltd.(h) |
|
Jan. 16/13 |
|
|
134,882 |
|
|
4,000 |
|
|
Silver Wheaton Corp. |
|
Dec. 15/11 |
|
|
304,000 |
|
|
250 |
|
|
SM Energy Co. |
|
Nov. 15/55 |
|
|
597,500 |
|
|
250 |
|
|
SM Energy Co. |
|
Jan. 16/55 |
|
|
602,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL PUT OPTIONS WRITTEN (Premiums received $2,077,495) |
|
|
4,490,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL OPTIONS CONTRACTS WRITTEN (Premiums received $43,729,142) |
|
$ |
18,540,098 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aggregate premiums |
|
$ |
(43,729,142 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
30,105,309 |
|
|
|
|
|
Gross unrealized depreciation |
|
|
(4,916,265 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized appreciation/depreciation |
|
$ |
25,189,044 |
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Securities, or a portion thereof, with a value of $235,774,889 were deposited with the broker as collateral for options written. |
(b) |
Principal amount denoted in Canadian Dollars. |
(c) |
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, 2015, the market value of Rule 144A securities amounted to $2,595,973 or 0.36% of total investments.
|
See accompanying notes to schedule
of investments.
5
GAMCO Global Gold, Natural Resources & Income Trust
Schedule of Investments (Continued) September 30, 2015 (Unaudited)
(d) |
At September 30, 2015, the Fund held an investment in a restricted and illiquid security amounting to $1,099,535 or 0.15% of total investments, which was
valued under methods approved by the Board of Trustees as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition Principal Amount |
|
Issuer |
|
Acquisition
Date |
|
Acquisition
Cost |
|
|
09/30/15
Carrying Value
Per Bond |
|
$1,500,000(b) |
|
Wesdome Gold Inc. 7.000%, 05/24/17 |
|
05/18/12 |
|
$ |
1,473,695 |
|
|
$ |
73.3023 |
|
(e) |
At September 30, 2015, $85,087,000 of the principal amount was pledged as collateral for options written. |
(f) |
At September 30, 2015, the Fund had written over-the-counter Option Contracts with Pershing LLC and Morgan Stanley. |
(g) |
Exercise price denoted in British pence. |
(h) |
Exercise price denoted in Canadian dollars. |
|
Non-income producing security. |
|
Represents annualized yield at date of purchase. |
ADR |
American Depositary Receipt |
|
|
|
|
|
|
|
|
|
Geographic Diversification |
|
%of
Total Investments |
|
|
Market
Value |
|
|
|
|
Long Positions |
|
|
|
|
|
|
|
|
North America |
|
|
79.4 |
% |
|
$ |
568,591,908 |
|
Europe |
|
|
14.5 |
|
|
|
103,839,451 |
|
South Africa |
|
|
2.6 |
|
|
|
18,132,090 |
|
Latin America |
|
|
2.3 |
|
|
|
16,640,086 |
|
Asia/Pacific |
|
|
1.2 |
|
|
|
8,775,048 |
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
100.0 |
% |
|
$ |
715,978,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Positions |
|
|
|
|
|
|
|
|
North America |
|
|
(2.5 |
)% |
|
$ |
(17,967,350 |
) |
China |
|
|
(0.1 |
) |
|
|
(406,145 |
) |
Europe |
|
|
(0.0 |
) |
|
|
(166,603 |
) |
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
(2.6 |
)% |
|
$ |
(18,540,098 |
) |
|
|
|
|
|
|
|
|
|
See accompanying notes to schedule
of investments.
6
GAMCO Global Gold, Natural Resources & Income Trust
Notes to Schedule of Investments (Unaudited)
As an investment company, the Fund follows the investment company accounting and reporting guidance,
which is part of U.S. generally accepted accounting principles (GAAP) that may require the use of management estimates and assumptions in the preparation of its schedule of investments. Actual results could differ from those estimates.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its schedule of investments.
