Cst Brands Inc. (CST): Billionaire Mario Gabelli’s GAMCO Investors Raises Its Stake

Billionaire Mario Gabelli‘s GAMCO Investors recently filed a Form 13D with the SEC in which it reported holding, together with its affiliates, 4.61 million common shares of Cst Brands Inc. (NYSE:CST), which amass 6.10% of the company’s outstanding stock. Out of the aggregate amount GAMCO solely owns 2.57 million shares or 3.40% of the shares outstanding. This indicates an increase in GAMCO’s stake as the fund previously held sole ownership of 2.10 million shares, according to its 13F filing for the reporting period of June 30.

CST Brands is a holding company that sells motor fuel and convenience goods, and operates in three sectors: US Retail, Cross America, and Canadian Retail. Recently, the company signed a merger agreement to be acquired by Alimentation Couche-Tard Inc, a convenience store operator, for a price of $48.53 per share, or approximately $4.4 billion in total. Year-to-date, CST Brands’ stock is up by 21.87%. In its financial report for the second quarter of 2016, the company disclosed earnings per share of $0.36 and net income of $27 million, compared to $0.32 in EPS and net income of $25 million for the corresponding period of the previous year.

MarioGabelli_GAMCOInvestors

As per Insider Monkey’s hedge fund database, there were 31 investors long Cst Brands (NYSE:CST) at the end of June, up from 28 hedge funds a quarter earlier. Among the bullish investors of the stock were David Cohen and Harold Levy’s Iridian Asset Management, which held a position valued at $303.55 million, Alan Fournier’s Pennant Capital Management, with a position worth around $147.8 million, Paul Marshall and Ian Wace’s Marshall Wace LLP, Andrew Goldman’s Seven Locks Capital Management, Jim Simons’ Renaissance Technologies, and Youlia Miteva’s Proxima Capital Management.

Some of the new investors in Cst Brands (NYSE:CST) during the second quarter were First Eagle Investment Management, which initiated a position valued at $40.46 million on June 30, David Kowitz and Sheldon Kasowitz’ Indus Capital, which had a $9.91 million call option position in the company, Jacob Gottlieb’s Visium Asset Management, Jamie Mendola’s Pacific Grove Capital, and Min Htoo and Jordan Teramo’s Anandar Capital Management.

Investors who lost enthusiasm for Cst Brands (NYSE:CST) and decided to sell their positions encompassed Gabriel Plotkin’s Melvin Capital Management, which said goodbye to $7.66 million worth of put options, Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital, which dumped a position valued at $607,000 at the end of March, Patrick Hughes and Loren Katzovitz’ Deimos Asset Management, George Hall’s Clinton Group, and Isaac Corre’s Governors Lane.

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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 1,780,891 1,780,891 1,780,891 2.35%
GAMCO Asset Management Inc. I.D. No. 13-40445 2,460,637 2,571,237 2,571,237 3.40%
Gabelli Securities, Inc. I.D. No. 13-3379374 163,149 163,149 163,149 0.22%
MJG Associates, Inc. I.D. No. 06-1304 300 300 300 0.00%
Gabelli Foundation, Inc. I.D. No. 94 14,000 14,000 14,000 0.02%
G.research 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 3,720 3,720 3,720 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 19 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934 (Amendment No. 1)
CST Brands, Inc.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
                                                                                                    ________12646R105_________
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________ August 26, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box .

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Page 2 of 19 – SEC Filing

CUSIP No. 12646R105
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
1,780,891  (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
1,780,891  (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
1,780,891  (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)
2.35%
14
Type of reporting person (SEE INSTRUCTIONS)
    IA, CO

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Page 3 of 19 – SEC Filing

CUSIP No. 12646R105
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
2,460,637  (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
2,571,237  (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
2,571,237  (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)
3.40%
14
Type of reporting person (SEE INSTRUCTIONS)
    IA, CO

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Page 4 of 19 – SEC Filing

CUSIP No. 12646R105
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
163,149 (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
163,149 (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
163,149 (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)
0.22%
14
Type of reporting person (SEE INSTRUCTIONS)
    HC, CO, IA

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Page 5 of 19 – SEC Filing

CUSIP No. 12646R105
1
Names of reporting persons
I.R.S. identification nos. of above persons (entities only)
        MJG Associates, Inc.          I.D. No.  06-1304269
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
   Connecticut
Number Of
Shares
Beneficially
Owned
By Each
Reporting
Person
With
: 7
:
:
:
Sole voting power
300  (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
 300  (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
 300  (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)
0.00%
14
Type of reporting person (SEE INSTRUCTIONS)
 CO

