N-CSRS 1 ggo-ncsrs_063021.htm CERTIFIED SEMI-ANNUAL SHAREHOLDER REPORT

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-23035

The Gabelli Go Anywhere 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)

Registrant’s telephone number, including area code: 1-800-422-3554

Date of fiscal year end: December 31

Date of reporting period: June 30, 2021

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

(a)

The Report to Shareholders is attached herewith.

The Gabelli Go Anywhere Trust

Semiannual Report — June 30, 2021

To Our Shareholders,

For the six months ended June 30, 2021, the net asset value (NAV) total return of The Gabelli Go Anywhere Trust (the Fund) was 23.6%, compared with a total return of 15.3% for the Standard & Poor’s (S&P) 500 Index. The total return for the Fund’s publicly traded shares was 36.3%. The Fund’s NAV per share was $17.42, while the price of the publicly traded shares closed at $16.26 on the NYSE American. See page 2 for additional performance information.

Enclosed are the financial statements, including the schedule of investments, as of June 30, 2021.

As permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semiannual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website (www.gabelli.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. To elect to receive all future reports on paper free of charge, please contact your financial intermediary, or, if you invest directly with the Fund, you may call 800-422-3554 or send an email request to info@gabelli.com.

Comparative Results

Average Annual Returns through June 30, 2021 (a) (Unaudited)

	Year to Date		1 Year		3 year		Since Inception (11/2/16)*
Gabelli Go Anywhere Trust (GGO)
NAV Total Return (b)	23.57	%	64.60	%	(0.32	)%	1.75	%
Investment Total Return (c)	36.34		70.70		(3.73	)	(4.39	)
S&P 500 Index	15.25		40.79		18.67		18.89

*	For purposes of calculating these comparative results, November 2, 2016, the date when the common shares began trading separately on the NYSE American, is considered the inception date.

(a)	Performance returns for periods of less than one year are not annualized. The S&P 500 Index is an unmanaged indicator of stock market performance. Dividends are considered reinvested. You cannot invest directly in an index.

(b)	The total returns reflect changes in the NAV per share and are net of expenses. The since inception return is based on a NAV of $18.46 as of November 2, 2016. During the period September 2, 2016 through November 1, 2016, the Fund traded as a combination.

(c)	The total returns reflect changes in the closing market value on the NYSE American. The since inception return is based on a price of $19.75 as of November 2, 2016. During the period September 2, 2016 through November 1, 2016, the Fund traded as a combination.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing.

Returns represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will fluctuate. The Fund’s use of leverage may magnify the volatility of net asset value changes versus funds that do not employ leverage. 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.

Summary of Portfolio Holdings (Unaudited)

The following tables present portfolio holdings as a percent of total investments as of June 30, 2021:

The Gabelli Go Anywhere Trust

U.S. Government Obligations	45.9	%
Health Care	6.1	%
Automotive: Parts and Accessories	5.1	%
Financial Services	5.0	%
Machinery	4.6	%
Entertainment	4.4	%
Cable and Satellite	3.7	%
Energy and Utilities	3.3	%
Equipment and Supplies	2.6	%
Real Estate	2.5	%
Diversified Industrial	2.3	%
Food and Beverage	2.2	%
Aerospace	2.0	%
Specialty Chemicals	2.0	%

Media	1.7	%
Computer Software and Services	1.4	%
Consumer Products	1.3	%
Metals and Mining	1.1	%
Telecommunications	1.1	%
Transportation	0.5	%
Building and Construction	0.5	%
Agriculture	0.3	%
Publishing	0.3	%
Closed-End Funds	0.1	%
Retail	0.0	%*
	100.0	%

Amount represents less than 0.05%.

The Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission (the SEC) for the first and third quarters of each fiscal year on Form N-PORT. Shareholders may obtain this information at www.gabelli.com or by calling the Fund at 800-GABELLI (800-422-3554). The Fund’s Form N-PORT is available on the SEC’s website at www.sec.gov and may also be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

Proxy Voting

The Fund files Form N-PX with its complete proxy voting record for the twelve months ended June 30, no later than August 31 of each year. A description of the Fund’s proxy voting policies, procedures, and how each Fund voted proxies relating to portfolio securities is available without charge, upon request, by (i) calling 800-GABELLI (800-422-3554); (ii) writing to The Gabelli Funds at One Corporate Center, Rye, NY 10580-1422; or (iii) visiting the SEC’s website at www.sec.gov.

Certifications

The Fund’s Chief Executive Officer has certified to the New York Stock Exchange (NYSE) that, as of June 7, 2021, he was not aware of any violation by the Fund of applicable NYSE corporate governance listing standards. The Fund reports to the SEC on Form N-CSR which contains certifications by the Fund’s principal executive officer and principal financial officer that relate to the Fund’s disclosure in such reports and that are required by Rule 30a-2(a) under the 1940 Act.

The Gabelli Go Anywhere Trust

Schedule of Investments — June 30, 2021 (Unaudited)

