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, 2006
------------------
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, 100 F Street, NE, Washington, DC
20549. 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, 2006 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS -- 91.0%
COPYRIGHT/CREATIVITY COMPANIES -- 40.0%
BUSINESS SERVICES: ADVERTISING -- 0.6%
20,000 Clear Channel Outdoor
Holdings Inc., Cl. A+ ...... $ 408,000
20,000 Harte-Hanks Inc. ............. 527,000
4,200 Havas SA ..................... 19,546
7,000 JC Decaux SA ................. 189,333
2,000 Publicis Groupe .............. 78,771
4,000 R. H. Donnelley Corp. ........ 211,600
-----------
1,434,250
-----------
COMPUTER HARDWARE -- 0.1%
4,000 Apple Computer Inc.+ ......... 308,120
------------
COMPUTER SOFTWARE AND SERVICES -- 2.9%
53,333 Activision Inc.+ ............. 805,328
5,000 America Online Latin America
Inc., Cl. A+ ............... 10
3,000 Atlus Co. Ltd.+ .............. 12,826
9,473 CNET Networks Inc.+ .......... 90,751
3,230 EarthLink Inc.+ .............. 23,482
5,000 eBay Inc.+ ................... 141,800
21,000 Electronic Arts Inc.+ ........ 1,169,280
1,000 EMC Corp.+ ................... 11,980
600 Google Inc., Cl. A+ .......... 241,140
10,000 Jupitermedia Corp.+ .......... 86,600
13,800 Mobius Management Systems
Inc.+ ...................... 93,012
5,000 NAVTEQ Corp.+ ................ 130,550
150,000 Yahoo! Inc.+ ................. 3,792,000
------------
6,598,759
------------
CONSUMER PRODUCTS -- 0.3%
4,000 Lenox Group Inc.+ ............ 24,200
32,000 Mattel Inc. .................. 630,400
------------
654,600
------------
ELECTRONICS -- 2.0%
5,000 Freescale Semiconductor Inc.,
Cl. B+ 190,050
4,000 IMAX Corp.+ .................. 19,560
12,000 Intel Corp. .................. 246,840
3,570 Royal Philips Electronics NV,
ADR ........................ 124,986
10,000 Samsung Electronics Co. Ltd.,
GDR (b) ................... 3,507,660
6,000 Sony Corp., ADR .............. 242,160
4,000 Zoran Corp.+ ................. 64,320
------------
4,395,576
------------
MARKET
SHARES VALUE*
-------- --------
ENTERTAINMENT -- 10.7%
8,000 Aruze Corp. .................. $ 148,995
1,161 Corporacion Interamericana de
Entretenimiento SA de CV,
Cl.B+ ...................... 2,081
22,000 Crown Media Holdings Inc.,
Cl. A+ ..................... 98,780
31,622 EMI Group plc ................ 157,491
30,000 EMI Group plc, ADR ........... 298,122
225,000 Gemstar-TV Guide International
Inc.+ ...................... 747,000
70,000 GMM Grammy Public Co. Ltd. ... 13,883
481 Henley LP+ (a) ............... 1,443
77,843 Liberty Global Inc., Cl. A+ .. 2,003,679
75,000 Liberty Global Inc., Cl. C+ .. 1,879,500
35,500 Liberty Media Holding Corp.
