Mario Gabelli (Trades, Portfolio)’s GAMCO Investors manages $37.5 billion and uses an equity research approach. Gabelli has described himself as “Warren Buffett (Trades, Portfolio) plus Ben Graham.” His Value 25 Fund has returned 10.2% annualized since its inception.
His sprawling portfolio lists 814 positions and is valued at $15.12 billion. Most of his positions are in Consumer Cyclical stocks (24%) and Industrials (23%).
In his second quarter commentary, Gabelli said: “In the face of global uncertainty, we remain focused on bottom-up fundamental stock picking. That is not to say stock selection takes place in a vacuum. Rather we gather and array macro observations that we use to inform our micro analysis of discrete businesses… We tend to gravitate toward firms with sustainable competitive moats and predictable and/or recurring cash flows. In each case however, we seek an appropriate discount to Private Market Value and Catalyst before purchase.”
In the second quarter, he purchased 52 new stocks. His largest new buys were: LinkedIn Corp. (LNKD, Financial), Liberty Media Corp. (LSXMK, Financial), Liberty Media Corp. (LSXMA, Financial), Dreamworks Animation SKG Inc. (DWA, Financial) and Demandware Inc. (DWRE, Financial).
LinkedIn Corp. (LNKD, Financial)
Gabelli purchased 221,925 shares of LinkedIn Corp., a 0.28% portfolio weight. The company’s second-quarter share price averaged $139.
LinkedIn Corp. has a market cap of $25.84 billion; its shares were traded around $191.8 with and P/S ratio of 7.36. LinkedIn Corp. had an annual average earnings growth of 39.4% over the past five years.
Liberty Media Corp. (LSXMK, Financial)
Gabelli purchased 1,284,493 shares of Liberty Media Corp., a 0.26% portfolio weight. The company’s second-quarter share price averaged $31.
Liberty Media Corp. has a market cap of $2.8 billion; its shares were traded around $33.39 with a P/E ratio of 23.36 and P/S ratio of 2.11.
Liberty Media Corp. (LSXMA, Financial)
Gabelli purchased 750,764 share of Liberty Media Corp., a 0.16% portfolio weight. The company’s second-quarter share price averaged $32.
Liberty Media Corp. has a market cap of $2.85 billion; its shares were traded around $34.09 with a P/E ratio of 23.44 and P/S ratio of 2.16.
Dreamworks Animation SKG Inc. (DWA, Financial)
Gabelli purchased 569,119 shares of Dreamworks Animation SKG, a 0.15% portfolio weight. The company’s second-quarter share price averaged $38.
Dreamworks Animation SKG Inc. has a market cap of $3.55 billion; its shares were traded around $40.94 with a P/E ratio of 63.93 and P/S ratio of 3.60.
Demandware Inc. (DWRE, Financial)
Gabelli purchased 309,305 shares of Demandware Inc., a 0.15% portfolio weight. The company’s second-quarter share price averaged $54.
Demandware Inc. has a market cap of $2.85 billion; its shares were traded around $74.97 with and P/S ratio of 10.61.
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