Shares			Cost		Market Value
		COMMON STOCKS — 53.9%
		Health Care — 6.1%
	40,000	Achaogen Inc.†	$	9,938	$	1,000
	15,000	Bausch Health Cos. Inc.†		313,245		439,800
	7,000	Bluebird Bio Inc.†		215,202		223,860
	3,000	Covetrus Inc.†		30,581		81,000
	8,000	Cutera Inc.†		162,405		392,240
	5,000	Idorsia Ltd.†		63,648		137,476
	3,800	IntriCon Corp.†		65,384		85,424
	1,500	NeoGenomics Inc.†		20,823		67,755
	65,000	Viatris Inc.		1,041,514		928,850
				1,922,740		2,357,405
		Automotive: Parts and Accessories — 5.1%
	8,000	Dana Inc.		81,420		190,080
	40,000	Navistar International Corp.†		1,636,076		1,780,000
				1,717,496		1,970,080
		Financial Services — 5.0%
	3,500	Citigroup Inc.		177,224		247,625
	2,000	Flushing Financial Corp.		35,728		42,860
	4,000	Icahn Enterprises LP		121,690		219,960
	8,000	Steel Partners Holdings LP†		74,848		232,960
	11,000	The Bank of New York Mellon Corp.		466,482		563,530
	1,000	The PNC Financial Services Group Inc.		89,359		190,760
	9,500	Wells Fargo & Co.		372,251		430,255
				1,337,582		1,927,950
		Machinery — 4.6%
	6,500	Astec Industries Inc.		205,560		409,110
	70,000	CNH Industrial NV		731,034		1,155,810
	16,500	Twin Disc Inc.†		158,649		234,795
				1,095,243		1,799,715
		Entertainment — 4.4%
	3,000	Cherry AB, Cl.B†(a)		28,485		30,497
	10,000	Gamesys Group plc		267,952		255,081
	55,000	Grupo Televisa SAB, ADR		569,772		785,400
	7,000	Liberty Media Corp.- Liberty Braves, Cl.A†		148,236		197,540
	28,800	Sirius XM Holdings Inc.		133,701		188,352
	5,000	ViacomCBS Inc., Cl.A		234,721		242,250
				1,382,867		1,699,120
		Cable and Satellite — 3.7%
	70,000	WideOpenWest Inc.†		459,669		1,449,700

		Energy and Utilities — 3.3%
	8,000	Halliburton Co.		153,107		184,960
	3,000	Mueller Water Products Inc., Cl.A		32,972		43,260

Shares			Cost		Market Value
	3,200	National Fuel Gas Co.	$	151,085	$	167,200
	15,000	PNM Resources Inc.		731,331		731,550
	2,000	Solarpack Corp. Tecnologica SA†		63,499		62,015
	2,000	The AES Corp.		20,660		52,140
	1,000	UGI Corp.		35,845		46,310
				1,188,499		1,287,435
		Equipment and Supplies — 2.6%
	7,500	Flowserve Corp.		287,543		302,400
	15,000	Mueller Industries Inc.		406,445		649,650
	2,300	The Eastern Co.		52,181		69,759
				746,169		1,021,809
		Real Estate — 2.5%
	13,831	Indus Realty Trust Inc., REIT		427,472		908,005
	36,000	Trinity Place Holdings Inc., REIT†		96,075		75,960
				523,547		983,965
		Diversified Industrial — 2.3%
	12,151	Ampco-Pittsburgh Corp.†		82,367		73,756
	1,000	EnPro Industries Inc.		47,530		97,150
	5,000	Griffon Corp.		73,918		128,150
	1,700	Hyster-Yale Materials Handling Inc.		92,055		124,066
	12,000	Myers Industries Inc.		176,830		252,000
	3,000	Textron Inc.		143,184		206,310
				615,884		881,432
		Food and Beverage — 2.2%
	400	Chr. Hansen Holding A/S		21,943		36,101
	1,000	Diageo plc, ADR		106,429		191,690
	13,500	Farmer Brothers Co.†		63,045		171,315
	1,000	Nestlé SA		73,910		124,529
	700	Pernod Ricard SA		74,288		155,381
	800	Remy Cointreau SA		78,836		165,151
				418,451		844,167
		Aerospace — 2.0%
	15,000	Aerojet Rocketdyne Holdings Inc.		788,423		724,350
	1,500	Allied Motion Technologies Inc.		30,891		51,795
				819,314		776,145
		Specialty Chemicals — 2.0%
	13,200	Ferro Corp.†		198,451		284,724
	21,000	GCP Applied Technologies Inc.†		482,606		488,460
				681,057		773,184

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Schedule of Investments (Continued) — June 30, 2021 (Unaudited)

Shares			Cost		Market Value
		COMMON STOCKS (Continued)
		Media — 1.7%
	20,000	Sinclair Broadcast Group Inc., Cl.A	$	557,317	$	664,400

		Computer Software and Services — 1.4%
	1,500	Diebold Nixdorf Inc.†		4,185		19,260
	3,600	Digi International Inc.†		34,197		72,396
	7,500	FireEye Inc.†		106,783		151,650
	10,000	Hewlett Packard Enterprise Co.		129,675		145,800
	500	Rockwell Automation Inc.		88,816		143,010
				363,656		532,116
		Consumer Products — 1.3%
	500	Edgewell Personal Care Co.		22,965		21,950
	2,500	Energizer Holdings Inc.		98,005		107,450
	18,000	Mattel Inc.†		210,295		361,800
				331,265		491,200
		Telecommunications — 1.1%
	7,000	Lumen Technologies Inc.		76,175		95,130
	500	Telephone and Data Systems Inc.		10,213		11,330
	2,800	United States Cellular Corp.†		103,374		101,668
	5,000	Vantage Towers AG†		143,100		161,025
	28,000	VEON Ltd., ADR†		92,050		51,240
				424,912		420,393
		Metals and Mining — 1.0%
	10,000	Freeport-McMoRan Inc.		114,554		371,100

		Transportation — 0.5%
	22,500	Bollore SA		92,451		120,591
	1,000	GATX Corp.		42,524		88,470
				134,975		209,061
		Building and Construction — 0.5%
	26,000	Armstrong Flooring Inc.†		102,447		160,940
	500	Bouygues SA		14,873		18,492
				117,320		179,432
		Agriculture — 0.3%
	3,000	Corteva Inc.		141,518		133,050

		Publishing — 0.3%
	5,000	The E.W. Scripps Co., Cl.A		57,372		101,950

		Retail — 0.0%
	1,200	Cars.com Inc.†		10,218		17,196

		TOTAL COMMON STOCKS		15,161,625		20,892,005

Shares			Cost		Market Value
		CLOSED-END FUNDS — 0.1%
	3,000	Altaba Inc., Escrow†	$	30,855	$	43,650

		RIGHTS— 0.1%
		Metals and Mining — 0.1%
	67,000	Pan American Silver Corp., CVR†		15,410		56,950