- Capital, Cl. A+ .......... 2,966,735
625 Live Nation Inc.+ ............ 12,763
100,000 Shaw Brothers (Hong Kong) Ltd. 184,837
38,000 Six Flags Inc.+ .............. 198,740
70,000 SMG plc ...................... 89,451
95,000 The Walt Disney Co. .......... 2,936,450
200,000 Time Warner Inc. ............. 3,646,000
70,000 Viacom Inc., Cl. A+ .......... 2,611,000
157,000 Vivendi ...................... 5,659,971
6,000 Warner Music Group Corp. ..... 155,700
4,000 World Wrestling Entertainment
Inc. ....................... 65,720
------------
23,878,341
------------
HOTELS AND GAMING -- 11.4%
5,000 Aztar Corp.+ ................. 265,050
65,000 Boyd Gaming Corp. ............ 2,498,600
13,000 Churchill Downs Inc. ......... 546,780
150,000 Gaylord Entertainment Co.+ ... 6,577,500
4,500 Greek Organization of Football
Prognostics SA ............. 151,216
5,000 Harrah's Entertainment Inc. .. 332,150
3,000 Host Hotels & Resorts Inc. ... 68,790
118,000 International Game Technology 4,897,000
482,352 Ladbrokes plc ................ 3,513,171
27,000 Las Vegas Sands Corp.+ ....... 1,845,450
55,000 Magna Entertainment Corp.,
Cl. A+ ..................... 257,950
75,000 MGM Mirage+ .................. 2,961,750
36,900 Pinnacle Entertainment Inc.+ 1,037,628
6,000 Starwood Hotels & Resorts
Worldwide Inc. ............. 343,140
1,600 Wyndham Worldwide Corp.+ ..... 44,752
2,000 Wynn Resorts Ltd.+ ........... 136,020
------------
25,476,947
------------
PUBLISHING -- 12.0%
20,000 Arnoldo Mondadori Editore SpA 185,263
95,000 Belo Corp., Cl. A ............ 1,501,950
20,000 Dow Jones & Co. Inc. ......... 670,800
16,667 EMAP plc ..................... 234,667
2
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2006 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
COPYRIGHT/CREATIVITY COMPANIES (CONTINUED)
PUBLISHING (CONTINUED)
20,000 EMAP plc, Cl. B .............. $ 41,192
8,000 Gannett Co. Inc. ............. 454,640
2,833 Golden Books Family
Entertainment Inc.+ ........ 0
144,400 Independent News & Media plc 435,795
800 John Wiley & Sons Inc., Cl. B 28,744
12,000 Journal Register Co. ......... 68,040
46,000 Lee Enterprises Inc. ......... 1,161,040
25,653 McClatchy Co., Cl. A ......... 1,082,300
28,000 Media General Inc., Cl. A .... 1,056,160
25,000 Meredith Corp. ............... 1,233,250
100,000 Nation Multimedia Group
Public Co. Ltd.+ (a) ....... 21,296
130,000 New Straits Times Press Berhad 63,449
326,414 News Corp., Cl. A ............ 6,414,035
40,000 News Corp., Cl. B ............ 825,600
150,000 Oriental Press Group Ltd. .... 26,955
100,000 Penton Media Inc.+ ........... 56,000
10,000 Playboy Enterprises Inc.,
Cl. A+ ..................... 95,000
974,000 Post Publishing Public Co.
Ltd. (a) ................... 193,815
145,000 PRIMEDIA Inc.+ ............... 220,400
2,360 SanomaWSOY Oyj ............... 60,540
1,000 Scholastic Corp.+ ............ 31,150
251,520 SCMP Group Ltd. .............. 89,106
252,671 Singapore Press Holdings Ltd. 652,259
300 Spir Communication ........... 44,471
2,000 Sun-Times Media Group Inc.,
Cl. A ...................... 13,160
15,000 Telegraaf Media Groep NV ..... 356,640
64,000 The E.W. Scripps Co., Cl. A .. 3,067,520
40,000 The McGraw-Hill Companies Inc. 2,321,200
88,000 The Reader's Digest
Association Inc. ........... 1,140,480
84,000 Tribune Co. .................. 2,748,480
12,352 United Business Media plc. ... 153,218
4,000 Wolters Kluwer NV - CVA ...... 104,336
------------
26,852,951
------------
TOTAL COPYRIGHT/
CREATIVITY COMPANIES ....... 89,599,544
------------
DISTRIBUTION COMPANIES -- 51.0%
BROADCASTING -- 7.3%
1,560 Asahi Broadcasting Corp. ..... 211,830
18,000 CanWest Global Communications
Corp.+ ..................... 134,100
18,000 CanWest Global Communications
