Mario Gabelli is one of the billionaires we track at Insider Monkey, and his GAMCO Investors has beaten the S&P 500 by a little over 2% per year since inception in 1986, and his small cap picks have done even better. GAMCO manages over $30 billion in assets, and Gabelli’s latest thoughts on Tesla are worth a read.
Today, however, Gabelli and his team are making the headlines for a different reason, this time for a pair of amended 13D filings. In a filing yesterday, Gamco noted that it owns 4.96% of iGo, Inc. (NASDAQ:IGOI) stock, and in a separate filing today, we can see that the fund owned a significant stake in Intermec Inc. (NYSE:IN) before its merger with Honeywell International Inc. (NYSE:HON).
Regarding iGo, we already knew that Gamco was long on the mobile electronics and devices company via a filing. The purpose of the amendment is “to correct the Reporting Persons’ Initial Schedule 13D filed on September 12, 2013 that incorrectly indicates the shares of the Issuer were held entirely by Teton Advisors. In fact, Teton Advisors held 4.96% of the Issuer with the balance being held in a GBL account.”
Regarding Gamco’s now defunct position in Intermec, we thought the schedule of his sale history would provide investors some insight into how the fund treated the stock before its merger with Honeywell. Intermec, which is involved in the RFID and AIDC devices business, originally announced the deal on Dec 10, 2012. Shareholders approved the deal in March 2013, and U.S. officials cleared it last Friday.
Here’s the history of Gabelli and Gamco’s sales of Intermec:
INFORMATION WITH RESPECT TOTRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS ORSINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)SHARES PURCHASED AVERAGEDATE SOLD(-) PRICE(2)COMMON STOCK-INTERMEC INC.MARIO J. GABELLI9/17/13 5,000- 10.0000MJG ASSOCIATES, INC.GABELLI INTERNATIONAL LIMITED9/17/13 10,000- 10.0000GAMCO ASSET MANAGEMENT INC.9/17/13 1,247,000- 10.00009/17/13 4,096,555- 10.00009/13/13 2,860- 9.91359/12/13 76,000- 9.92009/12/13 17,000- 9.92219/11/13 15,000- 9.92009/11/13 18,127- 9.9200GABELLI SECURITIES, INC.9/17/13 253,392- 10.00009/17/13 40,111- 10.00009/13/13 12,300- 10.00899/13/13 706- 10.0089GABELLI ASSOCIATES LIMITED II E9/17/13 92,600- 10.0000GABELLI ASSOCIATES LIMITED9/17/13 193,000- 10.00009/13/13 900- 10.0089GABELLI ASSOCIATES FUND II9/17/13 128,900- 10.00009/13/13 700- 10.0089GABELLI ASSOCIATES FUND9/17/13 272,677- 10.00009/13/13 1,000- 10.0089TETON ADVISORS, INC.9/17/13 80,000- 10.0000GABELLI FUNDS, LLC.GAMCO STRATEGIC VALUE9/17/13 105,000- 10.0000GABELLI SMALL CAP GROWTH FUND9/17/13 745,800- 10.0000GABELLI DIVIDEND & INCOME TRUST9/17/13 58,172- 10.0000THE GDL FUND9/17/13 500,000- 10.0000GABELLI ENTERPRISE M&A FUND9/17/13 350,000- 10.0000GAMCO MERGER ARBITRAGE9/17/13 72,800- 10.0000GABELLI ABC FUND9/17/13 693,000- 10.0000(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTEDON THE NYSE.(2) PRICE EXCLUDES COMMISSION.(3) THE TRANSACTIONS ON 9/17/13 WERE A RESULT OF THE COMPLETION OF THEMERGER OF THE ISSUER WITH HONEYWELL INTERNATIONAL INC.
To continue reading about Mario Gabelli’s investment philosophy, check this out.