		Health Care — 0.0%
	10,000	Dova Pharmaceuticals Inc., CVR†		0		1,250
	25,000	Innocoll, CVR†(a)		15,000		0
	10,000	Ipsen SA/Clementia, CVR†(a)		13,500		0
	3,600	Ocera Therapeutics, CVR†(a)		972		612
				29,472		1,862
		TOTAL RIGHTS		44,882		58,812

		WARRANTS — 0.0%
		Energy and Utilities — 0.0%
	1,155	Weatherford International plc, expire 12/13/23†		0		508

Principal Amount
		U.S. GOVERNMENT OBLIGATIONS — 45.9%
$	17,793,000	U.S. Treasury Bills, 0.006% to 0.090%††, 07/01/21 to 12/30/21		17,791,600		17,791,389

TOTAL INVESTMENTS — 100.0%			$	33,028,962		38,786,364

Other Assets and Liabilities (Net)						(433,143	)

PREFERRED SHARES
(285,267 preferred shares outstanding)						(11,410,680	)

NET ASSETS — COMMON SHARES
(1,546,852 common shares outstanding)					$	26,942,541

NET ASSET VALUE PER COMMON SHARE
($26,942,541 ÷ 1,546,852 shares outstanding)					$	17.42

(a)	Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

†	Non-income producing security.

††	Represents annualized yields at dates of purchase.

ADR	American Depositary Receipt

CVR	Contingent Value Right

REIT	Real Estate Investment Trust

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Statement of Assets and Liabilities

June 30, 2021 (Unaudited)

Assets:
Investments, at value (cost $33,028,962)	$	38,786,364
Cash		10,740
Deposit at brokers		173,729
Receivable for Fund shares sold		596
Dividends receivable		15,425
Total Assets		38,986,854
Liabilities:
Distributions payable		7,924
Payable for investments purchased		499,861
Payable for investment advisory fees		11,063
Payable for payroll expenses		5,350
Payable for legal and audit fees		46,983
Other accrued expenses		62,452
Total Liabilities		633,633
Preferred Shares, $0.001 par value, unlimited number of shares authorized:
Series A Cumulative, Puttable, and Callable Preferred Shares (5.000%, $40 liquidation value, 285,267 shares issued and outstanding)		11,410,680

Net Assets Attributable to Common Shareholders	$	26,942,541

Net Assets Attributable to Common Shareholders Consist of:
Paid-in capital	$	24,379,480
Total distributable earnings		2,563,061
Net Assets	$	26,942,541

Net Asset Value per Common Share:
($26,942,541 ÷ 1,546,852 shares outstanding at $0.001 par value; unlimited number of shares authorized)	$	17.42

Statement of Operations

For the Six Months Ended June 30, 2021 (Unaudited)

Investment Income:
Dividends (net of foreign withholding taxes of $1,076)	$	302,078
Non-cash dividends		27,018
Interest		5,021
Total Investment Income		334,117
Expenses:
Investment advisory fees		91,783
Legal and audit fees		48,283
Shareholder communications expenses		25,700
Trustees’ fees		25,096
Shareholder services fees		16,732
Payroll expenses		15,577
Custodian fees		5,968
Interest expense		699
Miscellaneous expenses		20,210
Total Expenses		250,048
Less:
Expenses paid indirectly by broker (See Note 3)		(699	)
Advisory fee reduction (See Note 3)		(28,780	)
Total Credits		(29,479	)
Net Expenses		220,569
Net Investment Income		113,548
Net Realized and Unrealized Gain/(Loss) on
Investments and Foreign Currency:
Net realized gain on investments		4,196,641
Net realized loss on foreign currency transactions		(20	)

Net realized gain on investments and foreign currency transactions		4,196,621
Net change in unrealized appreciation/depreciation:
on investments		1,141,060
on foreign currency translations		(337	)

Net change in unrealized appreciation/depreciation on investments and foreign currency translations		1,140,723
Net Realized and Unrealized Gain/(Loss) on
Investments and Foreign Currency		5,337,344
Net Increase in Net Assets Resulting from Operations		5,450,892
Total Distributions to Preferred Shareholders		(289,000	)
Net Increase in Net Assets Attributable to Common Shareholders Resulting from Operations	$	5,161,892

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Statement of Changes in Net Assets Attributable to Common Stockholders

	Six Months Ended
	June 30, 2021				Year Ended
	(Unaudited)				December 31, 2020

Operations:
Net investment income/(loss)		$	113,548			$	(266,966	)
Net realized gain/(loss) on investments and foreign currency transactions			4,196,621				(6,641,525	)
Net change in unrealized appreciation/depreciation on investments and foreign currency translations			1,140,723				2,019,337
Net Increase/(Decrease) in Net Assets Resulting from Operations			5,450,892				(4,889,154	)
Distributions to Preferred Shareholders:
Accumulated earnings			(289,000	)*			—
Return of capital			—				(694,325	)
Total Distributions to Preferred Shareholders			(289,000	)			(694,325	)

Net Increase/(Decrease) in Net Assets Attributable to Common Shareholders Resulting from Operations			5,161,892				(5,583,479	)

Distributions to Common Shareholders:
Accumulated earnings			(154,690	)*			—
Return of capital			—				(542,440	)
Total Distributions to Common Shareholders			(154,690	)			(542,440	)

Fund Share Transactions:
Net decrease in net assets from repurchase of common shares			(20,720	)			(98,898	)
Net increase/(decrease) in net assets from repurchase of preferred shares			(3,951	)			116,304
Recapture of gain on sale of Fund shares by an affiliate			—				506
Net Increase/(Decrease) in Net Assets from Fund Share Transactions			(24,671	)			18,002

Net Increase/(Decrease) in Net Assets Attributable to Common Shareholders			4,982,531				(6,107,917	)

Net Assets Attributable to Common Shareholders:
Beginning of year			21,960,010				28,067,927
End of period		$	26,942,541			$	21,960,010

Based on year to date book income. Amounts are subject to change and recharacterization at year end.