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Page 6 of 19 – SEC Filing

CUSIP No. 12646R105
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
14,000   (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
14,000   (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
14,000   (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 7 of 19 – SEC Filing

CUSIP No. 12646R105
1
Names of reporting persons
I.R.S. identification nos. of above persons (entities only)
        G.research, LLC               I.D. No.  13-2885006
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
   NY
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)
    BD

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Page 8 of 19 – SEC Filing

CUSIP No. 12646R105
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 9 of 19 – SEC Filing

CUSIP No. 12646R105
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
3,720   (Item 5)
: 8
:
:
:
Shared voting power
None
: 9
:
:
:
Sole dispositive power
3,720   (Item 5)
:10
:
:
:
Shared dispositive power
None
11
Aggregate amount beneficially owned by each reporting person
3,720   (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 10 of 19 – SEC Filing

CUSIP No. 12646R105
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 11 of 19 – SEC Filing

CUSIP No. 12646R105
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 12 of 19 – SEC Filing

Item 1. Security and Issuer
This Amendment No. 1 to Schedule 13D on the Common Stock of CST Brands, Inc. (the “Issuer”) is being filed on behalf of the undersigned to amend the Schedule 13D, as amended (the “Schedule 13D”) which was originally filed on June 2, 2016.  Unless otherwise indicated, all capitalized terms used herein but not defined herein shall have the same meanings as set forth in the Schedule 13D.
Item 2. Identity and Background
This statement is being filed by Mario J. Gabelli (“Mario Gabelli”) and various entities which he
directly or indirectly controls or for which he acts as chief investment officer.  These entities, except for LICT Corporation (“LICT), CIBL, Inc. (“CIBL”) and ICTC Group, Inc. (“ICTC”), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds.  Certain of these entities may also make investments for their own accounts.
The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer.  Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive.  In order to avoid any question as to whether their beneficial ownership is being reported on the proper form and in order to provide greater investment flexibility and administrative uniformity, these persons have decided to file their beneficial ownership reports on the more detailed Schedule 13D form rather than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary.
(a), (b) and (c) – This statement is being filed by one or more of the following persons: GGCP, Inc.  (“GGCP”), GGCP Holdings LLC (“GGCP Holdings”), GAMCO Investors, Inc. (“GBL”), Associated Capital Group, Inc. (“AC”), Gabelli Funds, LLC (“Gabelli Funds”), GAMCO Asset Management Inc. (“GAMCO”), Teton Advisors, Inc. (“Teton Advisors”), Gabelli Securities, Inc. (“GSI”), G.research, LLC (“G.research”), MJG Associates, Inc. (“MJG Associates”), Gabelli Foundation, Inc. (“Foundation”), MJG-IV Limited Partnership (“MJG-IV”),  Mario Gabelli, LICT, CIBL and ICTC.  Those of the foregoing persons signing this Schedule 13D are hereinafter referred to as the “Reporting Persons”.
GGCP makes investments for its own account and is the manager and a member of GGCP Holdings which is the controlling shareholder of GBL and AC.  GBL, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those named below.  AC, a public company listed on the New York Stock Exchange, is the parent company for a variety of companies engaged in the securities business, including certain of those listed below.
GAMCO, a wholly-owned subsidiary of GBL, is an investment adviser registered under the Investment Advisers Act of 1940, as amended (“Advisers Act”).  GAMCO is an investment manager providing discretionary managed account services for employee benefit plans, private investors, endowments, foundations and others.