Corp., Sub-Voting+ ......... 133,661
70,000 CBS Corp., Cl. A ............. 1,975,400
6,400 Chubu-Nippon Broadcasting
Co. Ltd. ................... 67,725
5,000 Clear Channel Communications
Inc. ....................... 144,250
MARKET
SHARES VALUE*
-------- --------
20,000 Cogeco Inc. .................. $ 420,487
8,333 Corus Entertainment Inc.,
Cl. B ...................... 317,739
9,000 Cox Radio Inc., Cl. A+........ 138,150
72,271 Discovery Holding Co., Cl. A+ 1,045,039
166 Emmis Communications Corp.,
Cl. A+ ..................... 2,033
29,420 Fisher Communications Inc.+ .. 1,222,401
228 Fuji Television Network Inc. . 515,352
20,000 Granite Broadcasting Corp.+ .. 2,600
90,000 Gray Television Inc. ......... 576,900
10,000 Gray Television Inc., Cl. A .. 69,100
10,000 Grupo Radio Centro SA de CV,
ADR ........................ 64,000
30,000 Hearst-Argyle Television Inc. 688,500
65,000 ION Media Networks Inc.+ ..... 52,650
4,550 Lagardere SCA ................ 328,293
40,000 Lin TV Corp., Cl. A+ ......... 311,200
5,140 Media Prima Berhad ........... 2,662
4,000 Metropole Television SA ...... 122,747
7,000 Nippon Television Network
Corp. ...................... 956,444
4,650 NRJ Group .................... 86,973
1,000 NTN Buzztime Inc.+ ........... 1,300
500 Radio One Inc., Cl. A+ ....... 3,120
1,000 Radio One Inc., Cl. D+ ....... 6,250
1,500 RTL Group (Brussels) ......... 155,971
3,500 RTL Group (New York) ......... 368,370
1,906 SAGA Communications Inc.,
Cl. A+ ..................... 14,752
79,000 Salem Communications Corp.,
Cl. A ...................... 893,490
80,000 Sinclair Broadcast Group Inc.,
Cl. A ...................... 628,000
25,000 Societe Television Francaise 1 798,557
5,000 Spanish Broadcasting System
Inc., Cl. A+ ............... 21,850
50,000 Television Broadcasts Ltd. ... 269,554
110,000 Tokyo Broadcasting System Inc. 2,565,503
258 TV Asahi Corp. ............... 548,216
240,000 TV Azteca SA de CV, CPO ...... 155,867
26,000 UTV plc ...................... 170,870
36,000 Young Broadcasting Inc., Cl. A+ 82,800
------------
16,274,706
------------
BUSINESS SERVICES -- 0.2%
800 Avis Budget Group Inc. ....... 14,632
15,000 BB Holdings Ltd.+ ............ 49,500
6,000 Carlisle Group Ltd.+ ......... 10,560
500 CheckFree Corp.+ ............. 20,660
1,000 Convergys Corp.+ ............. 20,650
8,000 Interactive Data Corp.+ ...... 159,600
3,000 Moody's Corp. ................ 196,140
937 OneSource Services Inc.+. .... 11,798
500 The Dun & Bradstreet Corp.+ .. 37,495
2,500 Traffix Inc. ................. 13,100
------------
534,135
------------
3
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2006 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
DISTRIBUTION COMPANIES (CONTINUED)
CABLE -- 7.8%
16,578 Austar United Communications
Ltd.+ ...................... $ 14,456
200,000 Cablevision Systems Corp.,
Cl. A+ ..................... 4,542,000
30,000 Charter Communications Inc.,
Cl. A+ ..................... 45,600
40,400 Cogeco Cable Inc. ............ 935,408
35,000 Comcast Corp., Cl. A+ ........ 1,289,750
7,000 Comcast Corp., Cl. A, Special+ 257,670
15,000 Mediacom Communications Corp.,
Cl. A+ ..................... 106,800
150,945 Rogers Communications Inc.,
Cl. B, New York ............ 8,282,352
9,655 Rogers Communications Inc.,
Cl. B, Toronto ............. 528,639
11,000 Shaw Communications Inc.,
Cl. B, New York ............ 330,220
39,000 Shaw Communications Inc.,
Cl. B, Toronto ............. 1,167,819
------------
17,500,714
------------
CONSUMER SERVICES -- 3.1%
3,000 Best Buy Co. Inc. ............ 160,680
4,000 Bowlin Travel Centers Inc.+ .. 6,800
20,000 H&R Block Inc. ............... 434,800
93,000 IAC/InterActiveCorp+. ........ 2,674,680
177,500 Liberty Media Holding Corp.