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Financial Highlights

Selected data for a common share of beneficial interest outstanding throughout each period:

	Six Months Ended			Year Ended December 31,												Period Ended
	June 30, 2021															December 31,
	(Unaudited)			2020			2019			2018			2017			2016(a)
Operating Performance:
Net asset value, beginning of period	$	14.18		$	18.05		$	15.36		$	20.30		$	18.82		$	18.96	(b)
Net investment income/(loss)		0.07	(c)		(0.17	)		(0.03	)		(0.04	)		(0.02	)		(0.12	)
Net realized and unrealized gain/ (loss) on investments and foreign currency transactions		3.45			(2.99	)		4.10			(3.43	)		2.63			0.32
Total from investment operations		3.52			(3.16	)		4.07			(3.47	)		2.61			0.20
Distributions to Preferred Shareholders: (d)
Net investment income		(0.00	)*(e)		—			—			—			(0.01	)		—
Net realized gain		(0.18	)*		—			(0.27	)		(0.67	)		(0.89	)		—
Return of capital		—			(0.45	)		(0.39	)		—			(0.06	)		(0.34	)
Total distributions to preferred shareholders		(0.18	)		(0.45	)		(0.66	)		(0.67	)		(0.96	)		(0.34	)
Net Increase/(Decrease) in Net Assets Attributable to Common Shareholders Resulting from Operations		3.34			(3.61	)		3.41			(4.14	)		1.65			(0.14	)
Distributions to Common Shareholders:
Net investment income		(0.00	)*(e)		—			—			—			—			—
Net realized gain		(0.10	)*		—			—			(0.28	)		—			—
Return of capital		—			(0.35	)		(0.80	)		(0.52	)		(0.20	)		—
Total distributions to common shareholders		(0.10	)		(0.35	)		(0.80	)		(0.80	)		(0.20	)		—
Fund Share Transactions:
Increase in net asset value from common shares issued upon reinvestment of dividends		—			—			—			0.00	(e)		—			—
Increase in net asset value from repurchase of common shares		0.00	(e)		0.01			0.08			—			—			—
Increase/(decrease) in net asset value from repurchase of preferred shares		(0.00	)(e)		0.08			—			—			—			—
Recapture of gain on sale of Fund shares by an affiliate		—			0.00	(e)		—			—			0.03			—
Total Fund share transactions		(0.00	)(e)		0.09			0.08			0.00	(e)		0.03			—
Net Asset Value Attributable to Common Shareholders, End of Period	$	17.42		$	14.18		$	18.05		$	15.36		$	20.30		$	18.82
NAV total return †		23.57	%		(18.58	)%		23.03	%		(21.13	)%		8.94	%		1.95	%
Market value, end of period	$	16.26		$	12.00		$	15.41		$	14.10		$	18.04		$	21.03
Investment total return ††		36.34	%		(19.00	)%		14.73	%		(18.30	)%		(13.27	)%		6.48	%
Ratios to Average Net Assets and Supplemental Data:
Net assets including liquidation value of preferred shares, end of period (in 000’s)	$	38,353		$	33,611		$	49,122		$	46,233		$	54,154		$	51,780
Net assets attributable to common shares, end of period (in 000’s)	$	26,943		$	21,960		$	28,068		$	24,763		$	32,684		$	30,310

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Financial Highlights (Continued)

Selected data for a common share of beneficial interest outstanding throughout each period:


	Six Months Ended															Period Ended
	June 30, 2021			Year Ended December 31,												December 31,
	(Unaudited)			2020			2019			2018			2017			2016(a)
Ratio of net investment income/ (loss) to average net assets attributable to common shares before preferred distributions		0.90	%(c)(f)		(1.39	)%		(0.14	)%		(0.23	)%		(0.09	)%		(2.02	)%(f)
Ratio of operating expenses to average net assets attributable to common shares before fees waived (g)		1.98	%(f)(h)		3.45	%(h)		2.91	%(h)		2.78	%(h)		2.50	%(h)		2.95	%(f)
Ratio of operating expense to average net assets attributable to common shareholders net of advisory fee reduction, if any (i)		1.75	%(f)		3.08	%		2.91	%		2.78	%		2.50	%		2.95	%(f)
Portfolio turnover rate		46	%		60	%		86	%		102	%		180	%		102	%
Series A Cumulative Preferred Shares
Liquidation value, end of period (in 000’s)	$	11,411		$	11,651		$	21,054		$	21,470		$	21,470		$	21,470
Total shares outstanding (in 000’s)		285			292			526			537			537			537
Liquidation preference per share	$	40.00		$	40.00		$	40.00		$	40.00		$	40.00		$	40.00
Average market value (j)	$	40.76		$	40.79		$	41.34		$	42.51		$	44.91		$	50.97
Asset coverage per share	$	134.45		$	115.39		$	93.33		$	86.14		$	100.89		$	96.47
Asset Coverage		336	%		288	%		233	%		215	%		252	%		241	%

†

The NAV total return reflects changes in the NAV per share and is net of expenses. The inception return is based on an NAV of $18.46 as of November 2, 2016. During the period September 2, 2016 through November 1, 2016, the Fund traded as a combination. Total return for a period of less than one year is not annualized.

††

The investment total return reflects changes in closing market value on the NYSE American. Inception return is based on a price of $19.75 as of November 2, 2016. During the period September 2, 2016 through November 1, 2016, the Fund traded as a combination. Total return for a period of less than one year is not annualized.

*	Based on year to date book income. Amounts are subject to change and recharacterization at year end.

(a)	The Fund commenced investment operations on September 2, 2016.

(b)	The beginning of period NAV reflects a $0.04 reduction for offering costs associated with the initial public offering.

(c)	Includes income resulting from special dividends. Without these dividends, the per share income amount would have been $0.06, and the net investment income ratio would have been 0.69%.

(d)	Calculated based on average common shares outstanding on the record dates throughout the periods.

(e)	Amount represents less than $0.005 per share.

(f)	Annualized.

(g)

Ratio of operating expenses to average net assets including liquidation value of preferred shares before fees waived/fee reduction for the six months ended June 30, 2021 and the years ended December 31, 2020, 2019, 2018, 2017, and the period ended December 31, 2016 would have been 1.36%, 1.99%, 1.64%, 1.65%, 1.48%, and 1.73%, respectively.

