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Post Holdings Inc (POST): Mario Gabelli’s GAMCO Investors Doubles Exposure as the Company Diversifies

Mario Gabelli’s GAMCO Investors recently disclosed having more than doubled its exposure to Post Holdings Inc (NYSE:POST). After adding 1.34 million shares to its holdings, the fund owns 2.37 million shares of Common Stock. This stake represents 5.29% of the company’s outstanding Common Stock, and makes of GAMCO the largest hedge fund shareholder (amongst those we keep track of) in the company, as Brian Bares’ Bares Capital Management recently sold out its 2.46 million shares of Post Holdings Inc (NYSE:POST).

Other major hedge funds boosting their bets on Post Holdings Inc (NYSE:POST) are John Paulson’s Paulson & Co, John Griffin’s Blue Ridge Capital and D. E. Shaw. Over the second quarter of 2014, Paulson & Co more than doubled its stake in the company, to 1.85 million shares, worth almost $100 million, Blue Ridge Capital augmented its exposure by 42%, to 1.7 million shares, and D.E. Shaw added 58% to its holdings, and now owns 1.1 million shares of Common Stock.

Mario Gabelli with cereal box

In addition to these hedge funds, one insider also seems quite bullish about Post Holdings Inc (NYSE:POST). Edwin H. Callison, Board Director, acquired in late-August 500 shares of the company’s Common Stock, for $35.67 per share, and now owns 1,000 shares.

Post Holdings Inc (NYSE:POST) is a $1.55 billion market cap manufacturer, marketer and distributor of branded ready-to-eat cereals in the United States and Canada. Its stock has lost 31% year-to-date, mainly on the back of falling cereal sales. However, the company still looks attractive, as it diversifies away from its core cereal business, which is slowly becoming less important for overall sales, while egg products (and other potato and cheese products) gain relevance.

GAMCO Investors is a New York-based hedge fund, founded by Mario Gabelli in 1977, and managed by him ever since. The fund manages more than $43 billion in assets, and last disclosed an equity portfolio worth more than $19 billion.

Its largest bets are placed on DIRECTV (NASDAQ:DTV)American Express Company (NYSE:AXP) and Viacom, Inc. (NASDAQ:VIA). The fund owns almost $1 billion in these companies’ stock (around $300 million in each of them). Another fund manager that seems bullish about these companies is Warren Buffett of Berkshire Hathaway, which is not a detail to be overlooked.

Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned

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