- Interactive, Cl. A+ ...... 3,617,450
2,000 Martha Stewart Living
Omnimedia Inc., Cl. A ...... 35,520
4,000 TiVo Inc.+ ................... 30,360
------------
6,960,290
------------
DIVERSIFIED INDUSTRIAL -- 1.4%
36,000 Bouygues SA .................. 1,925,515
18,432 Contax Participacoes SA, ADR.. 15,877
30,000 General Electric Co. ......... 1,059,000
7,700 Hutchison Whampoa Ltd. ....... 67,999
7,908 Malaysian Resources Corp.
Berhad+ .................... 1,673
------------
3,070,064
------------
ENERGY AND UTILITIES -- 0.2%
20,000 El Paso Electric Co.+ ........ 446,800
------------
ENTERTAINMENT -- 7.4%
1,000 Blockbuster Inc., Cl. A+ ..... 3,840
3,150 British Sky Broadcasting
Group plc, ADR ............. 129,370
12,000 Canal+ Groupe ................ 121,429
4,005 Chestnut Hill Ventures+ (a) .. 86,003
30,000 DreamWorks Animation SKG Inc.,
Cl. A+ ..................... 747,300
510,000 Grupo Televisa SA, ADR ....... 10,842,600
MARKET
SHARES VALUE*
-------- --------
200,000 Rank Group plc ............... $ 879,065
13,000 Regal Entertainment Group,
Cl. A ...................... 257,660
13,000 Triple Crown Media Inc.+ ..... 94,640
100,000 Univision Communications
Inc., Cl. A+ ............... 3,434,000
------------
16,595,907
------------
EQUIPMENT -- 3.1%
6,000 Agere Systems Inc.+ .......... 89,580
11,000 American Tower Corp., Cl. A+.. 401,500
1,000 Amphenol Corp., Cl. A ........ 61,930
6,000 Andrew Corp.+ ................ 55,380
416 Avaya Inc.+ .................. 4,759
2,000 CommScope Inc.+ .............. 65,720
86,000 Corning Inc.+ ................ 2,099,260
1,500 L-3 Communications Holdings
Inc. ....................... 117,495
70,000 Lucent Technologies Inc.+ .... 163,800
55,000 Motorola Inc. ................ 1,375,000
40,000 Nortel Networks Corp.+ ....... 92,000
12,000 QUALCOMM Inc. ................ 436,200
40,000 Sycamore Networks Inc.+ ...... 151,200
115,000 Symbol Technologies Inc. ..... 1,708,900
3,000 The Furukawa Electric Co. Ltd. 19,810
200 Trestle Holdings Inc.+ ....... 24
------------
6,842,558
------------
FOOD AND BEVERAGE -- 0.1%
5,282 Compass Group plc ............ 26,529
1,041 Pernod-Ricard SA ............. 216,619
------------
243,148
------------
UNITS
-------
CLOSED-END FUNDS -- 0.1%
6,804 Bell Aliant Regional
Communications Income Fund . 212,733
------------
SHARES
--------
REAL ESTATE -- 0.0%
2,000 Realogy Corp.+ ............... 45,360
------------
SATELLITE -- 1.0%
300 Asia Satellite Telecommunications
Holdings Ltd., ADR ......... 4,856
40,000 EchoStar Communications Corp.,
Cl. A+ ..................... 1,309,600
1,000 Lockheed Martin Corp. ........ 86,060
25,000 Pegasus Communications Corp.,
Cl. A+ ..................... 49,750
6,000 PT Indosat Tbk, ADR .......... 163,560
30 SKY Perfect Communications Inc. 16,787
30,000 The DIRECTV Group Inc.+ ...... 590,400
------------
2,221,013
------------
4
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2006 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
COMMON STOCKS (CONTINUED)
DISTRIBUTION COMPANIES (CONTINUED)
TELECOMMUNICATIONS: LONG DISTANCE -- 2.4%
18,000 AT&T Inc. .................... $ 586,080
3,500 Embarq Corp. ................. 169,295
1,000 Embratel Participacoes SA, ADR 15,840
35,000 Philippine Long Distance
TelephoneCo., ADR .......... 1,524,600
70,000 Sprint Nextel Corp. .......... 1,200,500
1,000 Startec Global Communications
Corp.+ (a) ................. 2
1,666 Talk America Holdings Inc.+ .. 15,827
600,000 Telecom Italia SpA ........... 1,704,264
15,534 Windstream Corp. ............. 204,894
------------
5,421,302
------------
TELECOMMUNICATIONS: NATIONAL -- 4.8%
9,000 BT Group plc, ADR ............ 455,130
5,000 China Telecom Corp. Ltd., ADR 180,750
