Mario Gabelli’s Gabelli Funds Q2 2024 Portfolio Update: OTCMKTS:GAMI Analysis
Mario Gabelli’s Gabelli Funds recently filed their 13F Form on 08/13/2024, providing insights into their portfolio changes for the second quarter of 2024. With assets under management (AUM) around $35B, Gabelli Funds’ 13F portfolio is diversified, consisting of over 1100 positions. In this analysis, we will focus on the top holdings and notable changes within the portfolio during Q2 2024.
Portfolio Overview
Gabelli Funds’ 13F portfolio value decreased by approximately 3% from $13.57B to $13.17B in the second quarter of 2024. The top five holdings, which account for around 8% of the 13F assets, include Microsoft, Nvidia, Alphabet, and Lennar.
Stake Increases
Nvidia Corp (NVDA) is a significant position in the portfolio, first purchased in Q3 2017 at a low-single-digit price range. The stock currently trades at around $123, with incremental buying in recent quarters. National Fuel Gas (NFG), another notable stake, saw a minor 4% increase in the last quarter. Amazon.com (AMZN), a long-term holding, experienced marginal increases in the most recent quarter.
Other positions such as CNH Industrial (CNH), Exxon Mobil (XOM), Madison Square Garden Sports (MSGS), and KKR & Co. (KKR) were also increased during the quarter, although they represent less than 1% of the portfolio each.
Stake Decreases
On the other hand, several holdings saw reductions in their stakes during Q2 2024. Microsoft Corp. (MSFT), a long-term stake, experienced minor trimming in the last five quarters. Alphabet Inc. (GOOG) saw a 15% reduction in the last quarter, while Mastercard Inc. (MA) and American Express (AXP) witnessed ongoing selling activities to harvest gains.
NextEra Energy (NEE) and GATX Corp. (GATX) also saw minor trimming, reflecting Gabelli Funds’ strategy to continuously adjust their portfolio holdings. Genuine Parts Company (GPC), Newmont Corporation (NEM), and Crane Holdings Company (CR) had their stakes reduced during the quarter as well.
Other positions that experienced decreases include Sony Group (SONY), Apple Inc. (AAPL), Diageo plc (DEO), Honeywell International (HON), and several others, each representing less than 1.5% of the portfolio.
Notable Holdings
Gabelli Funds’ portfolio includes a diverse range of holdings, with each position carefully managed to optimize returns. Microsoft, Nvidia, Alphabet, and Lennar are among the top holdings in the fund, reflecting a strategic investment approach.
Conclusion
As Mario Gabelli’s Gabelli Funds navigate the changing market landscape, their portfolio adjustments in Q2 2024 demonstrate a focus on optimizing returns and managing risk. By strategically increasing stakes in certain positions and trimming others to harvest gains, Gabelli Funds continue to position themselves for long-term success in the ever-evolving investment landscape.