Insights from the Latest 13F Filing Highlight Significant Portfolio Adjustments
Mario Gabelli (Trades, Portfolio), the esteemed Chairman and CEO of GAMCO Investors Inc., has recently disclosed his investment activities for the second quarter of 2024 through the latest 13F filing. A distinguished figure in the investment world, Gabelli founded GAMCO in 1977 and has since been recognized for his deep value investment strategy and the concept of Private Market Value with a Catalyst™. His investment decisions are keenly watched by the market for insights into potential value plays.
Summary of New Buys
Mario Gabelli (Trades, Portfolio) expanded his portfolio by adding 49 new stocks in this quarter. Noteworthy new positions include:
- Silk Road Medical Inc (SILK, Financial), purchasing 254,750 shares valued at $6.88 million, making up 0.07% of the portfolio.
- Moody's Corporation (MCO, Financial), with 11,382 shares worth approximately $4.79 million, representing 0.05% of the portfolio.
- Encore Wire Corp (WIRE, Financial), acquiring 9,750 shares valued at $2.83 million, accounting for 0.03% of the portfolio.
Key Position Increases
The quarter also saw Gabelli increase his stakes in 227 stocks, with significant boosts in:
- APA Corp (APA, Financial), adding 513,654 shares, bringing the total to 550,654 shares, marking a 1,388.25% increase and impacting the portfolio by 0.17%, valued at $16.21 million.
- Ducommun Inc (DCO, Financial), with an additional 193,001 shares, resulting in a total of 574,767 shares and a 50.55% increase, valued at $33.37 million.
Summary of Sold Out Positions
In a notable portfolio adjustment, Mario Gabelli (Trades, Portfolio) exited several positions, including:
- Kaman Corp (KAMN, Financial), selling all 2,351,287 shares, which had a -1.09% impact on the portfolio.
- Callon Petroleum Co (CPE, Financial), liquidating 525,820 shares, impacting the portfolio by -0.19%.
Key Position Reductions
Reductions were also prominent in Gabelli's strategy, with major cuts in:
- Modine Manufacturing Co (MOD, Financial), reducing holdings by 312,852 shares, a -18.4% decrease, impacting the portfolio by -0.3%. The stock traded at an average price of $96.01 during the quarter.
- Mueller Industries Inc (MLI, Financial), cutting down by 317,648 shares, a -8.72% reduction, with a -0.17% portfolio impact. The stock's average trading price was $56.03 during the quarter.
Portfolio Overview
As of the second quarter of 2024, Mario Gabelli (Trades, Portfolio)'s portfolio encompasses 846 stocks. Top holdings include 2.16% in Herc Holdings Inc (HRI, Financial), 2.06% in Mueller Industries Inc (MLI), and 2% in GATX Corp (GATX, Financial). The portfolio is diversified across all 11 industries, with significant concentrations in Industrials and Consumer Cyclical sectors.
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.