Security
Valuation. Portfolio securities listed or traded on a nationally recognized securities exchange or traded in the U.S. over-the-counter market for which market quotations are readily available are valued at the last quoted sale price or a
markets official closing price as of the close of business on the day the securities are being valued. If there were no sales that day, the security is valued at the average of the closing bid and asked prices or, if there were no asked prices
quoted on that day, then the security is valued at the closing bid price on that day. If no bid or asked prices are quoted on such day, the security is valued at the most recently available price or, if the Board of Trustees (the Board)
so determines, by such other method as the Board shall determine in good faith to reflect its fair market value. Portfolio securities traded on more than one national securities exchange or market are valued according to the broadest and most
representative market, as determined by Gabelli Funds, LLC (the Adviser).
Portfolio securities primarily traded on a foreign market are
generally valued at the preceding closing values of such securities on the relevant market, but may be fair valued pursuant to procedures established by the Board if market conditions change significantly after the close of the foreign market, but
prior to the close of business on the day the securities are being valued. Debt instruments with remaining maturities of sixty days or less that are not credit impaired are valued at amortized cost, unless the Board determines such amount does not
reflect the securities fair value, in which case these securities will be fair valued as determined by the Board. Debt instruments having a maturity greater than sixty days for which market quotations are readily available are valued at the
average of the latest bid and asked prices. If there were no asked prices quoted on such day, the security is valued using the closing bid price. U.S. government obligations with maturities greater than sixty days are normally valued using a model
that incorporates market observable data such as reported sales of similar securities, broker quotes, yields, bids, offers, and reference data. Certain securities are valued principally using dealer quotations.
Securities and assets for which market quotations are not readily available are fair valued as determined by the Board. Fair valuation methodologies and
procedures may include, but are not limited to: analysis and review of available financial and non-financial information about the company; comparisons with the valuation and changes in valuation of similar securities, including a comparison of
foreign securities with the equivalent U.S. dollar value American Depositary Receipt securities at the close of the U.S. exchange; and evaluation of any other information that could be indicative of the value of the security.
The inputs and valuation techniques used to measure fair value of the Funds investments are summarized into three levels as described in the
hierarchy below:
|
● |
|
Level 1 quoted prices in active markets for identical securities; |
|
● |
|
Level 2 other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit
risk, etc.); and |
|
● |
|
Level 3 significant unobservable inputs (including the Boards determinations as to the fair value of investments).
|
7
GAMCO Global Gold, Natural Resources & Income Trust
Notes to Schedule of Investments (Unaudited) (Continued)
A financial instruments level within the fair value hierarchy is based on the lowest level of any
input both individually and in the aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The
summary of the Funds investments in securities and other financial instruments by inputs used to value the Funds investments as of September 30, 2015 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
|
|
|
|
|
Level 1 Quoted Prices |
|
|
Level 2 Other Significant Observable Inputs |
|
|
Total Market Value at 9/30/15 |
|
INVESTMENTS IN SECURITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS (Market Value): |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks: |
|
|
|
|
|
|
|
|
|
|
|
|
Energy and Energy Services |
|
|
$219,068,601 |
|
|
|
|
|
|
|
$219,068,601 |
|
Metals and Mining |
|
|
381,332,631 |
|
|
|
$ 1,621,803 |
|
|
|
382,954,434 |
|
Total Common Stocks |
|
|
600,401,232 |
|
|
|
1,621,803 |
|
|
|
602,023,035 |
|
Convertible Corporate Bonds(a) |
|
|
|
|
|
|
7,082,535 |
|
|
|
7,082,535 |
|
Corporate Bonds(a) |
|
|
|
|
|
|
1,930,308 |
|
|
|
1,930,308 |
|
U.S. Government Obligations |
|
|
|
|
|
|
104,942,705 |
|
|
|
104,942,705 |
|
TOTAL INVESTMENTS IN SECURITIES ASSETS |
|
|
$600,401,232 |
|
|
|
$ 115,577,351 |
|
|
|
$715,978,583 |
|
INVESTMENTS IN SECURITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES (Market Value): |
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY CONTRACTS: |
|
|
|
|
|
|
|
|
|
|
|
|
Call Options Written |
|
|
$ (7,455,043) |
|
|
|
$ (6,594,846) |
|
|
|
$(14,049,889) |
|
Put Options Written |
|
|
(4,042,850) |
|
|
|
(447,359) |
|
|
|
(4,490,209) |
|
TOTAL INVESTMENTS IN SECURITIES LIABILITIES |
|
|
$(11,497,893) |
|
|
|
$ (7,042,205) |
|
|
|
$(18,540,098) |
|
(a) |
Please refer to the Schedule of Investments for the industry classifications of these portfolio holdings. |
The Fund did not have material transfers between Level 1 and Level 2 during the period ended September 30, 2015. The Funds policy is to
recognize transfers among Levels as of the beginning of the reporting period.
