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Mario Gabelli, GAMCO Nominate Candidates for Sevcon Inc (SEV)’s Board; Edge Up Stake in Biglari Holdings Inc (BH)

GAMCO Investors, managed by Mario Gabelli, went activist on Sevcon Inc (NASDAQ:SEV). According to letter sent to the company, and attached to a SEC filing, GAMCO informed it that Mr. Ryan J. Morris, Mr. Walter M. Schenker, and Mr. Glenn J. Angiolillo have been appointed as candidates to be nominated on Sevcon Inc (NASDAQ:SEV)’s board of directors.

Mario Gabelli with cereal box

The candidates nominated by GAMCO will be elected at the next shareholders meeting of Sevcon Inc (NASDAQ:SEV). At the same time, according to the filing, GAMCO currently owns 564,900 shares of Sevcon, down from 570,379 held at the end of September. The stake held by GAMCO amasses almost 16.3% of the company’s common stock. In aggregate, GAMCO, with other Mario Gabelli’s funds hold over 1.2 million shares of Sevcon Inc (NASDAQ:SEV), representing 35.4% of the common stock.

According to our database, GAMCO is the only fund out of those we track, which hold shares of Sevcon Inc (NASDAQ:SEV).

In a second filing, GAMCO revealed holding 100,422 shares of Biglari Holdings Inc (NYSE:BH). The fund’s position amasses 5.84% of the company’s common stock. Overall, Gabelli’s funds hold in aggregate almost 149,400 shares of Biglari Holdings Inc (NYSE:BH), which represent 8.68% of the common stock. The value of the total position amounts to $72 million, at the current stock price of the company. In its latest 13F, GAMCO disclosed owning some 100,700 shares of the company.

Aside from GAMCO, D E Shaw, managed by D. E. Shaw, revealed ownership of 13,100 shares of Biglari Holdings Inc (NYSE:BH), with a reported value of $5.4 million. D E Shaw’s stake surged by 76% during the third quarter. Aqr Capital Management, led by Cliff Asness, disclosed, in its latest 13F, holding a $4.0 million stake, which amasses some 9,600 shares.

Disclosure: none

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