A recent 13D filing with the Securities and Exchange Commission revealed that billionaire Mario Gabelli‘s GAMCO Investors and its affiliates own in aggregate 3.76 million shares of Cst Brands Inc. (NYSE:CST), which account for 5.0% of the company’s outstanding stock. Out of the aggregate amount, GAMCO solely owns 2.04 million shares, which amass 2.70% of the float. This represents a slight increase to GAMCO’s stake, as it disclosed holding just under 2.00 million shares in its latest 13F filing for the end of March, while Gabelli Funds reported holding 1.65 million shares.
Cst Brands (NYSE:CST) is a holding company that sells motor fuel, food, and convenience merchandise. Over the past 12 months, the company’s shares have gained 13.08%. For the first quarter of 2016, Cst Brands (NYSE:CST) reported earnings per share of $0.27 and revenue of $2.03 billion, versus estimates of $0.22 and $2.30 billion, respectively. Recently, the company announced that it has signed an agreement for selling its California and Wyoming-based stores and its subsidiary, SEI Fuel Services, Inc, to 7-Eleven, at a price of $408 million.
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The number of hedge funds in our database long Cst Brands (NYSE:CST) increased by five in the first quarter; at the end of March, the company was in 28 hedge funds’ portfolios. David Cohen and Harold Levy’s Iridian Asset Management held the most valuable position, worth around $287.9 million, while the second-largest position was reported by Alan Fournier’s Pennant Capital Management, worth around $115.2 million. Other investors with long positions in the stock were D E Shaw, founded by David E. Shaw, Paul Marshall and Ian Wace’s Marshall Wace LLP, and Jim Simons’ Renaissance Technologies.
Among investors who initiated new positions in Cst Brands (NYSE:CST) during the quarter were Andrew Goldman’s Seven Locks Capital Management and Isaac Corre’s Governors Lane, which invested $16.2 million and $15.7 million, respectively. Other investors with similar fresh bullishness on this stock during the quarter were Curtis Schenker and Craig Effron’s Scoggin, Jamie Zimmerman’s Litespeed Management, and Steve Cohen’s Point72 Asset Management.
You can access the original SEC filing by clicking here.
Ownership Summary Table
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Gabelli Funds | 1,567,500 | 1,567,500 | 1,567,500 | 2.07% | ||
GAMCO Asset Management Inc. I.D. No. 13-40445 | 1,947,388 | 2,040,588 | 2,040,588 | 2.7% | ||
Gabelli Securities, Inc. I.D. No. 13-3379374 | 68,970 | 68,970 | 68,970 | 0.09% | ||
Gabelli Foundation, Inc. I.D. No. 94 | 15,000 | 15,000 | 15,000 | 0.02% | ||
GGCP, Inc. I.D. No. 13-3056041 | 0.00% | |||||
GAMCO Investors, Inc. I.D. No. 13-400786 | 2,075 | 2,075 | 2,075 | 0.00% | ||
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | 0.00% | |||||
Mario J. Gabelli | 65,709 | 65,709 | 65,709 | 0.09% |
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Page 1 of 18 – SEC Filing
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Page 2 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) Gabelli Funds, LLC I.D. No. 13-4044523 | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) 00-Funds of investment advisory clients | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization New York | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 1,567,500 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 1,567,500 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 1,567,500 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) | ||
13 | Percent of class represented by amount in row (11) 2.07% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) IA, CO |
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Page 3 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) GAMCO Asset Management Inc. I.D. No. 13-4044521 | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) 00-Funds of investment advisory clients | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization New York | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 1,947,388 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 2,040,588 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 2,040,588 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) | ||
13 | Percent of class represented by amount in row (11) 2.7% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) IA, CO |
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Page 4 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) Gabelli Securities, Inc. I.D. No. 13-3379374 | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) 00 – Client funds | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization Delaware | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 68,970 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 68,970 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 68,970 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) | ||
13 | Percent of class represented by amount in row (11) 0.09% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) HC, CO, IA |
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Page 5 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) Gabelli Foundation, Inc. I.D. No. 94-2975159 | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) WC | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization NV | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 15,000 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 15,000 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 15,000 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) | ||
13 | Percent of class represented by amount in row (11) 0.02% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) 00-Private Foundation |