There were no Level 3 investments at September 30, 2015.
Additional Information to Evaluate Qualitative Information.
General. The Fund uses recognized industry pricing services approved by the Board and unaffiliated with the
Adviser to value most of its securities, and uses broker quotes provided by market makers of securities not valued by these and other recognized pricing sources. Several different pricing feeds are received to value domestic equity
securities, international equity securities, preferred equity securities, and fixed income securities. The data within these feeds is ultimately sourced from major stock exchanges and trading systems where these securities trade. The prices supplied
by external sources are checked by obtaining quotations or actual transaction prices from market participants. If a price obtained from the pricing source is deemed unreliable, prices will be sought from another pricing service or from a
broker/dealer that trades that security or similar securities.
Fair Valuation. Fair valued securities may be common
and preferred equities, warrants, options, rights, and fixed income obligations. Where appropriate, Level 3 securities are those for which market quotations are not available, such as securities not traded for several days, or for which current bids
are not available, or which are restricted as to transfer. Among the factors to be considered to fair value a security are recent prices of comparable securities that are publicly traded, reliable prices of securities not publicly traded, the use of
valuation models, current analyst reports, valuing the income or cash flow of the issuer, or cost if the preceding factors do not apply. A significant change in the unobservable inputs could result in a lower or higher value in
8
GAMCO Global Gold, Natural Resources & Income Trust
Notes to Schedule of Investments (Unaudited) (Continued)
Level 3 securities. The circumstances of Level 3 securities are frequently monitored to determine if fair valuation measures continue to apply.
The Adviser reports quarterly to the Board the results of the application of fair valuation policies and procedures. These include back testing the
prices realized in subsequent trades of these fair valued securities to fair values previously recognized.
Derivative Financial Instruments.
The Fund may engage in various portfolio investment strategies by investing in a number of derivative financial instruments for the purposes of increasing the income of the Fund. Investing in certain derivative financial instruments, including
participation in the options, futures, or swap markets, entails certain execution, liquidity, hedging, tax, and securities, interest, credit, or currency market risks. Losses may arise if the Advisers prediction of movements in the direction
of the securities, foreign currency, and interest rate markets is inaccurate. Losses may also arise if the counterparty does not perform its duties under a contract, or that, in the event of default, the Fund may be delayed in or prevented from
obtaining payments or other contractual remedies owed to it under derivative contracts. The creditworthiness of the counterparties is closely monitored in order to minimize these risks. Participation in derivative transactions involves investment
risks, transaction costs, and potential losses to which the Fund would not be subject absent the use of these strategies. The consequences of these risks, transaction costs, and losses may have a negative impact on the Funds ability to pay
distributions.
The Funds derivative contracts held at September 30, 2015, are not accounted for as hedging instruments under GAAP and are
disclosed in the Schedule of Investments together with the related counterparty.
Options. The Fund may purchase or
write call or put options on securities or indices for the purpose of increasing the income of the Fund. As a writer of put options, the Fund receives a premium at the outset and then bears the risk of unfavorable changes in the price of the
financial instrument underlying the option. The Fund would incur a loss if the price of the underlying financial instrument decreases between the date the option is written and the date on which the option is terminated. The Fund would realize a
gain, to the extent of the premium, if the price of the financial instrument increases between those dates.
As a purchaser of put options, the Fund
pays a premium for the right to sell to the seller of the put option the underlying security at a specified price. The seller of the put has the obligation to purchase the underlying security upon exercise at the exercise price. If the price of the
underlying security declines, the Fund would realize a gain upon sale or exercise. If the price of the underlying security increases or stays the same, the Fund would realize a loss upon sale or at the expiration date, but only to the extent of the
premium paid.