GSI, a majority-owned subsidiary of AC, is an investment adviser registered under the Advisers Act and serves as a general partner or investment manager to limited partnerships and offshore investment companies and other accounts.  As a part of its business, GSI may purchase or sell securities for its own account.  GSI is a general partner or investment manager of a number of funds or partnerships, including Gabelli Associates Fund, L.P., Gabelli Associates Fund II, L.P., Gabelli Associates Limited, Gabelli Associates Limited II E, ALCE Partners, L.P., Gabelli Capital Structure Arbitrage Fund LP, Gabelli Capital Structure Arbitrage Fund Limited, Gabelli Intermediate Credit Fund L.P., Gabelli Japanese Value Partners L.P., GAMA Select Energy + L.P., GAMCO Medical Opportunities L.P., GAMCO Long/Short Equity Fund, L.P., Gabelli Multimedia Partners, L.P, Gabelli International Gold Fund Limited and Gabelli Green Long/Short Fund, L.P.
G.research, a wholly-owned subsidiary of GSI, is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (“1934 Act”), which as a part of its business regularly purchases and sells securities for its own account.
Gabelli Funds, a wholly owned subsidiary of GBL, is a limited liability company. Gabelli Funds is an investment adviser registered under the Advisers Act which provides advisory services for The Gabelli Equity Trust Inc., The Gabelli Asset Fund, The GAMCO Growth Fund, The Gabelli Convertible and Income Securities Fund Inc., The Gabelli Value 25 Fund Inc., The Gabelli Small Cap Growth Fund, The Gabelli Equity Income Fund, The Gabelli ABC Fund, The GAMCO Global Telecommunications Fund, The Gabelli Gold Fund, Inc., The Gabelli Multimedia Trust Inc., The Gabelli Global Rising Income & Dividend Fund, The Gabelli Capital Asset Fund, The GAMCO International Growth Fund, Inc., The GAMCO Global Growth Fund, The Gabelli Utility Trust, The GAMCO Global Opportunity Fund, The Gabelli Utilities Fund, The Gabelli Dividend Growth Fund, The GAMCO Mathers Fund, The Gabelli Focus Five Fund, The Comstock Capital Value Fund, The Gabelli Dividend and Income Trust, The Gabelli Global Utility & Income Trust, The GAMCO Global Gold, Natural Resources, & Income Trust, The GAMCO Natural Resources Gold & Income Trust, The GDL Fund, Gabelli Enterprise Mergers & Acquisitions Fund, The Gabelli ESG Fund, Inc., The Gabelli Healthcare & Wellness Rx Trust, The Gabelli Global Small and Mid Cap Value Trust, Gabelli Value Plus+ Trust, Bancroft Fund Ltd. and Ellsworth Growth & Income Fund Ltd. (collectively, the “Funds”), which are registered investment companies.  Gabelli Funds is also the investment adviser to The GAMCO International SICAV (sub-funds GAMCO Merger Arbitrage and GAMCO All Cap Value), a UCITS III vehicle.
Teton Advisors, an investment adviser registered under the Advisers Act, provides discretionary advisory services to The TETON Westwood Mighty Mitessm Fund, The TETON Westwood Income Fund, The TETON Westwood SmallCap Equity Fund, and The TETON Westwood Mid-Cap Equity Fund.
MJG Associates provides advisory services to private investment partnerships and offshore funds.  Mario Gabelli is the sole shareholder, director and employee of MJG Associates.   MJG Associates is the Investment Manager of Gabelli International Limited and Gabelli Fund, LDC.  Mario J. Gabelli is the general partner of Gabelli Performance Partnership, LP.
The Foundation is a private foundation.  Mario Gabelli is the Chairman, a Trustee and the Investment Manager of the Foundation. Elisa M. Wilson is the President of the Foundation.
LICT is a holding company with operating subsidiaries engaged primarily in the rural telephone industry. LICT actively pursues new business ventures and acquisitions. LICT makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of LICT.
ICTC is a holding company with subsidiaries in voice, broadband and other telecommunications services, primarily in the rural telephone industry. ICTC makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of ICTC.
CIBL is a holding company with interests in telecommunications operations, primarily in the rural telephone industry. CIBL actively pursues new business ventures and acquisitions. CIBL makes investments in marketable securities to preserve capital and maintain liquidity for financing their business activities and acquisitions and are not engaged in the business of investing, or trading in securities. Mario J. Gabelli is a director, and substantial shareholder of CIBL.
Mario Gabelli is the controlling stockholder, Chief Executive Officer and a director of GGCP and Chairman and Chief Executive Officer of GBL. He is the Executive Chairman and Chief Executive Officer of AC.  Mario Gabelli is also a member of GGCP Holdings. Mario Gabelli is the controlling shareholder of Teton.
                             MJG-IV is a family partnership in which Mario Gabelli is the general partner.  Mario Gabelli has less than a 100% interest in MJG-IV.  MJG-IV makes investments for its own account.  Mario Gabelli disclaims ownership of the securities held by MJG-IV beyond his pecuniary interest.
