Mario Gabelli’s GAMCO Investors is also amongst those hedge funds that filed their Form 13Fs recently. The fund disclosed a highly diversified equity portfolio, with a market value of more than $19.1 billion. In this article, in particular, we will look into its largest holdings, which have remained the same for five consecutive quarters: DIRECTV (NASDAQ:DTV), American Express Company (NYSE:AXP) and Viacom, Inc. (NASDAQ:VIA).
For the last three consecutive quarters, DIRECTV (NASDAQ:DTV) has occupied the first spot in Gabelli’s list. This $42.6 billion market cap provider of digital television entertainment in the United States and Latin America saw the fund trim its exposure by 4% between April 1 and June 30. GAMCO now owns 3.97 million shares of the company, worth more than $337 million.
DIRECTV (NASDAQ:DTV)’s largest hedge fund shareholder of record, Warren Buffett’s Berkshire Hathaway, also reduced his stake, by 33%, over the quarter. The famed investor now holds 23.46 million shares, worth almost $2 billion.
GAMCO’s second largest bet was placed, once again, on American Express Company (NYSE:AXP), the $92.6 billion market cap credit and travel services company. The fund disclosed ownership of 3.24 million shares of the company, which have a market value of approximately $308 million.
Once again, the fund shrank its stake in the company (by 2%, in this case) over the quarter. However, same as in the previous case, the position still gained in market value, as the stock gained almost 5% over the quarter.
Yet again, Warren Buffett’s Berkshire Hathaway is the largest hedge fund shareholder of American Express Company (NYSE:AXP), with 151.61 million shares. Ken Fisher’s Fisher Asset Management can be also counted amongst the company’s shareholders. Over the second quarter, the fund acquired 419,884 shares, taking its holdings to 11.38 million shares of the company, worth about $1 billion.
Viacom, Inc. (NASDAQ:VIA) came in third. The $34.3 billion market cap entertainment content company witnessed a slight increase in GAMCO’s holding over the quarter. The fund now owns 3.42 million Class A shares of Viacom, Inc. (NASDAQ:VIA), worth more than $297 million. In addition, GAMCO disclosed ownership of 334,398 Class B shares, worth $29 million.
Warren Buffett also seems bullish on Viacom, Inc. (NASDAQ:VIA). His fund holds 7.6 million Class B shares, worth more than $659 million. Another major hedge fund betting on this company is Donald Yacktman’s Yacktman Asset Management, which owns 9.35 million Class B shares, worth more than $811 million.
Amongst Mr. Gabelli’s top 10 picks, another couple of companies are present in Mr. Buffett’s portfolio: The Bank of New York Mellon Corporation (NYSE:BK) and Wells Fargo & Co (NYSE:WFC). Wells Fargo is one of the biggest banks in the World. GAMCO owns about $239 million –or 6.38 million shares- in The Bank of New York Mellon Corporation (NYSE:BK)’s stock, and $233 million –or 4.44 million shares- in Wells Fargo & Co (NYSE:WFC)’s stock. For his part, Berkshire Hathaway owns 24.65 million shares and 463.45 million shares, respectively. These stakes, combined, are worth more than $25 billion.
Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.
