Mario Gabelli (Trades, Portfolio) of GAMCO Investors currently owns 880 stocks in his portfolio, valued at $18.58 billion. According to GuruFocus Real Time Picks, the number of new stocks is 47 and the quarter-over-quarter turnover is 6%.
Gabelli's top three sectors are consumer cyclical, which make up 23.9% of his portfolio, industrials, which makes up 21.9% of his portfolio and financial services, which makes up 9% of his portfolio.
The most heavily weighted stocks in his portfolio include: DirecTV (DTV, Financial), National Fuel Gas Co (NFG, Financial), American Express Co (AXP, Financial) and Legg Mason Inc (LM, Financial).
Gabelli currently holds 3,918,667 shares of DTV, valued at $339.0 million and is his largest holding, representing 1.8% of his overall portfolio. DTV is part of the communication services industry.
Within the past five years, Gabelli bought 110,402 shares at an average price of $51.93/share, resulting in a 64% gain. 4,306,183 shares were sold at an average price of $49.03/share, resulting in a 74% gain. Gabelli now owns 3,918,667 shares valued at $339 million.
DirecTV was incorporated in 2009 as a provider of digital television entertainment in the U.S. and Latin America. The company recently agreed to allow Dallas-based AT&T (T, Financial) to buy it for $48.5 billion.
DTV's current price is $85.20
"...Atop a superior operating business, DTV has layered a capital structure that maximizes equity returns. The company has used modest leverage to repurchase stock, in the process cutting its shares outstanding by more than half over the last five years. Long of interest to its telecom distribution partners, AT&T agreed to acquire the company in April 2014 for $95 per share in cash and stock," Gabelli said in the Gabelli Asset Fund Second Quarter 2014 Shareholder Commentary.
National Fuel Gas Co, a company that is part of the oil and gas - E&P industry, is Gabelli's second largest holding, owning3,878,052 shares valued at $271.4 million. The position makes up 1.5% of his overall portfolio.
Over the past five years, Gabelli purchased 1,975,413 shares of NFG at an average price of $54.85/share, which resulted in a 25% gain. He sold 27,106 shares at an average price of $56.21/share.
NFG was incorporated in 1902 as a diversified energy company with five segments, including: the utility segment, the pipeline and storage segment, the exploration and production segment, the energy marketing segment and the gathering segment.
Gabelli has said before that he thinks this stock should be trading at $100/ share and has told the company he plans to help it reach that mark. He also suggested to have the utility business split off and would like to open up the opportunity to allow shareholders to vote on it.
NFG is currently $68.31/share.
American Express is the guru's third largest holding and the position is 1.5% of his overall portfolio. Gabelli owns 3,271,440 shares valued at $286.4 million.
Over the past five years, Gabelli has purchased 351,560 shares of AXP at an average price of $47.19/share, which had a 78% gain overall. 1,112,049 shares were sold at an average price of $62.71/share, which resulted in a 34% gain.
American Express was founded in 1850 and was incorporated in 1965 as a New York corporation. The company provides customers with access to products and insight to help enhance their businesses.
The stock is currently $84.13/share.
"Longer term, American Express should capitalize on its higher spending customer base and continue to expand into other payment related businesses like corporate purchasing, while also growing in emerging markets. Similarly, the company is looking at the growing success of social media as an opportunity to expand its product base and payment options," Gabelli has said about AXP in his Shareholder Commentary of the First Quarter of 2014.
Legg Mason Inc, which is part of the asset management industry, is Gabelli's fourth largest holding, with 4,969,983 shares valued at $254.3 million. The position makes up 1.4% of his overall portfolio.
Over the past five years, Gabelli has purchased 2,394,089 shares at an average price of $28.18/share, resulting in a 95% gain. He sold 1,312,507 shares at an average price of $34.36/share, which resulted in a 60% gain.
Legg Mason was incorporated in 1981 as an asset management company that provides investment management and related services to institutional and individual clients, company-sponsored mutual funds and other investment services. The stock's current price is $54.87/share.
"The company has been turning around investment performance while improving operating fundamentals. Using free cash flow, the company continues to retire shares under its $1 billion+ authorization," from the Gabelli Equity Income Fund Secondary Quarter 2014 Shareholder Commentary on the company.
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