If a written call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining
whether there has been a realized gain or loss. If a written put option is exercised, the premium reduces the cost basis of the security. In the case of call options, these exercise prices are referred to as in-the-money,
at-the-money, and out-of-the-money, respectively. The Fund may write (a) in-the-money call options when the Adviser expects that the price of the underlying security will remain stable or decline during the option
period, (b) at-the-money call options when the Adviser expects that the price of the underlying security will remain stable, decline, or advance moderately during the option period, and (c) out-of-the-money call options when the Adviser
expects that the premiums received from writing the call option will be greater than the appreciation in the price of the underlying security above the exercise price. By writing a call option,
9
GAMCO Global Gold, Natural Resources & Income Trust
Notes to Schedule of Investments (Unaudited) (Continued)
the Fund limits its opportunity to profit from any increase in the market value of the underlying security above the exercise price of the option. Out-of-the-money, at-the-money, and in-the-money
put options (the reverse of call options as to the relation of exercise price to market price) may be utilized in the same market environments that such call options are used in equivalent transactions. Option positions at September 30, 2015
are reflected within the Schedule of Investments.
Limitations on the Purchase and Sale of Futures Contracts, Certain Options, and
Swaps. Subject to the guidelines of the Board, the Fund may engage in commodity interest transactions (generally, transactions in futures, certain options, certain currency transactions, and certain types of swaps) only for bona
fide hedging or other permissible transactions in accordance with the rules and regulations of the Commodity Futures Trading Commission (CFTC). Pursuant to amendments by the CFTC to Rule 4.5 under the Commodity Exchange Act
(CEA), the Adviser has filed a notice of exemption from registration as a commodity pool operator with respect to the Fund. The Fund and the Adviser are therefore not subject to registration or regulation as a commodity pool
operator under the CEA. In addition, certain trading restrictions are now applicable to the Fund as of January 1, 2013. These trading restrictions permit the Fund to engage in commodity interest transactions that include (i) bona
fide hedging transactions, as that term is defined and interpreted by the CFTC and its staff, without regard to the percentage of the Funds assets committed to margin and options premiums and (ii) non-bona fide hedging transactions,
provided that the Fund does not enter into such non-bona fide hedging transactions if, immediately thereafter, either (a) the sum of the amount of initial margin deposits on the Funds existing futures positions or swaps positions and
option or swaption premiums would exceed 5% of the market value of the Funds liquidating value, after taking into account unrealized profits and unrealized losses on any such transactions, or (b) the aggregate net notional value of the
Funds commodity interest transactions would not exceed 100% of the market value of the Funds liquidating value, after taking into account unrealized profits and unrealized losses on any such transactions. Therefore, in order to claim the
Rule 4.5 exemption, the Fund is limited in its ability to invest in commodity futures, options, and certain types of swaps (including securities futures, broad based stock index futures, and financial futures contracts). As a result, in the future,
the Fund will be more limited in its ability to use these instruments than in the past, and these limitations may have a negative impact on the ability of the Adviser to manage the Fund, and on the Funds performance.
Securities Sold Short. The Fund may enter into short sale transactions. Short selling involves selling securities that may or may not be owned
and, at times, borrowing the same securities for delivery to the purchaser, with an obligation to replace such borrowed securities at a later date. The proceeds received from short sales are recorded as liabilities and the Fund records an unrealized
gain or loss to the extent of the difference between the proceeds received and the value of an open short position on the day of determination. The Fund records a realized gain or loss when the short position is closed out. By entering into a short
sale, the Fund bears the market risk of an unfavorable change in the price of the security sold short. Dividends on short sales are recorded as an expense by the Fund on the ex-dividend date and interest expense is recorded on the accrual basis. The
broker retains collateral for the value of the open positions, which is adjusted periodically as the value of the position fluctuates. At September 30, 2015, there were no short sales outstanding.