(h)	The Fund received credits from a designated broker who agreed to pay certain Fund operating expenses. For the six months ended June 30, 2021 and the years ended December 31, 2020, 2019, 2018, and 2017, there was no impact on the expense ratios.

(i)

Ratio of operating expenses to average net assets including liquidation value of preferred shares net of advisory fee reduction for the six months ended June 30, 2021 and the years ended December 31, 2020, 2019, 2018, 2017, and the period ended December 31, 2016 would have been 1.20%, 1.78%, 1.64%, 1.65%, 1.48%, and 1.73%, respectively.

(j)	The average market value of the Series A preferred shares is based on weekly prices that are above the liquidation price of a Series A preferred share and these market prices are not likely to be sustainable.

See accompanying notes to financial statements.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited)

1. Organization. The Gabelli Go Anywhere Trust (the Fund) is a non-diversified closed-end management investment company organized as a Delaware statutory trust on February 26, 2015 and registered under the Investment Company Act of 1940, as amended (the 1940 Act), whose primary objective is total return, consisting of capital appreciation and current income. Investment operations commenced on September 2, 2016.

Under normal market conditions, the Fund intends to invest primarily in a broad range of equity securities consisting of common stock, preferred stock, convertible or exchangeable securities, depositary receipts, and warrants and rights to purchase such securities and, to a lesser extent, in debt securities.

2. Significant Accounting Policies. 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 financial statements. 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 financial statements.

The global outbreak of the novel coronavirus disease, known as COVID-19, has caused adverse effects on many companies, sectors, nations, regions and the markets in general, and may continue for an unpredictable duration. The effects of this pandemic may materially impact the value and performance of the Fund, its ability to buy and sell fund investments at appropriate valuations, and its ability to achieve its investment objectives.

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 market’s 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 obligations 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 securities are valued using the closing bid price, 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. Certain securities are valued principally using dealer quotations. Futures contracts are valued at the closing settlement price of the exchange or board of trade on which the applicable contract is traded. OTC futures and options on futures for which market quotations are readily available will be valued by quotations received from a pricing service or, if no quotations are available from a pricing service, by quotations obtained from one or more dealers in the instrument in question by the Adviser.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

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 Fund’s 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 Board’s determinations as to the fair value of investments).

A financial instrument’s 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 Fund’s investments in securities by inputs used to value the Fund’s investments as of June 30, 2021 is as follows:

	Valuation Inputs
	Level 1 Quoted Prices		Level 2 Other Significant Observable Inputs		Level 3 Significant Unobservable Inputs (a)		Total Market Value at 06/30/21
INVESTMENTS IN SECURITIES:
ASSETS (Market Value):
Common Stocks:
Entertainment	$	1,668,623		—	$	30,497	$	1,699,120
Health Care		2,356,405	$	1,000		—		2,357,405
Other Industries (b)		16,835,480		—		—		16,835,480
Total Common Stocks		20,860,508		1,000		30,497		20,892,005
Closed-End Funds		—		43,650		—		43,650
Rights (b)		56,950		1,250		612		58,812
Warrants (b)		508		—		—		508
U.S. Government Obligations		—		17,791,389		—		17,791,389
TOTAL INVESTMENTS IN SECURITIES – ASSETS	$	20,917,966	$	17,837,289	$	31,109	$	38,786,364

(a)	Level 3 securities are valued at last available closing price. The inputs for these securities are not readily available and are derived based on the judgment of the Adviser according to procedures approved by the Board of Trustees.

(b)	Please refer to the Schedule of Investments for the industry classifications of these portfolio holdings.

During the six months ended June 30, 2021, the Fund did not have transfers into or out of Level 3.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

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 are 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 or preferred equities, warrants, options, rights, or 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. When fair valuing a security, factors to consider include 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 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 may include backtesting the prices realized in subsequent trades of these fair valued securities to fair values previously recognized.

Investments in other Investment Companies. The Fund may invest, from time to time, in shares of other investment companies (or entities that would be considered investment companies but are excluded from the definition pursuant to certain exceptions under the 1940 Act) (the Acquired Funds) in accordance with the 1940 Act and related rules. Shareholders in the Fund would bear the pro rata port on of the periodic expenses of the Acquired Funds in addition to the Fund’s expenses. For the six months ended June 30, 2021, the Fund’s pro rata portion of the periodic expenses charged by the Acquired Funds was less than one basis point.

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.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

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 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.

Securities Transactions and Investment Income. Securities transactions are accounted for on the trade date with realized gain/(loss) on investments determined by using the identified cost method. Interest income (including amortization of premium and accretion of discount) is recorded on an accrual basis. Premiums and discounts on debt securities are amortized using the effective yield to maturity method or amortized to earliest call date, if applicable. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities that are recorded as soon after the ex-dividend date as the Fund becomes aware of such dividends.

Distributions to Shareholders. Distributions to common shareholders are recorded on the ex-dividend date. Distributions to shareholders are based on income and capital gains as determined in accordance with federal income tax regulations, which may differ from income and capital gains as determined under GAAP. These differences are primarily due to differing treatments of income and gains on various investment securities and foreign currency transactions held by the Fund, timing differences, and differing characterizations of distributions made by the Fund. Distributions from net investment income for federal income tax purposes include net realized gains on foreign currency transactions. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, adjustments are made to the appropriate capital accounts in the period when the differences arise. These reclassifications have no impact on the NAV of the Fund.

Under the Fund’s current common share distribution policy, the Fund declares and pays quarterly distributions from net investment income, capital gains, and paid-in capital. The actual source of the distribution is determined after the end of the year. Pursuant to this policy, distributions during the year may be made in excess of required

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

distributions. To the extent such distributions are made from current earnings and profits, they are considered ordinary income or long term capital gains. Distributions sourced from paid-in capital should not be considered as dividend yield or the total return from an investment in the Fund. The Board will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s NAV and the financial market environment. The Fund’s distribution policy is subject to modification by the Board at any time.

