Insights into Gabelli's Latest 13F Filings and Investment Shifts
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, Private Market Value with a Catalyst™, focuses on identifying undervalued stocks that have a potential catalyst for value appreciation. Gabelli’s recent 13F filing for the third quarter of 2024 reveals significant portfolio adjustments, reflecting his strategic investment decisions.
Summary of New Buys
Mario Gabelli (Trades, Portfolio)'s portfolio welcomed a total of 46 new stocks in this quarter. Noteworthy additions include:
- Innovex International Inc (INVX, Financial), with 2,316,465 shares, making up 0.35% of the portfolio and valued at $34.01 million.
- Chuy’s Holdings Inc (CHUY, Financial), comprising 184,354 shares, which represent about 0.07% of the portfolio, totaling $6.89 million.
- Centuri Holdings Inc (CTRI, Financial), with 157,800 shares, accounting for 0.03% of the portfolio and valued at $2.55 million.
Key Position Increases
Significant enhancements were made to existing holdings, including:
- Standard Motor Products Inc (SMP, Financial), with an additional 361,460 shares, bringing the total to 685,260 shares. This adjustment represents a 111.63% increase in share count, impacting 0.12% of the current portfolio, valued at $22.75 million.
- Vanguard Real Estate Index Fund ETF (VNQ, Financial), with an additional 114,700 shares, bringing the total to 117,700. This adjustment represents a 3823.33% increase in share count, valued at $11.47 million.
Summary of Sold Out Positions
Mario Gabelli (Trades, Portfolio) completely exited 52 holdings in the third quarter of 2024, including:
- Dril-Quip Inc (DRQ, Financial), where all 2,222,716 shares were sold, impacting the portfolio by -0.45%.
- Silk Road Medical Inc (SILK, Financial), with all 254,750 shares liquidated, causing a -0.07% impact on the portfolio.
Key Position Reductions
Adjustments were also made by reducing positions in several stocks, notably:
- Mueller Industries Inc (MLI, Financial) was reduced by 280,658 shares, resulting in an 8.44% decrease in shares and a -0.17% impact on the portfolio. The stock traded at an average price of $66.99 during the quarter and has returned 36.36% over the past 3 months and 96.44% year-to-date.
- NVIDIA Corp (NVDA, Financial) was reduced by 121,942 shares, resulting in a 26.88% reduction in shares and a -0.16% impact on the portfolio. The stock traded at an average price of $118.12 during the quarter and has returned 23.85% over the past 3 months and 195.35% year-to-date.
Portfolio Overview
As of the third quarter of 2024, Mario Gabelli (Trades, Portfolio)'s portfolio included 841 stocks. The top holdings were 2.33% in Herc Holdings Inc (HRI, Financial), 2.31% in Mueller Industries Inc (MLI), 1.99% in Crane Co (CR, Financial), 1.85% in GATX Corp (GATX, Financial), and 1.74% in Modine Manufacturing Co (MOD, Financial). The holdings are predominantly concentrated across all 11 industries, including Industrials, Consumer Cyclical, and Technology, among others.
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.