The Reporting Persons do not admit that they constitute a group.
GAMCO and G.research are New York corporations and GBL, AC, GSI, and Teton Advisors are Delaware corporations, each having its principal business office at One Corporate Center, Rye, New York 10580. GGCP is a Wyoming corporation having its principal business office at 140 Greenwich Avenue, Greenwich, CT 06830.   GGCP Holdings is a Delaware limited liability corporation having its principal business office at 140 Greenwich Avenue, Greenwich, CT 06830.  Gabelli Funds is a New York limited liability company having its principal business office at One Corporate Center, Rye, New York 10580.  MJG Associates is a Connecticut corporation having its principal business office at 140 Greenwich Avenue, Greenwich, CT 06830.  The Foundation is a Nevada corporation having its principal offices at 165 West Liberty Street, Reno, Nevada 89501.  LICT is a Delaware corporation having its principal place of business as 401 Theodore Fremd Avenue, Rye, New York 10580. CIBL, Inc. is a Delaware corporation having its principal place of business as 165 West Liberty Street, Suite 220, Reno, NV 89501.  ICTC Group Inc. is a Delaware corporation having its principal place of business as 556 Main Street, Nome, North Dakota 58062.
For information required by instruction C to Schedule 13D with respect to the executive officers and directors of the foregoing entities and other related persons (collectively, “Covered Persons”), reference is made to Schedule I annexed hereto and incorporated herein by reference.
(d) – Not applicable.
(e) – Not applicable.
 (f) – Reference is made to Schedule I hereto.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 to Schedule 13D is amended, in pertinent part, as follows:
The Reporting Persons used an aggregate of approximately $41,277,712 to purchase the additional Securities reported as beneficially owned in Item 5 since the most recent filing on Schedule 13D.  GAMCO and Gabelli Funds used approximately $25,891,545 and $10,202,937,  respectively, of funds that were provided through the accounts of certain of their investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the additional Securities for such clients.  GSI used approximately $4,371,471 of client funds to purchase the additional Securities reported by it. G.research used approximately $714,100 of working capital to purchase the additional Securities reported by it. GBL used approximately $84,742 of working capital to purchase the additional Securities reported by it. MJG Associates used approximately $12,917 of client funds to purchase the additional Securities reported by it.
Item 5. Interest In Securities Of The Issuer
Item 5 to Schedule 13D is amended, in pertinent part, as follows:
 (a) The aggregate number of Securities to which this Schedule 13D relates is 4,614,006 shares, representing 6.10% of the 75,685,743 shares outstanding as reported in the Issuer’s most recently filed Form 10-Q for the quarterly period ended June 30, 2016.  The Reporting Persons beneficially own those Securities as follows:
Name
Shares of
Common Stock
% of Class of
Common
GAMCO
Gabelli Funds
GSI
G. research
MJG
MJG Associates
GBL
Foundation
2,571,237
1,780,891
163,149
15,000
65,709
300
3,720
14,000
3.40%
2.35%
0.22%
0.02%
0.09%
0.00%
0.00%
0.02%
Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons.  GSI is deemed to have beneficial ownership of the Securities owned beneficially by G.research.  AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation.
(b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be, except that (i) GAMCO does not have the authority to vote 110,600 of the reported shares, (ii) Gabelli Funds has sole dispositive and voting power with respect to the shares of the Issuer held by the Funds so long as the aggregate voting interest of all joint filers does not exceed 25% of their total voting interest in the Issuer and, in that event, the Proxy Voting Committee of each Fund shall respectively vote that Fund’s shares, (iii) at any time, the Proxy Voting Committee of each such Fund may take and exercise in its sole discretion the entire voting power with respect to the shares held by such fund under special  circumstances such as regulatory considerations, and (iv) the power of Mario Gabelli, AC, GBL, and GGCP is indirect with respect to Securities beneficially owned directly by other Reporting Persons.
(c) Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth on Schedule II annexed hereto and incorporated herein by reference.
 (e) Not applicable.

