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Top Fund Manager - Mario Gabelli, Gabelli Fund


As the founder of Gabelli Asset Management Company Investors, Mario Gabelli has brought the company to great heights with a total worth of $30 billion since its inception in 1977 . Forbes 400 listed Gabelli as #346 on the list of the wealthiest Americans in 2006 with a net worth of approximately $1.0 billion.

 

Through strategies implemented by Mario Gabelli, Gabelli Funds, established in 1986, accepts IRAs without a minimum investment, otherwise the minimum investment is $1,000. The initial Gabelli Asset Fund was followed by the Gabelli Equity Trust. Gabelli was managing two of the three funds managed by Gabelli Asset Management Co. and the combined assets were $650 million.

 

As of March 31, 2010, the Gabelli Asset Fund's total net assets were $2.3 billion with 459 holdings. Also as of March 31st, the fund's Class AAA Shares had netted a return of 7.0% for 2010. Shares held within the S&P 500 had netted 5.4% in returns. For the entire year of 2009, the Class AAA Shares had an annual return of 30.5%, while S&P 500 shares had an annual return of 26.5%.

 

The types of companies that Gabelli invests in are food and beverage, cable and satellite, energy and utilities, Equipment and supplies, and financial services. Food and beverage makes up a majority of the portfolio, while equipment and supplies make up the smallest portion. The strategy that Mr. Gabelli uses is "value investing." Companies are rated on cash flow and details regarding the firm. He calculated the "private-market value" and not the share price. It's the price that a person is willing to pay for a share rather than what the share is actually selling at. This method was late named "The Gabelli Private Market Value."

 

Currently, Mario Gabelli is a former officer and a member of the New York Society of Security Analysts. He is also a frequent commentator on CNN and CNBC with a number of other appearances in the media.

 

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