GABELLI FUNDS LLC recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Gabelli Funds LLC is a private investment management company that was founded in 1980. Its parent company, GAMCO Investors, which it still acts as a subsidiary under, was founded in 1976 by Mario Gabelli (Trades, Portfolio). The company would have its first institutional mandate in 1978 and become the top asset manager of CDA investment technologies in 1982. The company would grow and enter the mutual fund business in 1986, continuing to expand and launching its growth fund in 1987 and value fund in 1989. In the 1990s, the company would begin focusing on international growth and launch its global series in 1994. In 1997, the Gabelli mutual fund series would be ranked as the top mutual fund family by Mutual Funds Magazine. The parent company would have its IPO in 199, allowing the company to increase its capital and facilitate its growth to be able to open its London office in 2001. Gabelli Funds currently has over $26.7 billion in total assets under management that is spread across 31 accounts held, averaging to over $860 million each. Although its total number of accounts held has remained relatively steady within the past five years, its total assets under management has increased from $11.4 billion in 2010 to over twice that at its current amount. The company currently has 49 employees with its headquarters in Rye, New York, although it also has offices in Bannockburn, Illinois; Minneapolis, Minnesota; and Yardley, Pennsylvania. Almost all of its clients are investment companies and Gabelli Funds provides equity, fixed income, balanced mutual fund, and money market management services. Most of its assets are allocated in the services sector, which alone makes up over a quarter of its allocated assets, and it also invests in the utilities, financial, basic materials, technology, and health care sectors, among others, in order of amount allocated. Some of the available mutual funds include the ABC Fund, Capital Asset Fund, Focus Five Fund, SRI Fund, Value 25 Fund, and GI Rising Inc & Div.
As of the latest 13F report, the guru’s equity portfolio contained 1279 stocks valued at a total of $11.91Bil. The top holdings were NEE(2.00%), MSFT(1.37%), and NFG(1.25%).
According to GuruFocus data, these were GABELLI FUNDS LLC’s top five trades of the quarter.
Alleghany Corp
During the quarter, GABELLI FUNDS LLC bought 42,440 shares of NYSE:Y for a total holding of 82,434. The trade had a 0.3% impact on the equity portfolio. During the quarter, the stock traded for an average price of $838.84.
On 11/11/2022, Alleghany Corp traded for a price of $847.79 per share and a market cap of $11.41Bil. The stock has returned 27.62% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.
In terms of valuation, Alleghany Corp has a price-earnings ratio of 33.43, a price-book ratio of 1.44, a price-earnings-to-growth (PEG) ratio of 1.49, a EV-to-Ebitda ratio of 13.62 and a price-sales ratio of 0.99.
The price-to-GF Value ratio is 0.96, earning the stock a GF Value rank of 5.
American Tower Corp
During the quarter, GABELLI FUNDS LLC bought 151,217 shares of NYSE:AMT for a total holding of 183,365. The trade had a 0.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $256.93.
On 11/11/2022, American Tower Corp traded for a price of $220.9 per share and a market cap of $102.85Bil. The stock has returned -17.87% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, American Tower Corp has a price-earnings ratio of 35.06, a price-book ratio of 16.38, a price-earnings-to-growth (PEG) ratio of 3.65, a EV-to-Ebitda ratio of 19.15 and a price-sales ratio of 9.74.
The price-to-GF Value ratio is 0.73, earning the stock a GF Value rank of 10.
Meritor Inc
The guru sold out of their 917,892-share investment in NYSE:MTOR. Previously, the stock had a 0.26% weight in the equity portfolio. Shares traded for an average price of $36.35 during the quarter.
On 11/11/2022, Meritor Inc traded for a price of $36.5 per share and a market cap of $2.59Bil. The stock has returned 53.23% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Meritor Inc has a price-earnings ratio of 11.89, a price-book ratio of 3.81, a price-earnings-to-growth (PEG) ratio of 1.32, a EV-to-Ebitda ratio of 8.70 and a price-sales ratio of 0.64.
The price-to-GF Value ratio is 1.27, earning the stock a GF Value rank of 3.
Global Blood Therapeutics Inc
During the quarter, GABELLI FUNDS LLC bought 413,178 shares of NAS:GBT for a total holding of 432,378. The trade had a 0.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $55.15.
On 11/11/2022, Global Blood Therapeutics Inc traded for a price of $68.49 per share and a market cap of $4.62Bil. The stock has returned 165.36% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Global Blood Therapeutics Inc has a price-book ratio of 38.94, a EV-to-Ebitda ratio of -16.54 and a price-sales ratio of 18.82.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 6.
Zendesk Inc
During the quarter, GABELLI FUNDS LLC bought 369,907 shares of NYSE:ZEN for a total holding of 608,807. The trade had a 0.24% impact on the equity portfolio. During the quarter, the stock traded for an average price of $75.89.
On 11/11/2022, Zendesk Inc traded for a price of $76.7 per share and a market cap of $9.53Bil. The stock has returned -23.79% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.
In terms of valuation, Zendesk Inc has a price-book ratio of 27.39, a EV-to-Ebitda ratio of -44.82 and a price-sales ratio of 5.89.
The price-to-GF Value ratio is 0.52, earning the stock a GF Value rank of 8.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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