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Page 13 of 19 – SEC Filing

Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: August 29, 2016
GGCP, INC.
MARIO J. GABELLI
GABELLI FOUNDATION, INC.
By:/s/ Douglas R. Jamieson
     Douglas R. Jamieson
     Attorney-in-Fact
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.
GABELLI FUNDS, LLC
G. RESEARCH, LLC
By:/s/ Douglas R. Jamieson 
     Douglas R. Jamieson
                    President & Chief Operating Officer – GAMCO Investors, Inc.
      President – GAMCO Asset Management Inc.
      President – Gabelli Securities, Inc.
       President & Chief Operating Officer of the sole member of
Gabelli Funds, LLC
       Secretary – G. research, LLC

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Page 14 of 19 – SEC Filing

SCHEDULE I
     Information with Respect to Executive
Officers and Directors of the Undersigned
Schedule I to Schedule 13D is amended, in pertinent part, as follows:
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, LLC, 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 15 of 19 – 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.
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 16 of 19 – 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 17 of 19 – 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 18 of 19 – 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 19 of 19 – SEC Filing

                              SCHEDULE II
                            INFORMATION WITH RESPECT TO
                 TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
                 SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)
                                   SHARES PURCHASED        AVERAGE
                        DATE            SOLD(-)             PRICE(2)
 COMMON STOCK-CST BRANDS, INC.
          GABELLI FOUNDATION, INC.
                       8/18/16            1,000-           47.6490
          GAMCO INVESTORS, INC.
                       8/26/16              600            47.5857
                       8/25/16              100            47.6346
                       8/24/16              100            47.6775
                       8/23/16              125-           47.4640
                       8/22/16              500            47.4944
                       8/17/16              100-           47.2201
                       7/25/16              200            44.7998
                       7/01/16               10-           43.8800
          GAMCO ASSET MANAGEMENT INC.
                       8/26/16            3,000            47.6890
                       8/26/16           61,600            47.6310
                       8/26/16            4,375            47.5857
                       8/26/16            8,000            47.6490
                       8/25/16           42,700            47.7000
                       8/25/16              750            47.6346
                       8/24/16            6,000            47.7000
                       8/24/16            1,000            47.6890
                       8/24/16            1,000            47.6775
                       8/24/16              300-           47.6937
                       8/24/16            9,700            47.6900
                       8/24/16           82,300            47.6890
                       8/23/16           70,300            47.5015
                       8/23/16            6,500            47.4600
                       8/23/16            1,000            47.4770
                       8/23/16            2,000            47.4700
                       8/23/16            4,500            47.4638
                       8/23/16            6,800            47.4787
                       8/23/16              600            47.4500
                       8/23/16           24,500            47.4701
                       8/22/16           20,000            47.5224
                       8/22/16           66,200            47.5500
                       8/22/16            2,175            47.4944
                       8/22/16           14,700            47.5151
                       8/22/16           15,000            47.6102
                       8/19/16              400-           47.4701
                       8/19/16              700-           47.2800
                       8/18/16            1,000-           47.6528
                       8/18/16              400-           47.6528
                       8/18/16            1,100-           47.5828
                       8/18/16            1,700-           47.6312
                       8/18/16            4,000-           47.5303
                       8/17/16            2,000-           47.2915
                       8/17/16              200            47.1150
                       8/17/16            1,000-           47.2520
                       8/17/16              800-           47.1738
                       8/17/16            4,200-           47.0491
                       8/17/16            1,500-           47.1850
                       8/16/16              500-           47.0500
                       8/16/16              400-           47.1533
                       8/12/16              600            44.3200
                       8/10/16              500-           43.5380
                       8/10/16            1,849            43.4951
                       8/10/16              300            43.7557
                       8/10/16            4,600            43.7819
                       8/09/16            2,200            43.8459
                       8/09/16              300-           43.7937
                       8/08/16              300            43.7000
                       8/05/16            3,000-           44.1332
                       8/05/16              500-           44.3340
                       8/03/16              400            43.8300
                       8/03/16              100            43.0400
                       8/03/16            2,900-           42.8550
                       8/01/16              100-           44.2400
                       8/01/16               50            44.2884
                       7/28/16              300-           44.1623
                       7/26/16            1,000            44.5399
                       7/26/16              200            44.6000
                       7/25/16            1,200            44.7998
                       7/22/16              400            45.5339
                       7/22/16            1,000            45.1721
                       7/22/16            5,800-             *DO
                       7/21/16            2,000-           45.3612
                       7/21/16              300            45.1700
                       7/21/16            2,200            45.3600
                       7/21/16              600-           44.9600
                       7/20/16              400            45.3600
                       7/19/16              200-           44.9600
                       7/19/16              200-           45.2776
                       7/19/16            2,200            44.6356
