Billionaire Mario Gabelli’s Top 15 Stock Picks

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11. The Bank of New York Mellon Corporation (NYSE:BK)

Number of Hedge Fund Holders: 45  

GAMCO Investors’ Stake: $112.7 million    

The Bank of New York Mellon Corporation (NYSE:BK) provides financial products and services. This company is an excellent investment option for the following reasons. Firstly, the report for the fourth quarter of 2024 reflects the company’s strong financial performance, characterized by record revenue and net income and significant profitability expansion. For instance, BNY delivered a record net income of $4.3 billion on record revenue of $18.6 billion and generated a return on tangible common equity of 23% for the year. Significant positive operating leverage resulted in pre-tax margin and profitability expansion, and the company returned $4.4 billion of capital to common shareholders. Secondly, BNY Mellon’s collaboration with Accenture aims to modernize financial services offerings with an initial focus on data management and analytics product development and delivery.

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