Distributions to shareholders of the Fund’s Series A Cumulative Puttable and Callable Preferred Shares (Preferred Shares) are recorded on a daily basis and are determined as described in Note 5.

The tax character of distributions paid during the year ended December 31, 2020 was as follows:

	Common		Preferred
Distributions paid from:
Return of capital	$	542,440	$	694,325

Provision for Income Taxes. The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code). It is the policy of the Fund to comply with the requirements of the Code applicable to regulated investment companies and to distribute substantially all of its net investment company taxable income and net capital gains. Therefore, no provision for federal income taxes is required.

At December 31, 2020, the Fund had net capital loss carryforwards for federal income tax purposes which are available to reduce future required distributions of net capital gains to shareholders. The Fund is permitted to carry capital losses forward for an unlimited period. Capital losses that are carried forward will retain their character as either short term or long term capital losses.

Short term capital loss carryforward with no expiration	$	833,204
Long term capital loss carryforward with no expiration		5,162,649
Total Capital Loss Carryforwards	$	5,995,853

The following summarizes the tax cost of investments and the related net unrealized appreciation at June 30, 2021:

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

Depreciation

Net Unrealized

Appreciation

Investments

$33,602,097

$6,067,333

$(883,066)

$5,184,267

The Fund is required to evaluate tax positions taken or expected to be taken in the course of preparing the Fund’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Income tax and related interest and penalties would be recognized by the Fund as tax expense in the Statement of Operations if the tax positions were deemed not to meet the more-likely-than-not threshold. For the six months ended June 30, 2021, the Fund did not incur any income tax, interest, or penalties. As of June 30, 2021, the Adviser has reviewed all open tax years and concluded that there was no impact to the Fund’s net assets or results of operations. The Fund’s federal and state tax returns for the prior three fiscal years

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

remain open, subject to examination. On an ongoing basis, the Adviser will monitor the Fund’s tax positions to determine if adjustments to this conclusion are necessary.

3. Investment Advisory Agreement and Other Transactions. The Fund has entered into an investment advisory agreement (the Advisory Agreement) with the Adviser which provides that the Fund will pay the Adviser a fee, computed weekly and paid monthly, equal on an annual basis to 1.00% of the value of the Fund’s average weekly net assets including the liquidation value of preferred shares. Effective September 1, 2020 the Adviser agreed to voluntarily waive its advisory fee to 0.50% with respect to all of the Trust’s outstanding common stock and to 0.00% with respect to all of the Trust’s outstanding Series A Preferred shares. In accordance with the Advisory Agreement, the Adviser provides a continuous investment program for the Fund’s portfolio and oversees the administration of all aspects of the Fund’s business and affairs. During the six months ended June 30, 2021, the Adviser waived expenses in the amount of $28,780.

During the six months ended June 30, 2021, the Fund paid $4,702 in brokerage commissions on security trades to G.research, LLC, an affiliate of the Adviser.

During the six months ended June 30, 2021, the Fund received credits from a designated broker who agreed to pay certain Fund operating expenses. The amount of such expenses paid through this directed brokerage arrangement during this period was $699.

The cost of calculating the Fund’s NAV per share is a Fund expense pursuant to the Advisory Agreement. Under the sub-administration agreement with Bank of New York Mellon, the fees paid include the cost of calculating the Fund’s NAV. The Fund reimburses the Adviser for this service. The Adviser did not seek a reimbursement during the six months ended June 30, 2021.

As per the approval of the Board, the Fund compensates officers of the Fund, who are employed by the Fund and are not employed by the Adviser (although the officers may receive incentive based variable compensation from the Adviser or its affiliates). During the six months ended June 30, 2021, the Fund accrued $15,577 in payroll expenses in the Statement of Operations.

The Fund pays retainer and per meeting fees to Trustees not affiliated with the Adviser, plus specified amounts to the Lead Trustee and Audit Committee Chairman. Trustees are also reimbursed for out of pocket expenses incurred in attending meetings. Trustees who are directors or employees of the Adviser or an affiliated company receive no compensation or expense reimbursement from the Fund.

4. Portfolio Securities. Purchases and sales of securities during the six months ended June 30, 2021, other than short term securities and U.S. Government obligations, aggregated $9,416,733 and $13,563,883, respectively.

5. Capital. The Fund is authorized to issue an unlimited number of capital shares of $0.001 par value, which the Board may classify from time to time as common shares of beneficial interest or preferred shares. On September 2, 2016, the Fund offered up to 2,000,000 combinations consisting of three Common Shares and one $40 Preferred Share. This offering was in addition to 1,713 combinations issued previously as seed capital for $166,161. Pursuant to the offering on September 2, 2016, the Fund issued 535,031 combinations receiving proceeds of $51,898,007, before deduction of offering expenses of $63,609. On November 2, 2016, the combination split and began trading separately on the NYSE American as common shares and preferred

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

shares. The Board has authorized the Fund to repurchase its common shares in the open market when the common shares are trading at a discount from NAV of 7.5% or more (or such other percentage as the Board may determine from time to time) and to repurchase its Preferred Shares at prices determined to be beneficial to common shareholders. During the six months ended June 30, 2021 and the year ended December 31, 2020, the Fund repurchased and retired 1,575 and 6,788 of its common shares at an investment of $20,720 and $98,898 and an average discount of approximately 13.43% and 12.37%, respectively, from its NAV.

Transactions in shares of common shares of beneficial interest were as follows:

	Six Months Ended June 30, 2021 (Unaudited)						Year Ended December 31, 2020
	Shares			Amount			Shares			Amount

Decrease from repurchase of common shares		(1,575	)	$	(20,720	)		(6,788	)	$	(98,898	)

At no later than 30 days prior to September 2, 2021, the then outstanding common shares will be subject to a tender offer at a price per common share determined by the Board and expressed as a percentage (but not less than 95%) of the NAV per common share most recently determined as of the close of business on the last business day prior to the date the Fund purchases common shares.

