Mario Gabelli, CEO and chief investment officer of Gamco Investors Inc. (NYSE:GBL), owns approximately 1.2 million shares, or 34.04 percent, out of the 3.5 million estimated outstanding shares of Sevcon Inc (NASDAQ:SEV), a UK based manufacturer of high-quality motor controllers and system components.
Based on Gabelli’s schedule 13D filing with the Securities and Exchange Commission (SEC), the total market value of the stocks bought by his subsidiary companies, including GAMCO Asset Management Inc., Gabelli Funds LLC., Gabelli Securities Inc., and Teton Advisors was $471,601.
GAMCO Asset Management Inc. invested $184, 389 to buy 543,040 shares, or 15.58 percent; Gabelli Funds purchased 254,833 shares, or 7.31 percent, with $30,051 market value; Gabelli Securities, Inc. spent $38,806 to buy 8,000 shares, or 0.23 percent, and Teton Advisors acquired 10.92 percent, or 380,535 shares worth $218.355.
During the previous weeks this August, Gabelli increased his stakes in FSI International, Inc. (NASDAQ:FSII), a global supplier of surface conditioning equipment and technology. He bought more than 2.1 million shares in the company , which are worth $12.8 million. The shares were distributed to the same subsidiary companies above.
Gabelli, through his subsidiary companies, also purchased more than 1.4 million shares of Steel Excel Inc (PINK:SXCL), a company engaged in capital redeployment and identification of new business operations, such as education, entertainment, sports, training, oilfield servicing, and lifestyle businesses, with an almost $2 million market value.
GAMCO’s top holdings include Goodrich Corporation (NYSE:GR), with more than 2 million shares worth $261.9 million and Direct TV (Nasdaq:DTV), with approximately 5.3 million shares worth $260.8 million. Both stocks account for 2 percent of the Gabelli’s portfolio.
During a previous interview with CNBC, Gabelli said his top stock picks include The Boeing Company (NYSE:BA), Campbell Soup Company (NYSE:CPB), and Whole Foods Market, Inc. (NASDAQ:WFM). He considered several factors, such as aging of the population and infrastructures, together with the index of leading economic indicators in determining his top picks.
He also shared his opinion regarding Peter Thiel’s selling of the majority of his stake in Facebook Inc (NASDAQ:FB) immediately after the expiration of the lock-up period. Gabelli thinks there is nothing wrong with Thiel’s decision, since he still owns $200 million worth of shares in the social networking giant. In addition, Gabelli said it is not recommended for investors like him, who engage in trading and own large stakes in a public company, to sit in the board of directors, because of transparency issues. Gabelli pointed out he is not defending Thiel’s action.