An Insightful Look into Gabelli's Latest Investment Decisions
Mario J. Gabelli, a distinguished figure in the investment world, is the Chairman and CEO of GAMCO Investors Inc., a firm he established in 1977. A graduate of Fordham University and Columbia University Graduate School of Business, Gabelli has earned accolades such as Morningstar's Portfolio Manager of the Year in 1997 and Money Manager of the Year by Institutional Investor in 2011. His investment philosophy focuses on identifying undervalued companies that have a catalyst for growth, using a fundamental, bottom-up research approach.
Summary of New Buys
Mario Gabelli (Trades, Portfolio) added a total of 48 stocks to his portfolio in the first quarter of 2024. Noteworthy new additions include:
- Applied Materials Inc (AMAT, Financial), purchasing 26,645 shares, which now represent 0.06% of the portfolio, valued at approximately $5.5 million.
- Juniper Networks Inc (JNPR, Financial), with 133,432 shares, making up about 0.05% of the portfolio, valued at nearly $4.95 million.
- Stryker Corp (SYK, Financial), acquiring 14,067 shares, accounting for 0.05% of the portfolio, with a total value of around $5.03 million.
Key Position Increases
Mario Gabelli (Trades, Portfolio) also increased his stakes in 214 stocks during this period. Significant increases include:
- Grupo Televisa SAB (TV, Financial), with an additional 2,984,705 shares, bringing the total to 14,618,608 shares. This adjustment represents a 25.66% increase in share count, impacting the current portfolio by 0.1%, with a total value of approximately $46.78 million.
- Pfizer Inc (PFE, Financial), adding 295,139 shares, bringing the total to 533,251 shares. This represents a 123.95% increase in share count, valued at about $14.8 million.
Summary of Sold Out Positions
In the first quarter of 2024, Mario Gabelli (Trades, Portfolio) completely exited 37 holdings, including:
- Treehouse Foods Inc (THS, Financial), where he sold all 199,712 shares, impacting the portfolio by -0.09%.
- Sovos Brands Inc (SOVO, Financial), liquidating all 370,895 shares, also resulting in a -0.09% portfolio impact.
Key Position Reductions
Significant reductions were made in 363 stocks. Notable reductions include:
- Modine Manufacturing Co (MOD, Financial), reducing holdings by 519,468 shares, a -23.41% decrease, impacting the portfolio by -0.33%. The stock traded at an average price of $77.32 during the quarter and has seen a return of 34.35% over the past three months and 81.47% year-to-date.
- Griffon Corp (GFF, Financial), with a reduction of 418,961 shares, a -33.63% decrease, impacting the portfolio by -0.27%. The stock traded at an average price of $65.29 during the quarter and has returned 2.76% over the past three months and 16.17% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Mario Gabelli (Trades, Portfolio)'s portfolio included 836 stocks. The top holdings were:
- 2.65% in Herc Holdings Inc (HRI, Financial)
- 1.99% in Mueller Industries Inc (MLI, Financial)
- 1.93% in GATX Corp (GATX, Financial)
- 1.75% in Crane Co (CR, Financial)
- 1.64% in Modine Manufacturing Co (MOD, Financial)
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