Foreign Currency Translations. The books and records of the Fund are maintained in U.S. dollars. Foreign currencies, investments, and other assets
and liabilities are translated into U.S. dollars at current exchange
10
GAMCO Global Gold, Natural Resources & Income Trust
Notes to Schedule of Investments (Unaudited) (Continued)
rates. Purchases and sales of investment securities, income, and expenses are translated at the exchange rate prevailing on the respective dates of such transactions. Unrealized gains and losses
that result from changes in foreign exchange rates and/or changes in market prices of securities have been included in unrealized appreciation/depreciation on investments and foreign currency translations. Net realized foreign currency gains and
losses resulting from changes in exchange rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions, foreign currency transactions, and the difference between the amounts of interest
and dividends recorded on the books of the Fund and the amounts actually received. The portion of foreign currency gains and losses related to fluctuation in exchange rates between the initial purchase trade date and subsequent sale trade date is
included in realized gain/(loss) on investments.
Foreign Securities. The Fund may directly purchase securities of foreign issuers. Investing
in securities of foreign issuers involves special risks not typically associated with investing in securities of U.S. issuers. The risks include possible revaluation of currencies, the inability to repatriate funds, less complete financial
information about companies, and possible future adverse political and economic developments. Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than securities of comparable U.S.
issuers.
Foreign Taxes. The Fund may be subject to foreign taxes on income, gains on investments, or currency repatriation, a portion of
which may be recoverable. The Fund will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that exist in the markets in which it invests.
Restricted Securities. The Fund may invest up to 15% of its net assets in securities for which the markets are restricted. Restricted securities
include securities whose disposition is subject to substantial legal or contractual restrictions. The sale of restricted securities often requires more time and results in higher brokerage charges or dealer discounts and other selling expenses than
does the sale of securities eligible for trading on national securities exchanges or in the over-the-counter markets. Restricted securities may sell at a price lower than similar securities that are not subject to restrictions on resale. Securities
freely saleable among qualified institutional investors under special rules adopted by the SEC may be treated as liquid if they satisfy liquidity standards established by the Board. The continued liquidity of such securities is not as well assured
as that of publicly traded securities, and accordingly the Board will monitor their liquidity. For the restricted securities the Fund held as of September 30, 2015, refer to the Schedule of Investments.
Tax Information. The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of
1986, as amended.
11
GAMCO GLOBAL GOLD, NATURAL RESOURCES & INCOME TRUST
One Corporate Center
Rye, NY 10580-1422
Portfolio Management Team Biographies
Caesar M. P. Bryan joined GAMCO Asset Management in 1994. He is a member of the global investment team of Gabelli Funds, LLC and portfolio manager
of several funds within the Gabelli/GAMCO Fund Complex. Prior to joining Gabelli, Mr. Bryan was a portfolio manager at Lexington Management. He began his investment career at Samuel Montagu Company, the London based merchant bank.
Mr. Bryan graduated from the University of Southampton in England with a Bachelor of Law and is a member of the English Bar.
Barbara G.
Marcin, CFA, joined GAMCO Investors, Inc. in 1999 and currently serves as a portfolio manager of Gabelli Funds, LLC and manages several funds within the Gabelli/GAMCO Fund Complex. Prior to joining GAMCO, Ms. Marcin was head of value
investments at Citibank Global Asset Management. Ms. Marcin graduated with Distinction as an Echols Scholar from the University of Virginia and holds an MBA degree from Harvard Universitys Graduate School of Business.
Vincent Hugonnard-Roche joined GAMCO Investors, Inc. in 2000. He is Director of Quantitative Strategies, head of the Gabelli Risk Management
Group, serves as a portfolio manager of Gabelli Funds, LLC, and manages several funds within the Gabelli/GAMCO Fund Complex. He received a Masters degree in Mathematics of Decision Making from EISITI, France and an MS in Finance from ESSEC,
France.
We have separated the portfolio managers commentary from the financial statements and investment
portfolio due to corporate governance regulations stipulated by the Sarbanes-Oxley Act of 2002. We have done this to ensure that the content of the portfolio managers commentary is unrestricted. Both the commentary and the financial
statements, including the portfolio of investments, will be available on our website at www.gabelli.com.
The Net Asset Value per share appears
in the Publicly Traded Funds column, under the heading Specialized Equity Funds, in Mondays The Wall Street Journal. It is also listed in Barrons Mutual Funds/Closed End Funds section under the heading Specialized
Equity Funds.