The Preferred Shares are senior to the common shares and result in the financial leveraging of the common shares. Such leveraging tends to magnify both the risks and opportunities to common shareholders. Dividends on shares of the Preferred Shares are cumulative. The Fund is required by the 1940 Act and by the Statement of Preferences to meet certain asset coverage tests with respect to the Preferred Shares. If the Fund fails to meet these requirements and does not correct such failure, the Fund may be required to redeem, in part or in full, the Preferred Shares at the redemption price of $40 per share plus an amount equal to the accumulated and unpaid dividends whether or not declared on such shares in order to meet these requirements. Additionally, failure to meet the foregoing asset coverage requirements could restrict the Fund’s ability to pay dividends to common shareholders and could lead to sales of portfolio securities at inopportune times. The income received on the Fund’s assets may vary in a manner unrelated to the fixed rate, which could have either a beneficial or detrimental impact on net investment income and gains available to common shareholders.

The liquidation value of the Preferred Shares is $40 per share. The Preferred Shares had an annual dividend rate of 8.00% through June 2017 and 5.00% for the subsequent eight dividend periods ending on or prior to June 26, 2019. On July 22, 2019, the Board of Trustees approved the continuation of the annual dividend rate for the Series A Preferred Shares at 5.00%, effective for one year after the dividend period ended September 26, 2019. The Board approved the continuation of the annual dividend rate for the Series A Preferred Shares at 5.00%, effective for one year after the dividend period ended September 26, 2020.

During the six months ended June 30, 2021, the Fund repurchased and retired 6,012 Series A Preferred at an investment of $244,431.

At June 30, 2021, 285,267 Series A Preferred were outstanding and accrued dividends amounted to $7,924.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

The holders of Preferred Shares generally are entitled to one vote per share held on each matter submitted to a vote of shareholders of the Fund and will vote together with holders of common shares as a single class. The holders of Preferred Shares voting together as a single class also have the right currently to elect two Trustees and under certain circumstances are entitled to elect a majority of the Board of Trustees. In addition, the affirmative vote of a majority of the votes entitled to be cast by holders of all outstanding shares of the Preferred Shares, voting as a single class, will be required to approve any plan of reorganization adversely affecting the Preferred Shares, and the approval of two-thirds of each class, voting separately, of the Fund’s outstanding voting shares must approve the conversion of the Fund from a closed-end to an open-end investment company. The approval of a majority (as defined in the 1940 Act) of the outstanding preferred shares and a majority (as defined in the 1940 Act) of the Fund’s outstanding voting securities are required to approve certain other actions, including changes in the Fund’s investment objectives or fundamental investment policies.

On May 14, 2021, the Board announced that, commencing five years from the closing date of the offering (September 15, 2016), and thereafter, to the extent permitted by the 1940 Act and Delaware law, the Fund intends, upon notice, to redeem the Series A Preferred Shares at a price equal to the liquidation preference ($40.00) per share plus accumulated but unpaid distributions through the date of redemption.

6. Significant Shareholder. As of June 30, 2021, 69.6% of the Common Shares and 33.0% of the Preferred Shares were beneficially owned by the Adviser or its affiliates, including managed accounts for which the affiliates of the Adviser have voting control but disclaim pecuniary interest.

7. Indemnifications. The Fund enters into contracts that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, the Fund has not had prior claims or losses pursuant to these contracts. Management has reviewed the Fund’s existing contracts and expects the risk of loss to be remote.

8. Subsequent Events. On August 2, 2021, the Fund issued a press release announcing the Fund’s intention to commence a tender offer to purchase for cash all of the Fund’s issued and outstanding Common Shares. The tender offer will only be made to current holders of Common Shares (Shareholders). The tender offer will commence on August 3, 2021, and will expire at 5:00 p.m., Eastern time on Friday, September 24, 2021, unless otherwise extended. Subject to various terms and conditions described in the offering materials to be distributed to Shareholders, purchases will be made at a price equal to 98% of the net asset value per Common Share.

Management has evaluated the impact on the Fund of all other subsequent events occurring through the date the financial statements were issued and has determined that there were no other subsequent events requiring recognition or disclosure in the financial statements.

The Gabelli Go Anywhere Trust

Notes to Financial Statements (Unaudited) (Continued)

Shareholder Meeting – May 10, 2021 – Final Results

The Fund’s Annual Meeting of Shareholders was held virtually on May 10, 2021. At that meeting, common and preferred shareholders elected Calgary Avansino, Michael J. Melarkey, and Christina A. Peeney as Trustees of the Fund, with a total 1,760,990 votes, 1,761,111 votes, and 1,760,990 votes cast in favor of these Trustees, and a total of 1,532 votes and 1,411 votes, and 1,532 votes withheld for these Trustees, respectively.

Mario J. Gabelli, Frank J. Fahrenkopf, Jr., Anthony S. Colavita, and Kuni Nakamura continue to serve in their capacities as Trustees of the Fund.

We thank you for your participation and appreciate your continued support.

AUTOMATIC DIVIDEND REINVESTMENT

AND VOLUNTARY CASH PURCHASE PLANS

Under the Fund’s Automatic Dividend Reinvestment Plan and Voluntary Cash Purchase Plan (the “Plan”), a shareholder whose shares of common s tock are registered in his or her own name will have all distributions reinvested automatically by Computershare Trust Company, N.A. (“Computershare”), which is an agent under the Plan, unless the shareholder elects to receive cash. Distributions with respect to shares registered in the name of a broker-dealer or other nominee (that is, in “street name”) will be reinvested by the broker or nominee in additional shares under the Plan, unless the service is not provided by the broker or nominee or the shareholder elects to receive distributions in cash. Investors who own shares of common stock registered in street name should consult their broker-dealers for details regarding reinvestment. All distributions to investors who do not participate in the Plan will be paid by check mailed directly to the record holder by Computershare as dividend-disbursing agent.