5,000 China Unicom Ltd., ADR ....... 48,900
39,000 Compania de Telecomunicaciones
de Chile SA, ADR ........... 275,730
158,000 Deutsche Telekom AG, ADR ..... 2,507,460
50,000 Elisa Oyj .................... 1,103,207
3,000 France Telecom SA, ADR ....... 69,930
3,305 Hellenic Telecommunications
Organization SA+ ........... 81,052
500 Magyar Telekom
Telecommunications plc, ADR+ 10,000
20 Nippon Telegraph & Telephone
Corp. ...................... 98,201
4,320 PT Telekomunikasi Indonesia,
ADR ........................ 156,211
6,000 Rostelecom, ADR .............. 180,600
45,000 Swisscom AG, ADR ............. 1,502,550
2,000 Telecom Corp. of New Zealand
Ltd., ADR .................. 44,860
55,000 Telefonica SA, ADR ........... 2,849,550
38,000 Telefonos de Mexico SA de CV,
Cl. L, ADR ................. 972,040
18,172 TeliaSonera AB ............... 116,549
2,400 Telstra Corp. Ltd., ADR ...... 33,024
------------
10,685,744
------------
TELECOMMUNICATIONS: REGIONAL -- 7.9%
15,025 ALLTEL Corp. ................. 833,888
32,025 BCE Inc. ..................... 867,557
4,000 Brasil Telecom Participacoes
SA, ADR .................... 120,240
18,000 CenturyTel Inc. .............. 714,060
90,000 Cincinnati Bell Inc.+ ........ 433,800
60,000 Citizens Communications Co. .. 842,400
50,000 Commonwealth Telephone
Enterprises Inc. ........... 2,061,500
3,000 Metromedia International
Group Inc.+ ................ 5,310
8 NTL Inc ...................... 203
MARKET
SHARES VALUE*
-------- --------
230,000 Qwest Communications
International Inc.+ ........ $ 2,005,600
18,432 Tele Norte Leste Participacoes
SA, ADR .................... 252,703
10,000 Telecom Argentina SA, Cl. B,
ADR+ ....................... 137,500
68,000 Telephone & Data Systems Inc. 2,862,800
50,000 Telephone & Data Systems Inc.,
Special .................... 2,042,500
40,000 TELUS Corp. .................. 2,250,951
4,000 Time Warner Telecom Inc.,
Cl. A+ ..................... 76,040
58,000 Verizon Communications Inc. .. 2,153,540
------------
17,660,592
------------
WIRELESS COMMUNICATIONS -- 4.2%
96,000 America Movil SA de CV,
Cl. L, ADR ................. 3,779,520
102 Hutchison Telecommunications
International Ltd.+ ........ 180
240,000 Jasmine International Public
Co. Ltd.+ (a) .............. 3,131
500 NTT DoCoMo Inc. .............. 770,370
30,000 Price Communications Corp.+ .. 579,000
10,800 Rural Cellular Corp., Cl. A+.. 104,004
37,000 SK Telecom Co. Ltd., ADR ..... 874,310
330 Tele Norte Celular
Participacoes SA, ADR ...... 2,904
825 Telemig Celular Participacoes
SA, ADR .................... 30,443
3,178 Tim Participacoes SA, ADR .... 88,507
30,000 United States Cellular Corp.+ 1,791,000
18,000 Vimpel-Communications, ADR+ .. 1,090,620
15,999 Vivo Participacoes SA, ADR ... 49,917
8,750 Vodafone Group plc, ADR ...... 200,025
------------
9,363,931
------------
TOTAL DISTRIBUTION COMPANIES.. 114,078,997
------------
TOTAL COMMON STOCKS .......... 203,678,541
------------
PREFERRED STOCKS -- 0.7%
BROADCASTING -- 0.5%
800 Granite Broadcasting Corp.,
12.750% Pfd.+ .............. 124,000
100 Gray Television Inc.,
8.000% Cv. Pfd.,
Ser. C (a)(b)(c) ........... 1,000,000
------------
1,124,000
------------
BUSINESS SERVICES -- 0.2%
11,691 Interep National Radio Sales Inc.,
4.000% Cv. Pfd.,
Ser. A+ (a)(b)(c) .......... 409,188
------------
TOTAL PREFERRED STOCKS ....... 1,533,188
------------
5
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
SCHEDULE OF INVESTMENTS (CONTINUED)
SEPTEMBER 30, 2006 (UNAUDITED)
MARKET
SHARES VALUE*
-------- --------
RIGHTS -- 0.0%
BROADCASTING -- 0.0%
5,140 Media Prima Berhad,
expire 07/18/08+ ........... $ 1,714
------------
WARRANTS -- 0.0%
BROADCASTING -- 0.0%
5,140 Media Prima Berhad,