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Page 6 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) GGCP, Inc. I.D. No. 13-3056041 | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) None | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization Wyoming | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power None (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power None (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person None (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) X | ||
13 | Percent of class represented by amount in row (11) 0.00% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) HC, CO |
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Page 7 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) GAMCO Investors, Inc. I.D. No. 13-4007862 | ||
Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | |||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) WC | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization Delaware | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 2,075 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 2,075 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 2,075 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) X | ||
13 | Percent of class represented by amount in row (11) 0.00% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) HC, CO |
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Page 8 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) Associated Capital Group, Inc. I.D. No. 47-3965991 | ||
Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | |||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) None | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization Delaware | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power None (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power None (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person None (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) X | ||
13 | Percent of class represented by amount in row (11) 0.00% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) HC, CO |
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Page 9 of 18 – SEC Filing
1 | Names of reporting persons I.R.S. identification nos. of above persons (entities only) Mario J. Gabelli | ||
2 | Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | ||
3 | Sec use only | ||
4 | Source of funds (SEE INSTRUCTIONS) Private Funds | ||
5 | Check box if disclosure of legal proceedings is required pursuant to items 2 (d) or 2 (e) | ||
6 | Citizenship or place of organization USA | ||
Number Of Shares Beneficially Owned By Each Reporting Person With | : 7 : : : | Sole voting power 65,709 (Item 5) | |
: 8 : : : | Shared voting power None | ||
: 9 : : : | Sole dispositive power 65,709 (Item 5) | ||
:10 : : : | Shared dispositive power None | ||
11 | Aggregate amount beneficially owned by each reporting person 65,709 (Item 5) | ||
12 | Check box if the aggregate amount in row (11) excludes certain shares (SEE INSTRUCTIONS) X | ||
13 | Percent of class represented by amount in row (11) 0.09% | ||
14 | Type of reporting person (SEE INSTRUCTIONS) IN |
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Page 10 of 18 – SEC Filing
Name | Shares of Common Stock | % of Class of Common |
GAMCO Gabelli Funds GSI MJG GBL Foundation | 2,040,588 1,567,500 68,970 65,709 2,075 15,000 | 2.70% 2.07% 0.09% 0.09% 0.00% 0.02% |
Exhibit A: | Joint Filing Agreement |
Exhibit B: | Powers of Attorney to David M. Goldman and Douglas R. Jamieson from Mario J. Gabelli individually and/or as an executive officer or director of any entity of which Mr. Gabelli serves. |
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Page 11 of 18 – SEC Filing
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Page 12 of 18 – SEC Filing
The following sets forth as to each of the executive officers and directors of the undersigned: his name; his business address; his present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted. Unless otherwise specified, the principal employer of each such individual is GAMCO Asset Management Inc., Gabelli Funds, LLC, Gabelli Securities, Inc., G.research, Inc., Teton Advisors, Inc., Associated Capital Group, Inc. or GAMCO Investors, Inc., the business address of each of which is One Corporate Center, Rye, New York 10580, and each such individual identified below is a citizen of the United States. To the knowledge of the undersigned, during the last five years, no such person has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and no such person was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws except as reported in Item 2(d) and (e) of this Schedule 13D. |
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Page 13 of 18 – SEC Filing
GAMCO Investors, Inc. Directors: | |
Edwin L. Artzt Raymond C. Avansino | Former Chairman and Chief Executive Officer Procter & Gamble Company 900 Adams Crossing Cincinnati, OH 45202 Chairman & Chief Executive Officer E.L. Wiegand Foundation 165 West Liberty Street Reno, NV 89501 |
Mario J. Gabelli Elisa M. Wilson | Chief Executive Officer and Chief Investment Officer of GGCP, Inc. Chairman & Chief Executive Officer of GAMCO Investors, Inc. Executive Chairman & Chief Executive Officer of Associated Capital Group, Inc. Director/Trustee of all registered investment companies advised by Gabelli Funds, LLC. Director c/o GAMCO Investors, Inc. One Corporate Center Rye, NY 10580 |
Eugene R. McGrath | Former Chairman and Chief Executive Officer Consolidated Edison, Inc. 4 Irving Place New York, NY 10003 |
Robert S. Prather | President & Chief Executive Officer Heartland Media, LLC 1843 West Wesley Road Atlanta, GA 30327 |
Officers: | |
Mario J. Gabelli | Chairman and Chief Executive Officer |