Enrollment in the Plan

It is the policy of Gabelli Go Anywhere Trust (the “Fund”) to automatically reinvest dividends payable to common shareholders. As a “registered” shareholder you automatically become a participant in the Fund’s Automatic Dividend Reinvestment Plan (the “Plan”). The Plan authorizes the Fund to credit common shares to participants upon an income dividend or a capital gains distribution regardless of whether the shares are trading at a discount or a premium to net asset value. All distributions to shareholders whose shares are registered in their own names will be automatically reinvested pursuant to the Plan in additional shares of the Fund. Plan participants may send their common shares certificates to Computershare Trust Company, N.A. (“Computershare”) to be held in their dividend reinvestment account. Registered shareholders wishing to receive their distributions in cash may submit this request through the Internet, by telephone or in writing to:

Gabelli Go Anywhere Trust

c/o Computershare

P.O. Box 505000

Louisville, KY 40233-5000

Telephone: (800) 336-6983

Website: www.computershare.com/investor

Shareholders requesting this cash election must include the shareholder’s name and address as they appear on the Fund’s records. Shareholders with additional questions regarding the Plan or requesting a copy of the terms of the Plan, may contact Computershare at the website or telephone number above.

If your shares are held in the name of a broker, bank, or nominee, you should contact such institution. If such institution is not participating in the Plan, your account will be credited with a cash dividend. In order to participate in the Plan through such institution, it may be necessary for you to have your shares taken out of “street name” and re-registered in your own name. Once registered in your own name your distributions will be automatically reinvested. Certain brokers participate in the Plan. Shareholders holding shares in “street name” at participating institutions will have dividends automatically reinvested. Shareholders wishing a cash dividend at such institution must contact their broker to make this change.

The number of shares of common shares distributed to participants in the Plan in lieu of cash dividends is determined in the following manner. Under the Plan, whenever the market price of the Fund’s common shares is equal to or exceeds net asset value at the time shares are valued for purposes of determining the number of shares equivalent to the cash dividends or capital gains distribution, participants are issued shares of common shares valued at the greater of (i) the net asset value as most recently determined or (ii) 95% of the then current market price of the Fund’s common shares The valuation date is the dividend or distribution payment date or, if that date is not a New York Stock Exchange (“NYSE”) trading day, the next trading day. If the net asset value of the common shares at the time of valuation exceeds the market price of the common shares, participants will receive shares from the Fund valued at market price. If the Fund should declare a dividend or capital gains distribution payable only in cash, Computershare will buy shares of common shares in the open market, or on the NYSE or elsewhere, for the participants’ accounts, except that Computershare will endeavor to terminate purchases in the open market and cause the Fund to issue shares at net asset value if, following the commencement of such purchases, the market value of the common shares exceeds the then current net asset value.

The automatic reinvestment of dividends and capital gains distributions will not relieve participants of any income tax which may be payable on such distributions. A participant in the Plan will be treated for federal income tax purposes as having received, on a dividend payment date, a dividend or distribution in an amount equal to the cash the participant could have received instead of shares.

AUTOMATIC DIVIDEND REINVESTMENT

AND VOLUNTARY CASH PURCHASE PLANS

(Continued)

Voluntary Cash Purchase Plan

The Voluntary Cash Purchase Plan is yet another vehicle for our shareholders to increase their investment in the Fund. In order to participate in the Voluntary Cash Purchase Plan, shareholders must have their shares registered in their own name.

Participants in the Voluntary Cash Purchase Plan have the option of making additional cash payments to Computershare for investments in the Fund’s shares at the then current market price. shareholders may send an amount from $250 to $10,000. Computershare will use these funds to purchase shares in the open market on or about the 1st and 15th of each month. Computershare will charge each shareholder who participates $0.75, plus a per share fee (currently $0.02 per share). Per share fees include any applicable brokerage commissions Computershare is required to pay and fees for such purchases are expected to be less than the usual fees for such transactions. It is suggested that any voluntary cash payments be sent to Computershare, P.O. Box 6006, Carol Stream, IL 60197-6006 such that Computershare receives such payments approximately two business days before the 1st and 15th of the month. Funds not received at least two business days before the investment date shall be held for investment until the next purchase date. A payment may be withdrawn without charge if notice is received by Computershare at least two business days before such payment is to be invested.

Shareholders wishing to liquidate shares held at Computershare may do so through the Internet, in writing or by telephone to the above-mentioned website, address or telephone number. Include in your request your name, address, and account number. Computershare will sell such shares through a broker-dealer selected by Computershare within 5 business days of receipt of the request. The sale price will equal the weighted average price of all shares sold through the Plan on the day of the sale, less applicable fees. Participants should note that Computershare is unable to accept instructions to sell on a specific date or at a specific price. The cost to liquidate shares is $2.50 per transaction as well as the per share fee (currently $0.10 per share) Per share fees include any applicable brokerage commissions Computershare is required to pay and are expected to be less than the usual fees for such transactions.

More information regarding the Automatic Dividend Reinvestment Plan and Voluntary Cash Purchase Plan is available by calling (914) 921-5070 or by writing directly to the Fund.

The Fund reserves the right to amend or terminate the Plan as applied to any voluntary cash payments made and any dividend or distribution paid subsequent to written notice of the change sent to the members of the Plan at least 30 days before the record date for such dividend or distribution. The Plan also may be amended or terminated by Computershare on at least 30 days written notice to participants in the Plan.

THE GABELLI GO ANYWHERE TRUST

AND YOUR PERSONAL PRIVACY

Who are we?

The Gabelli Go Anywhere Trust is a closed-end management investment company registered with the Securities and Exchange Commission under the Investment Company Act of 1940. We are managed by Gabelli Funds, LLC, which is affiliated with GAMCO Investors, Inc., a publicly held company that has subsidiaries that provide investment advisory services for a variety of clients.

What kind of non-public information do we collect about you if you become a fund shareholder?

When you purchase shares of the Fund on the New York Stock Exchange, you have the option of registering directly with our transfer agent in order, for example, to participate in our dividend reinvestment plan.

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Information you give us on your application form. This could include your name, address, telephone number, social security number, bank account number, and other information.

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Information about your transactions with us. This would include information about the shares

SEC Form N-CSRS filed by The Gabelli Go Anywhere Trust