The Net Asset Value per share may be obtained each day by calling (914) 921-5070 or visiting www.gabelli.com.
The NASDAQ symbol for the Net Asset Value is XGGNX.
Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as
amended, that the Fund may from time to time purchase its common shares in the open market when the Funds shares are trading at a discount of 7.5% or more from the net asset value of the shares. The Fund may also from time to time purchase its
preferred shares in the open market when the preferred shares are trading at a discount to the liquidation value.
GAMCO GLOBAL GOLD, NATURAL RESOURCES
& INCOME TRUST
One Corporate Center
Rye, NY 10580-1422
t 800-GABELLI (800-422-3554)
f 914-921-5118
e info@gabelli.com
GABELLI.COM
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TRUSTEES |
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OFFICERS |
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Anthony J. Colavita President,
Anthony J. Colavita, P.C.
James P. Conn Former Managing Director &
Chief Investment Officer, Financial Security Assurance
Holdings Ltd.
Vincent D. Enright Former Senior Vice President &
Chief Financial Officer, KeySpan Corp.
Frank J. Fahrenkopf, Jr.
Former President & Chief Executive Officer,
American Gaming Association
Michael J. Melarkey Of Counsel,
McDonald Carano Wilson LLP
Salvatore M. Salibello, CPA Partner,
Salibello & Company
Anthonie C. van Ekris Chairman,
BALMAC International, Inc.
Salvatore J. Zizza Chairman,
Zizza & Associates Corp. |
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Bruce N. Alpert President
Andrea R. Mango
Secretary & Vice President
Agnes Mullady Treasurer
Richard J. Walz
Chief Compliance Officer
Carter W. Austin Vice President
Molly A.F. Marion
Vice President & Ombudsman
Laurissa M. Martire Vice President & Ombudsman
David I. Schachter
Vice President
INVESTMENT ADVISER
Gabelli Funds, LLC One Corporate Center
Rye, New York 10580-1422
CUSTODIAN
The Bank of New York Mellon
COUNSEL
Skadden, Arps, Slate, Meagher & Flom LLP
TRANSFER AGENT AND
REGISTRAR
American Stock Transfer and Trust Company |
GGN Q3/2015
Item 2. Controls and Procedures.
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(a) |
The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the
registrants 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)). |
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(b) |
There were no changes in the registrants 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 registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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.
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(Registrant) |
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GAMCO Global Gold, Natural Resources & Income
Trust |
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By (Signature and Title)* |
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/s/ Bruce N. Alpert |
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Bruce N. Alpert, Principal Executive Officer |
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.
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By (Signature and Title)* |
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/s/ Bruce N. Alpert |
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Bruce N. Alpert, Principal Executive Officer |
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By (Signature and Title)* |
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/s/ Agnes Mullady |
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Agnes Mullady, Principal Financial Officer and
Treasurer |
* |
Print the name and title of each signing officer under his or her signature. |
Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the
Sarbanes-Oxley Act
I,
Bruce N. Alpert, certify that:
1. |
I have reviewed this report on Form N-Q of the GAMCO Global Gold, Natural Resources & Income Trust; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the
registrant as of the end of the fiscal quarter for which the report is filed; |
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
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(c) |
Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
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(d) |
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the
registrants board of directors (or persons performing the equivalent functions): |
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(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
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(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal
control over financial reporting. |
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Date: 11/25/2015 |
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/s/ Bruce N.
Alpert
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Bruce N. Alpert, Principal Executive Officer |
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Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the
Sarbanes-Oxley Act
I,
Agnes Mullady, certify that:
1. |
I have reviewed this report on Form N-Q of the GAMCO Global Gold, Natural Resources & Income Trust; |
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. |
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the
registrant as of the end of the fiscal quarter for which the report is filed; |
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
|
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure
that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our
supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
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(c) |
Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and |
|
(d) |
Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the registrants
most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the
registrants board of directors (or persons performing the equivalent functions): |
|
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably
likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and |
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(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal
control over financial reporting. |
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Date: 11/25/2015 |
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/s/ Agnes Mullady |
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Agnes Mullady, Principal Financial Officer and Treasurer |