Douglas R. Jamieson Henry G. Van der Eb Bruce N. Alpert Agnes Mullady Kevin Handwerker | President and Chief Operating Officer Senior Vice President Senior Vice President Senior Vice President Executive Vice President, General Counsel and Secretary |
GAMCO Asset Management Inc. Directors: | |
Douglas R. Jamieson Regina M. Pitaro William S. Selby | |
Officers: | |
Mario J. Gabelli | Chief Executive Officer and Chief Investment Officer – Value Portfolios |
Douglas R. Jamieson David Goldman | President, Chief Operating Officer and Managing Director General Counsel, Secretary & Chief Compliance Officer |
Gabelli Funds, LLC Officers: | |
Mario J. Gabelli | Chief Investment Officer – Value Portfolios |
Bruce N. Alpert | Executive Vice President and Chief Operating Officer |
Agnes Mullady | President and Chief Operating Officer – Open End Fund Division |
David Goldman | General Counsel |
Gabelli Securities, Inc. | |
Directors: | |
Robert W. Blake | President of W. R. Blake & Sons, Inc. 196-20 Northern Boulevard Flushing, NY 11358 |
Douglas G. DeVivo | Co-Chairman of the Board Alce Partners, L.P. 40 Laburnum Road Atherton, CA 94027 |
Marc Gabelli | Co-Chairman of the Board See above |
Douglas R. Jamieson | President |
William C. Mattison, Jr. | Former Vice Chairman – Gerard, Klauer Mattison & Co., Inc. |
Salvatore F. Sodano | Vice Chairman Chairman and Chief Executive Officer Worldwide Capital Advisory Partners, LLC 520 White Plains Road, Suite 500 Tarrytown, NY 10591 |
Officers: | |
Douglas R. Jamieson Patrick Dennis Kevin Handwerker David M. Goldman David Fitzgerald | See above Executive Vice President, Chief Financial Officer Secretary General Counsel & Assistant Secretary Chief Compliance Officer |
G.research, LLC | |
Officers: | |
Cornelius V. McGinity | See above |
Bruce N. Alpert Douglas R. Jamieson David M. Goldman Josephine D. LaFauci | Vice President Secretary Assistant Secretary Chief Compliance Officer |
Gabelli Foundation, Inc. Officers: | |
Mario J. Gabelli | Chairman, Trustee & Chief Investment Officer |
Elisa M. Wilson Marc Gabelli Matthew R. Gabelli Michael Gabelli | President Trustee Trustee Trustee |
MJG-IV Limited Partnership Officers: | |
Mario J. Gabelli | General Partner |
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Page 14 of 18 – SEC Filing
GGCP, Inc. Directors: | ||
Mario J. Gabelli | Chief Executive Officer and Chief Investment Officer of GGCP, Inc. Chairman & Chief Executive Officer of GAMCO Investors, Inc. Executive Chairman & Chief Executive Officer of Associated Capital Group, Inc. Director/Trustee of all registered investment companies advised by Gabelli Funds, LLC. | |
Marc Gabelli | President of Associated Capital Group, Inc. President and Managing Director of Gabelli Securities, Inc. | |
Matthew R. Gabelli | Vice President – Trading G.research, Inc. One Corporate Center Rye, NY 10580 | |
Michael Gabelli | President & COO Gabelli & Partners, LLC One Corporate Center Rye, NY 10580 | |
Frederic V. Salerno | Chairman Former Vice Chairman and Chief Financial Officer Verizon Communications | |
Vincent S. Tese | Executive Chairman – FCB Financial Corp | |
Officers: | ||
Mario J. Gabelli | Chief Executive Officer and Chief Investment Officer | |
Marc Gabelli | President | |
Silvio A. Berni | Vice President, Assistant Secretary and Controller | |
GGCP Holdings LLC Members: GGCP, Inc. Mario J. Gabelli | Manager and Member Member |
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Page 15 of 18 – SEC Filing
Teton Advisors, Inc. Directors: | |
Howard F. Ward Nicholas F. Galluccio Vincent J. Amabile John Tesoro | Chairman of the Board Chief Executive Officer and President |
Officers: | |
Howard F. Ward Nicholas F. Galluccio Michael J. Mancuso David Goldman Tiffany Hayden | See above See above Chief Financial Officer General Counsel Secretary |
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Page 16 of 18 – SEC Filing
Associated Capital Group, Inc. Directors: | |
Mario J. Gabelli | Chief Executive Officer and Chief Investment Officer of GGCP, Inc. Chairman & Chief Executive Officer of GAMCO Investors, Inc. Executive Chairman & Chief Executive Officer of Associated Capital Group, Inc. Director/Trustee of all registered investment companies advised by Gabelli Funds, LLC. |
Marc Gabelli | Chairman of The LGL Group, Inc. 2525 Shader Road Orlando, FL 32804 |
Richard L. Bready | Former Chairman and Chief Executive Officer Nortek, Inc. 50 Kennedy Plaza Providence, RI 02903 |
Bruce Lisman | Former Chairman – JP Morgan – Global Equity Division |
Daniel R. Lee | Chief Executive Officer Full House Resorts, Inc. 4670 South Ford Apache Road, Suite 190 Las Vegas, NV 89147 |
Salvatore F. Sodano | Vice Chairman of the Board (see above) |
Officers: | |
Mario J. Gabelli Marc Gabelli Patrick Dennis Kevin Handwerker | Chairman of the Board and Chief Executive Officer President Executive Vice President and Chief Financial Officer Executive Vice President, General Counsel and Secretary |
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Page 17 of 18 – SEC Filing
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Page 18 of 18 – SEC Filing
MARIO J. GABELLI GGCP, INC. MJG ASSOCIATES, INC. GABELLI FOUNDATION, INC. MJG-IV LIMITED PARTNERSHIP By:/s/ Douglas R. Jamieson Douglas R. Jamieson Attorney-in-Fact | |
TETON ADVISORS, INC. By: /s/ David Goldman David Goldman General Counsel – Teton Advisors, Inc. | |
ASSOCIATED CAPITAL GROUP, INC. By:/s/ Kevin Handwerker Kevin Handwerker General Counsel & Secretary – Associated Capital Group, Inc. | |
GAMCO ASSET MANAGEMENT INC. GAMCO INVESTORS, INC. GABELLI SECURITIES, INC. G.RESEARCH, INC. GABELLI FUNDS, LLC By:/s/ Douglas R. Jamieson Douglas R. Jamieson President & Chief Operating Officer – GAMCO Investors, Inc. President – GAMCO Asset Management Inc. Vice President – Gabelli Securities, Inc. Secretary – G.research, Inc. President & Chief Operating Officer – sole member of Gabelli Funds, LLC |