expire 07/31/08+ ........... 1,045
------------
BUSINESS SERVICES -- 0.0%
62,500 Interep National Radio Sales Inc.,
expire 05/06/07+ (a)(b)(c).. 0
------------
COMMUNICATIONS EQUIPMENT -- 0.0%
541 Lucent Technologies Inc.,
expire 12/10/07+ ........... 103
------------
PUBLISHING -- 0.0%
25,000 Nation Multimedia Group plc,
expire 08/22/07+ ........... 253
------------
TOTAL WARRANTS ............... 1,401
------------
PRINCIPAL
AMOUNT
--------
CONVERTIBLE CORPORATE BONDS -- 0.1%
BUSINESS SERVICES -- 0.1%
$ 50,000 BBN Corp., Sub. Deb. Cv.,
6.000%, 04/01/12+ (a)(d) ... 0
280,000 Trans-Lux Corp., Sub. Deb. Cv.,
8.250%, 03/01/12 ........... 253,400
------------
TOTAL CONVERTIBLE
CORPORATE BONDS ............ 253,400
------------
U.S. GOVERNMENT OBLIGATIONS -- 8.2%
18,613,000 U.S. Treasury Bills,
4.793% to 5.152%++,
10/12/06 to 03/08/07 ....... 18,393,864
------------
TOTAL INVESTMENTS -- 100.0%
(Cost $164,733,802) ....................... $223,862,108
============
-----------------
Aggregate book cost................. $167,884,133
============
Gross unrealized appreciation ...... $ 66,354,775
Gross unrealized depreciation ...... (10,376,800)
------------
Net unrealized appreciation
(depreciation) ................... $ 55,977,975
============
-----------------
INTEREST RATE SWAPS
FLOATING
NOTIONAL RATE RECEIVED+++ TERMINATION UNREALIZED
AMOUNT FIXED RATE PAID (RATE RESET MONTHLY) DATE APPRECIATION
-------- --------------- ------------------- ------- ------------
$10,000,000 4.32% 5.33000% April 4, 2013 $368,605
15,000,000 3.27 5.33000 April 4, 2008 413,775
(a) 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, 2006, the market value of
fair valued securities amounted to $1,714,878 or 0.77% of total investments.
(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, 2006, the market value of Rule 144A securities amounted to $4,916,848 or
2.20% of total investments. Except as noted in (c), these securities are
liquid.
(c) At September 30, 2006, the Fund held investments in restricted and
illiquid securities amounting to $1,409,188 or 0.63% of total investments,
which were valued under methods approved by the Board, as follows:
09/30/06
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 $10,000.0000
11,691 Interep National
Radio Sales Inc.,
4.000% Cv. Pfd., Ser.A 05/03/02 1,081,573 35.0003
62,500 Interep National
Radio Sales Inc.
Warrants expire 05/06/07 05/03/02 -- --
(d) Security in default.
+ Non-income producing security.
++ Represents annualized yield at date of purchase.
+++ Based on Libor (London Interbank Offered Rate).
ADR American Depository Receipt
GDR Global Depository Receipt
CPO Ordinary Participation Certificate
* 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 theclosing 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 theBoard 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 .................. 73.1% $163,563,840
Europe ......................... 13.0 29,109,984
Latin America .................. 7.6 16,961,209
Asia/Pacific ................... 3.6 8,052,857
Japan .......................... 2.7 6,174,218
----- ------------
Total Investments .............. 100.0% $223,862,108
===== ============
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 11/03/06
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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
Date 11/03/06
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By (Signature and Title)* /s/ Agnes Mullady
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Agnes Mullady,
Principal Financial Officer & Treasurer
Date 11/03/06
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* Print the name and title of each signing officer under his or her signature.