                       7/19/16            1,200-           44.8742
                       7/18/16            5,000-             *DO
                       7/15/16           16,000-             *DO
                       7/14/16              600            44.2500
                       7/13/16              200            44.3982
                       7/13/16            1,700            44.2486
                       7/11/16            5,000            44.2253
                       7/11/16              400            44.6600
                       7/08/16            4,000            43.8898
                       7/08/16           10,000            43.7422
                       7/07/16              500            43.0810
                       7/06/16            5,000              *DI
                       7/06/16            4,000            43.1582
                       7/06/16              500            43.1880
                       7/06/16            5,000            43.3414
                       7/06/16            6,200            43.0084
                       7/06/16            1,000            42.9585
                       7/05/16            4,000            42.9177
                       7/05/16              800            43.0194
                       7/05/16              200            43.6500
                       7/05/16            1,000-           43.0260
                       7/01/16            4,300            43.6414
                       7/01/16               50-           43.5800
                       7/01/16              700            43.5345
                       6/30/16              500-           42.8140
                       6/30/16            4,000            42.7470
                       6/30/16              200-             *DO
                       6/29/16           12,700            42.2571
                       6/29/16           16,000            42.2863
          GABELLI SECURITIES, INC.
                       8/26/16            7,200            47.5857
                       8/25/16            1,200            47.6346
                       8/24/16            1,700            47.6775
                       8/22/16            4,000            47.4799
                       8/22/16            5,100            47.4944
                       8/01/16              300            44.2884
                       7/25/16            2,100            44.7998                                                                                             
             GABELLI ASSOCIATES LIMITED II E
                       8/26/16            3,900            47.5857
                       8/25/16              600            47.6346
                       8/24/16              800            47.6775
                       8/22/16            2,800            47.4944
                       8/01/16            1,700            44.2884
                       7/25/16              900            44.7998
             GABELLI ASSOCIATES LIMITED
                       8/26/16            6,500            47.5857
                       8/25/16            1,100            47.6346
                       8/24/16            1,200            47.6775
                       8/22/16            4,900            47.4944
                       8/01/16              100            44.2884
                       7/25/16            1,600            44.7998
             GABELLI ASSOCIATES FUND II
                       8/26/16            4,100            47.5857
                       8/25/16              800            47.6346
                       8/24/16              800            47.6775
                       8/22/16            3,100            47.4944
                       7/25/16            1,300            44.7998
            GABELLI ASSOCIATES FUND
                       8/26/16            9,125            47.5857
                       8/25/16            1,300            47.6346
                       8/24/16            1,800            47.6775
                       8/22/16            6,700            47.4944
                       8/01/16              254            44.2884
                       7/25/16            2,600            44.7998
             ALCE PARTNERS
                       8/16/16              500-           47.1500                                                                                             
          G.RESEARCH, LLC
                       8/26/16           10,000            47.5650
                       8/25/16            5,000            47.6900
          GABELLI FUNDS, LLC.
             GABELLI FOCUS FIVE FUND
                       8/19/16           13,331-           47.6053
                       8/18/16           20,000-           47.6043
                       8/16/16           20,000-           47.2102
                       7/19/16           20,000-           44.9553
             GABELLI VALUE FUND
                       8/19/16            1,000-           47.4270
                       8/19/16            4,000-           47.3650
                       8/18/16            1,000-           47.6528
                       8/17/16            1,000-           47.5210
             GABELLI SMALL CAP GROWTH FUND
                       7/08/16            4,000            43.8374
             GABELLI GLOBAL SMALL AND MIDCAP VALUE TRUST
                       8/23/16           20,000            47.4800
             GABELLI EQUITY TRUST
                       8/16/16           10,000-           47.2018
                       7/19/16            5,000-           44.9553
             THE GDL FUND
                       8/23/16            2,000            47.4500
                       8/22/16           50,600            47.5151
             GABELLI ENTERPRISE M&A FUND
                       8/23/16              800            47.4500
                       8/22/16           19,600            47.5151
                       7/18/16            4,000-             *DO
             GAMCO MERGER ARBITRAGE
                       8/26/16            9,200            47.5857
                       8/25/16            1,375            47.6346
                       8/24/16            1,700            47.6775
                       8/22/16            7,625            47.4944
                       8/01/16              500            44.2884
                       7/25/16            2,600            44.7998
             GAMCO ALL CAP VALUE
                       8/26/16            1,100            47.5595
                       8/26/16              300            47.6000
                       8/22/16            1,400            47.5151
                       8/18/16              400-           47.6528
                       8/17/16              400-           47.4100
                       8/16/16              200-           47.1533
             GABELLI ABC FUND
                       8/23/16            8,031            47.4500
                       8/22/16          193,441            47.5151
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
    ON THE NYSE.
(2) PRICE EXCLUDES COMMISSION.
(*) RESULTS IN CHANGE OF DISPOSITIVE POWER AND BENEFICIAL OWNERSHIP.
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